Boeing Co. (NYSE:BA)

Return on Assets (ROA)

The ROA data available from December 31, 2020, onward shows a generally negative trend, indicating that the company has been experiencing losses or inefficiencies in asset utilization across the periods analyzed. Starting at -7.8% on December 31, 2020, the ROA improved slightly, reaching a less negative value of around -2.11% by December 31, 2023. This suggests some recovery or better asset utilization during that timeframe.

However, after this improvement, the ROA appeared to deteriorate again, with values dropping to as low as -7.56% by June 30, 2025. This decline points toward renewed challenges in generating returns on assets in the most recent quarters.

Overall, the ROA reflects a persistent inability to generate positive returns on assets throughout the periods concerned, with some fluctuations signaling both minor recoveries and subsequent setbacks.

Financial Leverage

Data for financial leverage was not provided; therefore, analysis of trends or impacts related to leverage cannot be performed.

Return on Equity (ROE)

Return on Equity figures are missing for all periods, so no assessment can be made regarding shareholder returns or equity profitability trends.

The financial metrics demonstrate notable fluctuations over the observed periods, revealing several underlying operational and profitability dynamics.

Net Profit Margin (%)

The net profit margin exhibits a consistently negative trend throughout the entire timeframe, indicating persistent losses. Beginning in March 2020, the margin was deeply negative at approximately -20.42%, with some improvement towards the end of 2021, reaching a less severe negative value around -6.75%. The margin experienced a brief recovery phase during 2022 and early 2023, with values ranging between -3.74% and -8%, suggesting incremental progress in controlling losses.

However, starting from late 2023 into 2025, there is a deteriorating trend, with margins again declining substantially to levels near -17.77% and -16.58%. This pattern reflects recurring challenges in achieving profitability and suggests volatility in cost control or revenue generation capabilities during these intervals.

Asset Turnover (ratio)

Asset turnover ratios are available starting in late 2020, indicating the efficiency of asset utilization. The ratio begins at 0.38 and shows a gradual upward trend through 2022 and 2023, peaking around 0.57 in late 2023 and early 2024. This improvement suggests enhanced operational efficiency and better utilization of assets to generate revenue during this period.

Post peak, slight declines are observed toward 2025, with ratios falling to approximately 0.43–0.44 before a minor uptick to 0.49. Despite these fluctuations, the overall trend points to a moderate improvement in asset use efficiency compared to the initial periods.

Financial Leverage (ratio)

No data is available for financial leverage over the periods analyzed, preventing any assessment of the company’s capital structure or risk exposure through debt levels.

Return on Equity (ROE) (%)

The absence of data for ROE restricts the evaluation of shareholder profitability and return generation in relation to equity invested during the periods covered.

In summary, the examination reveals that despite some operational efficiency gains as reflected by rising asset turnover, the company consistently struggles with profitability, as illustrated by persistent negative net profit margins. The volatility and extended negative margins highlight ongoing challenges in converting revenue into profit. The lack of financial leverage and ROE data limits a more comprehensive understanding of capital efficiency and financial risk during these quarters.

EBIT Margin

The EBIT Margin demonstrates a general upward trend starting from significantly negative values in early 2020. Initially, it was deeply negative around -21.07% in September 2020, improving gradually over subsequent quarters. By early 2023, the margin approached near breakeven and even positive territory around 0.61% to 0.67% in the first two quarters of 2024. However, slight declines were observed towards the end of 2024 and early 2025, with margins falling back to negative values near -10.5% to -14.24%, indicating fluctuating profitability pressures.

Asset Turnover

Asset Turnover showed a steady increase from 0.38 in the first quarters of 2021 to a peak around 0.57 in late 2023 and early 2024, reflecting improved efficiency in utilizing assets to generate revenue. After reaching this peak, turnover rates slightly declined to approximately 0.43 to 0.49 in the first half of 2025, suggesting a modest reduction in asset utilization efficiency in the most recent periods.

Interest Burden

The Interest Burden ratio was negative in the limited available data during late 2023 and early 2024, with values around -4.19 and -3.64. These negative values reflect high interest expenses relative to operating income during those quarters, adversely impacting profitability from operating income to earnings before taxes. The absence of data before and after these periods limits trend analysis.

Tax Burden and Financial Leverage

No data is available for Tax Burden and Financial Leverage ratios throughout the observed periods, preventing any analysis or insights into the company's tax efficiency or leverage structure.

Return on Equity (ROE)

Return on Equity data is absent for the reported periods, thus no conclusions can be drawn regarding shareholder returns or overall equity profitability.

Net Profit Margin

The net profit margin data begins with a significant negative value of -20.42% at the end of 2020, indicating a substantial loss. This negative trend continues with some fluctuations, showing partial improvements towards the end of 2021 and into 2023, where it approaches a less negative value near -2.86% by mid-2024. However, the margin deteriorates again sharply towards the end of 2024 and early 2025, reaching levels near -16.58% and -14.18%. Overall, the net profit margin reflects ongoing profitability challenges, with notable volatility and a brief partial recovery phase followed by renewed declines.

Asset Turnover

The asset turnover ratio starts at a relatively low level of 0.38 in early 2020 and demonstrates a general upward trend, peaking at about 0.57 around late 2023 and mid-2024. This indicates increasing efficiency in asset utilization during this period. However, after reaching these peaks, there is a decline again toward the end of 2024, dropping to approximately 0.43 before slightly recovering to 0.49 by mid-2025. This pattern suggests some cyclical fluctuations in asset use efficiency alongside periods of improvement.

Return on Assets (ROA)

Return on assets continuously stays in negative territory throughout the observed periods, starting near -7.8% at the end of 2020. It demonstrates a gradual improvement trend up to around -1.6% between early and mid-2024, indicating a reduction in losses relative to total assets. Still, after mid-2024, the ROA declines again, moving back toward values near -7.36% by late 2024 and early 2025. This pattern suggests ongoing operational difficulties and inefficiencies, with occasional short-term improvements but a persistent inability to generate positive returns on assets.

EBIT Margin

The EBIT margin showed a consistently negative trend across the observed periods, beginning with a steep loss of -21.07% in the quarter ending December 2020. The margin improved progressively through 2021 and early 2023, with the losses narrowing to as low as -0.15% by the quarter ending December 2022. However, this improvement was not sustained, as the EBIT margin declined again afterward, reaching -14.24% by June 2025. This pattern indicates ongoing operational challenges affecting earnings before interest and taxes, with some temporary recovery phases followed by renewed pressures.

Asset Turnover

The asset turnover ratio began at 0.38 in December 2020 and displayed a gradual upward trend, peaking at 0.57 during December 2023 and June 2024. This increase signifies improved efficiency in using assets to generate revenue over this span. Nonetheless, from the second half of 2024 onward, the ratio declined, reaching a low of 0.43 by March 2025 before a slight rebound to 0.49 in June 2025. The pattern suggests that asset utilization strengthened initially but faced some deterioration in the later periods.

Return on Assets (ROA)

ROA remained negative throughout the examined timeframe, indicating losses relative to total assets. Starting at -7.8% in December 2020, it experienced a mild improvement toward early 2023, reaching a low of approximately -1.6% by June 2024. Subsequently, the ROA decreased again, falling to -7.56% by June 2025. This trend aligns with the EBIT margin pattern, confirming persistent profitability challenges despite incremental improvements in asset efficiency.

Interest Burden

Available data points for interest burden are limited to negative values of -4.19 and -3.64 in December 2023 and March 2024, respectively. These negative ratios imply that interest expense significantly affected profitability during these quarters, contributing to the overall negative returns observed in the same periods.

Summary

The financial performance displayed a general pattern of struggle characterized by negative EBIT margins and ROA over multiple quarters, indicating sustained difficulty in generating profits from operations and assets. Although asset turnover improved noticeably through late 2023, this was insufficient to offset losses, and the subsequent decline in asset utilization coincided with worsening returns. Negative interest burden metrics in late 2023 and early 2024 suggest that financing costs exerted downward pressure on earnings. Overall, the data reflects ongoing operational and financial challenges with intermittent signs of improvement that were not consistently maintained.

EBIT Margin Trend

The EBIT margin exhibited a clear pattern of improvement from early 2021 through mid-2023, beginning at -21.07% in March 2021 and gradually increasing to positive territory with minor fluctuations, reaching up to approximately 0.67% by June 2024. However, the margin experienced a subsequent decline from mid-2024, falling again into negative values, ending at -10.5% by June 2025.

Net Profit Margin Trend

Net profit margin follows a somewhat similar trajectory as EBIT margin but remained consistently more negative throughout the observation period. Starting around -20.42% in March 2021, it improved slowly towards mid-2023, narrowing to nearly -2.81% by June 2024. Post this improvement phase, a downward trend ensued, with margins deteriorating to approximately -14.18% by June 2025. This indicates persistent challenges in profitability even during better EBIT margin periods.

Interest Burden

The interest burden ratio is limited in data coverage, present only in a few periods around late 2023 to early 2024, showing significantly negative values (-4.19 to -3.64), suggesting increased interest expense relative to earnings in this short timeframe. This may reflect elevated financing costs or interest obligations impacting profitability in these quarters.

Overall Profitability and Financial Health

The data reveals a prolonged period of negative margins through 2020 and early 2021, with gradual recovery noticed in operational profitability (EBIT margin) through 2022 and 2023. Despite this, net profitability remains weak and unable to consistently translate operational gains into net income, reflecting possible issues such as high interest expenses or other non-operational costs. The late 2024 reversion to negative margins suggests renewed pressures that could stem from operational challenges, increased financing costs, or other factors reducing earnings quality.

Data Gaps

Significant data gaps exist for Tax Burden and most Interest Burden periods, limiting a comprehensive assessment of tax impact and full interest cost trends over the entire period.