BA
The Boeing Company
BA has the edge over QUAD overall, supported by stronger fundamentals and stronger valuation.
QUAD
Quad/Graphics, Inc.
QUAD 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.
QUAD Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Under pressure | |
| Stable |
QUAD's profitability is currently healthy, and its revenue and balance sheet are stable, but its cash flow is 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 has the edge over QUAD in the historical PE scenario, which offers more potential upside but is not a forecast.
QUAD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 5.7x | $7.54 | — |
| Cheap | 9.2x | $4.86 | -36% |
| Fair | 14x | $7.20 | -4.5% |
| Current | 14x | $7.54 | — |
| Expensive | 16x | $8.49 | +13% |
Historical ranges are pointers, not guarantees.
QUAD's PE is in its fair range at 14x. If earnings grow as analysts expect, today's price would be 5.7x next year's earnings, in its cheap range.
BA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Improving | |
| Limited | |
| Low |
BA has the edge over QUAD on the outlook, with more favorable revenue and profitability expectations.
QUAD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect QUAD's earnings to grow, with its revenue and profitability holding steady.
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.
QUAD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.32 | +148% |
| Q3 2026 | $0.53 | +23% |
| Q2 2026 | $0.63 | +$0.93 |
| Q1 2026 | $0.56 | +$0.92 |
| Q4 2025 | $0.54 | +$1.61 |
| Q3 2025 | $0.43 | +$2.07 |
| Q2 2025 | -$0.30 | +$0.88 |
| Q1 2025 | -$0.36 | +$0.88 |
| Q4 2024 | -$1.07 | +$0.07 |
QUAD 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 QUAD 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.
QUAD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $586.7M | -0.2% |
| Q2 2026 | $577.5M | +1% |
| Q1 2026 | $581M | -7.7% |
| Q4 2025 | $630.6M | -11% |
| Q3 2025 | $588M | -13% |
| Q2 2025 | $571.9M | -9.8% |
| Q1 2025 | $629.4M | -3.9% |
| Q4 2024 | $708.4M | -10% |
QUAD's revenue has slid since its 2019 peak: $587M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 2.4% | -2.1 points |
| Q2 2026 | 2.6% | +0.2 points |
| Q1 2026 | 3% | -0.1 points |
| Q4 2025 | 5.9% | +3.1 points |
| Q3 2025 | 4.5% | +5.2 points |
| Q2 2025 | 2.4% | 0 points |
| Q1 2025 | 3.1% | +4.7 points |
| Q4 2024 | 2.8% | +2.3 points |
QUAD 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 QUAD on cash flow, with more consistent year-over-year improvement.
QUAD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$33.8M | -$13.2M |
| Q2 2026 | $40.8M | +19% |
| Q1 2026 | -$107M | -$6.7M |
| Q4 2025 | $137.2M | -6.9% |
| Q3 2025 | -$20.6M | -$10.8M |
| Q2 2025 | $34.4M | +$46.1M |
| Q1 2025 | -$100.3M | -$30.2M |
| Q4 2024 | $147.3M | +55% |
QUAD usually generates cash, though not every quarter: the latest was −$34M, but it generated $37M 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 | — |
QUAD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.8% | +400K shares |
| 1 year | +1.4% | +700K shares |
| 3 years | +5% | +2.4M shares |
| 5 years | -5.1% | -2.7M shares |
| Available history | +0.8% | +400K shares |
QUAD has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5.2M |
| Q2 2026 | $2.1M |
| Q1 2026 | $1.1M |
| Q4 2025 | $200,000 |
| Q3 2025 | $200,000 |
| Q2 2025 | $4.3M |
| Q1 2025 | $3.3M |
| Q4 2024 | — |
QUAD spent $9M buying back its own shares over the past year, up 10% 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.
QUAD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2022 | 2.9x | Moderate |
| Q4 2021 | 2.5x | Moderate |
| Q3 2021 | 3.9x | Elevated |
| Q2 2021 | 4.0x | Elevated |
| Q1 2021 | 5.5x | High |
| Q4 2020 | 6.4x | High |
| Q3 2020 | 4.1x | High |
| Q2 2020 | 4.9x | High |
QUAD's net debt is about 2.9 years of its operating earnings (EBITDA), down from 5.5 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).
QUAD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.0 | Neutral |
| Stochastic | 8.1 | Oversold |
QUAD's weekly RSI is 40 (neutral) and its Stochastic is 8 (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.
QUAD PE vs Industrials Sector
| Metric | QUAD | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 24x | 41% below |
| PE % | 55 | 58 | 3 pts below |
QUAD 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.
QUAD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.68 | 13% below |
| 20 week MA | $9.21 | 18% below |
| 50 week MA | $7.84 | 3.8% below |
| 100 week MA | $6.90 | 9.3% above |
| 200 week MA | $5.95 | 27% above |
QUAD 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.
QUAD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $4.41 | $3.52 | -20% |
| 2021 | $3.52 | $3.97 | +13% |
| 2022 | $3.97 | $3.71 | -6.5% |
| 2023 | $3.71 | $5.42 | +46% |
| 2024 | $5.42 | $7.05 | +30% |
| 2025 | $7.05 | $6.37 | -9.6% |
| 2026 YTD | $6.37 | $7.54 | +18% |
QUAD has the edge over BA on returns for 2026, with the stronger performance.