AST SpaceMobile vs. Boeing: Which Technology Stock Is a Better Buy in 2026?

Will the explosive growth of a satellite pioneer or the recovery of an aerospace titan yield better results for your portfolio? Investors must weigh AST SpaceMobile (NASDAQ:ASTS) against Boeing (NYSE:BA) today.

AST SpaceMobile aims to revolutionize global connectivity via space-based cellular broadband for standard smartphones. Meanwhile, Boeing remains a cornerstone of global aviation and national security, manufacturing commercial planes and defense systems. Both companies face high-stakes capital requirements and technical hurdles, making this a classic matchup of growth potential versus industrial scale.

The case for AST SpaceMobile

AST SpaceMobile is developing the first space-based cellular broadband network designed to connect directly to existing mobile devices. The company has secured definitive commercial agreements with major partners like AT&T and Verizon, targeting a global market of nearly 3 billion subscribers. However, having a few massive telecommunications partners means that customer concentration like this adds a layer of risk to the business.

In FY 2025, the company reported revenue of nearly $70.9 million, representing growth of roughly 1,505.2% over the previous year. It reported a net loss of approximately $341.9 million for the same period. This resulted in a net margin of negative 482.2% as the firm builds out its satellite infrastructure to support commercial service.

As of its December 2025 balance sheet, the company maintained a current ratio of roughly 16.4x. This metric, which indicates the ability to cover short-term liabilities with current assets, shows a healthy liquidity position. The debt-to-equity ratio, comparing total debt to shareholder equity, is approximately 1.2x, while negative free cash flow reached nearly $1.1 billion. Monitoring how quickly firms burn through cash reserves is essential when investing in best small cap tech stocks.

The case for Boeing

Boeing operates across commercial airplanes, defense, and space systems, serving a diverse global customer base. Its major customers include commercial airlines and government agencies such as NASA and the U.S. Department of War. The company recently integrated Spirit AeroSystems into its production system to better manage its complex supply chain and quality control requirements.

For FY 2025, revenue reached nearly $89.5 billion, an increase of roughly 34.5% year over year. The company generated a net income of nearly $2.2 billion during this period. This yielded a net margin of approximately 2.5%, marking a return to profitability after several years of significant net losses.

As of the December 2025 balance sheet, the debt-to-equity ratio is roughly 10.0x, indicating that total liabilities exceed shareholder equity by 10 times. The current ratio is approximately 1.2x. Free cash flow remained negative at nearly $1.9 billion. Note that stock-based compensation accounted for roughly 40.0% of operating cash flow, thereby inflating reported cash generation, since SBC is a non-cash expense.

Risk profile comparison

AST SpaceMobile requires substantial additional capital to expand its satellite constellation, and failure to secure financing could jeopardize its operations. The business also faces intense competition from established players like EchoStar (NASDAQ:SATS) and private rivals. Furthermore, operations are highly dependent on securing and maintaining critical regulatory licenses from the FCC and international bodies to rollout services.

Boeing faces ongoing production challenges and must adhere to strict FAA quality standards following previous safety accidents. A significant portion of its defense business relies on fixed-price contracts, which can lead to losses if development costs exceed estimates. Additionally, the company is vulnerable to shifts in U.S. government spending and competition from rivals like Lockheed Martin (NYSE:LMT) in the defense space.

Valuation comparison

While Boeing trades at a lower forward P/E, which measures price relative to future earnings estimates, AST SpaceMobile commands a premium based on its potential for revenue growth.

Sector benchmark uses the SPDR XLK sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

Which stock would I buy in 2026?

If you’re seeking a highflier, both AST and Boeing present compelling cases. They represent different opportunities and appeal to different types of investors, though. AST is an early-stage company developing new technology and presents an opportunity for high growth. Boeing is a well-established company with multiple businesses and government contracts. Which one is the better investment for 2026?

Here's what makes AST so interesting: It is developing a satellite network that connects directly to standard smartphones, aiming to end “dead zones” not covered by standard land-based repeaters. But then, so are Starlink and other companies, so it’s facing competition. It’s also pre-revenue and investing heavily in its development. While it has great potential, its stock could also be volatile, to say the least.

Boeing is a diversified aerospace and defense giant. It has businesses in commercial aviation and space, and contracts with the U.S. government. Diversification is good for investors and can also be a major stability factor for a company. It has faced recent challenges from debt, production, and regulatory issues, but it still offers growth potential.

Aggressive investors, or those with a high risk tolerance, may find AST’s enormous potential appealing. But for those looking for a more established company with diversified operations and turnaround upside, Boeing is the stronger option, and the one I would choose.

Pamela Kock has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends AST SpaceMobile and Boeing. The Motley Fool recommends Lockheed Martin. The Motley Fool has a disclosure policy.