The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments. The Commercial Airplanes segment develops, produces, and markets commercial jet aircraft for passenger and cargo requirements, as well as provides fleet support services. The Defense, Space & Security segment engages in the research, development, production, and modification of manned and unmanned military aircraft and weapons systems; strategic defense and intelligence systems, which include strategic missile and defense systems, command, control, communications, computers, intelligence, surveillance and reconnaissance, cyber and information solutions, and intelligence systems; and satellite systems, such as government and commercial satellites, and space exploration. The Global Services segment offers products and services, including supply chain and logistics management, engineering, maintenance and modifications, upgrades and conversions, spare parts, pilot and maintenance training systems and services, technical and maintenance documents, and data analytics and digital services to commercial and defense customers. The Boeing Company was incorporated in 1916 and is based in Arlington, Virginia.

Boeing выглядит как компания с заметным восстановлением выручки и прибыли, но с очень тяжёлой структурой баланса и всё ещё слабым качеством маржинальности. Выручка выросла до 23.95 млрд, а чистая прибыль TTM стала положительной и достигла 8.13 млрд, что само по себе поддерживает оценку и показывает выход из глубокой просадки. При этом операционная рентабельность 4.63% и чистая маржа 2.11% остаются низкими для промышленного лидера и существенно уступают отраслевым ориентирам, поэтому качество заработка пока не выглядит устойчивым. P/E 111.18 и P/S 1.93 выше медианы отрасли, что означает, что рынок уже закладывает заметное улучшение, хотя текущая прибыльность ещё не подтверждает такую премию полностью. P/FCF и P/B фактически не дают нормального сигнала из-за нулевых/аномальных значений, что дополнительно указывает на нестабильность денежного потока и капитальной базы. Долговая нагрузка остаётся ключевым риском: debt/equity 7.41 очень высок, долгосрочный долг 44.61 млрд велик, а собственный капитал отрицательный, что ограничивает финансовую гибкость. Ликвидность тоже слабая: quick ratio 0.35 и current ratio 1.18 ниже комфортного уровня, поэтому запас прочности на случай новых операционных сбоев невелик. ROA 1.21% и ROI 4.29% остаются скромными, а ROE неинформативен из-за отрицательного капитала, что говорит о том, что эффективность активов и капитала пока далека от нормализации. Сильной стороной остаётся рост gross profit и operating income, а также высокий return on tangible equity, что подтверждает способность бизнеса генерировать прибыль на материальной базе. Однако gross margin 4.79% и operating margin 4.63% всё ещё выглядят слабо для оценки премиального качества, особенно на фоне высокой цикличности и рисков исполнения в аэрокосмическом сегменте. Дивидендная доходность равна нулю, поэтому акционер не получает компенсации за повышенный риск через текущие выплаты. В совокупности фундаментал улучшился по сравнению с кризисным периодом, но баланс, ликвидность и мультипликаторы всё ещё требуют осторожной оценки. Для инвестора это скорее история восстановления, чем уже завершённой нормализации, поэтому целесообразна умеренная консервативная корректировка прогноза вниз.

Boeing Company (The)

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Слабый индекс, незначительно упал. Уверенность медведей остается на низком уровне.

Weak index, slightly down. Bearish confidence remains low.

Слабый индекс, незначительно вырос. Рынок на стороне быков.

Weak index, slightly up. The market is on the bulls' side.

Средний индекс, без изменений. Рынок не поддерживает медведей.

Medium index, flat. The market does not support the bears.

Средний индекс, значительно упал. Отток средств из лонгов увеличился и находится на высоком уровне.

Medium index, significantly down. The outflow of funds from longs has increased and is at a high level.

Слабый индекс, незначительно вырос. Приток средств в шорты остается положительным.

Weak index, slightly up. The inflow of funds into shorts remains positive.

Выручка и прибыль Boeing восстановились, но высокая долговая нагрузка, слабая ликвидность и дорогие мультипликаторы пока ограничивают потенциал переоценки.

Key Points
Joby and Archer both lost their luster over the past year.
But both stocks could blast off once the FAA approves their first commercial flights.
Joby Aviation (NYSE: JOBY) and Archer Aviation (NYSE: ACHR) are both early movers in the electric vertical takeoff and landing (eVTOL) aircraft market. These aircraft are greener and easier to land in crowded urban areas than helicopters, but the Federal Aviation Administration (FAA) hasn't fully approved their first commercial flights.
Joby and Archer both went public through mergers with special purpose acquisition companies (SPACs) in 2021, but both stocks trade below their opening prices. Without any commercial flights, Joby and Archer were speculative stocks trading at high valuations -- so their luster faded as rising interest rates drove investors toward more conservative investments.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
But according to Eve Air Mobility's Global Market Outlook, there could be 30,000 eVTOLs in the air carrying three billion passengers globally by 2045. So could one of these unloved eVTOL stocks still be a great play on that secular trend?
The similarities and differences between Joby and Archer
Joby's S4 and Archer's Midnight both carry a single passenger and four passengers. The S4 can travel up to 150 miles on a single charge at a maximum speed of 200 miles per hour. The Midnight can travel up to 100 miles with a maximum speed of 150 miles per hour.
The S4 travels faster and farther than the Midnight because it uses single-tilt rotor propellers to lift and cruise. The Midnight is heavier because it uses separate propellers to lift and cruise. Joby is also developing a hydrogen-powered version of its eVTOL, but Archer isn't.
Joby and Archer are both working with the U.S. Department of Defense (DoD), and major investors and customers back both companies. Joby's backers include Toyota, Delta Air Lines, and Uber. Archer's backers include Stellantis, United Airlines, and Abu Dhabi Aviation. Both companies plan to initially launch their aircraft in the U.S. and the UAE.
Toyota and Stellantis plan to help Joby and Archer manufacture their commercial eVTOLs. Delta and United will add Joby and Archer's air taxi flights to their airline tickets as last-mile "airport to home" services. Joby will integrate its own flights directly into Uber's app, while Archer plans to launch its own first-party air taxi service rather than work with other companies.
Which company has a brighter future?
Joby and Archer both need to complete the FAA's lengthy, multi-stage approval process before launching their first commercial flights in the United States. Those full approvals probably won't happen until late 2026 or 2027. The Middle East conflicts could also disrupt or delay their first commercial flights in the UAE. That's why both stocks have been under pressure this year.
But from 2025 to 2028, analysts still expect Joby's revenue to grow from $53 million to $458 million. They also expect it to narrow its net loss from $930 million to $722 million. With a market cap of $9.2 billion, it trades at 20 times its 2028 sales. Most of its revenue comes from its acquisition of the air taxi services company Blade Urban Mobility, which closed last August.
From 2025 to 2028, analysts expect Archer's revenue to surge from less than $1 million in 2025 to $482 million in 2028. However, they expect its net loss to widen from $618 million to $868 million. With a market cap of $4.0 billion, it trades at just eight times its 2028 sales.
Joby trades at a premium to Archer because it's expanding into a vertically integrated "transportation as a service" business that manufactures, owns, and operates its own air taxi network. Archer is still primarily an original equipment manufacturer (OEM), heavily dependent on middlemen, as it sells most of its aircraft to third-party fleets. Joby also has more liquidity than Archer, and its supply chain is much tighter because it uses more first-party components.
The better buy: Joby Aviation
Archer might initially seem like a better value, but Joby's advantages make it a better long-term investment. While Archer might be aiming to become the next Boeing of the eVTOL market, Joby wants to become the next Tesla -- a more focused company that takes over the market with its first-party aircraft and air taxi services.
Should you buy stock in Joby Aviation right now?
Before you buy stock in Joby Aviation, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Joby Aviation wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $438,283!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,257,427!*
Now, it’s worth noting Stock Advisor’s total average return is 938% — a market-crushing outperformance compared to 206% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Boeing, Tesla, and Uber Technologies. The Motley Fool recommends Delta Air Lines, Stellantis, and Under Armour. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

eVTOL Stock Face-Off: Is Joby Aviation or Archer Aviation the Better Buy Right Now?

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the ProShares Ultra S&P500 (Symbol: SSO) where we have detected an approximate $230.3 million dollar outflow -- that's a 2.9% decrease week over week (from 122,200,000 to 118,700,000). Among the largest underlying components of SSO, in trading today TJX Companies (Symbol: TJX) is down about 0.6%, NextEra Energy Inc (Symbol: NEE) is up about 1.2%, and Boeing Co. (Symbol: BA) is lower by about 1.6%. For a complete list of holdings, visit the SSO Holdings page » The chart below shows the one year price performance of SSO, versus its 200 day moving average:
Looking at the chart above, SSO's low point in its 52 week range is $44.985 per share, with $70.125 as the 52 week high point — that compares with a last trade of $66.17. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further SSO Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

SSO, TJX, NEE, BA: Large Outflows Detected at ETF

Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in TransDigm Group Inc (Symbol: TDG), where a total of 2,023 contracts have traded so far, representing approximately 202,300 underlying shares. That amounts to about 52.2% of TDG's average daily trading volume over the past month of 387,915 shares. Particularly high volume was seen for the $1310 strike call option expiring June 18, 2026, with 1,006 contracts trading so far today, representing approximately 100,600 underlying shares of TDG. Below is a chart showing TDG's trailing twelve month trading history, with the $1310 strike highlighted in orange:
Intel Corp (Symbol: INTC) saw options trading volume of 635,379 contracts, representing approximately 63.5 million underlying shares or approximately 50.9% of INTC's average daily trading volume over the past month, of 124.8 million shares. Particularly high volume was seen for the $120 strike call option expiring June 12, 2026, with 38,368 contracts trading so far today, representing approximately 3.8 million underlying shares of INTC. Below is a chart showing INTC's trailing twelve month trading history, with the $120 strike highlighted in orange:
And Boeing Co. (Symbol: BA) saw options trading volume of 32,037 contracts, representing approximately 3.2 million underlying shares or approximately 43.4% of BA's average daily trading volume over the past month, of 7.4 million shares. Especially high volume was seen for the $210 strike put option expiring June 18, 2026, with 1,292 contracts trading so far today, representing approximately 129,200 underlying shares of BA. Below is a chart showing BA's trailing twelve month trading history, with the $210 strike highlighted in orange:
For the various different available expirations for TDG options, INTC options, or BA options, visit StockOptionsChannel.com.
Further TDG Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Thursday Option Activity: TDG, INTC, BA

The Boeing Company’s BA Global Services ("BGS") segment is increasingly becoming an important contributor to the company's recovery and long-term growth strategy.
During the first quarter of 2026, BGS generated revenues of $5.4 billion, representing a 6% increase from the prior-year period’s level. The growth was primarily driven by higher government-related service activity and continued demand for aviation aftermarket solutions. While Boeing's commercial aircraft business remains cyclical and heavily dependent on production rates, the services segment provides a more stable source of recurring revenues.
BGS generated operating earnings of $971 million, resulting in an operating margin of 18.1%. Although margins declined modestly from the prior year due to the impact of the Digital Aviation Solutions divestiture, the segment continues to generate significantly higher margins than Boeing's commercial and defense operations. This demonstrates the attractive economics of maintenance, repair, parts distribution, training, and digital aviation services.
Several strategic developments during the quarter further strengthened the business. Boeing inked the largest-ever Landing Gear Exchange Program agreement with Singapore Airlines Group and received initial FAA and EASA qualification for 777-9 training devices. These wins highlight Boeing's ability to monetize its growing installed aircraft base through long-term support contracts and training solutions.
BGS ended the quarter with a record backlog of $33 billion, providing substantial revenue visibility and demonstrating sustained customer demand across both commercial and government markets. As airlines continue to expand fleets and defense customers seek long-term maintenance support, Boeing appears well positioned to benefit from growing aftermarket spending.
Companies Expanding Aftermarket and Services Businesses
Growing global aircraft utilization continues to increase demand for maintenance, repair, overhaul, and aviation support services. Several aerospace companies benefiting from this trend are discussed below:
Airbus SE EADSY continues to expand its services portfolio through Airbus Services, offering maintenance, training, fleet management, and digital solutions to airline customers worldwide. The company increasingly views services as a key contributor to long-term profitability.
RTX Corporation RTX maintains one of the aerospace industry's largest aftermarket businesses through its Collins Aerospace and Pratt & Whitney units. The company's growing installed base of engines and aircraft systems supports recurring revenues from maintenance, spare parts and repair services.
BA Stock’s Earnings Estimates
The Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year improvement of 98.6% and 2,813.2%, respectively.
Image Source: Zacks Investment Research
BA Stock Trades at a Discount
In terms of valuation, BA’s forward 12-month price-to-sales (P/S) is 1.6X, a discount to the industry’s average of 2.54X.
Image Source: Zacks Investment Research
BA Stock’s Price Performance
In the past three months, the company’s shares have risen 2.1% against the industry’s 8.5% decline.
Image Source: Zacks Investment Research
BA’s Zacks Rank
The company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Can Boeing's Global Services Business Become a Bigger Growth Driver?

L3Harris Technologies, Inc. LHX recently secured a U.S. Army contract worth up to $106 million to deliver its VAMPIRE counter-unmanned systems (c-UxS), reinforcing its role in addressing the growing threat posed by hostile drones. The order supports the United States’ layered c-UxS defense strategy and highlights rising demand for affordable, rapidly deployable drone defense capabilities.
LHX’s Leadership in Counter-Unmanned Systems
L3Harris has leveraged decades of expertise to develop affordable, reliable and best-in-class solutions that swiftly counter the growing global threat posed by unmanned systems. The company has launched a new Counter-Unmanned Systems initiative, using its wide-ranging capabilities to tackle unmanned threats across air, land and sea domains.
L3Harris has already developed and proven counter-unmanned systems, including VAMPIRE, CORVUS-RAVEN, Nimble Finch and Drone Guardian.
The company’s VAMPIRE is an affordable, compact Intelligence, Surveillance, and Reconnaissance and counter-unmanned weapons system engineered to deploy on nearly any platform, vehicle or vessel. This all-in-one system excels in Counter-small Unmanned Airborne System operations, providing precision strike capabilities against drones and remotely piloted aircraft with configurable sensors and weapons.
Such expertise may have attracted the interest of nations looking to incorporate L3Harris’ counter-unmanned systems into their defense arsenals.
Growth Potential
According to a report by Market Research Future, the rising use of drones across military, commercial and recreational applications is driving the need for counter-unmanned aerial systems capable of detecting, tracking and neutralizing unauthorized drones. Per the same report, the market is projected to witness a CAGR of 24.72% between 2025 and 2035.
Such growth prospects are favorable for LHX, which is a trusted developer of counter-unmanned aerial systems. Other defense companies poised to benefit from the expanding counter-unmanned aerial systems market are discussed below:
RTX Corporation RTX: The company’s Coyote counter-unmanned aircraft system is capable of neutralizing both single-drone threats and swarms, with shortened engagement timelines to address multiple targets. Its kinetic and non-kinetic variants can counter small to large unmanned aircraft systems at extended ranges and higher altitudes.
RTX boasts a long-term (three to five years) earnings growth rate of 10.2%. The Zacks Consensus Estimate for 2026 sales stands at $93.68 billion, which calls for an increase of 5.7%.
The Boeing Company BA: The company’s Compact Laser Weapon System is a modular, high-energy laser platform that delivers proven air defense capabilities against unmanned aircraft systems. Its flexible design allows transport and operation by a single warfighter and can be configured for mobile deployment on various combat vehicles, offering exceptional adaptability to maintain readiness in any environment.
The Zacks Consensus Estimate for BA’s 2026 loss is pegged at 15 cents, which suggests an improvement. The Zacks Consensus Estimate for 2026 sales is pegged at $96.70 billion, which suggests an increase of 8.1%.
BAE Systems plc BAESY: The company’s TRIDON Mk2 is a high-precision, cost-effective anti-aircraft system that is simple to deploy and maintain. It can engage threats ranging from drones and cruise missiles to aircraft and armored vehicles, providing security and protection for both military forces and civilian infrastructure.
BAESY boasts a long-term earnings growth rate of 15%. The Zacks Consensus Estimate for 2026 sales stands at $44.65 billion, which calls for an increase of 56.8%.
LHX Stock Price Movement
In the past year, shares of L3Harris have risen 21% against the industry’s decline of 0.3%.
Image Source: Zacks Investment Research
LHX’s Zacks Rank
L3Harris currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

L3Harris Secures VAMPIRE Order to Strengthen Counter-Drone Defense

In the latest trading session, Boeing (BA) closed at $209.15, marking a -2.5% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 1.62%. Meanwhile, the Dow experienced a drop of 1.87%, and the technology-dominated Nasdaq saw a decrease of 1.98%.
The airplane builder's shares have seen a decrease of 9.44% over the last month, not keeping up with the Aerospace sector's gain of 2.43% and the S&P 500's loss of 0.03%.
The investment community will be closely monitoring the performance of Boeing in its forthcoming earnings report. On that day, Boeing is projected to report earnings of -$0.23 per share, which would represent year-over-year growth of 81.45%. Our most recent consensus estimate is calling for quarterly revenue of $23.55 billion, up 3.51% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.15 per share and revenue of $96.7 billion, which would represent changes of +98.59% and +8.09%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Boeing. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Boeing is holding a Zacks Rank of #3 (Hold) right now.
The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 109, positioning it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why Boeing (BA) Dipped More Than Broader Market Today

Key Points
Boeing is navigating a recovery phase driven by its massive commercial backlog and essential defense contracts.
Firefly Aerospace is achieving rapid revenue growth as it scales its specialized launch and lunar lander capabilities.
Should you prioritize a recovering industrial titan or a high-growth space technology newcomer for your portfolio?
The aerospace market is witnessing a split between established giants regaining their footing and agile newcomers reaching for the stars. Choosing between Boeing Co. (NYSE:BA) and Firefly Aerospace depends on your appetite for legacy recovery versus speculative growth.
Boeing remains an essential pillar of global travel and national security, while Firefly focuses on the rapid deployment of small satellites and lunar missions. Comparing them involves looking at Boeing's massive manufacturing scale against Firefly's rapid revenue expansion from a much smaller financial base.
The case for Boeing Co.
Boeing serves a massiveglobal marketthrough its commercial airplanes, defense systems, and space divisions. For 2025, U.S. government contracts accounted for nearly 35% of total revenue, which includes sales to foreign allies. Customer concentration like this adds a layer of risk among defense stocks, as a change in government priorities could impact the bottom line.
In FY 2025, revenue reached approximately $89.5 billion, a 34.5% increase from the prior year. The company reported net income of roughly $2.2 billion for the period. This resulted in a net margin of about 2.5%, a notable improvement from the net loss and negative net margin reported in the previous fiscal year.
As of its December 2025 balance sheet, the debt-to-equity ratio was nearly 10x, indicating that total liabilities are 10 times shareholder equity. The current ratio, which measures the ability to pay short-term obligations with short-term assets, was roughly 1.2x. Free cash flow, calculated as cash from operations minus capital expenditures, was approximately negative $1.9 billion for the fiscal year. Note that stock-based compensation (SBC) accounted for roughly 40% of operating cash flow, thereby inflating reported cash generation, since SBC is a non-cash expense added back in the cash flow statement.
The case for Firefly Aerospace
Firefly Aerospace operates in the high-growth niche of small- to medium-sized launch vehicles and lunar exploration systems. The company focuses on launching satellites and operating space systems for both commercial and government agencies. It faces extreme customer concentration, with its top five customers accounting for over 86% of total revenue in 2025.
For FY 2025, the company reported revenue of nearly $159.9 million, which is an increase of 163% over the previous year. Despite this growth, the company recorded a net loss of $298.3 million. This reflects heavy investmment in its launch capabilities and infrastructure.
As of the December 2025 balance sheet, the current ratio was nearly 4.5x, suggesting a strong ability to cover short-term liabilities with liquid assets. The debt-to-equity ratio was approximately 0.3x, showing a relatively low level of debt compared to equity. Free cash flow was roughly negative $237.8 million for the fiscal year, indicating that the company is still spending more on operations and equipment than it generates.
Risk profile comparison
Boeing faces significant operational challenges, particularly regarding production stability and quality control for the 737 program. Financial results are also pressured by reach-forward losses on fixed-price development projects, such as the 777X program. Furthermore, the company faces stiff competition from global rivals like Airbus and exposure to shifting trade relations between the U.S. and China.
Firefly Aerospace relies on successful missions, but a launch anomaly in April 2025 highlighted the inherent dangers of the space industry. The company also faces intense competition from established players like Northrop Grumman Corp. (NYSE:NOC) and larger private launch providers. Because five customers provide nearly 86% of revenue, the loss of a single contract or a change in government budgetary priorities could significantly harm financial results.
Valuation comparison
Boeing trades at a higher forward P/E relative to future earnings estimates than the sector average, while Firefly Aerospace trades at an even higher P/S ratio due to its smaller revenue base.
Forward P/E
52.4x
72.2x
30.4x
P/S ratio
1.9x
37.1x
n/a
Sector benchmark uses the SPDR XLI sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.
Which stock would I buy in 2026?
Boeing Co. is the bigger name, but Firefly Aerospace offers the bigger potential return.
There are some obvious risks to FLY, including the fact that it has only been public since August 2025, when it sold shares at its initial public offering for $45. The large loss for fiscal 2025 is another. But its worth considering the road ahead for Firefly.
Firefly Aerospace is the only private company to execute a successful lunar landing, landing on the Moon in March 2025 with its Blue Ghost Mission I. The success of that effort has ingratiated Firefly with NASA, which sent 10 payloads to the Moon with last year’s mission. The company now plans annual missions to the Moon to deliver payloads for NASA as part of the agency’s aim to construct a permanent lunar base. Exciting stuff, and considering the attention the SpaceX IPO will bring to space businesses, that can only be another positive for FLY.
While future projections are inherently speculative, Wall Street analysts expect Firfly to top $440 million this year and reach $1 billion in annual revenue in its fiscal 2028.
Investing in a young company like Firefly Aerospace probably will bring some turbulence, but it offers fast potential growth for those going along for the ride.
Should you buy stock in Boeing right now?
Before you buy stock in Boeing, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Boeing wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $445,672!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,280,566!*
Now, it’s worth noting Stock Advisor’s total average return is 948% — a market-crushing outperformance compared to 206% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of June 9, 2026.
Brendan Coffey has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Boeing. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Boeing vs. Firefly Aerospace: Which Aerospace Stock Is a Better Buy in 2026?

A study of analyst recommendations at the major brokerages shows that Boeing Co. (Symbol: BA) is the #6 broker pick, on average, out of the 30 stocks making up the Dow Jones Industrial Average, according to ETF Channel. Boeing Co. also comes in above the median of analyst picks among the broader S&P 500 index components, claiming the #54 spot out of 500.
Below is a chart of rank over time:
BA is currently trading off about 0.2% midday Tuesday.
Further BA Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Broker Darlings of the Dow: Boeing Ranks As a Top 15 Analyst Pick

Northrop Grumman Corporation NOC has recently secured a $100 million contract from the U.S. Navy to support the production and launch operations of the GQM-163A aerial target missile system. The contract was awarded by the Naval Air Warfare Center Weapons Division, Point Mugu, CA.
The contract includes the production and delivery of flight trajectory data and technical support packages for the Ground Launch Drone Missile GQM-163A aerial target system. It also covers the operation, maintenance and loading of GQM-163A targets onto launch systems before launch to support the Navy’s Pacific Target Marine Operations Division.
The majority of the work related to this deal will be carried out in Chandler, AZ; Point Mugu, CA; and Las Cruces, NM. The contract is expected to be completed by May 2031.
What’s Favoring NOC Stock?
According to a report from the Mordor Intelligence firm, rising military conflicts, terrorism and border disputes have led nations to increase their focus on national security, particularly on missile defense systems in recent times, backed by the rapid development of advanced missile technologies over the last decade. Mordor Intelligence also forecasts that the global missiles and missile defense systems market will witness a compound annual growth rate of 5.58% during the 2026-2031 period.
Such strong growth projections indicate solid opportunities for Northrop Grumman, which develops and builds advanced missile defense technology, ranging from command systems to directed energy weapons, advanced munitions and powerful sensors. Notably, NOC’s IBCS serves as the centerpiece of the U.S. Army's air and missile defense modernization strategy and thus enjoys a solid demand in the missile and missile defense systems market. The recent contract is an example of that.
Opportunities for Other Defense Stocks
Other defense companies that are likely to enjoy the perks of the expanding missiles and missile system market have been discussed below.
RTX Corporation RTX: It is known for its missile defense systems like the Patriot and SM-6, which are in high demand globally. RTX also provides advanced sensors and interceptors to identify, track and defeat threats as part of a layered missile defense.
The company’s long-term (three to five years) earnings growth rate is 10.2%. The Zacks Consensus Estimate for RTX’s 2026 sales indicates year-over-year growth of 5.7%.
The Boeing Company BA: It manufactures various missile defense systems, including the Ground-based Midcourse Defense, Aegis Ballistic Missile Defense and Avenger. Boeing-built air and missile defense systems have been protecting its customers for nearly 25 years against threats ranging from intercontinental ballistic missiles to hostile aircraft.
The Zacks Consensus Estimate for BA’s 2026 sales indicates year-over-year growth of 8.1%. The Zacks Consensus Estimate for BA’s 2026 earnings indicates year-over-year improvement.
Lockheed Martin Corporation LMT: Lockheed Martin’s renowned missile program includes the Patriot Advanced Capability-3 and Terminal High-Altitude Area Defense air and missile defense programs. It also manufactures the Multiple Launch Rocket System, the Joint Air-to-Surface Standoff Missile and Javelin tactical missile programs alongside other tactical missiles.
The company has a long-term earnings growth rate of 18.5%. The Zacks Consensus Estimate for LMT’s 2026 sales indicates year-over-year growth of 5.3%.
NOC Stock’s Price Movement
Shares of NOC have gained 11.4% in the past year compared with the industry’s 0.4% growth.
Image Source: Zacks Investment Research
NOC’s Zacks Rank
NOC currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Northrop Grumman Secures Navy Contract for GQM-163A Target Support

Key Points
This stock has performed poorly since early 2020, for reasons within and beyond its control.
The business could be on the verge of a slow, sustained explosion driven by sheer necessity.
There’s minimal downside risk here for anyone who can stomach the likely volatility.
It's tempting to be sure. Although the stock's made no net progress since its collapse in early 2020, the company's backlog continues growing to record levels. It just received a huge number of orders from China, too, where a state-supported competitor operates.
Still, most investors are hesitant to take a swing, and understandably so.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
The company in question is passenger jet maker Boeing (NYSE: BA). Here's some food for thought if the ticker is on your watch list but not yet in your portfolio.
The long-term stage is set (bullishly)
A quick-and-dirty recap of the past seven years: After years of development, two separate crashes of its lauded 737 MAX jets, in 2018 and 2019, followed by the airline industry's pandemic-prompted shutdown in 2020, have had Boeing on the ropes. Then, just when a ray of hope was finally starting to shine, a fresh round of economic malaise -- bolstered by the conflict with Iran -- undermined the budding rebound. Most major airlines are struggling with painfully high fuel costs that are upending smaller carriers like now-defunct Spirit. Airlines just aren't in a great position to purchase new planes.
They may have little choice in the matter, though. That's what Boeing's recent results suggest, anyway. The company's first-quarter revenue grew 14% year over year, chipping away at its lingering losses. Analysts expect similar progress through this year and into next, when the company's projected to swing back to a solid per-share profit of $4.11, en route to a bottom line of $7.83 per share in 2028.
The thing is, Boeing can -- and likely will -- reach this lofty profit target. Its backlog of business continues to swell despite broad economic headwinds, having grown to $695 million (over 6,100 aircraft) by the end of Q1.
And that's still just the beginning. In its most recent industry outlook, Boeing predicts the world will take delivery of 43,600 commercial passenger jets between now and the end of 2044, bringing its total active aircraft count to 49,640. Yes, nearly all planes in use right now will be replaced by then, starting soon.
Somewhere in between
But the question remains: 12 months from now, will you wish you'd bought this stock today?
The best answer is a definitive "maybe."
From a valuation perspective, this stock's current price of about 50 times next year's anticipated earnings, and nearly 30 times 2028's expected per-share profits, isn't outrageous. But it is relatively steep for a company that moves slowly even in the best of times. That's also expensive given the raw reality that the global economy could slow down in the foreseeable future (particularly if the conflict in the Middle East lingers or, worse, escalates).
On the other hand, it's difficult to ignore the fact that the analyst community still mostly rates Boeing stock as a strong buy, with a 12-month consensus price target of $270.79 that's nearly 30% above the ticker's present price. Again, though, those are outlooks that assume the world maintains its status quo. If it doesn't, everything changes.
Conclusion? Boeing isn't a must-have name here, particularly if you're risk-averse or absolutely need great growth. There's not a lot of near-term downside, though. You could certainly do worse.
Should you buy stock in Boeing right now?
Before you buy stock in Boeing, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Boeing wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $439,632!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,316,532!*
Now, it’s worth noting Stock Advisor’s total average return is 960% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of June 4, 2026.
James Brumley has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Boeing. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Boeing Company (The)

Market sentiment

Bearish sentiment

Share of longs and shorts

Confidence Index

Bulls

Bears

Support Index

Bulls

Bears

Cash flows Index

Bulls

Bears

Momentum

Metrics since the start of the current trend:

Protective stop levels