Financials Boeing

Equities

BA

US0970231058

Aerospace & Defense

Market Closed - Nyse Other stock markets 21:00:02 12/12/2025 GMT			5-day change	1st Jan Change
204.38 ^USD	+1.83%		+1.23%	+15.47%

12-13	Engine failure forces United Airlines flight to return to DC-area airport	RE
12-13	US president's new Air Force One jet from Boeing delayed again	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	88,054	96,151	110,029
Change	-	7.1%	6.94%	16.79%	-14.5%	32.38%	9.2%	14.43%
EBITDA ¹	-10,521	-758	-1,568	1,088	-8,871	-2,002	6,178	10,034
Change	-	92.8%	-106.86%	169.39%	-915.35%	77.43%	408.55%	62.42%
EBIT ¹	-12,767	-2,902	-3,547	-773	-10,707	-3,920	5,109	8,133
Change	-	77.27%	-22.23%	78.21%	-1,285.12%	63.39%	230.34%	59.19%
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	-5,501	3,458	6,757
Change	-	65.23%	0.22%	60.08%	-508.98%	54.95%	162.87%	95.36%
Net income ¹	-11,873	-4,202	-4,935	-2,222	-11,817	-6,185	2,907	5,584
Change	-	64.61%	-17.44%	54.97%	-431.82%	47.66%	147%	92.09%
Announcement Date	27/01/21	26/01/22	25/01/23	31/01/24	28/01/25	-	-	-

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	22,467	22,397	23,987	25,028	25,907	25,060	27,565	29,294
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%	-3.45%	-0.31%	7.1%	4.34%	3.51%	-3.27%	10%	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	1,064	1,117	1,373	1,781	1,625	1,601	2,088	2,263
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%	124.81%	4.97%	22.91%	29.69%	-8.76%	-1.45%	30.39%	8.37%
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	538	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%	111.25%	70.81%	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	141.9	717.3	799.2	266.6	1,468	893.5	1,396	1,596
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%	102.73%	405.62%	11.41%	-66.64%	450.65%	-39.14%	56.28%	14.27%
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	24.08	402.9	537.1	744.3	914.7	1,005	1,337	1,503
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%	100.44%	1,573.48%	33.3%	38.59%	22.89%	9.93%	33%	12.42%
Announcement Date	27/01/21	28/04/21	28/07/21	27/10/21	26/01/22	27/04/22	27/07/22	26/10/22	25/01/23	26/04/23	26/07/23	25/10/23	31/01/24	24/04/24	31/07/24	23/10/24	28/01/25	23/04/25	29/07/25	29/10/25	-	-	-	-	-	-	-	-

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	25,419	21,236	14,195
Change	-	10.17%	-4.96%	-8.64%	-24.1%	-7.84%	-16.46%	-33.16%
Announcement Date	27/01/21	26/01/22	25/01/23	31/01/24	28/01/25	-	-	-

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	2,983	3,441	3,351
Change	-	-24.79%	24.69%	24.96%	46.04%	33.78%	15.34%	-2.63%
Free Cash Flow (FCF) ¹	-19,713	-4,396	2,290	4,433	-14,310	-2,304	2,303	6,974
Change	-	77.7%	152.09%	93.58%	-422.81%	83.9%	199.95%	202.82%
Announcement Date	27/01/21	26/01/22	25/01/23	31/01/24	28/01/25	-	-	-

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%	-2.27%	6.43%	9.12%
EBIT Margin (%)	-21.95%	-4.66%	-5.33%	-0.99%	-16.1%	-4.45%	5.31%	7.39%
EBT Margin (%)	-24.89%	-8.08%	-7.54%	-2.58%	-18.36%	-6.25%	3.6%	6.14%
Net margin (%)	-20.42%	-6.75%	-7.41%	-2.86%	-17.77%	-7.02%	3.02%	5.08%
FCF margin (%)	-33.9%	-7.06%	3.44%	5.7%	-21.51%	-2.62%	2.4%	6.34%
FCF / Net Income (%)	166.03%	104.62%	-46.4%	-199.5%	121.1%	37.25%	79.22%	124.89%
Profitability
ROA	-8.31%	-2.89%	-3.58%	-1.62%	-2.89%	-5.26%	1.5%	3.23%
ROE	-	-	-	-	-	-	6.77%	142%
Financial Health
Leverage (Debt/EBITDA)	-3.61x	-55.22x	-25.37x	33.4x	-3.11x	-12.7x	3.44x	1.41x
Debt / Free cash flow	-1.93x	-9.52x	17.37x	8.2x	-1.93x	-11.03x	9.22x	2.04x
Capital Intensity
CAPEX / Current Assets (%)	2.24%	1.57%	1.83%	1.96%	3.35%	3.39%	3.58%	3.05%
CAPEX / EBITDA (%)	-12.38%	-129.29%	-77.93%	140.35%	-25.14%	-149%	55.7%	33.39%
CAPEX / FCF (%)	-6.61%	-22.29%	53.36%	34.45%	-15.58%	-129.48%	149.41%	48.04%
Items per share
Cash flow per share ¹	-32.36	-5.81	5.864	9.833	-18.66	1.084	7.613	10.67
Change	-	82.04%	200.94%	67.69%	-289.81%	105.81%	602.36%	40.1%
Dividend per Share ¹	-	-	-	-	-	-	-	0.3465
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	-31.45	-25.47	-26.97	-28.45	-6.038	-11.86	-6.447	2.351
Change	-	19.03%	-5.89%	-5.49%	78.78%	-96.47%	45.66%	136.47%
EPS ¹	-20.88	-7.15	-8.3	-3.67	-18.36	-8.129	3.839	7.17
Change	-	65.76%	-16.08%	55.78%	-400.27%	55.73%	147.23%	86.77%
Nbr of stocks (in thousands)	564,530	587,699	595,983	604,977	748,176	760,095	760,095	760,095
Announcement Date	27/01/21	26/01/22	25/01/23	31/01/24	28/01/25	-	-	-