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Boeing (BA) stock

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NYSE: BA NYSE Aerospace & Defense Next results ~January 26, 2027

C Fundamentals grade

Boeing is an American aerospace manufacturer that designs, builds and sells commercial and military aircraft alongside related systems and services. Its commercial range in production comprises the 737 narrow-body and the 767, 777 and 787 wide-body jetliners, with the 777X and the 737-7 and 737-10 derivatives still in development. On the defence side it produces fighter, trainer, rotorcraft and tilt-rotor aircraft, tankers, missiles and defence systems, satellites and space, intelligence and communications products.

Customers include airlines worldwide, governments and defence agencies, including the US government, which holds licences in patents developed under its contracts. Boeing earns money by selling aircraft and defence hardware, and through services such as spare parts, maintenance, upgrades and conversions, pilot and maintenance training, logistics, and digital analytics.

The business is organised into three segments: Commercial Airplanes, Defense, Space & Security, and Global Services, selling across global markets. As of 31 December 2025 the workforce was roughly 182,000, with 14% based outside the United States and about 72,000 belonging to unions under agreements with nine US unions and eighteen international bodies.

Based on Boeing's 10-K filed January 30, 2026.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$120

Valuation models combined (3)

Base case. Range ~$83–$180. Weighted average of 3 models (growth cash-flow model, forward price-to-earnings vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Boeing valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Boeing files

10-Q filed October 27: Boeing

Model value +2.4%

Revenue for the twelve months to September 2026 was $94.9bn, up 17.5% on a year earlier, slower than the 24.8% growth a quarter earlier. Free-cash-flow margin rose to 0.0% from -7.9% a year earlier. Operating margin widened to 10.3% from -10.2%. The diluted share count is up 4.7% on a year earlier, which dilutes existing holders. Its fundamentals grade moves from D to C. Our model value rises from $138 to $142 a share, against a share price of $172.

Source: 10-Q filed October 27, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 28: Boeing

Revenue for the twelve months to June 2026 reached $94.9bn, up 17.5% on a year earlier. That pace has cooled, having run at 24.8% a quarter earlier. Profitability tells a clearer story of recovery. The operating margin widened to 10.3% from -10.2%, while the free-cash-flow margin climbed to 0.0% from -7.9%. Offsetting this, the diluted share count rose 4.7% over the year, diluting existing holders. Our model value moves up from $66.03 to $138 a share. The shares currently trade at $185, so the gap between our estimate and the market price remains wide.

10-Q on SEC EDGAR

Where Boeing stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $94.0bn, up 24.8% on a year earlier, slower than 32.7% a quarter earlier. That growth ranks 2 of 12 among the aerospace & defense companies we cover. Free-cash-flow margin rose to -0.2% from -11.3% a year earlier. Operating margin widened to 4.9% from -12.3%. The diluted share count is up 8.7% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 5 financial-health checks. Our revenue-to-maturity cash-flow model value is $317 a share, against a share price of $191.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 26, 2027 (estimated)

Boeing's trailing-twelve-month revenue grew 17.5% year on year, with a free-cash-flow margin of 0.0%. Where it stands out: days sales outstanding of 16 days ranks 2 of 45 aerospace & defense companies we cover. Where it lags: gross margin of 9.4% ranks 43 of 46 aerospace & defense companies we cover.

Current signal Revenue growth decelerating: TTM revenue growth slowed to 17.5% (-7.3pp vs the prior quarter), the 3rd consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 17.5% over the last 12 months, against a median of 15.5% for aerospace & defense companies we cover.
  • Margins widening. Operating margin is up 20.5 points on a year ago.

Things to watch

  • Growth slowing. The growth rate is 7.3 points lower than a quarter earlier.
  • Share dilution. Diluted shares rose 4.7% in a year.
  • Weak cash conversion. Free cash flow was 0% of net income over the last 12 months.
  • Below peers: gross margin. Gross margin of 9.4% ranks 43 of 46 aerospace & defense companies we cover (median 28.3%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 14.3% over 90 days.

Latest results: FY2026 Q3

Filed October 27, 2026
Earnings per share
-$0.34 against an average estimate of -$0.20: missed by 69.2%
Revenue
$24.19bn, up 3.9% on a year earlier
Share reaction
-11.2% in the first session after the results on October 27, 2026, against +0.9% for the S&P 500
Next report
January 26, 2027; average EPS estimate -$0.59

Boeing's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.2%
  • 1 week-6.9%
  • 1 month-9.4%
  • This year-19.2%
  • 1 year-12.7%
  • 5 years-17.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$94.9B
Operating margin
10.3%
Net margin
8.1%
EPS (TTM, diluted)
$9.72

Growth

Revenue growth
+17.5%
Change in growth rate
−7.3 pts
Share count change
+4.7%

Cash

Free cash flow (TTM)
$16M
FCF margin
0.0%
Stock pay % of revenue
0.5%

Earnings

Last results
October 27, 2026
Next results (est.)
January 26, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement

    Boeing forecasts global freighter fleet to pass 4,000 by 2045

    Boeing said air cargo traffic will double over the next 20 years, pushing the global fleet to 4,010 airplanes by 2045. The company projected that operators will need 2,930 new and converted freighters to support this growth. Boeing released the forecast at the Air Cargo Forum in Miami on October 28, 2026.

    Company releaseRead source ↗
  3. Results

    Boeing posts Q3 loss, backlog hits record $745bn

    Boeing reported a third-quarter net loss of $116 million and revenue of $24,188 million. The company said total backlog reached a record $745 billion, including over 6,300 commercial airplanes. Boeing also noted that the 737-7 and 737-10 achieved type certification and that it was selected to build the Navy's F/A-XX fighter.

    Company releaseRead source ↗SEC filing ↗
  4. Our research
  5. Our research
  6. Announcement
  7. Announcement

    Boeing launches Dataliner, an AI platform for airline fleet data

    Boeing said it introduced Dataliner, a new AI-powered platform designed to help airlines manage fleet-wide data. The system was built with Microsoft and allows customers to keep data in their own environments. Boeing stated the tool supports maintenance decisions and integrates with its existing digital services.

    Company releaseRead source ↗
  8. Announcement
  9. Partnership

    Boeing wins $14.7bn deal to triple PAC-3 seeker output

    Boeing said it received an undefinitized contract action worth approximately $14.7 billion from Lockheed Martin. The seven-year agreement allows the company to triple production of PAC-3 MSE seekers. Boeing noted that hiring began earlier this year, with hundreds of jobs expected in the Huntsville, Alabama, area.

    Company releaseRead source ↗
  10. Product
  11. Announcement
  12. Announcement
  13. Product
  14. Agreement
  15. Leadership
  16. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Boeing valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Boeing as an operating company, with every model that fits that kind of business. Cost of equity 10.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.29 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$100 ~$59–$130 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$83 ~$69–$110 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: return on equity above 40%: buybacks or intangibles make book value too small an anchor
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$0.1 ~$240–$770 Left out: out of range vs price (0.00x)
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$180 ~$130–$220 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$120 ~$83–$180 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Boeing with Aerospace & Defense in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$129.67$144.34$281.05$313.37$323.83$214.06$201.32$190.49$260.66$177.00$217.12$175.40
Market value$90.1bn$92.8bn$171.4bn$183.5bn$183.1bn$121.7bn$118.3bn$113.3bn$157.9bn$114.5bn$165.5bn$138.2bn
+ Net debt (− = net cash)−$1.3bn$1.2bn$2.3bn$6.2bn$17.8bn$55.8bn$50.0bn$42.4bn$39.6bn$40.1bn$43.2bn$36.4bn
Enterprise value$88.8bn$93.9bn$173.7bn$189.7bn$200.9bn$177.5bn$168.3bn$155.7bn$197.5bn$154.6bn$208.7bn$174.6bn
Multiples
Price / sales 0.9x1.0x1.8x1.8x2.4x2.1x1.9x1.7x2.0x1.7x1.9x1.5x
Price / earnings 17.4x18.4x20.3x17.5x——————74.1x18.0x
Price / free cash flow 13.0x11.8x14.8x13.5x———49.5x35.6x——n/m
EV / EBITDA 9.6x11.2x14.0x13.5xn/m———181.5x—33.5x14.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

28 /100

Weak moat

How hard Boeing's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -2.4% of total assets over 10 years.

  • Pricing power 3 / 20

    Gross margin has been a median 6.1%, moving by 7.5 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -5.5%; its worst year was -11.9%.

  • Cash conversion 5 / 20

    Free cash flow was positive in 5 of 10 years, at a median -0.3% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 34.6% over five years; stock-based pay has been a median 0.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 26, 2027, before the open. Analysts expect revenue of $25.9bn and EPS of −$0.59 (range −$0.73 to −$0.35) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$1.48 −224% $97.1bn +9%
Next $3.56 +341% $110.9bn +14%

Next year's EPS estimate has moved −14.3% in 90 days, across 17 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +41.3% on 90 days ago. In the last 30 days, 2 analysts raised Boeing's forecast and 5 cut it.

Consensus EPS forecast Boeing, last 90 days
−$2.00 $0.00 $2.00 $4.00 $6.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$1.04 Current fiscal year, 60 days ago: −$1.08 Current fiscal year, 30 days ago: −$1.08 Current fiscal year, 7 days ago: −$1.10 Current fiscal year, Now: −$1.48 −$1.48 Next fiscal year, 90 days ago: $4.15 Next fiscal year, 60 days ago: $4.12 Next fiscal year, 30 days ago: $4.19 Next fiscal year, 7 days ago: $3.76 Next fiscal year, Now: $3.56 $3.56

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$1.04$4.15
60 days ago −$1.08$4.12
30 days ago −$1.08$4.19
7 days ago −$1.10$3.76
Now −$1.48$3.56

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$0.20 −$0.34 −69.2%
Jun 2026 −$0.31 −$0.76 −141.5%
Mar 2026 −$0.67 −$0.20 +70.3%
Dec 2025 −$0.41 $9.92 +2525.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 27, 2026

No numeric guidance in Boeing's latest earnings release (filed October 27, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

28 analysts, Oct 2026
Buy2589%
Hold311%
Sell00%

Monthly trend

  1. Oct 2026619328
  2. Sep 2026618428
  3. Aug 2026518528
  4. Jul 2026417628

Counts of recommendations published by analysts covering Boeing, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.0%
of tradable shares
Days to cover
0.02
at average volume
Short interest, 1 month
−99%
to October 15, 2026
Held by institutions
77%
of shares
Held by insiders
0.1%
of shares
Employees
182,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −12.7%

$201.02 on October 31, 2025 to $175.40

ThenNowEffect
Revenue (last 12 months) $75.3bn $94.0bn +24.8%
P/S multiple 1.9x 1.5x −24.0%
Share count 717m 779m −8.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −10.1%

$195.05 on November 3, 2023 to $175.40

ThenNowEffect
Revenue (last 12 months) $73.6bn $94.0bn +27.7%
P/S multiple 1.6x 1.5x −8.5%
Share count 600m 779m −23.0%

Biggest factor: share count. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
BA−6%−5%+37%−32%+23%−19%
Industry peers (median)−4%−11%+13%+22%+16%−11%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
BA42%58%50%42%50%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
BA−30%−49%−26%−47%−27%−34%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 78% from March 1, 2019 to March 20, 2020. Getting back needed a 353% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$167.14 – $252.15
From 52-week high
−30.4%
vs 50-day average
−10.2%
vs 200-day average
−19.0%
Volatility (1 year)
35%
Beta vs S&P 500
1.11

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±4.7%
After a week
6 up, 5 down
typical move ±6.7%
After a month
5 up, 6 down
typical move ±6.5%
Results releasedNext dayS&P 500 next day5 days21 days
October 27, 2026 −11.2% +0.9% — —
July 28, 2026 +1.2% −1.3% +12.1% +0.3%
April 22, 2026 +6.8% +0.6% +2.3% +0.2%
January 27, 2026 −2.8% +0.4% −6.2% −7.7%
October 29, 2025 −10.4% −1.1% −11.5% −15.4%
July 29, 2025 −4.5% −0.4% −4.9% −0.3%
April 23, 2025 +8.5% +3.7% +12.7% +25.2%
January 28, 2025 −0.9% +0.4% +0.6% −0.8%
October 23, 2024 −2.9% −0.7% −3.5% −10.3%
October 11, 2024 +1.6% +1.4% +5.7% +1.6%
July 31, 2024 −4.6% +0.2% −12.6% −7.8%
April 24, 2024 −1.4% −0.4% +1.3% +1.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Boeing in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Boeing
$60B $70B $80B $90B $100B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $77.8B Revenue (TTM), FY24 Q1: $76.4B Revenue (TTM), FY24 Q2: $73.6B Revenue (TTM), FY24 Q3: $73.3B Revenue (TTM), FY24 Q4: $66.5B Revenue (TTM), FY25 Q1: $69.4B Revenue (TTM), FY25 Q2: $75.3B Revenue (TTM), FY25 Q3: $80.8B Revenue (TTM), FY25 Q4: $89.5B Revenue (TTM), FY26 Q1: $92.2B Revenue (TTM), FY26 Q2: $94B Revenue (TTM), FY26 Q3: $94.9B $94.9B

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $77.8B
FY24 Q1 $76.4B
FY24 Q2 $73.6B
FY24 Q3 $73.3B
FY24 Q4 $66.5B
FY25 Q1 $69.4B
FY25 Q2 $75.3B
FY25 Q3 $80.8B
FY25 Q4 $89.5B
FY26 Q1 $92.2B
FY26 Q2 $94B
FY26 Q3 $94.9B
Revenue growth, TTM YoY Boeing
-20% 0% 20% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 16.8% Revenue growth, TTM YoY, FY24 Q1: 8.4% Revenue growth, TTM YoY, FY24 Q2: -0.1% Revenue growth, TTM YoY, FY24 Q3: -3.3% Revenue growth, TTM YoY, FY24 Q4: -14.5% Revenue growth, TTM YoY, FY25 Q1: -9.2% Revenue growth, TTM YoY, FY25 Q2: 2.4% Revenue growth, TTM YoY, FY25 Q3: 10.2% Revenue growth, TTM YoY, FY25 Q4: 34.5% Revenue growth, TTM YoY, FY26 Q1: 32.7% Revenue growth, TTM YoY, FY26 Q2: 24.8% Revenue growth, TTM YoY, FY26 Q3: 17.5% 17.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 16.8%
FY24 Q1 8.4%
FY24 Q2 -0.1%
FY24 Q3 -3.3%
FY24 Q4 -14.5%
FY25 Q1 -9.2%
FY25 Q2 2.4%
FY25 Q3 10.2%
FY25 Q4 34.5%
FY26 Q1 32.7%
FY26 Q2 24.8%
FY26 Q3 17.5%
Operating margin (TTM) Boeing
-20% -10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -1.0% Operating margin (TTM), FY24 Q1: -0.9% Operating margin (TTM), FY24 Q2: -2.3% Operating margin (TTM), FY24 Q3: -9.1% Operating margin (TTM), FY24 Q4: -16.1% Operating margin (TTM), FY25 Q1: -14.6% Operating margin (TTM), FY25 Q2: -12.3% Operating margin (TTM), FY25 Q3: -10.2% Operating margin (TTM), FY25 Q4: 4.8% Operating margin (TTM), FY26 Q1: 4.6% Operating margin (TTM), FY26 Q2: 4.9% Operating margin (TTM), FY26 Q3: 10.3% 10.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -1.0%
FY24 Q1 -0.9%
FY24 Q2 -2.3%
FY24 Q3 -9.1%
FY24 Q4 -16.1%
FY25 Q1 -14.6%
FY25 Q2 -12.3%
FY25 Q3 -10.2%
FY25 Q4 4.8%
FY26 Q1 4.6%
FY26 Q2 4.9%
FY26 Q3 10.3%
FCF margin (TTM) Boeing
-30% -20% -10% 0% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 5.7% FCF margin (TTM), FY24 Q1: 1.7% FCF margin (TTM), FY24 Q2: -7.6% FCF margin (TTM), FY24 Q3: -9.9% FCF margin (TTM), FY24 Q4: -21.5% FCF margin (TTM), FY25 Q1: -18.2% FCF margin (TTM), FY25 Q2: -11.3% FCF margin (TTM), FY25 Q3: -7.9% FCF margin (TTM), FY25 Q4: -2.1% FCF margin (TTM), FY26 Q1: -1.1% FCF margin (TTM), FY26 Q2: -0.2% FCF margin (TTM), FY26 Q3: 0.0% 0.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 5.7%
FY24 Q1 1.7%
FY24 Q2 -7.6%
FY24 Q3 -9.9%
FY24 Q4 -21.5%
FY25 Q1 -18.2%
FY25 Q2 -11.3%
FY25 Q3 -7.9%
FY25 Q4 -2.1%
FY26 Q1 -1.1%
FY26 Q2 -0.2%
FY26 Q3 0.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 68.3 64.3 68.7 81.7 86.6 90.8 96.1 93.5 94.0 101.1 76.6 58.2 62.3 66.6 77.8 66.5 89.5 94.9
Gross profit 11.7 12.5 12.8 13.0 13.4 14.0 14.0 14.5 17.4 19.6 4.5 −5.7 3.0 3.5 7.7 −2.0 4.3 8.9
EBITDA 3.2 6.7 7.5 8.1 8.4 9.4 9.3 8.4 12.4 14.1 0.3 −10.5 −0.7 −1.5 1.1 −8.9 6.2 12.0
Operating income 2.1 5.0 5.8 6.3 6.6 7.5 7.4 6.5 10.3 12.0 −2.0 −12.8 −2.9 −3.5 −0.8 −10.7 4.3 9.7
Net income 1.3 3.3 4.0 3.9 4.6 5.4 5.2 5.0 8.5 10.5 −0.6 −11.9 −4.2 −4.9 −2.2 −11.8 2.2 7.7
Diluted EPS $1.84 $4.45 $5.34 $5.11 $5.96 $7.38 $7.44 $7.83 $13.85 $17.85 −$1.12 −$20.88 −$7.15 −$8.30 −$3.67 −$18.36 $2.48 $9.72
Growth (year on year)
Revenue +12.1% −5.8% +6.9% +18.9% +6.0% +4.8% +5.9% −2.7% +0.5% +7.6% −24.3% −24.0% +7.1% +6.9% +16.8% −14.5% +34.5% +17.5%
EBITDA −36.3% +112.4% +11.6% +8.0% +3.8% +11.6% −1.1% −9.3% +47.2% +13.8% −97.9% — — — — — — —
Operating income −46.9% +137.2% +17.1% +8.0% +4.3% +13.9% −0.4% −12.3% +58.5% +15.9% −116.5% — — — — — — —
Net income −50.9% — +21.5% −2.9% +17.6% +18.8% −5.0% −2.7% +68.0% +23.7% −106.1% — — — — — — —
Diluted EPS −49.9% — +20.0% −4.3% +16.6% +23.8% +0.8% +5.2% +76.9% +28.9% −106.3% — — — — — — —
Margins
Gross margin 17.2% 19.4% 18.7% 16.0% 15.4% 15.4% 14.6% 15.5% 18.5% 19.4% 5.8% −9.8% 4.9% 5.3% 9.9% −3.0% 4.8% 9.4%
EBITDA margin 4.6% 10.4% 10.9% 9.9% 9.7% 10.3% 9.7% 9.0% 13.2% 13.9% 0.4% −18.1% −1.2% −2.3% 1.4% −13.3% 7.0% 12.7%
Operating margin 3.1% 7.7% 8.5% 7.7% 7.6% 8.2% 7.7% 7.0% 11.0% 11.9% −2.6% −22.0% −4.6% −5.3% −1.0% −16.1% 4.8% 10.3%
Net margin 1.9% 5.1% 5.8% 4.8% 5.3% 6.0% 5.4% 5.4% 9.0% 10.3% −0.8% −20.4% −6.7% −7.4% −2.9% −17.8% 2.5% 8.1%
Free-cash-flow margin 6.5% 2.8% 3.4% 7.1% 7.0% 7.3% 7.2% 8.4% 12.3% 13.4% −5.6% −33.9% −7.1% 3.4% 5.7% −21.5% −2.1% 0.0%
Cash flow
Cash from operations 5.6 3.0 4.0 7.5 8.2 8.9 9.4 10.5 13.3 15.3 −2.4 −18.4 −3.4 3.5 6.0 −12.1 1.1 4.0
Capital spending 1.2 1.1 1.7 1.7 2.1 2.2 2.5 2.6 1.7 1.7 1.8 1.3 1.0 1.2 1.5 2.2 2.9 4.0
Free cash flow 4.4 1.8 2.3 5.8 6.1 6.6 6.9 7.9 11.6 13.6 −4.3 −19.7 −4.4 2.3 4.4 −14.3 −1.9 0.0
Stock-based pay 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.8 0.7 0.7 0.4 0.4 0.4
Free cash flow after stock pay 4.2 1.6 2.1 5.6 5.9 6.4 6.7 7.7 11.4 13.4 −4.5 −20.0 −5.2 1.6 3.7 −14.7 −2.3 −0.4
Balance sheet
Cash 9.2 5.4 10.0 10.3 9.1 11.7 11.3 8.8 8.8 7.6 9.5 7.8 8.1 14.6 12.7 13.8 10.9 9.5
Total debt 12.9 12.4 12.4 10.4 9.6 9.1 10.0 10.0 11.1 13.8 27.3 63.6 58.1 57.0 52.3 53.9 54.1 45.9
Net debt (negative = net cash) 3.7 7.1 2.3 0.1 0.5 −2.7 −1.3 1.2 2.3 6.2 17.8 55.8 50.1 42.4 39.6 40.1 43.2 36.4
Diluted shares 713m 741m 751m 762m 768m 737m 695m 643m 610m 586m 565m 569m 588m 595m 606m 647m 762m 788m
Returned to shareholders
Dividends 1.2 1.3 1.2 1.3 1.5 2.1 2.5 2.8 3.4 3.9 4.6 1.2 — — — — 0.3 0.3
Buybacks 0.1 — — — 2.8 6.0 6.8 7.0 9.2 9.0 2.7 — — — — — — —
Total returned 1.3 1.3 1.2 1.3 4.3 8.1 9.2 9.8 12.7 12.9 7.3 1.2 — — — — 0.3 0.3

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 5 checks passed · September 30, 2026
What it owns · $170.7bn
Short-term assets $129.3bnLonger-term assets $41.5bn
What it owes, and who funded it · $170.7bn
Short-term liabilities $114.0bnLonger-term liabilities $50.2bnShareholders' equity $6.5bn
  • Short-term assets cover short-term liabilities $129.3bn of assets due within a year against $114.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $129.3bn short-term assets against $50.2bn of longer-dated liabilities.
  • More cash than debt $9.5bn of cash against $50.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 766% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $4.0bn of operating cash flow against $50.2bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Boeing's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$345M
Diluted share count
+4.7%
year over year
Total shareholder yield
0.3%
dividends 0.3% + buybacks 0.0% of market value
Dividend payout ratio
5%
of net income paid out
R&D spending
3.8%
of revenue
Days sales outstanding
16 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in aerospace & defense
Last 12 months unless stated BA RTX LMT GD GE NOC Median
Revenue, last 12 months $94.9bn $96.0bn $79.1bn $56.5bn $52.6bn $43.6bn $769m
Revenue growth, last 12 months 17.5% 11.6% 7.9% 9.7% 19.6% 6.5% 15.5%
Revenue growth, 3-year average 7.8% 12.7% 5.3% 10.9% 7.2% 4.1% 12.6%
Revenue growth, latest quarter 3.9% 11.1% 11.3% 12.9% 15.9% 6.7% 15.8%
Gross margin 9.4% 15.1% 11.7% 17.9% 37.2% — 27.8%
Operating margin 10.3% 11.8% 11.8% 10.4% 17.4% 10.6% 9.0%
Operating margin, 3-year average −3.0% 10.0% 10.7% 10.3% 21.3% 9.4% 6.0%
Net margin 8.1% 8.8% 8.2% 8.2% 17.3% 10.4% 5.5%
Cash from operations / revenue 4.2% 13.0% 12.8% 12.9% 18.0% 12.1% 5.5%
Free-cash-flow margin 0.0% 9.5% 10.6% 10.2% 15.3% 8.8% 3.4%
Free-cash-flow margin, 3-year average −5.9% 8.1% 8.7% 8.2% 14.9% 6.4% 3.0%
Stock pay / revenue 0.5% 0.7% 0.5% 0.4% — 0.3% 1.2%
Change in share count 4.7% 0.9% −1.5% 0.3% −2.2% −1.4% 3.9%

Median of all 57 companies we cover in aerospace & defense. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 aerospace & defense companies
Measure Company Peer median Rank
Revenue growth Growth 17.5% 15.5% 23 of 57
Change in growth rate Growth -7.3pp +2.2pp 49 of 57
Gross margin Profitability 9.4% 28.3% 43 of 46
Operating margin Profitability 10.3% 8.5% 23 of 51
Net margin Profitability 8.1% 5.5% 23 of 57
Free-cash-flow margin Cash generation 0.0% 3.4% 34 of 57
Stock pay as % of revenue Cash generation 0.5% 1.5% 12 of 53
Long-term debt as % of assets Balance sheet 26.7% 22.1% 31 of 47
Change in share count Balance sheet 4.7% 2.4% 30 of 51
Days sales outstanding Balance sheet 16 days 53 days 2 of 45

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $75.4B 84.2% ▲ 41.6%
Services $14.1B 15.8% ▲ 6.1%
Geography
Region Revenue YoY
United States $48.1B ▲ 32.9%
Outside the US $41.4B ▲ 34.4%
Asia $16.5B ▲ 37.3%
Europe $11.4B ▲ 30.7%
Middle East $7B ▲ 51.5%
Canada $1.8B ▲ 21.0%
Africa $1.6B ▲ 42.2%
Oceania $1.6B ▲ 1.4%
Latin America $1.5B ▲ 18.7%

These categories overlap or exclude eliminations, so shares aren't shown.

From Boeing's 10-K filed January 30, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$129B
Institutions reporting
2,615
Shares held vs prior quarter
▲ 2.2%
Positions opened / closed
219 / 119

Top buyers and sellers, Q2 2026: 1,282 institutions bought and 960 sold ; the biggest buyer was Capital Research Global Investors (+5.0M shares) and the biggest seller UBS Group AG (−2.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $13.2B 61.0M 10.2% ▲ 4.9%
FMR LLC $12.8B 59.0M 9.9% ▲ 3.6%
Vanguard Capital Management LLC $11.1B 51.5M 8.6% ▲ 0.9%
State Street Corp $8.2B 38.0M 6.4% ▲ 1.7%
Capital World Investors $6.6B 30.7M 5.1% ▲ 19.2%
Newport Trust Company, LLC $6.1B 28.3M 4.7% ▼ 1.4%
Geode Capital Management, LLC $3.9B 18.0M 3.0% ▲ 2.3%
Loomis Sayles & Co L P $3B 13.9M 2.3% ▼ 1.0%
Vanguard Portfolio Management LLC $2.9B 13.4M 2.2% ▲ 2.9%
Bank Of America Corp $2.4B 11.3M 1.9% ▼ 2.3%
Price T Rowe Associates Inc $2.4B 11.1M 1.9% ▼ 6.6%
Morgan Stanley $2.3B 10.8M 1.8% ▲ 2.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Boeing's complete shareholder register. Values are as reported by the filers ; 8 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $898,413 3 trades by 3 insiders, last 12 months Insider sales History → $5.3M 5 trades by 3 insiders · 0% under pre-set plans
Net ▼ $4.4M net selling
Insider Date Trade Shares Price Value
Tilden Bradley D Director May 20, 2026 Buy 1,370 $218.50 $299,345
Buckley Mortimer J Director March 3, 2026 Buy 2,230 $224.20 $499,966
Amuluru Uma M EVP and Chief HR Officer February 24, 2026 Sell 1,503 $233.78 $351,484
Schmidt Ann M SVP, Chief Com & Brand Officer February 17, 2026 Sell 6,281 $243.37 $1.5M
Mckenzie Howard E Chief Engineer & EVP, ET&T February 5, 2026 Sell 10,497 $233.99 $2.5M
Amuluru Uma M EVP and Chief HR Officer February 4, 2026 Sell 2,731 $236.00 $644,598
Deasy Dana S CIDO, SVP IDT&S November 24, 2025 Buy 554 $178.88 $99,102
Amuluru Uma M EVP and Chief HR Officer November 6, 2025 Sell 1,366 $197.66 $270,009

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 161 trades and filings

In the last 12 months, 6 members of Congress disclosed 5 purchases and 8 sales of Boeing shares.

  • Maria Elvira Salazar(R-FL 27):Sale (partial), $1,001 - $15,000, traded September 24, 2026, filed October 7, 2026
  • Kevin Hern(R-OK 1):Sale (full), $1,001 - $15,000, traded August 13, 2026, filed September 1, 2026
  • Kevin Hern(R-OK 1):Sale (full), $15,001 - $50,000, traded August 13, 2026, filed September 1, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 26, 2027 estimated from the company's past filing pattern, not announced

  • October 27, 2026
  • July 28, 2026
  • April 22, 2026
  • January 27, 2026
  • October 29, 2025
  • July 29, 2025

Recent SEC filings

Data status

When each part of this page on Boeing was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Boeing in brief

What does Boeing do?
Boeing is a US-listed company in the aerospace & defense industry. Its financial year ends in December.
What is Boeing's stock ticker?
Boeing trades under the ticker BA on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Boeing's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Boeing reported revenue of $94.9B, 17.5% higher than a year earlier, according to its SEC filings.
What is Boeing's free cash flow?
Boeing's free-cash-flow margin is 0.0% of revenue over the trailing twelve months, ranking 34 of the 57 aerospace & defense companies we cover.
Who are Boeing's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., FMR LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Boeing's market cap?
On November 2, 2026, Boeing's market capitalisation was about $138B, with a price-to-earnings ratio of 18.0 and net debt of $36.4B. Market figures come from third-party market data and may be delayed.
Does Boeing pay a dividend?
Yes: Boeing paid $345M in dividends over the trailing twelve months, a dividend yield of 0.25% and a payout ratio of 4.5%.
How much debt does Boeing have?
Boeing's debt-to-equity ratio is 766.4%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Boeing's competitors?
In our Aerospace & Defense peer group, the companies closest to Boeing are RTX Corporation, Lockheed Martin, General Dynamics, GE Aerospace and Northrop Grumman. The side-by-side comparison below sets their revenue, margins and growth against Boeing's.
Are insiders buying or selling Boeing stock?
Over the last 12 months, Boeing's directors and officers reported 3 open-market purchases and 5 sales on Form 4. The insider trading page charts every trade.
When is Boeing's next earnings date?
Around January 26, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Boeing announces its own schedule.