Boeing
ConvictionModerate
Two-sided OEM + aftermarket: long-cycle airframe manufacturing (Commercial Airplanes) and government cost-plus/fixed-price contracting (Defense, Space & Security), plus a high-margin services/aftermarket annuity (Global Services). Space/launch sits inside BDS as a small, structurally loss-making fixed-price segment.
Revenuefact
$89.5B FY2025+34% YoY (fact, FY2025 10-K / Jan 27 2026 release); $22.2B Q1 FY2026, +14% YoYRev growthfact
+34% FY2025+14% Q1 FY2026Gross marginfact
Not separately reported by BoeingFY2025 operating margin (GAAP) 4.8% is the cleaner proxyOp marginfact
4.8% GAAP / 3.6% core FY20252.0% GAAP Q1 FY2026Capex intensity
~3.2%capex $2.9B / rev $89.5B, FY2025; factMarket cap
~$172BBA ~$217.70, ~Jun 20 2026; factPrice · 1-year trend
real · weekly$225-1% 1yUSD
52-week range
$179 – $252
52w lowas of 2026-07-08 · Yahoo Finance52w high
Across the boards
The thesis on this name
opportunityModerate
Space / launch economics
Full context
Primary source
Reported financials — SEC EDGAR
Audited GAAP figures pulled from SEC filings · latest filing 2026-01-30. The audited primary-source spine — not investment advice.
Revenue — annual (GAAP)
FY’21
$62.3B
FY’22
$66.6B+7%
FY’23
$77.8B+17%
FY’24
$66.5B-14%
FY’25
$89.5B+34%
Margins & balance sheet — FY’25
Gross margin4.8%
Operating margin4.8%
Net margin2.5%
Net debt$40.4B
The read
Where our coverage leans
Bull & bear in tension
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Full financial intelligence for Boeing
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage Jun 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence