Boeing (BA)
Market Price (8/21/2026): $215.64 | Market Cap: $170.5 BilInvestor Relations Sector: Industrials | Industry: Aerospace & Defense
Boeing (BA)
Market Price (8/21/2026): $215.64Market Cap: $170.5 BilSector: IndustrialsIndustry: Aerospace & Defense
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 25% Attractive cash flow generationCFO LTM is 3.6 Bil Low stock price volatilityVol 12M is 34% Megatrend and thematic driversMegatrends include Advanced Aviation & Space, Automation & Robotics, and Hydrogen Economy. Themes include Commercial Space Exploration, Show more. | Weak multi-year price returns2Y Excs Rtn is -16%, 3Y Excs Rtn is -80% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -5.1 Bil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -5.4% Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 47x, P/EPrice/Earnings or Price/(Net Income) is 70x Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.9% Key risksBA key risks include [1] persistent quality control failures triggering intense regulatory scrutiny and production caps, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 25% |
| Attractive cash flow generationCFO LTM is 3.6 Bil |
| Low stock price volatilityVol 12M is 34% |
| Megatrend and thematic driversMegatrends include Advanced Aviation & Space, Automation & Robotics, and Hydrogen Economy. Themes include Commercial Space Exploration, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -16%, 3Y Excs Rtn is -80% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -5.1 Bil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -5.4% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 47x, P/EPrice/Earnings or Price/(Net Income) is 70x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.9% |
| Key risksBA key risks include [1] persistent quality control failures triggering intense regulatory scrutiny and production caps, Show more. |
Qualitative Assessment
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Updated on 8/20/2026
Boeing (BA) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Boeing reported a significant miss on its fiscal Q2 2026 earnings. The company announced its Q2 2026 results on July 28, 2026, reporting a GAAP loss per share of ($0.67) and a core loss per share (non-GAAP) of ($0.76). This figure notably missed the consensus analyst estimate of a ($0.34) loss per share by $0.42.
2. Persistent production and quality control issues continued to plague the 737 MAX program. In August 2026, new quality concerns emerged as the Federal Aviation Administration (FAA) proposed mandatory inspections for 453 U.S.-registered Boeing 737 MAX aircraft due to reports of incorrectly installed passenger seat mountings. This followed earlier temporary slowdowns in 737 MAX deliveries in March 2026 due attributed to a wiring manufacturing issue. While the FAA had removed a fixed production cap for the 737 MAX earlier in 2026, consistent production rates for the 737 MAX have been settling around 38 aircraft per month, below the targeted rate of 42.
Show more
Boeing (BA) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Boeing reported a significant miss on its fiscal Q2 2026 earnings. The company announced its Q2 2026 results on July 28, 2026, reporting a GAAP loss per share of ($0.67) and a core loss per share (non-GAAP) of ($0.76). This figure notably missed the consensus analyst estimate of a ($0.34) loss per share by $0.42.
2. Persistent production and quality control issues continued to plague the 737 MAX program. In August 2026, new quality concerns emerged as the Federal Aviation Administration (FAA) proposed mandatory inspections for 453 U.S.-registered Boeing 737 MAX aircraft due to reports of incorrectly installed passenger seat mountings. This followed earlier temporary slowdowns in 737 MAX deliveries in March 2026 due attributed to a wiring manufacturing issue. While the FAA had removed a fixed production cap for the 737 MAX earlier in 2026, consistent production rates for the 737 MAX have been settling around 38 aircraft per month, below the targeted rate of 42.
Show more
Updated on 8/20/2026
Boeing (BA) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Boeing reported a significant miss on its fiscal Q2 2026 earnings. The company announced its Q2 2026 results on July 28, 2026, reporting a GAAP loss per share of ($0.67) and a core loss per share (non-GAAP) of ($0.76). This figure notably missed the consensus analyst estimate of a ($0.34) loss per share by $0.42.
2. Persistent production and quality control issues continued to plague the 737 MAX program. In August 2026, new quality concerns emerged as the Federal Aviation Administration (FAA) proposed mandatory inspections for 453 U.S.-registered Boeing 737 MAX aircraft due to reports of incorrectly installed passenger seat mountings. This followed earlier temporary slowdowns in 737 MAX deliveries in March 2026 due attributed to a wiring manufacturing issue. While the FAA had removed a fixed production cap for the 737 MAX earlier in 2026, consistent production rates for the 737 MAX have been settling around 38 aircraft per month, below the targeted rate of 42.
3. Boeing continued to trail its main competitor, Airbus, in commercial aircraft deliveries. The company consistently lagged behind Airbus in total commercial aircraft handed over to customers during the period. By the end of May 2026, Airbus held a lead of 12 aircraft over Boeing, which expanded to 37 by the end of June 2026, and further to 51 aircraft by the end of July 2026.
4. The VC-25B (Air Force One) program experienced ongoing delays and increased costs. The program to build new Air Force One jets continued to face setbacks, pushing the delivery deadline to 2028. Further cost overruns were announced within this period, including a $125 million package in May 2026 and an additional $75 million award in August 2026, specifically for an initial stockpile of spare parts for the aircraft.
Show less
Boeing (BA) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Boeing reported a significant miss on its fiscal Q2 2026 earnings. The company announced its Q2 2026 results on July 28, 2026, reporting a GAAP loss per share of ($0.67) and a core loss per share (non-GAAP) of ($0.76). This figure notably missed the consensus analyst estimate of a ($0.34) loss per share by $0.42.
2. Persistent production and quality control issues continued to plague the 737 MAX program. In August 2026, new quality concerns emerged as the Federal Aviation Administration (FAA) proposed mandatory inspections for 453 U.S.-registered Boeing 737 MAX aircraft due to reports of incorrectly installed passenger seat mountings. This followed earlier temporary slowdowns in 737 MAX deliveries in March 2026 due attributed to a wiring manufacturing issue. While the FAA had removed a fixed production cap for the 737 MAX earlier in 2026, consistent production rates for the 737 MAX have been settling around 38 aircraft per month, below the targeted rate of 42.
3. Boeing continued to trail its main competitor, Airbus, in commercial aircraft deliveries. The company consistently lagged behind Airbus in total commercial aircraft handed over to customers during the period. By the end of May 2026, Airbus held a lead of 12 aircraft over Boeing, which expanded to 37 by the end of June 2026, and further to 51 aircraft by the end of July 2026.
4. The VC-25B (Air Force One) program experienced ongoing delays and increased costs. The program to build new Air Force One jets continued to face setbacks, pushing the delivery deadline to 2028. Further cost overruns were announced within this period, including a $125 million package in May 2026 and an additional $75 million award in August 2026, specifically for an initial stockpile of spare parts for the aircraft.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -6.1% change in BA stock from 4/30/2026 to 8/20/2026 was primarily driven by a -12.2% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 8202026 | Change |
|---|---|---|---|
| Stock Price ($) | 229.03 | 215.10 | -6.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 92,184 | 93,995 | 2.0% |
| Net Income Margin (%) | 2.5% | 2.6% | 5.3% |
| P/E Multiple | 79.6 | 69.8 | -12.2% |
| Shares Outstanding (Mil) | 788 | 791 | -0.3% |
| Cumulative Contribution | -6.1% |
Market Drivers
4/30/2026 to 8/20/2026| Return | Correlation | |
|---|---|---|
| BA | -6.1% | |
| Market (SPY) | 6.1% | 52.5% |
| Sector (XLI) | 3.0% | 51.7% |
Fundamental Drivers
The -8.0% change in BA stock from 1/31/2026 to 8/20/2026 was primarily driven by a -13.1% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 8202026 | Change |
|---|---|---|---|
| Stock Price ($) | 233.72 | 215.10 | -8.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 89,463 | 93,995 | 5.1% |
| Net Income Margin (%) | 2.5% | 2.6% | 3.7% |
| P/E Multiple | 80.4 | 69.8 | -13.1% |
| Shares Outstanding (Mil) | 768 | 791 | -2.8% |
| Cumulative Contribution | -8.0% |
Market Drivers
1/31/2026 to 8/20/2026| Return | Correlation | |
|---|---|---|
| BA | -8.0% | |
| Market (SPY) | 10.5% | 53.0% |
| Sector (XLI) | 9.0% | 56.2% |
Fundamental Drivers
The -3.0% change in BA stock from 7/31/2025 to 8/20/2026 was primarily driven by a -18.8% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 8202026 | Change |
|---|---|---|---|
| Stock Price ($) | 221.84 | 215.10 | -3.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 75,327 | 93,995 | 24.8% |
| P/S Multiple | 2.2 | 1.8 | -18.8% |
| Shares Outstanding (Mil) | 757 | 791 | -4.3% |
| Cumulative Contribution | -3.0% |
Market Drivers
7/31/2025 to 8/20/2026| Return | Correlation | |
|---|---|---|
| BA | -3.0% | |
| Market (SPY) | 21.7% | 45.2% |
| Sector (XLI) | 19.5% | 49.7% |
Fundamental Drivers
The -9.9% change in BA stock from 7/31/2023 to 8/20/2026 was primarily driven by a -23.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 7312023 | 8202026 | Change |
|---|---|---|---|
| Stock Price ($) | 238.85 | 215.10 | -9.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 73,608 | 93,995 | 27.7% |
| P/S Multiple | 2.0 | 1.8 | -7.9% |
| Shares Outstanding (Mil) | 606 | 791 | -23.4% |
| Cumulative Contribution | -9.9% |
Market Drivers
7/31/2023 to 8/20/2026| Return | Correlation | |
|---|---|---|
| BA | -9.9% | |
| Market (SPY) | 72.5% | 48.0% |
| Sector (XLI) | 69.6% | 51.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BA Return | -6% | -5% | 37% | -32% | 23% | 2% | 4% |
| Peers Return | 22% | 23% | 14% | 24% | 41% | 16% | 247% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| BA Win Rate | 42% | 58% | 50% | 42% | 50% | 50% | |
| Peers Win Rate | 53% | 60% | 53% | 62% | 65% | 65% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| BA Max Drawdown | -30% | -49% | -26% | -47% | -27% | -25% | |
| Peers Max Drawdown | -15% | -21% | -20% | -16% | -16% | -23% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: RTX, LMT, NOC, GD, GE. See BA Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/20/2026 (YTD)
How Low Can It Go
| Event | BA | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -26.6% | -18.8% |
| % Gain to Breakeven | 36.3% | 23.1% |
| Time to Breakeven | 31 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -11.2% | -7.8% |
| % Gain to Breakeven | 12.6% | 8.5% |
| Time to Breakeven | 183 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -17.0% | -9.5% |
| % Gain to Breakeven | 20.5% | 10.5% |
| Time to Breakeven | 26 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -44.3% | -24.5% |
| % Gain to Breakeven | 79.4% | 32.4% |
| Time to Breakeven | 207 days | 427 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -24.7% | -19.2% |
| % Gain to Breakeven | 32.7% | 23.8% |
| Time to Breakeven | 42 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -23.8% | -12.2% |
| % Gain to Breakeven | 31.2% | 13.9% |
| Time to Breakeven | 258 days | 62 days |
In The Past
Boeing's stock fell -26.6% during the 2025 US Tariff Shock. Such a loss loss requires a 36.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | BA | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -26.6% | -18.8% |
| % Gain to Breakeven | 36.3% | 23.1% |
| Time to Breakeven | 31 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -44.3% | -24.5% |
| % Gain to Breakeven | 79.4% | 32.4% |
| Time to Breakeven | 207 days | 427 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -24.7% | -19.2% |
| % Gain to Breakeven | 32.7% | 23.8% |
| Time to Breakeven | 42 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -23.8% | -12.2% |
| % Gain to Breakeven | 31.2% | 13.9% |
| Time to Breakeven | 258 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -20.5% | -17.9% |
| % Gain to Breakeven | 25.7% | 21.8% |
| Time to Breakeven | 121 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -66.3% | -53.4% |
| % Gain to Breakeven | 196.5% | 114.4% |
| Time to Breakeven | 1463 days | 1085 days |
In The Past
Boeing's stock fell -26.6% during the 2025 US Tariff Shock. Such a loss loss requires a 36.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Boeing (BA)
Boeing (BA) is a global aerospace company that designs, manufactures, and services a wide range of products, including commercial jetliners, military aircraft, satellites, and various defense and space systems. Operating worldwide, the company serves as a crucial supplier to both commercial airlines and government defense organizations, playing a significant role in global air travel, national security, and space exploration.
The company's core business is structured around its Commercial Airplanes and Defense, Space & Security segments. The Commercial Airplanes segment produces diverse jet aircraft for passenger and cargo transport, providing new planes and fleet support services to airlines globally. The Defense, Space & Security segment focuses on developing and manufacturing manned and unmanned military aircraft, advanced weapon systems, strategic missile defense systems, intelligence solutions, and both government and commercial satellites.
Beyond manufacturing, Boeing offers comprehensive aftermarket support through its Global Services segment, which provides supply chain management, maintenance, modifications, spare parts, and training services to both commercial and defense customers. Additionally, the Boeing Capital segment offers financing solutions to facilitate the sale of its aerospace products.
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- Essentially, **Airbus** meets **Lockheed Martin**.
- **Tesla for airplanes and space technology.**
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- Commercial Jet Aircraft: Designs, manufactures, and sells commercial airplanes for passenger and cargo transport.
- Military Aircraft & Weapons Systems: Produces manned and unmanned military aircraft and various weapons systems.
- Defense & Intelligence Systems: Develops strategic missile defense, command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR), and cyber solutions.
- Satellite & Space Systems: Provides government and commercial satellites and systems for space exploration.
- Global Services: Offers a broad range of support including supply chain management, maintenance, upgrades, spare parts, and training for both commercial and defense customers.
- Financing Services (Boeing Capital): Provides financing solutions, primarily for the acquisition and leasing of its aerospace products.
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Boeing (BA) primarily sells to other companies and governmental entities, not individuals. Its major customers can be categorized as follows:
-
Commercial Airlines and Cargo Operators: These companies purchase commercial jet aircraft (such as the 737, 747, 767, 777, and 787 families) and related services, including fleet support, maintenance, and spare parts. Major public company customers in this category include:
- American Airlines Group Inc. (AAL)
- Delta Air Lines, Inc. (DAL)
- United Airlines Holdings, Inc. (UAL)
- Southwest Airlines Co. (LUV)
- FedEx Corporation (FDX)
- United Parcel Service, Inc. (UPS)
-
National Governments and Defense Agencies: These entities are customers of Boeing's Defense, Space & Security segment and Global Services segment, purchasing military aircraft (manned and unmanned), weapons systems, strategic defense and intelligence systems, satellites, and related services, including modifications and maintenance. Examples include the U.S. Department of Defense, NASA, and various international militaries and space agencies.
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- Spirit AeroSystems Holdings, Inc. (SPR)
- General Electric Company (GE)
- Raytheon Technologies Corporation (RTX)
- Safran S.A. (SAF.PA)
- Honeywell International Inc. (HON)
- Rolls-Royce plc (RR.L)
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Kelly Ortberg, President and Chief Executive Officer
Kelly Ortberg became President and Chief Executive Officer of Boeing in August 2024, bringing over 35 years of aerospace experience to the company. He began his career in 1983 as an engineer at Texas Instruments. Ortberg spent over three decades at Rockwell Collins, Inc., starting as a program manager and eventually becoming its President and Chief Executive Officer in 2013, and Chairman from 2015 to 2018. Rockwell Collins was acquired by United Technologies (UTC) in 2018, and Ortberg then served as CEO of the newly formed Collins Aerospace company from December 2018 to February 2020. Following this, he was a special advisor to the office of the chief executive officer for RTX Corporation until March 2021. He also serves on the board of Aptiv PLC and the Aerospace Industries Association's Executive Committee.
Jesus "Jay" Malave, Executive Vice President and Chief Financial Officer
Jesus "Jay" Malave was appointed Executive Vice President and Chief Financial Officer of Boeing, effective August 15, 2025. Prior to joining Boeing, he served as the Chief Financial Officer of Lockheed Martin. Before that, he was the Senior Vice President and CFO at L3Harris Technologies. Malave also spent over two decades at United Technologies Corporation, holding key leadership roles including Vice President and CFO of Carrier Corporation (then part of UTC) and Vice President and CFO at UTC Aerospace Systems.
Stephanie Pope, Executive Vice President, President and Chief Executive Officer, Boeing Commercial Airplanes
Stephanie Pope leads Boeing Commercial Airplanes, focusing on safety, quality, and customer commitments, and is a champion of talent development and gender diversity. She previously served as Chief Operating Officer of Boeing, overseeing critical operational functions such as supply chain, quality, manufacturing, and engineering.
Chris Raymond, Executive Vice President, President and Chief Executive Officer, Boeing Global Services
Chris Raymond heads Boeing Global Services, providing fleet sustainment, digital capabilities, and engineering services to commercial and government customers. With over 30 years of experience at Boeing, he previously served as the company's Chief Sustainability Officer since October 2020, and prior to that, was Vice President of Sustainability, Strategy and Corporate Development. His extensive career at Boeing includes diverse roles across engineering, supply chain, strategy, sales, and operations.
Stephen (Steve) Parker, Executive Vice President, President and Chief Executive Officer, Boeing Defense, Space & Security
Steve Parker was named Executive Vice President and President and Chief Executive Officer of Boeing Defense, Space & Security (BDS) in July 2025, having served as interim leader of the unit since September 2024. With over three decades of service at Boeing, Parker oversees the design, development, production, and delivery of technology, products, and solutions for defense, government, space, and intelligence customers worldwide. His previous roles include BDS Chief Operating Officer, Vice President and Program Manager for key programs such as the T-7A Advanced Pilot Training program, the F-15 Eagle, and the H-47 Chinook. He also served as Chief Operating Officer of Boeing Defence Australia and led the Bombers & Fighters and Vertical Lift divisions.
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The Boeing Company (BA) faces several key risks to its business operations and financial performance.
The most significant risk stems from ongoing **manufacturing and quality control issues** across its aircraft programs. Boeing has experienced a series of production problems, including improperly drilled holes in aft pressure bulkheads, loose bolts in rudder control systems, and incidents like the door plug ejection on Alaska Airlines Flight 1282. Most recently, the company identified wiring damage on a number of undelivered 737 MAX jets, leading to temporary delivery halts and requiring extensive rework. These recurring quality deficiencies have resulted in production delays, increased regulatory scrutiny from the Federal Aviation Administration (FAA), and have impacted customer confidence.
Secondly, **geopolitical risks and U.S.-China tensions** pose a considerable threat. Boeing's senior vice-president has highlighted geopolitics as the "biggest risk" for the aviation industry, with long-term conflicts potentially hitting demand. Specifically, U.S.-China trade relations, including existing tariffs, create challenges for Boeing's operations and aircraft deliveries within the critical Chinese market. Furthermore, the rise of Chinese domestic aircraft manufacturers like COMAC, backed by government funding, represents increasing competition and a potential loss of market share for Boeing in the region and globally.
Finally, Boeing's **financial health and significant debt load** present a notable risk. The company has been described as having a mixed financial picture, with a substantial debt load and an Altman Z-Score indicating potential financial instability. While Boeing has a large order backlog, its profitability has faced challenges, and it has experienced periods of negative free cash flow, limiting its financial flexibility and ability to return capital to investors. These financial pressures are often exacerbated by the costs associated with addressing quality control issues and production delays.
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The emergence of SpaceX as a dominant player in reusable launch systems and satellite internet constellations poses a significant threat to Boeing's traditional space and launch systems business within its Defense, Space & Security segment. SpaceX's innovative technologies and business model challenge the established aerospace industry's approach to space launch and satellite services.
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The addressable markets for Boeing's main products and services are significant globally:
-
Commercial Airplanes:
- The global commercial aerospace market size was valued at USD 960.07 billion in 2025 and is projected to reach USD 1,812.96 billion by 2034.
- The global commercial aircraft manufacturing market size was calculated at USD 416.03 billion in 2025 and is predicted to increase to approximately USD 668.05 billion by 2035.
-
Defense, Space & Security:
- The global military aircraft market size was valued at USD 46.06 billion in 2024 and is expected to grow to USD 59.57 billion by 2033. Another estimate for the global military aircraft market size in 2024 was USD 48.3 billion, poised to grow to USD 73.02 billion by 2033.
- The global missile defense system market was valued at USD 31.5 billion in 2024 and is projected to reach USD 54.2 billion by 2033.
- The global satellite market size was estimated at USD 362.28 billion in 2025 and is predicted to increase to approximately USD 780.24 billion by 2035.
- The global space exploration market is valued at USD 564.6 billion, driven by governmental and private investments. It was valued at USD 496 billion in 2023 and is expected to expand to USD 1,895 billion by the end of 2033.
-
Global Services:
- The global aerospace and defense MRO (Maintenance, Repair, and Overhaul) market size was estimated at USD 135.7 billion in 2024 and is projected to reach USD 187.3 billion by 2030.
- The global pilot training market size accounted for USD 9.41 billion in 2024 and is predicted to increase to approximately USD 31.38 billion by 2034. The global civil aviation flight training and simulation market is valued at USD 9.8 billion.
-
Boeing Capital:
- The global commercial aircraft finance market size is calculated at USD 101.42 billion in 2025 and is anticipated to reach around USD 317.70 billion by 2035. The global aircraft leasing market size was valued at USD 192.45 billion in 2024.
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The Boeing Company (BA) is anticipated to drive future revenue growth over the next two to three years through several key areas:
- Increased Commercial Airplane Production and Deliveries: Boeing expects higher commercial deliveries for its 737 and 787 programs. In 2025, the company delivered 600 commercial airplanes, the highest annual total since 2018, and increased its 737 production rate to 42 aircraft per month, with the 787 transitioning to eight per month. This ramp-up in production and deliveries is a primary contributor to revenue growth, supported by a significant backlog of over 6,100 commercial airplanes valued at approximately $567 billion to $700 billion.
- Growth in Global Services Segment: The Global Services (BGS) segment continues to demonstrate strong performance, with adjusted revenue growing 6% in the fourth quarter of 2025. This segment recorded annual orders of $28 billion and a backlog reaching $30 billion, with both its commercial and government businesses achieving double-digit margins.
- Robust Backlog and Improved Performance in Defense, Space & Security: The Defense, Space & Security (BDS) segment reported a 37% increase in revenue in the fourth quarter of 2025. It secured $15 billion in orders during the quarter, leading to a record backlog of $85 billion. This substantial backlog and improved operational performance position the segment for sustained future revenue.
- Certification and Deliveries of New Aircraft Programs: The anticipated certification of the 737-10 narrowbody jet, expected later in 2026, along with the progressing certification of the 777X program, will contribute new revenue streams as these aircraft move into production and delivery.
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Share Repurchases
- Boeing suspended its share buyback program in March 2020, following a request for a bailout and continued financial challenges. As a result, there have been no significant share repurchases as a capital allocation strategy in the last 3-5 years.
Share Issuance
- In October 2024, Boeing planned a capital raise exceeding $15 billion to bolster its liquidity.
- The company subsequently raised approximately $21 billion through an upsized share sale, which included the issuance of 112.5 million common shares and $5 billion in depositary shares.
- The net proceeds from this offering, totaling about $20.72 billion (approximately $15.81 billion from common stock and $4.91 billion from depositary shares), were earmarked for general corporate purposes, including debt repayment, working capital, and capital expenditures.
Outbound Investments
- In the fourth quarter of 2025, Boeing made a strategic acquisition of Spirit AeroSystems, aiming to enhance production stability and quality control within its operations.
Capital Expenditures
- Boeing's capital expenditures have shown an increasing trend from 2021 to 2025, with reported figures of approximately $0.980 billion in 2021, $1.222 billion in 2022, $1.527 billion in 2023, $2.230 billion in 2024, and $2.942 billion in 2025.
- For 2026, expected capital expenditures are projected to reach approximately $3.901 billion.
- The primary focus of these expenditures includes investments in facilities in Charleston and St. Louis to support future production rate increases and expansions, as well as strategic investments in sustainable aviation research and development, and digital infrastructure upgrades.
Peer Outperformance in Aerospace & Defense
BA has trailed 72% of its 54 Aerospace & Defense peers over 5Y. Among the peers that beat it are CW, MOG-A and DCO. Aerospace & Defense ranks 4th of 23 industries in Industrials by median 5Y return.
Share of Aerospace & Defense constituents that BA has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
33%
of 70 industry peers · -4.7% return
3Y
23%
of 60 industry peers · -5.3% return
5Y
28%
of 54 industry peers · 1.1% return
Aerospace & Defense peers with revenue growth within 4pp of BA's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| BA | Boeing | 9.0% | 69.8x | -4.7% | -5.3% | 1.1% | — |
| CW | Curtiss-Wright | 10.3% | 44.2x | 35.1% | 219.9% | 461.0% | +460pp |
| MOG-A | Moog | 10.4% | 32.0x | 100.3% | 238.2% | 420.9% | +420pp |
| DCO | Ducommun | 5.1% | -95.1x | 115.4% | 326.9% | 267.1% | +266pp |
| RTX | RTX | 10.0% | 37.1x | 37.6% | 163.5% | 181.2% | +180pp |
| GD | General Dynamics | 10.3% | 23.2x | 23.7% | 82.7% | 117.3% | +116pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Industrials sector, ranked by 5Y. Aerospace & Defense is BA's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 29.0% | 130.0% | 210.1% | CDNL 3150% · STRL 2271% · FIX 2195% |
| Marine Transportation | 4 | 65.3% | 63.9% | 164.2% | MATX 216% · KEX 164% · SFL 164% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 12.8% | 63.1% | 123.5% | CAT 334% · ALSN 272% · WAB 251% |
| Aerospace & Defense ← | 55 | 14.2% | 69.9% | 83.1% | DFNS 2442% · ATI 1079% · FTAI 931% |
| Passenger Ground Transportation | 3 | -2.7% | 56.8% | 68.8% | UBER 97% · CAR 69% · LYFT -62% |
| Industrial Machinery & Supplies & Components | 71 | 10.6% | 55.4% | 54.0% | CRS 1511% · PSIX 843% · GHM 739% |
| Rail Transportation | 7 | 37.7% | 73.2% | 46.8% | FSTR 119% · CSX 62% · UNP 52% |
| Cargo Ground Transportation | 16 | 45.8% | 12.0% | 45.7% | XPO 281% · R 274% · CVLG 222% |
| Trading Companies & Distributors | 18 | 5.6% | 34.8% | 44.1% | DXPE 532% · AIT 307% · URI 245% |
| Diversified Support Services | 34 | 12.0% | 33.4% | 40.4% | LIME 4787% · TH 408% · WLFC 355% |
| Electrical Components & Equipment | 40 | 24.7% | 44.6% | 31.5% | POWL 2445% · BE 912% · VRT 882% |
| Building Products | 33 | -4.1% | 16.6% | 29.2% | GFF 423% · LMB 423% · PPIH 287% |
| Industrial Conglomerates | 17 | 23.4% | 26.6% | 10.3% | RCMT 808% · TTI 182% · CSW 151% |
| Office Services & Supplies | 10 | 14.7% | 27.3% | 4.2% | TILE 199% · PBI 168% · EBF 57% |
| Environmental & Facilities Services | 28 | -8.1% | 16.9% | 3.3% | CECO 904% · ADUR 652% · NVRI 302% |
| Research & Consulting Services | 13 | -6.9% | -18.4% | -3.8% | HURN 226% · CRAI 98% · GRNQ 80% |
| Agricultural & Farm Machinery | 17 | -3.3% | -10.5% | -17.6% | BLBD 196% · DE 89% · GENC 66% |
| Data Processing & Outsourced Services | 6 | -30.7% | -9.3% | -25.1% | EXLS 55% · BR 12% · G -24% |
| Passenger Airlines | 11 | 8.8% | -8.6% | -26.1% | LTM 2372% · UAL 154% · SKYW 151% |
| Human Resource & Employment Services | 21 | 12.6% | -19.8% | -35.3% | BBSI 88% · ADP 47% · KFY 39% |
| Air Freight & Logistics | 12 | -13.3% | -25.2% | -36.6% | CHRW 83% · FDX 69% · EXPD 61% |
| Security & Alarm Services | 10 | -32.3% | -17.2% | -47.1% | CIX 121% · MG 101% · BCO 56% |
| Airport Services | 3 | -68.1% | -69.6% | -58.7% | JOBY -24% · ASLE -59% · UP -100% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| The Number That Could Test Boeing Stock | 08/21/2026 | |
| How Does Boeing Stock Stack Up Against Its Peers? | 08/15/2026 | |
| The Green Light That Finally Cleared Boeing for Takeoff | 08/04/2026 | |
| What Could Get Boeing Stock Flying Higher? | 08/01/2026 | |
| Boeing Stock And The Number Behind The Worry | 07/11/2026 | |
| Boeing Stock Slides 5.3% With A 5-Day Losing Spree | 06/24/2026 | |
| Now Is Not The Time To Buy Boeing Stock | 05/14/2026 | |
| What Could Light a Fire Under Boeing Stock | 03/07/2026 | |
| What Is Happening With Boeing Stock? | 01/15/2026 | |
| Why Boeing Stock Jumped 60%? | 12/31/2026 | |
| ARTICLES | ||
| Boeing Stock Commands a Massive Premium: Is It Truly Earned? | 08/17/2026 | |
| Boeing’s Finished Flight Test Counts Most For A Different Jet | 08/04/2026 | |
| The Production Ramp That Could Repower Boeing Stock | 08/03/2026 | |
| Boeing Stock Slides -5.3% With A 5-Day Losing Spree | 06/24/2026 | |
| How Boeing Is Pivoting From Crisis To Efficiency | 04/23/2026 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 365.36 |
| Mkt Cap | 150.8 |
| Rev LTM | 65,938 |
| Op Inc LTM | 7,408 |
| FCF LTM | 7,422 |
| FCF 3Y Avg | 5,291 |
| CFO LTM | 8,752 |
| CFO 3Y Avg | 6,502 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.5% |
| Rev Chg 3Y Avg | 9.5% |
| Rev Chg Q | 9.3% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Inc Chg LTM | 22.5% |
| Op Inc Chg 3Y Avg | 10.9% |
| Op Mgn LTM | 11.0% |
| Op Mgn 3Y Avg | 9.7% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 13.8% |
| CFO/Rev 3Y Avg | 10.6% |
| FCF/Rev LTM | 11.5% |
| FCF/Rev 3Y Avg | 8.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 150.8 |
| P/S | 1.9 |
| P/Op Inc | 17.9 |
| P/EBIT | 21.3 |
| P/E | 30.2 |
| P/CFO | 18.0 |
| Total Yield | 4.9% |
| Dividend Yield | 1.4% |
| FCF Yield 3Y Avg | 3.8% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 7.5% |
| 3M Rtn | 12.2% |
| 6M Rtn | -2.4% |
| 12M Rtn | 26.9% |
| 3Y Rtn | 59.9% |
| 1M Excs Rtn | 3.5% |
| 3M Excs Rtn | 9.3% |
| 6M Excs Rtn | -13.7% |
| 12M Excs Rtn | 8.0% |
| 3Y Excs Rtn | -10.3% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Commercial Airplanes (BCA) | 41,494 | 22,861 | 33,901 | 26,026 | 19,714 |
| Defense, Space & Security (BDS) | 27,234 | 23,918 | 24,933 | 23,162 | 26,540 |
| Global Services (BGS) | 20,923 | 19,954 | 19,127 | 17,611 | 16,328 |
| Unallocated items, eliminations and other | -188 | -216 | -167 | -191 | -296 |
| Total | 89,463 | 66,517 | 77,794 | 66,608 | 62,286 |
| $ Mil | 2025 | 2024 | 2023 | 2015 | 2014 |
|---|---|---|---|---|---|
| Global Services (BGS) | 13,474 | 3,618 | 3,329 | ||
| Pension Financial Accounting Standards (FAS)/Cost Accounting Standards (CAS) service cost adjustment | 784 | 811 | 799 | ||
| Postretirement Financial Accounting Standards (FAS)/ Cost Accounting Standards (CAS) service cost | 261 | 293 | 257 | ||
| Share-based plans | -49 | 171 | 62 | ||
| Amortization of previously capitalized interest | -92 | -93 | -95 | ||
| Defense, Space & Security (BDS) | -128 | -5,413 | -1,764 | ||
| Deferred compensation | -182 | -114 | -188 | ||
| Research and development expense, net | -411 | -377 | -315 | ||
| Eliminations and other unallocated items | -2,297 | -1,634 | -1,223 | ||
| Commercial Airplanes (BCA) | -7,079 | -7,969 | -1,635 | ||
| Boeing Capital | 50 | 92 | |||
| Boeing Military Aircraft | 1,318 | 1,304 | |||
| Commercial Airplanes | 5,157 | 6,411 | |||
| Global Services and Support | 1,230 | 1,131 | |||
| Network and Space Systems | 726 | 698 | |||
| Unallocated items, eliminations and other | -1,038 | -2,163 | |||
| Total | 4,281 | -10,707 | -773 | 7,443 | 7,473 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Commercial Airplanes (BCA) | 91,837 | 84,177 | 77,047 | 75,212 | 75,863 |
| Unallocated items, eliminations and other | 43,649 | 40,132 | 28,851 | 29,803 | 29,583 |
| Defense, Space & Security (BDS) | 16,723 | 15,350 | 14,921 | 14,426 | 14,974 |
| Global Services (BGS) | 16,026 | 16,704 | 16,193 | 16,149 | 16,397 |
| Boeing Capital (BCC) | 1,510 | 1,735 | |||
| Total | 168,235 | 156,363 | 137,012 | 137,100 | 138,552 |
Price Behavior
Price Behavior
| Market Price | $215.10 | |
| Market Cap ($ Bil) | 170.1 | |
| First Trading Date | 01/02/1962 | |
| Distance from 52W High | -14.7% | |
| 50 Days | 200 Days | |
| DMA Price | $221.87 | $219.32 |
| DMA Trend | indeterminate | indeterminate |
| Distance from DMA | -3.1% | -1.9% |
| 3M | 1YR | |
| Volatility | 37.6% | 33.8% |
| Downside Capture | 132.90 | 143.38 |
| Upside Capture | 107.19 | 107.29 |
| Correlation (SPY) | 49.9% | 45.2% |
BA Betas & Captures as of 7/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.24 | 1.18 | 1.31 | 1.26 | 1.11 | 1.07 |
| Up Beta | 0.45 | 1.93 | 1.98 | 1.86 | 1.41 | 1.14 |
| Down Beta | 1.96 | 1.07 | 1.32 | 0.70 | 0.65 | 1.18 |
| Up Capture | 124% | 79% | 85% | 103% | 104% | 61% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 11 | 17 | 28 | 58 | 123 | 376 |
| Down Capture | 125% | 114% | 130% | 131% | 121% | 102% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 11 | 26 | 35 | 68 | 129 | 375 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BA | |
|---|---|---|---|---|
| BA | -4.4% | 33.7% | -0.09 | - |
| Sector ETF (XLI) | 20.1% | 17.1% | 0.90 | 50.4% |
| Equity (SPY) | 20.3% | 12.9% | 1.16 | 45.6% |
| Gold (GLD) | 36.2% | 28.7% | 1.07 | 24.6% |
| Commodities (DBC) | 44.1% | 20.2% | 1.69 | -22.2% |
| Real Estate (VNQ) | 13.3% | 13.8% | 0.66 | 21.5% |
| Bitcoin (BTCUSD) | -38.8% | 43.2% | -1.01 | 31.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BA | |
|---|---|---|---|---|
| BA | -2.6% | 36.7% | 0.01 | - |
| Sector ETF (XLI) | 12.9% | 17.6% | 0.57 | 57.7% |
| Equity (SPY) | 12.8% | 17.2% | 0.57 | 53.6% |
| Gold (GLD) | 20.4% | 18.6% | 0.89 | 16.6% |
| Commodities (DBC) | 10.2% | 19.6% | 0.40 | 9.5% |
| Real Estate (VNQ) | 2.4% | 18.9% | 0.02 | 38.1% |
| Bitcoin (BTCUSD) | 9.3% | 52.7% | 0.36 | 24.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BA | |
|---|---|---|---|---|
| BA | 5.5% | 41.8% | 0.27 | - |
| Sector ETF (XLI) | 13.8% | 20.0% | 0.61 | 68.3% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 59.3% |
| Gold (GLD) | 12.4% | 16.2% | 0.63 | 10.3% |
| Commodities (DBC) | 8.1% | 18.1% | 0.37 | 22.8% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 50.1% |
| Bitcoin (BTCUSD) | 61.0% | 66.1% | 1.01 | 17.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/6/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/28/2026 | 4.8% | 10.4% | |
| 4/22/2026 | 5.5% | 5.3% | 1.4% |
| 1/27/2026 | -1.6% | -6.2% | -7.3% |
| 10/29/2025 | -4.4% | -11.3% | -16.3% |
| 7/29/2025 | -4.4% | -6.0% | -0.7% |
| 4/23/2025 | 6.1% | 12.0% | 25.0% |
| 1/28/2025 | 1.5% | 0.4% | -1.2% |
| 10/23/2024 | -1.8% | -4.3% | -8.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 13 | 11 |
| # Negative | 13 | 11 | 12 |
| Median Positive | 4.2% | 3.1% | 7.1% |
| Median Negative | -4.0% | -4.3% | -2.3% |
| Max Positive | 8.7% | 12.0% | 40.2% |
| Max Negative | -8.8% | -11.7% | -26.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/28/2026 | 4.8% | 10.4% | |
| 4/22/2026 | 5.5% | 5.3% | 1.4% |
| 1/27/2026 | -1.6% | -6.2% | -7.3% |
| 10/29/2025 | -4.4% | -11.3% | -16.3% |
| 7/29/2025 | -4.4% | -6.0% | -0.7% |
| 4/23/2025 | 6.1% | 12.0% | 25.0% |
| 1/28/2025 | 1.5% | 0.4% | -1.2% |
| 10/23/2024 | -1.8% | -4.3% | -8.6% |
| 7/31/2024 | 2.0% | -11.7% | -8.6% |
| 4/24/2024 | -2.9% | -0.8% | 10.1% |
| 1/31/2024 | 5.3% | 4.1% | 1.6% |
| 10/25/2023 | -2.5% | 2.4% | 20.6% |
| 7/26/2023 | 8.7% | 11.2% | 6.8% |
| 4/26/2023 | 0.4% | 0.5% | -1.4% |
| 1/25/2023 | 0.3% | 0.5% | -1.8% |
| 10/26/2022 | -8.8% | -2.2% | 19.2% |
| 7/27/2022 | 0.1% | 4.7% | 4.9% |
| 4/27/2022 | -7.5% | -8.1% | -26.9% |
| 1/26/2022 | -4.8% | 2.1% | -2.8% |
| 10/27/2021 | -1.5% | 1.4% | 0.4% |
| 7/28/2021 | 4.2% | 3.1% | -0.6% |
| 4/28/2021 | -2.9% | -3.6% | -0.5% |
| 1/27/2021 | -4.0% | -0.6% | 7.1% |
| 10/28/2020 | -4.6% | -1.0% | 40.2% |
| SUMMARY STATS | |||
| # Positive | 11 | 13 | 11 |
| # Negative | 13 | 11 | 12 |
| Median Positive | 4.2% | 3.1% | 7.1% |
| Median Negative | -4.0% | -4.3% | -2.3% |
| Max Positive | 8.7% | 12.0% | 40.2% |
| Max Negative | -8.8% | -11.7% | -26.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/28/2026 | 10-Q |
| 03/31/2026 | 04/22/2026 | 10-Q |
| 12/31/2025 | 01/30/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/29/2025 | 10-Q |
| 03/31/2025 | 04/23/2025 | 10-Q |
| 12/31/2024 | 02/03/2025 | 10-K |
| 09/30/2024 | 10/23/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 04/24/2024 | 10-Q |
| 12/31/2023 | 01/31/2024 | 10-K |
| 09/30/2023 | 10/25/2023 | 10-Q |
| 06/30/2023 | 07/26/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 01/27/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/28/2026 | 10-Q |
| 03/31/2026 | 04/22/2026 | 10-Q |
| 12/31/2025 | 01/30/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/29/2025 | 10-Q |
| 03/31/2025 | 04/23/2025 | 10-Q |
| 12/31/2024 | 02/03/2025 | 10-K |
| 09/30/2024 | 10/23/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 04/24/2024 | 10-Q |
| 12/31/2023 | 01/31/2024 | 10-K |
| 09/30/2023 | 10/25/2023 | 10-Q |
| 06/30/2023 | 07/26/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 01/27/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| 06/30/2022 | 07/27/2022 | 10-Q |
| 03/31/2022 | 04/27/2022 | 10-Q |
| 12/31/2021 | 01/31/2022 | 10-K |
| 09/30/2021 | 10/27/2021 | 10-Q |
| 06/30/2021 | 07/28/2021 | 10-Q |
| 03/31/2021 | 04/28/2021 | 10-Q |
| 12/31/2020 | 02/01/2021 | 10-K |
| 09/30/2020 | 10/28/2020 | 10-Q |
| 06/30/2020 | 07/29/2020 | 10-Q |
| 03/31/2020 | 04/29/2020 | 10-Q |
| 12/31/2019 | 01/31/2020 | 10-K |
| 09/30/2019 | 10/23/2019 | 10-Q |
Recent Forward Guidance
Updated 7/29/2026Latest: Q2 2026 Earnings Reported 7/28/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 737-7 and 737-10 Certification | Affirmed | Guidance: 0 for 2026 | |||||
| 2027 737-7 and 737-10 First Delivery | Affirmed | Guidance: 0 for 2027 | |||||
| 2027 777X First Delivery | Affirmed | Guidance: 0 for 2027 | |||||
| 2028 VC-25B First Delivery | |||||||
Prior: Q1 2026 Earnings Reported 4/22/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 737-7 and 737-10 Certification | |||||||
| 2027 737-7 and 737-10 First Delivery | |||||||
| 2027 777X First Delivery | Affirmed | Guidance: 0 for 2027 | |||||
Q4 2025 Earnings Reported 1/27/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 First Delivery of 777X | Affirmed | Guidance: 0 for 2027 | |||||
Q3 2025 Earnings Reported 10/29/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 737 Production Rate | 42 | 0 | Affirmed | Guidance: 42 for 2025 | |||
| 2027 777-9 First Delivery | |||||||
Insider Activity
Updated 8/18/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Tilden, Bradley D | Direct | Buy | 5222026 | 218.50 | 1,370 | 299,345 | 299,345 | Form | |
| 2 | Buckley, Mortimer J | Direct | Buy | 3052026 | 224.20 | 2,230 | 499,966 | 993,206 | Form | |
| 3 | Amuluru, Uma M | EVP and Chief HR Officer | Direct | Sell | 2262026 | 233.78 | 1,503 | 351,484 | 4,445,415 | Form |
| 4 | Schmidt, Ann M | SVP, Chief Com & Brand Officer | Direct | Sell | 2192026 | 243.37 | 6,281 | 1,528,613 | 3,401,754 | Form |
| 5 | McKenzie, Howard E | Chief Engineer & EVP, ET&T | Direct | Sell | 2052026 | 233.99 | 10,497 | 2,456,150 | 3,437,741 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Tilden, Bradley D | Direct | Buy | 5222026 | 218.50 | 1,370 | 299,345 | 299,345 | Form | |
| 2 | Buckley, Mortimer J | Direct | Buy | 3052026 | 224.20 | 2,230 | 499,966 | 993,206 | Form | |
| 3 | Amuluru, Uma M | EVP and Chief HR Officer | Direct | Sell | 2262026 | 233.78 | 1,503 | 351,484 | 4,445,415 | Form |
| 4 | Schmidt, Ann M | SVP, Chief Com & Brand Officer | Direct | Sell | 2192026 | 243.37 | 6,281 | 1,528,613 | 3,401,754 | Form |
| 5 | McKenzie, Howard E | Chief Engineer & EVP, ET&T | Direct | Sell | 2052026 | 233.99 | 10,497 | 2,456,150 | 3,437,741 | Form |
| 6 | Amuluru, Uma M | EVP and Chief HR Officer | Direct | Sell | 2052026 | 236.00 | 2,731 | 644,598 | 2,814,300 | Form |
| 7 | Deasy, Dana S | CIDO, SVP IDT&S | Direct | Buy | 11252025 | 178.88 | 554 | 99,102 | 5,087,847 | Form |
| 8 | Amuluru, Uma M | EVP and Chief HR Officer | Direct | Sell | 11102025 | 197.66 | 1,366 | 270,009 | 2,897,032 | Form |
| 9 | Buckley, Mortimer J | Direct | Buy | 8212025 | 226.10 | 2,200 | 497,420 | 497,420 | Form | |
| 10 | Raymond, David Christopher | EVP, Pres. & CEO, BGS | Direct | Sell | 8122025 | 229.94 | 3,771 | 867,069 | 8,248,722 | Form |
Investor Activity (13F)
Updated Aug 21, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| King Street Capital Management, L.P. | $51.4 Mil | 15.7% | 11 | TRIM -89.1% | 13F |
| Rovida Investment Management Ltd | $122.8 Mil | 15.4% | 17 | Hold | 13F |
| Newport Trust Company, LLC | $5.7 Bil | 14.0% | 64 | Hold | 13F |
| Spectrum Financial Alliance Ltd LLC | $67.6 Mil | 13.0% | 32 | ADD +5.2% | 13F |
| Mark Asset Management LP | $41.0 Mil | 5.4% | 31 | Hold | 13F |
| Minneapolis Portfolio Management Group, LLC | $39.3 Mil | 4.2% | 33 | Hold | 13F |
| Alpha Wave Global, LP | $32.9 Mil | 4.2% | 20 | TRIM -8.1% | 13F |
| Avala Global LP | $81.9 Mil | 3.9% | 22 | ADD +142.1% | 13F |
| Hill City Capital, LP | $109.8 Mil | 3.9% | 23 | ADD +6.4% | 13F |
| General Pension Society PZU Joint Stock Co | $24.7 Mil | 3.8% | 15 | Hold | 13F |
| Portman Square Capital LLP | $23.0 Mil | 3.5% | 44 | ADD +181.9% | 13F |
| Southpoint Capital Advisors LP | $139.3 Mil | 2.9% | 41 | New | 13F |
| Valueworks LLC | $10.1 Mil | 2.8% | 35 | ADD +12.8% | 13F |
| Generali Powszechne Towarzystwo Emerytalne | $13.9 Mil | 2.5% | 28 | ADD +40.0% | 13F |
| Cambridge Financial Group, Inc. | $6.5 Mil | 2.4% | 33 | ADD +5.3% | 13F |
| Ratan Capital Management LP | $6.4 Mil | 2.4% | 37 | TRIM -52.5% | 13F |
| Sound Shore Management Inc /CT/ | $70.7 Mil | 2.4% | 40 | New | 13F |
| Bbfit Investments PTE LTD | $19.7 Mil | 2.3% | 7 | Hold | 13F |
| Codex Capital Asset Management L.L.C. | $5.3 Mil | 2.0% | 31 | New | 13F |
| DKRT Investments Corp. | $7.5 Mil | 1.9% | 48 | Hold | 13F |
| Archon Partners LLC | $11.9 Mil | 1.4% | 39 | Hold | 13F |
| Gray Foundation | $5.3 Mil | 1.3% | 11 | Hold | 13F |
| Troluce Capital Advisors LLC | $10.0 Mil | 1.1% | 46 | New | 13F |
| Electron Capital Partners, LLC | $18.6 Mil | 0.9% | 44 | TRIM -48.4% | 13F |
| BSN CAPITAL PARTNERS Ltd | $18.1 Mil | 0.9% | 41 | New | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Southpoint Capital Advisors LP | $139.3 Mil | 2.9% | 41 | New | 13F |
| Sound Shore Management Inc /CT/ | $70.7 Mil | 2.4% | 40 | New | 13F |
| BSN CAPITAL PARTNERS Ltd | $18.1 Mil | 0.9% | 41 | New | 13F |
| Troluce Capital Advisors LLC | $10.0 Mil | 1.1% | 46 | New | 13F |
| Codex Capital Asset Management L.L.C. | $5.3 Mil | 2.0% | 31 | New | 13F |
| Portman Square Capital LLP | $23.0 Mil | 3.5% | 44 | ADD +181.9% | 13F |
| Avala Global LP | $81.9 Mil | 3.9% | 22 | ADD +142.1% | 13F |
| Generali Powszechne Towarzystwo Emerytalne | $13.9 Mil | 2.5% | 28 | ADD +40.0% | 13F |
| Valueworks LLC | $10.1 Mil | 2.8% | 35 | ADD +12.8% | 13F |
| Hill City Capital, LP | $109.8 Mil | 3.9% | 23 | ADD +6.4% | 13F |
| Cambridge Financial Group, Inc. | $6.5 Mil | 2.4% | 33 | ADD +5.3% | 13F |
| Spectrum Financial Alliance Ltd LLC | $67.6 Mil | 13.0% | 32 | ADD +5.2% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | As Of | Filing |
|---|---|---|---|---|---|---|
| Avantyr Capital Partners, LP | $91.9 Mil | 5.5% | 25 | Exited | Dec 31, 2025 | 13F |
| Agave Capital Management Ltd | $36.8 Mil | 6.2% | 23 | Exited | Dec 31, 2025 | 13F |
| FengHe Fund Management Pte. Ltd. | $35.6 Mil | 2.0% | 38 | Exited | Dec 31, 2025 | 13F |
| CTC LLC | $17.9 Mil | 1.6% | 38 | Exited | Dec 31, 2025 | 13F |
| Skye Global Management LP | $8.3 Mil | 0.2% | 45 | Exited | Dec 31, 2025 | 13F |
| King Street Capital Management, L.P. | $51.4 Mil | 15.7% | 11 | TRIM -89.1% | Mar 31, 2026 | 13F |
| Ratan Capital Management LP | $6.4 Mil | 2.4% | 37 | TRIM -52.5% | Mar 31, 2026 | 13F |
| Electron Capital Partners, LLC | $18.6 Mil | 0.9% | 44 | TRIM -48.4% | Mar 31, 2026 | 13F |
| Alpha Wave Global, LP | $32.9 Mil | 4.2% | 20 | TRIM -8.1% | Mar 31, 2026 | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Newport Trust Company, LLC | $5.7 Bil | 14.0% | 64 | Hold | 13F |
| Southpoint Capital Advisors LP | $139.3 Mil | 2.9% | 41 | New | 13F |
| Rovida Investment Management Ltd | $122.8 Mil | 15.4% | 17 | Hold | 13F |
| Hill City Capital, LP | $109.8 Mil | 3.9% | 23 | ADD +6.4% | 13F |
| Avala Global LP | $81.9 Mil | 3.9% | 22 | ADD +142.1% | 13F |
| Sound Shore Management Inc /CT/ | $70.7 Mil | 2.4% | 40 | New | 13F |
| Spectrum Financial Alliance Ltd LLC | $67.6 Mil | 13.0% | 32 | ADD +5.2% | 13F |
| King Street Capital Management, L.P. | $51.4 Mil | 15.7% | 11 | TRIM -89.1% | 13F |
| Mark Asset Management LP | $41.0 Mil | 5.4% | 31 | Hold | 13F |
| Minneapolis Portfolio Management Group, LLC | $39.3 Mil | 4.2% | 33 | Hold | 13F |
| Alpha Wave Global, LP | $32.9 Mil | 4.2% | 20 | TRIM -8.1% | 13F |
| General Pension Society PZU Joint Stock Co | $24.7 Mil | 3.8% | 15 | Hold | 13F |
| Portman Square Capital LLP | $23.0 Mil | 3.5% | 44 | ADD +181.9% | 13F |
| Bbfit Investments PTE LTD | $19.7 Mil | 2.3% | 7 | Hold | 13F |
| Electron Capital Partners, LLC | $18.6 Mil | 0.9% | 44 | TRIM -48.4% | 13F |
| BSN CAPITAL PARTNERS Ltd | $18.1 Mil | 0.9% | 41 | New | 13F |
| Generali Powszechne Towarzystwo Emerytalne | $13.9 Mil | 2.5% | 28 | ADD +40.0% | 13F |
| Archon Partners LLC | $11.9 Mil | 1.4% | 39 | Hold | 13F |
| Valueworks LLC | $10.1 Mil | 2.8% | 35 | ADD +12.8% | 13F |
| Troluce Capital Advisors LLC | $10.0 Mil | 1.1% | 46 | New | 13F |
| DKRT Investments Corp. | $7.5 Mil | 1.9% | 48 | Hold | 13F |
| Cambridge Financial Group, Inc. | $6.5 Mil | 2.4% | 33 | ADD +5.3% | 13F |
| Ratan Capital Management LP | $6.4 Mil | 2.4% | 37 | TRIM -52.5% | 13F |
| Codex Capital Asset Management L.L.C. | $5.3 Mil | 2.0% | 31 | New | 13F |
| Gray Foundation | $5.3 Mil | 1.3% | 11 | Hold | 13F |
Boeing — Investor Video Playlist
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Boeing Q2 FY26 Earnings Call | $BA | 🔴 WATCH LIVE
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Core Cache Last Updated: 8/20/2026