Boeing Co. (BA)

Annual Data

Quarterly Data

Profitability ratios measure the company's ability to generate profitable sales from its resources (assets).

Boeing Co., profitability ratios

	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013
Return on Sales
Gross profit margin	%	%	%	%	%
Operating profit margin	%	%	%	%	%
Net profit margin	%	%	%	%	%
Return on Investment
Return on equity (ROE)	%	%	%	%	%
Return on assets (ROA)	%	%	%	%	%

Source: Based on data from Boeing Co. Annual Reports

Ratio	Description	The company
Gross profit margin	Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures.	Boeing Co.'s gross profit margin deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.
Operating profit margin	A profitability ratio calculated as operating income divided by revenue.	Boeing Co.'s operating profit margin deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.
Net profit margin	An indicator of profitability, calculated as net income divided by revenue.	Boeing Co.'s net profit margin deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.
ROE	A profitability ratio calculated as net income divided by shareholders' equity.	Boeing Co.'s ROE improved from 2015 to 2016 and from 2016 to 2017.
ROA	A profitability ratio calculated as net income divided by total assets.	Boeing Co.'s ROA deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.

Boeing Co., gross profit margin calculation

	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013
Selected Financial Data (USD $ in millions)
Gross profit
Revenues
Ratio
Gross profit margin¹	%	%	%	%	%
Benchmarks
Gross Profit Margin, Competitors
General Dynamics Corp.	%	%	%	%	%
Lockheed Martin Corp.	%	%	%	%	%
Northrop Grumman Corp.	%	%	%	%	%
Raytheon Co.	%	%	%	%	%
United Technologies Corp.	%	%	%	%	%

Source: Based on data from Boeing Co. Annual Reports

2017 Calculations

¹ Gross profit margin = 100 × Gross profit ÷ Revenues
= 100 × hidden ÷ hidden = hidden %

Ratio	Description	The company
Gross profit margin	Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures.	Boeing Co.'s gross profit margin deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.

Boeing Co., operating profit margin calculation, comparison to benchmarks

	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013
Selected Financial Data (USD $ in millions)
Earnings from operations
Revenues
Ratio
Operating profit margin¹	%	%	%	%	%
Benchmarks
Operating Profit Margin, Competitors
General Dynamics Corp.	%	%	%	%	%
Lockheed Martin Corp.	%	%	%	%	%
Northrop Grumman Corp.	%	%	%	%	%
Raytheon Co.	%	%	%	%	%
United Technologies Corp.	%	%	%	%	%
Operating Profit Margin, Sector
Aerospace & Defense	%	%	%	%	%
Operating Profit Margin, Industry
Industrials	%	%	%	%	%

Source: Based on data from Boeing Co. Annual Reports

2017 Calculations

¹ Operating profit margin = 100 × Earnings from operations ÷ Revenues
= 100 × hidden ÷ hidden = hidden %

Ratio	Description	The company
Operating profit margin	A profitability ratio calculated as operating income divided by revenue.	Boeing Co.'s operating profit margin deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.

Boeing Co., net profit margin calculation, comparison to benchmarks

	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013
Selected Financial Data (USD $ in millions)
Net earnings related to parent
Revenues
Ratio
Net profit margin¹	%	%	%	%	%
Benchmarks
Net Profit Margin, Competitors
General Dynamics Corp.	%	%	%	%	%
Lockheed Martin Corp.	%	%	%	%	%
Northrop Grumman Corp.	%	%	%	%	%
Raytheon Co.	%	%	%	%	%
United Technologies Corp.	%	%	%	%	%
Net Profit Margin, Sector
Aerospace & Defense	%	%	%	%	%
Net Profit Margin, Industry
Industrials	%	%	%	%	%

Source: Based on data from Boeing Co. Annual Reports

2017 Calculations

¹ Net profit margin = 100 × Net earnings related to parent ÷ Revenues
= 100 × hidden ÷ hidden = hidden %

Ratio	Description	The company
Net profit margin	An indicator of profitability, calculated as net income divided by revenue.	Boeing Co.'s net profit margin deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.

Boeing Co., ROE calculation, comparison to benchmarks

	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013
Selected Financial Data (USD $ in millions)
Net earnings related to parent
Shareholders’ equity
Ratio
ROE¹	%	%	%	%	%
Benchmarks
ROE, Competitors
General Dynamics Corp.	%	%	%	%	%
Lockheed Martin Corp.	%	%	%	%	%
Northrop Grumman Corp.	%	%	%	%	%
Raytheon Co.	%	%	%	%	%
United Technologies Corp.	%	%	%	%	%
ROE, Sector
Aerospace & Defense	%	%	%	%	%
ROE, Industry
Industrials	%	%	%	%	%

Source: Based on data from Boeing Co. Annual Reports

2017 Calculations

¹ ROE = 100 × Net earnings related to parent ÷ Shareholders’ equity
= 100 × hidden ÷ hidden = hidden %

Ratio	Description	The company
ROE	A profitability ratio calculated as net income divided by shareholders' equity.	Boeing Co.'s ROE improved from 2015 to 2016 and from 2016 to 2017.

Boeing Co., ROA calculation, comparison to benchmarks

	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013
Selected Financial Data (USD $ in millions)
Net earnings related to parent
Total assets
Ratio
ROA¹	%	%	%	%	%
Benchmarks
ROA, Competitors
General Dynamics Corp.	%	%	%	%	%
Lockheed Martin Corp.	%	%	%	%	%
Northrop Grumman Corp.	%	%	%	%	%
Raytheon Co.	%	%	%	%	%
United Technologies Corp.	%	%	%	%	%
ROA, Sector
Aerospace & Defense	%	%	%	%	%
ROA, Industry
Industrials	%	%	%	%	%

Source: Based on data from Boeing Co. Annual Reports

2017 Calculations

¹ ROA = 100 × Net earnings related to parent ÷ Total assets
= 100 × hidden ÷ hidden = hidden %

Ratio	Description	The company
ROA	A profitability ratio calculated as net income divided by total assets.	Boeing Co.'s ROA deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.

	Boeing Co.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

	All companies
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

Profitability Analysis