BA
The Boeing Company
BA has lower modeled downside risk, despite its lower overall score.
LTM
LATAM Airlines Group S.A.
LTM has a slight edge over BA overall, supported by stronger fundamentals 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.
LTM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Stable |
LTM's revenue, profitability and cash flow are currently healthy, and its balance sheet 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 LTM in the historical PE scenario, which offers more potential upside but is not a forecast.
LTM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.1x | $47.52 | +0.2% |
| Current | 9.1x | $47.41 | — |
| Fair | 11x | $58.88 | +24% |
| Expensive | 14x | $71.08 | +50% |
Historical ranges are pointers, not guarantees.
LTM's PE is 9.1x, but its earnings don't support one, so it isn't a reliable read right now.
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.
LTM Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for LTM, with profitability improving. However, they disagree widely on these estimates.
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.
LTM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $5.20 | +30% |
| Q1 2026 | $5.60 | +52% |
| Q4 2025 | $4.80 | +46% |
| Q3 2025 | $4.20 | +84% |
| Q2 2025 | $4.00 | +95% |
| Q1 2025 | $3.68 | +80% |
| Q4 2024 | $3.28 | +99% |
| Q3 2024 | $2.28 | -77% |
LTM 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.
LTM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $4.1B | +27% |
| Q1 2026 | $4.1B | +22% |
| Q4 2025 | $3.9B | +16% |
| Q3 2025 | $3.8B | +17% |
| Q2 2025 | $3.3B | +7.4% |
| Q1 2025 | $3.3B | +2.5% |
| Q4 2024 | $3.3B | +3.9% |
| Q3 2024 | $3.2B | +7.3% |
LTM's revenue has grown year over year for 21 quarters in a row: $4.1B last quarter, up 27% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 5.5% | -7.4 points |
| Q1 2026 | 20% | +3.4 points |
| Q4 2025 | 17% | +3.9 points |
| Q3 2025 | 18% | +4.8 points |
| Q2 2025 | 13% | +3.9 points |
| Q1 2025 | 17% | +4.6 points |
| Q4 2024 | 14% | +4.7 points |
| Q3 2024 | 13% | +2.7 points |
LTM 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 LTM on cash flow, with more consistent year-over-year improvement.
LTM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $218.9M | +81% |
| Q1 2026 | $588.1M | +108% |
| Q4 2025 | $571.3M | +28% |
| Q3 2025 | $546.8M | +43% |
| Q2 2025 | $120.8M | -78% |
| Q1 2025 | $283M | -20% |
| Q4 2024 | $445.6M | +36% |
| Q3 2024 | $383.1M | -1.2% |
LTM generated $1.9B in free cash flow over the past year, up 56% 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 | — |
LTM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -1.4K shares |
| 1 year | -4% | -11.9M shares |
| 3 years | -5% | -15.1M shares |
LTM has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $2.1M |
| Q3 2025 | $429.4M |
| Q2 2025 | $152.4M |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
LTM spent $432M buying back its own shares over the past year, up 183% 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.
LTM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 1.9x | Healthy |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 1.6x | Healthy |
| Q3 2025 | 1.5x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2025 | 1.5x | Healthy |
| Q4 2024 | 1.5x | Healthy |
| Q3 2024 | 1.9x | Healthy |
LTM 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).
LTM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.8 | Neutral |
| Stochastic | 27.2 | Neutral |
LTM's weekly RSI is 46 (neutral) and its Stochastic is 27 (neutral).
BA PE vs Industrials Sector
| Metric | BA | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 24x | 26% below |
| PE % | 0 | 58 | 58 pts below |
BA is trading at 18x earnings, a 26% discount to the Industrials sector's median of 24x, though its earnings don't support one.
LTM PE vs Industrials Sector
| Metric | LTM | Sector median | Relative |
|---|---|---|---|
| PE | 9.1x | 24x | 62% below |
| PE % | 12 | 37 | 25 pts below |
LTM has the edge over BA on valuation relative to its sector.
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 |
LTM has stronger trend alignment. BA is above 0 of 5 weekly averages versus LTM above 1 of 4.
LTM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $47.7 | 0.7% below |
| 20 week MA | $50.8 | 6.7% below |
| 50 week MA | $52.7 | 10% below |
| 100 week MA | $45.2 | 4.9% above |
LTM has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 4.9% above its 100-week average.
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.
LTM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $25.3 | $27.5 | +8.8% |
| 2025 | $27.5 | $54.0 | +97% |
| 2026 YTD | $54.0 | $47.4 | -12% |
LTM has the edge over BA on returns for 2026, with the stronger performance.