Boeing Co BA
Summary (from latest annual report – 2015)
· Total equity : 6.33 billion USD
· Market Cap is 86.7 billion USD ( last price of the stock is 130.57 USD)
· Boeing Co, together with its subsidiaries designs, develops, manufactures, sells, services and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems and services
· Equity of total company decreased from 8.66 billion USD in 2014 to 6.33 billion in 2015
· Company has 11.3 billion USD in cash on account (from latest annual report 2015 year)
· Company has 29.56 billion USD treasury stock
· In 2015 company has 8.73 billion USD long-term debt, short -term debt was 1.23 billion USD (In 2014 company had 8.14 billion USD long-term debt , short-term debt was 929 million USD)
· BA balance sheet has become weaker in 2015 (In latest annual report - total equity decreased to 6.33 billion USD from 8.66 billion USD in 2014, total debt was 9.96 billion USD in 2015)
· Company's revenue increased in 2015 to 96.11 billion USD from 90.76 billion in 2014
· Net income in 2015 was 5.17 billion USD, Net income in 2014 was 5.44 billion USD
· In 2015 company paid 2.49 billion usd dividend to its shareholders
Boeing Co is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets and satellites. It also provides leasing and product support services. Boeing is among the largest global aircraft manufacturers, is the second-largest defense contractor in the world based on 2013 revenue, and is the largest exporter in the United States by dollar value. In August 1997, Boeing merged with McDonnell Douglas in a US$13 billion stock swap under the name The Boeing Company.
Boeing Co standalone subsidiaries and acquisitions :
· In 1996, Boeing acquired Rockwell's aerospace and defense units for 3 billion USD. The Rockwell business units became a subsidiary of Boeing, named Boeing North American, Inc.
· In 2000 Boeing acquired the flight information service provider Jeppesen Sanderson from Tribune for 1.5 billion USD in cash
· In January 2000, Boeing chose to expand its presence in another aerospace field of satellite communications by purchasing Hughes Electronics for 3.75 billion USD
· In 2006 Boeing acquired aviation parts and services company Aviall Inc. for 1.7 billion USD
· In 2008 Boeing acquired Insitu for 400 million USD (company which makes unmanned aerial vehicles)
· In 2009 Boeing acquired the business, assets and operations of Vought Aircraft Industries' 787 business conducted at North Charleston, South Carolina for 590 million USD
· In 2010 Boeing acquired Argon ST, Inc. for 782 million USD. Argon develops command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) and, combat systems
· In last couple of years Boeing had several smaller acquisitions (Peters Software, AerData, ETS Aviation, Narus, eXMeritus, Carmen Systems, Ventura Solutions) worth 300 million USD
Total = 12.02 billion usd
On August 11, 2006, Boeing agreed to form a joint-venture with the large Russian titanium producer, VSMPO-Avisma for the machining of titanium forgings. The forgings will be used on the 787 program. On December 27, 2007 Boeing and VSMPO-Avisma created a joint venture, Ural Boeing Manufacturing, and signed a contract on titanium product deliveries until 2015, with Boeing planning to invest 27 billion USD in Russia over the next 30 years
Opinion about the company
Fundamentally it is a good company and in the future we can expect its growth (Total debt is big – 9.96 billion usd, company has 11.3 billion USD in cash on account, ROE is around 69 %).