BA
The Boeing Company
BA has lower modeled downside risk, despite its lower overall score.
VATE
INNOVATE Corp.
VATE has the edge over BA overall, supported by stronger modeled upside and 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.
VATE Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Healthy | |
| Weak |
VATE's revenue and cash flow are currently healthy, and its profitability is stable, but its balance sheet is weak.
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.
VATE PE Valuation
VATE 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.
VATE Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect VATE'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 VATE on earnings quality, reporting a profit while its opponent remains loss making.
VATE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.05 | +$6.00 |
| Q2 2026 | -$1.86 | +$4.66 |
| Q1 2026 | -$4.24 | -$0.39 |
| Q4 2025 | -$4.84 | -$0.68 |
| Q3 2025 | -$6.05 | -$2.37 |
| Q2 2025 | -$6.52 | -$3.12 |
| Q1 2025 | -$3.85 | +$1.85 |
| Q4 2024 | -$4.16 | +$0.64 |
VATE lost $0.05 per share over the past year, a smaller loss than 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'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.
VATE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $495.5M | +43% |
| Q2 2026 | $421.6M | +74% |
| Q1 2026 | $364.8M | +33% |
| Q4 2025 | $382.7M | +62% |
| Q3 2025 | $347.1M | +43% |
| Q2 2025 | $242M | -23% |
| Q1 2025 | $274.2M | -13% |
| Q4 2024 | $236.6M | -34% |
VATE's revenue has grown year over year for five quarters in a row: $496M last quarter, up 43% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 6% | +4.2 points |
| Q2 2026 | 8.2% | +6.2 points |
| Q1 2026 | 2.7% | +1.5 points |
| Q4 2025 | 3.7% | +2.7 points |
| Q3 2025 | 1.8% | -0.7 points |
| Q2 2025 | 2% | -7.2 points |
| Q1 2025 | 1.2% | +0.3 points |
| Q4 2024 | 1.1% | -2.8 points |
VATE 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 VATE on cash flow, with more consistent year-over-year improvement.
VATE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $34.8M | +83% |
| Q2 2026 | -$24.7M | -155% |
| Q1 2026 | $45.3M | +$64.1M |
| Q4 2025 | $101.1M | +196% |
| Q3 2025 | $19M | +$50.5M |
| Q2 2025 | $44.8M | +143% |
| Q1 2025 | -$18.8M | +$12.2M |
| Q4 2024 | $34.2M | -40% |
VATE generated $157M in free cash flow over the past year, up 98% 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 | — |
VATE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.9% | -264K shares |
| 1 year | +3.3% | +440K shares |
| 3 years | +75% | +5.9M shares |
| 5 years | +78% | +6M shares |
| Available history | +206% | +9.2M shares |
VATE has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
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 VATE on leverage, with a lower net debt burden relative to earnings.
VATE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.3x | High |
| Q2 2026 | 6.0x | High |
| Q1 2026 | 9.2x | High |
| Q4 2025 | 10.4x | High |
| Q3 2025 | 15.2x | High |
| Q2 2025 | 14.6x | High |
| Q1 2025 | 9.6x | High |
| Q4 2024 | 9.4x | High |
VATE's net debt is about 5.3 years of its operating earnings (EBITDA), down from 15 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).
VATE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.5 | Neutral |
| Stochastic | 2.3 | Oversold |
VATE's weekly RSI is 38 (neutral) and its Stochastic is 2 (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.
VATE PE vs Industrials Sector
VATE 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.
VATE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.21 | 22% below |
| 20 week MA | $7.91 | 39% below |
| 50 week MA | $8.41 | 42% below |
| 100 week MA | $7.38 | 34% below |
| 200 week MA | $10.2 | 52% below |
VATE is in a downtrend: it's below all five of its weekly moving averages, and 52% 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.
VATE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $21.1 | $36.8 | +74% |
| 2021 | $36.8 | $37.3 | +1.4% |
| 2022 | $37.3 | $14.2 | -62% |
| 2023 | $14.2 | $12.3 | -13% |
| 2024 | $12.3 | $5.33 | -57% |
| 2025 | $5.33 | $4.92 | -7.7% |
| 2026 YTD | $4.92 | $4.86 | -1.2% |
VATE has the edge over BA on returns for 2026, with the stronger performance.