Boeing (BA) FY2022 results: revenue $66.6 billion, up 6.9% on the year

Boeing Co. (BA) reported revenue of $66.6 billion for fiscal 2022, the year ended 31 December 2022, up 6.9% on the year before. Net income was -$4.9 billion, and diluted earnings per share $-8.30. The figures are the company's own, from the 10-K it filed with the SEC on 27 January 2023.

Revenue

$66.6 billion

+6.9% on the year

FY2015FY2022

Operating margin

-5.3%

-4.6% a year earlier

FY2015FY2022

Net income

-$4.9 billion

FY2015FY2022

Diluted EPS

-$8.30

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	66,608	62,286	58,158	+6.9%
Cost of revenue	63,106	59,269	63,843	+6.5%
Gross profit	3,530	3,049	-5,685	+15.8%
Gross margin	5.3%	4.9%	-9.8%
Research and development	2,852	2,249	2,476	+26.8%
Operating income	-3,519	-2,870	-12,767
Operating margin	-5.3%	-4.6%	-22.0%
Pre-tax income	-5,022	-5,033	-14,476
Income tax	31.0	-743	-2,535
Net income	-4,935	-4,202	-11,873
Net margin	-7.4%	-6.7%	-20.4%
Diluted EPS	-$8.30	-$7.15	-$20.88

$ 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	FY2022	FY2021	FY2020	On the year
Operating cash flow	3,512	-3,416	-18,410
Capital expenditure	1,222	980	1,303	+24.7%
Free cash flow	2,290	-4,396	-19,713
Free cash flow margin	3.4%	-7.1%	-33.9%
Cash from investing	4,370	9,324	-18,366	-53.1%
Cash from financing	-1,266	-5,600	34,955
Depreciation and amortisation	1,979	2,144	2,246	-7.7%
Share-based compensation	725	833	250	-13.0%
Dividends paid	n/a	n/a	1,158
Diluted shares, weighted	595m	588m	569m	+1.2%
Shares outstanding at period end	1,012m	1,012m	1,012m	0.0%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	-15,883	-14,999	-18,316
Non-controlling interest	35.0	153	241	-77.1%
Debt	56,794	57,921	63,380	-1.9%
Operating lease liabilities	1,305	1,271	n/a	+2.7%
Other liabilities	94,849	94,206	106,831	+0.7%
Total liabilities and equity	137,100	138,552	152,136	-1.0%
Fixed assets	10,550	10,918	11,820	-3.4%
Goodwill	8,057	8,068	8,081	-0.1%
Intangible assets	2,311	2,562	2,843	-9.8%
Investments	3,589	9,167	18,854	-60.8%
Cash and equivalents	14,614	8,052	7,752	+81.5%
Receivables	2,517	2,641	1,955	-4.7%
Other assets	95,462	97,144	100,831	-1.7%
Total assets	137,100	138,552	152,136	-1.0%

10-K for the year ended 31 December 2022, filed 27 January 2023: the filing.