Boeing (BA) AI Stock Analysis

• Market Cap: $183.02B
• Dividend Yield: N/A
• Average Volume (3M): 7.30M
• Price to Earnings (P/E): 123.2
• Beta (1Y): 1.37
• Revenue Growth: 10.19%
• EPS Growth: -6.03%
• Country: US
• Employees: 172,000
• Sector: Industrials
• Sector Strength: 72
• Industry: Aerospace & Defense
• EPS (TTM): 9.92
• Shares Outstanding: 783,071,200
• 10 Day Avg. Volume: 8,768,637
• 30 Day Avg. Volume: 7,304,655
• PEG Ratio: -0.65
• Price to Book (P/B): 30.35
• Price to Sales (P/S): 1.85
• P/FCF Ratio: -88.18
• Enterprise Value/Market Cap: 1.24
• Enterprise Value/Revenue: 2.53
• Enterprise Value/Gross Profit: 52.37
• Enterprise Value/Ebitda: 30.74
• 1Y Price Target: $268.69
• Price Target Upside: 14.96% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 15
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: $252.00 ▲(7.82% Upside)

The score is held back primarily by weak underlying financial quality (high leverage and volatile/negative free cash flow) and a demanding valuation (high P/E). Offsetting factors include strong technical momentum and an earnings-call-supported operational recovery plan with improving deliveries and backlog, though execution and certification/program risks remain significant.

Positive Factors

Record backlog and order momentum

A record backlog above $500B provides multi-year revenue visibility and shields near-term top-line from demand volatility. Large secured orders smooth production planning, support stable factory utilization and long-term cash flow potential if Boeing executes delivery schedules.

Production stabilization and productivity gains

Material operational improvements—simplified work instructions and sharp rework reductions—are durable drivers of margin recovery. Reduced rework and steadier production cadence lower unit costs, improve throughput on rate ramps, and support sustainable margin and cash conversion over the next several quarters.

Diversified services and defense strength

Strong defense and services order intake with healthy services margins diversifies revenue and cash generation away from commercial cyclicality. High-margin aftermarket and defense backlogs provide steadier recurring revenue and improve resilience in downturns versus single-segment exposure.

Negative Factors

Very high leverage

Extremely elevated leverage constrains financial flexibility and amplifies the impact of any operational slip-ups. With minimal equity relative to debt, interest and principal obligations limit capacity for capital investment or cushioning against program overruns, raising solvency sensitivity over the medium term.

Inconsistent free cash flow history

Volatile and historically negative free cash flow undermines sustained debt reduction and self-funded investment. Even with 2025 improvement, inconsistent cash conversion raises refinancing and liquidity risk during rate ramps, acquisitions, or certification delays that temporarily increase working capital needs.

Program certification and durability risks

Ongoing certification timing and identified durability issues (e.g., 777X) create structural execution risk. Delays raise pre-delivery spending, inventory and PDP cash use, and can prolong negative segment margins. These program-level risks can persistently pressure margins and cash over multiple years.

Boeing Business Overview & Revenue Model

Company Description

The 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.

How the Company Makes Money

Boeing generates revenue through several key streams. The Commercial Airplanes segment is a major source of income, primarily from the sale of commercial jetliners to airlines and leasing companies. Revenue is also derived from long-term service agreements and spare parts sales. The Defense, Space & Security segment contributes by providing military aircraft, satellite systems, and related services to government and military customers. Additionally, the Global Services segment focuses on providing maintenance, repair, and overhaul services, as well as supply chain and logistics support. Boeing has strategic partnerships with various governments and private sector companies, which bolster its revenue through contracts and collaborative projects. The company’s revenue is significantly influenced by global air travel demand, defense budgets, and advancements in aerospace technology.

Boeing Financial Statement Overview

Summary

Financials show a rebound in 2025 (revenue up to $89.5B and return to profitability), but the recovery remains fragile: the balance sheet is highly levered (debt ~$54.1B vs. equity ~$5.5B) and cash generation is still inconsistent (2025 FCF improved versus 2024 but remained a full-year usage of $1.9B, with volatility across years).

Income Statement

Results show a clear rebound in 2025: revenue rose to $89.5B (up 10.8% YoY) and profitability turned positive with a 2.1% net margin after a deep loss in 2024 (-17.8%). That said, profitability remains thin (gross margin ~4.8% in 2025) and the last several years show significant earnings volatility with multiple loss years, indicating the recovery is still fragile.

Balance Sheet

Leverage remains a key constraint: total debt is ~$54.1B against a small equity base of ~$5.5B in 2025, implying very high leverage (debt-to-equity ~9.9x). While equity has improved from negative levels in prior years, the balance sheet still looks stretched for a cyclical manufacturer, leaving less room for operational setbacks or slower-than-expected margin recovery.

Cash Flow

Cash generation is inconsistent. 2025 produced positive operating cash flow and free cash flow of ~$1.1B, a major improvement versus 2024’s large cash burn (operating cash flow -$12.1B; free cash flow -$14.4B). However, 2025 free cash flow declined sharply versus the prior year’s level shown in the dataset (free cash flow growth -122.2%), and the broader history includes multiple years of negative cash flow, highlighting ongoing execution and working-capital risk.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	89.46B	66.52B	77.79B	66.61B	62.29B
Gross Profit	4.29B	-1.96B	7.71B	3.46B	6.48B
EBITDA	7.36B	-7.65B	2.31B	-510.00M	-207.00M
Net Income	2.23B	-11.82B	-2.22B	-4.93B	-4.20B
Balance Sheet
Total Assets	168.24B	156.36B	137.01B	137.10B	138.55B
Cash, Cash Equivalents and Short-Term Investments	20.05B	26.28B	15.96B	17.22B	16.24B
Total Debt	54.10B	54.19B	52.60B	57.28B	58.37B
Total Liabilities	162.78B	160.28B	154.24B	152.95B	153.40B
Stockholders Equity	5.45B	-3.91B	-17.23B	-15.88B	-15.00B
Cash Flow
Free Cash Flow	-1.88B	-14.40B	4.43B	2.29B	-4.40B
Operating Cash Flow	1.06B	-12.08B	5.96B	3.51B	-3.42B
Investing Cash Flow	499.00M	-11.97B	-2.44B	4.37B	9.32B
Financing Cash Flow	-3.76B	25.21B	-5.49B	-1.27B	-5.60B

Boeing Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 233.72
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BA, the sentiment is Neutral. The current price of 233.72 is below the 20-day moving average (MA) of 240.16, above the 50-day MA of 216.91, and above the 200-day MA of 212.86, indicating a neutral trend. The MACD of 6.40 indicates Positive momentum. The RSI at 49.61 is Neutral, neither overbought nor oversold. The STOCH value of 14.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BA.

Boeing Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NOC	75 Outperform	$98.25B	23.91	26.17%	1.55%	-0.14%	72.35%
RTX	75 Outperform	$269.40B	40.30	10.74%	1.44%	8.79%	39.63%
GD	74 Outperform	$94.84B	22.65	17.66%	1.73%	11.86%	17.39%
LMT	74 Outperform	$145.92B	28.97	76.87%	2.77%	2.88%	-35.15%
GE	70 Outperform	$321.77B	36.75	45.24%	0.48%	-19.21%	31.83%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
BA	56 Neutral	$183.02B	123.19	289.13%	―	10.19%	-6.03%

Boeing Corporate Events

Boeing Completes Acquisition of Spirit AeroSystems

On December 8, 2025, Boeing completed its acquisition of Spirit AeroSystems, a move that underscores its commitment to aviation safety and airplane quality while enhancing commercial production and supply chain stability. The acquisition includes Spirit’s commercial operations related to Boeing, such as fuselages for various aircraft models, and expands Boeing’s global maintenance, repair, and overhaul services. Spirit Defense will remain an independent supplier to the defense industry, ensuring continuity and support for U.S. defense and space programs. This strategic acquisition is expected to strengthen Boeing’s industry positioning and create new opportunities for stakeholders, particularly in Wichita, Kansas, where Spirit’s operations will integrate into Boeing.

The most recent analyst rating on (BA) stock is a Buy with a $255.00 price target. To see the full list of analyst forecasts on Boeing stock, see the BA Stock Forecast page.

Boeing Appoints Bradley Tilden to Board of Directors

On December 1, 2025, Boeing announced the election of Bradley D. Tilden, former Chairman, President, and CEO of Alaska Air Group, to its Board of Directors, effective December 3, 2025. Tilden, who brings over three decades of aviation experience, will serve on the Aerospace Safety and Finance Committees. This appointment is part of Boeing’s ongoing board refreshment efforts, with Tilden being the 10th new director added since 2019, aimed at strengthening the board’s expertise in various critical areas such as safety management systems and financial oversight.

The most recent analyst rating on (BA) stock is a Buy with a $255.00 price target. To see the full list of analyst forecasts on Boeing stock, see the BA Stock Forecast page.