BA
The Boeing Company
BA has lower modeled downside risk, despite its lower overall score.
IA
Innovative Aerosystems, Inc.
IA has the edge over BA overall, supported by stronger valuation 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.
IA Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Healthy |
IA's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
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 IA in the historical PE scenario, which offers more potential upside but is not a forecast.
IA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 18x | $19.25 | -10% |
| Current | 20x | $21.51 | — |
| Forward | 20x | $21.51 | — |
| Fair | 24x | $25.49 | +19% |
| Expensive | 34x | $36.47 | +70% |
Historical ranges are pointers, not guarantees.
IA's PE is in its cheap range at 20.3x. If earnings grow as analysts expect, today's price would be 19.7x next year's earnings.
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.
IA Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for IA, 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.
IA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.09 | +3.1% |
| Q2 2026 | $1.06 | +61% |
| Q1 2026 | $0.95 | +56% |
| Q4 2025 | $1.06 | +179% |
| Q3 2025 | $0.88 | +120% |
| Q2 2025 | $0.66 | +74% |
| Q1 2025 | $0.61 | +65% |
| Q4 2024 | $0.38 | +2.7% |
| Q3 2024 | $0.40 | +14% |
IA 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.
IA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $26.7M | +11% |
| Q1 2026 | $22.4M | +2% |
| Q4 2025 | $21.8M | +37% |
| Q3 2025 | $22.2M | +45% |
| Q2 2025 | $24.1M | +105% |
| Q1 2025 | $21.9M | +104% |
| Q4 2024 | $16M | +72% |
| Q3 2024 | $15.4M | +18% |
IA has the edge over BA on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 23% | +8 points |
| Q1 2026 | 22% | -9.7 points |
| Q4 2025 | 29% | +20 points |
| Q3 2025 | 37% | +8.6 points |
| Q2 2025 | 15% | -2.7 points |
| Q1 2025 | 32% | +17 points |
| Q4 2024 | 8.4% | -8.9 points |
| Q3 2024 | 28% | +0.3 points |
IA 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 IA on cash flow, with more consistent year-over-year improvement.
IA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $4.6M | +31% |
| Q1 2026 | $666.8K | +$934.6K |
| Q4 2025 | $7M | +346% |
| Q3 2025 | $2M | +554% |
| Q2 2025 | $3.5M | +382% |
| Q1 2025 | -$267.7K | -455% |
| Q4 2024 | $1.6M | -61% |
| Q3 2024 | $299.5K | -71% |
IA generated $14M in free cash flow over the past year, up 179% 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 | — |
IA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -32K shares |
| 1 year | +2.4% | +435K shares |
| 3 years | +3.9% | +693K shares |
| 5 years | +6% | +1M shares |
| Available history | +7.8% | +1.3M shares |
IA has the edge over BA on shareholder dilution, with a more favorable share count trend.
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.
IA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 1.5x | Healthy |
| Q1 2026 | 1.8x | Healthy |
| Q4 2025 | 0.5x | Very low |
| Q3 2025 | 0.9x | Very low |
| Q2 2025 | 1.2x | Healthy |
| Q1 2025 | 1.5x | Healthy |
| Q4 2024 | 2.1x | Moderate |
| Q3 2024 | 2.3x | Moderate |
IA 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).
IA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.9 | Neutral |
| Stochastic | 40.3 | Neutral |
IA's weekly RSI is 57 (neutral) and its Stochastic is 40 (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 IA on valuation relative to its sector.
IA PE vs Industrials Sector
| Metric | IA | Sector median | Relative |
|---|---|---|---|
| PE | 20x | 24x | 16% below |
| PE % | 30 | 58 | 28 pts below |
IA is trading at 20x earnings, a 16% discount 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.
IA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $19.8 | 8.9% above |
| 20 week MA | $19.6 | 9.6% above |
| 50 week MA | $19.9 | 8% above |
| 100 week MA | $15.1 | 42% above |
| 200 week MA | $11.2 | 92% above |
IA 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.
IA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.86 | $6.58 | +12% |
| 2021 | $6.58 | $6.45 | -2% |
| 2022 | $6.45 | $8.41 | +30% |
| 2023 | $8.41 | $8.53 | +1.4% |
| 2024 | $8.53 | $8.75 | +2.6% |
| 2025 | $8.75 | $19.4 | +122% |
| 2026 YTD | $19.4 | $21.5 | +11% |
IA has the edge over BA on returns for 2026, with the stronger performance.