Stock Analysis on Net

Boeing Co. (NYSE:BA)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel LibreOffice Calc

Long-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net fixed asset turnover 5.70 4.92 6.12 8.00 7.37
Net fixed asset turnover (including operating lease, right-of-use asset) 5.04 4.45 5.59 8.00 7.37
Total asset turnover 0.45 0.38 0.57 0.86 1.01
Equity turnover 298.31 263.08

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).

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 deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
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) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Boeing Co. total asset turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Net Fixed Asset Turnover

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

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues 62,286  58,158  76,559  101,127  93,392 
Property, plant and equipment, net 10,918  11,820  12,502  12,645  12,672 
Long-term Activity Ratio
Net fixed asset turnover1 5.70 4.92 6.12 8.00 7.37
Benchmarks
Net Fixed Asset Turnover, Competitors2
3M Co. 3.75 3.42 3.44 3.75 3.57
Caterpillar Inc. 3.99 3.15 3.93 3.82 3.01
General Electric Co. 5.47 1.75 2.02 2.24 2.10
Honeywell International Inc. 6.18 5.86 6.89 7.89 6.84
Lockheed Martin Corp. 8.83 9.07 9.07 8.78 8.84
Raytheon Technologies Corp. 4.30 3.78 6.04 5.41 5.87
Net Fixed Asset Turnover, Sector
Capital Goods 5.20 3.46 4.09 4.22 3.88
Net Fixed Asset Turnover, Industry
Industrials 1.97 1.59 1.97 2.09 2.01

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
Net fixed asset turnover = Revenues ÷ Property, plant and equipment, net
= 62,286 ÷ 10,918 = 5.70

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 deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

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, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues 62,286  58,158  76,559  101,127  93,392 
 
Property, plant and equipment, net 10,918  11,820  12,502  12,645  12,672 
Operating lease right-of-use assets 1,437  1,252  1,182  —  — 
Property, plant and equipment, net (including operating lease, right-of-use asset) 12,355  13,072  13,684  12,645  12,672 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 5.04 4.45 5.59 8.00 7.37
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
3M Co. 3.44 3.13 3.15 3.75 3.57
Caterpillar Inc. 3.79 3.00 3.75 3.82 3.01
General Electric Co. 4.55 1.63 1.89 2.24 2.10
Honeywell International Inc. 5.28 5.15 6.12 7.89 6.84
Lockheed Martin Corp. 7.54 7.96 7.88 8.78 8.84
Raytheon Technologies Corp. 3.80 3.36 5.02 5.41 5.87
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Capital Goods 4.59 3.18 3.74 4.22 3.88
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Industrials 1.72 1.42 1.81 2.01 2.01

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
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 62,286 ÷ 12,355 = 5.04

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) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Total Asset Turnover

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

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues 62,286  58,158  76,559  101,127  93,392 
Total assets 138,552  152,136  133,625  117,359  92,333 
Long-term Activity Ratio
Total asset turnover1 0.45 0.38 0.57 0.86 1.01
Benchmarks
Total Asset Turnover, Competitors2
3M Co. 0.75 0.68 0.72 0.90 0.83
Caterpillar Inc. 0.58 0.50 0.65 0.66 0.55
General Electric Co. 0.36 0.29 0.33 0.37 0.30
Honeywell International Inc. 0.53 0.51 0.63 0.72 0.68
Lockheed Martin Corp. 1.32 1.29 1.26 1.20 1.10
Raytheon Technologies Corp. 0.40 0.35 0.55 0.50 0.62
Total Asset Turnover, Sector
Capital Goods 0.51 0.44 0.55 0.59 0.55
Total Asset Turnover, Industry
Industrials 0.56 0.47 0.62 0.66 0.62

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
Total asset turnover = Revenues ÷ Total assets
= 62,286 ÷ 138,552 = 0.45

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 deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Equity Turnover

Boeing Co., equity turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues 62,286  58,158  76,559  101,127  93,392 
Shareholders’ equity (deficit) (14,999) (18,316) (8,617) 339  355 
Long-term Activity Ratio
Equity turnover1 298.31 263.08
Benchmarks
Equity Turnover, Competitors2
3M Co. 2.35 2.50 3.19 3.34 2.74
Caterpillar Inc. 2.92 2.55 3.48 3.69 3.12
General Electric Co. 1.76 2.05 3.09 3.66 1.76
Honeywell International Inc. 1.85 1.86 1.98 2.30 2.35
Lockheed Martin Corp. 6.12 10.87 19.13 38.57
Raytheon Technologies Corp. 0.88 0.78 1.84 1.73 2.02
Equity Turnover, Sector
Capital Goods 2.40 2.53 3.90 4.08 3.18
Equity Turnover, Industry
Industrials 2.88 2.92 3.71 3.74 3.07

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
Equity turnover = Revenues ÷ Shareholders’ equity (deficit)
= 62,286 ÷ -14,999 =

2 Click competitor name to see calculations.