Boeing vs Airbus: Revenue, Profitability & Business Model Compared
Side-by-side comparison of Boeing (BA) and Airbus (EADSY). Compare revenue breakdowns, profitability, financial metrics, and aerospace business models.
Boeing vs Airbus Overview
The world’s two commercial aviation giants in a duopoly: Boeing is an American aerospace icon facing quality and production challenges, while Airbus has captured market leadership through consistent execution.
| Metric | Boeing (BA) | Airbus (EADSY) |
|---|---|---|
| Sector | Aerospace & Defense | Aerospace & Defense |
| Market Cap | $115B | $145B |
| Revenue | $77.8B | $75.9B |
| Net Income | -$11.8B | $4.2B |
How Does Boeing Make Money?
Boeing (BA) operates in the Aerospace & Defense sector with a market cap of $115B. For a full breakdown of Boeing’s revenue sources, see the Boeing revenue breakdown.
Boeing Revenue Breakdown
| Segment | FY2024 | FY2023 | YoY Growth |
|---|---|---|---|
| Commercial Airplanes | $24.9B | $33.9B | -26.5% |
| Defense, Space & Security | $24.4B | $24.9B | -2.0% |
| Global Services | $20.5B | $19.1B | +7.3% |
| Boeing Capital | $0.2B | $0.2B | +0.0% |
| Total Revenue | $77.8B | $77.8B | +0.0% |
How Does Airbus Make Money?
Airbus (EADSY) operates in the Aerospace & Defense sector with a market cap of $145B.
Airbus Revenue Breakdown
| Segment | FY2024 | FY2023 | YoY Growth |
|---|---|---|---|
| Airbus Commercial Aircraft | $56.3B | $52.8B | +6.6% |
| Airbus Helicopters | $8.1B | $7.6B | +6.6% |
| Airbus Defence and Space | $11.5B | $11.2B | +2.7% |
| Total Revenue | $75.9B | $71.6B | +6.0% |
Boeing vs Airbus Profitability
Boeing: No, Boeing is currently unprofitable. The company reported a net loss of $11.8B on total revenue of $77.8B. Boeing continues to struggle with production quality issues, regulatory scrutiny, and the aftermath of the 737 MAX crisis.
Airbus: Yes, Airbus is profitable. The company reported net income of $4.2B on total revenue of $75.9B. With an operating margin of 7.8%, Airbus demonstrates healthy profitability while ramping up production to meet record demand.
Key Financial Metrics Comparison
Boeing Key Metrics
- Gross Margin: 5.2% — Severely impacted by production problems and charges.
- Operating Margin: -10.5% — Deep losses driven by quality issues and rework.
- Commercial Deliveries: 348 — Far below Airbus and historical levels.
- Backlog: $529B — Strong orders despite execution struggles.
Airbus Key Metrics
- Gross Margin: 18.5% — Healthy margin reflecting production efficiency.
- Operating Margin: 7.8% — Solid profitability with room to expand.
- Commercial Deliveries: 766 — Record deliveries in 2024.
- Backlog: $669B — Record order book spanning many years.
Which Company is a Better Investment?
Airbus offers safer exposure to the commercial aviation recovery with consistent execution and profitability. Boeing is a higher-risk turnaround bet with significant upside if it can resolve quality issues and ramp production. Consider each company’s execution track record and the multi-year nature of aerospace investment cycles. Review the full Boeing revenue breakdown for detailed analysis.
Disclaimer: This comparison is for informational purposes only and does not constitute investment advice.