Total Asset Turnover
since 2005
Calculation
Boeing Co., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 0.53 | = | 89,463) | ÷ | 168,235) |
| Dec 31, 2024 | 0.43 | = | 66,517) | ÷ | 156,363) |
| Dec 31, 2023 | 0.57 | = | 77,794) | ÷ | 137,012) |
| Dec 31, 2022 | 0.49 | = | 66,608) | ÷ | 137,100) |
| Dec 31, 2021 | 0.45 | = | 62,286) | ÷ | 138,552) |
| Dec 31, 2020 | 0.38 | = | 58,158) | ÷ | 152,136) |
| Dec 31, 2019 | 0.57 | = | 76,559) | ÷ | 133,625) |
| Dec 31, 2018 | 0.86 | = | 101,127) | ÷ | 117,359) |
| Dec 31, 2017 | 1.01 | = | 93,392) | ÷ | 92,333) |
| Dec 31, 2016 | 1.05 | = | 94,571) | ÷ | 89,997) |
| Dec 31, 2015 | 1.02 | = | 96,114) | ÷ | 94,408) |
| Dec 31, 2014 | 0.91 | = | 90,762) | ÷ | 99,198) |
| Dec 31, 2013 | 0.93 | = | 86,623) | ÷ | 92,663) |
| Dec 31, 2012 | 0.92 | = | 81,698) | ÷ | 88,896) |
| Dec 31, 2011 | 0.86 | = | 68,735) | ÷ | 79,986) |
| Dec 31, 2010 | 0.94 | = | 64,306) | ÷ | 68,565) |
| Dec 31, 2009 | 1.10 | = | 68,281) | ÷ | 62,053) |
| Dec 31, 2008 | 1.13 | = | 60,909) | ÷ | 53,779) |
| Dec 31, 2007 | 1.13 | = | 66,387) | ÷ | 58,986) |
| Dec 31, 2006 | 1.19 | = | 61,530) | ÷ | 51,794) |
| Dec 31, 2005 | 0.91 | = | 54,845) | ÷ | 60,058) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The total asset turnover ratio for the period examined demonstrates considerable fluctuation. Initially, the ratio exhibited an upward trend, followed by a period of relative stability, and then a significant decline in recent years.
- Initial Trend (2005-2006)
- From 2005 to 2006, the total asset turnover ratio increased notably, moving from 0.91 to 1.19. This suggests a more efficient utilization of assets to generate revenue during this period.
- Period of Stability (2006-2011)
- Following the initial increase, the ratio experienced a period of relative stability, fluctuating between 0.86 and 1.19. While not consistently increasing, the ratio remained within a relatively narrow range, indicating a consistent, though not improving, level of asset utilization.
- Recent Decline (2018-2025)
- Beginning in 2018, a marked downward trend is observed. The ratio decreased from 0.86 to 0.53 by 2025. This decline accelerated significantly in 2019 and 2020, dropping to 0.57 and 0.38 respectively, before a slight recovery to 0.45 and 0.49 in the subsequent years. The most recent value, 0.53, indicates a substantial decrease in the efficiency with which assets are being used to generate sales compared to earlier periods.
- Correlation with Revenue
- The decline in the total asset turnover ratio appears to correlate with fluctuations in revenue. While revenue increased through 2019, the subsequent decrease in revenue in 2020 and 2021 coincides with the most significant drops in the ratio. The partial revenue recovery in 2022-2025 does not fully translate into a corresponding improvement in asset turnover, suggesting other factors may be influencing asset utilization.
- Long-Term Perspective
- Comparing the beginning and end of the examined period, the ratio has decreased from 0.91 in 2005 to 0.53 in 2025. This represents a considerable reduction in asset efficiency over the two decades, warranting further investigation into the underlying causes.
Comparison to Competitors
Boeing Co., total asset turnover, long-term trends, comparison to competitors
| Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 0.53 | — | — | 0.33 | — | 1.25 | — |
| Dec 31, 2024 | 0.43 | 0.70 | 0.65 | 0.29 | 0.51 | 1.28 | 0.50 |
| Dec 31, 2023 | 0.57 | 0.73 | 0.60 | 0.40 | 0.60 | 1.29 | 0.43 |
| Dec 31, 2022 | 0.49 | 0.69 | 0.59 | 0.39 | 0.57 | 1.25 | 0.42 |
| Dec 31, 2021 | 0.45 | 0.58 | 0.58 | 0.36 | 0.53 | 1.32 | 0.40 |
| Dec 31, 2020 | 0.38 | 0.50 | 0.56 | 0.29 | 0.51 | 1.29 | 0.35 |
| Dec 31, 2019 | 0.57 | 0.65 | 0.65 | 0.33 | 0.63 | 1.26 | 0.55 |
| Dec 31, 2018 | 0.86 | 0.66 | 0.70 | 0.37 | 0.72 | 1.20 | 0.50 |
| Dec 31, 2017 | 1.01 | 0.55 | 0.63 | 0.30 | 0.68 | 1.10 | 0.62 |
| Dec 31, 2016 | 1.05 | 0.48 | 0.65 | 0.30 | 0.73 | 0.99 | 0.64 |
| Dec 31, 2015 | 1.02 | 0.56 | 0.67 | 0.21 | 0.78 | 0.94 | 0.64 |
| Dec 31, 2014 | 0.91 | 0.62 | 0.67 | 0.16 | 0.89 | 1.23 | 0.71 |
| Dec 31, 2013 | 0.93 | 0.62 | 0.62 | 0.15 | 0.86 | 1.25 | 0.69 |
| Dec 31, 2012 | 0.92 | 0.71 | 0.46 | 0.15 | 0.90 | 1.22 | 0.65 |
| Dec 31, 2011 | 0.86 | 0.70 | 0.90 | 0.13 | 0.92 | 1.23 | 0.95 |
| Dec 31, 2010 | 0.94 | 0.62 | 0.79 | 0.13 | 0.88 | 1.31 | 0.93 |
| Dec 31, 2009 | 1.10 | 0.49 | 0.73 | 0.13 | 0.86 | 1.29 | 0.94 |
| Dec 31, 2008 | 1.13 | 0.71 | 0.92 | 0.14 | 1.03 | 1.28 | 1.03 |
| Dec 31, 2007 | 1.13 | 0.75 | 0.97 | 0.13 | 1.02 | 1.45 | 0.99 |
| Dec 31, 2006 | 1.19 | 0.76 | 1.08 | 0.14 | 1.01 | 1.40 | 1.00 |
| Dec 31, 2005 | 0.91 | 0.72 | 1.09 | 0.14 | 0.86 | 1.34 | 0.92 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
Boeing Co., total asset turnover, long-term trends, comparison to sector (capital goods)
| Boeing Co. | Capital Goods | |
|---|---|---|
| Dec 31, 2025 | 0.53 | — |
| Dec 31, 2024 | 0.43 | 0.54 |
| Dec 31, 2023 | 0.57 | 0.57 |
| Dec 31, 2022 | 0.49 | 0.54 |
| Dec 31, 2021 | 0.45 | 0.50 |
| Dec 31, 2020 | 0.38 | 0.43 |
| Dec 31, 2019 | 0.57 | 0.54 |
| Dec 31, 2018 | 0.86 | 0.58 |
| Dec 31, 2017 | 1.01 | 0.54 |
| Dec 31, 2016 | 1.05 | 0.54 |
| Dec 31, 2015 | 1.02 | 0.46 |
| Dec 31, 2014 | 0.91 | 0.41 |
| Dec 31, 2013 | 0.93 | 0.39 |
| Dec 31, 2012 | 0.92 | 0.38 |
| Dec 31, 2011 | 0.86 | 0.36 |
| Dec 31, 2010 | 0.94 | 0.34 |
| Dec 31, 2009 | 1.10 | 0.33 |
| Dec 31, 2008 | 1.13 | 0.35 |
| Dec 31, 2007 | 1.13 | 0.34 |
| Dec 31, 2006 | 1.19 | 0.36 |
| Dec 31, 2005 | 0.91 | 0.33 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
Boeing Co., total asset turnover, long-term trends, comparison to industry (industrials)
| Boeing Co. | Industrials | |
|---|---|---|
| Dec 31, 2025 | 0.53 | — |
| Dec 31, 2024 | 0.43 | 0.65 |
| Dec 31, 2023 | 0.57 | 0.67 |
| Dec 31, 2022 | 0.49 | 0.66 |
| Dec 31, 2021 | 0.45 | 0.58 |
| Dec 31, 2020 | 0.38 | 0.50 |
| Dec 31, 2019 | 0.57 | 0.62 |
| Dec 31, 2018 | 0.86 | 0.67 |
| Dec 31, 2017 | 1.01 | 0.62 |
| Dec 31, 2016 | 1.05 | 0.61 |
| Dec 31, 2015 | 1.02 | 0.54 |
| Dec 31, 2014 | 0.91 | 0.49 |
| Dec 31, 2013 | 0.93 | 0.47 |
| Dec 31, 2012 | 0.92 | 0.46 |
| Dec 31, 2011 | 0.86 | 0.45 |
| Dec 31, 2010 | 0.94 | 0.41 |
| Dec 31, 2009 | 1.10 | 0.39 |
| Dec 31, 2008 | 1.13 | 0.43 |
| Dec 31, 2007 | 1.13 | 0.41 |
| Dec 31, 2006 | 1.19 | 0.43 |
| Dec 31, 2005 | 0.91 | 0.40 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).