BA
The Boeing Company
BA offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
ZTO
ZTO Express (Cayman) Inc.
ZTO has the edge over BA overall, supported by lower modeled downside.
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.
ZTO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Healthy |
ZTO'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 ZTO in the historical PE scenario, which offers more potential upside but is not a forecast.
ZTO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 10x | $20.08 | — |
| Cheap | 13x | $25.30 | +26% |
| Fair | 22x | $41.96 | +109% |
| Expensive | 32x | $62.56 | +212% |
Historical ranges are pointers, not guarantees.
ZTO's PE is 10x, but its earnings don't support one, so it isn't a reliable read right now.
BA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Improving | |
| Limited | |
| Low |
BA has the edge over ZTO on the outlook, with more favorable profitability expectations.
ZTO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Weakening | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for ZTO, but weaker profitability.
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.
ZTO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $1.93 | +21% |
| Q1 2026 | $1.72 | +0.6% |
| Q4 2025 | $1.68 | +4.3% |
| Q3 2025 | $1.62 | +3.2% |
| Q2 2025 | $1.59 | +1.9% |
| Q1 2025 | $1.71 | +10% |
| Q4 2024 | $1.61 | +1.3% |
| Q3 2024 | $1.57 | -0.6% |
ZTO 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.
ZTO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $2.2B | +23% |
| Q1 2026 | $2B | +22% |
| Q4 2025 | $2.1B | +11% |
| Q3 2025 | $1.8B | +11% |
| Q2 2025 | $1.8B | +10% |
| Q1 2025 | $1.6B | +9.4% |
| Q4 2024 | $1.9B | +22% |
| Q3 2024 | $1.6B | +18% |
ZTO's revenue has grown year over year every quarter since late 2020: $2.2B last quarter, up 23% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 22% | +0.9 points |
| Q1 2026 | 19% | -3.3 points |
| Q4 2025 | 21% | -5.8 points |
| Q3 2025 | 20% | -7 points |
| Q2 2025 | 21% | -9.1 points |
| Q1 2025 | 22% | -0.7 points |
| Q4 2024 | 27% | +0.8 points |
| Q3 2024 | 27% | -0.1 points |
ZTO 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's free cash flow has turned positive after six years mostly in the red: $16M over the past year.
ZTO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $285.4M | +$399.1M |
| Q1 2026 | $418.6M | +18% |
| Q4 2025 | -$148.3M | +$212.2M |
| Q3 2025 | $481.9M | +3.2% |
| Q2 2025 | -$113.7M | -191% |
| Q1 2025 | $354.6M | +16% |
| Q4 2024 | -$360.4M | +$30.6M |
| Q3 2024 | $467M | +5.9% |
ZTO generated $1B in free cash flow over the past year, about three times what it generated 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 | — |
ZTO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.1% | +16.6M shares |
| 1 year | -2.1% | -17.1M shares |
| 3 years | -3% | -25.2M shares |
| 5 years | -1.5% | -12M shares |
| Available history | +4.2% | +32.6M shares |
ZTO has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $766.5M |
| Q1 2026 | — |
| Q4 2025 | $188M |
| Q3 2025 | — |
| Q2 2025 | $7M |
| Q1 2025 | — |
| Q4 2024 | $173.7M |
| Q3 2024 | — |
ZTO spent $954M buying back its own shares over the past year, about five times what it spent 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.
ZTO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 0.1x | Very low |
| Q3 2025 | 0.2x | Very low |
| Q2 2025 | 0.4x | Very low |
| Q1 2025 | 0.3x | Very low |
| Q4 2024 | 0.3x | Very low |
| Q3 2024 | 0.5x | Very low |
ZTO 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).
ZTO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.1 | Neutral |
| Stochastic | 25.0 | Neutral |
ZTO's weekly RSI is 40 (neutral) and its Stochastic is 25 (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.
ZTO PE vs Industrials Sector
| Metric | ZTO | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 24x | 57% below |
| PE % | 0 | 58 | 58 pts below |
ZTO 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.
ZTO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $20.0 | 0.3% above |
| 20 week MA | $21.6 | 6.8% below |
| 50 week MA | $22.6 | 11% below |
| 100 week MA | $20.8 | 3.3% below |
| 200 week MA | $22.0 | 8.8% below |
ZTO 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.
ZTO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $23.5 | $28.0 | +19% |
| 2021 | $28.0 | $27.4 | -2.2% |
| 2022 | $27.4 | $26.4 | -3.6% |
| 2023 | $26.4 | $21.3 | -19% |
| 2024 | $21.3 | $19.7 | -7.2% |
| 2025 | $19.7 | $21.3 | +7.8% |
| 2026 YTD | $21.3 | $20.1 | -5.6% |
ZTO has the edge over BA on returns for 2026, with the stronger performance.