Now trading at a price of $234.87, Boeing has moved 0.4% so far today.
Boeing returned gains of 27.0% last year, with its stock price reaching a high of $243.1 and a low of $174.62. Over the same period, the stock outperformed the S&P 500 index by 12.0%. More recently, the company's 50-day average price was $196.69. The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. Based in Arlington, VA, the large-cap Industrials company has 156,000 full time employees. Boeing has not offered a dividend during the last year.
The Company's Revenues Are Declining:
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $101,127 | $76,559 | $58,158 | $62,286 | $66,608 | $75,756 |
| Revenue Growth | n/a | -24.29% | -24.04% | 7.1% | 6.94% | 13.73% |
| Gross Margins | 19% | 6% | -10% | 5% | 5% | 9% |
| Operating Margins | 12% | -3% | -22% | -5% | -5% | -2% |
| Net Margins | 10% | -1% | -20% | 0% | 0% | 0% |
| Net Income (MM) | $10,460 | -$636 | -$11,873 | -$88 | -$118 | -$75 |
| Net Interest Expense (MM) | $475 | $722 | $2,156 | $2,682 | $2,533 | $2,471 |
| Depreciation & Amort. (MM) | $2,114 | $2,271 | $2,246 | $2,144 | $1,979 | $1,882 |
| Earnings Per Share | $17.85 | -$1.12 | -$20.88 | -$7.15 | -$8.3 | -$4.71 |
| EPS Growth | n/a | -106.27% | -1764.29% | 65.76% | -16.08% | 43.25% |
| Diluted Shares (MM) | 586 | 565 | 569 | 588 | 595 | 626 |
| Free Cash Flow (MM) | $13,600 | -$4,280 | -$19,713 | -$4,396 | $2,290 | $4,614 |
| Capital Expenditures (MM) | $1,722 | $1,834 | $1,303 | $980 | $1,222 | $1,422 |
| Current Ratio | 1.08 | 1.05 | 1.39 | 1.33 | 1.22 | 1.15 |
| Long Term Debt (MM) | $10,657 | $19,962 | $61,890 | $56,806 | $51,811 | $47,381 |
| Net Debt / EBITDA | 0.44 | 60.19 | -5.31 | -66.03 | -27.03 | 100.36 |
Boeing suffers from declining revenues and decreasing reinvestment in the business, slimmer gross margins than its peers, and consistently negative margins with a negative growth trend. The firm's financial statements also exhibit declining EPS growth and a highly leveraged balance sheet. On the other hand, the company has a pattern of improving cash flows working in its favor.
Boeing does not have a meaningful trailing P/E ratio since its earnings per share are currently in the red. Based on its EPS guidance of $3.97, the company has a forward P/E ratio of 49.5. In comparison, the average P/E ratio for the Industrials sector is 22.19.
Analysts Give Boeing an Average Rating of Buy:
The 28 analysts following Boeing have set target prices ranging from $190.0 to $300.0 per share, for an average of $250.05 with a buy rating. As of April 2023, the company is trading -21.3% away from its average target price, indicating that there is an analyst consensus of some upside potential.
Boeing has a very low short interest because 1.9% of the company's shares are sold short. Institutions own 61.1% of the company's shares, and the insider ownership rate stands at 0.09%, suggesting a small amount of insider investors. The largest shareholder is Vanguard Group Inc, whose 8% stake in the company is worth $11,182,044,911.
