Upside case
Bull case
—
The bull case requires both strong earnings delivery and the market pricing BA more generously than it does today.
Analysis OverviewBuyUpdated May 1, 2026
The Boeing Company (BA) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
54
analysts
36 bullish · 5 bearish · 54 covering BA
Strong Buy
0
Buy
36
Hold
13
Sell
5
Strong Sell
0
Consensus Target
$264
+14.7% vs today
Scenario Range
$10467 – —
Model bear to bull value window
Coverage
54
Published analyst ratings
Valuation Context
4955.4x
Forward P/E · Market cap $181.3B
BA price targets
Three scenarios for where BA stock could go
Current
~$230
Confidence
52 / 100
Updated
May 1, 2026
Where we are now
Current · $230
Bear
$10467
Base
$271
Market caseClosest to today
Base case
$271+18.0%
At 5846x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$10467+4452.2%
The bear case assumes sentiment or fundamentals disappoint enough to push BA down roughly 4452% from the current price.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
The Boeing Company
BA · NYSEIndustrialsAerospace & DefenseDecember year-end
Boeing is a global aerospace company that designs, manufactures, and services commercial airplanes, defense systems, and space technologies. It generates revenue primarily from commercial aircraft sales (~40% of revenue), defense and space contracts (~35%), and a growing global services segment (~25%) that provides maintenance, upgrades, and logistics support. The company's competitive advantage lies in its massive scale, deep government relationships, and high barriers to entry in aerospace manufacturing—where development costs are enormous and certification processes are extremely complex.
Market Cap
$181.3B
Revenue TTM
$92.2B
Net Income TTM
$2.3B
Net Margin
2.5%
BA Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
58%Exceptional
12 quarters tracked
Revenue Beat Rate
83%Exceptional
vs consensus estimates
Avg EPS Surprise
+185.0%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 3 of 4Q3 2025
EPS
$-1.24/$-1.40
Revenue
$22.7B/$22.2B
Q4 2025
EPS
$-7.47/$-5.16
Revenue
$23.3B/$22.1B
Q1 2026
EPS
$9.92/$-0.44
Revenue
$23.9B/$22.6B
Q2 2026
EPS
$-0.20/$-0.68
Revenue
$22.2B/$21.9B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $-1.24/$-1.40 | +11.4% | $22.7B/$22.2B | +2.7% |
| Q4 2025 | $-7.47/$-5.16 | -44.8% | $23.3B/$22.1B | +5.5% |
| Q1 2026 | $9.92/$-0.44 | +2362.1% | $23.9B/$22.6B | +6.0% |
| Q2 2026 | $-0.20/$-0.68 | +70.8% | $22.2B/$21.9B | +1.7% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$105.1B
+14.0% YoY
FY2
$127.4B
+21.1% YoY
EPS Outlook
FY1
$1.25
-54.8% YoY
FY2
$2.93
+133.4% YoY
Trailing FCF (TTM)-$1.0B
FCF Margin: -1.1%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
BA beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
BA Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $41.5B
Product Mix
Latest annual revenue by segment or product family
Commercial Airplanes Segment
100.0%
+81.5% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
37.2%
+32.9% YoY
Tap, hover, or focus a slice to inspect segment detail.
Commercial Airplanes Segment is the largest disclosed segment at 100.0% of FY 2025 revenue, up 81.5% YoY.
UNITED STATES is the largest reported region at 37.2%, up 32.9% YoY.
BA Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Overvalued
Fair value est. $47 — implies -79.3% from today's price.
Premium to Fair Value
79.3%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
BA
92.7x
vs
S&P 500
25.2x
+267% premium
vs Industrials Trailing P/E
BA
92.7x
vs
Industrials
25.9x
+258% premium
vs BA 5Y Avg P/E
Today
92.7x
vs
5Y Average
87.5x
+6% premium
Forward PE
4955.4x
S&P 500
19.1x
+25895%
Industrials
20.8x
+23707%
5Y Avg
—
—
Trailing PE
92.7x
S&P 500
25.2x
+267%
Industrials
25.9x
+258%
5Y Avg
87.5x
+6%
PEG Ratio
—
S&P 500
1.75x
—
Industrials
1.59x
—
5Y Avg
—
—
EV/EBITDA
—
S&P 500
15.3x
—
Industrials
13.9x
—
5Y Avg
76.4x
—
Price/FCF
—
S&P 500
21.3x
—
Industrials
20.6x
—
5Y Avg
42.6x
—
Price/Sales
2.0x
S&P 500
3.1x
-35%
Industrials
1.6x
+27%
5Y Avg
1.8x
+10%
Dividend Yield
0.19%
S&P 500
1.88%
-90%
Industrials
1.24%
-85%
5Y Avg
0.20%
-6%
| Metric | BA | S&P 500 | Industrials | 5Y Avg BA |
|---|---|---|---|---|
| Forward PE | 4955.4x | 19.1x+25895% | 20.8x+23707% | — |
| Trailing PE | 92.7x | 25.2x+267% | 25.9x+258% | 87.5x |
| PEG Ratio | — | 1.75x | 1.59x | — |
| EV/EBITDA | — | 15.3x | 13.9x | 76.4x |
| Price/FCF | — | 21.3x | 20.6x | 42.6x |
| Price/Sales | 2.0x | 3.1x-35% | 1.6x+27% | 1.8x+10% |
| Dividend Yield | 0.19% | 1.88% | 1.24% | 0.20% |
BA trades above S&P 500 benchmarks on 2 of 3 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolBA Financial Health
Verdict
Adequate
Key financial metrics for BA are shown below.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$92.2B
Revenue Growth
TTM vs prior year
+32.7%
Gross Margin
Gross profit as a share of revenue
4.8%
Operating Margin
Operating income divided by revenue
-5.9%
Net Margin
Net income divided by revenue
2.5%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$2.77
Free Cash Flow (TTM)
Cash generation after capex
-$1.0B
FCF Margin
FCF as share of revenue — the primary cash quality signal
-1.1%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
-9.5%
ROA
Return on assets, trailing twelve months
1.4%
Cash & Equivalents
Liquid assets on the balance sheet
$10.9B
Net Debt
Total debt minus cash
$43.5B
Debt Serviceability
Net debt as a multiple of annual free cash flow
—
ROE
Return on equity, trailing twelve months
—
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.2%
Dividend
0.2%
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
$0.43
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Current diluted share count
788M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageBA Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
Debt & Financial Losses
Boeing has incurred losses exceeding $39 billion since early 2019, driven by 737 MAX groundings, accidents, and manufacturing defects. Its net debt is projected to reach $5.9 billion by 2028, and the company’s credit rating is near junk status, limiting access to cheap capital.
High Risk
Regulatory & Safety Scrutiny
The January 2024 Alaska Airlines door‑plug blowout has intensified FAA investigations and potential penalties. Boeing faces fraud charges linked to fatal 737 MAX crashes, resulting in significant fines and compensation payments.
Medium
Production & Operational Risks
Delays in ramping up 737 MAX production risk further revenue and margin erosion. Recent machining errors on 737 MAX jets underscore ongoing quality‑control challenges.
Medium
Supply Chain & Trade Tensions
Persistent shortages of aircraft parts and U.S. tariffs on imported goods could raise input costs for steel and aluminum. Trade tensions with China may delay deliveries and impact revenue.
Medium
Demand & Order Volatility
Boeing’s heavy reliance on commercial airlines makes it vulnerable to market swings. Order cancellations for 777X, 737, and 787 models have totaled billions, reducing revenue potential.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why BA Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
Revenue Growth Momentum
Boeing posted a 34.49% year‑over‑year revenue increase, reaching $89.46 billion for the 12 months ending December 2025. The commercial airplanes segment alone grew 49% YoY, driven by higher deliveries of the 737 and 787 models.
Massive Order Backlog
The company holds a commercial backlog of $522 billion, providing significant revenue visibility for years ahead. Growing services work further bolsters long‑term cash flow prospects.
Free Cash Flow Turnaround
Management plans to achieve positive free cash flow of $1–3 billion in 2026, targeting a normalized $10 billion over time. Analysts note that returning to peak cash flow levels could lift the stock toward $500–600 per share.
Defense & Space Contract Wins
Recent victories such as the PAC‑3 seeker deal and the successful Artemis II mission add a steadier revenue base while commercial operations rebuild. These contracts reinforce Boeing’s defense and space market position.
Potential Chinese Orders
Reports indicate China is preparing to place significant orders for Boeing aircraft, which could help bridge the gap with Airbus and strengthen Boeing’s global market position.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
BA Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$229.93
52W Range Position
69%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$176.77
+30.1% from the low
52-Week High
$254.35
-9.6% from the high
1 Month
+8.30%
3 Month
-5.39%
YTD
+0.9%
1 Year
+23.6%
3Y CAGR
+5.2%
5Y CAGR
+0.0%
10Y CAGR
+5.6%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
BA vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
4955.4x
vs 21.1x median
+23433% above peer median
Revenue Growth
+14.0%
vs +6.1% median
+129% above peer median
Net Margin
2.5%
vs 8.0% median
-69% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
BA BA The Boeing Company | $181.3B | 4955.4x | +14.0% | 2.5% | Buy | +14.7% |
RTX RTX RTX Corporation | $238.0B | 25.5x | +7.0% | 8.0% | Buy | +27.2% |
LMT LMT Lockheed Martin Corporation | $118.5B | 17.2x | +5.1% | 6.4% | Buy | +23.5% |
NOC NOC Northrop Grumman Corporation | $79.4B | 20.0x | +3.4% | 10.8% | Buy | +30.9% |
GD GD General Dynamics Corporation | $93.9B | 21.1x | +6.1% | 8.1% | Buy | +17.7% |
AIR AIR AAR Corp. | $4.7B | 24.2x | +14.0% | 5.5% | Buy | +1.1% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
BA Dividend and Capital Return
BA returns 0.2% total yield, led by a 0.19% dividend.
Dividend UnknownFCF Unknown
Total Shareholder Yield
0.2%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
0.19%
Payout Ratio
—
How BA Splits Its Return
Div 0.19%
Dividend 0.19%Buybacks 0.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.43
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
-26.6%
Ex-Dividend Date
—
Payment Cadence
Annual
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$0
Estimated Shares Retired
0
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
788M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2020 | $2.06 | -75.0% | 0.0% | 1.0% |
| 2019 | $8.22 | +20.2% | 1.4% | 3.9% |
| 2018 | $6.84 | +20.4% | 4.8% | 6.8% |
| 2017 | $5.68 | +30.3% | 5.1% | 7.0% |
| 2016 | $4.36 | +19.8% | 7.0% | 9.7% |
FAQ
7 questionsBA Investor Questions
Common questions answered from live analyst data and company financials.
01Is The Boeing Company (BA) stock a buy or sell in 2026?
The Boeing Company (BA) is rated Buy by Wall Street analysts as of 2026. Of 54 analysts covering the stock, 36 rate it Buy or Strong Buy, 13 rate it Hold, and 5 rate it Sell or Strong Sell. The consensus 12-month price target is $264, implying +14.7% from the current price of $230.
02What is the BA stock price target for 2026?
The Wall Street consensus price target for BA is $264 based on 54 analyst estimates. The high-end target is $298 (+29.6% from today), and the low-end target is $150 (-34.8%). The base case model target is $271.
03Is The Boeing Company (BA) stock overvalued in 2026?
BA trades at 4955.4x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals significantly overvalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for The Boeing Company (BA) stock in 2026?
The primary risks for BA in 2026 are: (1) Debt & Financial Losses — Boeing has incurred losses exceeding $39 billion since early 2019, driven by 737 MAX groundings, accidents, and manufacturing defects. (2) Regulatory & Safety Scrutiny — The January 2024 Alaska Airlines door‑plug blowout has intensified FAA investigations and potential penalties. (3) Production & Operational Risks — Delays in ramping up 737 MAX production risk further revenue and margin erosion. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is The Boeing Company's revenue and earnings forecast?
Analyst consensus estimates BA will report consensus revenue of $105.1B (+14.0% year-over-year) and EPS of $1.25 (-54.8% year-over-year) for the upcoming fiscal year. The following year, analysts project $127.4B in revenue.
06When does The Boeing Company (BA) report its next earnings?
A confirmed upcoming earnings date for BA is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does The Boeing Company generate?
The Boeing Company (BA) had a free cash outflow of $1.0B in free cash flow over the trailing twelve months — a free cash flow margin of 1.1%. BA returns capital to shareholders through dividends (0.2% yield) and share repurchases ($0 TTM).