BA Industrials

The Boeing Company

$173.31-1.19%

Price as of close on Nov 3, 2026 · Financials updated Oct 6, 2026

Basics

Sector: Industrials
Industry: Aerospace & Defense
Country: United States
Market cap: 137.0B USD
Enterprise value: 176.2B USD
Full-time employees: 182,000

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.26 vs a peer median of 0.64), less short-term liquidity (current ratio 1.14 vs a peer median of 1.62) and more debt relative to equity (7.52× vs a peer median of 0.40×)higher risk: bigger price swings (beta 1.26 vs peers 0.64), less liquidity (current ratio 1.14 vs peers 1.62) and more debt vs equity (7.52× vs peers 0.40×)

Ranks #1,681 of 2,308 industrials companies (bottom 28%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
Boeing reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Profit lifted by an asset sale. 2025 operating profit includes a $9.7B gain on selling assets; without it the operating margin was about -6.0%.
Boeing's 2025 operating profit of $4.3B includes a one-off $9.7B gain on selling assets or businesses. Without it, operations would have earned -$5.4B, an operating margin of about -6.0%.
Much more borrowing than peers. Debt is 7.5× equity vs a peer median of 0.4×.Debt is 7.5× equity vs peers 0.4×.
Debt is 7.5× shareholders' equity, against a peer median of 0.4×, among the highest 10% of its peer group.Debt is 7.5× shareholders' equity, vs peers 0.4×, among the highest 10% of its peer group.
Earnings turned from a loss to a profit. Profit per share this year after a loss last year.
Boeing made a profit per share in its latest year after a loss the year before.

StockQuotient Score

39/ 100

Oct 5 39 → Nov 4 39

Valuation

Is the price right?

26/100

Weak▼ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 27 → 26

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ FCF yield
▼ EBITDA yield
▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.8%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.68Sector median: 0.0377 · MAD: 0.0294

EBITDA yield4.2%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.65Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield-0.2%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield4.5%

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

91/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Revenue growth
▲ EPS growth
▲ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a loss to a profit33% base weight · Z-score 3.41Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth8.5%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.68Sector median: 0.0421 · MAD: 0.0625

Revenue growth24.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.66Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

35/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROA
▼ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin4.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.56Sector median: 0.0773 · MAD: 0.0507

Return on assets1.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.68Sector median: 0.0311 · MAD: 0.0241

Return on invested capital8.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.17Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin4.7%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity39.9%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity
▼ Beta
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.26

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.23Sector median: 0.6440 · MAD: 0.2745

Current ratio1.14×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.90Sector median: 1.6180 · MAD: 0.5360

Debt / equity7.52×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score -6.37Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Boeing

Is Boeing getting weaker?: Its latest SEC filing (Jul 28, 2026) showed no major changes. Its overall score is unchanged at 39/100 since Oct 28, 2026.
How is Boeing valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 26/100 against 2,459 industrials peers. Free cash flow yield -0.2% vs a peer median of 3.7% (weaker than 100% of peers).Free cash flow yield -0.2% vs peers 3.7% (weaker than 100% of peers).
Is Boeing growing?: Yes, faster than most of its peers. Growth scores 91/100 against 2,459 industrials peers. Revenue growth 24.8% vs a peer median of 4.4% (stronger than 90% of peers).Revenue growth 24.8% vs peers 4.4% (stronger than 90% of peers).
How profitable is Boeing?: Less profitable than most of its peers. Profitability scores 35/100 against 2,459 industrials peers. Return on assets 1.5% vs a peer median of 3.1% (weaker than 68% of peers).Return on assets 1.5% vs peers 3.1% (weaker than 68% of peers).
How risky is Boeing?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity 7.52× vs a peer median of 0.40× (weaker than 100% of peers).Debt / equity 7.52× vs peers 0.40× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 28, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	92.2B USD	94.0B USD	+2.0%
Net income (12 months)	2.3B USD	2.4B USD	+7.4%
Operating margin	4.6%	4.9%	+0.3 pts
Free cash flow (12 months)	−1.0B USD	−210.0M USD	−79.8%
Debt	47.2B USD	45.9B USD	−2.8%
Cash	9.4B USD	7.2B USD	−23.3%
Shares outstanding	788.3M	790.4M	+0.3%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Aerospace & Defense · 48 companies

Valuations in Aerospace & Defense are near the top of their range since 2016.

88% of months since 2016 were valued lower than now.
50% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +71% and earnings +71% (medians): prices and earnings moved broadly together.
Median price-to-sales is +41% vs the whole market, against a usual −16%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	4.9%	5.3%	9.9%	-3.0%	4.8%	▲ 7.8 pts
Operating margin	-4.6%	-5.3%	-1.0%	-16.1%	4.8%	▲ 21 pts
Net margin	-6.7%	-7.4%	-2.9%	-17.8%	2.5%	▲ 20 pts
Return on assets (ROA)	-3.0%	-3.6%	-1.6%	-7.6%	1.3%	▲ 8.9 pts
Return on equity (ROE)	—	—	—	—	41.0%	—
Free cash flow margin	-7.1%	3.4%	5.7%	-21.5%	-2.1%	▲ 19 pts
Current ratio	1.33×	1.22×	1.14×	1.32×	1.19×	▼ 9.9%
Debt to equity	—	—	—	—	9.92×	—

BA price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.26 vs a peer median of 0.64), less short-term liquidity (current ratio 1.14 vs a peer median of 1.62) and more debt relative to equity (7.52× vs a peer median of 0.40×)higher risk: bigger price swings (beta 1.26 vs peers 0.64), less liquidity (current ratio 1.14 vs peers 1.62) and more debt vs equity (7.52× vs peers 0.40×)

Ranks #1,681 of 2,308 industrials companies (bottom 28%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

Boeing reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Profit lifted by an asset sale. 2025 operating profit includes a $9.7B gain on selling assets; without it the operating margin was about -6.0%.

Boeing's 2025 operating profit of $4.3B includes a one-off $9.7B gain on selling assets or businesses. Without it, operations would have earned -$5.4B, an operating margin of about -6.0%.

Much more borrowing than peers. Debt is 7.5× equity vs a peer median of 0.4×.Debt is 7.5× equity vs peers 0.4×.

Debt is 7.5× shareholders' equity, against a peer median of 0.4×, among the highest 10% of its peer group.Debt is 7.5× shareholders' equity, vs peers 0.4×, among the highest 10% of its peer group.

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.

Boeing made a profit per share in its latest year after a loss the year before.

Questions investors ask about Boeing

Is Boeing getting weaker?

Its latest SEC filing (Jul 28, 2026) showed no major changes. Its overall score is unchanged at 39/100 since Oct 28, 2026.

How is Boeing valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 26/100 against 2,459 industrials peers. Free cash flow yield -0.2% vs a peer median of 3.7% (weaker than 100% of peers).Free cash flow yield -0.2% vs peers 3.7% (weaker than 100% of peers).

Is Boeing growing?

Yes, faster than most of its peers. Growth scores 91/100 against 2,459 industrials peers. Revenue growth 24.8% vs a peer median of 4.4% (stronger than 90% of peers).Revenue growth 24.8% vs peers 4.4% (stronger than 90% of peers).

How profitable is Boeing?

Less profitable than most of its peers. Profitability scores 35/100 against 2,459 industrials peers. Return on assets 1.5% vs a peer median of 3.1% (weaker than 68% of peers).Return on assets 1.5% vs peers 3.1% (weaker than 68% of peers).

How risky is Boeing?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity 7.52× vs a peer median of 0.40× (weaker than 100% of peers).Debt / equity 7.52× vs peers 0.40× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

92.2B USD

94.0B USD

+2.0%

Net income (12 months)

2.3B USD

2.4B USD

+7.4%

Operating margin

4.6%

4.9%

+0.3 pts

Free cash flow (12 months)

−1.0B USD

−210.0M USD

−79.8%

Debt

47.2B USD

45.9B USD

−2.8%

Cash

9.4B USD

7.2B USD

−23.3%

Shares outstanding

788.3M

790.4M

+0.3%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

4.9%

5.3%

9.9%

-3.0%

4.8%

▲ 7.8 pts

Operating margin

-4.6%

-5.3%

-1.0%

-16.1%

4.8%

▲ 21 pts

Net margin

-6.7%

-7.4%

-2.9%

-17.8%

2.5%

▲ 20 pts

Return on assets (ROA)

-3.0%

-3.6%

-1.6%

-7.6%

1.3%

▲ 8.9 pts

Return on equity (ROE)

—

41.0%

—

Free cash flow margin

-7.1%

3.4%

5.7%

-21.5%

-2.1%

▲ 19 pts

Current ratio

1.33×

1.22×

1.14×

1.32×

1.19×

▼ 9.9%

Debt to equity

—

9.92×

—