BA
The Boeing Company
BA offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
KEX
Kirby Corporation
KEX has the edge over BA overall, supported by stronger valuation and stronger modeled upside.
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.
KEX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Healthy |
KEX'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 KEX in the historical PE scenario, which offers more potential upside but is not a forecast.
KEX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 15x | $129 | — |
| Current | 19x | $129 | — |
| Cheap | 20x | $142 | +11% |
| Fair | 24x | $168 | +30% |
| Expensive | 41x | $286 | +122% |
Historical ranges are pointers, not guarantees.
KEX's PE is in its cheap range at 19x. If earnings grow as analysts expect, today's price would be 15x 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.
KEX Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for KEX, 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.
KEX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.31 | +20% |
| Q3 2026 | $6.94 | +29% |
| Q2 2026 | $6.50 | +23% |
| Q1 2026 | $6.50 | +29% |
| Q4 2025 | $6.33 | +29% |
| Q3 2025 | $5.39 | +3.5% |
| Q2 2025 | $5.29 | +12% |
| Q1 2025 | $5.05 | +19% |
| Q4 2024 | $4.91 | +32% |
KEX 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 has the edge over KEX on sales, with stronger typical year-over-year growth.
| 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.
KEX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $977.2M | +12% |
| Q2 2026 | $922.4M | +7.8% |
| Q1 2026 | $844.1M | +7.4% |
| Q4 2025 | $851.8M | +6.2% |
| Q3 2025 | $871.2M | +4.8% |
| Q2 2025 | $855.5M | +3.8% |
| Q1 2025 | $785.7M | -2.8% |
| Q4 2024 | $802.3M | +0.4% |
KEX's revenue has grown year over year for six quarters in a row: $977M last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +0.6 points |
| Q2 2026 | 13% | -2.1 points |
| Q1 2026 | 13% | -0.7 points |
| Q4 2025 | 15% | +9 points |
| Q3 2025 | 15% | -0.4 points |
| Q2 2025 | 15% | +0.8 points |
| Q1 2025 | 13% | +0.9 points |
| Q4 2024 | 6.3% | -5.4 points |
KEX 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 KEX on cash flow, with more consistent year-over-year improvement.
KEX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $73.9M | -54% |
| Q2 2026 | $758K | -97% |
| Q1 2026 | $49.4M | +$91.5M |
| Q4 2025 | $265.2M | +76% |
| Q3 2025 | $160.3M | +23% |
| Q2 2025 | $22.4M | -75% |
| Q1 2025 | -$42.1M | -200% |
| Q4 2024 | $150.7M | +69% |
KEX generated $389M in free cash flow over the past year, up 34% 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 | — |
KEX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.3% | -677K shares |
| 1 year | -5.3% | -3M shares |
| 3 years | -11% | -6.7M shares |
| 5 years | -11% | -6.9M shares |
KEX has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $111.9M |
| Q2 2026 | $59.7M |
| Q1 2026 | $52.7M |
| Q4 2025 | $101.6M |
| Q3 2025 | $120M |
| Q2 2025 | $31.2M |
| Q1 2025 | $101.5M |
| Q4 2024 | $33.3M |
KEX spent $326M buying back its own shares over the past year, up 14% 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.
KEX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.3x | Healthy |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.1x | Healthy |
| Q3 2025 | 1.5x | Healthy |
| Q2 2025 | 1.6x | Healthy |
| Q1 2025 | 1.6x | Healthy |
| Q4 2024 | 1.2x | Healthy |
KEX 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).
KEX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.9 | Neutral |
| Stochastic | 40.6 | Neutral |
KEX's weekly RSI is 46 (neutral) and its Stochastic is 41 (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 KEX on valuation relative to its sector.
KEX PE vs Industrials Sector
| Metric | KEX | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 24x | 23% below |
| PE % | 6 | 58 | 52 pts below |
KEX is trading at 19x earnings, a 23% 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.
KEX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $133.3 | 3.6% below |
| 20 week MA | $136.6 | 5.9% below |
| 50 week MA | $133.2 | 3.5% below |
| 100 week MA | $117.7 | 9.1% above |
| 200 week MA | $105.2 | 22% above |
KEX 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.
KEX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $88.5 | $51.4 | -42% |
| 2021 | $51.4 | $59.7 | +16% |
| 2022 | $59.7 | $64.4 | +7.9% |
| 2023 | $64.4 | $78.5 | +22% |
| 2024 | $78.5 | $106.0 | +35% |
| 2025 | $106.0 | $110.9 | +4.6% |
| 2026 YTD | $110.9 | $128.5 | +16% |
KEX has the edge over BA on returns for 2026, with the stronger performance.