The Boeing Company (BA) Stock

The Boeing Company (BA) is a Industrials stock trading at $215.10 (as of 2026-08-20), with a market capitalization of $170.01B and a trailing P/E of 69.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

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 leases, sales-type/finance leases, notes and other receivables, assets held for sale or re-lease, and investments. The company was incorporated in 1916 and is based in Chicago, Illinois.

Understand The Boeing Company: how it makes money

Boeing designs, develops, and manufactures commercial jetliners and defense and space systems, and it also sells fleet support services and provides financing through its segments.

Boeing’s profit engine is the mix of four reportable segments (Commercial Airplanes, Defense, Space & Security, Global Services, and Boeing Capital), which together turn aircraft and program activity into revenue while costs and execution determine whether those revenues translate into operating profit.

Revenue by segment (latest quarter)
Commercial Airplanes$10.9B
Defense$4.0B
Global Services$5.4B

Business quality (Mixed): Boeing generated $22.2B of revenue, but its operating margin was 2.0%, so investor focus is on whether deliveries and orders can be translated into earnings rather than cost overruns or delays.

Valuation: At 87× earnings, BA trades 62% above the Aircraft average (54×). Note: one-time items can distort reported P/E.

Bull case

  • Diversified revenue sources across the cycle: Boeing operates through Commercial Airplanes, Defense, Space & Security, Global Services, and Boeing Capital, which spreads revenue across aircraft manufacturing, defense and space programs, services and support, and financing.
  • Active commercial order and delivery flow: In the latest quarter, Boeing Commercial Airplanes deliveries were 143.0 (count) and net orders were 140.0 (count), indicating ongoing demand conversion into delivery activity.

Bear case

  • Thin profitability: Gross margin was 11.5% and operating margin was 2.0%, meaning earnings are sensitive to execution and cost pressure.
  • Earnings risk tied to commercial delivery and order conversion: With commercial deliveries (143.0 count) and net orders (140.0 count) close together, any disruption that affects deliveries or order conversion could have an outsized impact on the ability to earn an operating margin.
Valuation — source: SEC EDGAR (first-party)
Price$215.10
Market Cap$170.01B
P/E Ratio69.8
EV / EBITDA31.2
Price / Book27.80
Price / Sales1.81
FCF Yield-0.1%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$89.46B
Net Margin2.5%
Revenue Growth (YoY)8.0%
EPS Growth (YoY)-27.2%
FCF Growth (YoY)-415.5%
Financial Health — source: SEC EDGAR
Altman Z-Score1.53 (distress)
Piotroski F-Score5/9 (moderate)
Valuation vs Sector & Industry
Stock P/E69.8
Sector P/E (Industrials)25.9
Industry P/E (Aircraft)40.2
vs Sector169.7%
vs Industry73.8%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($15.41B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorIndustrials
IndustryAircraft
CEORobert K. Ortberg
Employees172,000
CountryUS
IPO Date1962-01-02

Related Companies (Business model: Defense & Aerospace Prime (Defense Primes + Commercial Aerospace OEMs); 8 closest by market cap)

  • RTX Corporation (RTX)
  • Lockheed Martin Corporation (LMT)
  • Honeywell International Inc. (HON)
  • TransDigm Group Incorporated (TDG)
  • HEICO Corporation (HEI)
  • Textron Inc. (TXT)
  • HEICO CORP (HEI)
  • Joby Aviation, Inc. (JOBY)
BA earnings history · BA institutional & insider holders · BA KPIs & operating metrics · BA financials · BA investor presentations & press releases · BA SEC filings · BA peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.