BA
The Boeing Company
BA offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
SPXC
SPX Technologies, Inc.
SPXC has the edge over BA overall, supported by stronger modeled upside and stronger valuation.
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.
SPXC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Stable | |
| Stable |
SPXC's revenue and profitability are currently healthy, and its cash flow and balance sheet are stable.
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 SPXC in the historical PE scenario, which offers more potential upside but is not a forecast.
SPXC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 16x | $151 | — |
| Cheap | 18x | $109 | -28% |
| Current | 25x | $151 | — |
| Fair | 35x | $208 | +38% |
| Expensive | 70x | $412 | +174% |
Historical ranges are pointers, not guarantees.
SPXC's PE is in its fair range at 25x. If earnings grow as analysts expect, today's price would be 16x 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 SPXC on the outlook, with more favorable profitability expectations.
SPXC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for SPXC, with 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.
SPXC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.34 | +58% |
| Q3 2026 | $5.92 | +26% |
| Q2 2026 | $5.58 | +25% |
| Q1 2026 | $5.13 | +19% |
| Q4 2025 | $5.03 | +18% |
| Q3 2025 | $4.68 | +25% |
| Q2 2025 | $4.46 | +100% |
| Q1 2025 | $4.30 | +109% |
| Q4 2024 | $4.26 | +121% |
SPXC 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's revenue has grown year over year for seven quarters in a row: $24.2B last quarter, up 3.9% from the same quarter a year ago.
| 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.
SPXC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $714.5M | +21% |
| Q2 2026 | $679M | +23% |
| Q1 2026 | $566.8M | +17% |
| Q4 2025 | $637.3M | +19% |
| Q3 2025 | $592.8M | +23% |
| Q2 2025 | $552.4M | +10% |
| Q1 2025 | $482.6M | +3.7% |
| Q4 2024 | $533.7M | +14% |
SPXC has the edge over BA on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | -0.2 points |
| Q2 2026 | 17% | +1.3 points |
| Q1 2026 | 15% | +1.7 points |
| Q4 2025 | 16% | -1.2 points |
| Q3 2025 | 16% | +0.1 points |
| Q2 2025 | 16% | +0.8 points |
| Q1 2025 | 14% | -0.1 points |
| Q4 2024 | 17% | +3.5 points |
SPXC 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 SPXC on cash flow, with more consistent year-over-year improvement.
SPXC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $19.3M | -80% |
| Q2 2026 | $68.5M | +97% |
| Q1 2026 | $12.1M | +$28.5M |
| Q4 2025 | $126.7M | -19% |
| Q3 2025 | $96.1M | +121% |
| Q2 2025 | $34.8M | -26% |
| Q1 2025 | -$16.4M | -2833% |
| Q4 2024 | $156.7M | +32% |
SPXC generated $227M in free cash flow over the past year, down 16% from 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 | — |
SPXC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -30K shares |
| 1 year | +3.5% | +1.7M shares |
| 3 years | +8.3% | +3.9M shares |
| 5 years | +8.6% | +4M shares |
| Available history | +13% | +5.7M shares |
SPXC has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
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.
SPXC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.2x | Moderate |
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.6x | Very low |
| Q2 2025 | 2.1x | Moderate |
| Q1 2025 | 1.9x | Healthy |
| Q4 2024 | 1.1x | Healthy |
SPXC 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).
SPXC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.0 | Oversold |
| Stochastic | 11.4 | Oversold |
SPXC's weekly RSI is 29 (oversold) and its Stochastic is 11 (oversold).
BA PE vs Industrials Sector
| Metric | BA | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 24x | 26% below |
| PE % | 0 | 58 | 58 pts below |
BA has the edge over SPXC on valuation relative to its sector.
SPXC PE vs Industrials Sector
| Metric | SPXC | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 24x | 5.7% above |
| PE % | 33 | 58 | 25 pts below |
SPXC is trading at 25x earnings, in line with the Industrials sector's median of 24x.
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.
SPXC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $161.9 | 7% below |
| 20 week MA | $190.1 | 21% below |
| 50 week MA | $204.8 | 26% below |
| 100 week MA | $185.3 | 19% below |
| 200 week MA | $147.0 | 2.5% above |
SPXC 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 the edge over SPXC on returns for 2026, with the stronger performance.
SPXC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $50.6 | $53.9 | +6.5% |
| 2021 | $53.9 | $57.9 | +7.3% |
| 2022 | $57.9 | $65.3 | +13% |
| 2023 | $65.3 | $101.0 | +55% |
| 2024 | $101.0 | $146.0 | +45% |
| 2025 | $146.0 | $208.5 | +43% |
| 2026 YTD | $208.5 | $150.6 | -28% |
SPXC has finished every year since 2020 higher, and it's down 28% so far in 2026.