Saturday 31 October 2026 Export BA’s income statement to Excel — free account

The Boeing Company

The Boeing Company’s revenue for fiscal 2025 (year ended December 2025) was $89.5 billion, up 34.5% from fiscal 2024. In the quarter to June 2026, revenue grew 7.96%, EPS grew 27.2%, free cash flow grew 417.6% and total debt fell 13.9%, each against the same quarter a year earlier. Member of the S&P 500 and Dow Jones; dividend growth for twenty-five consecutive years; insiders bought in the last twelve months.

171.42 1.23 −0.71%

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Market cap: $136.8B
P/E: 64.2×
Fwd P/E: −512×
Dividend yield: —
F-score: 6/9
Altman Z: 1.51
Beneish M: −2.98
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Filings

Insider Decisions trades per month

Total buys 0.90

Total sells 5.25

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	1	—	—	—	1	—	1	—	—	—	—	—
Sell	1	—	—	4	—	—	—	—	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 136,820.00

Revenue 93,995.00

Net Income 2,446.00

Free Cash Flow (129.00)

Net Debt 25,878.00

Current Ratio 1.14

Debt/Equity 7.51

P/E ratio 64.20

Fwd P/E (512.00)

P/S ratio 1.44

P/B ratio 22.18

Past 5Y EPS Growth —

This Y EPS Growth (247.25%)

Next Y EPS Growth 181.14%

Next Y revenue growth 8.98%

Next 5Y EPS Growth 66.38%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 82.96%

10-year low 10-year high

P/S against its own 10 years 25.85%

10-year low 10-year high

P/B against its own 10 years 14.13%

10-year low 10-year high

EV/Sales against its own 10 years 19.21%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	Powerpack
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	2.06	2.06
2019	8.22	2.06 2.06 2.06 2.06
2018	6.84	1.71 1.71 1.71 1.71
2017	5.68	1.42 1.42 1.42 1.42
2016	4.36	1.09 1.09 1.09 1.09

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	15,965	26,282	29,400	20,022
Receivables	11,065	11,201	12,079	13,175
Inventory	79,741	87,550	84,679	88,388
Other	2,504	2,965	2,301	3,045
	109,275	127,998	128,459	124,630

	2023	2024	2025	Q'26
Payables	11,964	11,364	13,109	14,346
ST’ Debt	5,204	1,278	8,461	4,565
Other	56,328	60,333	59,404	64,059
	95,827	97,078	108,115	109,563

Compound Annual Growth %

	10y	5y	3y
Sales	(0.71%)	9.00%	10.33%
Cash Flow	(19.54%)	0.00%	(32.82%)
Earnings	(9.58%)	0.00%	0.00%
Book Value	(1.58%)	0.00%	0.00%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate −0.21 Actual −0.34

−2.22 −1.54 −0.86 −0.18 0.50

Q4 FY25 Miss −1.45

Q1 FY26 Beat +0.75

Q2 FY26 Miss −0.42

Q3 FY26 Miss −0.13

Q4 FY26 — Jan 26

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q4 FY25	−0.46	−1.91	Miss by 1.45
Q1 FY26	−0.95	−0.20	Beat by 0.75
Q2 FY26	−0.34	−0.76	Miss by 0.42
Q3 FY26	−0.21	−0.34	Miss by 0.13
Q4 FY26	0.19	—	Reports 26 January 2027

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.11)	(0.67)	—	—	—
’25	(0.16)	(0.92)	(7.14)	10.23	2.48
’24	(0.56)	(2.33)	(9.97)	(5.46)	(18.36)
’23	(0.69)	(0.25)	(2.70)	(0.04)	(3.67)
’22	(2.06)	0.32	(5.49)	(1.06)	(8.30)
’21	(0.92)	1.00	(0.19)	(7.02)	(7.15)
’20	(1.11)	(4.20)	(0.79)	(14.65)	(20.88)

Fiscal quarters ending in the months shown.

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	22,217	24,560	—	—	—
’25	19,496	22,749	23,270	23,948	89,463
’24	16,569	16,866	17,840	15,242	66,517
’23	17,921	19,751	18,104	22,018	77,794
’22	13,991	16,681	15,956	19,980	66,608
’21	15,217	16,998	15,278	14,793	62,286
’20	16,908	11,807	14,139	15,304	58,158

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(179)	1,364	—	—	—
’25	(1,616)	227	1,123	1,331	1,065
’24	(3,362)	(3,923)	(1,345)	(3,450)	(12,080)
’23	(318)	2,875	22	3,381	5,960
’22	(3,216)	81	3,190	3,457	3,512
’21	(3,387)	(483)	(262)	716	(3,416)
’20	(4,302)	(5,280)	(4,819)	(4,009)	(18,410)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(1,452)	632	—	—	—
’25	(2,287)	(199)	239	443	(1,804)
’24	(3,918)	(4,396)	(1,940)	(4,095)	(14,349)
’23	(781)	2,587	(304)	2,958	4,460
’22	(3,557)	(174)	2,909	3,147	2,325
’21	(3,676)	(656)	(173)	638	(3,867)
’20	(4,672)	(5,590)	(4,902)	(4,253)	(19,417)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
												Ten-year view		Analyst estimates Powerpack
Price, $
Price, $	Low	102.10	155.21	292.47	309.40	89.00	185.26	113.02	176.25	137.03	128.88		+2.6%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	High	160.07	299.33	394.28	446.01	349.95	278.57	229.67	267.54	258.59	242.69		+4.7%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
People
People	Employees	150,500	140,800	153,000	161,100	141,000	142,000	156,000	171,000	172,000	182,000		+2.1%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	Revenue/emp, $m	0.62	0.67	0.66	0.48	0.41	0.44	0.43	0.45	0.39	0.49		(2.6%)	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
Income, $m
Income, $m	Revenue	93,496	94,005	101,127	76,559	58,158	62,286	66,608	77,794	66,517	89,463		(0.5%)	97,499	111,920	123,731	+11.4%
	Gross margin, %	15.54	18.58	19.49	5.91	(9.70)	4.90	5.30	9.93	(2.99)	4.79		(10.8) pt	Powerpack The Boeing Company’s next three years, line by line Analysts expect revenue to grow 11.4% a year to 2028 — faster than the −0.5% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	5,783	10,107	11,604	(2,259)	(14,476)	(5,033)	(5,022)	(2,005)	(12,210)	2,635		(8.4%)
	EBT margin, %	6.19	10.75	11.47	(2.95)	(24.89)	(8.08)	(7.54)	(2.58)	(18.36)	2.95		(3.2) pt
	Net income	5,034	8,458	10,460	(636)	(11,941)	(4,290)	(5,053)	(2,242)	(11,829)	2,238		(8.6%)
	Depreciation	1,889	2,047	2,114	2,271	2,246	2,144	1,979	1,861	1,836	1,953		+0.4%
Per share, $
Per share, $	Revenue	147.12	156.02	174.60	135.41	102.28	106.00	111.97	128.42	102.82	117.75		(2.4%)
	Earnings	7.70	13.60	18.05	(1.12)	(20.88)	(7.15)	(8.30)	(3.67)	(18.36)	2.49		(11.8%)
	Cash flow	16.52	22.15	26.45	(4.33)	(32.38)	(5.81)	5.90	9.84	(18.67)	1.40		(24.0%)
	Capex	(4.05)	(2.95)	(2.88)	(2.88)	(1.77)	(0.77)	(2.00)	(2.48)	(3.51)	(3.78)		(0.8%)
	Free cash flow	12.46	19.20	23.57	(7.20)	(34.15)	(6.58)	3.91	7.36	(22.18)	(2.37)		n/m
	Book value	1.38	2.84	0.71	(14.68)	(31.79)	(25.27)	(26.64)	(28.44)	(6.05)	7.18		+20.1%
	Shares, m	636	603	579	565	569	588	595	606	647	760		+2.0%
Valuation, ×
Valuation, ×	P/E	20.25	21.76	17.85	0.00	0.00	0.00	0.00	0.00	0.00	91.61		15.1
	P/S	1.07	1.90	1.85	2.41	2.09	1.90	1.75	1.96	1.72	1.84		1.8
	P/B	113.75	104.41	455.59	0.00	0.00	0.00	0.00	0.00	0.00	30.26		70.4
	EV/Sales	1.07	1.91	1.90	2.63	2.75	2.57	2.34	2.43	2.14	2.12		2.2
	EV/FCF	12.81	15.56	14.07	(49.30)	(8.17)	(39.97)	71.40	43.39	(9.90)	(105.14)		(5.5)
Cash, $m
Cash, $m	Operating cash flow	10,496	13,346	15,322	(2,446)	(18,410)	(3,416)	3,512	5,960	(12,080)	1,065		(22.4%)
	Capex	(2,575)	(1,778)	(1,671)	(1,627)	(1,007)	(451)	(1,187)	(1,500)	(2,269)	(2,869)		+1.2%
	Free cash flow	7,921	11,568	13,651	(4,073)	(19,417)	(3,867)	2,325	4,460	(14,349)	(1,804)		n/m
Balance, $m
Balance, $m	Working capital	12,354	10,546	6,240	4,917	34,362	26,674	19,471	13,448	30,920	20,344		+5.7%
	Total debt	9,952	11,117	13,847	27,302	63,583	58,102	57,001	52,307	53,864	54,098		+20.7%
	Net debt	(77)	1,125	5,283	17,272	37,993	41,858	39,781	36,342	27,582	24,698		n/m
	Shareholders’ equity	877	1,713	410	(8,300)	(18,075)	(14,846)	(15,848)	(17,228)	(3,914)	5,457		+22.5%
Returns, %
Returns, %	ROA	5.46	8.35	9.10	(0.51)	(8.31)	(2.89)	(3.58)	(1.62)	(8.10)	1.16		(4.3) pt
	ROIC	509.92	227.80	131.60	(13.76)	(40.06)	(6.64)	(9.19)	(2.53)	(28.27)	8.87		(501.0) pt
	ROE	138.33	652.66	984.74	16.12	90.03	25.53	32.16	13.44	112.30	246.77		+108.4 pt

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Where the money comes from and where it goes Fiscal 2018

Fiscal 2018: revenue by segment, and margins
Commercial Airplanes	57,499	56.86%
Defense, Space & Security	26,300	26.01%
Global Services	17,056	16.87%
Boeing Capital Corporation	274	0.27%
Gross margin		19.49%
Operating margin		11.85%
Pre-tax margin		11.47%

Revenue by segment since 2009

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
GE GE Aerospace	$323.5B	35.2×	32.9×	+21.10% (above 0%: growing)	+19.37% (above 0%: growing)	+50.21% (above 0%: growing)	35.03%	23.11%	Compare
RTX RTX Corporation	$269.1B	34.8×	30.1×	+14.49% (above 0%: growing)	+27.42% (above 0%: growing)	+1,553.61% (above 0%: growing)	20.77%	11.38%	Compare
LMT Lockheed Martin Corporation	$148.7B	23.4×	19.7×	+10.51% (above 0%: growing)	+446.58% (above 0%: growing)	+2,044.67% (above 0%: growing)	12.19%	12.36%	Compare
BA The Boeing Company	$136.8B	64.2×	— (loss-making)	+7.96% (above 0%: growing)	n/m	+417.59% (above 0%: growing)	9.83%	0.64%
GD General Dynamics Corporation	$100.3B	22.4×	20.6×	+8.07% (above 0%: growing)	+13.49% (above 0%: growing)	+17.57% (above 0%: growing)	15.49%	10.36%	Compare
HWM Howmet Aerospace Inc.	$82.1B	42.8×	33.7×	+24.06% (above 0%: growing)	+31.68% (above 0%: growing)	+38.04% (above 0%: growing)	37.34%	27.92%	Compare
NOC Northrop Grumman Corporation	$79.9B	17.7×	18.5×	+5.07% (above 0%: growing)	−5.75% (below 0%: shrinking)	+53.53% (above 0%: growing)	19.50%	10.08%	Compare
TDG Transdigm Group Incorporated	$65.0B	34.9×	30.7×	+22.53% (above 0%: growing)	+10.86% (above 0%: growing)	+13.44% (above 0%: growing)	59.39%	44.76%	Compare
LHX L3Harris Technologies Inc	$51.9B	27.9×	21.3×	+8.39% (above 0%: growing)	+28.57% (above 0%: growing)	+37.43% (above 0%: growing)	25.54%	11.12%	Compare
Median of peers	$91.2B	31.4×	25.7×	+12.50%	+23.40%	+44.13%	23.16%	11.87%

All 94 Aerospace & Defense stocks →

Business profile

Updated 27 October 2026

Boeing is a major aerospace company founded in 1917, headquartered in Chicago, and led by chief executive Kelly Ortberg. It has three businesses: Commercial Airplanes (BCA), Defense, Space & Security (BDS), and Global Services (BGS).

BCA develops, produces and sells jet aircraft to commercial airlines worldwide. Its in-production family includes 737 narrow-body aircraft and 767, 777 and 787 wide-body aircraft; it is also developing the 777X and the 737-7 and 737-10 derivatives. The company received FAA certification for the 737-7 in July and the 737-10 in October 2026.

Read the full business profile →

From the latest earnings call

Updated 27 October 2026

Kelly Ortberg said Boeing was ramping 737 production toward 47 airplanes per month while monitoring factory and supply-chain performance before moving to higher rates.
Jay Malabe said Boeing remained on track for its 2026 free-cash-flow outlook of $1 to $3 billion, with commercial deliveries and customer advances supporting the second half.

Read the Earnings & Analysis →

Analyst rating changes each firm’s latest, last six months

Firm	Date	Action	Rating	Target
Citi	Oct 29, 2026	Reiterated	Buy	260.00
Morgan Stanley	Oct 29, 2026	Target cut	Hold	225.00 → 195.00
UBS	Oct 28, 2026	Target cut	Buy	275.00 → 240.00
JPMorgan	Oct 28, 2026	Target cut	Outperform	290.00 → 240.00
BofA	Oct 28, 2026	Target cut	Buy	270.00 → 235.00
Wells Fargo	Oct 28, 2026	Target cut	Outperform	250.00 → 210.00
Barclays	Oct 28, 2026	Initiated	—	300.00
Tigress Financial	Oct 28, 2026	Target raised	Buy	295.00 → 305.00
Bank of America	Oct 25, 2026	Reiterated	Buy	270.00
Bernstein	Oct 21, 2026	Target cut	Outperform	278.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 75.54%

Held by the ten largest 44.96%

Holder	Shares	Stake	Change
Vanguard	72.81m	9.21%	+1.03m
BlackRock	61.04m	7.72%	+2.85m
Fidelity (FMR)	58.95m	7.46%	+2.07m
Capital Group	40.12m	5.08%	+9.92m
State Street	38.05m	4.81%	+623.70k
Newport Trust Company, LLC	28.26m	3.58%	−404.05k
Geode Capital Management	17.98m	2.27%	+402.74k
Natixis Investment Managers	15.80m	2.00%	−278.04k
Bank of America	11.30m	1.43%	−262.45k
T. Rowe Price	11.08m	1.40%	−789.12k

13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.