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Boeing
(NYSE:BA)
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Rating:49Neutral
Price Target:
$185.00
▼(-12.36% Downside)
Action:Reiterated
Date:08/29/26
The score is held back mainly by weak financial quality (thin margins, negative EBIT, volatile free cash flow) and a highly leveraged balance sheet, despite clear top-line and delivery recovery. Technical signals are also bearish with the stock trading below major moving averages and negative MACD. Positive earnings-call takeaways (reiterated free-cash-flow guidance, record backlog, and production/certification progress) provide support, but are tempered by program charges and execution/supply-chain and labor risks. Valuation is a headwind given the high P/E and no dividend yield data.
Positive Factors
Record backlog and demand
The record backlog provides substantial multi-year revenue visibility and demonstrates strong demand for Boeing’s commercial and defense platforms. More than 6,200 aircraft in the BCA backlog can support production utilization, customer relationships, and future Global Services activity as deliveries enter the installed fleet.
Negative Factors
Highly leveraged balance sheet
Boeing’s high debt relative to its small equity base leaves limited cushion if production, deliveries, or program economics weaken. Significant leverage can constrain financial flexibility, increase financing needs, and make it harder to absorb additional charges while funding required operational improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Record backlog and demand
The record backlog provides substantial multi-year revenue visibility and demonstrates strong demand for Boeing’s commercial and defense platforms. More than 6,200 aircraft in the BCA backlog can support production utilization, customer relationships, and future Global Services activity as deliveries enter the installed fleet.
Read all positive factors
Boeing Key Performance Indicators (KPIs)
Any
Commercial Airplane Deliveries
Tracks the number of aircraft delivered to customers, indicating production efficiency and demand in the commercial aviation market.
Tracks the number of aircraft delivered to customers, indicating production efficiency and demand in the commercial aviation market.
Data provided by:
The Fly
The FlyBoeing (BA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$152.98B
Dividend Yield2.4%
Average Volume (3M)7.25M
Price to Earnings (P/E)72.2
Beta (1Y)1.54
Revenue Growth24.78%
EPS GrowthN/A
CountryUS
Employees182,000
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)2.67
Shares Outstanding790,370,000
10 Day Avg. Volume10,557,410
30 Day Avg. Volume7,247,209
Financial Highlights & Ratios
PEG Ratio-0.77
Price to Book (P/B)30.35
Price to Sales (P/S)1.85
P/FCF Ratio-88.18
Enterprise Value/Market Cap1.29
Enterprise Value/Revenue2.10
Enterprise Value/Gross Profit44.81
Enterprise Value/Ebitda28.35
Forecast
1Y Price Target
$272.00Price Target Upside28.86% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering18
EPS Forecast (FY)-1
Revenue Forecast (FY)$98.06B
Boeing Business Overview & Revenue Model
Company Description
The Boeing Company is a global aerospace powerhouse specializing in the design, development, manufacture, sale, and comprehensive support of commercial airliners, military aircraft, satellites, missile defense systems, human space flight, and laun...
How the Company Makes Money
Boeing makes money primarily by selling aerospace products and by providing lifecycle services tied to those products. Its key revenue streams are: (1) Commercial Airplanes (BCA): revenue is generated from the sale and delivery of commercial aircr...
Boeing Earnings Call Summary
Earnings Call Date:Jul 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 27, 2026
Earnings Call Sentiment Positive
The call highlighted clear operational momentum: record commercial deliveries, revenue growth (+8%), positive free cash flow in the quarter, strong backlog and certification progress on several key airplane programs. Management reiterated confidence in meeting annual free cash flow guidance ($1–$3 billion), debt paydown and multi-year margin improvement targets. However, material near-term challenges remain — notably a $280 million VC-25B charge, continued depressed margins in some programs, seat certification lumpiness, engine supply timing for the 787, and labor negotiation risk — that temper the outlook. On balance, progress on production ramps, certification milestones, cash generation and backlog strength outweigh the current program-specific and supply-chain headwinds.Positive Updates
Consolidated Revenue Growth
Consolidated revenue of $24.6 billion, up 8% year-over-year, driven by growth across Commercial Airplanes, Defense & Space, and Global Services.
Negative Updates
VC-25B Program Charge
A $280 million charge was taken in the quarter related to the VC-25B fixed-price development program to add resources and shift to military certification; this drove part of BDS operating results.
Read all updates
Q2-2026 Updates
Positive
Negative
Consolidated Revenue Growth
Consolidated revenue of $24.6 billion, up 8% year-over-year, driven by growth across Commercial Airplanes, Defense & Space, and Global Services.
Read all positive updates
Company Guidance
Boeing reiterated its 2026 guidance with a number of specific metrics: Q2 revenue was $24.6B (up 8%), operating margin 0.6%, core EPS loss $0.76, and H1 free cash flow $631M; cash and marketable securities were $20B, debt $45.9B (down $1.3B Q/Q and $8.2B YTD) with $10B of undrawn credit. Management expects full‑year free cash flow of $1–3B (Q3 FCF to be positive in the low hundreds after a planned $700M DOJ payment), views $10B FCF as attainable longer term, and cited a record company backlog of $715B (BCA backlog $597B, >6,200 airplanes) and a 20‑year market outlook of ~44,000 new aircraft. Production/delivery guidance included BCA’s 171 airplane Q2 (highest since 2018), 737 deliveries of 129 and on track for 500 in 2026 with a ramp to 47/month this summer and plans for 52/month (and later 57/63), 787 deliveries of 25 and on track for 90–100 in 2026 with stabilized production at 8/month (rate‑10 timing tied to engine recovery), and 777‑9 certification >55% complete with first delivery expected in 2027. Segment detail: BDS revenue $7.5B (up 13%), 35 deliveries, $7B orders, $85B backlog and operating margin -0.2% including a $280M VC‑25B charge (ex‑charge 3.5%); BGS revenue $5.3B (ex‑DAS +8%), 18.1% operating margin, $5B orders and $33B backlog — all underpinning management’s expectation of improving margins and cash flow as deliveries, BDS execution and BGS growth continue.Boeing Financial Statement Overview
Summary
Income Statement
55
Neutral
Balance Sheet
26
Negative
Cash Flow
42
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 94.00B | 89.46B | 66.52B | 77.79B | 66.61B | 62.29B |
| Gross Profit | 4.40B | 4.29B | -1.99B | 7.72B | 3.53B | 3.05B |
| EBITDA | 6.95B | 7.36B | -7.65B | 2.31B | -482.00M | -175.00M |
| Net Income | 2.44B | 2.23B | -11.82B | -2.22B | -4.93B | -4.20B |
Balance Sheet | ||||||
| Total Assets | 165.87B | 168.24B | 156.36B | 137.01B | 137.10B | 138.55B |
| Cash, Cash Equivalents and Short-Term Investments | 20.02B | 29.40B | 26.28B | 15.96B | 17.22B | 16.24B |
| Total Debt | 45.89B | 54.43B | 54.19B | 52.60B | 57.28B | 58.37B |
| Total Liabilities | 159.75B | 162.78B | 160.28B | 154.24B | 152.95B | 153.40B |
| Stockholders Equity | 6.10B | 5.45B | -3.91B | -17.23B | -15.88B | -15.00B |
Cash Flow | ||||||
| Free Cash Flow | -210.00M | -1.88B | -14.40B | 4.43B | 2.29B | -4.40B |
| Operating Cash Flow | 3.64B | 1.06B | -12.08B | 5.96B | 3.51B | -3.42B |
| Investing Cash Flow | 8.07B | 499.00M | -11.97B | -2.44B | 4.37B | 9.32B |
| Financing Cash Flow | -11.55B | -3.76B | 25.21B | -5.49B | -1.27B | -5.60B |
Boeing Technical Analysis
Negative
211.08
Price Trends
211.99
Negative
215.87
Negative
220.68
Negative
Market Momentum
-5.99
Positive
40.45
Neutral
44.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BA, the sentiment is Negative. The current price of 211.08 is above the 20-day moving average (MA) of 198.99, below the 50-day MA of 211.99, and below the 200-day MA of 220.68, indicating a bearish trend. The MACD of -5.99 indicates Positive momentum. The RSI at 40.45 is Neutral, neither overbought nor oversold. The STOCH value of 44.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BA.
Boeing Risk Analysis
Boeing disclosed 28 risk factors in its most recent earnings report. Boeing reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Boeing Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $89.31B | 19.95 | 17.43% | 1.86% | 9.13% | 10.37% | |
74 Outperform | $67.91B | 15.10 | 26.58% | 2.01% | 5.90% | 16.00% | |
70 Outperform | $116.64B | 18.59 | 86.24% | 2.72% | 7.20% | 52.79% | |
70 Outperform | $248.90B | 32.06 | 11.79% | 1.53% | 11.84% | 24.93% | |
69 Neutral | $321.19B | 35.96 | 49.03% | 0.58% | 21.69% | 18.42% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
49 Neutral | $152.98B | 72.18 | 104.83% | 2.40% | 24.78% | ― |
* Industrials Sector Average
BA
Boeing
192.72
-27.01
-12.29%
GD
General Dynamics
331.72
-8.77
-2.58%
GE
GE Aerospace
306.34
9.72
3.28%
LMT
Lockheed Martin
506.63
5.34
1.07%
NOC
Northrop Grumman
476.11
-132.49
-21.77%
RTX
RTX
184.33
18.00
10.82%
Boeing Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Boeing Expands and Extends Credit Facilities to Bolster Liquidity
Positive
Aug 28, 2026
On August 24, 2026, Boeing entered into a new 364-day credit agreement with a syndicate of lenders, with Citibank acting as administrative agent and JPMorgan Chase as syndication agent, reinforcing the company’s short-term liquidity resource...
Executive/Board Changes
Boeing Names New Principal Accounting Officer Shedd
Neutral
Aug 21, 2026
On August 19, 2026, Boeing’s board appointed Ryan L. Shedd as senior vice president and controller, and designated him as principal accounting officer, effective the first business day after the company files its 2026 Form 10-K. Shedd, 41, w...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.