Boeing (BA) FY2020 results: revenue $58.2 billion, down 24.0% on the year
Boeing Co. (BA) reported revenue of $58.2 billion for fiscal 2020, the year ended 31 December 2020, down 24.0% on the year before. Net income was -$11.9 billion, and diluted earnings per share $-20.88. The figures are the company's own, from the 10-K it filed with the SEC on 1 February 2021.
Revenue
$58.2 billion
-24.0% on the year
FY2013FY2020
Operating margin
-22.0%
-2.6% a year earlier
FY2013FY2020
Net income
-$11.9 billion
FY2013FY2020
Diluted EPS
-$20.88
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
58,158
76,559
101,127
-24.0%
Cost of revenue
63,843
72,093
81,490
-11.4%
Gross profit
-5,685
4,466
19,637
Gross margin
-9.8%
5.8%
19.4%
Research and development
2,476
3,219
3,269
-23.1%
Operating income
-12,767
-1,975
11,987
Operating margin
-22.0%
-2.6%
11.9%
Pre-tax income
-14,476
-2,259
11,604
Income tax
-2,535
-1,623
1,144
Effective tax rate
n/a
n/a
9.9%
Net income
-11,873
-636
10,460
Net margin
-20.4%
-0.8%
10.3%
Diluted EPS
-$20.88
-$1.12
$17.85
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-18,410
-2,446
15,322
Capital expenditure
1,303
1,834
1,722
-29.0%
Free cash flow
-19,713
-4,280
13,600
Free cash flow margin
-33.9%
-5.6%
13.4%
Cash from investing
-18,366
-1,530
-4,621
Cash from financing
34,955
5,739
-11,722
+509.1%
Depreciation and amortisation
2,246
2,271
2,114
-1.1%
Share-based compensation
250
212
202
+17.9%
Buybacks
n/a
2,651
9,000
Dividends paid
1,158
4,630
3,946
-75.0%
Dividend per share
n/a
$8.22
$7.19
Diluted shares, weighted
569m
565m
586m
+0.6%
Shares outstanding at period end
1,012m
1,012m
1,012m
0.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-18,316
-8,617
339
Non-controlling interest
241
317
71.0
-24.0%
Debt
63,380
27,302
13,847
+132.1%
Operating lease liabilities
n/a
978
n/a
Other liabilities
106,831
113,645
103,102
-6.0%
Total liabilities and equity
152,136
133,625
117,359
+13.9%
Fixed assets
11,820
12,502
12,645
-5.5%
Goodwill
8,081
8,060
7,840
+0.3%
Intangible assets
2,843
3,338
3,429
-14.8%
Investments
18,854
1,637
2,014
+1,051.7%
Cash and equivalents
7,752
9,485
7,637
-18.3%
Receivables
1,955
3,266
3,879
-40.1%
Other assets
100,831
95,337
79,915
+5.8%
Total assets
152,136
133,625
117,359
+13.9%
10-K for the year ended 31 December 2020, filed 1 February 2021: the filing.