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Boeing (BA) financial statements: income, balance sheet and cash flow

NYSE: BA · Industrials · United States

Signed off by OffScriptBySami on  · Updated

Data as of  · For information only, not investment advice.

In brief

Boeing (NYSE: BA) had total debt of USD 45.9 billion and cash and short-term investments of USD 20.0 billion at 30 Jun 2026, the end of Q2 2026, with total equity of USD 6.10 billion. Its Form 10-Q for the quarter reports operating income of USD 156 million and a net loss of USD 444 million.

Data as of Source: Form 10-Q for Q2 2026, filed

Key facts

Data as of

Boeing (NYSE: BA) · USD · fiscal year ends 31 December · figures from SEC filings; derived values are marked.

Revenue, TTM (USD bn)
94.0
TTM to · derived
Revenue by quarter, from USD 17.8 bn in Q3 2024 to USD 24.6 bn in Q2 2026
Operating income, TTM (USD bn)
4.60
TTM to · derived
Net income, TTM (USD bn)
2.44
TTM to · derived
Free cash flow, TTM (USD m)
−210
TTM to · derived
Total assets (USD bn)
166
at · Form 10-Q
Net debt (USD bn)
25.9
at · derived: total debt minus cash and short-term investments

What the numbers show

Boeing's income statement for Q2 2026, the quarter ended 30 Jun 2026, shows revenue of USD 24.6 billion, up 8.0% on a year earlier. Operating income was USD 156 million. The quarter closed with a net loss of USD 444 million, against a net loss of USD 611 million in Q2 2025.

Revenue was USD 89.5 billion in FY2025, up 34.5% from USD 66.5 billion in FY2024. Operating income was USD 4,281 million in FY2025, after an operating loss of USD 10,707 million in FY2024. Net income of USD 2,235 million was the only annual profit among the five fiscal years shown. Cost of revenue and gross profit for FY2022 and FY2021 carry the mark R: the 10-K filed 31 Jan 2024 restated them, and a footnote gives each original.

A 10-Q has no fourth quarter, so each Q4 column is our derivation, the full year less the first nine months, marked D. Q4 2025 operating income was USD 8,777 million, against an operating loss of USD 4,781 million in Q3 2025 and a profit of USD 448 million in Q1 2026. It includes a gain on the sale of part of the Digital Aviation Solutions business, which closed on 31 Oct 2025.

Boeing's balance sheet at 30 Jun 2026 showed total assets of USD 165.9 billion and total liabilities of USD 159.8 billion. Total equity was USD 6.10 billion. It was negative USD 3.91 billion at the end of FY2024 and negative USD 8.25 billion at 30 Sep 2025, then turned positive at 31 Dec 2025. Equity was below zero for most of the run, so the page prints no ratio built on it. Current assets exceeded current liabilities at every quarter-end shown.

Total debt went from USD 54.1 billion at 31 Dec 2025 to USD 45.9 billion at 30 Jun 2026. Cash and short-term investments went from USD 29.4 billion to USD 20.0 billion. Net debt, our calculation, therefore edged up from USD 24.7 billion to USD 25.9 billion; it was USD 41.9 billion at the end of FY2021. Cash flow from financing was negative USD 7,028 million in Q1 2026, the quarter in which most of the debt came down.

Boeing's cash flow statement shows cash from operations of USD 1,065 million in FY2025, after negative USD 12,080 million in FY2024. Free cash flow, our calculation, was negative USD 1,877 million in FY2025. It was positive at USD 631 million in Q2 2026, after negative USD 1,454 million in Q1 2026, and over the 4 quarters to 30 Jun 2026 it was negative USD 210 million. The 10-Q guide explains the year-to-date layout behind the D cells, and Boeing stock fundamentals follows the quarterly operating income and net debt.

Income statement

Chart 1

Boeing quarterly revenue, Q3 2024 to Q2 2026

USD bn · quarters ended to

Revenue by quarter, from USD 17.8 bn in Q3 2024 to USD 24.6 bn in Q2 2026.010203024.6Q32024Q4Q12025Q2Q3Q4Q12026Q2stockfactsheet.com
Source: Boeing Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

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Table 1 Boeing income statement, annual, FY2021–FY2025 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends 31 December
USD mFY2025ended FY2024ended FY2023ended FY2022ended FY2021ended CAGRFY21–FY25
Revenue89,46366,51777,79466,60862,286increased 9.5%
Revenue YoY %increased 34.5%decreased 14.5%increased 16.8%increased 6.9%increased 7.1%not available
Cost of revenue85,17468,50870,07063,078 R59,237 Rincreased 9.5%
Gross profit4,289−1,9917,7243,530 R3,049 Rincreased 8.9%
Gross margin %4.8%−3.0%9.9%5.3% R4.9% Rnot available
R&D3,6153,8123,3772,8522,249increased 12.6%
Operating income4,281−10,707−773−3,519 R−2,870 Rn/m
Operating margin %4.8%−16.1%−1.0%−5.3% R−4.6% Rnot available
Pre-tax income2,635−12,210−2,005−5,022−5,033n/m
Income tax397−38123731−743n/m
Net income2,235−11,817−2,222−4,935−4,202n/m
Net margin %2.5%−17.8%−2.9%−7.4%−6.7%not available
Per share
Diluted EPS (USD)2.48−18.36−3.67−8.30−7.15n/m
Diluted shares (m)762647606595588not available
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Source: Boeing Forms 10-Q and 10-K, SEC EDGAR Data as of

  • R Restated in Form 10-K filed ; originally reported USD 63,106 m in Form 10-K filed .
  • R Restated in Form 10-K filed ; originally reported USD 59,269 m in Form 10-K filed .
  • R Restated in Form 10-K filed ; originally reported USD 3,502 m in Form 10-K filed .
  • R Restated in Form 10-K filed ; originally reported USD 3,017 m in Form 10-K filed .
  • R Uses FY2022 gross profit as restated in Form 10-K filed (USD 3,530 m; originally reported USD 3,502 m in Form 10-K filed ).
  • R Uses FY2021 gross profit as restated in Form 10-K filed (USD 3,049 m; originally reported USD 3,017 m in Form 10-K filed ).
  • R Restated in Form 10-K filed ; originally reported USD −3,547 m in Form 10-K filed .
  • R Restated in Form 10-K filed ; originally reported USD −2,902 m in Form 10-K filed .
  • R Uses FY2022 operating income as restated in Form 10-K filed (USD −3,519 m; originally reported USD −3,547 m in Form 10-K filed ).
  • R Uses FY2021 operating income as restated in Form 10-K filed (USD −2,870 m; originally reported USD −2,902 m in Form 10-K filed ).
  • Not available
  • Not meaningful

CAGR: compound annual growth rate from FY2021 to FY2025, our calculation; n/m when the endpoints differ in sign or the base is zero or negative.

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Quarterly

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Table 2 Boeing income statement, quarterly, Q3 2024–Q2 2026 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends 31 December
USD mQ2 2026ended Q1 2026ended Q4 2025ended Q3 2025ended Q2 2025ended Q1 2025ended Q4 2024ended Q3 2024ended
Revenue24,56022,21723,948 D23,27022,74919,49615,242 D17,840
Revenue YoY %increased 8.0%increased 14.0%increased 57.1%increased 30.4%increased 34.9%increased 17.7%decreased 30.8%decreased 1.5%
Cost of revenue22,14619,67122,136 D25,64520,31417,07916,831 D21,347
Gross profit2,4142,5461,812 D−2,3752,4352,417−1,589 D−3,507
Gross margin %9.8%11.5%7.6%−10.2%10.7%12.4%−10.4%−19.7%
R&D921903964 D897910844836 D1,154
Operating income1564488,777 D−4,781−176461−3,770 D−5,761
Operating margin %0.6%2.0%36.7%−20.5%−0.8%2.4%−24.7%−32.3%
Pre-tax income−365268,319 D−5,199−56176−4,093 D−6,224
Income tax633399 D14051107−232 D−50
Net income−444−48,220 D−5,337−611−37−3,865 D−6,170
Net margin %−1.8%0.0%34.3%−22.9%−2.7%−0.2%−25.4%−34.6%
Per share
Diluted EPS (USD)−0.67−0.11not available−7.14−0.92−0.16not available−9.97
Diluted shares (m)791788not available760757753not available619
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Source: Boeing Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • Not available

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Balance sheet

Annual

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Table 3 Boeing assets, annual, FY2021–FY2025 (USD millions) USD millions
USD mFY2025at FY2024at FY2023at FY2022at FY2021at
Cash and short-term investments29,400 D26,282 D15,965 D17,220 D16,200
Receivables2,9212,6312,6492,5172,641
Total current assets128,459127,998109,275109,523108,666
PP&E (net)15,36111,41210,66110,55010,918
Goodwill and intangibles18,842 D10,041 D10,187 D10,368 D10,630 D
Total assets168,235156,363137,012137,100138,552
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Source: Boeing Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
  • D Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.

Totals may not add up because of rounding.

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Table 4 Boeing liabilities and shareholders' equity, annual, FY2021–FY2025 (USD millions) USD millions · net cash shown as a negative net debt
USD mFY2025at FY2024at FY2023at FY2022at FY2021at
Current liabilities108,11597,07895,82790,05281,992
Total debt54,098 D53,864 D52,307 D57,001 D58,102 D
Total liabilities162,778160,277154,240152,948153,398
Shareholders' equity5,454−3,908−17,233−15,883−14,999
Net debt / (net cash)24,698 D27,582 D36,342 D39,781 D41,902 D
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Source: Boeing Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Total debt = short-term debt + long-term debt, from the same filing.
  • D Net debt = total debt minus cash and short-term investments; a negative value is net cash.

Totals may not add up because of rounding.

Quarterly

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Table 5 Boeing assets, quarterly, Q3 2024–Q2 2026 (USD millions) USD millions
USD mQ2 2026at Q1 2026at Q4 2025at Q3 2025at Q2 2025at Q1 2025at Q4 2024at Q3 2024at
Cash and short-term investments20,022 D20,905 D29,400 D22,984 D22,967 D23,674 D26,282 D10,500
Receivables3,5153,4852,9213,3143,1903,2042,6312,894
Total current assets124,630124,141128,459122,132127,301127,662127,998109,436
PP&E (net)16,32115,76315,36112,07811,65811,45911,41211,236
Goodwill and intangibles19,085 D19,150 D18,842 D8,776 D8,822 D9,995 D10,041 D10,123 D
Total assets165,870164,787168,235150,023155,120156,494156,363137,695
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Source: Boeing Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
  • D Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.

Totals may not add up because of rounding.

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Table 6 Boeing liabilities and shareholders' equity, quarterly, Q3 2024–Q2 2026 (USD millions) USD millions · net cash shown as a negative net debt
USD mQ2 2026at Q1 2026at Q4 2025at Q3 2025at Q2 2025at Q1 2025at Q4 2024at Q3 2024at
Current liabilities109,563105,547108,115103,324103,376103,65497,07897,300
Total debt45,900 D47,209 D54,098 D53,353 D53,323 D53,618 D53,864 D57,650 D
Total liabilities159,755158,800162,778158,276158,416159,819160,277161,257
Shareholders' equity6,1005,9875,454−8,250−3,295−3,325−3,908−23,552
Net debt / (net cash)25,878 D26,304 D24,698 D30,369 D30,356 D29,944 D27,582 D47,150 D
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Source: Boeing Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Total debt = short-term debt + long-term debt, from the same filing.
  • D Net debt = total debt minus cash and short-term investments; a negative value is net cash.

Totals may not add up because of rounding.

Cash flow

Chart 2

Boeing quarterly free cash flow, Q3 2024 to Q2 2026

USD bn · quarters ended to

Free cash flow by quarter, from USD −1.96 bn in Q3 2024 to USD 631 m in Q2 2026.−6−4−202−2.0−4.1−2.3−0.2−1.50.6Q32024Q4Q12025Q2Q3Q4Q12026Q2stockfactsheet.com
Source: Boeing Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

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Table 7 Boeing cash flow, annual, FY2021–FY2025 (USD millions) USD millions · outflows shown with a minus sign
USD mFY2025ended FY2024ended FY2023ended FY2022ended FY2021ended
Cash from operations1,065−12,0805,9603,512−3,416
Capital expenditure−2,942−2,230−1,527−1,222−980
Free cash flow−1,877 D−14,310 D4,433 D2,290 D−4,396 D
Dividends paid−331not availablenot availablenot availablenot available
Cash from investing499−11,973−2,4374,3709,324
Cash from financing−3,76325,209−5,487−1,266−5,600
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Source: Boeing Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Free cash flow = cash from operations minus capital expenditure.
  • Not available

Totals may not add up because of rounding.

Quarterly

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Table 8 Boeing cash flow, quarterly, Q3 2024–Q2 2026 (USD millions) USD millions · outflows shown with a minus sign
USD mQ2 2026ended Q1 2026ended Q4 2025ended Q3 2025ended Q2 2025ended Q1 2025ended Q4 2024ended Q3 2024ended
Cash from operations1,364 D−1791,331 D1,123 D227 D−1,616−3,450 D−1,345 D
Capital expenditure−733 D−1,275−956 D−885 D−427 D−674−648 D−611 D
Free cash flow631 D−1,454 D375 D238 D−200 D−2,290 D−4,098 D−1,956 D
Dividends paid−86−86−87 D−86−86−72not availablenot available
Cash from investing−2,082 D5,7116,400 D−1,955 D−2,229 D−1,717−12,626 D679 D
Cash from financing−1,485 D−7,028−2,951 D−87 D−387 D−33819,971 D−300 D
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Source: Boeing Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • D Free cash flow = cash from operations minus capital expenditure.
  • Not available

Totals may not add up because of rounding.

Per share and dividends

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Table 9 Boeing per-share data and dividends, annual, FY2021–FY2025 USD per share, split-adjusted · shares in millions
USDFY2025ended FY2024ended FY2023ended FY2022ended FY2021ended
Basic EPS (USD)2.49−18.36−3.67−8.30−7.15
Diluted EPS (USD)2.48−18.36−3.67−8.30−7.15
Diluted shares (m)762647606595588
Shares outstanding at year end (m)1,0121,0121,0121,0121,012
FCF cover (×)n/mnot availablenot availablenot availablenot available
(opens in new tab)

Source: Boeing Forms 10-Q and 10-K, SEC EDGAR Data as of

  • Not available
  • Not meaningful

Notes on these figures

  • R Restated
    • Restated in Form 10-K filed ; originally reported USD 63,106 m in Form 10-K filed .
    • Restated in Form 10-K filed ; originally reported USD 59,269 m in Form 10-K filed .
    • Restated in Form 10-K filed ; originally reported USD 3,502 m in Form 10-K filed .
    • Restated in Form 10-K filed ; originally reported USD 3,017 m in Form 10-K filed .
    • Uses FY2022 gross profit as restated in Form 10-K filed (USD 3,530 m; originally reported USD 3,502 m in Form 10-K filed ).
    • Uses FY2021 gross profit as restated in Form 10-K filed (USD 3,049 m; originally reported USD 3,017 m in Form 10-K filed ).
    • Restated in Form 10-K filed ; originally reported USD −3,547 m in Form 10-K filed .
    • Restated in Form 10-K filed ; originally reported USD −2,902 m in Form 10-K filed .
    • Uses FY2022 operating income as restated in Form 10-K filed (USD −3,519 m; originally reported USD −3,547 m in Form 10-K filed ).
    • Uses FY2021 operating income as restated in Form 10-K filed (USD −2,870 m; originally reported USD −2,902 m in Form 10-K filed ).
  • D Derived by StockFactsheet
    • Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
    • Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
    • Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.
    • Total debt = short-term debt + long-term debt, from the same filing.
    • Net debt = total debt minus cash and short-term investments; a negative value is net cash.
    • Free cash flow = cash from operations minus capital expenditure.
    • Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
  • Template: standard statement set (not bank or insurer).
  • Arrows show direction of change only, not whether a change is good or bad.

How we got these numbers

Every figure comes from Boeing's Forms 10-Q and 10-K as filed with the SEC. Derived values are marked D and explained below.

Full method for this page
Source documents
Forms 10-Q (Q3 2024 to Q2 2026) and 10-K (FY2021 to FY2025)
Period covered
8 quarters and 5 fiscal years
Calculations
TTM = sum of the last 4 quarters. Q4 = fiscal year minus the nine-month YTD. Margins = line item ÷ revenue. FCF = cash from operations − capital expenditure. CAGR = compound annual growth across the annual table.
Restatements
FY2022 gross profit, an input of the FY2022 ratio, was restated in Form 10-K filed (originally USD 3,502 m). FY2021 gross profit, an input of the FY2021 ratio, was restated in Form 10-K filed (originally USD 3,017 m). FY2022 operating income, an input of the FY2022 ratio, was restated in Form 10-K filed (originally USD −3,547 m). FY2021 operating income, an input of the FY2021 ratio, was restated in Form 10-K filed (originally USD −2,902 m). Restated figures carry the R marker; its footnote gives the originally reported value.
Comparator
None: this page shows the company's own figures only.
Currency
As reported (USD); no FX conversion.
Read the full methodology

CSV downloads

One file per statement, with the annual and quarterly figures on this page in full units.

Sources and data

Data as of Figures are as reported in the filings below. Derived figures are our calculations (see Methodology).

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  1. [1] Filing Form 10-Q, quarter ended 30 Jun 2026 The Boeing Company · · sec.gov
  2. [2] Filing Form 10-Q, quarter ended 31 Mar 2026 The Boeing Company · · sec.gov
  3. [3] Filing Form 10-K, fiscal year ended 31 Dec 2025 The Boeing Company · · sec.gov
  4. [4] Filing Form 10-Q, quarter ended 30 Sep 2025 The Boeing Company · · sec.gov
  5. [5] Filing Form 10-Q, quarter ended 30 Jun 2025 The Boeing Company · · sec.gov
  6. [6] Filing Form 10-Q, quarter ended 31 Mar 2025 The Boeing Company · · sec.gov
  7. [7] Filing Form 10-K, fiscal year ended 31 Dec 2024 The Boeing Company · · sec.gov
  8. [8] Filing Form 10-Q, quarter ended 30 Sep 2024 The Boeing Company · · sec.gov
  9. [9] Filing Form 10-K, fiscal year ended 31 Dec 2023 The Boeing Company · · sec.gov
  10. [10] Filing Form 10-K, fiscal year ended 31 Dec 2022 The Boeing Company · · sec.gov
  11. [11] Filing Form 10-K, fiscal year ended 31 Dec 2021 The Boeing Company · · sec.gov
  12. [12] Filing Form 10-Q, quarter ended 30 Jun 2024 The Boeing Company · · sec.gov
  13. [13] Filing Form 10-Q, quarter ended 31 Mar 2024 The Boeing Company · · sec.gov
  14. [14] Filing Form 10-Q, quarter ended 30 Sep 2023 The Boeing Company · · sec.gov
  15. [15] Filing Form 10-K, fiscal year ended 31 Dec 2020 The Boeing Company · · sec.gov
  16. [16] Our dataset StockFactsheet fundamentals dataset, extracted from SEC EDGAR XBRL on ; derived values (Q4, TTM, free cash flow, net debt, margins, growth rates and ratios) are explained in Methodology.

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StockFactsheet (2026). "Boeing (BA) financial statements: income, balance sheet and cash flow." Signed off by OffScriptBySami. Updated ; data as of . https://stockfactsheet.com/stocks/ba/financials/

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