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Boeing Co BA

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Stock XNYS Rating as of
$164.33 −4.85 (2.87%)
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Company Report

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Boeing Earnings: Paying for Mistakes Made Long Ago, Taking Back the Factory Floor; Fair Value Up 1%

Nicolas Owens

Discussing first-quarter results released April 24, CEO David Calhoun described Boeing asserting control over its manufacturing discipline, prodded in part by the Federal Aviation Administration's late May deadline to publish a safe manufacturing plan. Losses in the quarter reflected necessary slowdowns in the 737 factory, but we believe Boeing can meet our 2024 forecast if it gets the plant rolling and delivers existing jets in the back half. We increased our fair value estimate by $2 per share to $221, mostly for time value of money, offset by the pending acquisition of Spirit AeroSystems and tapering our long-term forecast of 767 deliveries, now only built as a freighter or tanker.

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Price vs Fair Value

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BA is trading at a 23% discount.
Price
$169.18
Fair Value
$695.00
Uncertainty
High
1-Star Price
$868.81
5-Star Price
$119.60
Economic Moat
Plb
Capital Allocation
Ktyjydbv

Bulls Say, Bears Say

Bulls

Boeing has a large backlog that covers several years of production for the most popular aircraft, which gives us confidence in aggregate demand for aerospace products.

Bears

Boeing's reputation for engineering prowess may have taken a permanent hit since repeated manufacturing flaws in 737 MAX jets have hampered Boeing's assembly pace and disrupted airlines' and passengers' schedules.

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Trading Information

Previous Close Price
$169.18
Day Range
$162.74–177.64
52-Week Range
$162.74–267.54
Bid/Ask
$162.80 / $162.88
Market Cap
$100.76 Bil
Volume/Avg
20.9 Mil / 7.8 Mil

Key Statistics

Price/Earnings (Normalized)
—
Price/Sales
1.31
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
—

Company Profile

Boeing is a major aerospace and defense firm. It operates in three segments: commercial airplanes, defense, space & security, and Global services. Boeing's commercial airplanes segment competes with Airbus in the production of aircraft that can carry more than 130 passengers. Boeing's defense, space, and security segment competes with Lockheed, Northrop, and several other firms to create military aircraft and weaponry. Global services provides aftermarket support to airlines.
Sector
Industrials
Industry
Aerospace & Defense
Stock Style Box
Large Core
Total Number of Employees
171,000
Website
https://www.boeing.com

Competitors

Valuation

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Metric
BA
LMT
AIR
Price/Earnings (Normalized)
 —16.5635.69
Price/Book Value
 —16.507.18
Price/Sales
 1.311.631.95
Price/Cash Flow
 53.6713.7525.25
Price/Earnings
BA
LMT
AIR

Financial Strength

Metric
BA
LMT
AIR
Quick Ratio
 0.280.990.54
Current Ratio
 1.141.211.19
Interest Coverage
 0.189.846.35
Quick Ratio
BA
LMT
AIR

Profitability

Metric
BA
LMT
AIR
Return on Assets (Normalized)
 −1.22%12.47%3.06%
Return on Equity (Normalized)
 —82.57%24.03%
Return on Invested Capital (Normalized)
 0.74%29.85%14.01%
Return on Assets
BA
LMT
AIR
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Aerospace & Defense Industry Comparables

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Economic Moat
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LMT
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GD
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