BA
The Boeing Company
BA offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
ITW
Illinois Tool Works Inc.
ITW has the edge over BA overall, supported by lower modeled downside.
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.
ITW Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Healthy |
ITW'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 ITW in the historical PE scenario, which offers more potential upside but is not a forecast.
ITW PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 23x | $253 | -12% |
| Fair | 24x | $274 | -4.4% |
| Forward | 24x | $287 | — |
| Current | 26x | $287 | — |
| Expensive | 28x | $311 | +8.4% |
Historical ranges are pointers, not guarantees.
ITW's PE is in its expensive range at 26x. If earnings grow as analysts expect, today's price would be 24x next year's earnings, in its fair range.
BA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Improving | |
| Limited | |
| Low |
BA has the edge over ITW on the outlook, with more favorable revenue expectations.
ITW Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect ITW's earnings to grow and its profitability to improve, with its revenue holding steady.
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.
ITW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $12.04 | +7.3% |
| Q3 2026 | $11.22 | +8.9% |
| Q2 2026 | $11.03 | -3.2% |
| Q1 2026 | $10.77 | -5.2% |
| Q4 2025 | $10.49 | -10% |
| Q3 2025 | $10.30 | -11% |
| Q2 2025 | $11.40 | +12% |
| Q1 2025 | $11.36 | +12% |
| Q4 2024 | $11.71 | +20% |
ITW earned $11.22 per share over the past year, up 8.9% from the year before.
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 has the edge over ITW on sales, with more consistent year-over-year improvement.
| 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.
ITW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.2B | +4.4% |
| Q2 2026 | $4.3B | +6.1% |
| Q1 2026 | $4B | +4.6% |
| Q4 2025 | $4.1B | +4.1% |
| Q3 2025 | $4.1B | +2.3% |
| Q2 2025 | $4.1B | +0.6% |
| Q1 2025 | $3.8B | -3.4% |
| Q4 2024 | $3.9B | -1.3% |
ITW's revenue has grown year over year for six quarters in a row: $4.2B last quarter, up 4.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 28% | +0.4 points |
| Q2 2026 | 27% | +0.3 points |
| Q1 2026 | 25% | +0.6 points |
| Q4 2025 | 27% | +0.3 points |
| Q3 2025 | 27% | +0.9 points |
| Q2 2025 | 26% | +0.2 points |
| Q1 2025 | 25% | -3.6 points |
| Q4 2024 | 26% | +1.4 points |
ITW 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 ITW on cash flow, with more consistent year-over-year improvement.
ITW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $851M | -5.9% |
| Q2 2026 | $631M | +41% |
| Q1 2026 | $528M | +6.5% |
| Q4 2025 | $858M | -14% |
| Q3 2025 | $904M | +15% |
| Q2 2025 | $449M | -21% |
| Q1 2025 | $496M | +0.4% |
| Q4 2024 | $996M | +9.7% |
ITW's free cash flow has been positive every quarter for seven years: $2.9B over the past year, about the same as 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 | — |
ITW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -1.7M shares |
| 1 year | -2.2% | -6.4M shares |
| 3 years | -5.8% | -17.7M shares |
| 5 years | -9.7% | -30.6M shares |
| Available history | -12% | -40.3M shares |
ITW has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $187M |
| Q2 2026 | $750M |
| Q1 2026 | $375M |
| Q4 2025 | $375M |
| Q3 2025 | $375M |
| Q2 2025 | $375M |
| Q1 2025 | $375M |
| Q4 2024 | $375M |
ITW spent $1.7B buying back its own shares over the past year, up 12% 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.
ITW Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.8x | Healthy |
| Q2 2026 | 1.9x | Healthy |
| Q1 2026 | 1.8x | Healthy |
| Q4 2025 | 1.8x | Healthy |
| Q3 2025 | 1.8x | Healthy |
| Q2 2025 | 1.9x | Healthy |
| Q1 2025 | 1.7x | Healthy |
| Q4 2024 | 1.5x | Healthy |
ITW 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).
ITW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 60.0 | Neutral |
| Stochastic | 59.9 | Neutral |
ITW's weekly RSI is 60 (neutral) and its Stochastic is 60 (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 ITW on valuation relative to its sector.
ITW PE vs Industrials Sector
| Metric | ITW | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 24x | 6.4% above |
| PE % | 67 | 58 | 9 pts above |
ITW is trading at 26x 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.
ITW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $274.5 | 4.5% above |
| 20 week MA | $277.0 | 3.5% above |
| 50 week MA | $269.0 | 6.6% above |
| 100 week MA | $260.5 | 10% above |
| 200 week MA | $253.6 | 13% above |
ITW 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.
ITW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $181.1 | $202.4 | +12% |
| 2021 | $202.4 | $240.5 | +19% |
| 2022 | $240.5 | $222.0 | -7.7% |
| 2023 | $222.0 | $261.9 | +18% |
| 2024 | $261.9 | $256.6 | -2.1% |
| 2025 | $256.6 | $252.5 | -1.6% |
| 2026 YTD | $252.5 | $286.8 | +14% |
ITW has the edge over BA on returns for 2026, with the stronger performance.