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 (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
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
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
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
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.