- Companies
- Spirit AeroSystems
Spirit AeroSystems Acquisition & Valuation
Spirit AeroSystems was acquired by Boeing for $8.3B in July 2024, a 1.3x multiple on $6.3B of revenue.
Spirit AeroSystems revenue at acquisition
$6.3B
Last twelve months · Jul 2024
Spirit AeroSystems revenue multiple at acquisition
1.3x
EV/Revenue · Jul 2024
Spirit AeroSystems Overview
About Spirit AeroSystems
Spirit AeroSystems is an aerostructures manufacturer based in Wichita, Kansas, producing fuselages for Boeing's 737 program, major structures for the 767, 777, and 787 Dreamliner programs, and fuselages for the P-8 and KC-46 military aircraft. The company operates manufacturing facilities in Wichita, Dallas, and Tulsa in the United States, as well as Prestwick, Scotland and Belfast, Northern Ireland, employing about 15,000 people. Its defense operations, including work supporting U.S. defense programs, are organized as Spirit Defense.
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Revenue
$6.3B (Jul 2024)
Valuation
$8.3B (acquired Jul 2024)
Sectors
Spirit AeroSystems Acquisition
Spirit AeroSystems was acquired by Boeing for $8.3B on 1 July 2024.
The acquisition price implies a 1.3x revenue multiple on $6.3B of revenue.
Spirit AeroSystems, a leading aerostructures manufacturer based in Wichita, Kansas, produces fuselages for Boeing's 737 program and major structures for the 767, 777, and 787 Dreamliner programs, along with fuselages for the P-8 and KC-46, and operates facilities in Wichita, Dallas, Tulsa, Prestwick in Scotland, and Belfast in Ireland. Boeing, a major aerospace company, announced on July 1, 2024, a definitive agreement to acquire Spirit in an all-stock transaction valued at $4.7 billion equity or $8.3 billion enterprise value, equating to $37.25 per share—a 30% premium over Spirit's February 29, 2024, closing price of $28.60. The strategic rationale focuses on reintegrating Spirit to align commercial production systems, safety and quality management, engineering, and manufacturing capabilities, while improving supply chain stability, aviation safety, and continuity for U.S. defense programs; Spirit's defense operations will continue independently as Spirit Defense. The deal required Spirit to divest Airbus-related commercial work packages via a term sheet with Airbus for asset transfer, approved alongside the merger by Spirit's board and nearly 78 million shareholders in early 2025. Subject to regulatory approvals and customary conditions, the transaction closed on December 8, 2025, bringing Spirit's 15,000 employees and Boeing-related commercial, aftermarket, and defense operations under Boeing, with aftermarket aligning under Global Services and Belfast operations forming an independent subsidiary named Short Brothers. This acquisition addresses Boeing's production challenges post-737 MAX issues by internalizing its largest supplier, enhancing maintenance, repair, and overhaul capabilities, and stabilizing workforce across key U.S. sites amid ongoing financial pressures, as Spirit reported a $2.1 billion loss in 2024.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 1 Jul 2024 | Strategic M&A | $8.3B | 1.3x |
Spirit AeroSystems Competitors
Spirit AeroSystems competitors include listed companies like Aurubis, Accelleron Industries, Konecranes and Rational, and private ones like Horse Powertrain and Zhenkunxing.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $21B | $1.1B | $8.3B | 0.3x | ||
| Publicly listed | $1.3B | $342M | $8.5B | 6.1x | ||
| Publicly listed | $4.8B | $777M | $8.1B | 1.6x | ||
| Private | $8B | $885M | $7.7B | 1.0x | ||
| Publicly listed | $1.5B | $425M | $7.6B | 4.7x | ||
| Private | - | - | $1.9B | - |
Spirit AeroSystems Public Comps
Spirit AeroSystems is no longer listed, but its public comps include Aurubis, Accelleron Industries, Konecranes, Rational, Aptiv, Schaeffler, voestalpine, Shimadzu, Shenzhen Kedali Industry and Yaskawa.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $21B | $1.1B | 0.4x | 0.3x | 7.5x | 7.3x | |||
| $1.3B | $342M | 7.0x | 6.1x | 25.7x | 21.7x | |||
| $4.8B | $777M | 1.7x | 1.6x | 10.4x | 10.2x | |||
| $1.5B | $425M | 4.9x | 4.7x | 16.8x | 16.3x | |||
| $20B | $2.2B | 0.7x | 0.9x | 6.3x | 5.4x | |||
| $27B | $2.4B | 0.5x | 0.5x | 5.9x | 5.1x | |||
| $17B | $1.7B | 0.6x | 0.6x | 6.2x | 5.7x | |||
| $3.6B | $646M | 1.7x | 1.7x | 9.7x | 9.9x | |||
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Common questions about Spirit AeroSystems
| Where is Spirit AeroSystems headquartered? | Spirit AeroSystems is headquartered in United States. |
| Is Spirit AeroSystems publicly listed? | No, Spirit AeroSystems was acquired by Boeing in July 2024. |
| Who acquired Spirit AeroSystems? | Spirit AeroSystems was acquired by Boeing in July 2024. |
| How much was Spirit AeroSystems acquired for? | Spirit AeroSystems was acquired for $8.3B in July 2024, a 1.3x revenue multiple. |
| Which companies are comparable to Spirit AeroSystems? | Companies comparable to Spirit AeroSystems include Aurubis, Accelleron Industries, Konecranes, Horse Powertrain, Rational and Zhenkunxing. |
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