Boeing Co., FCFE calculation

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net loss attributable to Boeing Shareholders	(11,817)	(2,222)	(4,935)	(4,202)	(11,873)
Net loss attributable to noncontrolling interest	(12)	(20)	(118)	(88)	(68)
Net noncash charges	8,517)	4,113)	4,426)	7,851)	10,866)
Changes in assets and liabilities	(8,768)	4,089)	4,139)	(6,977)	(17,335)
Net cash provided (used) by operating activities	(12,080)	5,960)	3,512)	(3,416)	(18,410)
Payments to acquire property, plant and equipment	(2,230)	(1,527)	(1,222)	(980)	(1,303)
Proceeds from disposals of property, plant and equipment	49)	27)	35)	529)	296)
Purchase of distribution rights	(88)	—)	—)	—)	—)
New borrowings	10,161)	75)	34)	9,795)	47,248)
Debt repayments	(8,673)	(5,216)	(1,310)	(15,371)	(10,998)
Free cash flow to equity (FCFE)	(12,861)	(681)	1,049)	(9,443)	16,833)

Based on: 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), 10-K (reporting date: 2020-12-31).

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Item	Description	The company
FCFE	Free cash flow to equity is the cash flow available to Boeing Co. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made.	Boeing Co. FCFE decreased from 2022 to 2023 and from 2023 to 2024.

Boeing Co., current P/FCFE calculation, comparison to benchmarks

No. shares of common stock outstanding	750,074,411
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)	(12,861)
FCFE per share	-17.15
Current share price (P)	176.23
Valuation Ratio
P/FCFE	—
Benchmarks
P/FCFE, Competitors¹
Caterpillar Inc.	15.65
Eaton Corp. plc	36.25
GE Aerospace	52.76
Honeywell International Inc.	29.50
Lockheed Martin Corp.	13.20
RTX Corp.	84.24
P/FCFE, Sector
Capital Goods	23.83
P/FCFE, Industry
Industrials	26.76

Based on: 10-K (reporting date: 2024-12-31).

¹ Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Boeing Co., historical P/FCFE calculation, comparison to benchmarks

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
No. shares of common stock outstanding¹	750,074,411	610,135,205	598,239,585	582,999,765	582,996,860
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)²	(12,861)	(681)	1,049)	(9,443)	16,833)
FCFE per share³	-17.15	-1.12	1.75	-16.20	28.87
Share price^1, 4	175.87	211.04	211.17	200.24	195.84
Valuation Ratio
P/FCFE⁵	—	—	120.43	—	6.78
Benchmarks
P/FCFE, Competitors⁶
Caterpillar Inc.	—	14.39	24.03	16.36	25.22
Eaton Corp. plc	—	33.65	28.68	24.43	25.59
GE Aerospace	53.26	225.15	44.45	—	—
Honeywell International Inc.	—	26.10	27.59	46.23	12.59
Lockheed Martin Corp.	13.31	13.13	11.63	14.65	15.57
RTX Corp.	85.26	7.05	26.71	35.07	—
P/FCFE, Sector
Capital Goods	—	20.26	25.94	—	74.91
P/FCFE, Industry
Industrials	—	24.32	25.12	—	40.73

Based on: 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), 10-K (reporting date: 2020-12-31).

¹ Data adjusted for splits and stock dividends.

² See details »

³ 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= -12,861,000,000 ÷ 750,074,411 = -17.15

⁴ Closing price as at the filing date of Boeing Co. Annual Report.

⁵ 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 175.87 ÷ -17.15 = —

⁶ Click competitor name to see calculations.

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Boeing Co. (NYSE:BA)

Price to FCFE (P/FCFE)

Free Cash Flow to Equity (FCFE)

Price to FCFE Ratio, Current

Price to FCFE Ratio, Historical