Boeing (BA)
NYSE:BA
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Boeing
(NYSE:BA)
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Rating:56Neutral
Price Target:
$214.00
▲(2.78% Upside)
Action:UpgradedDate:01/28/26
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 commercial backlog and order momentum
A record backlog worth ~$567B provides multi-year revenue visibility and underpins production planning and supplier commitments. That locked-in demand supports steady future delivery volumes, smoothing top-line risk and enabling capacity investments to translate into durable cash flow over several years if execution holds.
Negative Factors
Very high leverage versus equity base
Extremely elevated leverage constrains financial flexibility, raises refinancing and interest-service risk, and reduces buffer for execution slippage. For a cyclical, capital-intensive OEM, high debt amplifies downside in slower cycles and makes sustained free cash flow generation essential to de-risk the balance sheet over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Record commercial backlog and order momentum
A record backlog worth ~$567B provides multi-year revenue visibility and underpins production planning and supplier commitments. That locked-in demand supports steady future delivery volumes, smoothing top-line risk and enabling capacity investments to translate into durable cash flow over several years if execution holds.
Read all positive factors
Boeing (BA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$163.52B
Dividend YieldN/A
Average Volume (3M)7.14M
Price to Earnings (P/E)74.1
Beta (1Y)1.41
Revenue Growth10.19%
EPS Growth-6.03%
CountryUS
Employees172,000
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)9.92
Shares Outstanding785,347,100
10 Day Avg. Volume7,418,520
30 Day Avg. Volume7,141,088
Financial Highlights & Ratios
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 Cap1.27
Enterprise Value/Revenue2.31
Enterprise Value/Gross Profit47.94
Enterprise Value/Ebitda28.13
Forecast
1Y Price Target
$274.92Price Target Upside32.03% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering15
EPS Forecast (FY)0.54
Revenue Forecast (FY)$97.39B
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....
How the Company Makes Money
Boeing generates revenue primarily from (1) selling aircraft and aerospace/defense products and (2) providing lifecycle services tied to those platforms. Commercial Airplanes revenue comes largely from delivering commercial jetliners to airline an...
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 Earnings Call Summary
Earnings Call Date:Jan 27, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 22, 2026
Earnings Call Sentiment Positive
The call presented substantial evidence of operational recovery and commercial momentum — record backlogs, materially higher revenue (Q4 +57%, FY +34%), delivery improvements, program certification progress, and stronger services and defense order intake. However, notable near-term financial and program headwinds remain: a material KC-46 charge, continued certification timing risks (particularly 777X cash burn profile), negative segment margins despite improvement, excess advances/customer considerations, and near-term CapEx and integration impacts from the Spirit acquisition. Management outlined a clear plan to stabilize production, reduce rework, and target positive free cash flow of $1–3 billion in 2026 and a longer-term normalized goal around $10 billion, but execution risk remains centered on certification, supply-chain ramps, and program-level cost performance.Positive Updates
Quarterly Revenue Surge
Total company revenue of $23.9 billion in Q4, the highest quarterly total since 2018, up 57% year-over-year driven by higher commercial deliveries and defense volume.
Negative Updates
KC-46 Tanker Charge
BDS recorded a $565 million loss on the KC-46 tanker in the quarter driven by revised cost estimates for production support, supply chain and Everett facility allocations — a discrete, material charge that weighed on operating results.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly Revenue Surge
Total company revenue of $23.9 billion in Q4, the highest quarterly total since 2018, up 57% year-over-year driven by higher commercial deliveries and defense volume.
Read all positive updates
Company Guidance
Boeing guided to positive 2026 free cash flow of $1–3 billion (or “high single digits” on an adjusted basis excluding temporary impacts), with Q1 cash use similar to 2025, a first‑half use turning positive and accelerating in the second half; CapEx is expected to be ~ $4 billion in 2026 (vs. nearly $3 billion in 2025), cash and marketable securities were $29.4 billion, debt $54.1 billion, and the company retains $10 billion of undrawn revolvers. Operational and program guidance includes the 737 stabilizing at 42/mo (plan to rise to 47 this year and add a North Line above 47) with ~500 737 deliveries targeted in 2026 (447 in 2025), 787 deliveries of ~90–100 (88 in 2025) as rate‑8 stabilizes with a move to rate‑10 targeted later in the year, BCA delivered 160 aircraft in Q4 and 600 in 2025, BCA booked 336 net orders in Q4 and 1,173 for the year with backlog of $567 billion (6,100+ airplanes), 777X first delivery planned in 2027 (≈$3.5 billion 2025 inventory spend; net cash burn to turn positive by 2029), BDS revenue of $7.4 billion in Q4 (operating margin –6.8%) including a $565 million KC‑46 charge and backlog of $85 billion, and BGS adjusted revenue of $5.1 billion with an 18.6% adjusted margin and $30 billion backlog — all underpinned by productivity improvements (5,100+ simplified work instructions, ~30% reduction in 787 rework hours, ~20% Q4 factory rework reduction) to drive margin and cash recovery.Boeing Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
28
Negative
Cash Flow
34
Negative
| 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 | 29.40B | 26.28B | 15.96B | 17.22B | 16.24B |
| Total Debt | 54.43B | 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
Neutral
208.22
Price Trends
224.18
Negative
217.10
Negative
218.62
Negative
Market Momentum
-6.92
Negative
48.86
Neutral
83.84
Negative
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 208.22 is above the 20-day moving average (MA) of 205.62, below the 50-day MA of 224.18, and below the 200-day MA of 218.62, indicating a neutral trend. The MACD of -6.92 indicates Negative momentum. The RSI at 48.86 is Neutral, neither overbought nor oversold. The STOCH value of 83.84 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BA.
Boeing Risk Analysis
Boeing disclosed 24 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $99.70B | 19.57 | 26.50% | 1.55% | -0.14% | 72.35% | |
75 Outperform | $263.37B | 36.54 | 10.62% | 1.44% | 8.79% | 39.63% | |
74 Outperform | $94.39B | 21.58 | 17.57% | 1.73% | 11.86% | 17.39% | |
74 Outperform | $143.29B | 22.26 | 80.53% | 2.77% | 2.88% | -35.15% | |
70 Outperform | $294.88B | 37.76 | 45.88% | 0.48% | -19.21% | 31.83% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | $163.52B | 74.05 | -94.94% | ― | 10.19% | -6.03% |
* Industrials Sector Average
BA
Boeing
208.22
69.36
49.95%
GD
General Dynamics
349.09
106.10
43.66%
GE
GE Aerospace
281.16
114.34
68.54%
LMT
Lockheed Martin
622.79
203.43
48.51%
NOC
Northrop Grumman
702.50
228.55
48.22%
RTX
RTX
196.21
80.84
70.07%
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.