BOEING COBA
BOEING CO Financial Overview 2021–2025
Updated Jul 10, 2026In FY2025, Boeing delivered a $4.3 billion operating profit after suffering an $11.8 billion net loss in FY2024, signaling a sharp pivot from prolonged production crises toward operational stability. The central investment thesis hinges on Boeing's ability to convert its massive aircraft order book into cash while integrating the recently acquired Spirit AeroSystems to stabilize a fractured manufacturing supply chain.
Top-line recovery anchors this trajectory, as total revenue climbed from $62.3 billion in FY2021 to $89.5 billion in FY2025. A 34.5% year-over-year revenue surge in FY2025 overcame severe operational headwinds, including earlier 737-9 groundings and a late FY2024 labor strike. Commercial demand pushed total backlog to $682.2 billion by the end of FY2025. To survive the cash burn leading up to this operational inflection, Boeing diluted shareholders by raising $18.2 billion via common stock in FY2024 and sold its Digital Aviation Solutions unit for $10.55 billion the following year.
While Boeing posted $2.2 billion in GAAP net earnings in FY2025, preferred stock dividends left common shareholders with a $1.89 billion net loss. Investors heavily priced in the realization of future cash flows; the stock traded at $217.12 per share with an 87.5x earnings multiple at the close of FY2025, valuing the aerospace manufacturer at a $219.8 billion market capitalization.
Recent Developments (Q4 2025 and Q1 2026)
In Q1 2026, revenues grew 14.5% year-over-year to $22.2 billion, driven by Commercial Airplanes and Defense segment sales. Despite this top-line expansion, the Commercial Airplanes division saw operating losses worsen to $563 million. The company narrowed its quarterly net loss to $90 million, or $0.11 per share, while reducing total debt from $54.1 billion to $47.2 billion. Inventory expanded to $87.2 billion, and the balance sheet absorbed $10.36 billion in goodwill from the Spirit AeroSystems purchase. In April 2026, shareholders elected all director nominees.
Bulls highlight accelerating sales and aggressive debt reduction as indicators of structural recovery. Conversely, bears warn of persistent core unprofitability and ongoing reach-forward losses on fixed-price defense contracts. The stock appears richly valued at a 93.3x earnings multiple as of April 22, 2026, reflecting steep expectations for future margin expansion.
What to watch: operating margin trajectory in the Commercial Airplanes segment; progress mitigating losses on fixed-price defense contracts
Rev
$89.46B
FY2025
NI
$2.23B
FY2025
EPS$BA
$2.49
FY2025
OCF
$1.06B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
BOEING CO 8-K Report, Financial Results (Apr 22, 2026)
The Boeing Company (BA) has filed a Current Report on Form 8-K, primarily to furnish a press release detailing its financial results for the first quarter of 2026, issued on April 22, 2026. This filing serves as the primary channel for investors to access the company's latest financial performance and operational updates. While the 8-K itself does not contain detailed financial figures, it directs investors to the accompanying press release (Exhibit 99.1) for comprehensive information on revenues, earnings, and other key financial metrics for the period ending March 31, 2026. Investors should review the furnished press release to understand Boeing's financial condition and operational results. Key areas of focus will likely include the company's performance in its commercial airplanes, defense, space, and security segments, as well as any forward-looking statements or guidance provided by management regarding future expectations. This report is critical for assessing the company's trajectory and making informed investment decisions.
BOEING CO 8-K Report, Shareholder Vote Results (Apr 17, 2026)
Boeing Co. (BA) filed an 8-K report on April 17, 2026, detailing the final voting results from its Annual Meeting of Shareholders. All director nominees were overwhelmingly elected, indicating strong shareholder confidence in the current board's leadership. The company also received advisory approval for its Named Executive Officer compensation, suggesting alignment between executive pay and shareholder expectations. Furthermore, the appointment of Deloitte & Touche LLP as the independent auditor for 2026 was ratified by a substantial majority, reinforcing governance and financial oversight. However, two shareholder proposals failed to garner majority support: a proposal for a Board Committee on Disability Access and a proposal allowing for action by written consent. These outcomes suggest that while shareholders are supportive of the company's existing governance structure and executive compensation, they are less inclined to adopt measures that could significantly alter board composition or shareholder rights regarding corporate actions. Investors should monitor any future communications regarding these specific shareholder concerns.
BOEING CO 8-K Report, Financial Results (Jan 27, 2026)
The Boeing Company (BA) has filed a Form 8-K to report its fourth-quarter and full-year 2025 financial results, which were released on January 27, 2026. While the filing itself does not contain the detailed financial figures, it directs investors to the furnished press release (Exhibit 99.1) for comprehensive information regarding the company's operational performance and financial condition for the period ending December 31, 2025. Investors should review the press release for key metrics such as revenue, earnings per share (EPS), free cash flow, and any guidance provided for the upcoming fiscal year 2026. Particular attention should be paid to any commentary on commercial aircraft deliveries, defense segment performance, and significant operational developments that may have impacted the quarter's results. This filing serves as a notification of the release of these results, with the detailed analysis residing in the accompanying press release.
BOEING CO 8-K Report, Regulation FD Disclosure (Dec 8, 2025)
The Boeing Company (BA) announced the successful completion of its acquisition of Spirit AeroSystems Holdings, Inc. on December 8, 2025. This strategic move, detailed in a press release furnished with this 8-K filing, marks a significant development for Boeing, consolidating its supply chain and potentially enhancing its production capabilities and efficiency in the long term. This acquisition is expected to have a material impact on Boeing's operations and financial performance. Investors will be closely watching how Boeing integrates Spirit AeroSystems, particularly regarding the realization of expected synergies, any adjustments to production schedules, and the impact on cost structures. The completion of this deal signifies Boeing's commitment to strengthening its core aerospace manufacturing business.
BOEING CO 8-K Report, Executive Changes (Dec 3, 2025)
The Boeing Company announced a significant change to its Board of Directors with the election of Bradley D. Tilden as a new director, effective December 3, 2025. Mr. Tilden, a seasoned executive with previous leadership roles at Alaska Air Group, Inc., brings valuable industry experience to Boeing's board. His appointment is expected to strengthen the oversight and strategic direction of the company, particularly given his intended roles on the Aerospace Safety Committee and the Finance Committee. This move signals a continued focus on governance and operational excellence within Boeing.
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