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Boeing (BA)

Boeing is the world's largest aerospace company and leading manufacturer of commercial jetliners, defense, space and security systems, and service provider of aftermarket support. As America’s biggest manufacturing exporter, the company supports airlines and U.S. and allied government customers in more than 150 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training.

Company profile

Ticker
BA
Exchange
Website
CEO
David Calhoun
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Subsidiaries
Astro Limited • Aviall, Inc. • BCC Equipment Leasing Corporation • Boeing Aircraft Holding Company • Boeing Capital Corporation • Boeing CAS Holding GmbH • Boeing Defence Australia Ltd • Boeing Deutschland GmbH • Boeing Digital Solutions, Inc. • Boeing Distribution Services, Inc. ...
IRS number
910425694

BA stock data

Calendar

27 Jul 22
9 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 10.13B 10.13B 10.13B 10.13B 10.13B 10.13B
Cash burn (monthly) (no burn) (no burn) (no burn) 434.58M (no burn) 223.42M
Cash used (since last report) n/a n/a n/a 581.16M n/a 298.77M
Cash remaining n/a n/a n/a 9.55B n/a 9.83B
Runway (months of cash) n/a n/a n/a 22.0 n/a 44.0

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
29 Jul 22 Carol J. Hibbard Common Stock Grant Acquire A No No 0 7,132.729 0 19,183.146
1 Jul 22 Gitlin David L. Phantom Stock Units Common Stock Grant Acquire A No No 0 643.927 0 643.927
1 Jul 22 Lynne M Doughtie Phantom Stock Units Common Stock Grant Acquire A No No 0 360.763 0 1,662.878
1 Jul 22 Robert A Bradway Phantom Stock Units Common Stock Grant Acquire A No No 0 640.355 0 8,829.581
1 Jul 22 Johri Akhil Phantom Stock Units Common Stock Grant Acquire A No No 0 649.374 0 4,228.124
54.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 2086 2127 -1.9%
Opened positions 139 318 -56.3%
Closed positions 180 210 -14.3%
Increased positions 853 720 +18.5%
Reduced positions 770 788 -2.3%
13F shares Current Prev Q Change
Total value 62.34B 64.05B -2.7%
Total shares 322.06M 317.68M +1.4%
Total puts 31.01M 31.23M -0.7%
Total calls 24.48M 29.49M -17.0%
Total put/call ratio 1.3 1.1 +19.6%
Largest owners Shares Value Change
Newport Trust 43.51M $8.33B -0.9%
Vanguard 43.36M $8.3B +0.6%
BLK Blackrock 31.67M $6.07B +2.9%
STT State Street 26.6M $5.09B -0.0%
FMR 15.12M $2.9B +24.8%
Loomis Sayles & Co L P 12.74M $2.44B -4.7%
Geode Capital Management 8.86M $1.69B +2.9%
BAC Bank Of America 6.27M $1.2B +6.9%
MS Morgan Stanley 6.21M $1.19B +4.2%
NTRS Northern Trust 4.96M $949.43M -1.1%
Largest transactions Shares Bought/sold Change
FMR 15.12M +3M +24.8%
Verition Fund Management 15.42K -1.49M -99.0%
NA National Bank of Canada 140.13K -1.26M -90.0%
Clear Street 0 -990K EXIT
BLK Blackrock 31.67M +887.38K +2.9%
BCS Barclays 1.45M -884.43K -37.9%
IMC-Chicago 170.42K -876.26K -83.7%
Renaissance Technologies 707.2K +707.2K NEW
Wellington Management 1.14M +632.91K +125.0%
Loomis Sayles & Co L P 12.74M -626.22K -4.7%

Financial report summary

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Risks
  • Risks Related to COVID-19
  • We face significant risks related to the spread of the COVID-19 virus and developments surrounding the global pandemic have had, and will continue to have, significant effects on our business, financial condition, results of operations and cash flows. We also face significant risks related to the global economic downturn and severe reduction in commercial air traffic caused by the pandemic. These risks include materially reduced demand for our products and services, increased instability in our operations and in our supply chain and challenges to the ongoing viability of some of our customers. In addition, future vaccination mandates or other government requirements may further disrupt our operations and those of our customers and suppliers. We may face similar risks in connection with any future public health crises, including resurgences in the spread of COVID-19.
  • Risks Related to Our Business and Operations
  • We remain subject to a number of risks and uncertainties related to the 737 MAX. These risks include uncertainties regarding the timing and conditions of remaining 737 MAX regulatory approvals, lower than planned production rates and/or delivery rates, additional considerations to customers, increased supplier costs and supply chain health, changes to the assumptions and estimates made in our financial statements regarding the 737 program and potential outcomes of 737 MAX-related legal proceedings and government investigations that remain outstanding.
  • In addition to the impact of COVID-19 described above, our Commercial Airplanes and Global Services businesses depend heavily on commercial airlines, and are subject to unique risks.
  • Our Commercial Airplanes business depends on our ability to maintain a healthy production system, ensure every airplane in our production system conforms to our exacting specification, achieve planned production rate targets, successfully develop new aircraft or new derivative aircraft, and meet or exceed stringent performance and reliability standards.
  • Changes in levels of U.S. government defense spending or overall acquisition priorities could negatively impact our financial position and results of operations.
  • Our ability to deliver products and services that satisfy customer requirements is heavily dependent on the performance and financial stability of our subcontractors and suppliers, as well as on the availability of raw materials and other components.
  • Competition within our markets and with respect to the products we sell may reduce our future contracts and sales.
  • We derive a significant portion of our revenues from non-U.S. sales and are subject to the risks of doing business in other countries.
  • We use estimates in accounting for many contracts and programs. Changes in our estimates could adversely affect our future financial results.
  • We may not realize the anticipated benefits of mergers, acquisitions, joint ventures/strategic alliances or divestitures.
  • Risks Related to Our Contracts
  • We conduct a significant portion of our business pursuant to U.S. government contracts, which are subject to unique risks.
  • We enter into fixed-price contracts which could subject us to losses if we have cost overruns.
  • We enter into cost-type contracts, which also carry risks.
  • We enter into contracts that include in-orbit incentive payments that subject us to risks.
  • Risks Related to Cybersecurity and Business Disruptions
  • Unauthorized access to our, our customers’ and/or our suppliers’ information and systems could negatively impact our business.
  • Business disruptions could seriously affect our future sales and financial condition or increase our costs and expenses.
  • Risks Related to Legal and Regulatory Matters
  • The outcome of litigation and of government inquiries and investigations involving our business is unpredictable and an adverse decision in any such matter could have a material effect on our financial position and results of operations.
  • We may be adversely affected by global climate change or by legal, regulatory or market responses to such change.
  • Risks Related to Financing and Liquidity
  • We may be unable to obtain debt to fund our operations and contractual commitments at competitive rates, on commercially reasonable terms or in sufficient amounts.
  • Substantial pension and other postretirement benefit obligations have a material impact on our earnings, shareholders’ equity and cash flows from operations, and could have significant adverse impacts in future periods.
  • Our insurance coverage may be inadequate to cover all significant risk exposures.
  • A significant portion of our customer financing portfolio is concentrated among certain customers and in certain types of Boeing aircraft, which exposes us to concentration risks.
  • Some of our and our suppliers’ workforces are represented by labor unions, which may lead to work stoppages.
Management Discussion
  • Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • We are a global market leader in the design, development, manufacture, sale, service and support of commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems and services. We are one of the two major manufacturers of 100+ seat airplanes for the worldwide commercial airline industry and one of the largest defense contractors in the U.S. While our principal operations are in the U.S., we conduct operations in an expanding number of countries and rely on an extensive network of non-U.S. partners, key suppliers and subcontractors.
  • Our strategy is centered on successful execution in healthy core businesses – Commercial Airplanes (BCA), Defense, Space & Security (BDS) and Global Services (BGS) – supplemented and supported by Boeing Capital (BCC). Taken together, these core businesses have historically generated substantial earnings and cash flow that permit us to invest in new products and services. We focus on producing the products and providing the services that the market demands, and continue to find new ways to improve efficiency and quality to provide a fair return for our shareholders. BCA is committed to being the leader in commercial aviation by offering airplanes and services that deliver superior design, safety, efficiency and value to customers around the world. BDS integrates its resources in defense, intelligence, communications, security, space and services to deliver capability-driven solutions to customers at reduced costs. Our BDS strategy is to leverage our core businesses to capture key next-generation programs while expanding our presence in adjacent and international markets, underscored by an intense focus on growth and productivity. BGS provides support for commercial and defense through innovative, comprehensive and cost-competitive product and service solutions. BCC facilitates, arranges, structures and provides selective financing solutions for our Boeing customers.

Content analysis

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