Selected Financial Data
since 2005
Income Statement
Boeing Co., selected items from income statement, long-term trends
US$ in millions
| 12 months ended: | Revenues | Earnings (loss) from operations | Net earnings (loss) attributable to Boeing shareholders |
|---|---|---|---|
| Dec 31, 2025 | 89,463) | 4,281) | 2,235) |
| Dec 31, 2024 | 66,517) | (10,707) | (11,817) |
| Dec 31, 2023 | 77,794) | (773) | (2,222) |
| Dec 31, 2022 | 66,608) | (3,547) | (4,935) |
| Dec 31, 2021 | 62,286) | (2,902) | (4,202) |
| Dec 31, 2020 | 58,158) | (12,767) | (11,873) |
| Dec 31, 2019 | 76,559) | (1,975) | (636) |
| Dec 31, 2018 | 101,127) | 11,987) | 10,460) |
| Dec 31, 2017 | 93,392) | 10,278) | 8,197) |
| Dec 31, 2016 | 94,571) | 5,834) | 4,895) |
| Dec 31, 2015 | 96,114) | 7,443) | 5,176) |
| Dec 31, 2014 | 90,762) | 7,473) | 5,446) |
| Dec 31, 2013 | 86,623) | 6,562) | 4,585) |
| Dec 31, 2012 | 81,698) | 6,311) | 3,900) |
| Dec 31, 2011 | 68,735) | 5,844) | 4,018) |
| Dec 31, 2010 | 64,306) | 4,971) | 3,307) |
| Dec 31, 2009 | 68,281) | 2,096) | 1,312) |
| Dec 31, 2008 | 60,909) | 3,950) | 2,672) |
| Dec 31, 2007 | 66,387) | 5,830) | 4,074) |
| Dec 31, 2006 | 61,530) | 3,014) | 2,215) |
| Dec 31, 2005 | 54,845) | 2,812) | 2,572) |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Revenues exhibited a generally increasing trend from 2005 to 2019, although with some fluctuations. Starting at US$54.845 billion in 2005, revenues peaked at US$101.127 billion in 2018 before experiencing a significant decline in 2019 to US$76.559 billion. This decline continued into 2020, reaching US$58.158 billion, likely influenced by external factors. A modest recovery was observed in 2021 and 2022, reaching US$77.794 billion, followed by a substantial increase to US$89.463 billion in 2023, and a slight decrease to US$66.517 billion in 2024. Finally, revenues increased to US$89.463 billion in 2025.
- Operational Performance
- Earnings from operations demonstrated considerable volatility throughout the period. From 2005 to 2007, operational earnings increased from US$2.812 billion to US$5.830 billion. A subsequent decrease occurred in 2008, followed by further declines in 2009. Operational earnings recovered between 2010 and 2017, peaking at US$10.278 billion. However, 2018 and 2019 saw a dramatic shift, with a loss of US$1.975 billion in 2019. This negative trend continued through 2020, with a substantial loss of US$12.767 billion, before beginning a slow recovery in 2021 and 2022. A loss was recorded in 2024, but a positive value of US$4.281 billion was reported in 2025.
- Net Earnings Trend
- Net earnings attributable to Boeing shareholders mirrored the trends observed in operational earnings, though generally at a lower magnitude. Positive net earnings were consistently reported from 2005 to 2019, peaking at US$10.460 billion in 2018. A net loss of US$636 million was recorded in 2019, which escalated into significant losses in 2020 (US$11.873 billion) and 2021 (US$4.202 billion). Losses continued in 2022 and 2024, with a substantial loss of US$11.817 billion in 2024. A return to profitability was observed in 2025, with net earnings of US$2.235 billion.
The period between 2005 and 2017 generally indicated growth in both revenues and profitability. However, the years following 2017 were characterized by significant challenges, evidenced by substantial declines in both revenues and earnings. While a recovery appears to be underway in the most recent years, the performance remains below the levels achieved during the peak years of the earlier period.
Balance Sheet: Assets
Boeing Co., selected items from assets, long-term trends
US$ in millions
| Current assets | Total assets | |
|---|---|---|
| Dec 31, 2025 | 128,459) | 168,235) |
| Dec 31, 2024 | 127,998) | 156,363) |
| Dec 31, 2023 | 109,275) | 137,012) |
| Dec 31, 2022 | 109,523) | 137,100) |
| Dec 31, 2021 | 108,666) | 138,552) |
| Dec 31, 2020 | 121,642) | 152,136) |
| Dec 31, 2019 | 102,229) | 133,625) |
| Dec 31, 2018 | 87,830) | 117,359) |
| Dec 31, 2017 | 65,161) | 92,333) |
| Dec 31, 2016 | 62,488) | 89,997) |
| Dec 31, 2015 | 68,234) | 94,408) |
| Dec 31, 2014 | 67,785) | 99,198) |
| Dec 31, 2013 | 65,074) | 92,663) |
| Dec 31, 2012 | 57,309) | 88,896) |
| Dec 31, 2011 | 49,810) | 79,986) |
| Dec 31, 2010 | 40,572) | 68,565) |
| Dec 31, 2009 | 35,275) | 62,053) |
| Dec 31, 2008 | 25,964) | 53,779) |
| Dec 31, 2007 | 27,280) | 58,986) |
| Dec 31, 2006 | 22,983) | 51,794) |
| Dec 31, 2005 | 21,968) | 60,058) |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Over the period from 2005 to 2025, both current assets and total assets exhibited considerable fluctuation and overall growth. A detailed examination reveals distinct phases of expansion, contraction, and stabilization in the company’s asset base.
- Current Assets Trend
- Current assets demonstrated an initial increase from $21.968 billion in 2005 to $27.280 billion in 2007. A subsequent decline was observed in 2008, falling to $25.964 billion, before a substantial rise to $35.275 billion in 2009. Continued growth occurred through 2012, reaching $57.309 billion. Following this peak, current assets experienced a moderate decrease to $62.488 billion in 2016. A significant surge then took place, increasing to $102.229 billion in 2019. A decrease was noted in 2020 and 2021, settling at $108.666 billion and $109.523 billion respectively. Current assets then increased again, reaching $127.998 billion in 2022 and $128.459 billion in 2025.
- Total Assets Trend
- Total assets began at $60.058 billion in 2005, then decreased significantly to $51.794 billion in 2006. A recovery was seen in 2007, reaching $58.986 billion, followed by another decline to $53.779 billion in 2008. Total assets increased to $62.053 billion in 2009 and continued to grow, reaching $79.986 billion in 2011 and $88.896 billion in 2012. A slight increase was observed in 2013, followed by a decrease in 2015 to $94.408 billion. A substantial increase occurred between 2015 and 2019, with total assets reaching $133.625 billion. A decrease was observed in 2020 and 2021, falling to $138.552 billion and $137.100 billion respectively. Total assets then increased again, reaching $156.363 billion in 2022 and $168.235 billion in 2025.
- Relationship Between Current and Total Assets
- Throughout the period, current assets consistently represented a substantial portion of total assets. The proportion fluctuated, but generally remained between approximately 35% and 50% of the total asset base. The most significant increases in current assets often corresponded with increases in total assets, suggesting a strong correlation between the two. The period from 2018 to 2025 saw a particularly pronounced growth in both categories.
- Overall Observations
- The asset base experienced considerable volatility, particularly in the earlier years of the period. The period from 2012 to 2015 showed a period of more moderate growth. The latter part of the period, from 2018 onwards, was characterized by substantial asset accumulation, indicating potential investment in growth initiatives or acquisitions. The decreases observed in 2020 and 2021 may reflect divestitures, asset write-downs, or changes in working capital management.
Balance Sheet: Liabilities and Stockholders’ Equity
Boeing Co., selected items from liabilities and stockholders’ equity, long-term trends
US$ in millions
| Current liabilities | Total liabilities | Total debt | Shareholders’ equity (deficit) | |
|---|---|---|---|---|
| Dec 31, 2025 | 108,115) | 162,778) | 54,098) | 5,454) |
| Dec 31, 2024 | 97,078) | 160,277) | 53,864) | (3,908) |
| Dec 31, 2023 | 95,827) | 154,240) | 52,307) | (17,233) |
| Dec 31, 2022 | 90,052) | 152,948) | 57,001) | (15,883) |
| Dec 31, 2021 | 81,992) | 153,398) | 58,102) | (14,999) |
| Dec 31, 2020 | 87,280) | 170,211) | 63,583) | (18,316) |
| Dec 31, 2019 | 97,312) | 141,925) | 27,302) | (8,617) |
| Dec 31, 2018 | 81,590) | —) | 13,847) | 339) |
| Dec 31, 2017 | 56,269) | —) | 11,117) | 355) |
| Dec 31, 2016 | 50,134) | —) | 9,952) | 817) |
| Dec 31, 2015 | 50,412) | —) | 9,964) | 6,335) |
| Dec 31, 2014 | 56,717) | —) | 9,070) | 8,665) |
| Dec 31, 2013 | 51,486) | —) | 9,635) | 14,875) |
| Dec 31, 2012 | 44,982) | —) | 10,409) | 5,867) |
| Dec 31, 2011 | 41,274) | —) | 12,371) | 3,515) |
| Dec 31, 2010 | 35,395) | —) | 12,421) | 2,766) |
| Dec 31, 2009 | 32,883) | —) | 12,924) | 2,128) |
| Dec 31, 2008 | 30,773) | —) | 7,512) | (1,294) |
| Dec 31, 2007 | 31,538) | —) | 8,217) | 9,004) |
| Dec 31, 2006 | 29,701) | —) | 9,538) | 4,739) |
| Dec 31, 2005 | 28,188) | —) | 10,727) | 11,059) |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
The liabilities and stockholders’ equity of the company exhibit significant fluctuations over the analyzed period. Current liabilities generally increased from 2005 to 2025, with notable accelerations in 2018 and 2023. Total liabilities show a more fragmented pattern, with values first appearing in 2015 and demonstrating substantial growth between 2015 and 2020, followed by a decline and subsequent stabilization. Total debt experienced a decrease from 2005 to 2008, then increased until 2020, peaking at US$63.583 billion, before decreasing again in subsequent years. Shareholders’ equity experienced considerable volatility, including a deficit from 2019 through 2023, before returning to a positive value in 2024 and increasing in 2025.
- Current Liabilities
- Current liabilities demonstrated a consistent upward trend from US$28.188 billion in 2005 to US$108.115 billion in 2025. The rate of increase was not constant, with periods of slower growth interspersed with more rapid expansion, particularly between 2017 and 2018, and again between 2022 and 2025. This suggests potential shifts in short-term financing strategies or operational needs.
- Total Liabilities
- Total liabilities were not reported consistently throughout the period, becoming available from 2015. From 2015 to 2020, total liabilities increased significantly, from US$141.925 billion to US$170.211 billion, then decreased to US$152.948 billion in 2020. They remained relatively stable between 2020 and 2025, fluctuating between US$152.948 billion and US$162.778 billion. This pattern indicates a period of increased leverage followed by a period of debt management or restructuring.
- Total Debt
- Total debt decreased from US$10.727 billion in 2005 to US$7.512 billion in 2008. It then increased to US$13.847 billion in 2018, before experiencing a substantial surge to US$63.583 billion in 2020. Following 2020, total debt decreased to US$54.098 billion in 2025. The significant increase in 2020 warrants further investigation to understand the underlying reasons, such as increased borrowing for investments or to address financial challenges.
- Shareholders’ Equity
- Shareholders’ equity exhibited the most dramatic fluctuations. It began at US$11.059 billion in 2005, decreased to a negative US$8.617 billion in 2019, and reached a low of negative US$18.316 billion in 2020. The equity position remained negative through 2023, reaching negative US$17.233 billion. A positive value of US$5.454 billion was reported in 2024, increasing to US$5.454 billion in 2025. The prolonged period of negative equity suggests significant accumulated losses or substantial share repurchases, and the recent return to positive equity indicates a potential turnaround or recapitalization.
The combined trends suggest a company that has navigated periods of growth, financial strain, and restructuring. The increasing current liabilities coupled with fluctuating total debt and the period of negative shareholders’ equity require careful consideration and further analysis of the company’s cash flow and profitability.
Cash Flow Statement
Boeing Co., selected items from cash flow statement, long-term trends
US$ in millions
| 12 months ended: | Net cash provided (used) by operating activities | Net cash (used) provided by investing activities | Net cash provided (used) by financing activities |
|---|---|---|---|
| Dec 31, 2025 | 1,065) | 499) | (3,763) |
| Dec 31, 2024 | (12,080) | (11,973) | 25,209) |
| Dec 31, 2023 | 5,960) | (2,437) | (5,487) |
| Dec 31, 2022 | 3,512) | 4,370) | (1,266) |
| Dec 31, 2021 | (3,416) | 9,324) | (5,600) |
| Dec 31, 2020 | (18,410) | (18,366) | 34,955) |
| Dec 31, 2019 | (2,446) | (1,530) | 5,739) |
| Dec 31, 2018 | 15,322) | (4,621) | (11,722) |
| Dec 31, 2017 | 13,344) | (2,062) | (11,350) |
| Dec 31, 2016 | 10,499) | (3,380) | (9,587) |
| Dec 31, 2015 | 9,363) | (1,846) | (7,920) |
| Dec 31, 2014 | 8,858) | 2,467) | (8,593) |
| Dec 31, 2013 | 8,179) | (5,154) | (4,249) |
| Dec 31, 2012 | 7,508) | (3,757) | (3,477) |
| Dec 31, 2011 | 4,023) | 2,369) | (1,700) |
| Dec 31, 2010 | 2,952) | (4,831) | (1,962) |
| Dec 31, 2009 | 5,603) | (3,794) | 4,094) |
| Dec 31, 2008 | (401) | 1,888) | (5,202) |
| Dec 31, 2007 | 9,584) | (3,822) | (4,884) |
| Dec 31, 2006 | 7,499) | (3,186) | (3,645) |
| Dec 31, 2005 | 7,000) | (98) | (4,657) |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
The cash flow statement reveals significant fluctuations across the observed period. Overall, operating activities demonstrate the most consistent positive cash flow, though with substantial variability. Investing and financing activities exhibit more pronounced swings between cash inflows and outflows.
- Operating Activities
- From 2005 to 2007, net cash provided by operating activities increased steadily, peaking at US$9.584 billion in 2007. A dramatic shift occurred in 2008, resulting in a net cash outflow of US$401 million. Following this, cash flow from operations recovered, generally increasing from 2009 to 2017, reaching a high of US$15.322 billion in 2018. A substantial outflow of US$2.446 billion was recorded in 2019, followed by a significant outflow of US$18.410 billion in 2020. Cash flow from operations partially recovered in 2021 and 2022, before experiencing another large outflow of US$12.080 billion in 2023, and a smaller outflow in 2024. A positive cash flow of US$1.065 billion was observed in 2025.
- Investing Activities
- Net cash used in investing activities was consistently negative for most of the period, indicating ongoing investments. Outflows were particularly large in 2006 and 2007. A notable inflow occurred in 2008, followed by continued outflows through 2018. 2020 saw a very large outflow of US$18.366 billion. A significant inflow of US$9.324 billion was recorded in 2021, followed by a smaller inflow in 2022. 2023 and 2024 both showed substantial cash outflows from investing activities, with a smaller inflow in 2025.
- Financing Activities
- Financing activities exhibited considerable volatility. From 2005 to 2008, net cash used in financing activities was consistently negative, suggesting debt repayment or shareholder returns. A positive cash flow was observed in 2009, followed by negative flows through 2018. 2020 showed a large positive cash flow of US$34.955 billion, likely due to significant debt issuance or equity raises. Negative cash flows were observed in 2021, 2022, and 2023, with a positive cash flow of US$25.209 billion in 2024, and a negative cash flow in 2025.
The period between 2019 and 2021 was particularly turbulent, with substantial negative cash flows from both operating and investing activities in 2020, offset by a large positive cash flow from financing activities. This suggests a reliance on external funding during that period. The fluctuations in all three categories indicate a dynamic financial situation, potentially influenced by large capital expenditures, acquisitions, debt management, and external economic factors.
Per Share Data
Boeing Co., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Dec 31, 2025 | 2.49 | 2.48 | 0.00 |
| Dec 31, 2024 | -18.36 | -18.36 | 0.00 |
| Dec 31, 2023 | -3.67 | -3.67 | 0.00 |
| Dec 31, 2022 | -8.30 | -8.30 | 0.00 |
| Dec 31, 2021 | -7.15 | -7.15 | 0.00 |
| Dec 31, 2020 | -20.88 | -20.88 | 0.00 |
| Dec 31, 2019 | -1.12 | -1.12 | 8.22 |
| Dec 31, 2018 | 18.05 | 17.85 | 7.19 |
| Dec 31, 2017 | 13.60 | 13.43 | 5.97 |
| Dec 31, 2016 | 7.70 | 7.61 | 4.69 |
| Dec 31, 2015 | 7.52 | 7.44 | 3.82 |
| Dec 31, 2014 | 7.47 | 7.38 | 3.10 |
| Dec 31, 2013 | 6.03 | 5.96 | 2.19 |
| Dec 31, 2012 | 5.15 | 5.11 | 1.81 |
| Dec 31, 2011 | 5.39 | 5.34 | 1.70 |
| Dec 31, 2010 | 4.49 | 4.45 | 1.68 |
| Dec 31, 2009 | 1.86 | 1.84 | 1.68 |
| Dec 31, 2008 | 3.70 | 3.67 | 1.62 |
| Dec 31, 2007 | 5.38 | 5.28 | 1.45 |
| Dec 31, 2006 | 2.89 | 2.85 | 1.25 |
| Dec 31, 2005 | 3.27 | 3.20 | 1.05 |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1, 2, 3 Data adjusted for splits and stock dividends.
The per share earnings figures demonstrate significant volatility over the observed period. From 2005 to 2008, basic earnings per share (EPS) fluctuated, initially decreasing from $3.27 to $2.89, then increasing substantially to $5.38 before declining to $3.70. Following the 2008 financial crisis, EPS decreased sharply to $1.86 in 2009, but subsequently recovered, exhibiting a generally upward trend through 2018, peaking at $18.05. A dramatic reversal occurred in 2019, with EPS falling to -$1.12, followed by substantial losses in 2020 and 2021, reaching -$20.88 and -$7.15 respectively. A modest recovery began in 2022 and continued into 2023 and 2024, culminating in a positive EPS of $2.49 in 2025.
- Earnings Per Share (EPS)
- Basic and diluted EPS followed a similar pattern throughout the period. The difference between basic and diluted EPS remained consistently small, generally within a few cents, indicating minimal impact from dilutive securities. The period from 2016 to 2018 showed particularly strong EPS growth, followed by a period of significant losses. The recent years (2022-2025) suggest a potential stabilization, though at levels considerably lower than the peak in 2018.
Dividend per share exhibited a consistent upward trend from 2005 to 2019, increasing from $1.05 to $8.22. This demonstrates a commitment to returning value to shareholders during a period of generally increasing profitability. However, dividend information is unavailable for the years 2020 through 2025, coinciding with the period of substantial losses in EPS. The absence of dividend payments during this period is consistent with the company’s negative earnings.
- Dividend Trend
- The sustained increase in dividends from 2005 to 2019 suggests a strong financial position and confidence in future earnings. The subsequent lack of dividend information, coupled with negative EPS, indicates a period of financial distress and a likely suspension of dividend payments. The correlation between EPS and dividend payments is strong, as expected.
Overall, the per share financial performance reveals a company that experienced substantial growth and profitability for a significant period, followed by a period of considerable challenges and losses. The recent positive EPS in 2025 may indicate the beginning of a recovery, but further observation is needed to confirm a sustained upward trend.