Boeing Co. (NYSE:BA)

Return on Assets (ROA)

The Return on Assets (ROA) demonstrates a fluctuating yet predominantly negative trend over the displayed quarterly periods. Initially, ROA was -7.85% at the end of Q1 2021 and saw gradual improvement toward the end of 2021, reaching a peak of -3.03% in Q4 2021.

During 2022, the ROA values displayed volatility, oscillating between -3.6% and -6.14%, indicating inconsistent performance in asset utilization to generate profit. The first quarter of 2023 again showed some improvement (-3.03%), followed by a gradual but mild downtrend through the next two quarters, ending the third quarter of 2023 at -2.11%.

In the final quarter of 2023 and into early 2024, ROA improved slightly to around -1.6%, suggesting a temporary enhancement in asset efficiency. However, the latter quarters of 2024 registered a noticeable decline, with ROA dropping sharply to -5.79% by Q3 and further continuing this downward trajectory into 2025.

By the third quarter of 2025, ROA remained weak, around -6.57%, indicating that asset returns have deteriorated again and the company struggles to generate positive returns on its assets consistently over these periods.

Overall, ROA's pattern indicates cyclical fluctuations with brief improvements but a generally negative return profile, reflecting challenges in profitable asset use across the analyzed timeframe.

Financial Leverage

Data for financial leverage is unavailable, preventing analysis of the company’s use of debt or equity financing and its impact on returns.

Return on Equity (ROE)

Return on Equity data is missing, thus no assessment can be made regarding the company’s profitability relative to shareholder equity over the periods examined.

The net profit margin exhibited a fluctuating but overall improving trend from the first quarter of 2021 through 2024, followed by a decline starting in late 2024 through 2025. Initially, there was a significant negative margin of -20.87% in March 2021, which progressively improved to a low negative margin near -2.81% by the first quarter of 2024. This suggests a gradual recovery in profitability over these years. However, from mid-2024 onward, the margin declined again, reaching -12.2% by the third quarter of 2025, indicating renewed pressure on profitability or increased costs during this period.

Asset turnover showed a general upward trajectory from 2021 through early 2024, increasing from 0.38 to a peak near 0.57. This reflects enhanced efficiency in using assets to generate revenue during that time frame. After early 2024, the asset turnover ratio experienced some variability but largely remained within a range of 0.43 to 0.54 through 2025. Despite some fluctuations, this suggests a moderately sustained level of asset utilization efficiency.

Data for financial leverage and return on equity (ROE) are missing, which limits a more comprehensive assessment of the company's capital structure or shareholder returns over the periods analyzed.

Summary of Observations

- Net profit margin improved significantly from early 2021 until early 2024 but deteriorated afterward through 2025.

- Asset turnover generally increased, peaking in early 2024 before experiencing moderate fluctuations, indicating relatively stable asset efficiency.

- Absence of financial leverage and ROE data restricts deeper analysis of risk and return dynamics.

Overall, the financial data indicate a phase of recovery and improved operational efficiency until early 2024, followed by a period of declining profitability and somewhat unstable asset efficiency through 2025. Further insights would require data on leverage and equity returns.

The analyzed data reveals several key financial trends over the specified periods. The EBIT Margin, a profitability indicator, exhibits significant fluctuations. Initially, in early 2021, the margin was deeply negative, indicating operating losses, with a low of approximately -19.29%. Over time, there is a general trend of improvement, reaching positive territory around late 2023 and early 2024, with a peak slightly above 0.6%. However, this improvement is short-lived, as the margin declines again in subsequent quarters, falling back into negative values near -14.24% by mid-2025.

Asset Turnover, which measures the efficiency of using assets to generate revenue, shows a steady upward trajectory throughout the periods. Starting from 0.38 in the first quarter of 2021, it gradually increases to about 0.57 in early 2024, indicating improving operational efficiency. Although there is a slight dip in some later quarters, the overall trend remains positive, ending at approximately 0.54 by mid-2025.

The Interest Burden ratio data is sparse, but the available figures from late 2023 to early 2024 indicate significant negative values around -4.19 and -3.64. Such negative interest burden ratios may reflect unusual or one-time financial expenses or accounting items impacting operational profitability in these periods.

Other key ratios including Tax Burden, Financial Leverage, and Return on Equity (ROE) are not populated, limiting the ability to assess tax impacts, leverage effects, or shareholder returns comprehensively.

EBIT Margin

Shows initial severe losses with a recovery trend into positive values around late 2023, followed by renewed decline through mid-2025.

Asset Turnover

Consistently improves over time, indicating better use of assets for revenue generation, with a peak near 0.57 in early 2024.

Interest Burden

Data is incomplete but shows substantial negative figures in quality later periods, suggesting atypical interest expenses or financial costs.

Unavailable Metrics

Tax Burden, Financial Leverage, and Return on Equity data are absent, constraining full financial analysis.

In summary, the company demonstrates a mixed operational performance with improving asset efficiency but struggles to sustain profitability as reflected in the volatile EBIT Margin. The negative interest burden values could signify important financial challenges or accounting peculiarities during certain quarters. The absence of several key ratios limits a comprehensive evaluation of financial leverage and shareholder returns.

The financial data reveals several important trends across the analyzed periods in key performance indicators related to profitability, efficiency, and asset utilization.

Net Profit Margin

The net profit margin shows a consistently negative trend throughout the given timeline, indicating sustained losses. Initially, the margin started at a very low -20.87% and improved somewhat during 2021, narrowing losses to about -6.75% by the end of that year. However, fluctuations followed, with some easing in early 2023 to around -2.86%, suggesting some improvement in profitability. Despite this, the margin deteriorates again significantly starting mid-2024, reaching approximately -12.20% by the earliest data points in 2025. This pattern suggests ongoing challenges in generating profit relative to revenue, with periods of minor recovery overshadowed by recurrent declines.

Asset Turnover

The asset turnover ratio demonstrates a positive general trend, indicating improving efficiency in terms of asset utilization. Beginning at 0.38 in early 2021, the ratio steadily climbs to about 0.57 by the first half of 2024, reflecting enhanced revenue generation per unit of asset base. This improvement is particularly notable given the concurrent struggles with profitability. The ratio then experiences some volatility later in 2024 and 2025, declining to 0.43 before rebounding again to 0.54, indicating fluctuations but a generally higher level of operational efficiency compared to the start of the period.

Return on Assets (ROA)

The return on assets mirrors the profitability challenges seen in the net profit margin, with consistently negative values throughout the time series. Beginning around -7.85% in early 2021, ROA improves gradually through 2023, reaching a less negative figure of approximately -1.60%, which suggests better asset profitability. However, similar to the net margin, ROA worsens again starting in mid-2024, declining back to around -6.57% by early 2025. This cyclical pattern indicates difficulties converting asset investments into positive net income despite demonstrated gains in asset utilization efficiency.

Overall, the data indicates a scenario where the company is managing to increase operational efficiency as seen through the asset turnover improvements, yet continues to face significant and persistent profitability issues. The negative margins and ROA reflect ongoing financial strain, potentially from high costs, operational challenges, or market conditions impacting net earnings. The patterns suggest a need for further strategic measures to enhance profitability alongside maintaining or improving asset use efficiency.

EBIT Margin Trend

The EBIT margin exhibited a fluctuating and generally negative trend over the examined periods. Starting at -19.29% in March 2021, it showed some improvement, reaching near break-even at 0.61% in December 2023. However, this positive trend was not sustained; the margin declined again in subsequent quarters, reaching -14.24% by June 2025. This indicates continued operational challenges impacting earnings before interest and taxes, with occasional periods of modest recovery.

Asset Turnover Dynamics

Asset turnover demonstrated a gradual upward trend, reflecting improved efficiency in generating revenue from assets. Beginning at 0.38 in the first quarter of 2021, this ratio increased steadily to peak around 0.57 between December 2023 and June 2024. A slight dip followed, but asset turnover remained above 0.40 thereafter, ending at 0.54 by September 2025. This pattern suggests better usage of assets to drive sales over the medium term.

Return on Assets (ROA) Development

The return on assets showed a predominantly negative figure throughout, signaling unprofitable use of assets. Initially at -7.85% in March 2021, ROA improved somewhat to around -1.6% by December 2023, indicating a reduction in losses relative to asset base. Nonetheless, the ratio deteriorated again afterward, worsening back to approximately -7.36% by September 2025. This reflects ongoing difficulties in translating asset utilization into positive returns.

Interest Burden Observation

Interest burden data were mostly unavailable until 2023, where large negative ratios appeared (-4.19 and -3.64), suggesting heavy interest expenses relative to earnings. This likely exerted significant pressure on profitability during these periods, which is consistent with the weakness observed in EBIT margin and ROA.

Overall Financial Performance Insights

The data depict a challenging operational and financial environment with persistent losses before interest and taxes and low profitability on assets. Despite improvements in asset efficiency evident from rising asset turnover, overall returns remain negative and volatile. High interest burden in recent quarters compounds these challenges. The intermittent recovery phases may indicate efforts to improve efficiency and cost management, but sustaining profitability has remained elusive up to the latest period observed.

The financial performance exhibits several notable trends across the periods under review. Both profitability margins show persistent negative values, indicating ongoing challenges to generating positive earnings.

EBIT Margin

The EBIT margin, which measures operating profitability, starts at -19.29% and shows an overall improvement trend through 2021 and early 2023, reaching positive territory briefly at 0.61% and 0.67% in the first half of 2023. However, this improvement is short-lived, as the margin deteriorates again in subsequent quarters, dropping to -7.55% by the end of 2023 and further declining to -14.24% and -12.81% in 2024 before slightly improving to -8.57% by the third quarter of 2025. This suggests intermittent operational challenges and fluctuating cost controls or revenue pressures over time.

Net Profit Margin

The net profit margin reflects the bottom-line profitability after all expenses. It follows a somewhat similar pattern as the EBIT margin but remains consistently more negative throughout the periods. Starting at -20.87%, it improves somewhat through 2021 and early 2023 but never reaches positive values. The margin hovers between -2.81% and -6.08% during 2023 but deteriorates sharply through late 2023 and 2024, reaching lows of -17.77% and -16.58%. Although there is a slight improvement towards mid-2025, the margin remains significantly negative at -12.2% by the third quarter of 2025, indicating continued net losses and possible pressures from financing costs, taxes, or non-operating expenses.

Interest Burden

The interest burden ratio data is limited but shows extreme negative values in late 2023 (-4.19 and -3.64), implying substantial interest expenses relative to earnings in that period. This suggests periods of high financial leverage or increased borrowing costs adversely impacting profitability during these quarters.

Overall, the analysis reveals a company struggling to achieve stable profitability over the multi-year timeframe, with occasional short-lived improvement phases. The consistent negative net profit margins combined with a volatile EBIT margin point to ongoing operational inefficiencies or market challenges. The spikes in negative interest burden further underscore the burden of financing costs during certain periods. This financial profile indicates the need for strategic actions to improve cost management, boost operating performance, and address the impact of financial leverage on profitability.