Boeing Co. (BA) | Valuation Ratios

Current Valuation Ratios

Boeing Co., current price multiples

	Boeing Co.	Industrials
Selected Financial Data
Current share price (P)	$ 99.75
No. shares of common stock outstanding	756,165,531
Growth rate (g)	63.12%

Earnings per share (EPS)	$ 5.16
Next year expected EPS	$ 8.41
Operating profit per share	$ 8.35
Sales per share	$ 108.04
Book value per share (BVPS)	$ 7.76
Ratios (Price Multiples)
Price to earnings (P/E)	19.34	18.67
Price to next year expected earnings	11.86	16.95
Price-earnings-growth (PEG)	0.31	1.84
Price to operating profit (P/OP)	11.95	14.25
Price to sales (P/S)	0.92	1.63
Price to book value (P/BV)	12.86	3.32

If company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.

Otherwise, if company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.

Boeing Co., historical price multiples

	Dec 31, 2012	Dec 31, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008
Price to earnings (P/E)	14.71	14.09	16.17	33.40	11.63
Price to operating profit (P/OP)	9.09	9.69	10.76	20.91	7.87
Price to sales (P/S)	0.70	0.82	0.83	0.64	0.51
Price to book value (P/BV)	9.78	16.10	19.33	20.59	–

Ratio	Description	The company
P/E ratio	The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings.	Boeing Co.'s P/E ratio declined from 2010 to 2011 but then slightly increased from 2011 to 2012.
P/OP ratio	Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit.	Boeing Co.'s P/OP ratio declined from 2010 to 2011 and from 2011 to 2012.
P/S ratio	An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative.	Boeing Co.'s P/S ratio declined from 2010 to 2011 and from 2011 to 2012.
P/BV ratio	The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company's required rate of return and its actual rate of return.	Boeing Co.'s P/BV ratio declined from 2010 to 2011 and from 2011 to 2012.

	Dec 31, 2012	Dec 31, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008
No. shares of common stock outstanding¹	756,165,531	745,720,763	736,295,504	756,976,242	726,127,813
Selected Financial Data (USD $)
Net earnings attributable to parent (in millions)	3,900	4,018	3,307	1,312	2,672
Earnings per share (EPS)	5.16	5.39	4.49	1.73	3.68
Share price^1, 2	75.87	75.90	72.63	57.89	42.80
P/E Ratio, Comparison to Industry
Boeing Co.	14.71	14.09	16.17	33.40	11.63
Industry, Industrials	17.43	15.03	18.85	18.75	8.52

¹ Data adjusted for splits and stock dividends.
² Close price on the filing date of Boeing Co.'s Annual Report.

Ratio	Description	The company
P/E ratio	The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings.	Boeing Co.'s P/E ratio declined from 2010 to 2011 but then slightly increased from 2011 to 2012.

	Dec 31, 2012	Dec 31, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008
No. shares of common stock outstanding¹	756,165,531	745,720,763	736,295,504	756,976,242	726,127,813
Selected Financial Data (USD $)
Earnings from operations (in millions)	6,311	5,844	4,971	2,096	3,950
Operating profit per share	8.35	7.84	6.75	2.77	5.44
Share price^1, 2	75.87	75.90	72.63	57.89	42.80
P/OP Ratio, Comparison to Industry
Boeing Co.	9.09	9.69	10.76	20.91	7.87
Industry, Industrials	13.30	11.87	13.21	12.22	7.31

¹ Data adjusted for splits and stock dividends.
² Close price on the filing date of Boeing Co.'s Annual Report.

Ratio	Description	The company
P/OP ratio	Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit.	Boeing Co.'s P/OP ratio declined from 2010 to 2011 and from 2011 to 2012.

	Dec 31, 2012	Dec 31, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008
No. shares of common stock outstanding¹	756,165,531	745,720,763	736,295,504	756,976,242	726,127,813
Selected Financial Data (USD $)
Revenues (in millions)	81,698	68,735	64,306	68,281	60,909
Sales per share	108.04	92.17	87.34	90.20	83.88
Share price^1, 2	75.87	75.90	72.63	57.89	42.80
P/S Ratio, Comparison to Industry
Boeing Co.	0.70	0.82	0.83	0.64	0.51
Industry, Industrials	1.52	1.48	1.61	1.27	0.79

¹ Data adjusted for splits and stock dividends.
² Close price on the filing date of Boeing Co.'s Annual Report.

Ratio	Description	The company
P/S ratio	An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative.	Boeing Co.'s P/S ratio declined from 2010 to 2011 and from 2011 to 2012.

	Dec 31, 2012	Dec 31, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008
No. shares of common stock outstanding¹	756,165,531	745,720,763	736,295,504	756,976,242	726,127,813
Selected Financial Data (USD $)
Shareholders’ equity (in millions)	5,867	3,515	2,766	2,128	(1,294)
Book value per share (BVPS)	7.76	4.71	3.76	2.81	-1.78
Share price^1, 2	75.87	75.90	72.63	57.89	42.80
P/BV Ratio, Comparison to Industry
Boeing Co.	9.78	16.10	19.33	20.59	–
Industry, Industrials	3.10	3.06	3.18	2.60	2.03

¹ Data adjusted for splits and stock dividends.
² Close price on the filing date of Boeing Co.'s Annual Report.

Ratio	Description	The company
P/BV ratio	The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company's required rate of return and its actual rate of return.	Boeing Co.'s P/BV ratio declined from 2010 to 2011 and from 2011 to 2012.