BoeingBA

BoeingBA

Revenue: is the business selling more than it used to?

$89.5B+34% YoYFY 2025

→Revenue reached $89.5B in 2025, compounding +10% a year since 2022 though the path has been bumpy. The trailing twelve months are already running at $94.0B, ahead of the last full year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

Net income: how much of that revenue becomes profit?

$2.2BFY 2025

→Net income was $2.2B in 2025, against $-11.8B the year before. Trailing twelve-month profit stands at $2.4B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

How fast is it growing, year by year?

+34.5%revenue growth, FY 2025

→Revenue grew +34% in 2025 against a five-year average of +10%.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

Revenue per share: is your slice growing as fast as the company?

$117.36revenue per share, FY 2025

→Revenue per share reached $117.36 in 2025, compounding +2% a year against +10% for BA as a whole. Dilution absorbed about 8.8 points of that growth. Free cash flow per share stands at $-2.46.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

Free cash flow: what is left in real cash after everything?

$-1.9BFY 2025

→The business consumed $1.9B of cash in 2025 after investment. Growth is being funded from the balance sheet, not from operations.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

Where does each dollar of revenue actually go?

→Of $89.5B in 2025 sales, $2.2B reaches net profit - 2 cents on the dollar. The largest single deduction is producing the product ($85.2B).

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

How much of every sales dollar ends up as free cash?

→Free cash flow is negative, so no share of revenue is currently converting to spare cash. Every sales dollar is being reinvested or consumed.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

What does staying competitive cost, per dollar of sales?

→The biggest claim on each sales dollar is research and development, at 4% of revenue (capital spending 3%, stock compensation 0%).

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

When sales grow, do profits grow faster?

→Operating profit outgrew revenue in only 2 of the last 5 years. Costs are growing roughly in step with the business, so scale isn't yet paying for itself.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

Margins: of every $1 of sales, how much survives each cost layer?

→Operating margin widened 10 points to 5% since 2022. After everything, 2 cents of each sales dollar reaches net profit.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

What does it earn on the money it uses?

→ROE of 40% sits well above ROCE of 7%. A meaningful share of the shareholder return is manufactured with leverage rather than operations.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

What has the market paid for BA over time?

66.4xP/E today

→At 66.4x earnings, the market is paying +290% more than BA's own 5-year median of 17.0x. Expectations are elevated, so more has to go right to justify the price.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

What cash return does the business throw off per dollar of market value?

-0.1%FCF yield today

→Every dollar of market value currently buys -0.1% of annual free cash flow, less than its 11-year median of 2.3% - you are paying up for the same cash.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

Could it handle its debt if things went wrong?

→Debt of $50.2B sits against $7.2B of cash, or 8.2x shareholders' equity.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

Is the company's own capital growing?

→The company's own capital grew from $-17.2B in 2023 to $6.1B. The business is building book value rather than consuming it.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

How much goes back, and how much leaks out as stock comp?

→Shareholders received $2.7B in buybacks and $331M in dividends in 2019. Stock compensation issued $426M of new shares in the same year, offsetting 14% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

How fast is your ownership being diluted - or concentrated?

→The share count grew 17.8% in 2025, averaging 8.8% a year over three years. Your slice of the company shrinks by that much each year unless earnings grow faster.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

Is the dividend cheque growing?

→The dividend per share reached $0.43 in 2025, compounding -27% a year since 2020.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

Can it afford the dividend?

→The dividend consumed 15% of profit and 29% of free cash flow in 2025. That leaves room to keep paying through a weak year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

Does BA earn more on its capital than that capital costs?

→BA earns 7.1% on the capital it employs, below the 10% most investors treat as the cost of capital.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

BA has issued or retired shares - did shareholders end up better off?

→BA issued +2% more shares from 2011 to 2025, but revenue per share still rose +28%. The dilution bought more growth than it cost existing holders.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

BoeingBA

Are the people running it buying or selling?

→Insiders bought $799,311 and sold $351,484 on the open market, a net purchase of $447,827. A further 15 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30