Boeing (BA) FY2021 results: revenue $62.3 billion, up 7.1% on the year

Boeing Co. (BA) reported revenue of $62.3 billion for fiscal 2021, the year ended 31 December 2021, up 7.1% on the year before. Net income was -$4.2 billion, and diluted earnings per share $-7.15. The figures are the company's own, from the 10-K it filed with the SEC on 31 January 2022.

Revenue

$62.3 billion

+7.1% on the year

FY2014FY2021

Operating margin

-4.6%

-22.0% a year earlier

FY2014FY2021

Net income

-$4.2 billion

FY2014FY2021

Diluted EPS

-$7.15

FY2014FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q4 FY2021

Income statement (profit and loss)

$ million	FY2021	FY2020	FY2019	On the year
Revenue	62,286	58,158	76,559	+7.1%
Cost of revenue	59,269	63,843	72,093	-7.2%
Gross profit	3,049	-5,685	4,466
Gross margin	4.9%	-9.8%	5.8%
Research and development	2,249	2,476	3,219	-9.2%
Operating income	-2,870	-12,767	-1,975
Operating margin	-4.6%	-22.0%	-2.6%
Pre-tax income	-5,033	-14,476	-2,259
Income tax	-743	-2,535	-1,623
Net income	-4,202	-11,873	-636
Net margin	-6.7%	-20.4%	-0.8%
Diluted EPS	-$7.15	-$20.88	-$1.12

$ million except per share.

Free 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	FY2021	FY2020	FY2019	On the year
Operating cash flow	-3,416	-18,410	-2,446
Capital expenditure	980	1,303	1,834	-24.8%
Free cash flow	-4,396	-19,713	-4,280
Free cash flow margin	-7.1%	-33.9%	-5.6%
Cash from investing	9,324	-18,366	-1,530
Cash from financing	-5,600	34,955	5,739
Depreciation and amortisation	2,144	2,246	2,271	-4.5%
Share-based compensation	833	250	212	+233.2%
Buybacks	n/a	n/a	2,651
Dividends paid	n/a	1,158	4,630
Dividend per share	n/a	n/a	$8.22
Diluted shares, weighted	588m	569m	565m	+3.3%
Shares outstanding at period end	1,012m	1,012m	1,012m	0.0%

Balance sheet

$ million	FY2021	FY2020	FY2019	On the year
Shareholders' equity	-14,999	-18,316	-8,617
Non-controlling interest	153	241	317	-36.5%
Debt	57,921	63,380	27,302	-8.6%
Operating lease liabilities	1,271	n/a	978
Other liabilities	94,206	106,831	113,645	-11.8%
Total liabilities and equity	138,552	152,136	133,625	-8.9%
Fixed assets	10,918	11,820	12,502	-7.6%
Goodwill	8,068	8,081	8,060	-0.2%
Intangible assets	2,562	2,843	3,338	-9.9%
Investments	9,167	18,854	1,637	-51.4%
Cash and equivalents	8,052	7,752	9,485	+3.9%
Receivables	2,641	1,955	3,266	+35.1%
Other assets	97,144	100,831	95,337	-3.7%
Total assets	138,552	152,136	133,625	-8.9%

10-K for the year ended 31 December 2021, filed 31 January 2022: the filing.