Boeing Co (BA) stock analysis
Close on Nov 11, 2026Market cap $138.31BP/E 18.6Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed10 of 30 checks passed
Boeing passes 10 of the 30 checks behind our score; 15 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 3/6
- Growth
- 3/6
- Past performance
- 3/6
- Financial health
- 1/6
- Dividend
- 0/6
What stands out
Margin of safety over 20%
The price is 28.0% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $174.54 is below our fair value estimate of $242.40.
Return on capital over 10%
Return on invested capital was 35.3%, above the 10% that usually covers the cost of capital.
Revenue growing 10%+ a year
Revenue grew 10.3% a year over the last three fiscal years.
What to watch
High debt
Debt is 701% of shareholders' equity, above the 40% we consider low.
Debt not well covered by cash flow
Operating cash flow over the last twelve months equals 8.7% of total debt; we look for at least 20%.
Elevated bankruptcy risk
The Altman Z-score is 1.49; above 3 is the safe zone and below 1.8 the distress zone.
P/B above the industry
Boeing's price-to-book of 21.13 is above the Aircraft and Parts median of 2.88.
Valuation3/6
P/E against its history
Not enough price and earnings history to compare.
P/E below the industry
Boeing's P/E of 18.6 is below the Aircraft and Parts median of 27.6.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B above the industry
Boeing's price-to-book of 21.13 is above the Aircraft and Parts median of 2.88.
Trading below fair value
The share price of $174.54 is below our fair value estimate of $242.40.
Margin of safety over 20%
The price is 28.0% below fair value, more than the 20% cushion we look for.
Growth3/6
Revenue growing 10%+ a year
Revenue grew 10.3% a year over the last three fiscal years.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 17.5% over the last twelve months; the Aircraft and Parts median is 16.9%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin improving
Gross margin was 9.4% over the last twelve months, against 1.1% a year earlier.
Past performance3/6
Return on equity
Needs positive equity and five years of results.
Return on capital over 10%
Return on invested capital was 35.3%, above the 10% that usually covers the cost of capital.
Return on equity against the industry
Needs positive equity.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 8.1% over the last twelve months, against a 5-year average of -6.5%.
Net margin above the industry
Boeing's net margin of 8.1% is above the Aircraft and Parts median of 5.5%.
Financial health1/6
High debt
Debt is 701% of shareholders' equity, above the 40% we consider low.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt not well covered by cash flow
Operating cash flow over the last twelve months equals 8.7% of total debt; we look for at least 20%.
Interest coverage
Interest expense is not reported separately.
Short-term assets cover short-term debts
Current assets are 1.13 times current liabilities.
Elevated bankruptcy risk
The Altman Z-score is 1.49; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
Boeing has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itOur estimate per share
$242.40
The share price is 28% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 27.6× | – | 27.6× | $259.73 | 53% |
| EV/EBITDA | 16.8× | – | 16.8× | $222.59 | 47% |
| P/Bleft out, too far from the others | 2.9× | – | 2.9× | $23.80 | – |
| Fair value | $242.40 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Aircraft and Parts median 27.6
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $1.73B
- Value traded per 1% price move
- $1.12B
Downside
Low risk
- Typical loss in a bad month
- 14.8%
- Volatility (annualized)
- 35%
- Sharpe ratio, 1 year
- -0.42
- Beta to the S&P 500 (5Y)
- 1.26
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +34.5% | +10.3% | +9.0% | -0.7% | |
| Gross profit | – | +6.7% | – | -11.2% | |
| Operating income | – | – | – | -5.4% | |
| Net income | – | – | – | -8.1% | |
| EPS, diluted | – | – | – | -10.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 140.8% | 88.2% | 289.1% | |
| Return on assets | 5.5% | -8.3% | 1.4% | |
| Current ratio | 1.25 | 1.39 | 1.19 | |
| Debt to equity | 12.18 | -3.47 | 9.92 | |
| Net debt to EBITDA | 0.13× | -5.30× | 6.93× | |
| Capex to revenue | 2.8% | 2.2% | 3.3% | |
| Diluted shares | 643M | 569M | 762M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Boeing generated $26.03B from operations and spent $9.23B on capital expenditure, dividends and share buybacks. 96% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 2.5% | 0.55× | 209.96× | 289.1% |
| FY2024 | -17.8% | 0.45× | -13.88× | 111.8% |
| FY2023 | -2.9% | 0.57× | -8.28× | 13.4% |
| FY2022 | -7.4% | 0.48× | -8.93× | 32.0% |
| FY2021 | -6.7% | 0.43× | -8.73× | 25.2% |
| FY2020 | -20.4% | 0.41× | -10.61× | 88.2% |
| FY2019 | -0.8% | 0.61× | -30.32× | 15.4% |
| FY2018 | 10.3% | 0.88× | 115.15× | 1048.6% |
| FY2017 | 9.0% | 0.93× | 81.83× | 684.0% |
| FY2016 | 5.4% | 1.01× | 25.78× | 140.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$2.24B
- Cash generatingOperating cash flow above zero$1.07B
- Return on assets improvedROA up on the prior year-8.6% → 1.4%
- Earnings backed by cashOperating cash flow above net income$1.07B vs $2.24B
- Less leverageLong-term debt to assets fell33.6% → 27.1%
- Better liquidityCurrent ratio rose1.32 → 1.19
- No dilutionShare count did not rise647M → 762M
- Gross margin improvedGross margin up on the prior year-2.99% → 4.79%
- More efficientAsset turnover rose0.49 → 0.57
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