BA (Update)
Boeing Co
Industrial/Transportation
06/25/2015
Presented
| Date | 06/22/2015 |
| Price | $145.70 |
| Market Cap | N/A |
| Ent Value | $100.32B |
| P/E Ratio | 18.2x |
| Book Value | $11.39 |
| Div Yield | 2.5% |
| Shares O/S | 691.52M |
| Ave Daily Vol | 3,720,000 |
| Short Int | 1.85% |
Current
| Price | $152.35 |
| Market Cap | $93.87B |
| The Boeing Company, 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 worldwide. The company operates in five segments: Commercial Airplanes, Boeing Military Aircraft, Network & Space Systems, Global Services & Support, and Boeing Capital. The Commercial Airplanes segment develops, produces, and markets commercial jet aircraft for various passenger and cargo requirements, as well as provides related support services to the commercial airline industry. This segment also offers aviation services support, aircraft modifications, spares, training, maintenance documents, and technical advice to commercial and government customers. The Boeing Military Aircraft segment is involved in the research, development, production, and modification of manned and unmanned military aircraft and weapons systems for the global strike and vertical lift, and unmanned airborne systems programs, as well as mobility, surveillance, and engagement. The Network & Space Systems segment engages in the research, development, production, and modification of electronics and information solutions; strategic missile and defense systems; space and intelligence systems; and space exploration products. The Global Services and Support segment offers integrated logistics, including supply chain management and engineering support; maintenance, modification, and upgrades for aircraft; and training systems and government services, such as pilot and maintenance training. The Boeing Capital segment facilitates, arranges, structures, and provides financing solutions, such as equipment under operating leases, finance leases, notes and other receivables, assets held for sale or re-lease, and investments for its commercial airplanes customers. The Boeing Company was founded in 1916 and is based in Chicago, Illinois. |
Please note, this is an update to Long - The Boeing Company (BA), which was originally presented on 12/11/14.
Public companies mentioned in the summary notes: The Boeing Company (BA)
Highlights
The presenter continues to worry about the industrial economy broadly speaking, believing that multiples are simply too high in the face of so much uncertainty as to future revenues. In sharp contrast, BA’s production/ revenue is effectively locked in for the next 5-6 years, with airlines unlikely to cancel orders already on the books - the logic being that if airlines didn’t cancel orders during the depths of 2009, then they are highly unlikely to do so now. Indeed, the market at present seems overly concerned that airlines may actually choose to add capacity. Further, the presenter re-affirmed his belief that BA will use its pristine balance sheet to buy back stock at the rate of 8-10% of its market cap annually for the next few years.
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