Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Boeing Co. (NYSE:BA)

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Analysis of Investments

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Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities

Boeing Co., adjustment to net earnings (loss) attributable to Boeing Shareholders

US$ in millions

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12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Net earnings (loss) attributable to Boeing Shareholders (as reported)
Add: Unrealized gain (loss) on certain investments, net of tax
Net earnings (loss) attributable to Boeing Shareholders (adjusted)

Based on: 10-K (filing date: 2021-02-01), 10-K (filing date: 2020-01-31), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08).


Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)

Boeing Co., adjusted profitability ratios

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Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Net Profit Margin
Reported net profit margin
Adjusted net profit margin
Return on Equity (ROE)
Reported ROE
Adjusted ROE
Return on Assets (ROA)
Reported ROA
Adjusted ROA

Based on: 10-K (filing date: 2021-02-01), 10-K (filing date: 2020-01-31), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08).

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Boeing Co.’s adjusted net profit margin ratio deteriorated from 2018 to 2019 and from 2019 to 2020.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. Boeing Co.’s adjusted ROA deteriorated from 2018 to 2019 and from 2019 to 2020.

Boeing Co., Profitability Ratios: Reported vs. Adjusted


Adjusted Net Profit Margin

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Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Selected Financial Data (US$ in millions)
Net earnings (loss) attributable to Boeing Shareholders
Revenues
Profitability Ratio
Net profit margin1
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net earnings (loss) attributable to Boeing Shareholders
Revenues
Profitability Ratio
Adjusted net profit margin2

Based on: 10-K (filing date: 2021-02-01), 10-K (filing date: 2020-01-31), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08).

2020 Calculations

1 Net profit margin = 100 × Net earnings (loss) attributable to Boeing Shareholders ÷ Revenues
= 100 × ÷ =

2 Adjusted net profit margin = 100 × Adjusted net earnings (loss) attributable to Boeing Shareholders ÷ Revenues
= 100 × ÷ =

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Boeing Co.’s adjusted net profit margin ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Adjusted Return on Equity (ROE)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Selected Financial Data (US$ in millions)
Net earnings (loss) attributable to Boeing Shareholders
Shareholders’ equity (deficit)
Profitability Ratio
ROE1
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net earnings (loss) attributable to Boeing Shareholders
Shareholders’ equity (deficit)
Profitability Ratio
Adjusted ROE2

Based on: 10-K (filing date: 2021-02-01), 10-K (filing date: 2020-01-31), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08).

2020 Calculations

1 ROE = 100 × Net earnings (loss) attributable to Boeing Shareholders ÷ Shareholders’ equity (deficit)
= 100 × ÷ =

2 Adjusted ROE = 100 × Adjusted net earnings (loss) attributable to Boeing Shareholders ÷ Shareholders’ equity (deficit)
= 100 × ÷ =


Adjusted Return on Assets (ROA)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Selected Financial Data (US$ in millions)
Net earnings (loss) attributable to Boeing Shareholders
Total assets
Profitability Ratio
ROA1
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net earnings (loss) attributable to Boeing Shareholders
Total assets
Profitability Ratio
Adjusted ROA2

Based on: 10-K (filing date: 2021-02-01), 10-K (filing date: 2020-01-31), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08).

2020 Calculations

1 ROA = 100 × Net earnings (loss) attributable to Boeing Shareholders ÷ Total assets
= 100 × ÷ =

2 Adjusted ROA = 100 × Adjusted net earnings (loss) attributable to Boeing Shareholders ÷ Total assets
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. Boeing Co.’s adjusted ROA deteriorated from 2018 to 2019 and from 2019 to 2020.