Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Boeing Co., liquidity ratios
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Current ratio | 1.33 | 1.39 | 1.05 | 1.08 | 1.16 | |
| Quick ratio | 0.34 | 0.41 | 0.23 | 0.28 | 0.37 | |
| Cash ratio | 0.20 | 0.29 | 0.10 | 0.10 | 0.18 |
Based on: 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).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Boeing Co. current ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Boeing Co. quick ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Boeing Co. cash ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |
Current Ratio
Boeing Co., current ratio calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 108,666 | 121,642 | 102,229 | 87,830 | 65,161 | |
| Current liabilities | 81,992 | 87,280 | 97,312 | 81,590 | 56,269 | |
| Liquidity Ratio | ||||||
| Current ratio1 | 1.33 | 1.39 | 1.05 | 1.08 | 1.16 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| 3M Co. | 1.70 | 1.89 | 1.41 | 1.89 | 1.86 | |
| Caterpillar Inc. | 1.46 | 1.53 | 1.47 | 1.37 | 1.35 | |
| General Electric Co. | 1.28 | 1.58 | 1.16 | 1.08 | 1.16 | |
| Honeywell International Inc. | 1.30 | 1.47 | 1.34 | 1.29 | 1.38 | |
| Lockheed Martin Corp. | 1.42 | 1.39 | 1.22 | 1.12 | 1.38 | |
| Raytheon Technologies Corp. | 1.19 | 1.21 | 1.08 | 1.13 | 1.35 | |
| Current Ratio, Sector | ||||||
| Capital Goods | 1.33 | 1.44 | 1.17 | 1.16 | 1.26 | |
| Current Ratio, Industry | ||||||
| Industrials | 1.27 | 1.37 | 1.08 | 1.07 | 1.17 | |
Based on: 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).
1 2021 Calculation
Current ratio = Current assets ÷ Current liabilities
= 108,666 ÷ 81,992 = 1.33
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Boeing Co. current ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
Quick Ratio
Boeing Co., quick ratio calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 8,052 | 7,752 | 9,485 | 7,637 | 8,813 | |
| Short-term and other investments | 8,192 | 17,838 | 545 | 927 | 1,179 | |
| Accounts receivable, net | 2,641 | 1,955 | 3,266 | 3,879 | 10,516 | |
| Unbilled receivables, net | 8,620 | 7,995 | 9,043 | 10,025 | — | |
| Current portion of customer financing, net | 117 | 101 | 162 | 460 | 309 | |
| Total quick assets | 27,622 | 35,641 | 22,501 | 22,928 | 20,817 | |
| Current liabilities | 81,992 | 87,280 | 97,312 | 81,590 | 56,269 | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 0.34 | 0.41 | 0.23 | 0.28 | 0.37 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| 3M Co. | 1.04 | 1.23 | 0.79 | 1.14 | 1.18 | |
| Caterpillar Inc. | 0.89 | 1.02 | 0.98 | 0.90 | 0.91 | |
| General Electric Co. | 0.93 | 1.27 | 0.86 | 0.79 | 0.84 | |
| Honeywell International Inc. | 0.94 | 1.15 | 0.99 | 0.97 | 1.04 | |
| Lockheed Martin Corp. | 1.15 | 1.05 | 0.93 | 0.88 | 0.91 | |
| Raytheon Technologies Corp. | 0.81 | 0.78 | 0.73 | 0.76 | 0.88 | |
| Quick Ratio, Sector | ||||||
| Capital Goods | 0.73 | 0.84 | 0.64 | 0.66 | 0.77 | |
| Quick Ratio, Industry | ||||||
| Industrials | 0.79 | 0.87 | 0.64 | 0.65 | 0.75 | |
Based on: 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).
1 2021 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 27,622 ÷ 81,992 = 0.34
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Boeing Co. quick ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
Cash Ratio
Boeing Co., cash ratio calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 8,052 | 7,752 | 9,485 | 7,637 | 8,813 | |
| Short-term and other investments | 8,192 | 17,838 | 545 | 927 | 1,179 | |
| Total cash assets | 16,244 | 25,590 | 10,030 | 8,564 | 9,992 | |
| Current liabilities | 81,992 | 87,280 | 97,312 | 81,590 | 56,269 | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.20 | 0.29 | 0.10 | 0.10 | 0.18 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| 3M Co. | 0.53 | 0.63 | 0.27 | 0.45 | 0.54 | |
| Caterpillar Inc. | 0.31 | 0.36 | 0.31 | 0.28 | 0.31 | |
| General Electric Co. | 0.54 | 0.78 | 0.60 | 0.50 | 0.54 | |
| Honeywell International Inc. | 0.59 | 0.79 | 0.58 | 0.58 | 0.57 | |
| Lockheed Martin Corp. | 0.26 | 0.23 | 0.11 | 0.05 | 0.23 | |
| Raytheon Technologies Corp. | 0.22 | 0.25 | 0.21 | 0.20 | 0.37 | |
| Cash Ratio, Sector | ||||||
| Capital Goods | 0.34 | 0.45 | 0.31 | 0.29 | 0.39 | |
| Cash Ratio, Industry | ||||||
| Industrials | 0.40 | 0.48 | 0.30 | 0.28 | 0.37 | |
Based on: 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).
1 2021 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 16,244 ÷ 81,992 = 0.20
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Boeing Co. cash ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |