Stock Analysis on Net

Boeing Co. (NYSE:BA)

$24.99

Enterprise Value (EV)

Microsoft Excel

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Current Enterprise Value (EV)

Boeing Co., current enterprise value calculation

Microsoft Excel
Current share price (P)
No. shares of common stock outstanding
US$ in millions
Common equity (market value)1
Add: Mandatory convertible preferred stock, 6.00% Series A, par value $1.00 (per books)
Add: Noncontrolling interests (per books)
Total equity
Add: Short-term debt and current portion of long-term debt (per books)
Add: Long-term debt, excluding current portion (per books)
Total equity and debt
Less: Cash and cash equivalents
Less: Short-term and other investments
Enterprise value (EV)

Based on: 10-K (reporting date: 2025-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


Historical Enterprise Value (EV)

Boeing Co., EV calculation

Microsoft Excel
Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Share price1, 2
No. shares of common stock outstanding1
US$ in millions
Common equity (market value)3
Add: Mandatory convertible preferred stock, 6.00% Series A, par value $1.00 (book value)
Add: Noncontrolling interests (book value)
Total equity
Add: Short-term debt and current portion of long-term debt (book value)
Add: Long-term debt, excluding current portion (book value)
Total equity and debt
Less: Cash and cash equivalents
Less: Short-term and other investments
Enterprise value (EV)

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Boeing Co. Annual Report.

3 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


The information presents a five-year trend of several financial metrics, including common equity market value, total equity, total equity and debt, and enterprise value. Overall, a general upward trend is observed in most metrics, particularly towards the end of the period, though with some fluctuations.

Common Equity (Market Value)
Common equity (market value) increased from US$116,740 million in 2021 to US$126,330 million in 2022, representing a growth of approximately 8.2%. A modest increase continued into 2023, reaching US$128,763 million, followed by a further increase to US$131,916 million in 2024. A significant jump is then observed in 2025, with the value reaching US$183,551 million, indicating substantial investor confidence or market revaluation during that year.
Total Equity
Total equity mirrors the trend of common equity, increasing from US$116,893 million in 2021 to US$126,365 million in 2022 (8.1% growth). It continued to rise to US$128,768 million in 2023 and US$131,916 million in 2024. Similar to common equity, a substantial increase is noted in 2025, reaching US$183,560 million, nearly matching the increase observed in common equity.
Total Equity and Debt
Total equity and debt exhibited an initial increase from US$174,995 million in 2021 to US$183,366 million in 2022 (4.8% growth). A slight decrease occurred in 2023, falling to US$181,075 million, before rising again to US$185,780 million in 2024. The most significant increase is observed in 2025, reaching US$237,658 million, suggesting increased reliance on debt financing or significant acquisitions during that period.
Enterprise Value (EV)
Enterprise value increased from US$158,751 million in 2021 to US$166,146 million in 2022 (4.6% growth). A slight decrease was observed in 2023, with EV falling to US$165,110 million, followed by a further decrease to US$159,498 million in 2024. A substantial increase is then seen in 2025, with EV reaching US$208,258 million. This final increase in EV aligns with the increases in both common equity and total equity and debt, indicating a significant overall increase in the company’s value.

The relationship between total equity and debt and enterprise value suggests that changes in debt levels contribute to fluctuations in overall company valuation. The pronounced increases in both equity and enterprise value in 2025 are particularly noteworthy and warrant further investigation to understand the underlying drivers.