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BA

The Boeing Company

BA

The Boeing Company • NYSE
$189.03 ▲ 1.13% (+2.11)
Market Cap $142.26 B
52w High $242.69
52w Low $128.88
Dividend Yield 0%
P/E -13.8
Volume 3.69M
Outstanding Shares 752.57M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $23.27B ▲ $2.407B ▼ $-5.337B ▼ -22.935% ▼ $-7.14 ▼ $-4.014B ▼
Q2-2025 $22.749B ▲ $2.705B ▲ $-611M ▼ -2.686% ▼ $-0.92 ▼ $609M ▼
Q1-2025 $19.496B ▲ $1.948B ▼ $-37M ▲ -0.19% ▲ $-0.16 ▲ $1.25B ▲
Q4-2024 $15.243B ▼ $2.24B ▼ $-3.865B ▲ -25.356% ▲ $-5.45 ▲ $-2.829B ▲
Q3-2024 $17.84B $2.241B $-6.17B -34.585% $-9.97 $-5.052B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.173B ▼ $150.023B ▼ $158.276B ▼ $-8.25B ▼
Q2-2025 $22.967B ▼ $155.12B ▼ $158.416B ▼ $-3.295B ▲
Q1-2025 $23.674B ▼ $156.494B ▲ $159.819B ▼ $-3.325B ▲
Q4-2024 $26.282B ▲ $156.363B ▲ $160.277B ▼ $-3.908B ▲
Q3-2024 $10.47B $137.695B $161.257B $-23.552B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-5.339B ▼ $1.123B ▲ $-1.955B ▲ $-87M ▲ $-914M ▲ $1.797B ▲
Q2-2025 $-612M ▼ $227M ▲ $-2.229B ▼ $-387M ▼ $-2.367B ▲ $-200M ▲
Q1-2025 $-31M ▲ $-1.616B ▲ $-1.717B ▲ $-338M ▼ $-3.659B ▼ $-2.29B ▲
Q4-2024 $-3.877B ▲ $-3.45B ▼ $-12.626B ▼ $19.971B ▲ $3.84B ▲ $-4.098B ▼
Q3-2024 $-6.174B $-1.345B $679M $-300M $-933M $-1.956B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Boeing Defense Space Security Segment
Boeing Defense Space Security Segment
 $5.41Bn ▲$6.30Bn ▲$6.62Bn ▲$6.90Bn ▲
Commercial Airplanes Segment
Commercial Airplanes Segment
 $4.76Bn ▲$8.15Bn ▲$10.87Bn ▲$11.09Bn ▲
Global Services
Global Services
 $5.12Bn ▲$5.06Bn ▼$5.28Bn ▲$5.37Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Boeing’s income statement still reflects a company in recovery rather than one in full health. Sales have climbed back from the pandemic lows, but profit quality has been very uneven. Gross margins have swung sharply, and the latest year shows a return to losses at the operating level after a brief improvement. Net income has been negative every single year in this five‑year window, with especially deep losses at both the start and end of the period. This points to continued cost overruns, abnormal charges, and lingering operational issues in key programs rather than a stable, mature earnings base.

Balance Sheet

Balance Sheet The balance sheet shows a large, complex industrial company carrying a heavy financial load. Total assets are sizable and relatively steady, but debt is elevated and only slowly edging down. Shareholders’ equity is negative across all five years, which means accumulated losses and write‑downs have more than offset past capital raised and retained earnings. This negative equity profile is a clear sign that the financial cushion has been eroded; Boeing still has meaningful asset backing and franchise value, but the formal capital structure is strained and leaves less room for further shocks.

Cash Flow

Cash Flow Cash flow tells a similar story of volatility and stress. Operating cash was deeply negative during the height of Boeing’s crises, improved meaningfully in the middle of the period, then swung back to a sizable outflow in the most recent year. Free cash flow followed the same path: severe cash burn, then a couple of years of repair, then another setback. Capital spending itself is modest relative to the size of the company, so the cash pressures are coming mainly from operations, not from over‑investment. This pattern underlines execution problems on existing programs rather than an aggressive expansion cycle.

Competitive Edge

Competitive Edge Competitively, Boeing still sits in a privileged position. The commercial jet market remains a de facto duopoly with Airbus, protected by very high barriers to entry in technology, regulation, and capital requirements. Boeing also benefits from long relationships with airlines, governments, and defense customers, plus a large installed fleet that supports its services business. However, repeated safety and quality issues have damaged its reputation and given Airbus room to gain share in some segments. The defense and space businesses help diversify risk, but regulatory scrutiny, customer trust, and program execution are now central to how durable this competitive position remains.

Innovation and R&D

Innovation and R&D Innovation is one of Boeing’s core strengths, even if financial results have recently overshadowed it. The company remains at the forefront of advanced materials, fuel‑efficient aircraft design, and digital tools that connect design, production, and in‑service support. Its work on more efficient wings, sustainable aviation fuels, and autonomous systems positions it for long‑term shifts in how people and cargo move. In space, involvement in major NASA programs underscores deep technical capability. The main question is less about technical potential and more about disciplined execution: turning ambitious R&D and sophisticated manufacturing into safe, reliable, and profitable products without recurring setbacks.

Summary

Overall, Boeing looks like a strategically important franchise with strained financials and elevated execution risk. The company enjoys a rare market position, a deep technological base, and diversified exposure across commercial aviation, defense, services, and space. At the same time, the last five years show persistent losses, negative equity, uneven cash generation, and repeated operational disruptions. The long‑term opportunity is tied to global air travel growth, fleet renewal, defense spending, and new aerospace frontiers. The key uncertainties are whether Boeing can consistently stabilize production, rebuild trust with regulators and customers, manage its debt load, and convert its strong innovation pipeline into steady, high‑quality earnings and cash flow.

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