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The Boeing Company
Dow 30 S&P 500
$162.8B
Market Cap
87.5
P/E
9.26
PEG
8.1%
ROCE
290.1%
ROE
9.91
D/E
4.8%
OPM
-15.9%
% from 52W High
28
α RS
🔍 BA is showing a high-conviction setup because it matches 4 of 37 tracked screener presets, an ECS of 83.9 last quarter, and it's within 15.9% of its 52-week high. Net: Broad signal stack, not a recommendation. ? Conviction ECS 52W High
Sources
Conviction 4/37 · ECS 83.9 · 15.9% from 52W high
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Currency-adjusted total returns for BA including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
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About

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding BA
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Manager Shares Value % of Fund Period
Andreas Halvorsen Viking Global Investors 3.20M $636.1M 1.78% Mar 2026
Jim Simons Renaissance Technologies LLC 931.5K $185.4M 0.29% Mar 2026
Steve Cohen Point72 Asset Management 241.7K $48.1M 0.06% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$24.6B
+8% YoY
Operating Income
$0.16B
+$0.3B YoY (from -$0.18B)
Operating Margin
0.6%
+1.4pp YoY
Net Income
-$0.43B
+$0.18B YoY (from -$0.61B)
Core EPS
-$0.76
+$0.48 YoY (from -$1.24)
Free Cash Flow
$0.63B
+$0.83B YoY (from -$0.20B)
What Went Right
  • Commercial deliveries of 171 airplanes — highest quarterly total since 2018, up 14% YoY
  • Free cash flow turned positive at $631M, ahead of the prior quarter's expectations
  • Record total backlog of $715B, including over 6,200 commercial airplanes valued at $597B
  • 737-7 testing complete and 737-10 final test flight done — both on track for 2027 deliveries
  • Debt reduced by $8.2B year-to-date, with cash and securities stable at $20B
What to Watch
  • VC-25B fixed-price program took a $280M loss charge for added build/test resources
  • 787 seat certification delays and GE engine delivery recovery remain hurdles to reaching rate 10
  • SPEEA engineering union negotiations underway ahead of October contract expiry — work stoppage risk
  • Third-quarter free cash flow guided to only 'low hundreds of millions' due to a $700M DOJ payment
  • Supply chain constraints expected to tighten as 737 rate rises from 52 towards 57 per month
Management Guidance
  • Full-year 2026 free cash flow reaffirmed at $1B-$3B
  • Q3 2026 free cash flow expected positive in the low hundreds of millions, including a $700M DOJ payment
  • 737 deliveries on track for 500 airplanes in 2026; 787 deliveries on track for 90-100
  • 737-7 and 737-10 certification expected in 2026 with first deliveries in 2027
  • 777X first delivery remains on plan for 2027
Investor Lens
The investment thesis is stronger after this call. Boeing delivered its best quarterly volume since 2018 (171 jets), returned to positive free cash flow ($631M), and reaffirmed its $1B-$3B full-year guidance — a meaningful step towards the $10B FCF target. Certification programmes (737-7, 737-10, 777X) are all on track, and the FAA has resumed issuing airworthiness certificates, de-risking the delivery pipeline. The $280M VC-25B charge and lingering 787 seat/engine issues show execution risk remains, but management's disciplined approach to rate breaks and supply-chain readiness — including starting low-rate production in Everett — improves confidence in the ramp to 52 and beyond.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Strong beat on cash and deliveries — best quarter since 2018 with $0.6B FCF
Revenue
Revenue rose 8% YoY to $24.6B. BCA contributed $11.8B (up 8%), BDS $7.5B (up 13%), and BGS $5.3B (up 1%, or 8% ex-divestiture).
Profitability
Net loss narrowed to $428M from $612M YoY; GAAP diluted loss per share was ($0.67) vs ($0.92) prior year, with core loss per share of ($0.76) versus ($1.24).
Margins
Consolidated operating margin improved to 0.6% from (0.8%). BCA margin improved to (2.7%) from (5.1%) on higher volume and mix; BDS margin was (0.2%) including the VC-25B charge, or a positive 3.5% excluding it; BGS margin was 18.1%.
Balance Sheet
Cash and marketable securities ended at $20.0B, with consolidated debt down $1.3B in the quarter and $8.2B year-to-date to $45.9B. Free cash flow was positive at $631M; CapEx rose to $733M in the quarter.
Key Risks
Management flagged ongoing 787 seat certification work (lumpy deliveries through year-end), GE 787 engine delivery recovery required for rate 10, and potential tighter supply chain constraints as 737 rates climb from 52 to 57 per month. Early SPEEA labour negotiations add uncertainty into October.
Outlook
Full-year free cash flow reaffirmed at $1B-$3B; Q3 expected positive but only low hundreds of millions due to a $700M DOJ payment. 737 deliveries guided to 500 and 787 to 90-100 for 2026, with 777X first delivery pegged for 2027.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-28
Revenue rose 8% to $24.6B with strong commercial and defense deliveries, and free cash flow exceeded expectations at $631M. Record backlog and robust demand support positive outlook, though risks remain from program charges, supply chain, and labor negotiations.
Q1 2026 Q1 2026 2026-04-22
Revenue rose 14% to $22.2B with strong growth in all segments and record backlogs. Production rates for key programs are increasing, cash flow guidance remains positive, and no material impact from Middle East instability is expected.
Q4 2025 Q4 2025 2026-01-27
Quarterly revenue surged 57% year-over-year to $23.9 billion, with record commercial and defense backlogs and improved operational performance. 2026 guidance calls for positive free cash flow of $1–$3 billion, higher CapEx, and continued focus on certification and production ramp-ups.
Q3 2025 Q3 2025 2025-10-29
Revenue grew 30% to $23.3B with positive free cash flow, but a $4.9B 777X charge led to a core loss. Commercial and defense segments saw strong demand and record backlogs, while production rates for 737 and 787 are rising. 777X delivery delayed to 2027, with cash neutrality expected by 2028.
Q2 2025 Q2 2025 2025-07-29
Revenue grew 35% to $22.7B, driven by record commercial deliveries and strong backlog. Free cash flow usage improved, with full-year guidance at $3B and positive Q4 expected. Certification delays and trade risks remain, but long-term demand and margin targets are intact.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Information Sources:
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