BOEING CO
BA · NYSE, NYSE · CIK 0000012927
SIC 3721
Aircraft
Category
Transportation Equipment
Entity
operating
Incorp.
DE
Fiscal Y/E
1231
Source: SEC EDGAR · All filings on SEC →
Investment Indicators
$238.27
+0.91 (+0.38%)
Open
$239.64
High
$241.20
Low
$236.52
Prev Close
$237.36
Volume
6,251,323
52W High
$254.35
52W Low
$176.77
50-day MA
$217.23
Quote as of: 2026-05-11
Market Cap
$187.11B
P/E
93.45
P/B
31.28
PEG
25.72
EPS
2.54
BPS
7.59
Beta
1.21
ROE
40.98%
ROA
1.33%
D/E Ratio
29.85
Current Ratio
1.19
Gross Margin
4.79%
Operating Margin
4.79%
Net Margin
2.50%
Book Value/Share
$5.39
Intrinsic Value Estimates
Multiple valuation methods, each with its own assumptions — outputs can diverge widely
Median consensus (7 methods)
$33.52B
| Method | Implied market cap | vs current |
|---|---|---|
Graham Number √(22.5 × 순이익 × 자본) | $16.56B | +1030% |
Graham Formula 순이익 × (8.5 + 2 × 성장률%) | $130.75B | +43% |
Justified P/E 순이익 × 산업 평균 P/E | $33.52B | +458% |
P/B 배수 자본 × 산업 평균 P/B | $8.18B | +2187% |
P/S 배수 매출 × 산업 평균 P/S | $178.93B | +5% |
DCF (Gordon) CF × (1+g) / (r − g) | $78.97B | +137% |
DDM (Gordon) D × (1+g) / (r − g) | $11.70B | +1500% |
▶ Detailed analysis — formula walk-through & scenarios
Why this conclusion
Of the 7 valuation methods, 7 were applicable. Their median fair-value lands +458.1% below the current market cap → the stock trades above most formulas' estimates (overvalued). 6 methods flag overvalued, 0 flag undervalued, the rest land within fair range. Read each formula's assumptions below before treating any single number as the answer.
Graham Number
Overvalued +1029.8%√(22.5 × 순이익 × 자본)
Current
$187.11B
Implied fair
$16.56B
Gap (current − fair)
+$170.55B(+1029.8%)
NetIncome = $2.23B Equity = $5.45B √(22.5 × $2.23B × $5.45B) = $16.56B
- 최대 PER 15배
- 최대 PBR 1.5배
- 안정적 흑자 기업 가정 (금융·고성장 부정확)
Graham Formula
Overvalued +43.1%순이익 × (8.5 + 2 × 성장률%)
Current
$187.11B
Implied fair
$130.75B
Gap (current − fair)
+$56.36B(+43.1%)
NetIncome = $2.23B Growth g = 118.9% → cap 25.0% Multiple = 8.5 + 2 × 25.0 = 58.5× $2.23B × 58.5 = $130.75B
- EPS 성장률 118.9%/년 가정 (직전 1년 기준)
- 무성장 기업 P/E = 8.5
- 현재 적용 배수: 58.5x
Justified P/E
Overvalued +458.1%순이익 × 산업 평균 P/E
Current
$187.11B
Implied fair
$33.52B
Gap (current − fair)
+$153.59B(+458.1%)
NetIncome = $2.23B Industry P/E = 15× $2.23B × 15 = $33.52B
- 산업 평균 PER 15x 가정 (사용자 정의 가능)
- 동종 업종 비교가 핵심 — 산업별 평균 P/E 사용 권장
P/B 배수
Overvalued +2187.1%자본 × 산업 평균 P/B
Current
$187.11B
Implied fair
$8.18B
Gap (current − fair)
+$178.93B(+2187.1%)
Equity = $5.45B Industry P/B = 1.5× $5.45B × 1.5 = $8.18B
- 산업 평균 PBR 1.5x 가정
- 은행·보험·자산집약적 산업에 특히 유효
P/S 배수
Fair +4.6%매출 × 산업 평균 P/S
Current
$187.11B
Implied fair
$178.93B
Gap (current − fair)
+$8.19B(+4.6%)
Revenue = $89.46B Industry P/S = 2× $89.46B × 2 = $178.93B
- 산업 평균 PSR 2x 가정
- 매출 기반 — 적자 기업·신생 기업에 적용 가능
- 이익률 차이 무시
DCF (Gordon)
Overvalued +136.9%CF × (1+g) / (r − g)
Current
$187.11B
Implied fair
$78.97B
Gap (current − fair)
+$108.14B(+136.9%)
- 현금흐름 입력: 순이익 (FCF 대용 — capex 미반영)
- 할인율 9.0% (무위험 4.0% + 주식위험프리미엄 5.0%)
- 영구 성장률 6.0% (실질 GDP 수준)
DDM (Gordon)
Overvalued +1499.9%D × (1+g) / (r − g)
Current
$187.11B
Implied fair
$11.70B
Gap (current − fair)
+$175.42B(+1499.9%)
Dividend D = $331.00M Discount r = 9.0% Growth g = 6.0% $331.00M × (1 + 6.0%) / (9.0% − 6.0%) = $11.70B
- 배당 입력: 실제 지급 배당
- 할인율 9.0%
- 배당 영구 성장률 6.0%
DDM sensitivity: discount rate × dividend growth
Each cell is the discount % vs Dividend × (1+g) / (r − g) under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +3258.2% | +3817.9% | +4377.6% | +4937.2% | +5496.9% |
| 2% | +2671.0% | +3225.2% | +3779.5% | +4333.7% | +4887.9% |
| 3% | +2095.3% | +2644.1% | +3193.0% | +3741.8% | +4290.6% |
| 4% | +1530.6% | +2074.2% | +2617.7% | +3161.3% | +3704.8% |
| 5% | +976.7% | +1515.1% | +2053.5% | +2591.9% | +3130.2% |
All estimates rest on strong assumptions. Treat the spread, not any single number, as the signal.
Financial Statements
In USD millions (per-share figures shown directly) · Financials as of: 2026-01-30
Income Statement
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 89,463 | 66,517 | 77,794 | 66,608 | 62,286 |
| Cost of Revenue | 85,174 | 68,508 | 70,070 | 63,106 | 59,269 |
| Gross Profit | 4,289 | -1,991 | 7,724 | 3,502 | 3,017 |
| Operating Income | 4,281 | -10,707 | -773 | -3,547 | -2,902 |
| Net Income | 2,235 | -11,817 | -2,222 | -4,935 | -4,202 |
| EPS (Basic) | 2.49 | -18.36 | -3.67 | -8.30 | -7.15 |
| EPS (Diluted) | 2.48 | -18.36 | -3.67 | -8.30 | -7.15 |
Balance Sheet
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total Assets | 168,235 | 156,363 | 137,012 | 137,100 | 138,552 |
| Current Assets | 128,459 | 127,998 | 109,275 | 109,523 | 108,666 |
| Cash & Equivalents | 10,921 | 13,801 | 12,691 | 14,614 | 8,052 |
| Total Liabilities | 162,778 | 160,277 | 154,240 | 152,948 | 153,398 |
| Current Liabilities | 108,115 | 97,078 | 95,827 | 90,052 | 81,992 |
| Long-term Debt | 53,848 | 53,625 | 52,055 | 56,794 | 57,921 |
| Total Equity | 5,454 | -3,908 | -17,233 | -15,883 | -14,999 |
Cash Flow
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating CF | 1,065 | -12,080 | 5,960 | 3,512 | -3,416 |
| Investing CF | 499 | -11,973 | -2,437 | 4,370 | 9,324 |
| Financing CF | -3,763 | 25,209 | -5,487 | -1,266 | -5,600 |
| CapEx | 2,942 | 2,230 | 1,527 | 1,222 | 980 |
| Dividends Paid | 331 | — | — | — | — |
📄 SEC Filings
Quarterly Report
10-Q
2026-04-22
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Current Report
8-K
2026-04-22
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Current Report
8-K
2026-04-17
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Proxy Statement
DEF 14A
2026-03-06
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Annual Report
10-K
2026-01-30
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Current Report
8-K
2026-01-27
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Current Report
8-K
2025-12-08
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Current Report
8-K
2025-12-03
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Quarterly Report
10-Q
2025-10-29
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Current Report
8-K
2025-10-29
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Current Report
8-K
2025-08-28
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Other filings (89)
SCHEDULE 13G
xslSCHEDULE_13G_X02/primary_doc.xml
2026-04-29
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Insider Transaction
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Insider Transaction
xslF345X06/doc4.xml
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Insider Transaction
xslF345X06/doc4.xml
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Insider Transaction
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Insider Transaction
xslF345X06/doc4.xml
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xslF345X06/doc4.xml
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Insider Transaction
xslF345X06/doc4.xml
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DEFA14A
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xslSCHEDULE_13G_X02/primary_doc.xml
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144
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xslF345X05/doc4.xml
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xslF345X05/doc4.xml
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xslF345X05/doc4.xml
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Insider Transaction
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2026-02-19
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xslF345X05/doc4.xml
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xslF345X05/doc4.xml
2026-02-19
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xslF345X05/doc4.xml
2026-02-19
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xslF345X05/doc4.xml
2026-02-19
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144
xsl144X01/primary_doc.xml
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xslF345X05/doc4.xml
2026-02-05
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SCHEDULE 13G/A
xslSCHEDULE_13G_X01/primary_doc.xml
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144
xsl144X01/primary_doc.xml
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144
xsl144X01/primary_doc.xml
2026-02-04
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xslSCHEDULE_13G_X01/primary_doc.xml
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2026-01-06
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Insider Transaction
xslF345X05/doc4.xml
2026-01-06
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Insider Transaction
xslF345X05/doc4.xml
2026-01-06
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Insider Transaction
xslF345X05/doc4.xml
2026-01-06
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Insider Transaction
xslF345X05/doc4.xml
2026-01-06
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Insider Transaction
xslF345X05/doc4.xml
2026-01-06
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Insider Transaction
xslF345X05/doc4.xml
2026-01-06
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Insider Transaction
xslF345X05/doc4.xml
2026-01-06
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Insider Transaction
xslF345X05/doc4.xml
2026-01-06
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xslF345X05/doc4.xml
2026-01-05
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3
xslF345X02/doc3.xml
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2025-12-08
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xslF345X05/doc4.xml
2025-12-03
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xslF345X05/doc4.xml
2025-12-03
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Insider Transaction
xslF345X05/doc4.xml
2025-12-03
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Insider Transaction
xslF345X05/doc4.xml
2025-12-03
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Insider Transaction
xslF345X05/doc4.xml
2025-12-03
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Insider Transaction
xslF345X05/doc4.xml
2025-12-03
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Insider Transaction
xslF345X05/doc4.xml
2025-11-25
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Insider Transaction
xslF345X05/doc4.xml
2025-11-10
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144
xsl144X01/primary_doc.xml
2025-11-06
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Insider Transaction
xslF345X05/doc4.xml
2025-10-03
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Insider Transaction
xslF345X05/doc4.xml
2025-10-03
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xslF345X05/doc4.xml
2025-10-03
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xslF345X05/doc4.xml
2025-10-03
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xslF345X05/doc4.xml
2025-10-03
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xslF345X05/doc4.xml
2025-10-03
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Insider Transaction
xslF345X05/doc4.xml
2025-10-03
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Insider Transaction
xslF345X05/doc4.xml
2025-10-03
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Insider Transaction
xslF345X05/doc4.xml
2025-10-03
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Insider Transaction
xslF345X05/doc4.xml
2025-10-03
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Insider Transaction
xslF345X05/doc4.xml
2025-09-03
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3
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