BA
The Boeing Company
BA has the edge over SPCE overall, supported by stronger fundamentals and lower modeled downside.
SPCE
Virgin Galactic Holdings, Inc.
SPCE 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.
SPCE Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| Under pressure | |
| Unavailable |
SPCE's revenue, profitability and cash flow are currently under pressure. There isn't enough data to rate its balance sheet.
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.
SPCE PE Valuation
SPCE has no meaningful PE right now: it lost money over the past year.
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.
SPCE Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| -- | |
| Limited | |
| High |
Analysts expect SPCE's losses to shrink, with revenue growing.
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 SPCE on earnings quality, reporting a profit while its opponent remains loss making.
SPCE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.20 | +$9.36 |
| Q2 2026 | -$2.90 | +$10.23 |
| Q1 2026 | -$3.87 | +$12.15 |
| Q4 2025 | -$5.44 | +$13.20 |
| Q3 2025 | -$11.56 | +$4.06 |
| Q2 2025 | -$13.13 | +$5.43 |
| Q1 2025 | -$16.02 | +$7.38 |
| Q4 2024 | -$18.64 | +$11.16 |
SPCE is still losing money, but far less than before: $2.20 per share over the past year, against $42.60 at its worst in mid-2023.
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 SPCE 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 has the edge over SPCE on profitability, with a higher operating margin.
SPCE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $427K | +17% |
| Q2 2026 | $134K | -67% |
| Q1 2026 | $227K | -51% |
| Q4 2025 | $312K | -27% |
| Q3 2025 | $365K | -9.2% |
| Q2 2025 | $406K | -90% |
| Q1 2025 | $461K | -77% |
| Q4 2024 | $429K | -85% |
SPCE's revenue is recovering but still below its 2024 peak: $427,000 last quarter, up 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -13816% | +4312 points |
| Q2 2026 | -48452% | -31225 points |
| Q1 2026 | -28895% | -9709 points |
| Q4 2025 | -19483% | -380 points |
| Q3 2025 | -18128% | +2203 points |
| Q2 2025 | -17227% | -14815 points |
| Q1 2025 | -19186% | -13586 points |
| Q4 2024 | -19103% | -15035 points |
SPCE's operating margin was −13816% last quarter, up 4312 points from the same quarter a year ago.
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 SPCE on cash generation, producing positive trailing cash flow while its opponent burns cash.
SPCE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$99.1M | +$8.6M |
| Q2 2026 | -$90.7M | +$23.1M |
| Q1 2026 | -$93.3M | +$28.7M |
| Q4 2025 | -$94.6M | +$22.1M |
| Q3 2025 | -$107.8M | +$10.2M |
| Q2 2025 | -$113.8M | -$260K |
| Q1 2025 | -$122M | +$4.3M |
| Q4 2024 | -$116.7M | -$3.1M |
SPCE has burned cash in almost every quarter: −$378M over the past year, against −$460M 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 SPCE on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2019 | — |
SPCE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +37% | +40.8M shares |
| 1 year | +232% | +106M shares |
| 3 years | +989% | +138M shares |
| 5 years | +1195% | +140M shares |
| Available history | +1460% | +142M shares |
SPCE has 152M diluted shares, up 232% from a year ago.
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.
SPCE Net Leverage
SPCE's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
SPCE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.1 | Neutral |
| Stochastic | 33.7 | Neutral |
SPCE's weekly RSI is 46 (neutral) and its Stochastic is 34 (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.
SPCE PE vs Industrials Sector
SPCE 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.
SPCE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.75 | 2.9% below |
| 20 week MA | $2.82 | 5.3% below |
| 50 week MA | $2.99 | 11% below |
| 100 week MA | $3.38 | 21% below |
| 200 week MA | $23.0 | 88% below |
SPCE is in a downtrend: it's below all five of its weekly moving averages, and 88% 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 finished lower in four of the last six years. It's down 21% so far in 2026.
SPCE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $231.2 | $517.0 | +124% |
| 2021 | $517.0 | $290.6 | -44% |
| 2022 | $290.6 | $73.0 | -75% |
| 2023 | $73.0 | $49.0 | -33% |
| 2024 | $49.0 | $6.38 | -87% |
| 2025 | $6.38 | $3.16 | -50% |
| 2026 YTD | $3.16 | $2.67 | -16% |
SPCE has the edge over BA on returns for 2026, with the stronger performance.