The Boeing Company
$205.04B- Market cap
- $161.87B
- Debt
- +$54.10B
- Cash
- −$10.92B
Capital structure 75% equity / 25% debt · EV / Revenue 2.29x · EV proxy / EBITDA proxy 32.89x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · Mkt capMarket cap $161.87B · View financials
Snapshot Sep 10, 2026, 4:00 PM ET
Decision snapshot: BA stock price at premium vs NOC $204.80 current versus $44.26 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at NOC's multiple
Implied fair value · at BA's multiple
Snapshot Sep 10, 2026, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Reported gross margin
Operating income + D&A
Multiple premium
Higher P/E
Lower leverage
Statements
Annual statements in reported currencies, with calculations and source evidence.
Values retain reported currencies and share bases. Select a figure to inspect its period, calculation and filing inputs. Differences require compatible units and periods.
Explore enterprise value and market valuation multiples in the valuation sections.
Trendline
Eight period-end years of reported revenue, earnings, and margins. Periods and currencies are shown with the data.
Price framework
USD market cap plus reported borrowing debt, less cash and equivalents. This EV proxy excludes investments, preferred stock and noncontrolling-interest adjustments.
Capital structure 75% equity / 25% debt · EV / Revenue 2.29x · EV proxy / EBITDA proxy 32.89x
Capital structure 82% equity / 18% debt · EV / Revenue 2.03x · EV proxy / EBITDA proxy 14.21x
BA carries the larger enterprise value at $205.04B against $85.02B; NOC trades on the lower EV / Revenue multiple (2.03x vs 2.29x); NOC on the lower EV / EBITDA (14.21x vs 32.89x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
THE BOEING COMPANY · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
NORTHROP GRUMMAN CORP /DE/ · implied price per share
Bear
$151.40
Base
$196.52
Bull
$257.41
Balance sheet health
Inspect reported liquidity and leverage alongside historical financial-health checks.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
Cash excludes investments. EBITDA is an operating-income-plus-D&A proxy. Missing borrowing categories remain unavailable; select a value to inspect its inputs.
LLM-powered synthesis
An explanation of the financial evidence. Check its snapshot date against the figures above.
This explanation uses an earlier data snapshot or evidence version. Review its generation date and the current figures, or refresh after signing in.
If you believe BA can sustain very high earnings normalization without further balance-sheet stress, then consider holding; otherwise, the data support favoring NOC or reducing BA exposure because BA trades at much richer earnings multiples despite weaker margins and far higher leverage.
BA trades at a steep premium on earnings-based measures relative to NOC, which explains the large implied downside. The gap is far less pronounced on sales multiples, but the valuation still looks stretched given BA’s weaker profitability and balance sheet.
Supporting Metrics