The Boys season 4 ending explained: how it sets up the final season

The Boys season 4 sure packed a lot into its season finale. Previously titled ‘Assassination Run’, the Prime Video series made good on its promise with a fast-paced episode filled with political intrigue, shifting loyalties, and more than one shocking death.

So, what just went down? And how does it set up The Boys season 5? We already know the next season is the final season, and certain events here may have just clued us in on the show’s ultimate endgame. With the likes of Homelander, Neuman, and Butcher all providing big talking points here, we’ve outlined the events of The Boys season 4 finale and the ripple effects they may have down the line.

Are you ready? Join us on a blood-splattered journey through the finale – and possibly beyond. We’ll start with a recap of The Boys season 4 ending so we’re all on the same page, then dive into the juicy stuff. It’s going to be fuckin’ diabolical.

MAJOR spoilers for The Boys season 4, episode 8 follow. You have been warned!

The Boys season 4 ending explained: what happened in the finale?

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With an inauguration on the horizon and the electoral vote for a Singer/Neuman ticket being ratified, the clock is ticking on everyone’s grand plans.

‘Assassination Run’ begins with Frenchie working on the Supe-killing virus, Butcher in hospital after his collapse, and ‘Annie’ (secretly the shapeshifting Supe) proposing to Hughie.

From there, it all snowballs out of control. It begins with Homelander finding a photo of the Butchers in Ryan’s bag, which leads to him lasering the room in a rage. A quick interaction with Ryan leads the boy to flee. As we find out, he heads to see Butcher in his hospital room.

Elsewhere, the shapeshifter Annie reveals to the real (and detained) Annie about the proposal, as well as using her mind-reading abilities to lay bare her darkest fears and feelings.

During an appearance on ‘The Truthbomb with Firecracker’, Homelander reveals that Neuman is secretly a Supe. The fallout leads to President Singer calling for a new election.

In a later call, Homelander talks to Neuman, calling her a puppet and threatening her daughter Zoe. In response, Neuman turns to Hughie – the only person left she can trust – and tearfully admits she wants out and offers to resign.

Over at Vought HQ, it’s revealed that anyone who had dirt on Homelander or Vought will be killed, with Supes being summoned to the White House to protect Neuman if she becomes President. Ashley overhears this and flees, taking a vial of Compound V and turning into an abomination.

The shapeshifter is unmasked after its sweating habit tips Hughie off. In the ensuing chaos, the shapeshifter chases the President into a secure tunnel but is fought off by an escaped Annie, who seemingly kills it.

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The episode’s final act sees Hughie appeal to The Boys not to use murder as a solution for every problem. Instead, he will enlist Neuman to take down Homelander and Vought – using the now-finished Supe-killing virus as a failsafe. After a heart to heart, Frenchie and Kimiko finally kiss.

While Ryan visits Butcher, Grace arrives and tells Ryan that he is to be trained to kill his father, while also revealing that Homelander killed the people on Flight 37 and raped his mother.

The hospital is shown to be a CIA facility, complete with a killswitch if Ryan doesn’t acquiesce to Grace’s demands. Ryan kills Grace in a fit of rage and escapes.

Neuman and Zoe are brought to The Boys’ makeshift lab and appear to go along with the plans. However, Butcher shows up and kills Neuman, as well as taking the Supe-killing virus.

Singer is framed for Neuman’s murder, per Sage’s grand plan, and martial law is declared. The new President (Senator Calhoun) deputizes Homelander and Vought’s Supes to ensure the law is upheld.

The Boys hug and go their separate ways, with Neuman’s daughter being taken to the Red River care home. The Boys, though, are hunted down: MM by Love Sausage (the well-endowed Supe first seen in season 2), Starlight and Hughie by Cindy (the former metal-bending patient at Sage Grove Center), and Frenchie and Kimiko by Gen V’s Cate.

While a re-powered Starlight manages to escape, the rest are arrested. Cate even whispers something to Frenchie to brainwash him.

In The Boys season 4 post-credits scene, Homelander is taken to see Soldier Boy’s recovered (and cryogenically frozen) body.

Who died in The Boys season 4 ending?

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The list of casualties in The Boys season 4 ending is fairly extensive. Neuman is the biggest name, ripped apart by Butcher’s tendrils in a shocking moment.

Other fatalities include Grace, the shapeshifter Supe (we think, anyway), and various Vought staffers. That includes Ashley’s assistant Ashley after the new Black Noir confused the two. RIP.

Is Neuman actually dead?

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Never say never in the world of The Boys, but it sure looks that way. Neuman was pretty comprehensively ripped apart by Butcher, and we see a body. 

Of course, there is some wiggle room. Not to get all tin-foil hat with a conspiracy, but the shapeshifter Supe’s death did seem fairly anticlimactic. Bringing them in to mimic Neuman as a final gambit would have been the smart thing to do if they were still alive.

For now, wait until show creator Eric Kripke says one way or the other. Our gut feeling says Neuman is dead, however.

What happened to President Singer?

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Sage managed to outsmart everyone in the end. After Neuman’s death, she spun it so that a leaked video of Singer wishing death upon Neuman would make it seem like he ordered her assassination.

He is arrested by federal agents and is replaced as the leader of the free world by Speaker Calhoun.

What is Homelander’s new job?

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Homelander isn’t quite president of the United States of America, but he’s got basically the next best thing as Calhoun’s deputy and the one put in charge of protecting America under martial law. All Supes must now answer to him, which makes him one of the most powerful figures in the free world.

Is Butcher a villain now? And what is he planning to do next?

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Butcher blew up a lot of his goodwill in ‘Assassination Run’, killing Neuman right when it looked like The Boys might have had a chance to stop Homelander once and for all.

Now, he’s got the Supe-killing virus and Jeffrey Dean Morgan’s Kessler well and truly being the devil on his shoulder. Has he gone off the deep end? Possibly.

We suspect he will now put into place a plan that allows Homelander – and probably all Supes – to die at his hand. The clock, thanks to his tumour, is still ticking, so he’ll have to be quick.

The Boys season 5, then, will likely see Butcher positioned as a villain-of-sorts against The Boys but, ultimately, committing evil for what he thinks is the greater good. Whether it turns out that way remains to be seen.

What is Sage’s ‘Phase Two’?

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Sage very cryptically refers to a ‘Phase Two’ in her plan that has already installed Homelander as the President’s right hand man.

With martial law declared and Supes working, essentially, as judge, jury, and executioner, we shudder to think what will happen next with Sage.

Might she have an ace up her sleeve to discredit Homelander once and for all? Possibly. It doesn’t appear that she has any intentions of gaining power, admitting that she’s doing all of this because it’s ‘fun’ and just to prove she can. We imagine Sage will be pulling more strings in season 5 – we just don’t know what her end goal is.

Is Soldier Boy alive?

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It seems so. The last we saw of Soldier Boy (who, lest we forget, is Homelander’s daddy), he was badly wounded and taken into custody by Grace’s team. Now, it seems, his body has been put on ice – really hammering home the Captain America parallels – and will probably be a major part of The Boys season 5 if he’s alive and well.

Where is Ryan?

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Ryan killed Grace and… that was the last we saw of him in The Boys season 4 finale. Homelander’s son is angry, knows about his dad’s crimes, and is firmly presented as a wildcard for The Boys’ final season.

As of right now, though, his location is unknown. We suspect he’ll be moving in secret until he can strike back against Homelander.

Where is A-Train?

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Fittingly, A-Train is in the wind. The speedster Supe took out his Vought tracking chip in the penultimate episode and didn’t show up in the finale.

Still, it would be a huge surprise if A-Train didn’t return in some shape or form in the final season. After all, he is probably pretty high on Vought’s hit list and Homelander knows he has turned against him. That makes him close to public enemy number one. Expect him to help get one of MM, Frenchie, Kimiko, or Hughie (most likely the latter, given his character’s arc) out of imprisonment and back on the path to stopping Homelander for good.

What happened to Ashley?

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Ashley has always been an odd duck – but even we couldn’t predict her terrible reaction to taking Compound V.

After she injects the substance into her body, her wig falls over and she transforms into a monstrous creature. Maybe she has some superpowers, but it’s hard to tell at this early juncture.

If Ashley can get the change under control, she could be another physical force to be reckoned with in the next season of The Boys. And she won’t be on Vought’s side, either, after overhearing about the plans to silence her for good.

Who whispered something to Frenchie?

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Frenchie appears entranced – or brainwashed – after being captured in The Boys season 4 ending. The person whispering sweet nothing into his ear? It’s none other than Cate, the Gen V Supe who was brought into the fold at Vought after the events of the Gen V season 1 ending.

If she’s a chief enforcer, then surely Frenchie will be ‘working’ for Vought thanks to Cate’s powers, ones that let her control people’s thoughts.

Will Gen V season 2 be important for The Boys’ future?

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The Boys season 4 ending has transformed the world of the show, what with America now being put under martial law.

Our next peek at what that means for the Supes in this universe will come in Gen V season 2.

Speaking to Variety, creator Eric Kripke confirmed that Gen V season 2 takes place after The Boys season 4. 

As that’s the case, there will surely be more crossovers to the main show and, crucially, it will become a far more important watch for those who missed out on the first season of Gen V. Fire up your watchlists, people!

What next for The Boys?

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The Boys universe has a fairly clear roadmap: Gen V season 2 is next up, followed by The Boys season 5, which is officially the show’s last.

No release date for either project has been given, but Gen V season 2 is currently filming. We’d wager a guess at that coming out in 2025, with The Boys season 5 to follow in either late 2025 or, more than likely, 2026.

For more on The Boys, check out our complete coverage on the show below:

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