The Boeing Company

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF using normalized mid-cycle assumptions: revenue grows from $94.0B TTM at 10%/yr tapering to 4%/yr by year 10 as 737 MAX output ramps and 787/777X programs stabilize; FCF margin normalizes from ~1% to an 11% mid-cycle margin, discounted at 8.5% WACC with 3% terminal growth, less $29.07B net debt, divided by 790.37M shares outstanding.

Reasoning: Boeing's trailing FCF/earnings are distorted by 737 MAX/787 charges and ramp costs, so a multi-stage DCF anchored to normalized mid-cycle delivery rates and margins, not trailing GAAP figures, is the rigorous way to value the underlying aerospace duopoly franchise.