Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data BOEING CO files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
93,496
94,005
101,127
76,559
58,158
62,286
66,608
77,794
66,517
89,463
Cost of revenue
79,026
76,612
81,490
72,093
63,843
59,237
63,078
70,070
68,508
85,174
Gross profit
14,470
17,393
19,637
4,466
-5,685
3,049
3,530
7,724
-1,991
4,289
Research and development
4,626
3,179
3,269
3,219
2,476
2,249
2,852
3,377
3,812
3,615
General and administrative
3,613
4,095
4,567
3,909
4,817
4,157
4,187
5,168
5,021
6,090
Operating income
6,527
10,344
11,987
-1,975
-12,767
-2,870
-3,519
-773
-10,707
4,281
Interest expense
306
360
475
722
2,156
2,714
2,561
2,459
2,725
2,771
Other non-operating income
-438
123
92
438
447
551
1,058
1,227
1,222
1,125
Pre-tax income
5,783
10,107
11,604
-2,259
-14,476
-5,033
-5,022
-2,005
-12,210
2,635
Income tax
749
1,649
1,144
-1,623
-2,535
-743
31
237
-381
397
Net income to minority interests
-68
-88
-118
-20
-12
3
Net income
5,034
8,458
10,460
-636
-11,873
-4,202
-4,935
-2,222
-11,817
2,235
EBITDA
8,416
12,391
14,101
296
-10,521
-726
-1,540
1,088
-8,871
6,234
EPS, basic
7.92
14.03
18.05
-1.12
-20.88
-7.15
-8.30
-3.67
-18.36
2.49
EPS, diluted
7.83
13.85
17.85
-1.12
-20.88
-7.15
-8.30
-3.67
-18.36
2.48
Shares, basic (weighted)
636
603
579
565
569
588
595
606
647
760
Shares, diluted (weighted)
643
610
586
565
569
588
595
606
647
762
Dividend per share
4.69
5.97
7.19
8.22
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
8,801
8,813
7,637
9,485
7,752
8,052
14,614
12,691
13,801
10,921
Short-term investments
1,228
1,179
927
545
17,838
8,192
2,606
3,274
12,481
18,479
Receivables
8,832
2,894
3,879
3,266
1,955
2,641
2,517
2,649
2,631
2,921
Other current assets
2,417
2,335
3,106
4,286
2,221
2,847
2,504
2,965
2,301
Total current assets
62,488
85,194
87,830
102,229
121,642
108,666
109,523
109,275
127,998
128,459
Property, plant and equipment
12,807
12,672
12,645
12,502
11,820
10,918
10,550
10,661
11,412
15,361
Lease right-of-use assets
1,182
1,252
1,437
1,451
1,690
1,984
2,123
Goodwill
5,324
5,559
7,840
8,060
8,081
8,068
8,057
8,093
8,084
17,275
Intangible assets
2,540
2,573
3,429
3,338
2,843
2,562
2,311
2,094
1,957
1,567
Long-term investments
1,317
1,260
1,087
1,092
1,016
975
983
1,035
999
1,048
Other non-current assets
1,416
2,027
1,826
3,585
4,712
5,591
4,163
4,935
5,414
4,177
Total assets
89,997
112,362
117,359
133,625
152,136
138,552
137,100
137,012
156,363
168,235
Accounts payable
11,190
12,202
12,916
15,553
12,928
9,261
10,200
11,964
11,364
13,109
Accrued liabilities
14,691
13,069
14,808
22,868
22,171
18,455
21,581
22,331
24,103
27,141
Deferred revenue
48,042
50,676
51,551
50,488
52,980
53,081
56,328
60,333
59,404
Short-term debt
384
1,335
3,190
7,340
1,693
1,296
5,190
5,204
1,278
8,461
Total current liabilities
50,134
74,648
81,590
97,312
87,280
81,992
90,052
95,827
97,078
108,115
Long-term debt
9,568
9,782
10,657
19,962
61,890
56,806
51,811
47,103
52,586
45,637
Lease liabilities
978
1,271
1,305
1,518
1,770
1,932
Other non-current liabilities
2,221
2,015
3,059
3,422
1,486
1,750
2,211
2,332
2,318
2,432
Total liabilities
88,080
110,649
116,949
141,925
170,211
153,398
152,948
154,240
160,277
162,778
Total debt
9,952
11,117
13,847
20,964
63,380
57,921
56,794
52,055
53,625
53,848
Paid-in capital
4,762
6,804
6,768
6,745
7,787
9,052
9,947
10,309
18,964
21,441
Retained earnings
40,714
49,618
55,941
50,644
38,610
34,408
29,473
27,251
15,362
17,252
Treasury stock
-36,097
-43,454
-52,348
-54,914
-52,641
-51,861
-50,814
-49,549
-32,386
-28,029
Other comprehensive income
-13,623
-16,373
-15,083
-16,153
-17,133
-11,659
-9,550
-10,305
-10,915
-10,277
Shareholders' equity
817
1,656
339
-8,617
-18,316
-14,999
-15,883
-17,233
-3,908
5,454
Minority interests
60
57
71
317
241
153
35
5
-6
3
Total equity
1,917
1,713
410
-8,462
-18,075
-14,846
-15,848
-17,228
-3,914
5,457
Total liabilities and equity
89,997
112,362
117,359
133,625
152,136
138,552
137,100
137,012
156,363
168,235
Shares outstanding
1,012
1,012
1,012
1,012
1,012
1,012
1,012
1,012
1,012
1,012
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
5,033
8,456
10,460
-636
-11,941
-4,290
-5,053
-2,242
-11,829
2,238
Depreciation and amortization
1,889
2,047
2,114
2,271
2,246
2,144
1,979
1,861
1,836
1,953
Stock-based compensation
190
202
202
212
250
833
725
690
407
426
Deferred income tax
-592
201
-995
-1,323
1,264
-843
-11
30
-302
99
Change in receivables
326
-840
-795
603
909
-713
142
-128
-37
-95
Change in inventory
4,004
-1,403
568
-12,391
-11,002
-1,127
420
-1,681
-12,353
-1,501
Change in payables
622
130
2
1,600
-5,363
-3,783
838
1,672
-793
724
Cash from operations
10,496
13,346
15,322
-2,446
-18,410
-3,416
3,512
5,960
-12,080
1,065
Capital expenditures
-2,613
-1,739
-1,722
-1,834
-1,303
-980
-1,222
-1,527
-2,230
-2,942
Acquisitions
-297
-324
-3,230
-455
-6
-70
-50
-1,248
Purchases of investments
-1,719
-3,569
-2,607
-1,658
-37,616
-35,713
-5,051
-16,448
-13,856
-51,938
Sales and maturities of investments
1,206
3,607
2,898
1,759
20,275
45,489
10,619
15,739
4,743
46,628
Cash from investing
-3,378
-2,058
-4,621
-1,530
-18,366
9,324
4,370
-2,437
-11,973
499
Debt issued
1,325
2,077
8,548
25,389
47,248
9,795
34
75
10,161
165
Debt repaid
-1,359
-953
-7,183
-12,171
-10,998
-15,371
-1,310
-5,216
-8,673
-3,621
Stock issued
321
311
81
58
36
42
50
45
18,200
Share buybacks
-7,001
-9,236
-9,000
-2,651
Dividends paid
-2,756
-3,417
-3,946
-4,630
-1,158
-331
Cash from financing
-9,587
-11,350
-11,722
5,739
34,955
-5,600
-1,266
-5,487
25,209
-3,763
Exchange rate effect
-33
80
-53
-5
85
-39
-73
30
-47
40
Net change in cash
-2,502
18
-1,074
1,758
-1,736
269
6,543
-1,934
1,109
-2,159
Free cash flow
7,883
11,607
13,600
-4,280
-19,713
-4,396
2,290
4,433
-14,310
-1,877
Interest paid
523
527
616
973
1,925
2,583
2,572
2,408
2,440
2,630
Income taxes paid
1,460
896
1,326
837
37
-1,480
-1,317
204
187
275
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $198.07 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
4.7%
Gross profit / revenue.
Operating margin
4.9%
Operating income / revenue.
EBITDA margin
7.2%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
3.0%
Pre-tax income / revenue.
Net margin
2.6%
Net income / revenue.
FCF margin
-0.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
3.9%
Cash from operations / revenue.
Effective tax rate
12.0%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
39.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
1.5%
Net income / average total assets.
Return on invested capital (ROIC)
9.1%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
3.9%
Research and development expense / revenue.
Stock-based pay / revenue
0.5%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
4.1%
Capital expenditures / revenue.
D&A / revenue
2.3%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
34.5%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
10.3%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
9.0%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit CAGR, 3y
6.7%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y
-32.8%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
7.6%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
7.1%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
2.0%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
17.8%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
8.6%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
6.0%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.14x
Current assets / current liabilities.
Quick ratio
0.21x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.18x
(Cash + short-term investments) / current liabilities.
Debt / equity
7.47x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
27.5%
Total debt / total assets.
Liabilities / assets
96.3%
Total liabilities / total assets.
Net debt
$25.57B
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
3.76x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
105.8%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$3.08
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$118.89
Revenue / diluted weighted shares.
FCF per share
-$0.27
Free cash flow / diluted weighted shares.
Operating cash flow per share
$4.60
Cash from operations / diluted weighted shares.
Book value per share
$7.72
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Dividends paid / net income, when net income is positive.
Valuation
Metric
Value
How it is calculated
Market cap
$156.55B
Share price x shares outstanding.
Enterprise value
$182.12B
Market cap + total debt - cash - short-term investments.
P/E
64.3x
Market cap / net income. Only when net income is positive.
P/S
1.67x
Market cap / revenue.
P/B
25.7x
Market cap / shareholders' equity. Only when equity is positive.
P/OCF
43.0x
Market cap / cash from operations, when positive.
EV/Sales
1.94x
Enterprise value / revenue.
EV/EBIT
39.6x
Enterprise value / operating income, when both are positive.
EV/EBITDA
26.8x
Enterprise value / EBITDA, when both are positive.
FCF yield
-0.1%
Free cash flow / market cap.
Earnings yield
1.6%
Net income / market cap (the inverse of P/E).
Dividend yield
0.2%
Dividends paid over the period / market cap.
Shareholder yield
0.2%
(Dividends paid + share buybacks) / market cap.
What was BOEING CO's revenue in fiscal 2025?
BOEING CO reported revenue of $89.46B for fiscal 2025, 34.5% higher than the year before.
Was BOEING CO profitable in fiscal 2025?
Yes. Net income was $2.24B, a net margin of 2.5%.
How much free cash flow did BOEING CO generate in fiscal 2025?
Cash from operations of $1.07B minus capital expenditures of $2.94B left free cash flow of -$1.88B.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.