Boeing (BA)财务
NYSE · Industrials · Aerospace & Defense · 员工182,000人 · CEO Robert K. Ortberg
- 股价
- $171.55 -0.64%
- 市值
- $1360亿
- 企业价值
- $1720亿
- 最近财报
- Q3 '26 2026-10-27提交
- 下次财报
- 2027-01-26 EPS预期 -$0.66
营收(TTM)$949亿+17.5% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)-0.2%+10.3 百分点 对比去年同期营业利润 -$1.5亿
净利润(TTM)$76.6亿+177.7% 对比去年同期税后,含营业外收益
自由现金流(TTM)-$15.4亿+67.8% 对比去年同期资本支出 $55.6亿
稀释EPS(TTM)$9.19+167.2% 对比去年同期最近4个季度之和
净现金-$252亿+17.0% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1360亿 EV $1720亿
- 营收
- $949亿 过去12个月
- 营收增速
- +8% FY2026年一致预期
- 净利润率
- 8.1% 净利润 / 营收,TTM
- P/E
- 18.0× 预期 -97.9×(FY2026)
- P/S
- 1.4× 股价 / 营收,TTM
- EV / EBITDA
- 14.4× TTM
- 自由现金流
- -$15.4亿 过去12个月
- 净利润
- $76.6亿 过去12个月
- 营收预期
- $969亿 FY2026年一致预期
- 盈利
- 2027-01-26 营收预期 $257亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-27):营收超预期1.0%,EPS 低于预期33.4%营收$242亿,预期$239亿(+1.0%);EPS -$0.34,预期-$0.25(-33.4%)。
- 营收增长放缓:同比3.9%Q3 '26营收$242亿,此前四个季度的平均值为27.4%。
- 营业利润率-0.2%(TTM),较去年同期+10.3 百分点营收增长17.5%,营业利润增长98.2%。
- 税前利润的101.9%来自营业外收益税前利润$78.6亿,营业利润-$1.5亿(TTM)。股权投资收益等一次性项目推高了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的5.9%(去年为1.3%)最近4个季度投入$55.6亿(同比+416.7%)。自由现金流-$15.4亿,相当于净利润的-20.2%。
- 稀释股数一年内增加3.2%Q3 '26稀释股数7.81亿,一年前为7.57亿。
- 净债务 $252亿现金 + 短期投资 $207亿,含租赁债务 $459亿;一年前净债务 $304亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $242亿 | $233亿 | +3.9% |
| 毛利率 | 9.0% | -10.2% | +19.2 百分点 |
| 营业利润 | $1.39亿 | -$47.9亿 | +102.9% |
| 营业利润率 | 0.6% | -20.6% | +21.2 百分点 |
| 净利润 | -$1.16亿 | -$53.4亿 | +97.8% |
| 稀释EPS | -$0.26 | -$7.14 | +96.4% |
| 经营现金流 | $15亿 | $11.2亿 | +33.2% |
| 资本支出 | $10.3亿 | -$6.74亿 | +253.1% |
| 自由现金流 | $4.64亿 | $18亿 | -74.2% |
| R&D | $8.3亿 | $8.97亿 | -7.5% |
| 股权激励费用 | $9700万 | $8900万 | +9.0% |
实际 vs 一致预期
2026-10-27| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $242亿 | $239亿 | +1.0% |
| EPS(一致预期口径) | -$0.34 | -$0.25 | -33.4% |
来自2026-10-27发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Commercial Airplanes Segment | $107亿 | -3.4% | 44.2% | $431亿 | +23.4% | |
| Boeing Defense Space Security Segment | $79.4亿 | +15.0% | 32.8% | – | – | |
| Global Services | $55.7亿 | +3.8% | 23.0% | – | – |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Commercial Airplanes Segment | $106亿 | -3.9% | 57.2% | – | – | |
| Boeing Defense Space Security Segment | $79.4亿 | +15.0% | 42.8% | – | – |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Commercial Airplanes Segment | – | – | -$6.97亿 | +87.0% | – | – | -$22.1亿 |
| Boeing Defense Space Security Segment | – | – | $4.92亿 | +331.6% | – | – | – |
| Global Services | – | – | $10.2亿 | +8.6% | – | – | – |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $40.1亿
- 资本支出
- -$55.6亿
- 股票回购
- -$3200万
- 股息
- $0
- 收购
- -$11.7亿
- 债务净发行
- -$112亿
- 股权激励费用
- $3.38亿
- 自由现金流
- -$15.4亿
- 股东回报 / FCF
- -2.1%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 18.0× | 87.2× 5年中的1年 | 87.2× – 87.2× |
| EV / EBITDA | 14.4× | 56.9× 5年中的2年 | 28.4× – 85.4× |
| EV / 营收 | 1.8× | 2.5× | 2.3× – 2.7× |
| 股价 / FCF | -88.1× | 42.5× 5年中的2年 | 35.6× – 49.5× |
| 股价 / 净资产 | 20.5× | 30.3× 5年中的1年 | 30.3× – 30.3× |
| FCF收益率 | -1.1% | -2.5% | -12.6% – 2.8% |
| 投入资本回报率 | -0.2% | -4.9% | -17.2% – 5.3% |
| 净资产收益率 | 127.1% | 83.1% | 12.9% – 302.4% |
分析师
一致目标价 $243.73 (+42.1%)
区间 $195.00 – $305.00 · 评级 Buy
强烈买入0
买入39
持有12
卖出4
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $969亿 | +8.3% | -$1.75 | -170.6% | -97.9× | 15 |
| FY2027 | $1090亿 | +12.9% | $1.42 | +181.1% | 120.7× | 13 |
| FY2028 | $1210亿 | +11.0% | $5.48 | +285.5% | 31.3× | 14 |
| FY2029 | $1340亿 | +10.2% | $9.01 | +64.4% | 19.0× | 7 |
| FY2030 | $1460亿 | +9.1% | $11.95 | +32.6% | 14.4× | 11 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
The Boeing Company在近期10-Q / 10-K文件中标记的全部357项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $153亿 | $117亿 | +30.3% | $131亿 | $114亿 | +15.4% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $40.7亿 | $33.1亿 | +22.8% | $29.2亿 | $26.3亿 | +11.0% |
| Accounts Receivable, Allowance for Credit Loss | $8200万 | $7500万 | +9.3% | $7600万 | $9200万 | -17.4% |
| Accounts Receivable, Allowance for Credit Loss, Recovery | $100万2025-12-31 | $0 | – | $200万 | $100万 | +100.0% |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | $600万 | $800万 | -25.0% | $1800万 | $4100万 | -56.1% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $1000万 | $700万 | +42.9% | $400万 | $4500万 | -91.1% |
| Accrual for Environmental Loss Contingencies | $12亿 | $9.08亿 | +32.3% | $8.77亿 | $8.34亿 | +5.2% |
| Accrual for Environmental Loss Contingencies, Payments | $1900万 | $1800万 | +5.6% | $9500万 | $1.2亿 | -20.8% |
| Accrual for Environmental Loss Contingencies, Revision in Estimates | $2.49亿 | $7800万 | +219.2% | $1.38亿 | $1.1亿 | +25.5% |
| Accrued Liabilities, Current | $264亿 | $244亿 | +8.5% | $271亿 | $241亿 | +12.6% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $245亿 | $235亿 | +4.4% | $236亿 | $229亿 | +3.0% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$100亿 | -$105亿 | +5.0% | -$103亿 | -$109亿 | +5.8% |
| Additional Paid in Capital | $222亿 | $192亿 | +15.6% | $214亿 | $190亿 | +13.1% |
| Amortization of Intangible Assets | – | – | – | $2.04亿 | $2.23亿 | -8.5% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $9700万 | $8900万 | +9.0% | $4.26亿 | $4.07亿 | +4.7% |
| Asset Impairment Charges | $1.04亿 | $200万 | +5,100.0% | $4500万 | $1.12亿 | -59.8% |
| Assets | $1710亿 | $1500亿 | +13.8% | $1680亿 | $1560亿 | +7.6% |
| Assets, Current | $1290亿 | $1220亿 | +5.8% | $1280亿 | $1280亿 | +0.4% |
| Assumed Premiums Written | – | – | – | $9900万 | $1.1亿 | -10.0% |
| Capital Expenditures Incurred but Not yet Paid | – | – | – | $8.47亿 | $5.91亿 | +43.3% |
| Capitalized Computer Software, Accumulated Amortization | $11.9亿 | $9.47亿 | +25.2% | $10.1亿 | $10.9亿 | -6.5% |
| Cash and Cash Equivalents, at Carrying Value | $95亿 | $61.7亿 | +53.9% | $109亿 | $138亿 | -20.9% |
| Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $2400万 | -$300万 | +900.0% | $1600万 | -$6400万 | +125.0% |
| Cash Surrender Value of Life Insurance | $3.31亿2025-12-31 | $3.42亿 | -3.2% | $3.31亿 | $3.42亿 | -3.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $95.4亿 | $68.8亿 | +38.6% | $117亿 | $138亿 | -15.6% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $16.2亿 | -$9.14亿 | +276.8% | -$21.6亿 | $11.1亿 | -294.7% |
| Ceded Premiums Written | – | – | – | $1.23亿 | $1.23亿 | 0.0% |
| Common Stock, Par or Stated Value Per Share | $5.00 | $5.00 | 0.0% | $5.00 | $5.00 | 0.0% |
| Common Stock, Shares Authorized | 12亿 | 12亿 | 0.0% | 12亿 | 12亿 | 0.0% |
| Common Stock, Shares, Issued | 10.1亿 | 10.1亿 | 0.0% | 10.1亿 | 10.1亿 | 0.0% |
| Common Stock, Shares, Outstanding | 10.1亿2025-12-31 | 10.1亿 | 0.0% | 10.1亿 | 10.1亿 | 0.0% |
| Common Stock, Value, Issued | $50.6亿 | $50.6亿 | 0.0% | $50.6亿 | $50.6亿 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $0 | -$200万 | +100.0% | $300万 | -$1200万 | +125.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $400万 | -$53.4亿 | +100.1% | $28.7亿 | -$124亿 | +123.1% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $400万 | -$53.4亿 | +100.1% | $28.8亿 | -$124亿 | +123.1% |
| Contract with Customer, Asset, Allowance for Credit Loss | $2200万 | $4200万 | -47.6% | $4200万 | $3800万 | +10.5% |
| Contract with Customer, Asset, Credit Loss Expense (Reversal) | -$1000万 | -$100万 | -900.0% | $400万 | $1900万 | -78.9% |
| Contract with Customer, Liability, Current | $675亿 | $580亿 | +16.5% | $594亿 | $603亿 | -1.5% |
| Contract with Customer, Liability, Revenue Recognized | $44.9亿 | $52.5亿 | -14.5% | $206亿 | $145亿 | +41.7% |
| Contract with Customer, Receivable, before Allowance for Credit Loss, Current | $65.6亿2025-12-31 | $63.5亿 | +3.3% | $65.6亿 | $63.5亿 | +3.3% |
| Contract with Customer, Receivable, before Allowance for Credit Loss, Noncurrent | $26.4亿2025-12-31 | $20.5亿 | +28.8% | $26.4亿 | $20.5亿 | +28.8% |
| Contracts Receivable, Claims and Uncertain Amounts | $8900万2025-12-31 | $6000万 | +48.3% | $8900万 | $6000万 | +48.3% |
| Contracts Receivable, Claims and Uncertain Amounts, Expected to be Collected after Next Twelve Months | $8900万2025-12-31 | $5100万 | +74.5% | $8900万 | $5100万 | +74.5% |
| Contracts Receivable, Claims and Uncertain Amounts, Expected to be Collected in Next Twelve Months | – | – | – | $900万2024-12-31 | $600万 | +50.0% |
| Cost of Revenue | $220亿 | $256亿 | -14.1% | $852亿 | $685亿 | +24.3% |
| Current Federal Tax Expense (Benefit) | – | – | – | $200万 | -$2.77亿 | +100.7% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $2.87亿 | $1.84亿 | +56.0% |
| Current Income Tax Expense (Benefit) | – | – | – | $2.98亿 | -$7900万 | +477.2% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $900万 | $1400万 | -35.7% |
| Debt and Lease Obligation | $541亿2025-12-31 | $539亿 | +0.4% | $541亿 | $539亿 | +0.4% |
| Debt Instrument, Fair Value Disclosure | $426亿 | $533亿 | -20.1% | $538亿 | $511亿 | +5.2% |
| Debt Securities, Available-for-sale | $5.3亿 | $5.29亿 | +0.2% | – | – | – |
| Debt Securities, Available-for-sale, Amortized Cost | $5.24亿2025-12-31 | $5.17亿 | +1.4% | $5.24亿 | $5.17亿 | +1.4% |
| Debt, Current | $45.7亿 | $87.4亿 | -47.7% | $84.6亿 | $12.8亿 | +562.1% |
| Deferred Compensation Arrangement with Individual, Compensation Expense | – | – | – | $1.82亿 | $1.14亿 | +59.6% |
| Deferred Compensation Liability, Current and Noncurrent | $16.9亿2025-12-31 | $16.8亿 | +0.6% | $16.9亿 | $16.8亿 | +0.6% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $4000万 | -$7100万 | +156.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$2500万 | $300万 | -933.3% |
| Deferred Income Tax Assets, Net | $1.93亿 | $4400万 | +338.6% | $1.07亿 | $1.85亿 | -42.2% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $9900万 | -$3.02亿 | +132.8% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01