BA
The Boeing Company
BA's outlook is improving, though it still trails on the overall score.
FSS
Federal Signal Corporation
FSS has the edge over BA overall, supported by stronger modeled upside and stronger valuation.
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.
FSS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Healthy |
FSS's revenue, profitability, cash flow and balance sheet are all currently healthy.
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 has the edge over FSS in the historical PE scenario, which offers more potential upside but is not a forecast.
FSS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 20x | $98.68 | -14% |
| Forward | 20x | $115 | — |
| Current | 24x | $115 | — |
| Fair | 26x | $126 | +9.2% |
| Expensive | 30x | $143 | +24% |
Historical ranges are pointers, not guarantees.
FSS's PE is in its fair range at 24x. If earnings grow as analysts expect, today's price would be 20x next year's earnings, in its cheap range.
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.
FSS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for FSS, with profitability improving.
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 returned to profit: it earned $9.66 per share over the past year, after losing money the year before.
FSS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.65 | +17% |
| Q3 2026 | $4.82 | +26% |
| Q2 2026 | $4.64 | +30% |
| Q1 2026 | $4.40 | +29% |
| Q4 2025 | $4.01 | +15% |
| Q3 2025 | $3.82 | +11% |
| Q2 2025 | $3.58 | +9.1% |
| Q1 2025 | $3.41 | +16% |
| Q4 2024 | $3.50 | +37% |
FSS has the edge over BA on earnings, with more consistent year-over-year improvement.
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's operating margin was 1.5% last quarter, up 22 points from the same quarter a year ago.
FSS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $655.5M | +18% |
| Q2 2026 | $670.2M | +19% |
| Q1 2026 | $625.6M | +35% |
| Q4 2025 | $597.1M | +27% |
| Q3 2025 | $555M | +17% |
| Q2 2025 | $564.6M | +15% |
| Q1 2025 | $463.8M | +9.2% |
| Q4 2024 | $472M | +5.3% |
FSS has the edge over BA on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | 0 points |
| Q2 2026 | 18% | +0.3 points |
| Q1 2026 | 16% | +1.8 points |
| Q4 2025 | 14% | -0.9 points |
| Q3 2025 | 17% | +0.9 points |
| Q2 2025 | 17% | +0.8 points |
| Q1 2025 | 14% | +1.4 points |
| Q4 2024 | 15% | +0.8 points |
FSS has the edge over BA on profitability, with a higher operating margin.
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 FSS on cash flow, with more consistent year-over-year improvement.
FSS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $80M | +48% |
| Q2 2026 | $101M | +93% |
| Q1 2026 | $94.6M | +204% |
| Q4 2025 | $89.5M | +9% |
| Q3 2025 | $54.1M | -11% |
| Q2 2025 | $52.4M | +111% |
| Q1 2025 | $31.1M | +36% |
| Q4 2024 | $82.1M | -13% |
FSS generated $365M in free cash flow over the past year, up 66% from 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 793M diluted shares, up 4.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2019 | — |
FSS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +0.2% | +100K shares |
| 3 years | +0.2% | +100K shares |
| 5 years | -0.3% | -200K shares |
| Available history | -0.2% | -100K shares |
FSS has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5M |
| Q2 2026 | $100,000 |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $21.2M |
| Q1 2025 | $18.5M |
| Q4 2024 | $2.2M |
FSS has spent almost nothing on buybacks in the past year.
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.
FSS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.7x | Very low |
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | 1.2x | Healthy |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.6x | Very low |
| Q4 2024 | 0.4x | Very low |
FSS has the edge over BA on leverage, with a lower net debt burden relative to earnings.
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).
FSS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.0 | Neutral |
| Stochastic | 32.3 | Neutral |
FSS's weekly RSI is 49 (neutral) and its Stochastic is 32 (neutral).
BA PE vs Industrials Sector
| Metric | BA | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 24x | 26% below |
| PE % | 0 | 58 | 58 pts below |
BA has the edge over FSS on valuation relative to its sector.
FSS PE vs Industrials Sector
| Metric | FSS | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 24x | 0.8% below |
| PE % | 33 | 58 | 25 pts below |
FSS is trading at 24x earnings, in line with the Industrials sector's median of 24x.
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.
FSS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $113.9 | 1% above |
| 20 week MA | $118.0 | 2.5% below |
| 50 week MA | $115.1 | 0% below |
| 100 week MA | $108.6 | 5.9% above |
| 200 week MA | $90.8 | 27% above |
FSS 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.
FSS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $32.4 | $31.9 | -1.6% |
| 2021 | $31.9 | $42.4 | +33% |
| 2022 | $42.4 | $46.1 | +8.9% |
| 2023 | $46.1 | $76.7 | +66% |
| 2024 | $76.7 | $92.7 | +21% |
| 2025 | $92.7 | $113.4 | +22% |
| 2026 YTD | $113.4 | $115.1 | +1.4% |
FSS has the edge over BA on returns for 2026, with the stronger performance.