Boeing (BA) FY2019 results: revenue $76.6 billion, down 24.3% on the year
Boeing Co. (BA) reported revenue of $76.6 billion for fiscal 2019, the year ended 31 December 2019, down 24.3% on the year before. Net income was -$636 million, and diluted earnings per share $-1.12. The figures are the company's own, from the 10-K it filed with the SEC on 31 January 2020.
Revenue
$76.6 billion
-24.3% on the year
FY2012FY2019
Operating margin
-2.6%
11.9% a year earlier
FY2012FY2019
Net income
-$636 million
FY2012FY2019
Diluted EPS
-$1.12
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
76,559
101,127
94,005
-24.3%
Cost of revenue
72,093
81,490
76,612
-11.5%
Gross profit
4,466
19,637
17,393
-77.3%
Gross margin
5.8%
19.4%
18.5%
Research and development
3,219
3,269
3,179
-1.5%
Operating income
-1,975
11,987
10,344
Operating margin
-2.6%
11.9%
11.0%
Pre-tax income
-2,259
11,604
10,107
Income tax
-1,623
1,144
1,649
Effective tax rate
n/a
9.9%
16.3%
Net income
-636
10,460
8,458
Net margin
-0.8%
10.3%
9.0%
Diluted EPS
-$1.12
$17.85
$13.85
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
-2,446
15,322
13,344
Capital expenditure
1,834
1,722
1,739
+6.5%
Free cash flow
-4,280
13,600
11,605
Free cash flow margin
-5.6%
13.4%
12.3%
Cash from investing
-1,530
-4,621
-2,062
Cash from financing
5,739
-11,722
-11,350
Depreciation and amortisation
2,271
2,114
2,047
+7.4%
Share-based compensation
212
202
202
+5.0%
Buybacks
2,651
9,000
9,236
-70.5%
Dividends paid
4,630
3,946
3,417
+17.3%
Dividend per share
$8.22
$7.19
$5.97
+14.3%
Diluted shares, weighted
565m
586m
610m
-3.4%
Shares outstanding at period end
1,012m
1,012m
1,012m
0.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
-8,617
339
1,656
Non-controlling interest
317
71.0
57.0
+346.5%
Debt
27,302
13,847
11,117
+97.2%
Operating lease liabilities
978
n/a
n/a
Other liabilities
113,645
103,102
99,532
+10.2%
Total liabilities and equity
133,625
117,359
112,362
+13.9%
Fixed assets
12,502
12,645
12,672
-1.1%
Goodwill
8,060
7,840
5,559
+2.8%
Intangible assets
3,338
3,429
2,573
-2.7%
Investments
1,637
2,014
2,439
-18.7%
Cash and equivalents
9,485
7,637
8,813
+24.2%
Receivables
3,266
3,879
2,894
-15.8%
Other assets
95,337
79,915
77,412
+19.3%
Total assets
133,625
117,359
112,362
+13.9%
10-K for the year ended 31 December 2019, filed 31 January 2020: the filing.