Full spoilers follow for The Boys season 4.
The Boys season 4 has officially ended – and, oh boy, did it deliver the bleakest finale in the hit Amazon show's history. From betrayals and deaths aplenty to a world where Homelander is the new US president (in all but name, anyway), season 4 episode 8 – whose official title, 'Assassination Run', was dropped by Amazon in the wake of the attempted assassination of former US president Donal Trump – delivered the goods after a season of mixed quality.
If you've just watched The Boys' 32nd episode, or simply want the lowdown on its biggest shocks without streaming it on Prime Video – hey, there are a few of you out there – I suspect you'll have plenty of questions you need answering. Well, I'm here to explain what happened, and how the finale's events set up the already announced fifth season of The Boys, plus season 2 of live-action spin-off Gen V. Full spoilers follow immediately after this paragraph, so proceed at your own risk.
Who dies in The Boys season 4's final episode?
Plenty of people – indeed, Homelander forces the rest of The Seven to kill any Vought employees, such as CEO Ashley and her assistant (humorously called Also Ashley), who won't be loyal to his 'Supe first' cause. That's not surprising, given he was betrayed by A-Train, who was responsible for leaking key Vought intel to the titular group throughout season 4.
In terms of main character deaths, though, there are two big ones: Grace Mallory and Victoria Neuman.
Grace Mallory, the former CIA deputy director who funded The Boys during one of the best Prime Video shows' first four seasons, is accidentally killed by Ryan Butcher, aka son of Homelander and Billy Butcher's deceased wife Becca. Using his superhuman strength, he pushes her into a concrete wall when she tries to stop him from leaving a safe house the dying Billy is holed up in.
Mallory initially antagonizes Ryan when she reveals, much to Billy's chagrin, the truth about Flight 37 (the plane crash Homelander allowed to happen in season 1) and that Homelander sexually assaulted his mom, which led to Ryan's conception. Billy also comes clean that Ryan is the only one capable of stopping Homelander because, you know, they have similar superpowers. This leads to an anxious Ryan trying to leave, Mallory attempting to stop him, and Ryan pushing her into the wall, which breaks her neck.
This macabre incident predictably leads to Victoria Neuman's death later in the episode. With one of his few remaining long-time allies dead at the hands of his arch-nemesis' son, Billy goes full nuclear. Spurred on by the hallucinatory devil on his shoulder in Joe Kessler (Billy's morally complex and dead bestie who was the subject of a big fan theory after season 4 episode 5 aired), Billy injects himself with Compound V, i.e. the substance that grants superpowers to anyone who takes it. This turns Billy's cancer into a horrifying, super-strong, subcutaneous tentacle monstrosity.
Rocking up at another safe house where the rest of The Boys are thrashing out some form of witness protection scheme with Neuman and her daughter Zoe, a dosed-up Billy uses his newfound abilities to hold the titular gang at bay, snuff out other threats like Neuman's bodyguards and the Suped-up Zoe, and murder Neuman by tearing her in two. His surprise attack means Neuman can't use her head-popping powers before she dies, too, if anyone was wondering why she doesn't do so.
To make matters worse, he forces the group to hand over the only vial of the Supe-killing virus left in existence. Oh, and we learn later that, like her mom, a now orphaned Zoe is sent to the Red River Institute. Hey, I did warn you this was a very grim, betrayal-filled end to season 4.
Why are The Boys arrested in the season 4 finale?
Rainbows and butterflies ahead. #TheBoysFinale pic.twitter.com/e9R3okR6o7July 18, 2024
If you thought that was as hopeless as things get before the end credits roll, you're sorely mistaken. With Victoria Neuman dead, Homelander thinks his grand plan to effectively become the new US president lies in tatters. That isn't the case, though, as Sister Sage surprisingly returns – remember, she was fired by Homelander after episode 6's events – to tell him that, a few curveballs aside, this was all part of her masterplan.
So, what is said plan? President-elect Robert Singer, who had named Neuman as his vice-president, is arrested after Sage leaks footage from the presidential bunker that shows him berating The Boys for not assassinating Neuman as he requested. Senator Calhoun is announced as the new US president – a puppet president, mind you, as Homelander is pulling the strings off-camera – after the 25th amendment is invoked.
As his first act, Calhoun declares martial law and drafts in hundreds of Supes nationwide as new, hard-line law enforcers who'll report directly to Homelander. Not only that, but Homelander also falsely accuses The Boys and "deep state Starlighters embedded in our own government" of killing Neuman, thereby leading his new "army of superheroes" to hunt them down. Understandably, The Boys (sans Billy) part ways and attempt to hide until things settle down.
Man literal CHILLS watching this part😭 #Theboys #TheBoysFinale pic.twitter.com/rzGPDcXKfFJuly 18, 2024
It doesn't take long for The Boys to be caught, though. With Homelander's legion of Supes scouring the US, they're quickly located and apprehended. Cindy, who hasn't been seen since season 2, catches Hughie and Annie January/Starlight, but the latter flies off (her powers having returned moments before Cindy's attack) when Hughie instructs her to save herself. Meanwhile, Mother's Milk (M.M.) is taken prisoner by Love Sausage and his gun-toting entourage.
Lastly, Kimiko and Frenchie are found by Cate and Sam, the two High School Supes who defected to join Homelander in the Gen V season 1 finale. Cate uses her telepathic abilities to hypnotize Frenchie and lead him away, while Sam uses his super-strength to subdue mute Kimiko who, in a heightened emotional state, shockingly screams "No!" over and again; this being the first time we've ever heard Kimiko speak in the show.
Billy somehow stays under the radar, even though he's driving down a highway that you'd expect a Supe or two to be policing. Expect this love-to-hate character to be the only one who's now capable of stopping Homelander and company from tyrannically ruling the US and, potentially, the entire world.
Does Ashley take Compound V? And what powers does she get?
She does, but we don't know what abilities she's acquired. As I mentioned earlier, Ashley is one of the individuals on Homelander's list that The Seven need to dispose of, which she learns about by eavesdropping on the group's conversation. Predictably, this sends her into a panic and makes her realize that leaving with A-Train in episode 7 wouldn't have been such a bad idea.
But I digress. In her terror-induced state, Ashley heads to Homelander's living quarters to acquire some Compound V. Remember, she knows there are extra syringes in his apartment because she found A-Train stealing some for Hughie in episode 4. So, Ashley self-administers some but, before we learn what power she now possesses (or how hideously disfigured she's potentially become after taking it), the scene ends. Clearly, we'll get a big reveal at some point in season 5.
Is there a mid- or post-credits scene in The Boys season 4?
Yes, there's a mid-credits scene and it teases the likely return of a fan-favorite character from The Boys season 3.
The clip shows Homelander and Calhoun walking into a restricted, underground area, with Homelander asking Calhoun, "How long have you known?", to which the latter responds "Only since this morning's classified briefing... you were my first call". As they step into a dimly lit room, Homelander says "You've got to be f*****g kidding me". The camera pans down to reveal Jensen Ackles' Soldier Boy, who's still in cryosleep after being placed in said cryo-chamber in The Boys season 3 finale.
It's unclear what role (if any) Soldier Boy, who's not only Homelander's father but also fought his offspring in season 3's finale episode, will play in The Boys season 5. Will Homelander decide that, as Soldier Boy is – currently, at least – the only Supe who can stop him, he needs to be killed? Or will he try to convince Soldier Boy to join his cause and oversee a new era where Supes reign supreme? Only time will tell.
How does The Boys season 4 set up Gen V season 2?
The Boys season 5 is on the way, but it'll be preceded by Gen V season 2, which is currently in development for Prime Video, aka one of the world's best streaming services.
The spin-off series' next entry will be heavily impacted by what went down in the main show's fourth season, too. In my view, Gen V season 2's plot can go in one of two directions. The first could see the imprisoned teen Supes conscripted – no doubt against their will – into Homelander's Supe army, which might force them to do some dirty work before they potentially rebel and lead an uprising against their superiors. Alternatively, they might remain incarcerated and even be joined by members of The Boys, which would be a fun way to team the likes of Hughie, Kimiko, and M.M. with Marie and company ahead of the main show's final season.
When will The Boys season 5 be released on Prime Video?
We don't know. It was only announced as the main series' final chapter in mid-May and, while some work will have begun on its scripts, it'll be a while before filming starts on The Boys season 5.
If I had to guess, I'd be very surprised to see it on Amazon's primary streaming platform before early 2026. Work needs to be completed on the aforementioned Gen V season 2 ahead of its likely 2025 arrival, and only then will we have a clearer picture of a) how its story will affect The Boys season 5 and b) when principal photography will commence on the latter.
We might learn more about either or both of these points at The Boys season 4's San Diego Comic-Con panel, which takes place on Friday, July 26 at 10am PT / 3pm ET / 6pm BST (NB: Australian readers can tune in on Saturday, July 27 at 3am AEST). Until then, we've no idea when season 5 will debut.
