Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Boeing Co. (NYSE:BA)

Analysis of Long-term (Investment) Activity Ratios

Beginner level

Long-term Activity Ratios (Summary)

Boeing Co., long-term (investment) activity ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net fixed asset turnover 6.12 8.00 7.37 7.38 7.96
Net fixed asset turnover (including operating lease, right-of-use asset) 5.59 8.00 7.37 7.38 7.96
Total asset turnover 0.57 0.86 1.01 1.05 1.02
Equity turnover 298.31 263.08 115.75 15.17

Based on: 10-K (filing date: 2020-01-31), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-10).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Boeing Co.’s net fixed asset turnover ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Boeing Co.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Boeing Co.’s total asset turnover ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Net Fixed Asset Turnover

Boeing Co., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Revenues 76,559  101,127  93,392  94,571  96,114 
Property, plant and equipment, net 12,502  12,645  12,672  12,807  12,076 
Long-term Activity Ratio
Net fixed asset turnover1 6.12 8.00 7.37 7.38 7.96
Benchmarks
Net Fixed Asset Turnover, Competitors2
Lockheed Martin Corp. 9.07 8.78 8.84 8.51 8.40
Northrop Grumman Corp. 4.90 4.72 6.11 6.83 7.68
Raytheon Technologies Corp. 6.04 5.41 5.87 6.25 6.42
Net Fixed Asset Turnover, Sector
Aerospace & Defense 6.38 6.72 7.00 7.19 7.56
Net Fixed Asset Turnover, Industry
Industrials 2.44 2.56 2.45 2.41 2.44

Based on: 10-K (filing date: 2020-01-31), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-10).

1 2019 Calculation
Net fixed asset turnover = Revenues ÷ Property, plant and equipment, net
= 76,559 ÷ 12,502 = 6.12

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Boeing Co.’s net fixed asset turnover ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Boeing Co., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Revenues 76,559  101,127  93,392  94,571  96,114 
 
Property, plant and equipment, net 12,502  12,645  12,672  12,807  12,076 
Operating lease right-of-use assets 1,182  —  —  —  — 
Property, plant and equipment, net (including operating lease, right-of-use asset) 13,684  12,645  12,672  12,807  12,076 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 5.59 8.00 7.37 7.38 7.96
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Lockheed Martin Corp. 7.88 8.78 8.84 8.51 8.40
Northrop Grumman Corp. 4.02 4.72 6.11 6.83 7.68
Raytheon Technologies Corp. 5.02 5.41 5.87 6.25 6.42
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Aerospace & Defense 5.49 6.72 7.00 7.19 7.56
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Industrials 2.29 2.56 2.45 2.41 2.44

Based on: 10-K (filing date: 2020-01-31), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-10).

1 2019 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 76,559 ÷ 13,684 = 5.59

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Boeing Co.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Total Asset Turnover

Boeing Co., total asset turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Revenues 76,559  101,127  93,392  94,571  96,114 
Total assets 133,625  117,359  92,333  89,997  94,408 
Long-term Activity Ratio
Total asset turnover1 0.57 0.86 1.01 1.05 1.02
Benchmarks
Total Asset Turnover, Competitors2
Lockheed Martin Corp. 1.26 1.20 1.10 0.99 0.94
Northrop Grumman Corp. 0.82 0.80 0.74 0.96 0.96
Raytheon Technologies Corp. 0.55 0.50 0.62 0.64 0.64
Total Asset Turnover, Sector
Aerospace & Defense 0.68 0.75 0.85 0.88 0.87
Total Asset Turnover, Industry
Industrials 0.63 0.67 0.62 0.62 0.56

Based on: 10-K (filing date: 2020-01-31), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-10).

1 2019 Calculation
Total asset turnover = Revenues ÷ Total assets
= 76,559 ÷ 133,625 = 0.57

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Boeing Co.’s total asset turnover ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Equity Turnover

Boeing Co., equity turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Revenues 76,559  101,127  93,392  94,571  96,114 
Shareholders’ equity (8,617) 339  355  817  6,335 
Long-term Activity Ratio
Equity turnover1 298.31 263.08 115.75 15.17
Benchmarks
Equity Turnover, Competitors2
Lockheed Martin Corp. 19.13 38.57 31.27 14.90
Northrop Grumman Corp. 3.84 3.68 3.66 4.66 4.26
Raytheon Technologies Corp. 1.84 1.73 2.02 2.08 2.05
Equity Turnover, Sector
Aerospace & Defense 5.48 5.20 6.33 6.36 5.24
Equity Turnover, Industry
Industrials 3.45 3.55 2.96 2.87 2.49

Based on: 10-K (filing date: 2020-01-31), 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-10).

1 2019 Calculation
Equity turnover = Revenues ÷ Shareholders’ equity
= 76,559 ÷ -8,617 =

2 Click competitor name to see calculations.