# Boeing Stock Q3 2026: 737-10 Certified and a $10bn Cash Flow Target
> Boeing stock Q3 2026: revenue rose 4% to $24.2bn, free cash flow was $464m, the 737-10 won certification and Boeing kept its $10bn 2029 cash target.

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## Facts
- Ticker: BA
- QSILabs fair value: $123.27 USD
- Price: $175.40 (as of 2026-11-02)
- As of: Q3 2026 results (quarter ended 2026-09-30, reported 2026-10-27) and Form 10-Q filed 2026-10-27; price as of 2026-11-02 close
- Fiscal period: Q3 2026 (July-September 2026)
- Published: 2026-11-02
- Updated: 2026-11-02
- Author: QSI Labs Research
- Canonical: https://www.quantitativesuperintelligencelabs.com/research/boeing-stock-q3-2026-earnings-737-cash-flow-target/

## Short answer
Boeing stock Q3 2026 is a story of a slow factory recovery set against a long climb to the cash flow the company has promised. In the three months to 30 September 2026, revenue rose 4% to $24,188m and Boeing made an operating profit of $354m, against a $4,781m loss a year earlier that included a charge on the 777X. Commercial Airplanes still lost $697m, but the 737-7 and 737-10 won certification, the US Navy picked Boeing for its F/A-XX fighter and free cash flow was $464m. Boeing said it expects about $2bn of free cash flow in 2026, about $3bn in 2027, about $6bn in 2028 and $10bn in 2029. Our discounted cash flow model gives $123.27 a share, against a $175.40 close on 2 November 2026; below we explain why it is lower and how far it moves when you change our assumptions.

## Key takeaways
- Revenue rose 4% to $24.2bn. Defense, Space & Security grew 15% to $7,935m and Global Services 4% to $5,574m, while Commercial Airplanes fell 3% to $10,720m on a less favourable delivery mix.
- Boeing made an operating profit. GAAP operating earnings were $354m, a 1.5% margin, against a $4,781m loss in the third quarter of 2025. The net loss narrowed to $116m, or $0.26 a share, from $5,339m.
- Airplane losses narrowed but did not end. Commercial Airplanes delivered 161 aircraft, including 124 737s and 22 787s, and lost $697m, a margin of minus 6.5%. Boeing expects that margin to reach breakeven in early 2028.
- Two certifications and a fighter. The 737-7 received amended type certification in the quarter and the 737-10 in October, and the Navy selected Boeing to design and build the F/A-XX, an order not yet in backlog.
- Cash flow targets were confirmed. Free cash flow was $464m in the quarter and minus $359m for nine months. Boeing expects about $3bn in 2027 and $10bn in 2029.
- Our value: $123.27 a share, 70% of the $175.40 close on 2 November 2026. Analysts' average target is $235.65. Our value is lower mainly because we use a 10.58% cost of capital; at the 8.73% US industry rate the same forecasts give $170.95.
- What to watch. The move to 52 737s a month in the second half of 2027, 787 output rising to 10 a month, 777X certification and first delivery in 2027, and whether 2027 cash flow reaches about $3bn.

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