The Boeing Company

BATS-CHIXE:BCOD Stock Report

Market Cap: €101.5b

Boeing Valuation

Is BCOD 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 BCOD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BCOD (€135.04) is trading below our estimate of fair value (€279.64)

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

Key Valuation Metric

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

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

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

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for BCOD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.6x
BA. BAE Systems
1.6x8.7%UK£39.3b
RR. Rolls-Royce Holdings
2.5x5.5%UK£44.6b
MRO Melrose Industries
1.9x6.9%UK£6.6b
BAB Babcock International Group
0.6x3.7%UK£2.6b
BCOD Boeing
1.5x13.3%€107.5b

Price-To-Sales vs Peers: BCOD is good value based on its Price-To-Sales Ratio (1.5x) compared to the peer average (1.6x).

Price to Sales Ratio vs Industry

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

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
No. of Companies11PS01.22.43.64.86+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BCOD 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 BCOD'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.

BCOD PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.5x
Fair PS Ratio1.2x

Price-To-Sales vs Fair Ratio: BCOD is expensive based on its Price-To-Sales Ratio (1.5x) compared to the estimated Fair Price-To-Sales Ratio (1.2x).

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 BCOD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€135.04
€172.24
+27.5%
17.2%€236.05€80.26n/a24
Nov ’25€142.28
€167.91
+18.0%
17.1%€229.85€79.07n/a24
Oct ’25€138.68
€189.68
+36.8%
14.8%€248.44€99.37n/a24
Sep ’25€153.16
€197.99
+29.3%
10.8%€247.17€166.28n/a25
Aug ’25€177.28
€204.58
+15.4%
11.2%€254.84€162.17n/a25
Jul ’25€175.00
€203.21
+16.1%
11.8%€256.25€163.07n/a25
Jun ’25€159.30
€207.88
+30.5%
13.9%€277.77€162.03n/a27
May ’25€161.96
€211.22
+30.4%
16.1%€280.59€130.94n/a28
Apr ’25€174.22
€226.91
+30.2%
10.5%€279.30€186.20n/a28
Mar ’25€187.90
€238.72
+27.0%
9.7%€277.23€184.82n/a28
Feb ’25€192.38
€237.45
+23.4%
10.7%€289.80€174.80n/a29
Jan ’25€235.00
€243.22
+3.5%
12.2%€290.56€172.52n/a29
Dec ’24€212.20
€228.07
+7.5%
9.6%€275.85€174.71n/a29
Nov ’24€172.72
€227.43
+31.7%
9.9%€260.23€179.80€142.2827
Oct ’24€182.64
€241.94
+32.5%
10.8%€295.09€194.19€138.6823
Sep ’24€206.75
€237.06
+14.7%
10.1%€286.56€194.12€153.1622
Aug ’24€217.20
€230.96
+6.3%
10.6%€282.26€191.21€177.2821
Jul ’24n/a
€216.77
0%
9.8%€270.40€167.26€175.0024
Jun ’24n/a
€220.31
0%
9.3%€272.29€168.43€159.3022
May ’24n/a
€211.34
0%
11.5%€264.00€147.96€161.9621
Apr ’24n/a
€210.43
0%
10.2%€240.62€150.36€174.2220
Mar ’24n/a
€212.69
0%
10.2%€243.62€152.24€187.9021
Feb ’24n/a
€207.80
0%
12.3%€240.62€147.50€192.3820
Jan ’24n/a
€192.10
0%
14.3%€235.53€113.99€235.0020
Dec ’23n/a
€186.24
0%
15.7%€242.18€117.21€212.2020
Nov ’23n/a
€191.55
0%
17.3%€253.05€99.20€172.7221

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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