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Boeing

NYSE:BA
Snowflake Description

Established dividend payer with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BA
NYSE
$236B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

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 last earnings update was 10 days ago. More info.


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  • Boeing has significant price volatility in the past 3 months.
BA Share Price and Events
7 Day Returns
3.5%
NYSE:BA
2.1%
US Aerospace & Defense
1.2%
US Market
1 Year Returns
17.7%
NYSE:BA
-8.8%
US Aerospace & Defense
0.9%
US Market
BA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Boeing (BA) 3.5% 14.6% 31.6% 17.7% 256.1% 222.5%
US Aerospace & Defense 2.1% 10.1% -0.7% -8.8% 50.5% 57.3%
US Market 1.2% 6.6% 1.2% 0.9% 44.3% 41.3%
1 Year Return vs Industry and Market
  • BA outperformed the Aerospace & Defense industry which returned -8.8% over the past year.
  • BA outperformed the Market in United States of America which returned 0.9% over the past year.
Price Volatility
BA
Industry
5yr Volatility vs Market

BA Value

 Is Boeing undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Boeing to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Boeing.

NYSE:BA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 21 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:BA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.911 (1 + (1- 21%) (5.86%))
0.953
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.953 * 7.27%)
9.66%

Discounted Cash Flow Calculation for NYSE:BA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Boeing is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:BA DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 14,904.27 16,268.91 17,660.00 19,204.80 21,395.00
Source Analyst x11 Analyst x11 Analyst x7 Analyst x5 Analyst x2
Present Value
Discounted (@ 9.66%)
13,591.12 13,528.43 13,391.35 13,279.69 13,490.71
Present value of next 5 years cash flows $67,281.30
NYSE:BA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $21,395.00 × (1 + 2.73%) ÷ (9.66% – 2.73%)
$317,074.75
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $317,074.75 ÷ (1 + 9.66%)5
$199,932.88
NYSE:BA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $67,281.30 + $199,932.88
$267,214.17
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $267,214.17 / 564.99
$472.96
NYSE:BA Discount to Share Price
Calculation Result
Value per share (USD) From above. $472.96
Current discount Discount to share price of $417.97
= -1 x ($417.97 - $472.96) / $472.96
11.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Boeing is available for.
Intrinsic value
12%
Share price is $417.97 vs Future cash flow value of $472.96
Current Discount Checks
For Boeing to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Boeing's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Boeing's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Boeing's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Boeing's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:BA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $18.04
NYSE:BA Share Price ** NYSE (2019-02-15) in USD $417.97
United States of America Aerospace & Defense Industry PE Ratio Median Figure of 41 Publicly-Listed Aerospace & Defense Companies 20.49x
United States of America Market PE Ratio Median Figure of 3,045 Publicly-Listed Companies 16.97x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Boeing.

NYSE:BA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:BA Share Price ÷ EPS (both in USD)

= 417.97 ÷ 18.04

23.17x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Boeing is overvalued based on earnings compared to the US Aerospace & Defense industry average.
  • Boeing is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Boeing's expected growth come at a high price?
Raw Data
NYSE:BA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.17x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 21 Analysts
10.2%per year
United States of America Aerospace & Defense Industry PEG Ratio Median Figure of 34 Publicly-Listed Aerospace & Defense Companies 1.74x
United States of America Market PEG Ratio Median Figure of 2,115 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

NYSE:BA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.17x ÷ 10.2%

2.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Boeing is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Boeing's assets?
Raw Data
NYSE:BA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $0.60
NYSE:BA Share Price * NYSE (2019-02-15) in USD $417.97
United States of America Aerospace & Defense Industry PB Ratio Median Figure of 54 Publicly-Listed Aerospace & Defense Companies 2.54x
United States of America Market PB Ratio Median Figure of 5,122 Publicly-Listed Companies 1.82x
NYSE:BA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:BA Share Price ÷ Book Value per Share (both in USD)

= 417.97 ÷ 0.60

699.87x

* Primary Listing of Boeing.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Boeing is overvalued based on assets compared to the US Aerospace & Defense industry average.
X
Value checks
We assess Boeing's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. Boeing has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

BA Future Performance

 How is Boeing expected to perform in the next 1 to 3 years based on estimates from 21 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Boeing expected to grow at an attractive rate?
  • Boeing's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Boeing's earnings growth is positive but not above the United States of America market average.
  • Boeing's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:BA Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:BA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 21 Analysts 10.2%
NYSE:BA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 21 Analysts 6%
United States of America Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 10.1%
United States of America Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 5.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:BA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 21 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:BA Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 134,391 25,513 19,069 2
2022-12-31 128,486 21,880 16,177 4
2021-12-31 124,737 20,583 14,909 11
2020-12-31 117,909 18,872 13,631 21
2019-12-31 111,142 17,416 12,504 20
NYSE:BA Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 101,127 15,322 10,460
2018-09-30 96,943 15,276 10,095
2018-06-30 96,020 14,113 9,542
2018-03-31 94,813 14,382 9,095
2017-12-31 94,005 13,346 8,458
2017-09-30 92,521 13,275 6,769
2017-06-30 92,196 13,081 7,238
2017-03-31 93,900 11,322 5,255
2016-12-31 93,496 10,496 5,034
2016-09-30 94,858 10,786 4,290
2016-06-30 96,809 10,443 3,715
2016-03-31 96,597 10,550 5,059

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Boeing's earnings are expected to grow by 10.2% yearly, however this is not considered high growth (20% yearly).
  • Boeing's revenue is expected to grow by 6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:BA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 21 Analyst Estimates (S&P Global) See Below

All data from Boeing Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BA Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 35.16 35.16 35.16 1.00
2022-12-31 30.44 31.82 28.96 3.00
2021-12-31 28.18 30.52 24.98 8.00
2020-12-31 24.98 26.82 23.10 13.00
2019-12-31 22.10 22.71 20.83 14.00
NYSE:BA Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 18.04
2018-09-30 17.23
2018-06-30 16.11
2018-03-31 15.23
2017-12-31 14.02
2017-09-30 11.10
2017-06-30 11.74
2017-03-31 8.41
2016-12-31 7.91
2016-09-30 6.61
2016-06-30 5.60
2016-03-31 7.48

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Boeing is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Boeing's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Boeing has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

BA Past Performance

  How has Boeing performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Boeing's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Boeing's year on year earnings growth rate has been positive over the past 5 years.
  • Boeing's 1-year earnings growth exceeds its 5-year average (23.7% vs 16.7%)
  • Boeing's earnings growth has not exceeded the US Aerospace & Defense industry average in the past year (23.7% vs 27.2%).
Earnings and Revenue History
Boeing's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Boeing Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BA Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 101,127.00 10,460.00 4,424.00 3,269.00
2018-09-30 96,943.00 10,095.00 4,539.00 3,179.00
2018-06-30 96,020.00 9,542.00 4,313.00 3,121.00
2018-03-31 94,813.00 9,095.00 4,162.00 3,107.00
2017-12-31 94,005.00 8,458.00 3,978.00 3,179.00
2017-09-30 92,521.00 6,769.00 3,801.00 3,143.00
2017-06-30 92,196.00 7,238.00 3,894.00 3,232.00
2017-03-31 93,900.00 5,255.00 3,657.00 3,311.00
2016-12-31 93,496.00 5,034.00 3,940.00 3,391.00
2016-09-30 94,858.00 4,290.00 3,548.00 3,571.00
2016-06-30 96,809.00 3,715.00 3,514.00 3,571.00
2016-03-31 96,597.00 5,059.00 3,468.00 3,479.00
2015-12-31 96,114.00 5,176.00 3,525.00 3,331.00
2015-09-30 97,009.00 5,616.00 3,634.00 3,181.00
2015-06-30 94,944.00 5,274.00 3,677.00 3,074.00
2015-03-31 92,446.00 5,817.00 3,835.00 3,007.00
2014-12-31 90,762.00 5,446.00 3,767.00 3,047.00
2014-09-30 90,079.00 5,213.00 3,827.00 3,140.00
2014-06-30 88,425.00 5,011.00 3,851.00 3,145.00
2014-03-31 88,195.00 4,445.00 3,862.00 3,175.00
2013-12-31 86,623.00 4,586.00 3,956.00 3,071.00
2013-09-30 85,140.00 4,331.00 3,799.00 2,976.00
2013-06-30 83,018.00 4,205.00 3,759.00 3,074.00
2013-03-31 81,208.00 4,085.00 3,733.00 3,168.00
2012-12-31 81,698.00 3,903.00 3,717.00 3,298.00
2012-09-30 78,951.00 4,303.00 3,638.00 3,458.00
2012-06-30 76,670.00 4,363.00 3,530.00 3,506.00
2012-03-31 73,208.00 4,338.00 3,497.00 3,696.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Boeing made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • Boeing used its assets more efficiently than the US Aerospace & Defense industry average last year based on Return on Assets.
  • Boeing has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Boeing's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Boeing has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

BA Health

 How is Boeing's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Boeing's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Boeing is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Boeing's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Boeing's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 6.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Boeing Company Filings, last reported 1 month ago.

NYSE:BA Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 410.00 13,847.00 8,564.00
2018-09-30 -1,209.00 11,876.00 9,990.00
2018-06-30 -1,374.00 12,118.00 9,770.00
2018-03-31 1,298.00 12,452.00 9,891.00
2017-12-31 1,713.00 11,117.00 9,992.00
2017-09-30 1,145.00 10,768.00 10,032.00
2017-06-30 -1,978.00 10,775.00 10,326.00
2017-03-31 155.00 10,799.00 9,205.00
2016-12-31 877.00 9,952.00 10,029.00
2016-09-30 2,150.00 10,456.00 9,629.00
2016-06-30 647.00 11,015.00 9,265.00
2016-03-31 4,106.00 9,964.00 8,314.00
2015-12-31 6,397.00 9,964.00 12,052.00
2015-09-30 6,786.00 9,016.00 9,819.00
2015-06-30 6,307.00 9,016.00 9,587.00
2015-03-31 8,030.00 9,038.00 9,593.00
2014-12-31 8,790.00 9,070.00 13,054.00
2014-09-30 14,637.00 8,880.00 10,031.00
2014-06-30 14,184.00 8,883.00 11,284.00
2014-03-31 14,633.00 8,935.00 12,178.00
2013-12-31 14,997.00 9,635.00 15,212.00
2013-09-30 9,067.00 9,596.00 15,865.00
2013-06-30 7,632.00 9,578.00 14,279.00
2013-03-31 7,560.00 9,171.00 11,807.00
2012-12-31 5,967.00 10,409.00 13,502.00
2012-09-30 7,682.00 11,186.00 11,116.00
2012-06-30 5,892.00 11,201.00 10,251.00
2012-03-31 5,120.00 11,624.00 10,460.00
  • Boeing's level of debt (3377.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (64.2% vs 3377.3% today).
  • Debt is well covered by operating cash flow (110.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 32.8x coverage).
X
Financial health checks
We assess Boeing's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Boeing has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

BA Dividends

 What is Boeing's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.97%
Current annual income from Boeing dividends. Estimated to be 2.14% next year.
If you bought $2,000 of Boeing shares you are expected to receive $39 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Boeing's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • Boeing's dividend is below the markets top 25% of dividend payers in United States of America (3.59%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:BA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 21 Analyst Estimates (S&P Global) See Below
United States of America Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 22 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1998 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:BA Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 9.77 2.00
2021-12-31 10.32 8.00
2020-12-31 9.00 12.00
2019-12-31 8.02 14.00
NYSE:BA Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-12-17 8.220 2.323
2018-10-22 6.840 2.006
2018-06-25 6.840 1.934
2018-04-30 6.840 1.956
2017-12-11 6.840 2.077
2017-10-30 5.680 2.124
2017-06-26 5.680 2.411
2017-05-01 5.680 3.021
2016-12-12 5.680 3.349
2016-10-31 4.360 2.943
2016-06-27 4.360 3.291
2016-05-02 4.360 3.342
2015-12-14 4.360 3.414
2015-10-26 3.640 2.481
2015-06-22 3.640 2.624
2015-04-27 3.640 2.528
2014-12-15 3.640 2.533
2014-10-27 2.920 2.283
2014-06-23 2.920 2.328
2014-04-28 2.920 2.203
2013-12-16 2.920 2.246
2013-10-28 1.940 1.455
2013-06-24 1.940 1.767
2013-04-29 1.940 1.979
2012-12-17 1.940 2.434
2012-10-31 1.760 2.410
2012-06-25 1.760 2.437
2012-04-30 1.760 2.446
2011-12-12 1.760 2.369
2011-10-31 1.680 2.509
2011-06-27 1.680 2.583
2011-05-02 1.680 2.213
2010-12-13 1.680 2.375
2010-10-25 1.680 2.524
2010-06-21 1.680 2.558
2010-04-26 1.680 2.505
2009-12-14 1.680 2.637
2009-10-26 1.680 3.258
2009-06-22 1.680 3.596
2009-04-28 1.680 3.676
2009-02-19 1.680 4.794

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Boeing's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess Boeing's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Boeing afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Boeing has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

BA Management

 What is the CEO of Boeing's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dennis Muilenburg
COMPENSATION $18,450,416
AGE 54
TENURE AS CEO 3.6 years
CEO Bio

Mr. Dennis A. Muilenburg has been the Chief Executive Officer of The Boeing Company since July 2015 and has been its Chairman since March 1, 2016. Mr. Muilenburg has been the President of The Boeing Company since December 2013. He served as Vice Chairman and Chief Operating Officer at The Boeing Company since December 2013 until July 2015 and serves as its Member of Executive Council. Previously, he served as the Chief Executive Officer, Executive Vice President and President of Boeing Defense, Space & Security (BDS) at The Boeing Company from September 2009 to December 2013. He served as an Executive Vice President at The Boeing Company. He served as the Chief Executive Officer and President of Boeing Integrated Defense Systems Inc. since September 1, 2009. He served as an Executive Vice President of Integrated Defense Systems at Boeing Co. He served as the President of Global Services & Support of Boeing Co., from February 2008 to August 2009. Mr. Muilenburg served as the President of IDS Support Systems of Boeing Co., from February 2008 to August 2009. He led Boeing's Combat Systems division and successful Future Combat Systems program. He served as Vice President and General Manager of the Boeing Combat Systems division from 2006 to 2008. He joined The Boeing Company in 1985 as an Engineering Intern in Seattle. He served as Vice President and Program Manager for Future Combat Systems from 2003 to 2006. He has been Director of The Boeing Company since July 2015. He has been a Director of Caterpillar Inc. since June 2011. He serves on the Association of the United States Army ("AUSA") Council of Trustees and the Washington University Board of Trustees. He is an Associate Fellow of the American Institute of Aeronautics and Astronautics and a Fellow of the Royal Aeronautical Society. Mr. Muilenburg holds a bachelor's degree in aerospace engineering and an honorary doctor of science degree from Iowa State University as well as a master's degree in aeronautics and astronautics from the University of Washington.

CEO Compensation
  • Dennis's compensation has increased by more than 20% in the past year.
  • Dennis's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Boeing management team in years:

3.3
Average Tenure
52
Average Age
  • The tenure for the Boeing management team is about average.
Management Team

Dennis Muilenburg

TITLE
Chairman
COMPENSATION
$18M
AGE
54
TENURE
3.6 yrs

Greg Smith

TITLE
CFO and Executive VP of Enterprise Performance & Strategy
COMPENSATION
$17M
AGE
51
TENURE
7 yrs

Stan Deal

TITLE
Executive VP
COMPENSATION
$10M
AGE
54
TENURE
4.9 yrs

Kevin McAllister

TITLE
Executive VP
COMPENSATION
$7M
AGE
54
TENURE
2.3 yrs

Jenette Ramos

TITLE
Senior Vice President of Manufacturing
AGE
52
TENURE
1.7 yrs

Andy Ward

TITLE
Chief Investment Officer
AGE
47
TENURE
9.5 yrs

Greg Hyslop

TITLE
CTO and Senior VP of Boeing Engineering
AGE
59
TENURE
2.6 yrs

Ted Colbert

TITLE
Chief Information Officer and Senior VP of Information Technology & Data Analytics
AGE
44
TENURE
5.3 yrs

Diana Sands

TITLE
Senior Vice President for Office of Internal Governance & Administration
COMPENSATION
$5M
AGE
52
TENURE
2.9 yrs

Maurita Sutedja

TITLE
Vice President of Investor Relations
TENURE
1.4 yrs
Board of Directors Tenure

Average tenure and age of the Boeing board of directors in years:

8.8
Average Tenure
66.5
Average Age
  • The tenure for the Boeing board of directors is about average.
Board of Directors

Dennis Muilenburg

TITLE
Chairman
COMPENSATION
$18M
AGE
54
TENURE
2.9 yrs

Art Collins

TITLE
Independent Director
COMPENSATION
$366K
AGE
70
TENURE
11.9 yrs

Dave Calhoun

TITLE
Lead Director
COMPENSATION
$359K
AGE
60
TENURE
0.8 yrs

Ron Williams

TITLE
Independent Director
COMPENSATION
$356K
AGE
69
TENURE
8.2 yrs

Larry Kellner

TITLE
Independent Director
COMPENSATION
$368K
AGE
59
TENURE
7.3 yrs

Ken Duberstein

TITLE
Independent Director
COMPENSATION
$380K
AGE
73
TENURE
22.1 yrs

Mike Zafirovski

TITLE
Independent Director
COMPENSATION
$346K
AGE
64
TENURE
14.3 yrs

Ed Liddy

TITLE
Independent Director
COMPENSATION
$323K
AGE
72
TENURE
8.7 yrs

Edmund Giambastiani

TITLE
Independent Director
COMPENSATION
$325K
AGE
69
TENURE
9.3 yrs

Susan Schwab

TITLE
Independent Director
COMPENSATION
$342K
AGE
63
TENURE
9 yrs
Who owns this company?
Recent Insider Trading
  • Boeing insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. Feb 19 Sell J. Luttig Individual 12. Feb 19 12. Feb 19 -8,500 $410.95 $-3,488,886
12. Feb 19 Sell Kevin McAllister Individual 08. Feb 19 08. Feb 19 -12,637 $398.27 $-5,032,938
31. Oct 18 Sell Diana Sands Individual 29. Oct 18 29. Oct 18 -5,000 $350.07 $-1,750,350
10. May 18 Sell J. Luttig Individual 09. May 18 09. May 18 -9,000 $344.13 $-3,097,170
08. May 18 Sell Gregory Hyslop Individual 07. May 18 07. May 18 -2,241 $341.77 $-762,543
08. May 18 Sell Diana Sands Individual 04. May 18 04. May 18 -4,500 $328.04 $-1,476,180
08. May 18 Sell Robert Verbeck Individual 04. May 18 04. May 18 -2,840 $334.78 $-948,261
07. May 18 Sell Heidi Capozzi Individual 03. May 18 03. May 18 -1,132 $329.84 $-373,379
X
Management checks
We assess Boeing's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Boeing has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

BA News

Simply Wall St News

Should You Worry About The Boeing Company's (NYSE:BA) CEO Pay?

Dennis Muilenburg has been the CEO of The Boeing Company (NYSE:BA) since 2015. … First, this article will compare CEO compensation with compensation at other large companies. … How Does Dennis Muilenburg's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Estimating The Intrinsic Value Of The Boeing Company (NYSE:BA)

How far off is The Boeing Company (NYSE:BA) from its intrinsic value? … by projecting its future cash flows and then discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

What Kind Of Shareholders Own The Boeing Company (NYSE:BA)?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Boeing is a pretty big company. … Our analysis of the ownership of the company, below, shows that.

Simply Wall St -

What Do Analysts Think About The Boeing Company's (NYSE:BA) Growth?

In September 2018, The Boeing Company (NYSE:BA) announced its earnings update. … with earnings expected to grow by 8.0% in the upcoming year … the higher past 5-year average growth rate of 15%

Simply Wall St -

Is The Boeing Company's (NYSE:BA) Future Growth Already Accounted For In Today's Price?

Looking at The Boeing Company’s (NYSE:BA) fundamentals some investors are wondering if its last closing price of $342.5 represents a good value for money for this high growth stock. … See our latest analysis for Boeing? … Analysts are predicting good growth prospects for Boeing over the next couple of years

Simply Wall St -

Read This Before Buying The Boeing Company (NYSE:BA) Shares

We often see insiders buying up shares in companies that perform well over the long term. … So we'll take a look at whether insiders have been buying or selling shares in The Boeing Company (NYSE:BA). … We generally tread carefully if insiders have been selling on market, even if they sold slightly above the current price

Simply Wall St -

Why We Think The Boeing Company (NYSE:BA) Could Be Worth Looking At

Attractive stocks have exceptional fundamentals. … In the case of The Boeing Company (NYSE:BA), there's … , dividend-paying company with a

Simply Wall St -

Read This Before You Buy The Boeing Company (NYSE:BA) Because Of Its P/E Ratio

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at The Boeing Company's (NYSE:BA) P/E ratio and reflect on what it tells us about the company's share price. … Boeing has a price to earnings ratio of 20.73, based on the last twelve months.

Simply Wall St -

The Boeing Company (NYSE:BA): 4 Days To Buy Before The Ex-Dividend Date

If you are interested in cashing in on The Boeing Company's (NYSE:BA) upcoming dividend of US$1.71 per share, you only have 4 days left to buy the shares before its ex-dividend date, 08 November 2018, in time for dividends payable on the 07 December 2018. … 5 checks you should do on a dividend stock? … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:?

Simply Wall St -

Why The Boeing Company's (NYSE:BA) CEO Pay Matters To You

First, this article will compare CEO compensation with compensation at other large companies. … At the time of writing our data says that The Boeing Company has a market cap of US$190.6b, and is paying total annual CEO compensation of US$18m. … We looked at a group of companies with market capitalizations over US$8.0b and the median CEO compensation was US$11m.

Simply Wall St -

BA Company Info

Map
Description

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 in 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, principally. 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 and finance leases, notes and other receivables, assets held for sale or re-lease, and investments. The Boeing Company was founded in 1916 and is based in Chicago, Illinois.

Details
Name: The Boeing Company
BA
Exchange: NYSE
Founded: 1916
$236,146,826,008
564,985,109
Website: http://www.boeing.com
Address: The Boeing Company
100 North Riverside Plaza,
Chicago,
Illinois, 60606,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE BA Common Shares New York Stock Exchange US USD 02. Jan 1968
DB BCO Common Shares Deutsche Boerse AG DE EUR 02. Jan 1968
XTRA BCO Common Shares XETRA Trading Platform DE EUR 02. Jan 1968
LSE BOE Common Shares London Stock Exchange GB USD 02. Jan 1968
SWX BA Common Shares SIX Swiss Exchange CH CHF 02. Jan 1968
ENXTBR BOEI Common Shares Euronext Brussels BE USD 02. Jan 1968
WBAG BA Common Shares Wiener Boerse AG AT EUR 02. Jan 1968
SNSE BA Common Shares Santiago Stock Exchange CL USD 02. Jan 1968
BMV BA * Common Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1968
BOVESPA BOEI34 BDR EACH REPR 1 COM SHS Bolsa de Valores de Sao Paulo BR BRL 24. Aug 2012
BASE BA CEDEAR (3 REP 1 USD5) Buenos Aires Stock Exchange AR ARS 13. Mar 2000
Number of employees
Current staff
Staff numbers
153,000
Boeing employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/18 01:19
End of day share price update: 2019/02/15 00:00
Last estimates confirmation: 2019/02/15
Last earnings filing: 2019/02/08
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.