The Boeing Company

XTRA:BCO Stock Report

Market Cap: €101.5b

Boeing Valuation

Is BCO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BCO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BCO (€137.14) is trading below our estimate of fair value (€299.72)

Significantly Below Fair Value: BCO is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BCO?

Key metric: As BCO is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BCO. This is calculated by dividing BCO's market cap by their current revenue.
What is BCO's PS Ratio?
PS Ratio1.5x
SalesUS$73.29b
Market CapUS$107.50b

Price to Sales Ratio vs Peers

How does BCO's PS Ratio compare to its peers?

The above table shows the PS ratio for BCO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2x
RHM Rheinmetall
3x20.1%€26.3b
MTX MTU Aero Engines
2.4x8.7%€16.6b
5UH Hensoldt
2x13.2%€4.1b
OHB OHB
0.9x16.0%€900.2m
BCO Boeing
1.5x13.3%€107.5b

Price-To-Sales vs Peers: BCO is good value based on its Price-To-Sales Ratio (1.5x) compared to the peer average (2x).

Price to Sales Ratio vs Industry

How does BCO's PS Ratio compare vs other companies in the European Aerospace & Defense Industry?

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
BCO 1.5xIndustry Avg. 1.6xNo. of Companies11PS01.22.43.64.86+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BCO is good value based on its Price-To-Sales Ratio (1.5x) compared to the European Aerospace & Defense industry average (1.6x).

Price to Sales Ratio vs Fair Ratio

What is BCO's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BCO PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.5x
Fair PS Ratio0.8x

Price-To-Sales vs Fair Ratio: BCO is expensive based on its Price-To-Sales Ratio (1.5x) compared to the estimated Fair Price-To-Sales Ratio (0.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BCO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€137.14
€172.24
+25.6%
17.2%€236.05€80.26n/a24
Nov ’25€141.90
€167.91
+18.3%
17.1%€229.85€79.07n/a24
Oct ’25€139.34
€189.68
+36.1%
14.8%€248.44€99.37n/a24
Sep ’25€155.98
€197.99
+26.9%
10.8%€247.17€166.28n/a25
Aug ’25€166.30
€204.58
+23.0%
11.2%€254.84€162.17n/a25
Jul ’25€173.36
€203.21
+17.2%
11.8%€256.25€163.07n/a25
Jun ’25€160.58
€207.88
+29.5%
13.9%€277.77€162.03n/a27
May ’25€162.04
€211.22
+30.3%
16.1%€280.59€130.94n/a28
Apr ’25€178.04
€226.91
+27.4%
10.5%€279.30€186.20n/a28
Mar ’25€185.64
€238.72
+28.6%
9.7%€277.23€184.82n/a28
Feb ’25€191.40
€237.45
+24.1%
10.7%€289.80€174.80n/a29
Jan ’25€235.00
€243.22
+3.5%
12.2%€290.56€172.52n/a29
Dec ’24€215.05
€228.07
+6.1%
9.6%€275.85€174.71n/a29
Nov ’24€179.84
€227.43
+26.5%
9.9%€260.23€179.80€141.9027
Oct ’24€181.10
€241.94
+33.6%
10.8%€295.09€194.19€139.3423
Sep ’24€206.55
€237.06
+14.8%
10.1%€286.56€194.12€155.9822
Aug ’24€218.25
€230.96
+5.8%
10.6%€282.26€191.21€166.3021
Jul ’24€194.02
€216.77
+11.7%
9.8%€270.40€167.26€173.3624
Jun ’24€195.46
€220.31
+12.7%
9.3%€272.29€168.43€160.5822
May ’24€185.90
€211.34
+13.7%
11.5%€264.00€147.96€162.0421
Apr ’24€195.54
€210.43
+7.6%
10.2%€240.62€150.36€178.0420
Mar ’24€189.56
€212.69
+12.2%
10.2%€243.62€152.24€185.6421
Feb ’24€196.32
€207.80
+5.8%
12.3%€240.62€147.50€191.4020
Jan ’24€175.88
€192.10
+9.2%
14.3%€235.53€113.99€235.0020
Dec ’23€168.92
€186.24
+10.3%
15.7%€242.18€117.21€215.0520
Nov ’23€146.38
€191.55
+30.9%
17.3%€253.05€99.20€179.8421

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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