The Boys Season 5 Finale: Who Will Survive, How It Will End, and Who the Real Villain Is

The premiere of the final season of The Boys — one of the most important events not only of spring 2026, but of the TV world in general. Back in the day, the project made a huge splash and is now approaching its conclusion at its peak. No 15-season stretch: the story of all key characters has been almost fully told. Naturally, after the trailers dropped, many began crafting theories about the finale. I’m familiar with all of them. It also became очевидous that the ending of the series and the original comic will differ significantly, so relying on the source material is pointless. We decided to approach the question differently and waited for the first two episodes before throwing around predictions. As it turns out, not in vain — most “leaked plots” and theories fell apart right from the start. Now it’s time to genuinely speculate on what the real ending of The Boys will be, who survives, and why the main villain might surprise you. All the details — below.

First of all, I want to note that much of what you’re about to read is my personal opinion. You can argue with it or disagree. However, I’ll try to justify each point based solely on previous seasons, narrative logic, and the first two episodes, which have slightly lifted the veil over the finale. And yes, there will be plenty of spoilers — keep that in mind.

Let’s briefly go over the setup for the fifth season. Homelander has officially become the ruler of the United States. Thanks to the calculated work of Sister Sage — the smartest woman on the planet — the unhinged supe is no longer constrained by anything. The leader of the supes was already cruel, but now he’s aiming for a whole new level. If that still sounds like child’s play to you, check out our list The Most Brutal and Bloody Games on PC and Consoles — Top Picks Not for the Faint of Heart. Most of The Boys have been captured and sent to re-education camps, which have now spread across the country. Only Butcher, Kimiko, and Starlight — who has become the leader of the resistance — managed to escape. A year passes after these events.

Butcher, by the way, has acquired supernatural strength, but the tumor inside him made him more aggressive than usual and caused hallucinations. His condition was also steadily worsening, which clearly hinted at time limits for the upcoming finale. Annie (Starlight), meanwhile, connected with the young heroes from the spin-off Gen V, recruiting them into her army of dissenters. This is important, because that’s where we were introduced to Marie Moreau, a girl who controls blood and is, in fact, far more powerful than Homelander himself. She can not only heal any disease but also take away powers — which would be strange not to use in the final chapter. Many believed, myself included, that Marie would cure Butcher and even challenge the breast milk enthusiast.

Another key variable is Ryan — the son of the “anti-Superman,” who in the Season 4 finale had already taken a few steps toward the dark side before disappearing from both Billy’s and Homelander’s radar.

In Gen V, we learned about a virus secretly developed within the walls of a university for future “heroes,” capable of killing any superhuman. Butcher couldn’t ignore that, and a significant portion of Season 4 was dedicated to it. In Season 5, the virus remains the Boys’ main trump card against the entire Seven and their leader. However, Homelander is already aware of such a powerful weapon and takes it very seriously.

At this point, it’s worth recalling what happened in the comics. When Homelander seized the White House, Billy — also driven insane after taking Compound V — comes to settle the score with his longtime enemy. However, it turns out that Black Noir — the character with a fully covered face — is actually a clone of the local Superman. He was created as a counterbalance to Homelander, but went further than intended. Many of the crimes attributed to the “antagonist” were actually committed by the clone. Homelander himself believed he was suffering from memory lapses. In the end, both Noir and Homelander die, after which Butcher kills almost all members of his own team. The surviving Hughie then kills Billy himself and finally starts a new life with Annie. Overall, many comic story arcs are much simpler than in the series. For example, Butcher lacks the same level of depth. The show can confidently be called a remake of the original. And if you want to learn about other remakes — this time of games — check out Best Game Remakes and Remasters on PC and Consoles (Resident Evil 4, Dead Space, FF7 and More).

In the series, Noir was executed long ago. Now he’s portrayed by a completely different supe, so the storyline described above won’t happen. Or will it? The show has followed the comics before, just in a different form — so why not conclude the story in a similar way?

From the trailers, we already know that Ryan will definitely appear in the show. And Homelander will indeed take the Oval Office. Feeling the resemblance? Ryan could very well take Noir’s place, destroying both his father and himself in battle. But that’s just one of the theories we’ll explore next.

By now, most predictions have already fallen apart. For instance, Marie does not cure Billy of his illness. It seems the creators simply brushed aside Butcher’s critical condition. He’s once again full of energy and активно uses his abilities. No hallucinations, and he even interacts with the team in a noticeably softer way.

Another sign that the writers decided to quietly shift focus is a different change. Remember that odd storyline with Frenchie in Season 4? If you watched it, you know exactly what I mean. The character spent three seasons developing a relationship with Kimiko, only to suddenly turn out to have broader tastes. It looked so awkward and unnatural that the creators were immediately accused of pandering to minority activists, which is completely out of character for The Boys. Practically from the start of Season 5, Frenchie and Kimiko define their relationship clearly. This is now the show’s new couple, enjoying each other’s company so intensely that one of them is practically doomed.

Characters from Gen V are barely mentioned — just a single line — but I still don’t believe they’ll be forgotten entirely. From the beginning, the spin-off was positioned as an important part of the overall story; watching it separately from The Boys never made much sense. The appearance of Marie Moreau and her active role in fighting Homelander feels like a logical conclusion to her arc. However, it now seems unlikely that she’ll save Butcher. He’s doing just fine as he is. It’s far more likely that Marie will be sent to fight Ryan or other supes while the main characters decide the fate of the world.

The trailers also featured a scene where Homelander brutally beats someone. Clearly not a human — and it takes effort, as he’s visibly exhausted. Most assumed it was A-Train, who had already switched sides to Annie, but no. A-Train’s fate is sealed right from the beginning. He fully completes his redemption arc and closes it almost the same way it began in the very first episode. The character has completely transformed, so his ending feels natural — but it happens in a much more mundane way. No special effort required.

There are several candidates for that beating. First, Butcher himself. He’s immune to обычное human weapons, so it would take time to bring him down. However, Billy is unlikely to just stand there and take it. Then there’s Ryan. Internet detectives have already noticed a hint of regret in the leader of the Seven’s expression. A father-son battle sounds like a solid narrative choice, but Ryan is objectively younger and weaker than his extravagant father.

According to numerous leaks, Queen Maeve was supposed to return in the final season. She had already opposed John (Homelander’s real name) but disappeared from the spotlight in previous seasons. Supposedly, Maeve would leak the infamous plane video meant to destabilize Vought. Nothing even close happens. Annie already has the video and leaks it herself, quite easily. Sister Sage quickly neutralizes the situation by blaming neural networks. In the end, this plot point carries little importance.

That wraps up the breakdown of old theories. If The Boys hasn’t really worked for you, don’t worry — we’ve got alternatives. Check out our selection TOP-9 best superhero games based on Marvel comics: Spider-Man, Deadpool, Wolverine and others — you’ll definitely find something interesting there. Now, let’s move on to discussing the possible real ending, why it might unfold this way, and who the true villain actually is.

By now, it seems obvious to everyone that Billy Butcher’s fate is sealed. At the very beginning of Season 5, he cold-bloodedly kills his father, and the improvement in his condition points to only one thing — Billy has fully succumbed to the parasite внутри him. That’s the only way to explain his complete control over the tentacles. The leader of The Boys sacrificed everything to gain the power to oppose John, including his humanity.

Butcher will end his journey either exactly like in the comics or very close to it. There’s something poetic and logical about Hughie being the one to stop what his former ally has become. And yes, Butcher will likely kill some members of his own team. Whether it’s Annie, Mother’s Milk, Frenchie, or Kimiko — hard to say for now. But Hughie will definitely survive, just like in the original.

Homelander will die well before the final episode. It’s already clear what direction the upcoming episodes will take. The virus didn’t kill Soldier Boy, which means there’s a category of supes who are immune to it. Most likely, this is connected to V-1. The compound was mentioned in the trailers and was administered to the very first "test-tube" heroes — including Soldier Boy. Among other things, it granted either immortality or an extremely long lifespan. Homelander will try to obtain V-1 from his biological father’s blood or by other means, hoping to protect himself from Butcher’s weapon.

What’s still unclear is why Homelander will fail. Perhaps the compound will "burn out" Marie from him, but we simply don’t know enough yet. One thing is certain — Homelander hasn’t been the biggest problem for quite some time. The Boys just haven’t realized it yet, but it will soon become clear that John, for all his power, is once again nothing more than a puppet.

Interestingly, Annie’s character has changed significantly. She now often takes a more hardline stance similar to Butcher’s, something Hughie directly points out. I think a large part of her final arc will revolve around an internal conflict: does Starlight even have the right to a happy life if her resistance dies while she survives? Hughie will likely serve as her anchor to normality, while Billy pushes her toward the abyss.

In the first episodes, the heroes face a clear problem — the virus would kill not only the Seven but also Annie and Kimiko. No one wants that, even though the girls seem ready to sacrifice themselves. Starlight especially. Once the truth about Soldier Boy becomes known, there will be no point in releasing the virus on a mass scale.

Jared Padalecki is highly anticipated by fans. According to some leaks, he will play Marathon — the first speedster in the Seven. The actor himself has confirmed he won’t appear before Episode 5. It’s вполне possible that his cameo will be tied to the search for V-1. This suggests that the situation won’t change dramatically until mid-season: neither Homelander nor Soldier Boy will die before then.

Ashley — Vought’s red-haired manager — took Compound V in Season 4 and gained powers. Her new abilities are… unusual. More importantly, she’s seriously reconsidering her choices. It wouldn’t be surprising if she ends up taking Maeve’s place, switching sides to the Boys. As for Maeve herself, I wouldn’t expect her return. Her story is more or less complete. Yes, she’s still powerful, but it would be strange to skip so many events only to reappear at the end. The audience no longer connects with her the way they did in Season 1. Perhaps the creators will still give her a final send-off, but right now Ashley seems like a far more promising candidate for the role of Vought’s traitor.

According to some theories, Hughie and Annie might adopt Ryan. It sounds convincing, but in the trailers the boy looks quite grown up — as he does in real life. He’s taller, more mature. Emotionally, adopting someone that grown and dangerous feels odd. Personally, I’m betting that something happens to Ryan and he doesn’t make it to the finale. A battle with his father feels inevitable. If the connection between John and Ryan hadn’t been broken, I’d lean more toward the boy becoming pure evil. But the first episodes show that Homelander has practically forgotten about his son and even forbids others from mentioning his name. In that case, Ryan will either become a hero or an antihero who redeems himself through a powerful sacrifice.

One small moment in the first two episodes caught my attention. When The Deep discusses Homelander’s orders with Noir, the "Not-Batman" suddenly behaves oddly. The Deep knows the new Noir can speak and addresses him directly, yet Noir ignores him just like the original did. This suggests that Noir’s storyline might still play a role, albeit in a different form. He shouldn’t be written off just yet.

The true main villain of the entire show will be Sister Sage. Yes, she’s a Black woman, but this would allow the creators to recover from the muddled fourth season and prove once again that they don’t really care about modern trends. Sage has already demonstrated in Gen V that she operates according to her own plans, which John may not even be aware of. She’s the smartest person on the planet and can absolutely predict where Homelander’s rule is heading. If she was prepared for the plane video leak, then John’s death at the hands of the Boys won’t surprise her either.

An opponent like that is genuinely difficult to defeat, and that will be the real challenge for the Boys. Before, they answered force with force. Now they’ll need to rely on cunning and ingenuity. Every encounter with Sage has ended in defeat. It may stray from the comics, but it will definitely be impressive. Even in the early episodes, Sage openly says she enjoys power and the fact that white men obey her. In essence, that’s no different from Homelander’s thirst for control — except Sage operates from the shadows, where she’s untouchable.

That’s how I see The Boys finale. The season started surprisingly strong, so there’s hope the quality bar will rise. Ideally, the story will still manage to surprise us — and if not, at least it won’t disappoint. Share your theories in the comments — let’s discuss. And it’s worth noting that 2026 still has plenty of major premieres ahead. If you don’t want to miss them, check out our TOP-30 Most Anticipated Movies and TV Shows of 2026.