BA.US

BOEING CO

United StatesCyclicalsAircraftNYSE

175.4

USD · Close 2 Nov 2026

Intrinsic value vs last close

Model estimate

Comparison requires review

−96.7%Intrinsic value vs last close

Last close (USD): 175.40
Intrinsic value (USD): 5.78

Intrinsic value = sector model's value (no adjustment)

Earnings-capitalised value

24.78−85.9%vs last close

Cost of equity 13.1% · price volatility 34.9%

Last year's earnings per share, capitalised at a cost of equity that rises with this share's own price swings, growing at the sector's long-run rate.

This is a different figure from the intrinsic value above. The intrinsic value is what the sector model says the business is worth. On Vietnamese stocks this figure has ranked future returns best in our track record; this market has no track record here yet.

Why it needs review

Under financial distress the model falls back to book value.

This estimate remains visible for checking its calculation. Its inputs require review before using it in a stock comparison. The model comparison behind this value needs review. The estimate does not remove the data limitations listed above.

Comparison assessed 3 Nov 2026Valid through 2 Dec 2026

Model reliability: Very Low; Model fitInput stabilityRisk checks; High requires the model’s diagnostic criteria to be met.
Probability of outperforming peers: Not assessed; A separate peer-outperformance probability is unavailable for this valuation.

Assessed 2 Nov 2026Not updated with daily prices

These assessments address different questions. Neither establishes that the displayed valuation is correct or guarantees a future return.

Published filingsValued 2 Nov 2026Anchored to close on 2 Nov 2026The gap is recalculated when the close changes; the value updates weekly.

Valuation Breakdown

Aircraft→Cyclical

Classified as cyclical from the industry its market data reports: “Aircraft”.

ModelEV/EBITDA Mid-Cycle

Equity Value = Mid-Cycle EBITDA x Fair EV/EBITDA - Net Debt

Cyclical companies (chemicals, oil & gas, basic resources) have earnings that swing dramatically with commodity prices and economic cycles. Valuing them on a single year's earnings is misleading: they look cheap at peaks and expensive at troughs. This model uses 7-year median EBITDA ("mid-cycle" earnings) and a 7-year median EV/EBITDA multiple to estimate what the firm is worth at a normal point in the cycle.

Technical details

Why this model

Commodity/basic-material earnings swing with global prices. Using mid-cycle EBITDA normalizes across booms and busts, preventing overpayment at cyclical peaks. EV/EBITDA is preferred over P/E because it's capital-structure-neutral and not distorted by depreciation policies.

How it works

Computes the 7-year median EBITDA and the 7-year median EV/EBITDA. With fewer than 5 years of its own EBITDA, the company's EBITDA is estimated as revenue x the sector median margin. When mid-cycle EBITDA is not positive, the value is 70% of book value per share. Fair Value = (Mid-Cycle EBITDA x Fair EV/EBITDA) - Net Debt.

Best for

Commodity producers, basic materials, chemicals, and oil & gas companies with multi-year earnings cycles.

Model Inputs

Mid-Cycle EBITDA→−758.00M

Years of data→7

Valuation

We compare the sector model's value with the last close. This market has no track record here yet, so the value is shown as the model gives it.

Last close (USD)→175.40

Intrinsic value vs last close→−96.7%

Intrinsic value = sector model's value (no adjustment)

Intrinsic value (USD)

5.78

What feeds each step— click a source to highlight it in the statements

Mid-cycle EBITDA−758.0Myears of data: 7

Feeds valuation:Model inputsFinal calculation

Line item	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Cash and cash equivalentsNet debt bridge	·	10,921	13,801	12,691	14,614	8,052	7,752	9,485	7,637	8,813	8,801	11,302	11,733	9,088	10,341	10,049	5,359	9,215	3,268	7,042	6,118
Short-term investmentsNet debt bridge	·	18,479	12,481	3,274	2,606	8,192	17,838	545	927	1,179	1,228	750	1,359	6,170	3,217	1,223	5,158	2,008	11	·	·
Fixed assets	·	15,361	11,412	10,661	10,550	10,918	11,820	12,502	12,645	12,672	12,807	12,076	11,007	10,224	9,660	9,313	8,931	8,784	8,762	·	·
TOTAL ASSETS	·	168,235	156,363	137,012	137,100	138,552	152,136	133,625	117,359	92,333	89,997	94,408	99,198	92,663	88,896	79,986	68,565	62,053	53,779	·	·
Short-term borrowingsNet debt bridge	·	8,461	1,278	5,204	5,190	1,296	1,693	7,340	3,190	1,335	384	1,234	929	1,563	1,436	2,353	948	707	560	·	·
Long-term borrowingsNet debt bridge	·	45,637	52,586	47,103	51,811	56,806	61,890	19,962	10,657	9,782	9,568	8,730	8,141	8,072	8,973	10,018	11,473	12,217	6,952	·	·
OWNER'S EQUITY	·	5,457	−3,914	−17,228	−15,848	−14,846	−18,075	−8,462	410	412	877	6,397	8,790	14,997	5,967	3,608	2,862	2,225	−1,142	9,078	4,792
MINORITY INTERESTSNet debt bridge	·	3	−6	5	35	153	241	317	71	57	60	62	125	122	100	93	96	97	152	·	·

Earnings Quality

Fiscal year 2025

Fair

Accrual QualityLow accruals vs reported earnings

Cash ConversionOperating cash flow vs net income

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

Quantitative Scores

F-Score

6/9

Neutral

Sharpe

−0.51

Negative

Composite

Below 30

Piotroski F-Score Breakdown

✓Net Income > 0

✓Operating CF > 0

✓ROA Rising

✗OCF > Net Income

✓Lower Leverage

✗Better Liquidity

✓No Dilution

✗Margin Up

✓Turnover Up

Price Risk

Momentum

−3.3%

Volatility

37.3%

Max Drawdown

−33.7%

Key Ratios

Fiscal year 2025

73.96P/E

P/B: 25.64
P/S: 1.56
ROE: 41.0%
EPS: 2.49
BVPS: 7.18
Net Margin: 2.5%
D/E: 9.91
Rev Growth: +34.5%
EV/EBITDA: 26.41
Div Yield: —

Company Overview

Shares outstanding: 792M
Industry: Aircraft

Computed 02/11/2026