Boeing Co. (NYSE:BA)

Net Fixed Asset Turnover

The Net Fixed Asset Turnover ratio shows a generally increasing trend from the first recorded value in December 2020 at 4.92 to a peak of 7.3 in March 2024. This indicates improved efficiency in utilizing fixed assets to generate revenue over this period. After reaching the peak, the ratio experiences a gradual decline, dropping to 5.83 by September 2024, followed by a slight recovery towards the year-end of 2025. Overall, the trend suggests enhanced asset management with some volatility in the later periods.

Total Asset Turnover

Total Asset Turnover begins at 0.38 in December 2020 and generally increases to 0.57 by March 2024, reflecting better overall asset utilization in generating sales. This ratio remains relatively stable around 0.45 for several quarters before the upward trend starts. After reaching 0.57, a minor decline occurs, falling to 0.43 by September 2024. It then marginally recovers to 0.49 by June 2025. This pattern parallels the trend in Net Fixed Asset Turnover, indicating some consistency in asset use efficiency across different asset categories.

Equity Turnover

The Equity Turnover ratio data is not available for any period. No analysis or trend observation can be made regarding this metric.

Revenues Trend

Revenues exhibit fluctuations over the observed periods, with a notable decline during early 2020, likely reflecting external challenges. After reaching a low point in the second quarter of 2020, revenues gradually recovered, showing intermittent increases and decreases throughout 2021 and 2022. Starting from the fourth quarter of 2022, revenues demonstrate a clearer upward tendency, peaking in the fourth quarter of 2023. However, subsequent quarters display some volatility but overall maintain relatively high levels compared to earlier periods.

Property, Plant and Equipment (PPE), Net of Accumulated Depreciation Trend

The net value of property, plant, and equipment shows a consistent declining trend from the first quarter of 2020 through the first quarter of 2023, suggesting ongoing depreciation exceeding new asset additions or disposals. From the second quarter of 2023 onward, the net PPE stabilizes and begins a slight upward trajectory, indicating possible new investments or acquisitions of assets, which offset depreciation. This change also corresponds with a more stabilized or slightly increasing level of PPE net value into 2025.

Net Fixed Asset Turnover Ratio Trend

The net fixed asset turnover ratio, which measures how efficiently the company uses its fixed assets to generate revenue, shows a positive trend from the end of 2020 through the first quarter of 2024. Starting at 4.92 in the third quarter of 2020, the ratio improves steadily to peak around 7.3 by the fourth quarter of 2023. This indicates improved asset utilization during this period. After this peak, a decline is visible through 2024, falling back to around 5.83 by the third quarter, before recovering slightly near the end of 2024 and into mid-2025. This pattern suggests temporary challenges or changes in operational efficiency impacting asset use.

Overall Observations

The data reflects a period of initial stress in revenues and asset values during 2020, followed by gradual recovery and improved asset utilization efficiency over the next several years. The rebound in revenues and net fixed asset turnover ratio implies operational improvements, while the stabilization and slight increase in PPE indicate renewed investments in fixed assets. The recent volatility in revenues and ratios in late 2024 and early 2025 may warrant further monitoring to assess sustainability of these trends.

The financial data reveals several notable trends in the quarterly performance over the observed periods. Revenues exhibit a fluctuating pattern with periods of recovery and decline, while total assets demonstrate a gradual overall decrease followed by stabilization. The total asset turnover ratio indicates an improving efficiency in asset utilization over time, with some recent variability.

Revenues

Revenues started at a high point of 16,908 million US dollars in Q1 2020, dropped significantly to 11,807 million in Q2 2020, reflecting a sharp contraction likely driven by external factors at that time. Subsequently, revenues partially recovered through 2020 and into 2021, reaching peaks around 16,998 million in Q2 2021. However, fluctuations persisted with several ups and downs—for example, a decline to 13,991 million in Q1 2022 followed by an increase to nearly 19,980 million by Q4 2022. The pattern of volatility continued in 2023 and 2024, with revenues peaking at 22,749 million in Q2 2025, showing an overall upward trajectory in the latest periods despite intermittent decreases. This suggests gradual improvement intermixed with operational or market challenges affecting consistency.

Total assets

Total assets showed a decline from 143,075 million in the first quarter of 2020 to about 134,281 million by Q4 2021, indicating asset base reduction or divestment during this timeframe. The asset level then stabilized and remained relatively steady in the 134,000 to 156,000 million range from 2022 onwards. The slight increase starting Q1 2025 up to 156,494 million indicates some asset growth or acquisition activity later in the period after prior contraction phases. This overall trend signals an initial consolidation or scaling down of asset holdings, followed by stabilization and moderate growth.

Total asset turnover ratio

The total asset turnover ratio was only available starting in Q3 2020 and measured the efficiency of asset usage to generate revenues. It began at 0.38 and showed a consistent upward trend reaching a peak of 0.57 by the end of 2023, reflecting improved asset utilization. After this peak, the ratio slightly declined to around 0.43-0.44 in early to mid-2025, suggesting a recent decrease in efficiency though still remaining higher compared with early data points. This movement indicates that the company improved how effectively it used its assets to generate sales over the period, even if some recent fluctuations occurred.

In summary, the company’s revenue generation has recovered gradually from an initial downturn but remains subject to volatility. The asset base underwent a contraction phase with later stabilization and modest growth. Efficiency in using assets to produce revenues improved markedly over these years before some minor signs of softness. The data points to an organization adapting to evolving market and operational conditions, enhancing asset management and gradually increasing income generation capability with intermittent challenges.

The financial data reveals several notable trends regarding revenues and shareholders’ deficit over multiple quarters.

Revenues

Revenues show considerable volatility across the reported periods. Initially, in the early 2020 quarters, revenues are relatively high, peaking at 16,908 million USD in March 2020, then decreasing sharply to 11,807 million USD in June 2020, likely due to external factors impacting the business climate. Subsequently, there is a gradual recovery and fluctuations, with revenues oscillating between approximately 14,000 million and 17,000 million USD through 2021.

Starting from late 2021 to mid-2023, the revenues exhibit a generally increasing trend, with a notable peak of nearly 22,018 million USD in December 2023. This upward trend suggests an improvement in sales or operational performance during this timeframe. However, after that peak, revenues fluctuate again, showing some contraction in early to mid-2024 but recover towards the end of 2024 and into early 2025, reaching a new high around 22,749 million USD by June 2025. This pattern indicates periodic growth spurts potentially offset by short-term challenges.

Shareholders' Deficit

The shareholders’ deficit remains substantially negative throughout the observed period, indicating that liabilities exceed equity consistently. At the beginning of the period, the deficit increases from about -9,665 million USD in March 2020 to a more pronounced deficit around -18,316 million USD in December 2020, reflecting possibly increased losses or balance sheet pressures.

Throughout 2021 and into 2022, there is intermittent improvement, with the deficit reducing (less negative) to approximately -14,440 million USD in September 2021 before slightly worsening again towards late 2022. In the early part of 2023, the deficit seems somewhat stabilized in the range of -15,000 to -17,000 million USD but begins to deteriorate more markedly by the end of 2023 and into 2024.

A sharp reduction in the deficit occurs around early 2025, dropping to approximately -3,325 million USD by June 2025. This improvement indicates a significant strengthening of the balance sheet, suggesting either recapitalization, asset sales, debt restructuring, or net profit accumulation that positively impacts equity.

General Observations

The data for equity turnover is missing, which limits insights into asset utilization efficiency or sales relative to equity held. However, from available data, the company experienced a challenging period with fluctuating revenues and significant negative equity, but recent data suggests a potential turnaround or strengthening of financial health as negative equity substantially decreases.

The cyclical behavior in revenues combined with a decreasing shareholders' deficit toward the end of the period may imply improving operational performance and/or effective financial management strategies implemented recently.