Stock Analysis on Net
Stock Analysis on Net

Boeing Co. (NYSE:BA)

$24.99

Total Asset Turnover
since 2005

Microsoft Excel

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Calculation

Boeing Co., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Revenues1 ÷ Total assets1
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Based on: 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 financial data over the periods indicates several notable trends in key metrics. Revenues exhibit an overall upward trajectory from 2005 to 2018, with some fluctuations. Starting at US$54,845 million in 2005, revenues increased steadily to a peak of US$101,127 million in 2018, signaling robust growth. However, after 2018, revenues declined sharply in 2019 and 2020, dropping to US$58,158 million in 2020. A partial recovery occurred in subsequent years, reaching US$77,794 million in 2023 before decreasing again to US$66,517 million in 2024.

Total assets demonstrate a consistent upward trend from 2005 through 2024. Beginning at US$60,058 million in 2005, assets grew with some volatility, reaching a significant high of US$156,363 million in 2024. This steady increase suggests ongoing investment or accumulation of resources over the period, with a notable acceleration in asset base size from 2013 onward.

The total asset turnover ratio, reflecting the efficiency of asset utilization in generating revenues, shows variability that appears inversely related to total assets growth. The ratio started at 0.91 in 2005, peaked at 1.19 in 2006, and then generally declined over time. From 2014 onwards, the ratio decreased sharply, falling from 0.86 in 2018 to just 0.38 by 2020, indicating decreased efficiency in asset usage during this period. Although there is some recovery in later years, the ratio remains substantially lower than in the earlier years, ending at 0.43 in 2024.

In summary, the data suggests that while revenues grew strongly until 2018, followed by a steep decline likely due to external factors, total assets have increased steadily, reflecting expansion or asset accumulation. However, the worsening asset turnover ratio implies that asset utilization efficiency has deteriorated over time, especially during the revenue decline years, indicating potential operational or market challenges affecting the company’s ability to generate sales from its asset base efficiently.

Revenues
Show steady growth from 2005 to 2018, peak in 2018 at US$101,127 million.
Marked decline in 2019 and 2020, followed by partial recovery and secondary decline by 2024.
Total Assets
Continuous increase overall, from US$60,058 million in 2005 to US$156,363 million in 2024.
Significant asset base expansion notably after 2013.
Total Asset Turnover
Highest efficiency in early years, peaking at 1.19 in 2006.
Progressive decline in ratio, reaching a low point in 2020 at 0.38, slight recovery thereafter but remaining low.
Indicates reduced effectiveness in generating sales with existing assets, particularly during periods of revenue decline.

Comparison to Competitors

Boeing Co., total asset turnover, long-term trends, comparison to competitors

Microsoft Excel
Boeing Co. Caterpillar Inc. Eaton Corp. plc GE Aerospace Honeywell International Inc. Lockheed Martin Corp. RTX Corp.
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Based on: 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)

Microsoft Excel
Boeing Co. Capital Goods
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Based on: 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)

Microsoft Excel
Boeing Co. Industrials
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Based on: 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).