Boeing (BA) FY2011 results: revenue $68.7 billion, up 6.9% on the year
Boeing Co. (BA) reported revenue of $68.7 billion for fiscal 2011, the year ended 31 December 2011, up 6.9% on the year before. Net income was $4.0 billion, up 21.5%, and diluted earnings per share $5.34. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2012.
Revenue
$68.7 billion
+6.9% on the year
FY2007FY2011
Operating margin
8.5%
7.7% a year earlier
FY2007FY2011
Net income
$4.0 billion
+21.5% on the year
FY2007FY2011
Diluted EPS
$5.34
+20.0% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
68,735
64,306
68,281
+6.9%
Cost of revenue
55,867
51,843
56,540
+7.8%
Gross profit
12,868
12,463
11,741
+3.2%
Gross margin
18.7%
19.4%
17.2%
Research and development
3,918
4,121
6,506
-4.9%
Operating income
5,823
4,971
2,096
+17.1%
Operating margin
8.5%
7.7%
3.1%
Pre-tax income
5,393
4,507
1,731
+19.7%
Income tax
1,382
1,196
396
+15.6%
Effective tax rate
25.6%
26.5%
22.9%
Net income
4,018
3,307
1,312
+21.5%
Net margin
5.8%
5.1%
1.9%
Diluted EPS
$5.34
$4.45
$1.84
+20.0%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
4,023
2,952
5,603
+36.3%
Capital expenditure
1,713
1,125
1,186
+52.3%
Free cash flow
2,310
1,827
4,417
+26.4%
Free cash flow margin
3.4%
2.8%
6.5%
Cash from investing
2,369
-4,831
-3,794
Cash from financing
-1,700
-1,962
4,094
Depreciation and amortisation
1,675
1,746
1,066
-4.1%
Share-based compensation
186
215
238
-13.5%
Buybacks
n/a
n/a
50.0
Dividends paid
1,244
1,253
1,220
-0.7%
Dividend per share
$1.70
$1.68
$1.68
+1.2%
Diluted shares, weighted
753m
744m
713m
+1.2%
Shares outstanding at period end
1,012m
1,012m
1,012m
0.0%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
3,515
2,766
2,128
+27.1%
Non-controlling interest
93.0
96.0
97.0
-3.1%
Debt
12,371
12,421
12,217
-0.4%
Other liabilities
64,007
53,282
47,611
+20.1%
Total liabilities and equity
79,986
68,565
62,053
+16.7%
Fixed assets
9,313
8,931
8,784
+4.3%
Goodwill
4,945
4,937
4,319
+0.2%
Intangible assets
3,044
2,979
2,877
+2.2%
Investments
2,266
6,269
3,038
-63.9%
Cash and equivalents
10,049
5,359
9,215
+87.5%
Receivables
5,793
5,422
5,785
+6.8%
Other assets
44,576
34,668
28,035
+28.6%
Total assets
79,986
68,565
62,053
+16.7%
10-K for the year ended 31 December 2011, filed 9 February 2012: the filing.