The Boeing Company (BA) 10-Year Financial Performance & Capital Metrics

BA • • Industrial / General

IndustrialsAerospace & DefenseAircraft ManufacturingLarge Commercial Aircraft OEMs

AboutThe Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. The Commercial Airplanes segment provides commercial jet aircraft for passenger and cargo requirements, as well as fleet support services. The Defense, Space & Security segment engages in the research, development, production, and modification of manned and unmanned military aircraft and weapons systems; strategic defense and intelligence systems, which include strategic missile and defense systems, command, control, communications, computers, intelligence, surveillance and reconnaissance, cyber and information solutions, and intelligence systems; and satellite systems, such as government and commercial satellites, and space exploration. The Global Services segment offers products and services, including supply chain and logistics management, engineering, maintenance and modifications, upgrades and conversions, spare parts, pilot and maintenance training systems and services, technical and maintenance documents, and data analytics and digital services to commercial and defense customers. The Boeing Capital segment offers financing services and manages financing exposure for a portfolio of equipment under operating leases, sales-type/finance leases, notes and other receivables, assets held for sale or re-lease, and investments. The company was incorporated in 1916 and is based in Chicago, Illinois.Show more

Revenue $66.52B -14.5%
EBITDA -$8.95B -954.3%
Net Income -$11.82B -431.8%
EPS (Diluted) -18.36 -400.3%
Gross Margin -2.94% -129.7%
EBITDA Margin -13.46% -1099.1%
Operating Margin -16.22% -1452.0%
Net Margin -17.77% -522.0%
ROE -
ROIC -27.36% -1010.4%
Debt/Equity -
Interest Coverage -3.96 -1097.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading near 52-week high

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-3.06%

5Y-2.77%

3Y2.22%

TTM10.19%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-23.51%

EPS CAGR

10Y-

5Y-

3Y-

TTM-5.99%

ROCE

10Y Avg4.15%

5Y Avg-8.5%

3Y Avg-10.06%

Latest-21.48%

Peer Comparison

Large Commercial Aircraft OEMs

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BAThe Boeing Company	194B	247.74	-13.49	-14.49%	-12.2%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	96.11B	94.57B	94B	101.13B	76.56B	58.16B	62.29B	66.61B	77.79B	66.52B
Revenue Growth %	0.06%	-0.02%	-0.01%	0.08%	-0.24%	-0.24%	0.07%	0.07%	0.17%	-0.14%
Cost of Goods Sold+	82.09B	80.79B	76.61B	81.49B	72.07B	57.15B	55.8B	63.14B	70.09B	68.48B
COGS % of Revenue	0.85%	0.85%	0.81%	0.81%	0.94%	0.98%	0.9%	0.95%	0.9%	1.03%
Gross Profit+	14.03B	13.78B	17.39B	19.64B	4.49B	1.01B	6.48B	3.46B	7.71B	-1.96B
Gross Margin %	0.15%	0.15%	0.19%	0.19%	0.06%	0.02%	0.1%	0.05%	0.1%	-0.03%
Gross Profit Growth %	0%	-0.02%	0.26%	0.13%	-0.77%	-0.77%	5.4%	-0.47%	1.23%	-1.25%
Operating Expenses+	6.86B	8.24B	7.27B	7.84B	6.43B	7.29B	6.42B	7.02B	8.52B	8.83B
OpEx % of Revenue	0.07%	0.09%	0.08%	0.08%	0.08%	0.13%	0.1%	0.11%	0.11%	0.13%
Selling, General & Admin	3.52B	3.62B	4.09B	4.57B	3.21B	4.81B	4.17B	4.17B	5.14B	5.02B
SG&A % of Revenue	0.04%	0.04%	0.04%	0.05%	0.04%	0.08%	0.07%	0.06%	0.07%	0.08%
Research & Development	3.33B	4.63B	3.18B	3.27B	3.22B	2.48B	2.25B	2.85B	3.38B	3.81B
R&D % of Revenue	0.03%	0.05%	0.03%	0.03%	0.04%	0.04%	0.04%	0.04%	0.04%	0.06%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	7.17B	5.54B	10.12B	11.8B	-1.94B	-6.27B	63M	-3.55B	-813M	-10.79B
Operating Margin %	0.07%	0.06%	0.11%	0.12%	-0.03%	-0.11%	0%	-0.05%	-0.01%	-0.16%
Operating Income Growth %	-0%	-0.23%	0.83%	0.17%	-1.16%	-2.24%	1.01%	-57.41%	0.77%	-12.27%
EBITDA+	9B	7.45B	12.19B	13.91B	335M	-4.03B	2.21B	-1.57B	1.05B	-8.95B
EBITDA Margin %	0.09%	0.08%	0.13%	0.14%	0%	-0.07%	0.04%	-0.02%	0.01%	-0.13%
EBITDA Growth %	-0.01%	-0.17%	0.64%	0.14%	-0.98%	-13.02%	1.55%	-1.71%	1.67%	-9.54%
D&A (Non-Cash Add-back)	1.83B	1.91B	2.07B	2.11B	2.27B	2.25B	2.14B	1.98B	1.86B	1.84B
EBIT	7.43B	5.87B	10.47B	12.08B	-1.54B	-12.32B	-2.35B	-2.49B	454M	-9.48B
Net Interest Income+	-275M	-306M	-360M	-475M	-722M	-2.16B	-2.68B	-2.53B	-2.46B	-2.73B
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	275M	306M	360M	475M	722M	2.16B	2.68B	2.53B	2.46B	2.73B
Other Income/Expense	-15M	30M	-12M	-197M	-323M	-8.2B	-5.1B	-1.47B	-1.19B	-1.42B
Pretax Income+	7.16B	5.57B	10.05B	11.6B	-2.26B	-14.48B	-5.03B	-5.02B	-2B	-12.21B
Pretax Margin %	0.07%	0.06%	0.11%	0.11%	-0.03%	-0.25%	-0.08%	-0.08%	-0.03%	-0.18%
Income Tax+	1.98B	673M	1.85B	1.14B	-1.62B	-2.54B	-743M	31M	237M	-381M
Effective Tax Rate %	0.72%	0.88%	0.84%	0.9%	0.28%	0.82%	0.83%	0.98%	1.11%	0.97%
Net Income+	5.17B	4.89B	8.45B	10.45B	-636M	-11.87B	-4.2B	-4.93B	-2.22B	-11.82B
Net Margin %	0.05%	0.05%	0.09%	0.1%	-0.01%	-0.2%	-0.07%	-0.07%	-0.03%	-0.18%
Net Income Growth %	-0.05%	-0.05%	0.73%	0.24%	-1.06%	-17.67%	0.65%	-0.17%	0.55%	-4.32%
Net Income (Continuing)	5.18B	4.89B	8.46B	10.46B	-636M	-11.94B	-4.29B	-5.05B	-2.24B	-11.83B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	62M	60M	57M	71M	317M	241M	153M	35M	5M	-6M
EPS (Diluted)+	7.44	7.61	13.43	17.84	-1.12	-20.99	-7.15	-8.29	-3.67	-18.36
EPS Growth %	0.01%	0.02%	0.76%	0.33%	-1.06%	-17.74%	0.66%	-0.16%	0.56%	-4%
EPS (Basic)	7.52	7.70	13.60	18.05	-1.12	-21.00	-7.15	-8.30	-3.67	-18.36
Diluted Shares Outstanding	696.1M	643.8M	610.7M	586.2M	567.86M	569M	588M	595.2M	606.1M	646.9M
Basic Shares Outstanding	688.3M	635.71M	602.72M	579.5M	567.86M	568.63M	587.69M	594.58M	605.45M	646.9M
Dividend Payout Ratio	0.48%	0.56%	0.4%	0.38%	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	68.23B	62.49B	65.16B	87.83B	102.23B	121.64B	108.67B	109.52B	109.28B	128B
Cash & Short-Term Investments	12.05B	10.03B	9.99B	8.56B	10.03B	25.59B	16.24B	17.22B	15.96B	26.28B
Cash Only	11.3B	8.8B	8.81B	7.64B	9.48B	7.75B	8.05B	14.61B	12.69B	13.8B
Short-Term Investments	750M	1.23B	1.18B	927M	545M	17.84B	8.19B	2.61B	3.27B	12.48B
Accounts Receivable	8.93B	9.26B	11.4B	14.36B	12.47B	10.05B	11.38B	11.3B	11.06B	11.2B
Days Sales Outstanding	33.89	35.74	44.25	51.84	59.46	63.08	66.68	61.95	51.92	61.46
Inventory	47.26B	43.2B	44.34B	62.57B	76.62B	81.72B	78.82B	78.15B	79.74B	87.55B
Days Inventory Outstanding	210.13	195.17	211.27	280.24	388.06	521.91	515.56	451.75	415.28	466.67
Other Current Assets	0	0	2.73B	2.33B	3.11B	4.29B	2.22B	2.85B	2.5B	2.96B
Total Non-Current Assets+	26.17B	27.51B	27.17B	29.53B	31.4B	30.49B	29.89B	27.58B	27.74B	28.36B
Property, Plant & Equipment	12.08B	12.81B	12.67B	12.64B	12.5B	11.82B	10.92B	10.55B	11.52B	11.73B
Fixed Asset Turnover	7.96x	7.38x	7.42x	8.00x	6.12x	4.92x	5.70x	6.31x	6.75x	5.67x
Goodwill	5.13B	5.32B	5.56B	7.84B	8.06B	8.08B	8.07B	8.06B	8.09B	8.08B
Intangible Assets	2.66B	2.54B	2.57B	3.43B	3.34B	2.84B	2.56B	2.31B	2.09B	1.96B
Long-Term Investments	1.28B	1.32B	1.26B	1.09B	1.09B	1.02B	975M	983M	1.03B	999M
Other Non-Current Assets	4.77B	5.19B	4.77B	4.24B	5.72B	6.65B	7.29B	5.61B	4.93B	5.41B
Total Assets+	94.41B	90B	92.33B	117.36B	133.63B	152.14B	138.55B	137.1B	137.01B	156.36B
Asset Turnover	1.02x	1.05x	1.02x	0.86x	0.57x	0.38x	0.45x	0.49x	0.57x	0.43x
Asset Growth %	-0.05%	-0.05%	0.03%	0.27%	0.14%	0.14%	-0.09%	-0.01%	-0%	0.14%
Total Current Liabilities+	50.41B	50.13B	56.27B	81.59B	97.31B	87.28B	81.99B	90.05B	95.83B	97.08B
Accounts Payable	10.8B	11.19B	12.2B	12.92B	15.55B	12.93B	9.26B	10.2B	11.96B	11.36B
Days Payables Outstanding	48.02	50.56	58.13	57.85	78.77	82.57	60.57	58.96	62.31	60.57
Short-Term Debt	1.23B	384M	383M	3.19B	7.27B	1.63B	1.24B	5.13B	5.13B	1.19B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	8.13B	8.82B	52.16B	7.42B	7.26B	9.03B	10.49B	13.18B	14.34B	16.33B
Current Ratio	1.35x	1.25x	1.16x	1.08x	1.05x	1.39x	1.33x	1.22x	1.14x	1.32x
Quick Ratio	0.42x	0.38x	0.37x	0.31x	0.26x	0.46x	0.36x	0.35x	0.31x	0.42x
Cash Conversion Cycle	196	180.35	197.38	274.24	368.75	502.41	521.66	454.74	404.89	467.56
Total Non-Current Liabilities+	37.6B	38.99B	35.65B	35.36B	44.61B	82.93B	71.41B	62.9B	58.41B	63.2B
Long-Term Debt	8.63B	9.49B	9.7B	10.56B	19.8B	61.75B	56.69B	51.67B	46.93B	52.43B
Capital Lease Obligations	97M	81M	86M	99M	158M	138M	119M	141M	176M	153M
Deferred Tax Liabilities	2.39B	1.34B	1.84B	1.74B	413M	1.01B	218M	230M	229M	122M
Other Non-Current Liabilities	26.38B	28.08B	24.03B	22.91B	24.24B	20.03B	14.38B	10.86B	11.08B	10.49B
Total Liabilities	88.01B	89.12B	91.92B	116.95B	141.93B	170.21B	153.4B	152.95B	154.24B	160.28B
Total Debt+	9.96B	10.01B	11.12B	13.85B	27.55B	63.85B	58.37B	57.28B	52.6B	54.19B
Net Debt	-1.44B	1.21B	2.22B	6.11B	18.07B	56.1B	50.32B	42.66B	39.91B	40.39B
Debt / Equity	1.56x	11.41x	26.98x	33.77x	-	-	-	-	-	-
Debt / EBITDA	1.11x	1.34x	0.91x	1.00x	82.25x	-	26.45x	-	50.19x	-
Net Debt / EBITDA	-0.16x	0.16x	0.18x	0.44x	53.94x	-	22.80x	-	38.08x	-
Interest Coverage	26.07x	18.10x	28.11x	24.84x	-2.68x	-2.91x	0.02x	-1.40x	-0.33x	-3.96x
Total Equity+	6.4B	877M	412M	410M	-8.3B	-18.07B	-14.85B	-15.85B	-17.23B	-3.91B
Equity Growth %	-0.27%	-0.86%	-0.53%	-0%	-21.24%	-1.18%	0.18%	-0.07%	-0.09%	0.77%
Book Value per Share	9.19	1.36	0.67	0.70	-14.62	-31.77	-25.25	-26.63	-28.42	-6.05
Total Shareholders' Equity	6.33B	817M	355M	339M	-8.62B	-18.32B	-15B	-15.88B	-17.23B	-3.91B
Common Stock	5.06B	5.06B	5.06B	5.06B	5.06B	5.06B	5.06B	5.06B	5.06B	5.06B
Retained Earnings	38.76B	40.71B	45.32B	55.94B	50.64B	38.61B	34.41B	29.47B	27.25B	15.36B
Treasury Stock	-29.57B	-36.1B	-43.45B	-52.35B	-54.91B	-52.64B	-51.86B	-50.81B	-49.55B	-32.39B
Accumulated OCI	-12.75B	-13.62B	-13.38B	-15.08B	-16.15B	-17.13B	-11.66B	-9.55B	-10.3B	-10.91B
Minority Interest	62M	60M	57M	71M	317M	241M	153M	35M	5M	-6M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	9.36B	10.5B	13.34B	15.32B	-2.45B	-18.41B	-3.42B	3.51B	5.96B	-12.08B
Operating CF Margin %	0.1%	0.11%	0.14%	0.15%	-0.03%	-0.32%	-0.05%	0.05%	0.08%	-0.18%
Operating CF Growth %	0.06%	0.12%	0.27%	0.15%	-1.16%	-6.53%	0.81%	2.03%	0.7%	-3.03%
Net Income	5.18B	4.89B	8.2B	10.46B	-636M	-11.94B	-4.16B	-4.93B	-2.24B	-11.83B
Depreciation & Amortization	1.83B	1.91B	2.07B	2.11B	2.27B	2.25B	2.14B	1.98B	1.86B	1.84B
Stock-Based Compensation	189M	190M	202M	202M	217M	445M	2.07B	1.94B	690M	407M
Deferred Taxes	11M	97M	92M	18M	-248M	6.7B	3.28B	0	0	0
Other Non-Cash Items	359M	362M	289M	244M	579M	1.41B	227M	388M	1.56B	6.27B
Working Capital Changes	1.79B	3.04B	2.5B	2.28B	-4.63B	-17.34B	-6.98B	4.14B	4.09B	-8.77B
Change in Receivables	-1.07B	112M	-1.82B	-795M	603M	909M	-713M	142M	764M	415M
Change in Inventory	-1.11B	3.75B	-1.08B	568M	-12.39B	-11B	-1.13B	420M	1.68B	-12.35B
Change in Payables	-238M	622M	130M	2M	1.6B	-5.36B	-3.78B	838M	1.67B	-793M
Cash from Investing+	-1.85B	-3.38B	-2.06B	-4.62B	-1.53B	-18.37B	9.32B	4.37B	-2.44B	-11.97B
Capital Expenditures	-2.45B	-2.61B	-1.87B	-1.79B	-1.96B	-1.3B	-980M	-1.22B	-1.53B	-2.23B
CapEx % of Revenue	0.03%	0.03%	0.02%	0.02%	0.03%	0.02%	0.02%	0.02%	0.02%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	81M	40M	94M	109M	321M	-18M	534M	30M	-131M	-704M
Cash from Financing+	-7.92B	-9.59B	-11.35B	-11.72B	5.74B	34.95B	-5.6B	-1.27B	-5.49B	25.21B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-2.49B	-2.76B	-3.42B	-3.95B	-4.63B	-1.16B	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	460M	204M	179M	-222M	-256M	-173M	-66M	-40M	-391M	-136M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	6.91B	7.89B	11.47B	13.53B	-4.41B	-19.71B	-4.4B	2.29B	4.43B	-14.4B
FCF Margin %	0.07%	0.08%	0.12%	0.13%	-0.06%	-0.34%	-0.07%	0.03%	0.06%	-0.22%
FCF Growth %	0.04%	0.14%	0.45%	0.18%	-1.33%	-3.47%	0.78%	1.52%	0.94%	-4.25%
FCF per Share	9.93	12.25	18.79	23.08	-7.76	-34.64	-7.48	3.85	7.31	-22.26
FCF Conversion (FCF/Net Income)	1.81x	2.15x	1.58x	1.47x	3.85x	1.55x	0.81x	-0.71x	-2.68x	1.02x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	68.11%	134.51%	1311.4%	2543.31%	-	-	-	-	-	-
Return on Invested Capital (ROIC)	96.15%	116.28%	316.15%	189.6%	-17.72%	-19.69%	0.13%	-8.56%	-2.46%	-27.36%
Gross Margin	14.59%	14.57%	18.5%	19.42%	5.87%	1.74%	10.41%	5.2%	9.91%	-2.94%
Net Margin	5.38%	5.17%	8.99%	10.34%	-0.83%	-20.41%	-6.75%	-7.41%	-2.86%	-17.77%
Debt / Equity	1.56x	11.41x	26.98x	33.77x	-	-	-	-	-	-
Interest Coverage	26.07x	18.10x	28.11x	24.84x	-2.68x	-2.91x	0.02x	-1.40x	-0.33x	-3.96x
FCF Conversion	1.81x	2.15x	1.58x	1.47x	3.85x	1.55x	0.81x	-0.71x	-2.68x	1.02x
Revenue Growth	5.9%	-1.61%	-0.6%	7.58%	-24.29%	-24.03%	7.09%	6.94%	16.8%	-14.49%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Boeing Defense Space Security	30.39B	29.5B	21.06B	23.2B	26.23B	26.26B	26.54B	23.16B	24.93B	23.92B
Boeing Defense Space Security Growth	-	-2.93%	-28.62%	10.15%	13.07%	0.11%	1.08%	-12.73%	7.65%	-4.07%
Commercial Airplanes	66.05B	65.07B	56.73B	60.72B	32.26B	16.16B	19.49B	25.87B	33.9B	22.86B
Commercial Airplanes Growth	-	-1.48%	-12.82%	7.03%	-46.87%	-49.89%	20.61%	32.70%	31.06%	-32.57%
Global Services	-	-	14.64B	17.02B	18.47B	15.54B	16.33B	17.61B	19.13B	19.95B
Global Services Growth	-	-	-	16.25%	8.52%	-15.84%	5.05%	7.86%	8.61%	4.32%
Boeing Capital Corporation	413M	298M	307M	274M	244M	261M	272M	199M	-	-
Boeing Capital Corporation Growth	-	-27.85%	3.02%	-10.75%	-10.95%	6.97%	4.21%	-26.84%	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	39.29B	38.77B	42.33B	44.68B	42.68B	36.98B	39.08B	39.22B	45.38B	36.17B
UNITED STATES Growth	-	-1.33%	9.20%	5.54%	-4.47%	-13.36%	5.67%	0.36%	15.71%	-20.29%
Asia Other Than China	13.43B	10.55B	8.9B	12.14B	10.66B	4.13B	5.84B	8.39B	10.01B	11.99B
Asia Other Than China Growth	-	-21.44%	-15.67%	36.43%	-12.18%	-61.28%	41.59%	43.59%	19.30%	19.78%
Europe	12.25B	13.79B	11.46B	12.98B	10.37B	7.96B	8.97B	7.92B	10.52B	8.73B
Europe Growth	-	12.59%	-16.92%	13.26%	-20.11%	-23.20%	12.64%	-11.72%	32.90%	-16.98%
Middle East	10.85B	13.3B	12.29B	9.74B	9.27B	5.31B	4.65B	5.05B	6.59B	4.63B
Middle East Growth	-	22.60%	-7.60%	-20.69%	-4.85%	-42.75%	-12.34%	8.47%	30.65%	-29.71%
CANADA	1.87B	2.08B	2.2B	2.58B	2.02B	1.3B	969M	1.61B	1.26B	1.47B
CANADA Growth	-	11.02%	5.83%	17.57%	-21.84%	-35.51%	-25.58%	66.36%	-22.08%	17.20%
Latin America	1.88B	1.94B	1.49B	1.46B	1.01B	229M	1.38B	2.41B	1.52B	1.25B
Latin America Growth	-	3.25%	-22.83%	-2.41%	-30.38%	-77.44%	500.87%	75.29%	-36.82%	-18.24%
Africa	1.4B	2B	755M	1.49B	1.11B	114M	239M	418M	825M	1.14B
Africa Growth	-	42.99%	-62.23%	96.82%	-25.10%	-89.76%	109.65%	74.90%	97.37%	38.55%
CHINA	12.56B	10.31B	11.91B	13.76B	5.68B	1.8B	-	-	-	-
CHINA Growth	-	-17.87%	15.51%	15.56%	-58.70%	-68.28%	-	-	-	-

Frequently Asked Questions

Growth & Financials

The Boeing Company (BA) reported $80.76B in revenue for fiscal year 2024. This represents a 17% increase from $68.73B in 2011.

The Boeing Company (BA) saw revenue decline by 14.5% over the past year.

The Boeing Company (BA) reported a net loss of $9.85B for fiscal year 2024.

Dividend & Returns

The Boeing Company (BA) had negative free cash flow of $4.79B in fiscal year 2024, likely due to heavy capital investments.

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The Boeing Company (BA) 10-Year Financial Performance & Capital Metrics

BA • • Industrial / General

IndustrialsAerospace & DefenseAircraft ManufacturingLarge Commercial Aircraft OEMs

Revenue $66.52B -14.5%
EBITDA -$8.95B -954.3%
Net Income -$11.82B -431.8%
EPS (Diluted) -18.36 -400.3%
Gross Margin -2.94% -129.7%
EBITDA Margin -13.46% -1099.1%
Operating Margin -16.22% -1452.0%
Net Margin -17.77% -522.0%
ROE -
ROIC -27.36% -1010.4%
Debt/Equity -
Interest Coverage -3.96 -1097.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading near 52-week high

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-3.06%

5Y-2.77%

3Y2.22%

TTM10.19%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-23.51%

EPS CAGR

10Y-

5Y-

3Y-

TTM-5.99%

ROCE

10Y Avg4.15%

5Y Avg-8.5%

3Y Avg-10.06%

Latest-21.48%

Peer Comparison

Large Commercial Aircraft OEMs

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BAThe Boeing Company	194B	247.74	-13.49	-14.49%	-12.2%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	96.11B	94.57B	94B	101.13B	76.56B	58.16B	62.29B	66.61B	77.79B	66.52B
Revenue Growth %	0.06%	-0.02%	-0.01%	0.08%	-0.24%	-0.24%	0.07%	0.07%	0.17%	-0.14%
Cost of Goods Sold+	82.09B	80.79B	76.61B	81.49B	72.07B	57.15B	55.8B	63.14B	70.09B	68.48B
COGS % of Revenue	0.85%	0.85%	0.81%	0.81%	0.94%	0.98%	0.9%	0.95%	0.9%	1.03%
Gross Profit+	14.03B	13.78B	17.39B	19.64B	4.49B	1.01B	6.48B	3.46B	7.71B	-1.96B
Gross Margin %	0.15%	0.15%	0.19%	0.19%	0.06%	0.02%	0.1%	0.05%	0.1%	-0.03%
Gross Profit Growth %	0%	-0.02%	0.26%	0.13%	-0.77%	-0.77%	5.4%	-0.47%	1.23%	-1.25%
Operating Expenses+	6.86B	8.24B	7.27B	7.84B	6.43B	7.29B	6.42B	7.02B	8.52B	8.83B
OpEx % of Revenue	0.07%	0.09%	0.08%	0.08%	0.08%	0.13%	0.1%	0.11%	0.11%	0.13%
Selling, General & Admin	3.52B	3.62B	4.09B	4.57B	3.21B	4.81B	4.17B	4.17B	5.14B	5.02B
SG&A % of Revenue	0.04%	0.04%	0.04%	0.05%	0.04%	0.08%	0.07%	0.06%	0.07%	0.08%
Research & Development	3.33B	4.63B	3.18B	3.27B	3.22B	2.48B	2.25B	2.85B	3.38B	3.81B
R&D % of Revenue	0.03%	0.05%	0.03%	0.03%	0.04%	0.04%	0.04%	0.04%	0.04%	0.06%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	7.17B	5.54B	10.12B	11.8B	-1.94B	-6.27B	63M	-3.55B	-813M	-10.79B
Operating Margin %	0.07%	0.06%	0.11%	0.12%	-0.03%	-0.11%	0%	-0.05%	-0.01%	-0.16%
Operating Income Growth %	-0%	-0.23%	0.83%	0.17%	-1.16%	-2.24%	1.01%	-57.41%	0.77%	-12.27%
EBITDA+	9B	7.45B	12.19B	13.91B	335M	-4.03B	2.21B	-1.57B	1.05B	-8.95B
EBITDA Margin %	0.09%	0.08%	0.13%	0.14%	0%	-0.07%	0.04%	-0.02%	0.01%	-0.13%
EBITDA Growth %	-0.01%	-0.17%	0.64%	0.14%	-0.98%	-13.02%	1.55%	-1.71%	1.67%	-9.54%
D&A (Non-Cash Add-back)	1.83B	1.91B	2.07B	2.11B	2.27B	2.25B	2.14B	1.98B	1.86B	1.84B
EBIT	7.43B	5.87B	10.47B	12.08B	-1.54B	-12.32B	-2.35B	-2.49B	454M	-9.48B
Net Interest Income+	-275M	-306M	-360M	-475M	-722M	-2.16B	-2.68B	-2.53B	-2.46B	-2.73B
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	275M	306M	360M	475M	722M	2.16B	2.68B	2.53B	2.46B	2.73B
Other Income/Expense	-15M	30M	-12M	-197M	-323M	-8.2B	-5.1B	-1.47B	-1.19B	-1.42B
Pretax Income+	7.16B	5.57B	10.05B	11.6B	-2.26B	-14.48B	-5.03B	-5.02B	-2B	-12.21B
Pretax Margin %	0.07%	0.06%	0.11%	0.11%	-0.03%	-0.25%	-0.08%	-0.08%	-0.03%	-0.18%
Income Tax+	1.98B	673M	1.85B	1.14B	-1.62B	-2.54B	-743M	31M	237M	-381M
Effective Tax Rate %	0.72%	0.88%	0.84%	0.9%	0.28%	0.82%	0.83%	0.98%	1.11%	0.97%
Net Income+	5.17B	4.89B	8.45B	10.45B	-636M	-11.87B	-4.2B	-4.93B	-2.22B	-11.82B
Net Margin %	0.05%	0.05%	0.09%	0.1%	-0.01%	-0.2%	-0.07%	-0.07%	-0.03%	-0.18%
Net Income Growth %	-0.05%	-0.05%	0.73%	0.24%	-1.06%	-17.67%	0.65%	-0.17%	0.55%	-4.32%
Net Income (Continuing)	5.18B	4.89B	8.46B	10.46B	-636M	-11.94B	-4.29B	-5.05B	-2.24B	-11.83B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	62M	60M	57M	71M	317M	241M	153M	35M	5M	-6M
EPS (Diluted)+	7.44	7.61	13.43	17.84	-1.12	-20.99	-7.15	-8.29	-3.67	-18.36
EPS Growth %	0.01%	0.02%	0.76%	0.33%	-1.06%	-17.74%	0.66%	-0.16%	0.56%	-4%
EPS (Basic)	7.52	7.70	13.60	18.05	-1.12	-21.00	-7.15	-8.30	-3.67	-18.36
Diluted Shares Outstanding	696.1M	643.8M	610.7M	586.2M	567.86M	569M	588M	595.2M	606.1M	646.9M
Basic Shares Outstanding	688.3M	635.71M	602.72M	579.5M	567.86M	568.63M	587.69M	594.58M	605.45M	646.9M
Dividend Payout Ratio	0.48%	0.56%	0.4%	0.38%	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	68.23B	62.49B	65.16B	87.83B	102.23B	121.64B	108.67B	109.52B	109.28B	128B
Cash & Short-Term Investments	12.05B	10.03B	9.99B	8.56B	10.03B	25.59B	16.24B	17.22B	15.96B	26.28B
Cash Only	11.3B	8.8B	8.81B	7.64B	9.48B	7.75B	8.05B	14.61B	12.69B	13.8B
Short-Term Investments	750M	1.23B	1.18B	927M	545M	17.84B	8.19B	2.61B	3.27B	12.48B
Accounts Receivable	8.93B	9.26B	11.4B	14.36B	12.47B	10.05B	11.38B	11.3B	11.06B	11.2B
Days Sales Outstanding	33.89	35.74	44.25	51.84	59.46	63.08	66.68	61.95	51.92	61.46
Inventory	47.26B	43.2B	44.34B	62.57B	76.62B	81.72B	78.82B	78.15B	79.74B	87.55B
Days Inventory Outstanding	210.13	195.17	211.27	280.24	388.06	521.91	515.56	451.75	415.28	466.67
Other Current Assets	0	0	2.73B	2.33B	3.11B	4.29B	2.22B	2.85B	2.5B	2.96B
Total Non-Current Assets+	26.17B	27.51B	27.17B	29.53B	31.4B	30.49B	29.89B	27.58B	27.74B	28.36B
Property, Plant & Equipment	12.08B	12.81B	12.67B	12.64B	12.5B	11.82B	10.92B	10.55B	11.52B	11.73B
Fixed Asset Turnover	7.96x	7.38x	7.42x	8.00x	6.12x	4.92x	5.70x	6.31x	6.75x	5.67x
Goodwill	5.13B	5.32B	5.56B	7.84B	8.06B	8.08B	8.07B	8.06B	8.09B	8.08B
Intangible Assets	2.66B	2.54B	2.57B	3.43B	3.34B	2.84B	2.56B	2.31B	2.09B	1.96B
Long-Term Investments	1.28B	1.32B	1.26B	1.09B	1.09B	1.02B	975M	983M	1.03B	999M
Other Non-Current Assets	4.77B	5.19B	4.77B	4.24B	5.72B	6.65B	7.29B	5.61B	4.93B	5.41B
Total Assets+	94.41B	90B	92.33B	117.36B	133.63B	152.14B	138.55B	137.1B	137.01B	156.36B
Asset Turnover	1.02x	1.05x	1.02x	0.86x	0.57x	0.38x	0.45x	0.49x	0.57x	0.43x
Asset Growth %	-0.05%	-0.05%	0.03%	0.27%	0.14%	0.14%	-0.09%	-0.01%	-0%	0.14%
Total Current Liabilities+	50.41B	50.13B	56.27B	81.59B	97.31B	87.28B	81.99B	90.05B	95.83B	97.08B
Accounts Payable	10.8B	11.19B	12.2B	12.92B	15.55B	12.93B	9.26B	10.2B	11.96B	11.36B
Days Payables Outstanding	48.02	50.56	58.13	57.85	78.77	82.57	60.57	58.96	62.31	60.57
Short-Term Debt	1.23B	384M	383M	3.19B	7.27B	1.63B	1.24B	5.13B	5.13B	1.19B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	8.13B	8.82B	52.16B	7.42B	7.26B	9.03B	10.49B	13.18B	14.34B	16.33B
Current Ratio	1.35x	1.25x	1.16x	1.08x	1.05x	1.39x	1.33x	1.22x	1.14x	1.32x
Quick Ratio	0.42x	0.38x	0.37x	0.31x	0.26x	0.46x	0.36x	0.35x	0.31x	0.42x
Cash Conversion Cycle	196	180.35	197.38	274.24	368.75	502.41	521.66	454.74	404.89	467.56
Total Non-Current Liabilities+	37.6B	38.99B	35.65B	35.36B	44.61B	82.93B	71.41B	62.9B	58.41B	63.2B
Long-Term Debt	8.63B	9.49B	9.7B	10.56B	19.8B	61.75B	56.69B	51.67B	46.93B	52.43B
Capital Lease Obligations	97M	81M	86M	99M	158M	138M	119M	141M	176M	153M
Deferred Tax Liabilities	2.39B	1.34B	1.84B	1.74B	413M	1.01B	218M	230M	229M	122M
Other Non-Current Liabilities	26.38B	28.08B	24.03B	22.91B	24.24B	20.03B	14.38B	10.86B	11.08B	10.49B
Total Liabilities	88.01B	89.12B	91.92B	116.95B	141.93B	170.21B	153.4B	152.95B	154.24B	160.28B
Total Debt+	9.96B	10.01B	11.12B	13.85B	27.55B	63.85B	58.37B	57.28B	52.6B	54.19B
Net Debt	-1.44B	1.21B	2.22B	6.11B	18.07B	56.1B	50.32B	42.66B	39.91B	40.39B
Debt / Equity	1.56x	11.41x	26.98x	33.77x	-	-	-	-	-	-
Debt / EBITDA	1.11x	1.34x	0.91x	1.00x	82.25x	-	26.45x	-	50.19x	-
Net Debt / EBITDA	-0.16x	0.16x	0.18x	0.44x	53.94x	-	22.80x	-	38.08x	-
Interest Coverage	26.07x	18.10x	28.11x	24.84x	-2.68x	-2.91x	0.02x	-1.40x	-0.33x	-3.96x
Total Equity+	6.4B	877M	412M	410M	-8.3B	-18.07B	-14.85B	-15.85B	-17.23B	-3.91B
Equity Growth %	-0.27%	-0.86%	-0.53%	-0%	-21.24%	-1.18%	0.18%	-0.07%	-0.09%	0.77%
Book Value per Share	9.19	1.36	0.67	0.70	-14.62	-31.77	-25.25	-26.63	-28.42	-6.05
Total Shareholders' Equity	6.33B	817M	355M	339M	-8.62B	-18.32B	-15B	-15.88B	-17.23B	-3.91B
Common Stock	5.06B	5.06B	5.06B	5.06B	5.06B	5.06B	5.06B	5.06B	5.06B	5.06B
Retained Earnings	38.76B	40.71B	45.32B	55.94B	50.64B	38.61B	34.41B	29.47B	27.25B	15.36B
Treasury Stock	-29.57B	-36.1B	-43.45B	-52.35B	-54.91B	-52.64B	-51.86B	-50.81B	-49.55B	-32.39B
Accumulated OCI	-12.75B	-13.62B	-13.38B	-15.08B	-16.15B	-17.13B	-11.66B	-9.55B	-10.3B	-10.91B
Minority Interest	62M	60M	57M	71M	317M	241M	153M	35M	5M	-6M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	9.36B	10.5B	13.34B	15.32B	-2.45B	-18.41B	-3.42B	3.51B	5.96B	-12.08B
Operating CF Margin %	0.1%	0.11%	0.14%	0.15%	-0.03%	-0.32%	-0.05%	0.05%	0.08%	-0.18%
Operating CF Growth %	0.06%	0.12%	0.27%	0.15%	-1.16%	-6.53%	0.81%	2.03%	0.7%	-3.03%
Net Income	5.18B	4.89B	8.2B	10.46B	-636M	-11.94B	-4.16B	-4.93B	-2.24B	-11.83B
Depreciation & Amortization	1.83B	1.91B	2.07B	2.11B	2.27B	2.25B	2.14B	1.98B	1.86B	1.84B
Stock-Based Compensation	189M	190M	202M	202M	217M	445M	2.07B	1.94B	690M	407M
Deferred Taxes	11M	97M	92M	18M	-248M	6.7B	3.28B	0	0	0
Other Non-Cash Items	359M	362M	289M	244M	579M	1.41B	227M	388M	1.56B	6.27B
Working Capital Changes	1.79B	3.04B	2.5B	2.28B	-4.63B	-17.34B	-6.98B	4.14B	4.09B	-8.77B
Change in Receivables	-1.07B	112M	-1.82B	-795M	603M	909M	-713M	142M	764M	415M
Change in Inventory	-1.11B	3.75B	-1.08B	568M	-12.39B	-11B	-1.13B	420M	1.68B	-12.35B
Change in Payables	-238M	622M	130M	2M	1.6B	-5.36B	-3.78B	838M	1.67B	-793M
Cash from Investing+	-1.85B	-3.38B	-2.06B	-4.62B	-1.53B	-18.37B	9.32B	4.37B	-2.44B	-11.97B
Capital Expenditures	-2.45B	-2.61B	-1.87B	-1.79B	-1.96B	-1.3B	-980M	-1.22B	-1.53B	-2.23B
CapEx % of Revenue	0.03%	0.03%	0.02%	0.02%	0.03%	0.02%	0.02%	0.02%	0.02%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	81M	40M	94M	109M	321M	-18M	534M	30M	-131M	-704M
Cash from Financing+	-7.92B	-9.59B	-11.35B	-11.72B	5.74B	34.95B	-5.6B	-1.27B	-5.49B	25.21B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-2.49B	-2.76B	-3.42B	-3.95B	-4.63B	-1.16B	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	460M	204M	179M	-222M	-256M	-173M	-66M	-40M	-391M	-136M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	6.91B	7.89B	11.47B	13.53B	-4.41B	-19.71B	-4.4B	2.29B	4.43B	-14.4B
FCF Margin %	0.07%	0.08%	0.12%	0.13%	-0.06%	-0.34%	-0.07%	0.03%	0.06%	-0.22%
FCF Growth %	0.04%	0.14%	0.45%	0.18%	-1.33%	-3.47%	0.78%	1.52%	0.94%	-4.25%
FCF per Share	9.93	12.25	18.79	23.08	-7.76	-34.64	-7.48	3.85	7.31	-22.26
FCF Conversion (FCF/Net Income)	1.81x	2.15x	1.58x	1.47x	3.85x	1.55x	0.81x	-0.71x	-2.68x	1.02x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	68.11%	134.51%	1311.4%	2543.31%	-	-	-	-	-	-
Return on Invested Capital (ROIC)	96.15%	116.28%	316.15%	189.6%	-17.72%	-19.69%	0.13%	-8.56%	-2.46%	-27.36%
Gross Margin	14.59%	14.57%	18.5%	19.42%	5.87%	1.74%	10.41%	5.2%	9.91%	-2.94%
Net Margin	5.38%	5.17%	8.99%	10.34%	-0.83%	-20.41%	-6.75%	-7.41%	-2.86%	-17.77%
Debt / Equity	1.56x	11.41x	26.98x	33.77x	-	-	-	-	-	-
Interest Coverage	26.07x	18.10x	28.11x	24.84x	-2.68x	-2.91x	0.02x	-1.40x	-0.33x	-3.96x
FCF Conversion	1.81x	2.15x	1.58x	1.47x	3.85x	1.55x	0.81x	-0.71x	-2.68x	1.02x
Revenue Growth	5.9%	-1.61%	-0.6%	7.58%	-24.29%	-24.03%	7.09%	6.94%	16.8%	-14.49%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Boeing Defense Space Security	30.39B	29.5B	21.06B	23.2B	26.23B	26.26B	26.54B	23.16B	24.93B	23.92B
Boeing Defense Space Security Growth	-	-2.93%	-28.62%	10.15%	13.07%	0.11%	1.08%	-12.73%	7.65%	-4.07%
Commercial Airplanes	66.05B	65.07B	56.73B	60.72B	32.26B	16.16B	19.49B	25.87B	33.9B	22.86B
Commercial Airplanes Growth	-	-1.48%	-12.82%	7.03%	-46.87%	-49.89%	20.61%	32.70%	31.06%	-32.57%
Global Services	-	-	14.64B	17.02B	18.47B	15.54B	16.33B	17.61B	19.13B	19.95B
Global Services Growth	-	-	-	16.25%	8.52%	-15.84%	5.05%	7.86%	8.61%	4.32%
Boeing Capital Corporation	413M	298M	307M	274M	244M	261M	272M	199M	-	-
Boeing Capital Corporation Growth	-	-27.85%	3.02%	-10.75%	-10.95%	6.97%	4.21%	-26.84%	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	39.29B	38.77B	42.33B	44.68B	42.68B	36.98B	39.08B	39.22B	45.38B	36.17B
UNITED STATES Growth	-	-1.33%	9.20%	5.54%	-4.47%	-13.36%	5.67%	0.36%	15.71%	-20.29%
Asia Other Than China	13.43B	10.55B	8.9B	12.14B	10.66B	4.13B	5.84B	8.39B	10.01B	11.99B
Asia Other Than China Growth	-	-21.44%	-15.67%	36.43%	-12.18%	-61.28%	41.59%	43.59%	19.30%	19.78%
Europe	12.25B	13.79B	11.46B	12.98B	10.37B	7.96B	8.97B	7.92B	10.52B	8.73B
Europe Growth	-	12.59%	-16.92%	13.26%	-20.11%	-23.20%	12.64%	-11.72%	32.90%	-16.98%
Middle East	10.85B	13.3B	12.29B	9.74B	9.27B	5.31B	4.65B	5.05B	6.59B	4.63B
Middle East Growth	-	22.60%	-7.60%	-20.69%	-4.85%	-42.75%	-12.34%	8.47%	30.65%	-29.71%
CANADA	1.87B	2.08B	2.2B	2.58B	2.02B	1.3B	969M	1.61B	1.26B	1.47B
CANADA Growth	-	11.02%	5.83%	17.57%	-21.84%	-35.51%	-25.58%	66.36%	-22.08%	17.20%
Latin America	1.88B	1.94B	1.49B	1.46B	1.01B	229M	1.38B	2.41B	1.52B	1.25B
Latin America Growth	-	3.25%	-22.83%	-2.41%	-30.38%	-77.44%	500.87%	75.29%	-36.82%	-18.24%
Africa	1.4B	2B	755M	1.49B	1.11B	114M	239M	418M	825M	1.14B
Africa Growth	-	42.99%	-62.23%	96.82%	-25.10%	-89.76%	109.65%	74.90%	97.37%	38.55%
CHINA	12.56B	10.31B	11.91B	13.76B	5.68B	1.8B	-	-	-	-
CHINA Growth	-	-17.87%	15.51%	15.56%	-58.70%	-68.28%	-	-	-	-

Frequently Asked Questions

Growth & Financials

The Boeing Company (BA) reported $80.76B in revenue for fiscal year 2024. This represents a 17% increase from $68.73B in 2011.

The Boeing Company (BA) saw revenue decline by 14.5% over the past year.

The Boeing Company (BA) reported a net loss of $9.85B for fiscal year 2024.

Dividend & Returns

The Boeing Company (BA) had negative free cash flow of $4.79B in fiscal year 2024, likely due to heavy capital investments.