Is BA a good stock to buy? We came across a bullish thesis on The Boeing Company on r/stocks by _Swish-41_. In this article, we will summarize the bulls’ thesis on BA. The Boeing Company’s share was trading at $231.28 as of April 22nd. BA’s trailing and forward P/E were 88.37 and 153.85 respectively according to Yahoo Finance.
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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. BA is framed as a free cash flow turnaround story, with the market underappreciating the magnitude of earnings power recovery embedded in management’s forward guidance and historical production capabilities.
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As of December 2nd, 2025, Boeing’s CFO indicated that 2026 is expected to turn positive on free cash flow, with long-term annual potential of $10 billion still on the table. At a 20–25x free cash flow multiple, this $10 billion run-rate implies an equity valuation range of $255 to $318 per share, compared to the current share price, suggesting meaningful upside as sentiment normalizes. Historically, Boeing generated strong cash flow prior to the 737 MAX crisis, with nominal free cash flow of $10.5 billion in 2016, $11.6 billion in 2017, and a peak of $15.3 billion in 2018 on $101 billion of revenue and 806 aircraft deliveries.
On an inflation-adjusted basis, those figures translate to approximately $13.9 billion, $15.0 billion, and $19.3 billion, highlighting the scale of pre-crisis earnings power. The CFO’s $10 billion forward target sits 48% below the inflation-adjusted 2018 peak, implying substantial headroom if production stability and execution continue improving.
If Boeing were to eventually return to its prior cycle peak near $19 billion in annual free cash flow, applying a 20–25x multiple would imply potential valuation range of $500 to $600 per share. While execution risks remain tied to operational recovery, supply chain stability, and regulatory scrutiny, the setup is positioned as a high-upside turnaround with rerating potential if cash flow normalization is achieved.
Previously, we covered a bullish thesis on The Boeing Company (BA) by DeepValue Capital by Kyler in March 2025, which highlighted operational turnaround, backlog strength, and leadership-driven recovery. BA’s stock price has appreciated by approximately 29.85% since our coverage. _Swish-41_ shares a similar view but emphasizes free cash flow recovery and valuation re-rating upside focus.
The Boeing Company is on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 114 hedge fund portfolios held BA at the end of the fourth quarter which was 106 in the previous quarter. While we acknowledge the risk and potential of BA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BA and that has 10,000% upside potential, check out our report about this cheapest AI stock.
Disclosure: None.
