Dashboard Market News Pricing Contact Us
Search 100,000+ stocks...
English EN
Deutsch DE Español ES
Sign Up
Log in
Boeing Co banner

Boeing Co
XMUN:BCO

Watchlist Manager
Boeing Co Logo
Boeing Co
XMUN:BCO
Watchlist
Price: 175.58 EUR 1.28%
Market Cap: €108.1B
Write Note Create Alert Ask AI
Financial profile · Q2 FY2026

A delivery-driven recovery constrained by program volatility and capital intensity

Boeing’s financial model is delivery-driven and capital-intensive: revenue and cash generation improve as aircraft output rises, but operating profitability remains volatile because program execution, production costs, and financing expense can overwhelm scale benefits. Heavy investment and periodic equity issuance further separate operational recovery from per-share earnings and free-cash-flow durability.

What is developing

The latest comparable results show meaningful improvement in quarterly revenue, operating performance, and cash generation, but not a changed financial model: TTM operating income remains negative and TTM free cash flow is still slightly below zero. The significance is improving execution and cash timing, not yet durable earnings conversion.

What matters next

Whether quarterly operating cash flow remains positive and TTM free cash flow moves above zero without another large program charge.

USD
Metric FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Revenue
93.5B 94B 101.1B 84.8B 58.7B 62.3B 66.6B 77.8B 66.5B 89.5B
Cost of Revenue
(79B) (76.6B) (81.5B) (72.1B) (63.8B) (59.2B) (63.1B) (70.1B) (68.5B) (85.2B)
Gross Profit
14.5B 17.4B 19.6B 12.7B (5.2B) 3B 3.5B 7.7B (2B) 4.3B
Operating Expenses
(8.2B) (7.3B) (7.8B) (7.1B) (7.3B) (6.4B) (7B) (8.5B) (8.8B) (9.7B)
Selling, General & Administrative
(3.6B) (4.1B) (4.6B) (3.9B) (4.8B) (4.2B) (4.2B) (5.2B) (5B) (6.1B)
R&D
(4.6B) (3.2B) (3.3B) (3.2B) (2.5B) (2.2B) (2.9B) (3.4B) (3.8B) (3.6B)
Operating Income
6.2B 10.1B 11.8B 5.6B (12.5B) (3.4B) (3.5B) (821m) (10.8B) (5.4B)
Net Interest Income (Expense)
(3m) (140m) (363m) (726m) (2.1B) (2.5B) (2.6B) (2.4B) (2.7B) (2.7B)
Interest Expense
306m 360m 475m 722m 2.2B 2.7B 2.6B 2.5B 2.7B 2.8B
Non-Recurring Items
(7m) 21m 75m (7.6B) (296m) 277m 6m 2m 46m 9.7B
Total Other Income
(438m) 107m 91m 438m 447m 551m 1.1B 1.2B 1.2B 1.1B
Pre-Tax Income
5.8B 10.1B 11.6B (2.3B) (14.5B) (5B) (5B) (2B) (12.2B) 2.6B
Tax Provision
(749m) (2.9B) (1.1B) 1.6B 1.4B 743m (31m) (237m) 381m (397m)
Income from Continuing Operations
5B 7.2B 10.5B (636m) (13.1B) (4.3B) (5.1B) (2.2B) (11.8B) 2.2B
Income to Minority Interest
— — — — 68m 88m 118m 20m 12m (3m)
Net Income
5B 8.5B 10.5B (636m) (11.9B) (4.2B) (4.9B) (2.2B) (11.9B) 1.9B
EPS (Diluted)
7.83 13.85 17.85 (1.12) (20.88) (7.15) (8.30) (3.67) (18.36) 2.48
LMT
Lockheed Martin Corp

A long-cycle defense contractor with recovering margins and volatile cash timing

Overvalued by 1%
GD
General Dynamics Corp

A diversified defense contractor with steady growth and durable cash generation

Undervalued by 2%
HWM
Howmet Aerospace Inc

Aerospace-led industrial growth with expanding margins and increasingly dependable cash generation

Overvalued by 37%
NOC
Northrop Grumman Corp

A moderate-growth defense contractor with durable cash generation and program-sensitive margins

Fairly Valued

Continue BCO Research

Summary
BCO intrinsic value, competitors valuation, and company profile.
DCF Valuation
BCO stock valuation using Discount Cash Flow valuation method.
Relative Valuation
BCO stock valuation using valuation multiples.
Wall St Estimates
BCO price targets and financial estimates made by Wall Street analysts.
Profitability
Detailed analysis of the company's profitability.
Solvency
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
BCO stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall St Estimates
Profitability
Solvency
Financials
Discount Rate
Other Boeing Co listings:
NYSE • USD
BA
 XETRA • EUR
BCO
 F • EUR
BCO
 XHAM • EUR
BCO
 BMV • MXN
BA
 LSE • USD
0BOE
 SWB • EUR
BCO
 DUS • EUR
BCO
 XHAN • EUR
BCO
ALPHA SPREAD
Follow us
Join 358,600+ value investors using Alpha Spread
Create Free Account
or see our plans & pricing

Company

About Us Careers Pricing Affiliate Program Terms of Service Privacy Policy

Help

What is Intrinsic Value? Help Center Contact Us

Tools

Stock Screener Valuation Backtest Intrinsic Value Calculator DCF Value Calculator Discount Rate Calculator

Stocks

Most Undervalued Stocks Wide Economic Moat Stocks High Profitability Stocks High Solvency Stocks Most Popular Stocks

© 2026 Alpha Spread Limited. All Rights Reserved.

www.alphaspread.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on www.alphaspread.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. In no event shall Alpha Spread Limited be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on www.alphaspread.com, or relating to the use of, or inability to use, www.alphaspread.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance.