BA
The Boeing Company
BA has lower modeled downside risk, despite its lower overall score.
NAT
Nordic American Tankers Limited
NAT has a slight edge over BA overall, supported by stronger fundamentals.
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.
NAT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Healthy |
NAT'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 NAT in the historical PE scenario, which offers more potential upside but is not a forecast.
NAT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.1x | $4.10 | -39% |
| Forward | 9.7x | $6.72 | — |
| Fair | 11x | $6.51 | -3.1% |
| Current | 12x | $6.72 | — |
| Expensive | 52x | $30.15 | +349% |
Historical ranges are pointers, not guarantees.
NAT's PE is in its fair range at 12x. On analysts' estimates for next year's earnings, today's price would be 9.7x.
BA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Improving | |
| Limited | |
| Low |
BA has the edge over NAT on the outlook, with more favorable earnings and profitability expectations.
NAT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Decline | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect NAT's revenue to grow, but its earnings and profitability to decline.
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 NAT on earnings, with more consistent year-over-year improvement.
NAT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.69 | +20% |
| Q2 2026 | $0.58 | +867% |
| Q1 2026 | $0.26 | +53% |
| Q4 2025 | $0.06 | -73% |
| Q3 2025 | $0.01 | -97% |
| Q2 2025 | $0.06 | -79% |
| Q1 2025 | $0.17 | -47% |
| Q4 2024 | $0.22 | -53% |
| Q3 2024 | $0.29 | -48% |
NAT earned $0.58 per share over the past year, about 10 times what it earned 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 NAT 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.
NAT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $104.7M | +57% |
| Q1 2026 | $106.5M | +64% |
| Q4 2025 | $85.9M | +15% |
| Q3 2025 | $75M | -8.8% |
| Q2 2025 | $66.7M | -32% |
| Q1 2025 | $64.8M | -32% |
| Q4 2024 | $74.4M | +26% |
| Q3 2024 | $82.2M | +4.8% |
NAT's revenue is recovering but still below its 2020 peak: $105M last quarter, up 57% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 39% | +39 points |
| Q1 2026 | 36% | +34 points |
| Q4 2025 | 24% | +12 points |
| Q3 2025 | 9.1% | -11 points |
| Q2 2025 | 0.7% | -29 points |
| Q1 2025 | 2.1% | -22 points |
| Q4 2024 | 12% | -30 points |
| Q3 2024 | 20% | +1.3 points |
NAT 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 NAT on cash flow, with more consistent year-over-year improvement.
NAT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $68.8M | +$202.8M |
| Q1 2026 | $29.7M | +$30.9M |
| Q4 2025 | $14.7M | -24% |
| Q3 2025 | $3.9M | -89% |
| Q2 2025 | -$134M | -534% |
| Q1 2025 | -$1.1M | -103% |
| Q4 2024 | $19.4M | +$79.2M |
| Q3 2024 | $34.4M | +28% |
NAT's free cash flow has turned positive again: $117M over the past year, against −$81M 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 | — |
NAT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | 0% | -- |
| 3 years | +1.4% | +3M shares |
| 5 years | +36% | +56.2M shares |
| Available history | +49% | +69.4M shares |
NAT has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
NAT hasn't bought back shares in the past year.
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.
NAT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 1.5x | Healthy |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 3.6x | Elevated |
| Q3 2025 | 3.9x | Elevated |
| Q2 2025 | 3.4x | Elevated |
| Q1 2025 | 2.0x | Healthy |
| Q4 2024 | 1.7x | Healthy |
| Q3 2024 | 1.6x | Healthy |
NAT 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).
NAT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.1 | Neutral |
| Stochastic | 37.8 | Neutral |
NAT's weekly RSI is 49 (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.
NAT PE vs Industrials Sector
| Metric | NAT | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 24x | 52% below |
| PE % | 54 | 58 | 4 pts below |
NAT 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.
NAT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $7.68 | 13% below |
| 20 week MA | $7.12 | 5.6% below |
| 50 week MA | $5.81 | 16% above |
| 100 week MA | $4.34 | 55% above |
| 200 week MA | $4.10 | 64% above |
NAT 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.
NAT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $4.82 | $3.16 | -34% |
| 2021 | $3.16 | $1.79 | -43% |
| 2022 | $1.79 | $3.18 | +78% |
| 2023 | $3.18 | $4.20 | +32% |
| 2024 | $4.20 | $2.47 | -41% |
| 2025 | $2.47 | $3.43 | +39% |
| 2026 YTD | $3.43 | $6.72 | +96% |
NAT has the edge over BA on returns for 2026, with the stronger performance.