What is Boeing's net debt / EBITDA?

Boeing (BA) reported net debt / EBITDA of 7.3× in Q4 2025.

What does net debt / EBITDA mean?

How many years of operating earnings it would take to pay off the company's net debt.

How do you interpret net debt / EBITDA?

Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.

How does net debt / EBITDA compare across companies?

A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.

Boeing BA Net debt / EBITDA

Net debt / EBITDA at other companies

General DynamicsGD

1×-0.8×

Raytheon TechnologiesRTX

2.3×-1.2×

L3Harris TechnologiesLHX

2.1×-0.4×

TextronTXT

-0.7×+0.3×

Lockheed MartinLMT

2.1×+0.4×

Northrop GrummanNOC

2.3×-0.5×

Other financials

Income statement

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Revenue$22.2B+14.0%

Gross profit$2.5B+5.3%

Operating income$448.0M-2.8%

Net income-$4.0M+89.2%

EPS (diluted)-$0.11+31.3%

Balance sheet

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Cash & equivalents$9.4B-6.9%

Total equity$6.0B+280%

Total assets$164.79B+5.3%

Cash flow

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Operating cash flow-$179.0M+88.9%

CapEx$1.3B+89.2%

Free cash flow-$1.5B+36.5%

Valuation

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Market cap$177.86B+21.9%

P/E78.4×—

P/S1.9×-0.2×

Profitability

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Gross margin4.8%+3.7pp

Operating margin4.6%+2.6pp

Net margin2.5%+1.3pp

Returns & leverage

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Return on equity1,504.4%—

Debt / equity10.4×—

Current ratio1.2×-0.1×

Where this comes from

Calculated from Boeing’s reported figures.

net debt/ebitda=7.3×

Based on the most recent quarter.

The official record: Boeing’s 10-Q, filed April 22, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Boeing's net debt / EBITDA?: Boeing (BA) reported net debt / EBITDA of 7.3× in Q4 2025.
What does net debt / EBITDA mean?: How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?: Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?: A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.