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The Boeing Company (BA) Fair Value & Analysis

Industrials · US · Market cap $171B · ISIN US0970231058

What is The Boeing Company really worth?

TB The Boeing Company logo The Boeing Company BA · US
Price$210.51
Fair Value$41.73
Upside−80.2%
Quality38/100

Below-average quality, and trading another 405% above our fair value of $41.73.

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Risks

!Expensive Growth (revenue 5y +9.0 %/yr)
!Thin margins · 2.5% net margin
!High debt · negative free cash flow
!Trails peers (3/13)
!Narrow moat 32/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 4 out of 100
Evidence: Low Range $29.21 – $63.26

Fair value as of: Aug 31, 2026

From 10 valuation models · updated 5 days ago

Share price −11.2% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case ($63.26). The favourable scenario is already priced in.
  • Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range ($29.21 to $63.26) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

$264.27 $115.86 Fair Value $41.73 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 31, 2026.

How to read this chart

60‑month range $115.86 – $264.27 · fair‑value band $29.21 – $63.26 · the $210.51 price screens above the $41.73 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 31, 2026.

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Analysis

The Boeing Company (BA) currently trades at $210.51, while our model-based Fair Value estimate is $41.73, implying the stock looks roughly 404.5% overvalued today. The Quality Score stands at 38/100 (below-average quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of $49.09 per share, and 0 of the 10 models we run sit above the $210.51 price. Bear case: the Asset-Based group reads lowest at $4.64, and 10 of the 10 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, The Boeing Company generated revenue of $92.2B at a net margin of 2.5%. Revenue grew 14.0% year over year. It earns a return on equity of 170.0%. Net debt stands at $43.5B. Fundamentals as of Aug 31, 2026

Our scenario range runs from $29.21 (bear case) to $63.26 (bull case); at $210.51, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic. The share trades about 17% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −44% fair-value upside, at −80%, BA screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $1.71 per share, which is 4.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely ($4.64 to $59.54). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth-Adj P/E $34.36 $49.09 $63.81 67
Gordon GGM $3.86 $7.19 $11.74 66
DDM Multi-Stage $3.86 $5.83 $7.97 66
All 10 models by family
Earnings-Based
Graham-Dodd $19.28 $47.96 $62.19 65
PEG = 1.0 $8.73 $12.47 $16.22 57
Dividend Discount
Gordon GGM $3.86 $7.19 $11.74 66
DDM Multi-Stage $3.86 $5.83 $7.97 66
Multiples
P/E Multiple $44.65 $59.54 $74.42 63
P/S Multiple $36.15 $48.20 $60.25 58
P/B Multiple $23.35 $31.13 $38.92 55
Asset-Based
NCAV (Graham) $3.46 $4.64 $6.92 54
Economic Profit
Residual Income $23.63 $38.91 $635.03 64
Growth Earnings
Growth-Adj P/E $34.36 $49.09 $63.81 67

Widest divergence: Growth Earnings ($49.09) versus Asset-Based ($4.64). Highest evidence: Growth-Adj P/E (67).

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Key figures & financial health

P/E ratio 82.9
P/S ratio 2.07 P/E × margin
EPS (TTM) $2.54 price ÷ EPS = P/E 82.9
Dividend yield 0.2% payout 16.0%
Net margin 2.5% FY2025
Return on equity 170% TTM
More key figures
Profitability
Return on assets (EBIT) −3.1% avg 5y
Operating margin 1.7% TTM
Growth
Revenue (TTM) $92.2B TTM
Revenue growth (YoY) +14.0% 3y avg +10.3%
EPS growth (YoY) −68.0%
Balance sheet & cash flow
Free cash flow −$1.9B FY2025
Net debt $43.5B FY2025

Figures from reported company fundamentals · as of Aug 31, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 38/100

Of which business quality 33 · Market factors (momentum, volatility) 41

Profitability 37
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 7
Earnings quality: real cash, not paper profit
Fin. Strength 9
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 53
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

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.

Full company description

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. The company operates through three segments: Commercial Airplanes; Defense, Space & Security; and Global Services. The Commercial Airplanes segment develops, produces, and markets commercial jet aircraft for passenger and cargo requirements. 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 Company was incorporated in 1916 and is based in Arlington, Virginia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

The Boeing Company reported revenue of $89.5B in FY2025 versus $62.3B in FY2021, a compound +9.5%/yr. Reported net income was $2.2B in FY2025.

Growth Quality 51/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
$89.5B
Latest YoY
+34.5%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.3%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.0%
Avg. revenue growth/yr (40Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.8%
Revenue +9.5%/yr
FY21 $62.3B
FY22 $66.6B
FY23 $77.8B
FY24 $66.5B
FY25 $89.5B
Net income
FY21 −$4.2B
FY22 −$4.9B
FY23 −$2.2B
FY24 −$11.8B
FY25 $2.2B

BA screens 405% overvalued. Compare with General Electric Company →

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Cite: Fair Value Calculator (2026). "The Boeing Company Fair Value". https://www.fairvalue-calculator.com/stock/BA

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Aerospace & Defense · 229 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 38 · Bottom 25%
Fair Value upside −80% · Bottom 25%
Return on equity (TTM) 170% · Top 25%
Return on assets −2% · Bottom 25%
Net margin (TTM) 2% · Below median
Operating margin (TTM) 2% · Bottom 25%
Revenue growth 14% · Above median
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 8.37× · Higher than 75% of peers

Valuation Multiples vs Aerospace & Defense median · lower = cheaper

P/E (TTM) 82.9× · Pricier than 75% of peers
P/B 31.38× · Pricier than 75% of peers
P/S (TTM) 1.86× · Cheaper than median
PEG 23.35× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE70 · sector 50
PAST100 · sector 38
HEALTH0 · sector 93
DIVIDEND4 · sector 16

VALUE 0: the price sits above our fair-value range.

Insider activity: 66/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Weapons Defense

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Aug 31, 2026).

Stock Price Fair Value vs Fair Value
General Electric Company GE $335.71 $116.71 −65%
RTX Corporation RTX $212.08 $88.37 −58%
Airbus SE AIR €213.00 €117.01 −45%
Lockheed Martin Corporation LMT $565.89 $419.01 −26%
Howmet Aerospace Inc HWM $264.85 $50.43 −81%
General Dynamics Corporation GD $379.32 $274.32 −28%
Northrop Grumman Corporation NOC $545.57 $356.59 −35%
TransDigm Group TDG $1,235 $571.03 −54%
L3Harris Technologies, Inc LHX $262.82 $146.55 −44%
Thales S.A HO €243.70 €171.13 −30%

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Frequently asked questions

Is The Boeing Company (BA) overvalued or undervalued?
As of Aug 31, 2026, our model estimates a fair value of $41.73 versus a price of $210.51, about −80% upside (overvalued).
What is the fair value of BA?
Our model-based fair value for The Boeing Company is $41.73 (as of Aug 31, 2026), built from audited fundamentals. The current price: $210.51.
What is the quality score of BA?
The Boeing Company has a Quality Score of 38/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of The Boeing Company (BA)?
The Boeing Company reported trailing-twelve-month revenue of about $92.2B (latest available figure, as of Aug 31, 2026).
What is the net profit margin of BA?
The net profit margin of The Boeing Company is about 2.5%, meaning it keeps roughly 2.5% of revenue as net income. Based on the latest reported figures.
Does The Boeing Company pay a dividend?
The Boeing Company currently shows a dividend yield of about 0.19% relative to its recent price (as of Aug 31, 2026).
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