Boeing (BA) FY2010 results: revenue $64.3 billion, down 5.8% on the year
Boeing Co. (BA) reported revenue of $64.3 billion for fiscal 2010, the year ended 31 December 2010, down 5.8% on the year before. Net income was $3.3 billion, up 152.1%, and diluted earnings per share $4.45. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2011.
Revenue
$64.3 billion
-5.8% on the year
FY2007FY2010
Operating margin
7.7%
3.1% a year earlier
FY2007FY2010
Net income
$3.3 billion
+152.1% on the year
FY2007FY2010
Diluted EPS
$4.45
+141.8% on the year
FY2007FY2010
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Revenue
64,306
68,281
60,909
-5.8%
Cost of revenue
51,843
56,540
50,352
-8.3%
Gross profit
12,463
11,741
10,557
+6.1%
Gross margin
19.4%
17.2%
17.3%
Research and development
4,121
6,506
3,768
-36.7%
Operating income
4,971
2,096
3,950
+137.2%
Operating margin
7.7%
3.1%
6.5%
Pre-tax income
4,507
1,731
3,995
+160.4%
Income tax
1,196
396
1,341
+202.0%
Effective tax rate
26.5%
22.9%
33.6%
Net income
3,307
1,312
2,672
+152.1%
Net margin
5.1%
1.9%
4.4%
Diluted EPS
$4.45
$1.84
$3.67
+141.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Operating cash flow
2,952
5,603
-401
-47.3%
Capital expenditure
1,125
1,186
1,674
-5.1%
Free cash flow
1,827
4,417
-2,075
-58.6%
Free cash flow margin
2.8%
6.5%
-3.4%
Cash from investing
-4,831
-3,794
1,888
Cash from financing
-1,962
4,094
-5,202
Depreciation and amortisation
1,746
1,066
1,013
+63.8%
Share-based compensation
215
238
209
-9.7%
Buybacks
n/a
50.0
2,937
Dividends paid
1,253
1,220
1,192
+2.7%
Dividend per share
$1.68
$1.68
$1.62
0.0%
Diluted shares, weighted
744m
713m
729m
+4.3%
Shares outstanding at period end
1,012m
1,012m
1,012m
0.0%
Balance sheet
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Shareholders' equity
2,766
2,128
-1,294
+30.0%
Non-controlling interest
96.0
97.0
152
-1.0%
Debt
12,421
12,217
6,952
+1.7%
Other liabilities
53,282
47,611
47,969
+11.9%
Total liabilities and equity
68,565
62,053
53,779
+10.5%
Fixed assets
8,931
8,784
8,762
+1.7%
Goodwill
4,937
4,319
3,647
+14.3%
Intangible assets
2,979
2,877
2,685
+3.5%
Investments
6,269
3,038
1,339
+106.4%
Cash and equivalents
5,359
9,215
3,268
-41.8%
Receivables
5,422
5,785
5,602
-6.3%
Other assets
34,668
28,035
28,476
+23.7%
Total assets
68,565
62,053
53,779
+10.5%
10-K for the year ended 31 December 2010, filed 9 February 2011: the filing.