Price to FCFE (P/FCFE)
Paying user area
Try for free
Boeing Co. pages available for free this week:
- Income Statement
- Common-Size Balance Sheet: Assets
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Boeing Co. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Free Cash Flow to Equity (FCFE)
Boeing Co., FCFE calculation
US$ in millions
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).
The financial information reveals significant fluctuations in both net cash provided by operating activities and free cash flow to equity (FCFE) over the five-year period. A substantial shift is observed between 2021 and 2022, followed by continued volatility through 2025.
- Net Cash from Operations
- Net cash provided by operating activities experienced a dramatic reversal from a substantial outflow of -3,416 million in 2021 to a positive inflow of 3,512 million in 2022. This positive trend continued into 2023, with cash from operations increasing to 5,960 million. However, a significant decline occurred in 2024, resulting in a substantial cash outflow of -12,080 million. The final year, 2025, shows a recovery to a positive, though modest, inflow of 1,065 million.
- Free Cash Flow to Equity (FCFE)
- FCFE mirrored the volatility seen in operating cash flows. A large negative value of -9,443 million was recorded in 2021, followed by a considerable improvement to 1,049 million in 2022. FCFE then decreased to -681 million in 2023. A sharp decline is evident in 2024, with FCFE reaching -12,861 million, representing the most negative value in the observed period. The trend continues negatively in 2025, with FCFE at -5,260 million, though less severe than the prior year.
The correlation between net cash from operations and FCFE is strong. Large swings in operating cash flow directly impact FCFE. The particularly negative values in 2024 and 2025 for both metrics suggest potential challenges in generating cash available to equity holders during those periods. The substantial outflow in 2024 warrants further investigation to understand the underlying drivers.
- Overall Trend
- The period is characterized by instability. While 2022 and 2023 showed improvements, the subsequent deterioration in 2024 and 2025 indicates a lack of consistent positive cash flow generation for equity holders. The significant negative FCFE values in the latter years could raise concerns regarding the company’s ability to fund future growth, dividends, or debt repayment without external financing.
Price to FCFE Ratio, Current
Boeing Co., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Caterpillar Inc. | |
| Eaton Corp. plc | |
| GE Aerospace | |
| Honeywell International Inc. | |
| Lockheed Martin Corp. | |
| RTX Corp. | |
| P/FCFE, Sector | |
| Capital Goods | |
| P/FCFE, Industry | |
| Industrials | |
Based on: 10-K (reporting date: 2025-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Boeing Co., historical P/FCFE calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Free cash flow to equity (FCFE) (in millions)2 | ||||||
| FCFE per share3 | ||||||
| Share price1, 4 | ||||||
| Valuation Ratio | ||||||
| P/FCFE5 | ||||||
| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| Caterpillar Inc. | ||||||
| Eaton Corp. plc | ||||||
| GE Aerospace | ||||||
| Honeywell International Inc. | ||||||
| Lockheed Martin Corp. | ||||||
| RTX Corp. | ||||||
| P/FCFE, Sector | ||||||
| Capital Goods | ||||||
| P/FCFE, Industry | ||||||
| Industrials | ||||||
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.
3 2025 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Boeing Co. Annual Report.
5 2025 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
The Price to Free Cash Flow to Equity (P/FCFE) ratio exhibits significant fluctuation over the observed period. The share price demonstrates an initial increase followed by a substantial decline and subsequent recovery. Free Cash Flow to Equity (FCFE) per share is highly volatile, alternating between negative and positive values.
- Share Price
- The share price increased from US$200.24 in 2021 to US$211.17 in 2022, remaining relatively stable at US$211.04 in 2023. A significant decrease is then observed in 2024, falling to US$175.87, before recovering to US$233.72 in 2025.
- FCFE per Share
- FCFE per share was negative in 2021 at US$-16.20, then turned positive in 2022, reaching US$1.75. It became negative again in 2023 at US$-1.12, and experienced a substantial decline in 2024 to US$-17.15. The value remains negative in 2025, at US$-6.70, though less severe than in 2024.
- P/FCFE Ratio
- The P/FCFE ratio is calculated for 2022, 2024, and 2025. In 2022, the ratio is reported as 120.43. It is not calculated for 2023, likely due to the negative FCFE per share. The ratio remains undefined for 2023. In 2024, the ratio is not calculated, again likely due to negative FCFE per share. In 2025, the ratio is not calculated, again likely due to negative FCFE per share.
The absence of a P/FCFE ratio calculation in multiple years is noteworthy, as it indicates periods where the company generated negative free cash flow to equity. The high value in 2022 suggests that investors were willing to pay a substantial premium for each dollar of FCFE. The volatility in both the share price and FCFE per share contributes to the instability of the P/FCFE ratio, making trend analysis challenging.