BA
The Boeing Company
BA offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
MATX
Matson, Inc.
MATX has the edge over BA overall, supported by stronger modeled upside and 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.
MATX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Strong |
MATX'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 MATX in the historical PE scenario, which offers more potential upside but is not a forecast.
MATX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 3.9x | $67.66 | -68% |
| Fair | 11x | $187 | -12% |
| Forward | 11x | $213 | — |
| Current | 12x | $213 | — |
| Expensive | 16x | $279 | +31% |
Historical ranges are pointers, not guarantees.
MATX's PE is in its fair range at 12x. If earnings grow as analysts expect, today's price would be 11x 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.
MATX Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for MATX, 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.
MATX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $19.39 | +10% |
| Q3 2026 | $17.55 | +35% |
| Q2 2026 | $14.83 | +1% |
| Q1 2026 | $13.48 | -11% |
| Q4 2025 | $13.81 | -0.9% |
| Q3 2025 | $13.03 | +8.9% |
| Q2 2025 | $14.68 | +55% |
| Q1 2025 | $15.07 | +79% |
| Q4 2024 | $13.93 | +67% |
MATX 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 MATX 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.
MATX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +27% |
| Q2 2026 | $969.4M | +17% |
| Q1 2026 | $757.8M | -3.1% |
| Q4 2025 | $851.9M | -4.3% |
| Q3 2025 | $880.1M | -8.5% |
| Q2 2025 | $830.5M | -2% |
| Q1 2025 | $782M | +8.3% |
| Q4 2024 | $890.3M | +13% |
MATX's revenue is growing: $1.1B last quarter, up 27% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +4.6 points |
| Q2 2026 | 16% | +2.8 points |
| Q1 2026 | 8.1% | -2.4 points |
| Q4 2025 | 17% | +0.3 points |
| Q3 2025 | 18% | -6.9 points |
| Q2 2025 | 14% | -1.1 points |
| Q1 2025 | 11% | +5.4 points |
| Q4 2024 | 17% | +7 points |
MATX 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 MATX on cash flow, with more consistent year-over-year improvement.
MATX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $229M | +148% |
| Q2 2026 | $137.6M | +613% |
| Q1 2026 | $45.7M | +$45.9M |
| Q3 2025 | $92.4M | -63% |
| Q2 2025 | $19.3M | -94% |
| Q1 2025 | -$200K | -101% |
| Q3 2024 | $248.6M | +63% |
| Q2 2024 | $307.9M | +106% |
MATX still generates free cash flow, though less than at its 2022 peak: $455M over the past year.
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 | — |
MATX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -200K shares |
| 1 year | -5.3% | -1.7M shares |
| 3 years | -15% | -5.2M shares |
| 5 years | -31% | -13.3M shares |
| Available history | -30% | -13.2M shares |
MATX has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $60.3M |
| Q2 2026 | $67M |
| Q1 2026 | $52.8M |
| Q4 2025 | $77.5M |
| Q3 2025 | $65.4M |
| Q2 2025 | $93.5M |
| Q1 2025 | $66.9M |
| Q4 2024 | $31.7M |
MATX spent $258M buying back its own shares over the past year, about the same as 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.
MATX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2021 | 0.7x | Very low |
| Q2 2021 | 1.0x | Healthy |
| Q1 2021 | 1.4x | Healthy |
| Q4 2020 | 2.0x | Moderate |
| Q3 2020 | 2.8x | Moderate |
| Q2 2020 | 3.6x | Elevated |
| Q1 2020 | 4.2x | High |
| Q4 2019 | 4.3x | High |
MATX's net debt is less than a year of its operating earnings (EBITDA), down from 2.8 years a year ago.
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).
MATX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.3 | Neutral |
| Stochastic | 38.4 | Neutral |
MATX's weekly RSI is 52 (neutral) and its Stochastic is 38 (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.
MATX PE vs Industrials Sector
| Metric | MATX | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 24x | 50% below |
| PE % | 56 | 58 | 2 pts below |
MATX 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 |
BA is in a downtrend: it's below all five of its weekly moving averages, and 14% below its 200-week average.
MATX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $224.2 | 5.2% below |
| 20 week MA | $219.9 | 3.3% below |
| 50 week MA | $184.8 | 15% above |
| 100 week MA | $150.0 | 42% above |
| 200 week MA | $126.7 | 68% above |
MATX 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.
MATX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $41.1 | $57.3 | +39% |
| 2021 | $57.3 | $83.7 | +46% |
| 2022 | $83.7 | $64.5 | -23% |
| 2023 | $64.5 | $109.6 | +70% |
| 2024 | $109.6 | $136.5 | +25% |
| 2025 | $136.5 | $125.0 | -8.4% |
| 2026 YTD | $125.0 | $212.6 | +70% |
MATX has the edge over BA on returns for 2026, with the stronger performance.