BA
The Boeing Company
BA has a slight edge over FCEL overall, supported by lower modeled downside and stronger fundamentals.
FCEL
FuelCell Energy, Inc.
FCEL offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
BA Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Under pressure |
BA's profitability is currently healthy, and its revenue and cash flow are stable, but its balance sheet is under pressure.
FCEL Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Under pressure | |
| Under pressure | |
| Unavailable |
FCEL's revenue, profitability and cash flow are currently under pressure. There isn't enough data to rate its balance sheet.
BA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 18x | $172 | — |
| Cheap | 51x | $496 | +189% |
| Fair | 82x | $790 | +360% |
| Expensive | 91x | $876 | +411% |
Historical ranges are pointers, not guarantees.
BA's PE is 18x, but its earnings don't support one, so it isn't a reliable read right now.
FCEL PE Valuation
FCEL has no meaningful PE right now: it lost money over the past year.
BA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect BA to return to profit, with revenue growing. However, they disagree widely on these estimates.
FCEL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect FCEL's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
BA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $9.66 | +$23.38 |
| Q2 2026 | $2.78 | +$19.33 |
| Q1 2026 | $2.53 | +$20.49 |
| Q4 2025 | $2.48 | +$20.84 |
| Q3 2025 | -$13.72 | -$0.83 |
| Q2 2025 | -$16.55 | -$10.93 |
| Q1 2025 | -$17.96 | -$14.42 |
| Q4 2024 | -$18.36 | -$14.69 |
BA has the edge over FCEL on earnings quality, reporting a profit while its opponent remains loss making.
FCEL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$3.01 | +$6.11 |
| Q2 2026 | -$6.15 | +$1.29 |
| Q1 2026 | -$6.49 | +$1.26 |
| Q4 2025 | -$7.42 | +$0.41 |
| Q3 2025 | -$9.12 | -$1.62 |
| Q2 2025 | -$7.44 | -$0.24 |
| Q1 2025 | -$7.75 | +$0.05 |
| Q4 2024 | -$7.83 | -$0.03 |
FCEL is still losing money, but far less than before: $3.01 per share over the past year, against $192.90 at its worst in late 2019.
BA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.2B | +3.9% |
| Q2 2026 | $24.6B | +8% |
| Q1 2026 | $22.2B | +14% |
| Q4 2025 | $23.9B | +57% |
| Q3 2025 | $23.3B | +30% |
| Q2 2025 | $22.7B | +35% |
| Q1 2025 | $19.5B | +18% |
| Q4 2024 | $15.2B | -31% |
BA's revenue has grown year over year for seven quarters in a row: $24.2B last quarter, up 3.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.5% | +22 points |
| Q2 2026 | 0.6% | +1.4 points |
| Q1 2026 | 2% | -0.3 points |
| Q4 2025 | 37% | +61 points |
| Q3 2025 | -21% | +12 points |
| Q2 2025 | -0.8% | +5.7 points |
| Q1 2025 | 2.4% | +2.9 points |
| Q4 2024 | -25% | -26 points |
BA has the edge over FCEL on profitability, with a higher operating margin.
FCEL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $33M | -29% |
| Q2 2026 | $35.6M | -4.9% |
| Q1 2026 | $30.5M | +61% |
| Q4 2025 | $55M | +12% |
| Q3 2025 | $46.7M | +97% |
| Q2 2025 | $37.4M | +67% |
| Q1 2025 | $19M | +14% |
| Q4 2024 | $49.3M | +120% |
FCEL's revenue has held roughly level: $33M last quarter, down 29% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -141% | +63 points |
| Q2 2026 | -219% | -123 points |
| Q1 2026 | -86% | +87 points |
| Q4 2025 | -51% | +32 points |
| Q3 2025 | -204% | -62 points |
| Q2 2025 | -96% | +89 points |
| Q1 2025 | -173% | +82 points |
| Q4 2024 | -83% | +79 points |
FCEL's operating margin was −141% last quarter, up 63 points from the same quarter a year ago.
BA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $464M | +95% |
| Q2 2026 | $631M | +$831M |
| Q1 2026 | -$1.5B | +$836M |
| Q4 2025 | $375M | +$4.5B |
| Q3 2025 | $238M | +$2.2B |
| Q2 2025 | -$200M | +$4.1B |
| Q1 2025 | -$2.3B | +$1.6B |
| Q4 2024 | -$4.1B | -239% |
BA has the edge over FCEL on cash generation, producing positive trailing cash flow while its opponent burns cash.
FCEL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$13.5M | +$18.6M |
| Q2 2026 | -$29M | +$6.2M |
| Q1 2026 | -$34.7M | +$18.1M |
| Q4 2025 | -$23.9M | -$19.2M |
| Q3 2025 | -$32.1M | +$44.7M |
| Q2 2025 | -$35.2M | +$15.2M |
| Q1 2025 | -$52.8M | +$16.1M |
| Q4 2024 | -$4.7M | +$22.4M |
FCEL has burned cash in almost every quarter: −$101M over the past year, against −$125M the year before.
BA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +2.1M shares |
| 1 year | +4.3% | +32.8M shares |
| 3 years | +31% | +186M shares |
| 5 years | +35% | +204M shares |
| Available history | +40% | +227M shares |
BA has the edge over FCEL on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2019 | — |
FCEL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +30% | +16.2M shares |
| 1 year | +224% | +48.7M shares |
| 3 years | +420% | +56.9M shares |
| 5 years | +555% | +59.7M shares |
| Available history | +3735% | +68.6M shares |
FCEL has 70M diluted shares, up 224% from a year ago.
BA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.0x | Elevated |
| Q2 2026 | 5.7x | High |
| Q1 2026 | 6.0x | High |
| Q4 2025 | 6.9x | High |
| Q2 2024 | 361.8x | High |
| Q1 2024 | 36.1x | High |
| Q4 2023 | 36.4x | High |
| Q3 2023 | 96.1x | High |
BA's net debt is about 3.0 years of its operating earnings (EBITDA), down from more than 20 years a year ago.
FCEL Net Leverage
FCEL's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
BA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 31.1 | Neutral |
| Stochastic | 9.6 | Oversold |
BA's weekly RSI is 31 (neutral) and its Stochastic is 10 (oversold).
FCEL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.8 | Neutral |
| Stochastic | 9.4 | Oversold |
FCEL's weekly RSI is 40 (neutral) and its Stochastic is 9 (oversold).
BA PE vs Industrials Sector
| Metric | BA | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 24x | 26% below |
| PE % | 0 | 58 | 58 pts below |
BA is trading at 18x earnings, a 26% discount to the Industrials sector's median of 24x, though its earnings don't support one.
FCEL PE vs Industrials Sector
FCEL has no meaningful PE right now: it lost money over the past year.
BA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $184.6 | 7.1% below |
| 20 week MA | $203.8 | 16% below |
| 50 week MA | $215.5 | 20% below |
| 100 week MA | $205.9 | 17% below |
| 200 week MA | $200.6 | 14% below |
BA is in a downtrend: it's below all five of its weekly moving averages, and 14% below its 200-week average.
FCEL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $13.6 | 24% below |
| 20 week MA | $17.4 | 41% below |
| 50 week MA | $13.8 | 26% below |
| 100 week MA | $10.2 | 0.9% above |
| 200 week MA | $26.3 | 61% below |
FCEL has the edge over BA on trend strength, trading above more of its moving averages.
BA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $330.1 | $217.2 | -34% |
| 2021 | $217.2 | $204.2 | -6% |
| 2022 | $204.2 | $189.1 | -7.4% |
| 2023 | $189.1 | $260.7 | +38% |
| 2024 | $260.7 | $180.7 | -31% |
| 2025 | $180.7 | $216.4 | +20% |
| 2026 YTD | $216.4 | $171.6 | -21% |
BA has finished lower in four of the last six years. It's down 21% so far in 2026.
FCEL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $38.1 | $369.0 | +869% |
| 2021 | $369.0 | $193.8 | -47% |
| 2022 | $193.8 | $80.1 | -59% |
| 2023 | $80.1 | $48.0 | -40% |
| 2024 | $48.0 | $10.0 | -79% |
| 2025 | $10.0 | $8.48 | -16% |
| 2026 YTD | $8.48 | $10.3 | +21% |
FCEL has the edge over BA on returns for 2026, with the stronger performance.