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Boeing

NYSE:BA
Snowflake Description

Reasonable growth potential and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BA
NYSE
$70B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The last earnings update was 64 days ago. More info.


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  • Boeing has significant price volatility in the past 3 months.
BA Share Price and Events
7 Day Returns
-23.1%
NYSE:BA
-8.3%
US Aerospace & Defense
-4.1%
US Market
1 Year Returns
-68.2%
NYSE:BA
-16.5%
US Aerospace & Defense
-14.9%
US Market
BA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Boeing (BA) -23.1% -52.2% -62.6% -68.2% -30.4% -19.3%
US Aerospace & Defense -8.3% -26.6% -32.4% -16.5% -3.9% 19.7%
US Market -4.1% -19.1% -23.4% -14.9% 3.5% 14.5%
1 Year Return vs Industry and Market
  • BA underperformed the Aerospace & Defense industry which returned -16.5% over the past year.
  • BA underperformed the Market in United States of America which returned -14.9% over the past year.
Price Volatility
BA
Industry
5yr Volatility vs Market

BA Value

 Is Boeing undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Boeing to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Boeing.

NYSE:BA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 18 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:BA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.84
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.84 (1 + (1- 21%) (40.61%))
1.073
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.073 * 5.44%)
7.58%

Discounted Cash Flow Calculation for NYSE:BA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Boeing is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NYSE:BA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.58%)
2020 -8,173.92 Analyst x12 -7,598.22
2021 10,499.79 Analyst x14 9,072.86
2022 12,039.67 Analyst x9 9,670.75
2023 14,033.17 Analyst x6 10,478.11
2024 14,945.80 Analyst x5 10,373.57
2025 15,628.77 Est @ 4.57% 10,083.60
2026 16,210.27 Est @ 3.72% 9,722.17
2027 16,717.09 Est @ 3.13% 9,319.99
2028 17,170.21 Est @ 2.71% 8,898.41
2029 17,585.63 Est @ 2.42% 8,471.81
Present value of next 10 years cash flows $78,493.00
NYSE:BA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $17,585.63 × (1 + 1.74%) ÷ (7.58% – 1.74%)
$306,537.41
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $306,537.41 ÷ (1 + 7.58%)10
$147,673.30
NYSE:BA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $78,493.00 + $147,673.30
$226,166.30
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $226,166.30 / 564.23
$400.84
NYSE:BA Discount to Share Price
Calculation Result
Value per share (USD) From above. $400.84
Current discount Discount to share price of $124.52
= -1 x ($124.52 - $400.84) / $400.84
68.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Boeing is available for.
Intrinsic value
>50%
Share price is $124.52 vs Future cash flow value of $400.84
Current Discount Checks
For Boeing to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Boeing's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Boeing's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Boeing's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Boeing's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:BA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-1.12
NYSE:BA Share Price ** NYSE (2020-04-03) in USD $124.52
United States of America Aerospace & Defense Industry PE Ratio Median Figure of 39 Publicly-Listed Aerospace & Defense Companies 13.28x
United States of America Market PE Ratio Median Figure of 2,944 Publicly-Listed Companies 12.5x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Boeing.

NYSE:BA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:BA Share Price ÷ EPS (both in USD)

= 124.52 ÷ -1.12

-110.82x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Boeing is loss making, we can't compare its value to the US Aerospace & Defense industry average.
  • Boeing is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Boeing's expected growth come at a high price?
Raw Data
NYSE:BA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -110.82x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts
44.8%per year
United States of America Aerospace & Defense Industry PEG Ratio Median Figure of 31 Publicly-Listed Aerospace & Defense Companies 1.65x
United States of America Market PEG Ratio Median Figure of 2,008 Publicly-Listed Companies 0.91x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Boeing, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Boeing's assets?
Raw Data
NYSE:BA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $-15.31
NYSE:BA Share Price * NYSE (2020-04-03) in USD $124.52
United States of America Aerospace & Defense Industry PB Ratio Median Figure of 53 Publicly-Listed Aerospace & Defense Companies 1.76x
United States of America Market PB Ratio Median Figure of 5,142 Publicly-Listed Companies 1.22x
NYSE:BA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:BA Share Price ÷ Book Value per Share (both in USD)

= 124.52 ÷ -15.31

-8.13x

* Primary Listing of Boeing.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Boeing has negative assets, we can't compare the value of its assets to the US Aerospace & Defense industry average.
X
Value checks
We assess Boeing's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. Boeing has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

BA Future Performance

 How is Boeing expected to perform in the next 1 to 3 years based on estimates from 18 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
44.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Boeing expected to grow at an attractive rate?
  • Boeing's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Boeing's earnings growth is expected to exceed the United States of America market average.
  • Boeing's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:BA Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:BA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts 44.8%
NYSE:BA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 18 Analysts 9.4%
United States of America Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 10.8%
United States of America Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:BA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:BA Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 115,040 19,233 14,673 5
2023-12-31 111,998 17,464 14,100 6
2022-12-31 107,588 14,746 10,942 11
2021-12-31 104,078 12,001 8,711 18
2020-12-31 80,264 -6,815 1,394 18
2020-04-04
NYSE:BA Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 76,559 -2,446 -636
2019-09-30 86,989 2,721 3,798
2019-06-30 92,155 9,704 4,994
2019-03-31 100,662 14,974 10,132
2018-12-31 101,127 15,322 10,460
2018-09-30 97,556 15,278 10,356
2018-06-30 96,633 14,115 9,803
2018-03-31 95,426 14,384 9,356
2017-12-31 94,005 13,346 8,458
2017-09-30 92,521 13,275 6,769
2017-06-30 92,196 13,081 7,238
2017-03-31 93,900 11,322 5,255

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Boeing's earnings are expected to grow significantly at over 20% yearly.
  • Boeing's revenue is expected to grow by 9.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:BA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below

All data from Boeing Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BA Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 25.75 26.00 25.49 2.00
2023-12-31 24.07 24.51 23.62 2.00
2022-12-31 18.18 25.14 12.57 6.00
2021-12-31 14.76 22.61 6.30 13.00
2020-12-31 2.40 10.73 -5.15 13.00
2020-04-04
NYSE:BA Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -1.12
2019-09-30 6.69
2019-06-30 8.76
2019-03-31 17.65
2018-12-31 18.04
2018-09-30 17.67
2018-06-30 16.55
2018-03-31 15.66
2017-12-31 14.02
2017-09-30 11.10
2017-06-30 11.74
2017-03-31 8.41

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Boeing is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Boeing's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Boeing has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

BA Past Performance

  How has Boeing performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Boeing's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Boeing does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Boeing's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Boeing's 1-year growth to the US Aerospace & Defense industry average as it is not currently profitable.
Earnings and Revenue History
Boeing's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Boeing Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BA Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 76,559.00 -636.00 3,642.00 3,219.00
2019-09-30 86,989.00 3,798.00 3,858.00 3,322.00
2019-06-30 92,155.00 4,994.00 4,056.00 3,370.00
2019-03-31 100,662.00 10,132.00 4,664.00 3,371.00
2018-12-31 101,127.00 10,460.00 4,525.00 3,269.00
2018-09-30 97,556.00 10,356.00 4,532.00 3,179.00
2018-06-30 96,633.00 9,803.00 4,322.00 3,121.00
2018-03-31 95,426.00 9,356.00 4,155.00 3,107.00
2017-12-31 94,005.00 8,458.00 4,101.00 3,179.00
2017-09-30 92,521.00 6,769.00 3,892.00 3,143.00
2017-06-30 92,196.00 7,238.00 3,892.00 3,232.00
2017-03-31 93,900.00 5,255.00 3,653.00 3,311.00
2016-12-31 93,496.00 5,034.00 4,091.00 3,391.00
2016-09-30 94,858.00 4,290.00 3,548.00 3,571.00
2016-06-30 96,809.00 3,715.00 3,514.00 3,571.00
2016-03-31 96,597.00 5,059.00 3,468.00 3,479.00
2015-12-31 96,114.00 5,176.00 3,525.00 3,331.00
2015-09-30 97,009.00 5,616.00 3,634.00 3,181.00
2015-06-30 94,944.00 5,274.00 3,677.00 3,074.00
2015-03-31 92,446.00 5,817.00 3,835.00 3,007.00
2014-12-31 90,762.00 5,446.00 3,767.00 3,047.00
2014-09-30 90,079.00 5,213.00 3,827.00 3,140.00
2014-06-30 88,425.00 5,011.00 3,851.00 3,145.00
2014-03-31 88,195.00 4,445.00 3,862.00 3,175.00
2013-12-31 86,623.00 4,586.00 3,956.00 3,071.00
2013-09-30 85,140.00 4,331.00 3,799.00 2,976.00
2013-06-30 83,018.00 4,205.00 3,759.00 3,074.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Boeing has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • Boeing used its assets less efficiently than the US Aerospace & Defense industry average last year based on Return on Assets.
  • It is difficult to establish if Boeing improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Boeing's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Boeing has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

BA Health

 How is Boeing's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Boeing's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Boeing is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Boeing's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Boeing's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Boeing has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Boeing Company Filings, last reported 3 months ago.

NYSE:BA Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 -8,300.00 27,073.00 10,030.00
2019-09-30 -3,809.00 24,422.00 10,913.00
2019-06-30 -4,943.00 18,985.00 9,606.00
2019-03-31 232.00 14,744.00 7,729.00
2018-12-31 410.00 13,691.00 8,564.00
2018-09-30 -1,209.00 11,876.00 9,990.00
2018-06-30 -1,374.00 12,118.00 9,770.00
2018-03-31 1,298.00 12,452.00 9,891.00
2017-12-31 1,713.00 10,979.00 9,992.00
2017-09-30 1,145.00 10,768.00 10,032.00
2017-06-30 -1,978.00 10,775.00 10,326.00
2017-03-31 155.00 10,799.00 9,205.00
2016-12-31 877.00 9,952.00 10,029.00
2016-09-30 2,150.00 10,456.00 9,629.00
2016-06-30 647.00 11,015.00 9,265.00
2016-03-31 4,106.00 9,964.00 8,314.00
2015-12-31 6,397.00 9,964.00 12,052.00
2015-09-30 6,786.00 9,016.00 9,819.00
2015-06-30 6,307.00 9,016.00 9,587.00
2015-03-31 8,030.00 9,038.00 9,593.00
2014-12-31 8,790.00 9,070.00 13,054.00
2014-09-30 14,637.00 8,880.00 10,031.00
2014-06-30 14,184.00 8,883.00 11,284.00
2014-03-31 14,633.00 8,935.00 12,178.00
2013-12-31 14,997.00 9,635.00 15,212.00
2013-09-30 9,067.00 9,596.00 15,865.00
2013-06-30 7,632.00 9,578.00 14,279.00
  • Boeing has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Boeing's debt level has increased considering it has negative shareholder equity.
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Boeing's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Boeing's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Boeing has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

BA Dividends

 What is Boeing's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Boeing dividends. Estimated to be 4.29% next year.
If you bought $2,000 of Boeing shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Boeing's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Boeing's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:BA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
United States of America Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 19 Stocks 2.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1941 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2%
United States of America Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:BA Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 8.63 1.00
2023-12-31 8.67 3.00
2022-12-31 6.36 7.00
2021-12-31 4.46 13.00
2020-12-31 4.69 14.00
2020-04-04
NYSE:BA Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-03-23 0.000 0.000
2019-12-16 8.220 3.149
2019-10-21 8.220 2.324
2019-06-24 8.220 2.288
2019-04-29 8.220 2.304
2018-12-17 8.220 2.205
2018-10-22 6.840 2.006
2018-06-25 6.840 1.934
2018-04-30 6.840 1.956
2017-12-11 6.840 2.077
2017-10-30 5.680 2.124
2017-06-26 5.680 2.411
2017-05-01 5.680 3.021
2016-12-12 5.680 3.349
2016-10-31 4.360 2.943
2016-06-27 4.360 3.291
2016-05-02 4.360 3.342
2015-12-14 4.360 3.414
2015-10-26 3.640 2.481
2015-06-22 3.640 2.624
2015-04-27 3.640 2.528
2014-12-15 3.640 2.533
2014-10-27 2.920 2.283
2014-06-23 2.920 2.328
2014-04-28 2.920 2.203
2013-12-16 2.920 2.246
2013-10-28 1.940 1.455
2013-06-24 1.940 1.767
2013-04-29 1.940 1.979
2012-12-17 1.940 2.434
2012-10-31 1.760 2.410
2012-06-25 1.760 2.437
2012-04-30 1.760 2.446
2011-12-12 1.760 2.369
2011-10-31 1.680 2.509
2011-06-27 1.680 2.583
2011-05-02 1.680 2.213
2010-12-13 1.680 2.375
2010-10-25 1.680 2.524
2010-06-21 1.680 2.558
2010-04-26 1.680 2.505
2009-12-14 1.680 2.637
2009-10-26 1.680 3.258
2009-06-22 1.680 3.596
2009-04-28 1.680 3.676

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Boeing has not reported any payouts.
  • Unable to verify if Boeing's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Boeing's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Boeing has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Boeing's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Boeing afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Boeing has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

BA Management

 What is the CEO of Boeing's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dave Calhoun
COMPENSATION $422,390
AGE 61
TENURE AS CEO 0.3 years
CEO Bio

Mr. David L. Calhoun, also known as Dave, served as a Senior Managing Director and Head of Portfolio Operations at The Blackstone Group Inc. He served as Non-Executive Chairman of the Board at Boeing Company since October 2019 until December 23, 2019 and served as its Lead Director since April 30, 2018 until January 13, 2020. He serves as the Director, Chief Executive Officer and President of Boeing Co. since January 13, 2020. He served as Chairman of the Board for Gates Industrial Corporation plc. until January 9, 2020. Mr. Calhoun joined Blackstone in January of 2014 and oversees a team within the portfolio operations group focusing on creating and driving added value initiatives with Blackstone portfolio company Chief Executive Officers. He has been the Chief Executive Officer of Nielsen BuzzMetrics, Inc. since August 2006. He has been the Chairman of the Management Board and Chief Executive Officer of TNC B.V. since September 2006. He serves as the Chairman and Chief Executive Officer of Nielsen Finance LLC, Nielsen Finance Co., and Nielsen Business Media Inc. He serves as an Executive Vice President of MRA Systems, Inc. He served as the Chief Executive Officer of The Nielsen Company B.V. from 2010 to 2013. He served as the Chief Executive Officer of Nielsen (India) Private Limited since August 2006. He served as the Chief Executive Officer of Nielsen Holdings plc from August 2006 to January 1, 2014. He joined Nielsen in 2006. Throughout his seven years’ tenure, he led Nielsen’s transformation into a leading global information and measurement company listed on the NYSE (Ticker: NLSN) and Standard & Poor’s 500 Index. He served as the Principal Accounting Officer and Principal Financial Officer of Nielsen Holdings plc. He served as the Chief Executive Officer of TNC (US) Holdings, Inc., since December 2006. He served as the President and Chief Executive Officer of GE - Transportation, since December 2003 and also served as its Senior Vice President. He served as the President and Chief Executive Officer of GE Aircraft Engines, since December 2000 and also served as its Senior Vice President. He served as the Chief Executive Officer and President of GE Infrastructure since 2005. He served as the President and Chief Executive Officer of GE Transportation Systems of GEFS (Suisse) AG from August 1995 to 1997. He served as the President and Chief Executive Officer of GE Lighting from 1997 to 1999. From 1999 to 2000, he served as the President and Chief Executive Officer of GE Employers Reinsurance Corporation. He served as the President of the Pacific region of GE Plastics from 1994 to 1995. He served as an Executive Officer of General Electric Company since June 1995. He served as Vice President of GE Corporate Audit Staff and an Advisor to the Board of Directors of General Electric Company also served as its Vice Chairman of Infrastructure since July 2005. He joined GE as Corporate Audit Staff in 1981. He held positions of increasing responsibility at GE, including as Manager of Programs and Planning for Corporate Audit Staff since 1986. Earlier in his career at GE, he held a wide range of operating, finance, and marketing roles across the company, including within GE Plastics and GE Capital. He managed GE Capital marketing programs for leveraged buyouts and served as Staff Executive at GE Corporate Executive Office since 1989 and later that year, he moved to GE Plastics, where he served as Manager of Marketing for the Americas. He joined GE in 1979 and served as a Member of its highly respected Financial Management Program. In his twenty-six-year tenure at GE, he ran multiple business units, including GE Lighting, GE Employers Reinsurance Co., GE Aircraft Engines and GE - Transportation. He served as the Chief Executive Officer of Emerald Expositions, Inc. and serves as its Chairman. He had been the Non-Executive Chairman at Caterpillar Inc. from April 1, 2017 until December 12, 2018 and serves as its President Director since December 12, 2018. He has been an Executive Chairman of the Board for The Nielsen Company B.V. since January 2014. He served as an Executive Chairman of Nielsen Holdings plc since January 1, 2014 until January 1, 2016. He served as the Chairman of The Nielsen Company B.V., since August 2006. He serves as Director at Nielsen Holdings plc. He serves as a Vice Chairman of the Board at GE Aviation. He served as an Executive Director of Nielsen Holdings plc since January 31, 2011 until January 1, 2016. He has been an Independent Director of The Boeing Company since June 2009 and an Independent Director of Caterpillar Inc. since June 2011. He served as a Director of Gates Industrial Corporation plc., from November 20, 2017 to January 9, 2020 and has served as a director of Gates entities since 2014. He is a Member of Virginia Tech’s Pamplin Advisory Council, which advises the university on student and alumni issues. He served as a Vice Chairman of General Electric Company. He served as a Director of NeuroFocus, Inc. He served as an Independent Director of Medtronic, Inc. from June 22, 2007 to August 2012. He served as a Director of General Electric Capital Corporation and General Electric Capital Services, Inc. He served as an Independent Director of Nielsen Holdings plc since January 1, 2016 until May 23, 2017. He served as a Director of Nielsen Media Research, Inc. and General Electric Company. He is a Co-Author of a book with Rick Kash titled, How Companies Win. He has extensive executive and management experience. His responsibilities include assisting in conducting due diligence prior to new deals, helping to identify post-acquisition business strategies and aiding the Chief Executive Officers of each portfolio company with various operational challenges. He received the 2016 Chairman award has experience in public company leadership and global operations. He has significant manufacturing and high-technology industry expertise. He completed the GE Financial Management Program in 1981. Mr. Calhoun is a 1979 graduate of Virginia Tech. Mr. Calhoun earned his Bachelor's in Accounting and Business in 1979 from Pamplin College of Business.

CEO Compensation
  • Dave's compensation has increased whilst company is loss making.
  • Dave's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Boeing management team in years:

3.5
Average Tenure
53
Average Age
  • The tenure for the Boeing management team is about average.
Management Team

Dave Calhoun

TITLE
President
COMPENSATION
$422K
AGE
61
TENURE
0.3 yrs

Greg Smith

TITLE
CFO and Executive VP of Enterprise Performance & Strategy
COMPENSATION
$5M
AGE
52
TENURE
8.2 yrs

Tim Keating

TITLE
Executive Vice President of Government Operations
COMPENSATION
$4M
AGE
57
TENURE
11.8 yrs

Stan Deal

TITLE
Executive Vice President
COMPENSATION
$4M
AGE
55
TENURE
6.1 yrs

Jenette Ramos

TITLE
Senior Vice President of Manufacturing
AGE
53
TENURE
2.8 yrs

Andy Ward

TITLE
Chief Investment Officer
AGE
48
TENURE
10.7 yrs

Vishwa Uddanwadiker

TITLE
Interim Chief Information Officer and Senior VP of Information Technology & Data Analytics
TENURE
0.5 yrs

Diana Sands

TITLE
Senior Vice President for Office of Internal Governance & Administration
COMPENSATION
$5M
AGE
53
TENURE
4.1 yrs

Maurita Sutedja

TITLE
Vice President of Investor Relations
TENURE
2.6 yrs

Brett Gerry

TITLE
Senior VP & General Counsel
AGE
47
TENURE
0.9 yrs
Board of Directors Tenure

Average tenure and age of the Boeing board of directors in years:

10
Average Tenure
64.5
Average Age
  • The average tenure for the Boeing board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Larry Kellner

TITLE
Independent Non-Executive Chairman
COMPENSATION
$392K
AGE
60
TENURE
0.3 yrs

Dave Calhoun

TITLE
President
COMPENSATION
$422K
AGE
61
TENURE
10.8 yrs

Art Collins

TITLE
Independent Director
COMPENSATION
$387K
AGE
71
TENURE
13.1 yrs

Ed Liddy

TITLE
Independent Director
COMPENSATION
$336K
AGE
73
TENURE
9.8 yrs

Ron Williams

TITLE
Independent Director
COMPENSATION
$377K
AGE
70
TENURE
9.3 yrs

Lynn Good

TITLE
Independent Director
COMPENSATION
$367K
AGE
59
TENURE
4.7 yrs

Mike Zafirovski

TITLE
Independent Director
COMPENSATION
$367K
AGE
65
TENURE
15.5 yrs

Edmund Giambastiani

TITLE
Independent Director
COMPENSATION
$394K
AGE
70
TENURE
10.5 yrs

Susan Schwab

TITLE
Independent Director
COMPENSATION
$357K
AGE
64
TENURE
10.2 yrs

Bob Bradway

TITLE
Independent Director
COMPENSATION
$354K
AGE
56
TENURE
3.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Boeing's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Boeing has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

BA News

Simply Wall St News

Is Now The Time To Look At Buying The Boeing Company (NYSE:BA)?

The company's stock saw a decent share price growth in the teens level on the NYSE over the last few months. … What’s more interesting is that, Boeing’s share price is quite volatile, which gives us more chances to buy since the share price could sink lower (or rise higher) in the future. … Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations.

Simply Wall St -

Is The Boeing Company’s (NYSE:BA) 31% ROCE Any Good?

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Boeing: 0.31 = US$11b ÷ (US$120b - US$84b) (Based on the trailing twelve months to March 2019.) Therefore, Boeing has an ROCE of 31%. … What Are Current Liabilities, And How Do They Affect Boeing's ROCE? … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE.

Simply Wall St -

How Do Analysts See The Boeing Company (NYSE:BA) Performing In The Next 12 Months?

Looking at The Boeing Company's (NYSE:BA) earnings update in March 2019, analysts seem cautiously bearish, as a 5.8% rise in profits is expected in the upcoming year, relative to the higher past 5-year average growth rate of 18%. … In this article, I've outline a few earnings growth rates to give you a sense of the market sentiment for Boeing in the longer term. … NYSE:BA Past and Future Earnings, June 2nd 2019 From the current net income level of US$10b and the final forecast of US$15b by 2022, the annual rate of growth for BA’s earnings is 16%.

Simply Wall St -

What Did The Boeing Company's (NYSE:BA) CEO Take Home Last Year?

Our data indicates that The Boeing Company is worth US$200b, and total annual CEO compensation is US$23m. … Thus we can conclude that Dennis Muilenburg receives more in total compensation than the median of a group of large companies in the same market as The Boeing Company. … NYSE:BA CEO Compensation, May 25th 2019 Is The Boeing Company Growing?

Simply Wall St -

Is There An Opportunity With The Boeing Company's (NYSE:BA) 42% Undervaluation?

We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $10.58k $16.52k $17.67k $19.44k $21.26k $22.70k $23.97k $25.10k $26.14k $27.11k Growth Rate Estimate Source Analyst x12 Analyst x12 Analyst x7 Analyst x5 Analyst x3 Est @ 6.8% Est @ 5.58% Est @ 4.72% Est @ 4.13% Est @ 3.71% Present Value ($, Millions) Discounted @ 8.6% $9.74k $14.01k $13.79k $13.98k $14.07k $13.84k $13.45k $12.97k $12.44k $11.88k Present Value of 10-year Cash Flow (PVCF)= $130.16b "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = US$27b × (1 + 2.7%) ÷ (8.6% – 2.7%) = US$474b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = $US$474b ÷ ( 1 + 8.6%)10 = $207.70b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is $337.85b.

Simply Wall St -

What Makes The Boeing Company (NYSE:BA) A Great Dividend Stock?

Is The Boeing Company (NYSE:BA) a good dividend stock? How would you know? A dividend paying company with growing earnings can be rewarding in the long term.. … The company also bought back stock during the year, equivalent to approximately 4.2% of the company's market capitalisation at the time. … Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1

Simply Wall St -

The Boeing Company (NYSE:BA): Can Growth Justify Its April Share Price?

The Boeing Company (NYSE:BA) is considered a high-growth stock, but its last closing price of $379.05 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … Let’s look into this by assessing BA's expected growth over the next few years. … The excitement around Boeing's growth potential is not unfounded

Simply Wall St -

Should You Be Adding Boeing (NYSE:BA) To Your Watchlist Today?

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story stocks' without revenue, let alone profit. … One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing. … You can take a look at the company's revenue and earnings growth trend, in the chart below.

Simply Wall St -

Here's What The Boeing Company's (NYSE:BA) P/E Ratio Is Telling Us

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … To keep it practical, we'll show how The Boeing Company's (NYSE:BA) P/E ratio could help you assess the value on offer. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

How The Boeing Company (NYSE:BA) Could Add Value To Your Portfolio

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on The Boeing Company (NYSE:BA) due to its excellent fundamentals in more than one area. … , dividend-paying company with a

Simply Wall St -

BA Company Info

Description

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. The Commercial Airplanes segment provides commercial jet aircraft for passenger and cargo requirements, as well as fleet support services. The Defense, Space & Security segment engages in the research, development, production, and modification of manned and unmanned military aircraft and weapons systems; strategic defense and intelligence systems, which include strategic missile and defense systems, command, control, communications, computers, intelligence, surveillance and reconnaissance, cyber and information solutions, and intelligence systems; and satellite systems, such as government and commercial satellites, and space exploration. The Global Services segment offers products and services, including supply chain and logistics management, engineering, maintenance and modifications, upgrades and conversions, spare parts, pilot and maintenance training systems and services, technical and maintenance documents, and data analytics and digital services to commercial and defense customers. The Boeing Capital segment offers financing services and manages financing exposure for a portfolio of equipment under operating and finance leases, notes and other receivables, assets held for sale or re-lease, and investments. The Boeing Company was founded in 1916 and is based in Chicago, Illinois.

Details
Name: The Boeing Company
BA
Exchange: NYSE
Founded: 1916
$70,257,403,215
564,225,853
Website: http://www.boeing.com
Address: The Boeing Company
100 North Riverside Plaza,
Chicago,
Illinois, 60606-1596,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE BA Common Shares New York Stock Exchange US USD 02. Jan 1968
DB BCO Common Shares Deutsche Boerse AG DE EUR 02. Jan 1968
XTRA BCO Common Shares XETRA Trading Platform DE EUR 02. Jan 1968
LSE BOE Common Shares London Stock Exchange GB USD 02. Jan 1968
ENXTBR BOEI Common Shares Euronext Brussels BE USD 02. Jan 1968
WBAG BA Common Shares Wiener Boerse AG AT EUR 02. Jan 1968
SNSE BA Common Shares Santiago Stock Exchange CL USD 02. Jan 1968
BMV BA * Common Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1968
ETLX BOE-U Common Shares Eurotlx IT EUR 02. Jan 1968
BOVESPA BOEI34 BDR EACH REPR 1 COM SHS Bolsa de Valores de Sao Paulo BR BRL 24. Aug 2012
BASE BA CEDEAR (3 REP 1 USD5) Buenos Aires Stock Exchange AR ARS 13. Mar 2000
Number of employees
Current staff
Staff numbers
161,100
Boeing employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 00:21
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/01
Last earnings filing: 2020/01/31
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.