BA
The Boeing Company
BA's outlook is improving, though it still trails on the overall score.
HWM
Howmet Aerospace Inc.
HWM has the edge over BA overall, supported by stronger modeled upside and stronger fundamentals.
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.
HWM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
HWM'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 HWM in the historical PE scenario, which offers more potential upside but is not a forecast.
HWM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 35x | $177 | -21% |
| Forward | 35x | $223 | — |
| Fair | 43x | $221 | -1.1% |
| Current | 44x | $223 | — |
| Expensive | 58x | $297 | +33% |
Historical ranges are pointers, not guarantees.
HWM's PE is in its fair range at 44x. If earnings grow as analysts expect, today's price would be 35x 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.
HWM Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for HWM, 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.
HWM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.31 | +24% |
| Q3 2026 | $5.11 | +44% |
| Q2 2026 | $4.64 | +36% |
| Q1 2026 | $4.31 | +41% |
| Q4 2025 | $3.71 | +32% |
| Q3 2025 | $3.55 | +35% |
| Q2 2025 | $3.41 | +51% |
| Q1 2025 | $3.06 | +48% |
| Q4 2024 | $2.81 | +54% |
HWM 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.
HWM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.7B | +29% |
| Q2 2026 | $2.5B | +24% |
| Q1 2026 | $2.3B | +19% |
| Q4 2025 | $2.2B | +15% |
| Q3 2025 | $2.1B | +14% |
| Q2 2025 | $2.1B | +9.2% |
| Q1 2025 | $1.9B | +6.5% |
| Q4 2024 | $1.9B | +9.2% |
HWM's revenue has grown year over year for 21 quarters in a row: $2.7B last quarter, up 29% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 29% | +2.8 points |
| Q2 2026 | 28% | +2.5 points |
| Q1 2026 | 33% | +7.1 points |
| Q4 2025 | 23% | -1 points |
| Q3 2025 | 26% | +3 points |
| Q2 2025 | 25% | +4.2 points |
| Q1 2025 | 25% | +5.2 points |
| Q4 2024 | 24% | +4.7 points |
HWM 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's free cash flow has turned positive after six years mostly in the red: $16M over the past year.
HWM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $562M | +33% |
| Q2 2026 | $479M | +39% |
| Q1 2026 | $359M | +168% |
| Q4 2025 | $530M | +40% |
| Q3 2025 | $423M | +161% |
| Q2 2025 | $344M | +0.6% |
| Q1 2025 | $134M | +41% |
| Q4 2024 | $378M | -6.2% |
HWM generated $1.9B in free cash flow over the past year, up 51% 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 | — |
HWM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -2M shares |
| 1 year | -1.2% | -5M shares |
| 3 years | -3.6% | -15M shares |
| 5 years | -7.8% | -34M shares |
| Available history | -14% | -63M shares |
HWM has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $500M |
| Q2 2026 | $300M |
| Q1 2026 | $300M |
| Q4 2025 | $200M |
| Q3 2025 | $200M |
| Q2 2025 | $175M |
| Q1 2025 | $125M |
| Q4 2024 | $190M |
HWM spent $1.3B buying back its own shares over the past year, up 88% from the year before.
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.
HWM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.3x | Healthy |
| Q2 2026 | 1.4x | Healthy |
| Q1 2026 | 0.9x | Very low |
| Q4 2025 | 1.0x | Very low |
| Q3 2025 | 1.1x | Healthy |
| Q2 2025 | 1.3x | Healthy |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 1.4x | Healthy |
HWM 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).
HWM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.8 | Neutral |
| Stochastic | 22.0 | Neutral |
HWM's weekly RSI is 45 (neutral) and its Stochastic is 22 (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 HWM on valuation relative to its sector.
HWM PE vs Industrials Sector
| Metric | HWM | Sector median | Relative |
|---|---|---|---|
| PE | 44x | 24x | 81% above |
| PE % | 51 | 58 | 7 pts below |
HWM is trading at 44x earnings, a 81% premium to 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.
HWM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $215.5 | 3.5% above |
| 20 week MA | $246.8 | 9.6% below |
| 50 week MA | $241.8 | 7.7% below |
| 100 week MA | $201.1 | 11% above |
| 200 week MA | $133.0 | 68% above |
HWM 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.
HWM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $31.1 | $27.4 | -12% |
| 2021 | $27.4 | $31.1 | +14% |
| 2022 | $31.1 | $39.1 | +25% |
| 2023 | $39.1 | $54.1 | +39% |
| 2024 | $54.1 | $111.2 | +106% |
| 2025 | $111.2 | $211.2 | +90% |
| 2026 YTD | $211.2 | $223.1 | +5.6% |
HWM has the edge over BA on returns for 2026, with the stronger performance.