Financials Boeing

Equities

BA

US0970231058

Aerospace & Defense

Market Closed - Nyse Other stock markets 16:00:02 2025-12-05 EST			After hours 20:00:00
201.89 ^USD	+0.01%		202.00	+0.05%

08:23pm	Boeing deal with Spirit Aero could close as early as Monday, notice says	RE
06:02pm	US approves potential $111.8 million sale of bomb weapon system to South Korea	RE

Projected Income Statement: Boeing

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	58,158	62,286	66,608	77,794	66,517	88,047	96,008	109,874
Change	-	7.1%	6.94%	16.79%	-14.5%	32.37%	9.04%	14.44%
EBITDA ¹	-10,521	-758	-1,568	1,088	-8,871	-2,021	6,216	10,027
Change	-	92.8%	-106.86%	169.39%	-915.35%	77.21%	407.52%	61.31%
EBIT ¹	-12,767	-2,902	-3,547	-773	-10,707	-3,871	5,140	8,175
Change	-	77.27%	-22.23%	78.21%	-1,285.12%	63.84%	232.77%	59.04%
Interest Paid ¹	-2,156	-2,682	-2,533	-2,459	-2,725	-2,813	-2,606	-2,229
Earnings before Tax (EBT) ¹	-14,476	-5,033	-5,022	-2,005	-12,210	-5,444	3,534	6,774
Change	-	65.23%	0.22%	60.08%	-508.98%	55.42%	164.91%	91.71%
Net income ¹	-11,873	-4,202	-4,935	-2,222	-11,817	-6,126	2,956	5,592
Change	-	64.61%	-17.44%	54.97%	-431.82%	48.16%	148.26%	89.16%
Announcement Date	1/27/21	1/26/22	1/25/23	1/31/24	1/28/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	15,304	15,217	16,998	15,278	14,793	13,991	16,681	15,956	19,980	17,921	19,751	18,104	22,018	16,569	16,866	17,840	15,242	19,496	22,749	23,270	22,457	22,334	23,940	24,996	25,975	25,070	27,575	29,305
Change	-	-0.57%	11.7%	-10.12%	-3.17%	-5.42%	19.23%	-4.35%	25.22%	-10.31%	10.21%	-8.34%	21.62%	-24.75%	1.79%	5.77%	-14.56%	27.91%	16.69%	2.29%	-3.49%	-0.55%	7.19%	4.41%	3.91%	-3.48%	9.99%	6.27%
EBITDA ¹	-7,471	453	1,574	852	-3,637	-683	1,272	-2,306	149	308	357	-341	764	356	-649	-5,317	-3,261	927	284	-4,290	1,024	1,118	1,374	1,782	1,678	1,608	2,095	2,270
Change	-	106.06%	247.46%	-45.87%	-526.88%	81.22%	286.24%	-281.29%	106.46%	106.71%	15.91%	-195.52%	324.05%	-53.4%	-282.3%	-719.26%	38.67%	128.43%	-69.36%	-1,610.56%	123.88%	9.16%	22.89%	29.68%	-5.85%	-4.13%	30.28%	8.35%
EBIT ¹	-8,049	-83	1,023	329	-4,171	-1,169	774	-2,799	-353	-149	-99	-808	283	-86	-1,090	-5,761	-3,770	461	-176	-4,781	597.6	918.9	1,195	1,418	1,572	-	-	-
Change	-	98.97%	1,332.53%	-67.84%	-1,367.78%	71.97%	166.21%	-461.63%	87.39%	57.79%	33.56%	-716.16%	135.02%	-130.39%	-1,167.44%	-428.53%	34.56%	112.23%	-138.18%	-2,616.48%	112.5%	53.77%	30.06%	18.68%	10.83%	-	-	-
Charge d'intérêts ¹	-698	-679	-673	-669	-661	-630	-650	-621	-632	-649	-621	-589	-600	-569	-673	-728	-755	-708	-710	-694	-701.5	-708.5	-688.3	-673.5	-668.2	-687	-687	-640
Earnings before Tax (EBT) ¹	-8,625	-572	549	-310	-4,700	-1,618	377	-3,132	-649	-496	-400	-1,100	-9	-378	-1,515	-6,224	-4,093	76	-561	-5,199	231.5	717.8	799.6	267.1	1,483	900.6	1,404	1,603
Change	-	93.37%	195.98%	-156.47%	-1,416.13%	65.57%	123.3%	-930.77%	79.28%	23.57%	19.35%	-175%	99.18%	-4,100%	-300.79%	-310.83%	34.24%	101.86%	-838.16%	-826.74%	104.45%	209.99%	11.39%	-66.6%	455.32%	-39.28%	55.88%	14.21%
Net income ¹	-8,420	-537	587	-109	-4,143	-1,219	193	-3,275	-634	-414	-149	-1,636	-23	-343	-1,439	-6,170	-3,865	-123	-697	-5,424	108.1	335.9	537.4	744.7	927.4	1,008	1,340	1,507
Change	-	93.62%	209.31%	-118.57%	-3,700.92%	70.58%	115.83%	-1,796.89%	80.64%	34.7%	64.01%	-997.99%	98.59%	-1,391.3%	-319.53%	-328.77%	37.36%	96.82%	-466.67%	-678.19%	101.99%	210.63%	59.97%	38.57%	24.53%	8.74%	32.92%	12.4%
Announcement Date	1/27/21	4/28/21	7/28/21	10/27/21	1/26/22	4/27/22	7/27/22	10/26/22	1/25/23	4/26/23	7/26/23	10/25/23	1/31/24	4/24/24	7/31/24	10/23/24	1/28/25	4/23/25	7/29/25	10/29/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Boeing

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	37,993	41,858	39,781	36,342	27,582	25,554	21,806	14,486
Change	-	10.17%	-4.96%	-8.64%	-24.1%	-7.35%	-14.67%	-33.57%
Announcement Date	1/27/21	1/26/22	1/25/23	1/31/24	1/28/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Boeing

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	1,303	980	1,222	1,527	2,230	2,982	3,407	3,389
Change	-	-24.79%	24.69%	24.96%	46.04%	33.72%	14.24%	-0.5%
Free Cash Flow (FCF) ¹	-19,713	-4,396	2,290	4,433	-14,310	-2,353	2,336	6,896
Change	-	77.7%	152.09%	93.58%	-422.81%	83.56%	199.29%	195.18%
Announcement Date	1/27/21	1/26/22	1/25/23	1/31/24	1/28/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Boeing

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	-18.09%	-1.22%	-2.35%	1.4%	-13.34%	-2.3%	6.47%	9.13%
EBIT Margin (%)	-21.95%	-4.66%	-5.33%	-0.99%	-16.1%	-4.4%	5.35%	7.44%
EBT Margin (%)	-24.89%	-8.08%	-7.54%	-2.58%	-18.36%	-6.18%	3.68%	6.17%
Net margin (%)	-20.42%	-6.75%	-7.41%	-2.86%	-17.77%	-6.96%	3.08%	5.09%
FCF margin (%)	-33.9%	-7.06%	3.44%	5.7%	-21.51%	-2.67%	2.43%	6.28%
FCF / Net Income (%)	166.03%	104.62%	-46.4%	-199.5%	121.1%	38.41%	79.03%	123.32%
Profitability
ROA	-8.31%	-2.89%	-3.58%	-1.62%	-2.89%	-5.26%	1.53%	3.23%
ROE	-	-	-	-	-	-	6.77%	142%
Financial Health
Leverage (Debt/EBITDA)	-3.61x	-55.22x	-25.37x	33.4x	-3.11x	-12.64x	3.51x	1.44x
Debt / Free cash flow	-1.93x	-9.52x	17.37x	8.2x	-1.93x	-10.86x	9.33x	2.1x
Capital Intensity
CAPEX / Current Assets (%)	2.24%	1.57%	1.83%	1.96%	3.35%	3.39%	3.55%	3.08%
CAPEX / EBITDA (%)	-12.38%	-129.29%	-77.93%	140.35%	-25.14%	-147.53%	54.8%	33.8%
CAPEX / FCF (%)	-6.61%	-22.29%	53.36%	34.45%	-15.58%	-126.74%	145.81%	49.15%
Items per share
Cash flow per share ¹	-32.36	-5.81	5.864	9.833	-18.66	0.6713	7.755	11.18
Change	-	82.04%	200.94%	67.69%	-289.81%	103.6%	1,055.13%	44.18%
Dividend per Share ¹	-	-	-	-	-	-	-	0.385
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	-31.45	-25.47	-26.97	-28.45	-6.038	-11.87	-6.465	2.422
Change	-	19.03%	-5.89%	-5.49%	78.78%	-96.52%	45.52%	137.47%
EPS ¹	-20.88	-7.15	-8.3	-3.67	-18.36	-8.065	3.901	7.255
Change	-	65.76%	-16.08%	55.78%	-400.27%	56.07%	148.37%	85.98%
Nbr of stocks (in thousands)	564,530	587,699	595,983	604,977	748,176	760,095	760,095	760,095
Announcement Date	1/27/21	1/26/22	1/25/23	1/31/24	1/28/25	-	-	-