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Boeing Co. (BA)

Debt to Equity
since 2005

Difficulty: Beginner

Calculation
Comparison to Competitors
Comparison to Sector (Aerospace & Defense)
Comparison to Industry (Industrials)

Calculation

Boeing Co., debt to equity, long-term trends, calculation

	Debt to Equity	=	Total debt¹	÷	Shareholders’ equity¹
Dec 31, 2018	40.85	=	13,847	÷	339
Dec 31, 2017	31.32	=	11,117	÷	355
Dec 31, 2016	12.18	=	9,952	÷	817
Dec 31, 2015	1.57	=	9,964	÷	6,335
Dec 31, 2014	1.05	=	9,070	÷	8,665
Dec 31, 2013	0.65	=	9,635	÷	14,875
Dec 31, 2012	1.77	=	10,409	÷	5,867
Dec 31, 2011	3.52	=	12,371	÷	3,515
Dec 31, 2010	4.49	=	12,421	÷	2,766
Dec 31, 2009	6.07	=	12,924	÷	2,128
Dec 31, 2008	—	=	7,512	÷	(1,294)
Dec 31, 2007	0.91	=	8,217	÷	9,004
Dec 31, 2006	2.01	=	9,538	÷	4,739
Dec 31, 2005	0.97	=	10,727	÷	11,059

Based on: 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-12), 10-K (filing date: 2014-02-14), 10-K (filing date: 2013-02-11), 10-K (filing date: 2012-02-09), 10-K (filing date: 2011-02-09), 10-K (filing date: 2010-02-08), 10-K (filing date: 2009-02-09), 10-K (filing date: 2008-02-15), 10-K (filing date: 2007-02-16), 10-K (filing date: 2006-02-28).

¹ USD $ in millions

Comparison to Competitors

Boeing Co., debt to equity, long-term trends, comparison to competitors

	Boeing Co.	General Dynamics Corp.	Lockheed Martin Corp.	Northrop Grumman Corp.	Raytheon Co.	United Technologies Corp.
Dec 31, 2018	40.85	1.06	10.12	1.76	0.00	1.18
Dec 31, 2017	31.32	0.35	—	2.17	0.51	0.93
Dec 31, 2016	12.18	0.35	9.45	1.34	0.53	0.87
Dec 31, 2015	1.57	0.32	4.93	1.18	0.53	0.75
Dec 31, 2014	1.05	0.33	1.81	0.82	0.56	0.63
Dec 31, 2013	0.65	0.27	1.25	0.56	0.43	0.64
Dec 31, 2012	1.77	0.34	161.74	0.41	0.59	0.90
Dec 31, 2011	3.52	0.30	6.45	0.38	0.56	0.47
Dec 31, 2010	4.49	0.24	1.35	0.36	0.37	0.48
Dec 31, 2009	6.07	0.31	1.22	0.34	0.24	0.49
Dec 31, 2008	—	0.40	1.33	0.33	0.25	0.72
Dec 31, 2007	0.91	0.24	0.45	0.23	0.18	0.43
Dec 31, 2006	2.01	0.28	0.64	0.24	0.36	0.46
Dec 31, 2005	0.97	0.40	0.63	0.30	0.42	0.48

Based on: 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-12), 10-K (filing date: 2014-02-14), 10-K (filing date: 2013-02-11), 10-K (filing date: 2012-02-09), 10-K (filing date: 2011-02-09), 10-K (filing date: 2010-02-08), 10-K (filing date: 2009-02-09), 10-K (filing date: 2008-02-15), 10-K (filing date: 2007-02-16), 10-K (filing date: 2006-02-28).

Comparison to Sector (Aerospace & Defense)

Boeing Co., debt to equity, long-term trends, comparison to sector (Aerospace & Defense)

	Boeing Co.	Aerospace & Defense
Dec 31, 2018	40.85	1.40
Dec 31, 2017	31.32	1.34
Dec 31, 2016	12.18	1.15
Dec 31, 2015	1.57	0.96
Dec 31, 2014	1.05	0.70
Dec 31, 2013	0.65	0.58
Dec 31, 2012	1.77	0.86
Dec 31, 2011	3.52	0.71
Dec 31, 2010	4.49	0.61
Dec 31, 2009	6.07	0.62
Dec 31, 2008	—	0.68
Dec 31, 2007	0.91	0.38
Dec 31, 2006	2.01	0.49
Dec 31, 2005	0.97	0.51

Based on: 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-12), 10-K (filing date: 2014-02-14), 10-K (filing date: 2013-02-11), 10-K (filing date: 2012-02-09), 10-K (filing date: 2011-02-09), 10-K (filing date: 2010-02-08), 10-K (filing date: 2009-02-09), 10-K (filing date: 2008-02-15), 10-K (filing date: 2007-02-16), 10-K (filing date: 2006-02-28).

Comparison to Industry (Industrials)

Boeing Co., debt to equity, long-term trends, comparison to industry (Industrials)

	Boeing Co.	Industrials
Dec 31, 2018	40.85	1.49
Dec 31, 2017	31.32	1.36
Dec 31, 2016	12.18	1.31
Dec 31, 2015	1.57	1.30
Dec 31, 2014	1.05	1.50
Dec 31, 2013	0.65	1.39
Dec 31, 2012	1.77	1.72
Dec 31, 2011	3.52	1.90
Dec 31, 2010	4.49	1.94
Dec 31, 2009	6.07	2.17
Dec 31, 2008	—	2.53
Dec 31, 2007	0.91	2.01
Dec 31, 2006	2.01	1.83
Dec 31, 2005	0.97	1.63

Based on: 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-12), 10-K (filing date: 2014-02-14), 10-K (filing date: 2013-02-11), 10-K (filing date: 2012-02-09), 10-K (filing date: 2011-02-09), 10-K (filing date: 2010-02-08), 10-K (filing date: 2009-02-09), 10-K (filing date: 2008-02-15), 10-K (filing date: 2007-02-16), 10-K (filing date: 2006-02-28).