Valuentum Exclusive Analysis for the Discerning Investor

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Nov 19, 2020

Boeing’s Financials Are Absolutely Frightening
The reality is that Boeing’s financials are still pretty scary. During the first nine months of 2020, the company burned through an incredible $15.4 billion in free cash flow, even as it cut capital spending by a few hundred million. As of the end of the third quarter of 2020, its total consolidated debt now stands at $61 billion, with total cash and marketable securities of $27.1 billion. This compares to total consolidated debt of $24.7 billion and total cash and marketable securities of $10.9 billion, as of the end of the third quarter of 2019. The grounding of the 737 MAX and the outbreak of COVID-19 have combined to be an absolute wrecking ball to Boeing’s financials, and it may take a very, very long time before things start looking better on the books. S&P, Moody’s and Fitch still give the company investment-grade credit ratings (BBB-/Baa2/BBB-), but we’re not sure the aerospace giant deserves them. Here’s what Fitch noted October 2020: “…many of the company's quantitative rating factors will be inconsistent with the 'BBB' category for three years (2019-2021) and into 2022.” It’s probably fair to say that Boeing’s debt should be rated junk, but that would cause some severe reverberations in the credit markets, in our view.

Aug 16, 2019

Dividend Increases/Decreases for the Week Ending August 16
Let's take a look at companies that raised/lowered their dividend this week.

Aug 17, 2018

Dividend Increases/Decreases for the Week Ending August 17
Let's take a look at companies that raised/lowered their dividend this week.

Aug 13, 2017

Dividend Increases/Decreases for the Week Ending August 11
Let's take a look at companies raising/lowering their dividends this week.

Aug 14, 2016

Dividend Increases/Decreases for the Week Ending August 12
Let's take a look at companies raising/lowering their dividends this week.

Aug 18, 2014

Dividend Increases/Decreases for the Week Ending August 15
Let's take a look at dividend increases/decreases for the week ending August 15.