BA · BOEING CO
10-Q filed 2026-04-22 period 2026-03-31
50 Caution
confidence high · source filing on SEC.gov ↗
- Completed the acquisition of Spirit AeroSystems on December 8, 2025, for total consideration of $8,389 million, with provisional goodwill of $10,360 million assigned to Commercial Airplanes.
- Total backlog increased to $694,709 million from $682,207 million, driven by new commercial airplane orders exceeding deliveries.
- Operating cash usage improved significantly to negative $179 million from negative $1,616 million in the prior year period, though free cash flow remains negative due to $1,275 million in capital expenditures.
Filing Health Score pillars
Profitability 25%
56
Revenue grew 14% to $22,217 million, but GAAP operating margin declined from 2.4% to 2.0% due to higher cost of sales and R&D spending (MD&A - Consolidated Results of Operations).
Balance sheet 20%
45
Total debt decreased to $47.2 billion, but cash and short-term investments fell to $20.9 billion, and interest coverage remains weak at 0.73x (MD&A - Liquidity and Capital Resources).
Cash generation 20%
40
Operating cash flow improved to negative $179 million, but free cash flow remains deeply negative at negative $1,454 million due to elevated capital expenditures of $1,275 million (MD&A - Liquidity and Capital Resources).
Risk flags 20%
50
Risks include ongoing supply chain constraints, labor union contract expirations in October 2026, and potential reach-forward losses on fixed-price development programs (MD&A - Supply Chain / Human Capital).
Mgmt signal 15%
60
Management plans to increase 737 production to 47/month and expects certification of the 737-7/10 in 2026, supported by a growing backlog of $694.7 billion (MD&A - Backlog / 737 Program).
Key metrics (Three months ended March 31, 2026)
revenue: $22,217 million
cash and equivalents: $9,441 million
total debt: $47,209 million
shares outstanding: 788.0 million
net income: ($4) million
period: Three months ended March 31, 2026
operating cash flow: ($179) million
Gemma triage notes (pre-analysis, second opinion)
None for this filing.Automated research summaries derived from SEC filings. Not investment advice.