Stock Analysis on Net

Boeing Co. (NYSE:BA)

Common Stock Valuation Ratios (Price Multiples)

Microsoft Excel

Current Valuation Ratios

Boeing Co., current price multiples

Microsoft Excel
Boeing Co. Caterpillar Inc. Cummins Inc. General Electric Co. Honeywell International Inc. Lockheed Martin Corp. RTX Corp. Capital Goods Industrials
Selected Financial Data
Current share price (P) $192.99
No. shares of common stock outstanding 610,135,205
 
Earnings per share (EPS) $-3.64
Operating profit per share $-1.27
Sales per share $127.50
Book value per share (BVPS) $-28.24
Valuation Ratios (Price Multiples)
Price to sales (P/S) 1.51 2.87 1.23 2.96 3.65 1.63 1.88 2.19 2.16

Based on: 10-K (reporting date: 2023-12-31).

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


Historical Valuation Ratios (Summary)

Boeing Co., historical price multiples

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Price to earnings (P/E)
Price to operating profit (P/OP)
Price to sales (P/S) 1.66 1.90 1.87 1.96 2.34
Price to book value (P/BV)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Valuation 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. P/S ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Price to Earnings (P/E)

Boeing Co., historical P/E calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 610,135,205 598,239,585 582,999,765 582,996,860 563,152,208
Selected Financial Data (US$)
Net loss attributable to Boeing Shareholders (in millions) (2,222) (4,935) (4,202) (11,873) (636)
Earnings per share (EPS)2 -3.64 -8.25 -7.21 -20.37 -1.13
Share price1, 3 211.04 211.17 200.24 195.84 318.27
Valuation Ratio
P/E ratio4
Benchmarks
P/E Ratio, Competitors5
Caterpillar Inc. 15.55 19.15 16.82 36.80 12.36
Cummins Inc. 49.57 16.33 14.94 20.23 10.92
General Electric Co. 16.18 19.67
Honeywell International Inc. 22.73 26.97 23.14 29.63 20.97
Lockheed Martin Corp. 15.35 20.48 16.70 13.44 19.87
RTX Corp. 38.31 27.59 36.79 24.41
P/E Ratio, Sector
Capital Goods 24.60 39.14 55.30 113.37 38.18
P/E Ratio, Industry
Industrials 25.47 35.70 32.59 151.48 48.27

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
EPS = Net loss attributable to Boeing Shareholders ÷ No. shares of common stock outstanding
= -2,222,000,000 ÷ 610,135,205 = -3.64

3 Closing price as at the filing date of Boeing Co. Annual Report.

4 2023 Calculation
P/E ratio = Share price ÷ EPS
= 211.04 ÷ -3.64 =

5 Click competitor name to see calculations.


Price to Operating Profit (P/OP)

Boeing Co., historical P/OP calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 610,135,205 598,239,585 582,999,765 582,996,860 563,152,208
Selected Financial Data (US$)
Loss from operations (in millions) (773) (3,547) (2,902) (12,767) (1,975)
Operating profit per share2 -1.27 -5.93 -4.98 -21.90 -3.51
Share price1, 3 211.04 211.17 200.24 195.84 318.27
Valuation Ratio
P/OP ratio4
Benchmarks
P/OP Ratio, Competitors5
Caterpillar Inc. 12.40 16.25 15.87 24.23 9.08
Cummins Inc. 20.69 11.99 11.76 15.95 9.14
General Electric Co. 27.11 19.88 17.46 25.64 9.22
Honeywell International Inc. 18.15 20.84 20.68 24.86 18.81
Lockheed Martin Corp. 12.49 14.06 11.56 10.63 14.49
RTX Corp. 34.37 26.48 28.68 15.07
P/OP Ratio, Sector
Capital Goods 21.56 24.21 22.38 67.23 17.27
P/OP Ratio, Industry
Industrials 21.38 19.84 21.37 47.82 19.18

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
Operating profit per share = Loss from operations ÷ No. shares of common stock outstanding
= -773,000,000 ÷ 610,135,205 = -1.27

3 Closing price as at the filing date of Boeing Co. Annual Report.

4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 211.04 ÷ -1.27 =

5 Click competitor name to see calculations.


Price to Sales (P/S)

Boeing Co., historical P/S calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 610,135,205 598,239,585 582,999,765 582,996,860 563,152,208
Selected Financial Data (US$)
Revenues (in millions) 77,794 66,608 62,286 58,158 76,559
Sales per share2 127.50 111.34 106.84 99.76 135.95
Share price1, 3 211.04 211.17 200.24 195.84 318.27
Valuation Ratio
P/S ratio4 1.66 1.90 1.87 1.96 2.34
Benchmarks
P/S Ratio, Competitors5
Caterpillar Inc. 2.52 2.27 2.26 2.83 1.48
Cummins Inc. 1.07 1.25 1.33 1.83 1.05
General Electric Co. 2.30 1.20 1.50 1.41 1.18
Honeywell International Inc. 3.51 3.78 3.73 4.34 3.51
Lockheed Martin Corp. 1.57 1.78 1.57 1.40 2.07
RTX Corp. 1.78 2.14 2.21 1.95 1.75
P/S Ratio, Sector
Capital Goods 2.01 1.97 1.99 2.05 1.87
P/S Ratio, Industry
Industrials 2.05 1.83 2.07 2.13 1.84

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
Sales per share = Revenues ÷ No. shares of common stock outstanding
= 77,794,000,000 ÷ 610,135,205 = 127.50

3 Closing price as at the filing date of Boeing Co. Annual Report.

4 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 211.04 ÷ 127.50 = 1.66

5 Click competitor name to see calculations.

Valuation 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. P/S ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Price to Book Value (P/BV)

Boeing Co., historical P/BV calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 610,135,205 598,239,585 582,999,765 582,996,860 563,152,208
Selected Financial Data (US$)
Shareholders’ deficit (in millions) (17,233) (15,883) (14,999) (18,316) (8,617)
Book value per share (BVPS)2 -28.24 -26.55 -25.73 -31.42 -15.30
Share price1, 3 211.04 211.17 200.24 195.84 318.27
Valuation Ratio
P/BV ratio4
Benchmarks
P/BV Ratio, Competitors5
Caterpillar Inc. 8.25 8.09 6.62 7.20 5.16
Cummins Inc. 4.12 3.91 3.76 4.49 3.29
General Electric Co. 5.43 2.43 2.64 2.89 3.66
Honeywell International Inc. 8.11 8.02 6.91 8.07 6.97
Lockheed Martin Corp. 15.54 12.67 9.62 15.27 39.60
RTX Corp. 2.05 1.97 1.95 1.53 3.24
P/BV Ratio, Sector
Capital Goods 6.88 5.37 4.84 5.19 7.33
P/BV Ratio, Industry
Industrials 7.06 5.66 5.56 6.11 6.88

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
BVPS = Shareholders’ deficit ÷ No. shares of common stock outstanding
= -17,233,000,000 ÷ 610,135,205 = -28.24

3 Closing price as at the filing date of Boeing Co. Annual Report.

4 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 211.04 ÷ -28.24 =

5 Click competitor name to see calculations.