The Boeing Company stock research
FY2026 Q1
The Boeing (BA) Gross Margin & Quarterly History
Explore The Boeing Company (BA) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
In the current quarter, revenue decreased compared to the prior quarter while gross profit increased, leading to an improvement in gross margin. Compared to the same quarter last year, revenue was higher but gross profit was only slightly higher, resulting in a weaker gross margin.
- The change in cost of revenue relative to revenue was the primary observable factor influencing gross margin. Cost of revenue decreased from the prior quarter but increased from the same quarter last year, outpacing revenue growth year-over-year.
- Gross margin improved compared to the prior quarter, as gross profit increased while revenue declined. However, gross margin weakened compared to the same quarter last year, as cost of revenue grew faster than revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
11.5%
Gross profit
$2.5B
Revenue
$22.2B
Cost of revenue
$19.7B
Quarter-over-quarter change
+3.9 pts
Year-over-year change
-0.9 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2025 | $22.7B | $2.4B | $20.3B | 10.7% |
| Sep 30, 2025 | $23.3B | -$2.4B | $25.6B | -10.2% |
| Dec 31, 2025 | $23.9B | $1.8B | $22.1B | 7.6% |
| Mar 31, 2026 | $22.2B | $2.5B | $19.7B | 11.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
+3.9 pts
Year-over-year change
Mar 31, 2025
-0.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The change in cost of revenue relative to revenue was the primary observable factor influencing gross margin. Cost of revenue decreased from the prior quarter but increased from the same quarter last year, outpacing revenue growth year-over-year.
Gross margin improved compared to the prior quarter, as gross profit increased while revenue declined. However, gross margin weakened compared to the same quarter last year, as cost of revenue grew faster than revenue.
Monitor the trend in cost of revenue relative to revenue, as its year-over-year increase has compressed gross margin.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| The Boeing Company (BA) | 11.5% |