Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Boeing Co., long-term (investment) activity ratios
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| 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. net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
| 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. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Boeing Co. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Net Fixed Asset Turnover
Boeing Co., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 77,794) | 66,608) | 62,286) | 58,158) | 76,559) | |
| Property, plant and equipment, net | 10,661) | 10,550) | 10,918) | 11,820) | 12,502) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 7.30 | 6.31 | 5.70 | 4.92 | 6.12 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Caterpillar Inc. | 5.04 | 4.70 | 3.99 | 3.15 | 3.93 | |
| Cummins Inc. | 5.45 | 5.08 | 5.43 | 4.66 | 5.55 | |
| Eaton Corp. plc | 6.57 | 6.59 | 6.41 | 6.02 | 6.12 | |
| General Electric Co. | 6.06 | 5.96 | 5.47 | 1.75 | 2.02 | |
| Honeywell International Inc. | 6.48 | 6.48 | 6.18 | 5.86 | 6.89 | |
| Lockheed Martin Corp. | 8.07 | 8.27 | 8.83 | 9.07 | 9.07 | |
| RTX Corp. | 4.38 | 4.42 | 4.30 | 3.78 | 6.04 | |
| Net Fixed Asset Turnover, Sector | ||||||
| Capital Goods | 5.94 | 5.74 | 5.46 | 3.59 | 4.29 | |
| Net Fixed Asset Turnover, Industry | ||||||
| Industrials | 3.22 | 3.27 | 3.10 | 2.46 | 2.82 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Net fixed asset turnover = Revenues ÷ Property, plant and equipment, net
= 77,794 ÷ 10,661 = 7.30
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. net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
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
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 77,794) | 66,608) | 62,286) | 58,158) | 76,559) | |
| Property, plant and equipment, net | 10,661) | 10,550) | 10,918) | 11,820) | 12,502) | |
| Operating lease right-of-use assets | 1,690) | 1,451) | 1,437) | 1,252) | 1,182) | |
| Property, plant and equipment, net (including operating lease, right-of-use asset) | 12,351) | 12,001) | 12,355) | 13,072) | 13,684) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 6.30 | 5.55 | 5.04 | 4.45 | 5.59 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Caterpillar Inc. | 4.83 | 4.49 | 3.79 | 3.00 | 3.75 | |
| Cummins Inc. | 5.05 | 4.67 | 4.94 | 4.22 | 4.97 | |
| Eaton Corp. plc | 5.55 | 5.58 | 5.60 | 5.26 | 5.44 | |
| General Electric Co. | 5.17 | 5.08 | 4.55 | 1.63 | 1.89 | |
| Honeywell International Inc. | 5.50 | 5.58 | 5.28 | 5.15 | 6.12 | |
| Lockheed Martin Corp. | 7.14 | 7.27 | 7.54 | 7.96 | 7.88 | |
| RTX Corp. | 3.96 | 3.95 | 3.80 | 3.36 | 5.02 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Capital Goods | 5.29 | 5.10 | 4.80 | 3.29 | 3.90 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Industrials | 2.78 | 2.82 | 2.67 | 2.17 | 2.62 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 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)
= 77,794 ÷ 12,351 = 6.30
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. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023. |
Total Asset Turnover
Boeing Co., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 77,794) | 66,608) | 62,286) | 58,158) | 76,559) | |
| Total assets | 137,012) | 137,100) | 138,552) | 152,136) | 133,625) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.57 | 0.49 | 0.45 | 0.38 | 0.57 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Caterpillar Inc. | 0.73 | 0.69 | 0.58 | 0.50 | 0.65 | |
| Cummins Inc. | 1.06 | 0.93 | 1.01 | 0.88 | 1.19 | |
| Eaton Corp. plc | 0.60 | 0.59 | 0.58 | 0.56 | 0.65 | |
| General Electric Co. | 0.40 | 0.39 | 0.36 | 0.29 | 0.33 | |
| Honeywell International Inc. | 0.60 | 0.57 | 0.53 | 0.51 | 0.63 | |
| Lockheed Martin Corp. | 1.29 | 1.25 | 1.32 | 1.29 | 1.26 | |
| RTX Corp. | 0.43 | 0.42 | 0.40 | 0.35 | 0.55 | |
| Total Asset Turnover, Sector | ||||||
| Capital Goods | 0.60 | 0.56 | 0.52 | 0.44 | 0.56 | |
| Total Asset Turnover, Industry | ||||||
| Industrials | 0.68 | 0.66 | 0.61 | 0.52 | 0.62 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Total asset turnover = Revenues ÷ Total assets
= 77,794 ÷ 137,012 = 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. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Equity Turnover
Boeing Co., equity turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 77,794) | 66,608) | 62,286) | 58,158) | 76,559) | |
| Shareholders’ deficit | (17,233) | (15,883) | (14,999) | (18,316) | (8,617) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | — | — | — | — | — | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Caterpillar Inc. | 3.28 | 3.57 | 2.92 | 2.55 | 3.48 | |
| Cummins Inc. | 3.85 | 3.13 | 2.83 | 2.46 | 3.14 | |
| Eaton Corp. plc | 1.22 | 1.22 | 1.20 | 1.20 | 1.33 | |
| General Electric Co. | 2.36 | 2.02 | 1.76 | 2.05 | 3.09 | |
| Honeywell International Inc. | 2.31 | 2.12 | 1.85 | 1.86 | 1.98 | |
| Lockheed Martin Corp. | 9.89 | 7.12 | 6.12 | 10.87 | 19.13 | |
| RTX Corp. | 1.15 | 0.92 | 0.88 | 0.78 | 1.84 | |
| Equity Turnover, Sector | ||||||
| Capital Goods | 3.12 | 2.57 | 2.31 | 2.40 | 3.57 | |
| Equity Turnover, Industry | ||||||
| Industrials | 3.24 | 2.95 | 2.59 | 2.74 | 3.51 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Equity turnover = Revenues ÷ Shareholders’ deficit
= 77,794 ÷ -17,233 = —
2 Click competitor name to see calculations.