slide1
Download
Skip this Video
Download Presentation
11/28/12

Loading in 2 Seconds...

play fullscreen
1 / 12

11/28/12 - PowerPoint PPT Presentation


  • 107 Views
  • Uploaded on

11/28/12. Company Description. Sector: Industrials / Industry: Aerospace & Defense 3 Main Divisions: 1. Commercial Airplanes ~ 60% of revenues 2. Defense, Space, and Security ~ 40% of revenues 3. Boeing Capital Corporation < 1% of revenues Geographic Sales Breakdown:

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about ' 11/28/12' - caia


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
company description
Company Description
  • Sector: Industrials/ Industry: Aerospace & Defense
  • 3 Main Divisions:
    • 1. Commercial Airplanes ~ 60% of revenues
    • 2. Defense, Space, and Security ~ 40% of revenues
    • 3. Boeing Capital Corporation < 1% of revenues
  • Geographic Sales Breakdown:
    • A. US ~ 50% of revenues
    • B. Asia (including China) ~ 18% of revenues
    • C. Europe ~ 14% of revenues
  • Competitors:
    • Airbus (subsidiary of European Aeronautic Defense and Space Company)
    • Lockheed Martin (LMT)
    • Northrop Grumman (NOC)
quick stats
Quick Stats
  • Valuation Statistics:
  • Trailing Price / Earnings Ratio: 13.05
  • Forward Price / Earnings Ratio: 14.56
  • 5 Yr Growth Estimate: 11.90%
  • Prices / Sales Ratio: 0.71
  • Price / Book Ratio: 15.66
  • Enterprise Value / EBITDA: 7.28
  • Balance Sheet
  • Cash: $11.12B
  • Debt: $11.19B
  • Current Price: $74.09
  • Market Cap: $55.87B
  • Enterprise Value: $56.32B
  • Beta: 1.04
  • 52 Week Price Range: $66.82 - $77.83
  • Div Yield: 2.40%
  • Income Statement Statistics:
  • Revenue (ttm): $78.95B
  • Quarterly Revenue Growth (YoY): 12.90%
  • EBITDA (ttm): $7.73B
  • Profit Margin (ttm): 5.47%
  • Net Income (ttm): $4.31B
investment thesis
Investment Thesis
  • Beginning to Ride the Powerful Aerospace Cycle
  • Recent Earning Have Been Stellar and Stock Still Cheap Because of Over-Heightened Defense Spending Cut Headwinds
  • Huge Backlog and Solid and Increasing Dividend Makes Boeing a Safe Play
boeing s huge backlog
Boeing’s Huge Backlog
  • Backlog stands at $378 billion including 4,100 unfilled commercial airplane orders
  • Would take over 7 years to clear this backlog out!
steadily increasing dividend
Steadily Increasing Dividend

Current Dividend = 2.40%

risks
Risks

1. Expected Defense Cuts in Washington

  • However…
    • A. Implemented cost cutting
    • B. 25% of DSS revenues are international

2. Expenses Tied to Fuel Costs

  • Huge operating expense ~ 1/3 of total expenses

3. Pension and Health Care Benefits

  • Currently have ~ $24 billion in accrued liabilities
conclusion price target
Conclusion/Price Target
  • Boeing will continue to blow out earnings, pushing the P/E ratio down, until the stock becomes too cheap that the price will have to go up
  • 12 month price target of $90, representing a 21% gain
ad