Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Boeing Co., solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Boeing Co. debt to capital ratio deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Boeing Co. debt to assets ratio improved from Q4 2023 to Q1 2024 but then deteriorated significantly from Q1 2024 to Q2 2024. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Boeing Co. interest coverage ratio improved from Q4 2023 to Q1 2024 but then deteriorated significantly from Q1 2024 to Q2 2024. |
Debt to Equity
Boeing Co., debt to equity calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Short-term debt and current portion of long-term debt | 4,765) | 1,063) | 5,204) | 4,891) | 4,609) | 7,926) | 5,190) | 5,431) | 5,406) | 2,591) | 1,296) | 5,377) | 6,534) | 6,021) | 1,693) | 3,634) | 2,922) | 5,173) | 7,340) | 4,354) | 4,357) | 3,381) | |||||||
| Long-term debt, excluding current portion | 53,162) | 46,877) | 47,103) | 47,381) | 47,659) | 47,465) | 51,811) | 51,788) | 51,794) | 55,150) | 56,806) | 57,042) | 57,025) | 57,554) | 61,890) | 57,325) | 58,457) | 33,754) | 19,962) | 20,298) | 14,859) | 11,363) | |||||||
| Total debt | 57,927) | 47,940) | 52,307) | 52,272) | 52,268) | 55,391) | 57,001) | 57,219) | 57,200) | 57,741) | 58,102) | 62,419) | 63,559) | 63,575) | 63,583) | 60,959) | 61,379) | 38,927) | 27,302) | 24,652) | 19,216) | 14,744) | |||||||
| Shareholders’ equity (deficit) | (17,976) | (17,009) | (17,233) | (16,729) | (15,517) | (15,508) | (15,883) | (17,699) | (14,888) | (15,398) | (14,999) | (14,440) | (16,682) | (18,058) | (18,316) | (11,821) | (11,667) | (9,665) | (8,617) | (4,116) | (5,322) | 125) | |||||||
| Solvency Ratio | |||||||||||||||||||||||||||||
| Debt to equity1 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 117.95 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | |||||||||||||||||||||||||||||
| Caterpillar Inc. | 2.18 | 2.15 | 1.94 | 1.81 | 2.07 | 2.04 | 2.33 | 2.34 | 2.35 | 2.20 | 2.29 | 2.21 | 2.23 | 2.30 | 2.42 | 2.55 | 2.81 | 2.61 | 2.58 | 2.54 | 2.45 | 2.32 | |||||||
| Eaton Corp. plc | 0.51 | 0.48 | 0.49 | 0.50 | 0.52 | 0.50 | 0.51 | 0.56 | 0.59 | 0.58 | 0.52 | 0.57 | 0.79 | 0.68 | 0.54 | 0.57 | 0.58 | 0.59 | 0.52 | 0.51 | 0.50 | 0.47 | |||||||
| GE Aerospace | 1.06 | 0.69 | 0.77 | 0.73 | 0.70 | 0.71 | 0.89 | 0.97 | 0.94 | 0.86 | 0.87 | 1.68 | 1.90 | 2.12 | 2.11 | 2.39 | 2.43 | 2.41 | 3.21 | 3.34 | 2.95 | 3.06 | |||||||
| Honeywell International Inc. | 1.65 | 1.53 | 1.29 | 1.18 | 1.24 | 1.13 | 1.17 | 0.96 | 1.09 | 1.05 | 1.06 | 1.19 | 1.19 | 1.19 | 1.28 | 1.23 | 1.22 | 0.91 | 0.87 | 1.03 | 0.91 | 0.86 | |||||||
| Lockheed Martin Corp. | 3.12 | 2.92 | 2.55 | 1.88 | 1.90 | 1.62 | 1.68 | 0.96 | 1.02 | 1.16 | 1.07 | 1.21 | 1.87 | 1.93 | 2.02 | 2.56 | 3.38 | 3.68 | 4.05 | 3.48 | 4.75 | 5.65 | |||||||
| RTX Corp. | 0.71 | 0.71 | 0.73 | 0.51 | 0.49 | 0.47 | 0.44 | 0.48 | 0.45 | 0.43 | 0.43 | 0.44 | 0.44 | 0.44 | 0.44 | 0.48 | 0.49 | 1.18 | 1.04 | 1.10 | 1.11 | 1.14 | |||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q2 2024 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity (deficit)
= 57,927 ÷ -17,976 = —
2 Click competitor name to see calculations.
Debt to Capital
Boeing Co., debt to capital calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Short-term debt and current portion of long-term debt | 4,765) | 1,063) | 5,204) | 4,891) | 4,609) | 7,926) | 5,190) | 5,431) | 5,406) | 2,591) | 1,296) | 5,377) | 6,534) | 6,021) | 1,693) | 3,634) | 2,922) | 5,173) | 7,340) | 4,354) | 4,357) | 3,381) | |||||||
| Long-term debt, excluding current portion | 53,162) | 46,877) | 47,103) | 47,381) | 47,659) | 47,465) | 51,811) | 51,788) | 51,794) | 55,150) | 56,806) | 57,042) | 57,025) | 57,554) | 61,890) | 57,325) | 58,457) | 33,754) | 19,962) | 20,298) | 14,859) | 11,363) | |||||||
| Total debt | 57,927) | 47,940) | 52,307) | 52,272) | 52,268) | 55,391) | 57,001) | 57,219) | 57,200) | 57,741) | 58,102) | 62,419) | 63,559) | 63,575) | 63,583) | 60,959) | 61,379) | 38,927) | 27,302) | 24,652) | 19,216) | 14,744) | |||||||
| Shareholders’ equity (deficit) | (17,976) | (17,009) | (17,233) | (16,729) | (15,517) | (15,508) | (15,883) | (17,699) | (14,888) | (15,398) | (14,999) | (14,440) | (16,682) | (18,058) | (18,316) | (11,821) | (11,667) | (9,665) | (8,617) | (4,116) | (5,322) | 125) | |||||||
| Total capital | 39,951) | 30,931) | 35,074) | 35,543) | 36,751) | 39,883) | 41,118) | 39,520) | 42,312) | 42,343) | 43,103) | 47,979) | 46,877) | 45,517) | 45,267) | 49,138) | 49,712) | 29,262) | 18,685) | 20,536) | 13,894) | 14,869) | |||||||
| Solvency Ratio | |||||||||||||||||||||||||||||
| Debt to capital1 | 1.45 | 1.55 | 1.49 | 1.47 | 1.42 | 1.39 | 1.39 | 1.45 | 1.35 | 1.36 | 1.35 | 1.30 | 1.36 | 1.40 | 1.40 | 1.24 | 1.23 | 1.33 | 1.46 | 1.20 | 1.38 | 0.99 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | |||||||||||||||||||||||||||||
| Caterpillar Inc. | 0.69 | 0.68 | 0.66 | 0.64 | 0.67 | 0.67 | 0.70 | 0.70 | 0.70 | 0.69 | 0.70 | 0.69 | 0.69 | 0.70 | 0.71 | 0.72 | 0.74 | 0.72 | 0.72 | 0.72 | 0.71 | 0.70 | |||||||
| Eaton Corp. plc | 0.34 | 0.32 | 0.33 | 0.33 | 0.34 | 0.34 | 0.34 | 0.36 | 0.37 | 0.37 | 0.34 | 0.36 | 0.44 | 0.40 | 0.35 | 0.36 | 0.37 | 0.37 | 0.34 | 0.34 | 0.33 | 0.32 | |||||||
| GE Aerospace | 0.51 | 0.41 | 0.43 | 0.42 | 0.41 | 0.41 | 0.47 | 0.49 | 0.48 | 0.46 | 0.47 | 0.63 | 0.65 | 0.68 | 0.68 | 0.70 | 0.71 | 0.71 | 0.76 | 0.77 | 0.75 | 0.75 | |||||||
| Honeywell International Inc. | 0.62 | 0.61 | 0.56 | 0.54 | 0.55 | 0.53 | 0.54 | 0.49 | 0.52 | 0.51 | 0.51 | 0.54 | 0.54 | 0.54 | 0.56 | 0.55 | 0.55 | 0.48 | 0.46 | 0.51 | 0.48 | 0.46 | |||||||
| Lockheed Martin Corp. | 0.76 | 0.74 | 0.72 | 0.65 | 0.66 | 0.62 | 0.63 | 0.49 | 0.50 | 0.54 | 0.52 | 0.55 | 0.65 | 0.66 | 0.67 | 0.72 | 0.77 | 0.79 | 0.80 | 0.78 | 0.83 | 0.85 | |||||||
| RTX Corp. | 0.42 | 0.41 | 0.42 | 0.34 | 0.33 | 0.32 | 0.31 | 0.32 | 0.31 | 0.30 | 0.30 | 0.30 | 0.31 | 0.31 | 0.31 | 0.32 | 0.33 | 0.54 | 0.51 | 0.52 | 0.53 | 0.53 | |||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q2 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 57,927 ÷ 39,951 = 1.45
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Boeing Co. debt to capital ratio deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level. |
Debt to Assets
Boeing Co., debt to assets calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Short-term debt and current portion of long-term debt | 4,765) | 1,063) | 5,204) | 4,891) | 4,609) | 7,926) | 5,190) | 5,431) | 5,406) | 2,591) | 1,296) | 5,377) | 6,534) | 6,021) | 1,693) | 3,634) | 2,922) | 5,173) | 7,340) | 4,354) | 4,357) | 3,381) | |||||||
| Long-term debt, excluding current portion | 53,162) | 46,877) | 47,103) | 47,381) | 47,659) | 47,465) | 51,811) | 51,788) | 51,794) | 55,150) | 56,806) | 57,042) | 57,025) | 57,554) | 61,890) | 57,325) | 58,457) | 33,754) | 19,962) | 20,298) | 14,859) | 11,363) | |||||||
| Total debt | 57,927) | 47,940) | 52,307) | 52,272) | 52,268) | 55,391) | 57,001) | 57,219) | 57,200) | 57,741) | 58,102) | 62,419) | 63,559) | 63,575) | 63,583) | 60,959) | 61,379) | 38,927) | 27,302) | 24,652) | 19,216) | 14,744) | |||||||
| Total assets | 142,720) | 134,484) | 137,012) | 134,281) | 134,774) | 136,347) | 137,100) | 137,558) | 135,479) | 135,801) | 138,552) | 146,846) | 148,935) | 150,035) | 152,136) | 161,261) | 162,872) | 143,075) | 133,625) | 132,598) | 126,261) | 120,209) | |||||||
| Solvency Ratio | |||||||||||||||||||||||||||||
| Debt to assets1 | 0.41 | 0.36 | 0.38 | 0.39 | 0.39 | 0.41 | 0.42 | 0.42 | 0.42 | 0.43 | 0.42 | 0.43 | 0.43 | 0.42 | 0.42 | 0.38 | 0.38 | 0.27 | 0.20 | 0.19 | 0.15 | 0.12 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | |||||||||||||||||||||||||||||
| Caterpillar Inc. | 0.45 | 0.45 | 0.43 | 0.43 | 0.44 | 0.44 | 0.45 | 0.45 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.47 | 0.47 | 0.50 | 0.50 | 0.49 | 0.48 | 0.49 | 0.46 | 0.45 | |||||||
| Eaton Corp. plc | 0.25 | 0.24 | 0.24 | 0.25 | 0.25 | 0.25 | 0.25 | 0.26 | 0.28 | 0.27 | 0.25 | 0.27 | 0.33 | 0.30 | 0.25 | 0.26 | 0.27 | 0.27 | 0.25 | 0.25 | 0.25 | 0.24 | |||||||
| GE Aerospace | 0.16 | 0.13 | 0.13 | 0.13 | 0.13 | 0.14 | 0.17 | 0.17 | 0.18 | 0.18 | 0.18 | 0.27 | 0.27 | 0.29 | 0.30 | 0.31 | 0.32 | 0.32 | 0.34 | 0.35 | 0.34 | 0.34 | |||||||
| Honeywell International Inc. | 0.40 | 0.38 | 0.33 | 0.33 | 0.34 | 0.32 | 0.31 | 0.28 | 0.31 | 0.31 | 0.30 | 0.33 | 0.33 | 0.34 | 0.35 | 0.35 | 0.35 | 0.28 | 0.27 | 0.31 | 0.28 | 0.28 | |||||||
| Lockheed Martin Corp. | 0.35 | 0.35 | 0.33 | 0.31 | 0.31 | 0.29 | 0.29 | 0.22 | 0.22 | 0.23 | 0.23 | 0.23 | 0.23 | 0.24 | 0.24 | 0.25 | 0.26 | 0.26 | 0.27 | 0.28 | 0.28 | 0.29 | |||||||
| RTX Corp. | 0.26 | 0.27 | 0.27 | 0.22 | 0.22 | 0.21 | 0.20 | 0.21 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.33 | 0.31 | 0.32 | 0.33 | 0.33 | |||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q2 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 57,927 ÷ 142,720 = 0.41
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Boeing Co. debt to assets ratio improved from Q4 2023 to Q1 2024 but then deteriorated significantly from Q1 2024 to Q2 2024. |
Financial Leverage
Boeing Co., financial leverage calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Total assets | 142,720) | 134,484) | 137,012) | 134,281) | 134,774) | 136,347) | 137,100) | 137,558) | 135,479) | 135,801) | 138,552) | 146,846) | 148,935) | 150,035) | 152,136) | 161,261) | 162,872) | 143,075) | 133,625) | 132,598) | 126,261) | 120,209) | |||||||
| Shareholders’ equity (deficit) | (17,976) | (17,009) | (17,233) | (16,729) | (15,517) | (15,508) | (15,883) | (17,699) | (14,888) | (15,398) | (14,999) | (14,440) | (16,682) | (18,058) | (18,316) | (11,821) | (11,667) | (9,665) | (8,617) | (4,116) | (5,322) | 125) | |||||||
| Solvency Ratio | |||||||||||||||||||||||||||||
| Financial leverage1 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 961.67 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | |||||||||||||||||||||||||||||
| Caterpillar Inc. | 4.86 | 4.75 | 4.49 | 4.24 | 4.68 | 4.61 | 5.16 | 5.19 | 5.16 | 4.82 | 5.02 | 4.85 | 4.85 | 4.87 | 5.11 | 5.13 | 5.57 | 5.35 | 5.38 | 5.22 | 5.34 | 5.10 | |||||||
| Eaton Corp. plc | 2.05 | 2.00 | 2.02 | 2.03 | 2.05 | 2.04 | 2.06 | 2.14 | 2.15 | 2.12 | 2.07 | 2.14 | 2.39 | 2.27 | 2.13 | 2.14 | 2.14 | 2.17 | 2.04 | 2.01 | 1.98 | 1.95 | |||||||
| GE Aerospace | 6.62 | 5.49 | 5.96 | 5.47 | 5.23 | 5.20 | 5.16 | 5.75 | 5.35 | 4.92 | 4.93 | 6.33 | 7.09 | 7.30 | 7.13 | 7.64 | 7.62 | 7.43 | 9.40 | 9.42 | 8.71 | 8.96 | |||||||
| Honeywell International Inc. | 4.09 | 3.99 | 3.88 | 3.56 | 3.60 | 3.54 | 3.73 | 3.40 | 3.55 | 3.45 | 3.47 | 3.60 | 3.56 | 3.53 | 3.68 | 3.51 | 3.50 | 3.25 | 3.17 | 3.32 | 3.23 | 3.12 | |||||||
| Lockheed Martin Corp. | 8.92 | 8.27 | 7.67 | 6.11 | 6.17 | 5.66 | 5.71 | 4.35 | 4.53 | 5.15 | 4.64 | 5.38 | 7.99 | 8.15 | 8.43 | 10.25 | 13.22 | 14.29 | 15.20 | 12.66 | 16.79 | 19.34 | |||||||
| RTX Corp. | 2.73 | 2.65 | 2.71 | 2.33 | 2.24 | 2.22 | 2.19 | 2.25 | 2.26 | 2.20 | 2.21 | 2.23 | 2.23 | 2.24 | 2.25 | 2.37 | 2.40 | 3.54 | 3.34 | 3.44 | 3.41 | 3.46 | |||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q2 2024 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity (deficit)
= 142,720 ÷ -17,976 = —
2 Click competitor name to see calculations.
Interest Coverage
Boeing Co., interest coverage calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net earnings (loss) attributable to Boeing Shareholders | (1,439) | (343) | (23) | (1,636) | (149) | (414) | (634) | (3,275) | 193) | (1,219) | (4,143) | (109) | 587) | (537) | (8,420) | (449) | (2,376) | (628) | (1,010) | 1,167) | (2,942) | 2,149) | |||||||
| Add: Net income attributable to noncontrolling interest | —) | (12) | (7) | (2) | —) | (11) | (29) | (33) | (33) | (23) | (21) | (23) | (20) | (24) | (19) | (17) | (19) | (13) | (19) | (15) | (7) | —) | |||||||
| Add: Income tax expense | (76) | (23) | 21) | 538) | (251) | (71) | 14) | 176) | 217) | (376) | (536) | (178) | (18) | (11) | (186) | (459) | (1,028) | (862) | (1,332) | 10) | (485) | 184) | |||||||
| Add: Interest and debt expense | 673) | 569) | 600) | 589) | 621) | 649) | 632) | 621) | 650) | 630) | 661) | 669) | 673) | 679) | 698) | 643) | 553) | 262) | 242) | 203) | 154) | 123) | |||||||
| Earnings before interest and tax (EBIT) | (842) | 191) | 591) | (511) | 221) | 153) | (17) | (2,511) | 1,027) | (988) | (4,039) | 359) | 1,222) | 107) | (7,927) | (282) | (2,870) | (1,241) | (2,119) | 1,365) | (3,280) | 2,456) | |||||||
| Solvency Ratio | |||||||||||||||||||||||||||||
| Interest coverage1 | -0.23 | 0.21 | 0.18 | -0.06 | -0.85 | -0.53 | -0.98 | -2.54 | -1.40 | -1.31 | -0.88 | -2.29 | -2.55 | -4.26 | -5.71 | -3.83 | -3.86 | -6.13 | -2.19 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | |||||||||||||||||||||||||||||
| Caterpillar Inc. | 26.88 | 27.68 | 26.66 | 24.81 | 23.80 | 21.33 | 20.80 | 22.05 | 20.08 | 19.10 | 17.88 | 14.11 | 11.79 | 9.28 | 8.80 | 9.94 | 13.07 | 17.44 | 19.62 | — | — | — | |||||||
| Eaton Corp. plc | 37.97 | 32.04 | 26.34 | 22.25 | 19.68 | 19.85 | 21.22 | 21.33 | 24.31 | 22.57 | 21.11 | 20.08 | 15.71 | 11.87 | 12.72 | 11.39 | 11.72 | 13.79 | 11.98 | — | — | — | |||||||
| GE Aerospace | 6.07 | 5.94 | 10.12 | 9.41 | 8.49 | 6.73 | 1.88 | -1.66 | -1.16 | -1.49 | -0.96 | 2.15 | 1.11 | 0.65 | 2.59 | 2.16 | 2.11 | 2.64 | 1.27 | — | — | — | |||||||
| Honeywell International Inc. | 9.33 | 9.89 | 10.36 | 10.68 | 12.45 | 14.34 | 16.41 | 20.95 | 20.60 | 21.35 | 22.09 | 20.98 | 18.89 | 16.79 | 17.75 | 18.10 | 20.68 | 23.18 | 22.17 | — | — | — | |||||||
| Lockheed Martin Corp. | 8.83 | 9.19 | 9.84 | 10.42 | 11.74 | 10.58 | 11.72 | 13.31 | 10.88 | 14.12 | 14.27 | 13.67 | 15.97 | 15.44 | 14.93 | 14.16 | 13.35 | 12.63 | 12.09 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q2 2024 Calculation
Interest coverage
= (EBITQ2 2024
+ EBITQ1 2024
+ EBITQ4 2023
+ EBITQ3 2023)
÷ (Interest expenseQ2 2024
+ Interest expenseQ1 2024
+ Interest expenseQ4 2023
+ Interest expenseQ3 2023)
= (-842 + 191 + 591 + -511)
÷ (673 + 569 + 600 + 589)
= -0.23
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Boeing Co. interest coverage ratio improved from Q4 2023 to Q1 2024 but then deteriorated significantly from Q1 2024 to Q2 2024. |