BA · sample dossier
Boeing Company
32/100
Stale StatementsGenerated Oct 24, 2026 · 10:00 AM UTC · 3 hours ago
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EquityBoeing Company · XNYS
Decision context
Recommendation
A cautious picture — if you own it, consider taking some off.
AlphaDog Fair Value
Market context
Snapshot returns at report publication
1 month
-4.3%
3 months
-10.9%
6 months
-19.0%
1 year
-13.0%
At a Glance
A large company is in a pullback at premium pricing.
Top Holders
As of Jun 30, 2026Financial trajectory
Financial Performance
Executive thesis & key metrics
Executive Thesis
Boeing Company (BA) is an aerospace and defense manufacturer operating across Commercial Airplanes, Defense, Space & Security, and Global Services with a $148.87B market cap, trading at $188.35 and a 67.27 TTM P/E ratio.
Key Metrics to Watch
What changed recently
No material changes found in the last 30 days.
Why this rating
Score 32 · Reduce
Data through
Stale StatementsJun 30, 2026
A newer quarter has been reported and is not in these statements.
Growth scores 89/100 — top-line expansion leads the profile.
Re-evaluate if
- Net margin falls below 2.1% (was 2.6%)
- TTM Debt/Equity declines below 7.91 while TTM FCF/share improves above -$1.33.
Trim / reconsider if
- ROA falls below -2.7% (was -2.0%)
Think of these dollars as a map of our value estimate for Reduce — helpful context, not a reason to override the view.
A Calmer Look · Devil's Advocate
The prevailing 'Avoid' consensus and winning bear case fixate on trailing balance sheet scars—specifically the 7.91 Debt/Equity ratio and 1.16 Altman Z-score—while missing the operational inflection underway.
May be overlooked
The consensus entirely omits Boeing's commercial order backlog, regulatory duopoly moat, and customer concentration dynamics, evaluating the $148.87B market cap solely on depressed trailing margins (4.7% gross, 2.6% net) rather than multi-year revenue visibility.
The synthesis report admits that specific disclosures regarding material weaknesses, going-concern qualifications, or SEC inquiries are 'Not publicly available' in the truncated 10-K and 8-K excerpts, leaving unexamined legal and compliance blind spots.
Both sides rely on stale financial statement data from the period ended 2026-06-30 (>90 days old) and stale insider buying from 2026-05-20 ($299,345 purchase by Bradley D. Tilden), creating a blind spot regarding current-quarter cash liquidity and Q3 operational execution.
Expectations look stretched
The bull advocate cites a 2.6% TTM net margin and 4.7% gross margin as proof of positive profitability, glossing over the fact that EBITDA is negative (EV/EBITDA of -61.4), ROA is -2.0%, and the stale 2026-06-30 period showed a -$0.67 EPS loss.
Bulls highlight institutional holdings by Blackrock (61.0M shares) and Vanguard (51.5M shares) as 'Core Institutional Sponsorship', ignoring that these are largely passive index-tracking mandates rather than active conviction buys.
The bull case leans on a tiny sample of 3 bullish articles out of 6 scraped (as of 2026-10-23) and MAX 10 headlines to argue a turnaround, while the market rejects this optimism with -4.3% 1M and -13.0% 1Y returns and prices below the 50-day and 200-day moving averages.
TTM net margin expands sustainably above 2.6% alongside TTM gross margin improving above 4.7%.
TTM net margin expands sustainably above 2.6% alongside TTM gross margin improving above 4.7%.
Monitor These Triggers
3 Checkpoints · Next PrintTTM FCF/share (currently -$1.33) and TTM Debt/Equity (currently 7.91) to verify whether 34.5% YoY revenue growth converts into cash generation sufficient to lift the 1.16 Altman Z-score out of distress.
Go deeper
For learning and research only — not investment advice. AlphaDog doesn’t hold stocks and isn’t your financial advisor.
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