BA
The Boeing Company
BA has the edge over MEC overall, supported by stronger fundamentals and lower modeled downside.
MEC
Mayville Engineering Company, Inc.
MEC offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
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.
MEC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Under pressure |
MEC's revenue is currently healthy, but its profitability, cash flow and balance sheet are under pressure.
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's PE is 18x, but its earnings don't support one, so it isn't a reliable read right now.
MEC PE Valuation
MEC has no meaningful PE right now: it lost money over the past year. If it returns to profit as analysts expect, today's price would be 25x 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.
MEC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect MEC to return to profit, with revenue growing. 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 the edge over MEC on earnings quality, reporting a profit while its opponent remains loss making.
MEC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.56 | — |
| Q3 2026 | -$0.69 | -219% |
| Q2 2026 | -$0.84 | -199% |
| Q1 2026 | -$0.80 | -174% |
| Q4 2025 | -$0.40 | -132% |
| Q3 2025 | $0.58 | -1.7% |
| Q2 2025 | $0.85 | +63% |
| Q1 2025 | $1.08 | +157% |
| Q4 2024 | $1.24 | +226% |
MEC has swung to a loss: it lost $0.69 per share over the past year, after a profit 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 MEC 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.
MEC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $170.4M | +18% |
| Q2 2026 | $163M | +23% |
| Q1 2026 | $144.8M | +6.8% |
| Q4 2025 | $134.3M | +11% |
| Q3 2025 | $144.3M | +6.6% |
| Q2 2025 | $132.3M | -19% |
| Q1 2025 | $135.6M | -16% |
| Q4 2024 | $121.3M | -18% |
MEC's revenue has grown year over year for five quarters in a row: $170M last quarter, up 18% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 2.5% | +2.5 points |
| Q2 2026 | 0.2% | +0.2 points |
| Q1 2026 | -5.3% | -6.5 points |
| Q4 2025 | -4.1% | -23 points |
| Q3 2025 | 0% | -4.2 points |
| Q2 2025 | 0.1% | -4.9 points |
| Q1 2025 | 1.2% | -3.6 points |
| Q4 2024 | 19% | +15 points |
MEC 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 MEC on cash generation, producing positive trailing cash flow while its opponent burns cash.
MEC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$3.4M | -$2.2M |
| Q2 2026 | -$6.6M | -153% |
| Q1 2026 | -$6.9M | -229% |
| Q4 2025 | $10.2M | -71% |
| Q3 2025 | -$1.1M | -108% |
| Q2 2025 | $12.5M | -35% |
| Q1 2025 | $5.4M | -32% |
| Q4 2024 | $35.6M | +79% |
MEC's free cash flow was −$7M over the past year, against $52M 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 the edge over MEC on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2019 | — |
MEC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +3.1M shares |
| 1 year | +25% | +5.1M shares |
| 3 years | +25% | +5.2M shares |
| 5 years | +23% | +4.9M shares |
| Available history | +31% | +6.1M shares |
MEC has 26M diluted shares, up 25% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $2.9M |
| Q1 2025 | $1.7M |
| Q4 2024 | $3.9M |
| Q3 2024 | $998,000 |
| Q4 2023 | — |
| Q3 2023 | $1M |
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 has the edge over MEC on leverage, with a lower net debt burden relative to earnings.
MEC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.6x | Elevated |
| Q2 2026 | 3.9x | Elevated |
| Q1 2026 | 7.1x | High |
| Q4 2025 | 5.4x | High |
| Q3 2025 | 3.3x | Elevated |
| Q2 2025 | 1.0x | Healthy |
| Q1 2025 | 1.0x | Healthy |
| Q4 2024 | 1.0x | Very low |
MEC's net debt is about 3.6 years of its operating earnings (EBITDA), up from 3.3 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).
MEC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.7 | Neutral |
| Stochastic | 10.3 | Oversold |
MEC's weekly RSI is 35 (neutral) and its Stochastic is 10 (oversold).
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.
MEC PE vs Industrials Sector
| Metric | MEC | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
MEC has no meaningful PE right now: it lost money over the past year.
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.
MEC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $14.7 | 4.7% below |
| 20 week MA | $20.8 | 33% below |
| 50 week MA | $21.8 | 36% below |
| 100 week MA | $18.4 | 24% below |
| 200 week MA | $16.5 | 15% below |
MEC is in a downtrend: it's below all five of its weekly moving averages, and 15% below its 200-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 the edge over MEC on returns for 2026, with the stronger performance.
MEC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.90 | $12.8 | +29% |
| 2021 | $12.8 | $14.4 | +12% |
| 2022 | $14.4 | $13.0 | -9.9% |
| 2023 | $13.0 | $14.4 | +11% |
| 2024 | $14.4 | $15.7 | +8.8% |
| 2025 | $15.7 | $19.1 | +22% |
| 2026 YTD | $19.1 | $14.0 | -27% |
MEC has finished higher in five of the last six years. It's down 27% so far in 2026.