Boeing (BA) FY2024 results: revenue $66.5 billion, down 14.5% on the year

Boeing Co. (BA) reported revenue of $66.5 billion for fiscal 2024, the year ended 31 December 2024, down 14.5% on the year before. Net income was -$11.8 billion, and diluted earnings per share $-18.36. The figures are the company's own, from the 10-K it filed with the SEC on 3 February 2025.

Revenue

$66.5 billion

-14.5% on the year

FY2017FY2024

Operating margin

-16.1%

-1.0% a year earlier

FY2017FY2024

Net income

-$11.8 billion

FY2017FY2024

Diluted EPS

-$18.36

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	66,517	77,794	66,608	-14.5%
Cost of revenue	68,508	70,070	63,106	-2.2%
Gross profit	-1,991	7,724	3,530
Gross margin	-3.0%	9.9%	5.3%
Research and development	3,812	3,377	2,852	+12.9%
Operating income	-10,707	-773	-3,519
Operating margin	-16.1%	-1.0%	-5.3%
Pre-tax income	-12,210	-2,005	-5,022
Income tax	-381	237	31.0
Net income	-11,817	-2,222	-4,935
Net margin	-17.8%	-2.9%	-7.4%
Diluted EPS	-$18.36	-$3.67	-$8.30

$ 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	-12,080	5,960	3,512
Capital expenditure	2,230	1,527	1,222	+46.0%
Free cash flow	-14,310	4,433	2,290
Free cash flow margin	-21.5%	5.7%	3.4%
Cash from investing	-11,973	-2,437	4,370
Cash from financing	25,209	-5,487	-1,266
Depreciation and amortisation	1,836	1,861	1,979	-1.3%
Share-based compensation	407	690	725	-41.0%
Diluted shares, weighted	647m	606m	595m	+6.8%
Shares outstanding at period end	1,012m	1,012m	1,012m	0.0%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	-3,908	-17,233	-15,883
Non-controlling interest	-6.0	5.0	35.0
Debt	53,625	52,055	56,794	+3.0%
Operating lease liabilities	1,770	1,518	1,305	+16.6%
Other liabilities	104,882	100,667	94,849	+4.2%
Total liabilities and equity	156,363	137,012	137,100	+14.1%
Fixed assets	11,412	10,661	10,550	+7.0%
Goodwill	8,084	8,093	8,057	-0.1%
Intangible assets	1,957	2,094	2,311	-6.5%
Investments	13,480	4,309	3,589	+212.8%
Cash and equivalents	13,801	12,691	14,614	+8.7%
Receivables	2,631	2,649	2,517	-0.7%
Other assets	104,998	96,515	95,462	+8.8%
Total assets	156,363	137,012	137,100	+14.1%

10-K for the year ended 31 December 2024, filed 3 February 2025: the filing.