Is Boeing financially healthy?

Boeing Co has the Financial Strength Rank of 4. GuruFocus Financial Strength Rank measures how strong a company's financial situation is.



In early 2026, Boeing is in a complex "turnaround" phase. While the company's stock reached a two-year high of approximately $248 in January 2026, reflecting investor optimism, its financial health remains burdened by high leverage. Boeing carries a debt-to-EBITDA ratio of over 3x, which is significantly higher than its rival Airbus. However, there are strong signs of recovery: the company has a massive order backlog of over $636 billion and targets a free cash flow of $9–$10 billion annually by 2027. Production for the 737 MAX is ramping up toward 47 aircraft per month, and the 787 Dreamliner is targeting 10 per month. While 2026 is projected to be its first sustainably positive year for free cash flow since the MAX crisis, the company still faces challenges with 777X delays and high production costs.

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The company generated $2.6 billion of free cash flow in the second quarter, ahead of analyst forecasts, and reiterated its full-year guidance of between $3 billion and $5 billion of free cash flow. Boeing shares surged nearly 9% to end the day at $232.80, the stock's highest closing price since November 2021.

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Boeing gross profit for the twelve months ending June 30, 2023 was $4.911B, a 190.08% increase year-over-year. Boeing annual gross profit for 2022 was $3.53B, a 15.78% increase from 2021. Boeing annual gross profit for 2021 was $3.049B, a 154.04% decline from 2020.

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The company blamed the unexpected loss on “abnormal production costs” as it tried both to deliver the remaining backlog of 737 Max jets and to step up deliveries of the 787 Dreamliners. The company's production of the 787 remains below normal rates.

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Boeing deliveries of new jets dip as the company and a key supplier struggle with production flaws. ARLINGTON, Va. (AP) — Boeing deliveries of new airline jets slumped in the third quarter as the company struggled with production problems that are cutting into its ability to generate cash.

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Boeing management continues to state that the company is in turn around mode, but we'd say that the arc of recovery remains extremely elongated, said Stallard, adding the company was lurching from one problem to the next in whack-a-mole fashion.

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Boeing produces commercial and military aircraft, weapons systems, strategic defense and intelligence systems, and related products and services. The Defense, Space and Security unit has overtaken Commercial Airplanes as Boeing's largest revenue source.

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The credit-rating agency estimated that Boeing's operating profit margin is $12 million to $15 million on each 737 Max 8 it delivers to customers.

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