Boeing Stock Today: Defense Mega‑Deals, Dubai Airshow Orders and Airbus Chaos Shape BA’s Outlook (Nov. 30, 2025)

Boeing’s share price is hovering around $189 on November 30, 2025, after a choppy month in which the stock slid roughly 11% over 30 days but remains more than 20% higher than a year ago. ^[1]

Investors in Boeing Company (NYSE: BA) are trying to make sense of a very 2025 kind of contradiction:

record‑sized defense contracts and a $38 billion widebody order from Emirates,
ongoing losses and a gigantic 777X charge,
a NASA downgrade of the Starliner space program,
and sector‑wide turbulence thanks to Airbus grounding 6,000 A320s over a software issue. ^[2]

Here’s what’s moving Boeing stock as of November 30, 2025, and how these storylines fit together for BA shareholders.

Boeing stock price today and recent performance

Multiple data providers show BA trading at about $189 per share on November 30, 2025, with intraday moves around that level. ^[3]

Looking at the trend rather than the minute‑by‑minute wiggles:

Over the past 30 days, BA has fallen about 11.5%, reflecting post‑earnings disappointment and macro jitters. ^[4]
Over 12 months, the stock is still up roughly 21–22%, part of a multi‑year attempt to claw back from the 737 MAX and pandemic era. ^[5]

So BA is neither in full‑on rally mode nor in meltdown. It’s more like a coiled spring: big news on either the safety/regulatory side or the order/production side can move it quickly.

Q3 2025: revenue surges, profits still stuck in the red

Boeing’s third‑quarter 2025 earnings, released on October 29, are still the reference point for how Wall Street is valuing the stock. ^[6]

Key numbers from Boeing’s own release and follow‑up analysis: ^[7]

Revenue:
- $23.3 billion, up about 30% year‑on‑year, beating analyst expectations around $21.9 billion.
Bottom line:
- GAAP loss per share:–$7.14
- Core (non‑GAAP) loss per share:–$7.47, worse than consensus, mainly due to a $4.9 billion pre‑tax charge on the 777X program.
Cash flow:
- Operating cash flow:+$1.1 billion
- Free cash flow:+$0.2 billion (positive, but not exactly champagne territory).
Backlog:
- Total backlog of about $636 billion, including over 5,900 commercial airplanes.

Zacks notes that despite the revenue beat, the deeper‑than‑expected loss and cautious guidance led to downward estimate revisions; BA currently carries a Zacks Rank #4 (Sell), signaling below‑average expected near‑term returns even as the long‑term growth story remains intact. ^[8]

In short: top line is healing, but the income statement is still haunted by older programs and delayed aircraft.

Commercial airplanes: recovering deliveries, higher 737 MAX output

Operationally, Boeing’s commercial unit is gradually crawling back toward normal.

In Q3: ^[9]

160 commercial jets delivered in the quarter, up 38% from a year earlier.
737 program:
- Stabilized at 38 aircraft per month in the quarter.
- In October, the FAA approved an increase to 42 MAX jets per month, easing a cap imposed after the January 2024 Alaska Airlines 737 MAX 9 emergency. ^[10]
787 program:
- Running near 7 per month, with Boeing expanding its South Carolina facilities to support production of the Dreamliner. ^[11]

Reuters reports that Boeing delivered 53 jets in October, bringing 2025 year‑to‑date deliveries to 493 jets, and logged 782 net orders for the first 10 months of the year. Airbus still leads deliveries (585 through October), but Boeing is on track for its highest annual delivery total since 2018. ^[12]

Strong demand for the 787 Dreamliner stands out: 320 orders for the type this year, the second‑highest total in the model’s history. ^[13]

For anyone modeling BA, the logic is simple: more planes out the door at higher, regulator‑approved rates = more cash flow. The open question is whether Boeing can increase output without triggering fresh quality or safety problems.

Defense and space: multi‑billion Pentagon contracts and Egypt showcase

KC‑46A tankers and Apache helicopters

The past week has been very good to Boeing’s defense business. The Pentagon and U.S. services lined up a string of orders worth well over $7 billion: ^[14]

The U.S. Air Force awarded Boeing a $2.47 billion “Lot 12” contract for 15 additional KC‑46A Pegasus aerial refueling tankers.
The U.S. Army approved a $4.7+ billion foreign military sales contract for AH‑64E Apache attack helicopters, including a massive 96‑helicopter order from Poland, the largest non‑U.S. Apache order to date.

These deals:

Lock in years of high‑margin defense production across Boeing’s Everett (KC‑46A) and Mesa (Apache) facilities. ^[15]
Help diversify Boeing’s cash flows away from the more volatile commercial jet cycle.

Presence at Egypt Defence Expo (EDEX 2025)

On November 30, 2025, Boeing is also formally showcasing its defense portfolio at the Egypt Defence Expo (EDEX 2025) in Cairo as a Silver Sponsor, emphasizing partnerships with the Egyptian Armed Forces and broader regional customers. ^[16]

Symbolically, that’s exactly the kind of messaging investors want to see: steady government work, long‑term contracts, and a seat at the table in high‑growth defense regions.

Dubai Airshow 2025: Emirates’ $38B vote of confidence in 777X

The other giant green checkmark for Boeing this month came from Dubai Airshow 2025.

On November 17, Emirates – the world’s largest international airline – ordered 65 additional 777‑9 jets, a deal valued at about $38 billion at list prices. ^[17]

Key details: ^[18]

This raises Emirates’ total 777X family orders to 270 aircraft, and its total Boeing widebody backlog (777X + 777Fs + 787s) to 315 aircraft.
The agreement supports a feasibility study for a larger 777‑10 variant, and Emirates has flexibility to convert some orders between 777‑9, 777‑10 and 777‑8.
Deliveries are now expected from Q2 2027, aligning with Boeing’s updated 777X certification timeline.

For Boeing, this does two things:

It reinforces the business case for the 777X even after the company took a $4.9 billion charge and pushed first delivery to 2027. ^[19]
It signals that major long‑haul carriers still trust Boeing’s widebody roadmap, despite a painful decade of delays and redesigns.

Not every Middle Eastern airline stuck with Boeing, though: flydubai, historically an all‑Boeing operator, announced a 150‑plane Airbus A321neo deal, even as it signed an MoU for 75 more Boeing 737 MAX aircraft. That split underscores how fiercely contested the narrow‑body market remains. ^[20]

Space setback: NASA trims Starliner missions and contract value

On the bad‑news side of the ledger, NASA has formally cut back its ambitions for Boeing’s Starliner crew capsule.

A NASA contract modification announced November 24: ^[21]

Reduces Starliner’s post‑certification missions from six to four (up to three crewed flights and one uncrewed flight).
Slashes the contract value by about $768 million, from $4.5 billion to roughly $3.73 billion.
Specifies that the next flight to the ISS will be uncrewed, after the troubled 2024 crewed test left astronauts Butch Wilmore and Suni Williams stranded on the station for about nine months due to thruster issues.

NASA is essentially saying: “We still need a second commercial crew provider alongside SpaceX, but we’re not betting as heavily on Starliner as we used to.”

For investors, Starliner was never the main valuation driver, but the episode reinforces two themes:

Engineering and quality issues still have real financial consequences.
Boeing’s space franchise is losing ground to SpaceX in prestige and future opportunity.

Legal overhang: judge signs off on dropping Boeing’s criminal case

Another major 2025 story: the long‑running criminal case tied to the two fatal 737 MAX crashes has reached a controversial end point.

On November 7, U.S. District Judge Reed O’Connor approved the Justice Department’s decision to dismiss a criminal fraud charge against Boeing, honoring a non‑prosecution agreement that replaced an earlier plan for Boeing to plead guilty. ^[22]

Under the revised deal, Boeing: ^[23]

Pays an additional $444.5 million into a victims’ compensation fund.
Accepts a new $243.6 million fine.
Commits more than $455 million to strengthen compliance, safety and quality programs.

O’Connor called Boeing’s past conduct potentially the “deadliest corporate crime in U.S. history” and criticized the agreement as offering too little accountability, but said he lacked legal authority to reject it. Victims’ families plan to appeal.

From a stock‑market angle, though, the decision removes the tail‑risk of a criminal conviction that might have complicated Boeing’s access to lucrative government contracts and financing. The reputational scar remains; the existential legal threat is smaller.

Sector shock: Airbus A320 mega‑recall changes the backdrop

While Boeing wrestles with its own safety legacy, rival Airbus just triggered one of the largest recalls in aviation history.

On November 28, Airbus ordered immediate repairs on about 6,000 A320‑family jets after discovering that solar radiation can corrupt flight‑control software, causing uncommanded altitude changes. ^[24]

Highlights from Reuters and technical explainers: ^[25]

Roughly half of the global A320 fleet is affected.
Most jets will be fixed by reverting to earlier software, a process taking a couple of hours, but around 1,000 older aircraft require hardware changes, implying weeks of downtime.
Airlines from American and Delta to Lufthansa, IndiGo and Avianca have warned of widespread flight delays and cancellations during peak holiday travel.

This isn’t a Boeing victory lap – regulators will scrutinize everyone harder when something like this happens. But it does slightly rebalance the narrative: for several years, Boeing has been the symbol of safety failure; now Airbus is under its own harsh spotlight.

For BA’s stock, the recall may have indirect effects:

Airlines juggling grounded A320s may re‑examine fleet diversification.
The industry’s shared challenges keep demand for new, more reliable jets high – something both Airbus and Boeing badly want to monetize.

How analysts and valuation models see Boeing stock

Analyst and quant opinions on BA right now are… delightfully contradictory.

Street ratings skew bullish

QuiverQuant tracks 13 Wall Street firms with Buy‑type ratings on Boeing and zero with Sell ratings, including recent upgrades or reiterated optimism from UBS, JPMorgan, RBC, Bernstein, Susquehanna and Vertical Research over the last few months. ^[26]

MarketBeat similarly reports that Boeing holds an average recommendation of “Moderate Buy” based on recent brokerage research coverage. ^[27]

The bull case here is familiar:

Enormous backlog (~$636B). ^[28]
Gradually improving cash flow as 737 and 787 output climbs. ^[29]
New defense contracts and widebody orders extending revenue visibility into the 2030s. ^[30]

Quant screens and fundamentals are much harsher

On the other hand:

Zacks assigns BA a Rank #4 (Sell) thanks to downward earnings estimate revisions, despite a strong growth score. ^[31]
GuruFocus flags a string of red lights:
- Operating margin around –10%, net margin about –12%.
- A forward P/E near 87x, implying a lot of optimism baked into the price.
- An Altman Z‑Score of ~1.2, in the so‑called “distress zone,” indicating a still‑fragile balance sheet. ^[32]

Boeing itself reports $23 billion in cash and marketable securities versus about $53.4 billion of consolidated debt, so the company is liquid but highly levered – the classic “must execute flawlessly for several years” setup. ^[33]

So you’ve got humans (analysts) saying “Buy, huge backlog, industry duopoly,” while models mutter “Low margins, high leverage, do not mess this up.”

Key risks Boeing investors are watching

From an investor’s risk checklist, a few items are front and center:

Program execution risk
- The 777X now targets first delivery in 2027; any additional slip could require more charges and annoy flagship customers like Emirates. ^[34]
- Certification of the 737‑7 and 737‑10 still has to run a regulatory gauntlet, with the FAA in no mood to be lenient. ^[35]
Safety and regulatory risk
- The MAX and Alaska Airlines 2024 incident are still fresh in regulators’ minds; the FAA only just allowed a modest production increase to 42 jets/month. ^[36]
- The Starliner downgrade shows NASA’s tolerance for delays and technical issues is limited. ^[37]
Financial leverage
- Debt remains very high; Boeing’s own numbers plus external analytics show a company that cannot afford another systemic crisis in the near term. ^[38]
Competitive dynamics
- Airbus still leads in narrow‑body orders and deliveries, and flydubai’s big A321neo deal proves that long‑time Boeing customers are willing to hedge. ^[39]

The bottom line for BA on November 30, 2025

As of November 30, 2025, Boeing stock sits at a crossroads:

Bullish forces:
- A record backlog, higher production rates,
- Multi‑billion‑dollar defense contracts,
- A flagship Emirates 777X order,
- and signs that Boeing is slowly stabilizing operations and cash flow. ^[40]
Bearish forces:
- Deep GAAP losses,
- Heavy debt,
- Continued program and safety setbacks (Starliner, 777X),
- and valuation metrics that assume a pretty heroic recovery. ^[41]

Between those poles, BA has effectively become a leveraged macro bet on:

Global air travel staying strong,
Defense budgets remaining elevated, and
Boeing’s ability to execute without another major safety or quality scandal.

If those three trends cooperate, today’s stumbles may look like the messy middle of a long recovery. If they don’t, that hefty backlog and the stock’s 12‑month gains won’t be much of a cushion.

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