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Maker of commercial airliners (737, 787, 777) and a major military aircraft, satellite and defense systems contractor.
Maker of commercial airliners (737, 787, 777) and a major military aircraft, satellite and defense systems contractor.
Sells aircraft to airlines under orders placed years ahead, so its backlog stretches for years, and earns recurring revenue from parts, training and services. Boeing and Airbus share the large airliner market. Its defense unit works under government contracts, including fixed-price ones where cost overruns fall on Boeing.
Moat: wide (scale, IP / patents, switching costs). A global commercial-aircraft duopoly (with Airbus) protected by immense certification and switching costs.
Headquarters: Arlington, Virginia, US · Founded: 1916 · Employees: 182,000
Size Boeing (BA) is a United States Industrials company (Aerospace & Defense) with a market value of $137B, the 88th largest of 3,117 United States companies the cockpit tracks. Shares closed at $173.40 on 6 Nov 2026.
Performance Over six months the shares fell 26.9%, against +3.4% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 17 in its peer set.
Growth Revenue grew 17.5% over the last twelve months (peer median +8.8%); the operating margin is -0.1% (peer median 12.7%).
Valuation It trades at 179,875.5× forward earnings against a peer median of 24.4× (most expensive of 18).
Capital Return on invested capital runs 10.3 points below its cost of capital (10.0% WACC).
Backlog Backlog (remaining performance obligations) was $745B at 30 Sep 2026, up 17% on a year earlier — 7.9 years of trailing revenue. Backlog detail →
Credit Boeing has 42 bonds outstanding ($44.7B), rated BBB- by the agencies and trading like BBB+ at a weighted spread of 96 bp.
Short interest Short interest is 1.9% of the free float (15 Oct 2026).
Next results Next results expected around 27 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $94.9B | $89.5B | $66.5B | $77.8B | $66.6B |
| Revenue growth | — | +34% | -14% | +17% | — |
| Gross profit | $8.96B | $4.33B | -$1.96B | $7.71B | $3.46B |
| EBITDA | $2.16B | -$3.37B | -$8.95B | $1.05B | -$1.57B |
| Net income | $7.66B | $2.23B | -$11.8B | -$2.22B | -$4.93B |
| Free cash flow | $16.0M | -$1.88B | -$14.3B | $4.43B | $2.29B |
| Capital expenditure | $4.00B | $2.94B | $2.23B | $1.53B | $1.22B |
| Total debt | $45.9B | $56.4B | $56.0B | $54.1B | $58.6B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Boeing BA | $137B | -27% | +18% | 0% | 179,875.5× | n/a |
| Airbus AIR.PA | $174B | +14% | +6% | 8% | 26.8× | 22.6% |
| Lockheed Martin LMT | $131B | +12% | +8% | 12% | 17.6× | -6.9% |
| Embraer S.A. Sponsored ADR EMBJ | $14.1B | +23% | +20% | 8% | 23.6× | 16.9% |
| Textron TXT | $14.2B | -8% | +9% | 7% | 11.9× | 8.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.6% | +4.9% | 3rd lowest of 18 |
| 6-month return | -26.9% | +3.4% | 2nd lowest of 17 |
| Distance from 52-week high | -31.8% | -19.1% | 5th lowest of 18 |
| Revenue growth (TTM) | +17.5% | +8.8% | 5th highest of 17 |
| Operating margin | -0.1% | 12.7% | lowest of 18 |
| Forward P/E | 179,875.5× | 24.4× | most expensive of 18 |
| ROIC minus cost of capital | -10.3 pp | +8.7 pp | lowest of 17 |
| Net debt / EBITDA | 11.7× | 1.2× | most indebted of 18 |
| Bond spread | 96 bp | 70 bp | 2nd widest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Boeing BA | United States | $137B | -27% | +18% | 0% | 179,875.5× | n/a | n/a |
| Safran SAF.PA | France | $138B | +4% | +14% | 13% | 28.5× | 22.2% | +13.4% |
| Rolls-Royce RR..L | United Kingdom | $140B | +6% | +19% | 18% | 28.5× | 24.6% | +13.0% |
| Lockheed Martin LMT | United States | $131B | +12% | +8% | 12% | 17.6× | -6.9% | +2.8% |
| Airbus AIR.PA | France | $174B | +14% | +6% | 8% | 26.8× | 22.6% | +8.0% |
| General Dynamics GD | United States | $95.7B | +3% | +10% | 10% | 19.4× | -2.5% | +6.7% |
| Howmet Aerospace HWM | United States | $81.8B | -24% | +22% | 28% | 32.6× | 24.1% | +9.4% |
| Northrop Grumman NOC | United States | $74.6B | -4% | +7% | 11% | 17.8× | 0.2% | +2.7% |
| RTX RTX | United States | $256B | +8% | +12% | 11% | 24.4× | 8.4% | +9.4% |
| BAE Systems BA..L | United Kingdom | $72.6B | -4% | +7% | 9% | 22.0× | 2.8% | +8.0% |
| TransDigm TDG | United States | $66.2B | -1% | +17% | 47% | 25.5× | 9.7% | +11.6% |
| GE Aerospace GE | United States | $334B | +9% | +20% | 18% | 36.4× | 27.6% | -9.6% |
| Thales HO.PA | France | $51.1B | -1% | +7% | 11% | 20.6× | -2.8% | +7.6% |
| Honeywell Aerospace HONA | United States | $48.5B | n/a | n/a | 20% | 18.8× | n/a | n/a |
| L3Harris LHX | United States | $48.4B | -13% | +7% | 12% | 20.1× | 7.0% | +3.7% |
| Rheinmetall RHM.DE | Germany | $42.5B | -29% | -2% | 18% | 22.0× | 6.5% | +12.9% |
| HEICO HEI | United States | $39.2B | +14% | +21% | 24% | 47.8× | 24.5% | +20.2% |
| Hindustan Aeronautics HAL.NS | India | $35.2B | +4% | +7% | 23% | 33.6× | 42.7% | +7.2% |
Boeing has 42 bonds outstanding with $44.7B face value. The agencies rate it BBB-; its bonds trade like BBB+. Weighted yield 5.84%, a spread of 96 bp over government bonds.
Boeing reported $745B of remaining performance obligations at 30 Sep 2026, up 17% from a year earlier and up 4% from the previous quarter. That is 7.9 years of trailing revenue already under contract. Book-to-bill last quarter: 2.25.