Boeing Co. (NYSE:BA)

Price to Sales (P/S) Ratio Trend

The Price to Sales (P/S) ratio series commences in December 2020 at 1.96 and exhibits some volatility through the subsequent quarters. Initially, the ratio ascends to a peak of 2.44 in the second quarter of 2021 before gradually declining over the remainder of 2021 to 1.30 by the last quarter. This downward movement suggests a relative decrease in market valuation per unit of sales during that period.

In 2022, a reversal in this trend occurs as the P/S ratio experiences a robust recovery, climbing back towards 1.9 in the first quarter, followed by minor fluctuations in the range of 1.42 to 1.91 over the succeeding quarters. This fluctuation reflects variability in market sentiment or changes in sales performance relative to stock price.

The trend continues into 2023 and early 2024 with oscillations around a range of approximately 1.3 to 1.6, indicating moderate market valuation stability relative to sales levels. Most recently, the ratio rises again to reach 1.98 by the third quarter of 2024, before slightly declining to 1.87 in the first quarter of 2025.

Overall, the P/S ratio displays a cyclical pattern with phases of increase and decrease, potentially reflecting underlying changes in company sales performance, market conditions, or investor expectations. No data are available for P/E, P/OP, and P/BV ratios throughout the analyzed periods, limiting contextual valuation analysis across multiple ratios.

The analysis of the quarterly financial data reveals several notable trends in share price and earnings per share (EPS) over the examined period.

Share Price Trend

The share price exhibited significant volatility across the quarters. From March 2020 to December 2021, the share price increased from 139 US$ to a peak of 235.46 US$ by March 2021, followed by a general decline with intermittent fluctuations. By March 2022, the price had decreased to 154.46 US$, indicating a considerable downward adjustment after the earlier peak. Subsequently, the share price showed some recovery and volatility with values oscillating between approximately 133.79 US$ and 232.8 US$ from mid-2022 to late 2023. In the most recent quarters up to March 2025, the share price again experienced fluctuations, ranging between 157.06 US$ and 190.6 US$, with a slight decline towards the end of the period measured at 172.37 US$.

Earnings Per Share (EPS) Trend

EPS data starts from December 2020 and indicates consistent negative earnings throughout the observed period. The EPS values show an improving trend overall, moving from a low of -20.37 US$ per share in December 2020 to less negative figures around -3.5 to -4.68 US$ by December 2023. However, this improvement was not sustained in later quarters, where EPS values again deteriorated, reaching -15.83 US$ by December 2024 and slightly improving to -15.46 US$ in March 2025. This pattern suggests fluctuating profitability pressures during the period, with only temporary relief in the middle quarters.

Price to Earnings (P/E) Ratio

No data on the P/E ratio was provided across the periods, precluding analysis in this area.

Overall Financial Health Indicators

The combination of share price volatility and persistent negative EPS indicates a challenging earnings environment, despite market valuation adjustments. Shareholders faced considerable uncertainty, as reflected in the fluctuating stock price, while the company struggled with negative profitability that only marginally improved before deteriorating again. This dynamic might imply underlying operational or market challenges contributing to inconsistent financial performance over the analyzed quarters.

Share Price Trend

The share price displayed significant volatility over the observed period. Starting at $139 in March 2020, there was a notable increase reaching a peak of $235.46 in March 2021. Following this peak, the share price generally declined, hitting lows around the $133-$157 range throughout 2022 and early 2023. There was a brief recovery phase with prices oscillating between $177 and $211 during late 2023 and early 2024. More recently, from March 2024 to March 2025, the price remained relatively stable between $157 and $190, with slight fluctuations but no clear upward or downward trend.

Operating Profit Per Share (OPPS)

Operating profit per share figures were missing for the initial quarters in 2020. Available data from December 2020 onwards reveal persistent negative values, indicating operating losses on a per-share basis. The losses started at -$21.90 in December 2020 and gradually improved to smaller negative amounts such as -$1.16 in June 2024. However, this improvement was not linear; intermittent increases in losses occurred, for example, -$10.76 in September 2024 and -$14.27 in December 2024. This indicates volatility in operating profitability without a consistent trend towards profitability.

Relationship Between Share Price and Operating Profit Per Share

Despite the ongoing operating losses exhibited by the negative operating profit per share, the share price showed mixed responses. The peak in share price during early 2021 occurred despite negative operating profits, suggesting that market sentiment or other factors played a strong role in valuation during that period. Subsequent declines in share price coincided with continuing losses but were not strictly correlated, indicating that the share price may be influenced by external factors beyond operating profitability.

Missing P/OP Ratio Data

The price-to-operating-profit (P/OP) ratio data were not available, limiting the ability to analyze valuation measures directly related to operating profit. This absence hinders a comprehensive assessment of market valuation in relation to the company’s operating profitability.

Overall Insights

The data shows a company experiencing operating loss periods through all available data points, with some reduction in losses over time but no achievement of positive operating profit per share. Share price behavior was notably volatile, with periods of strong gains despite operating losses, suggesting that other factors such as market expectations, macroeconomic conditions, or investor sentiment significantly influenced the market valuation. The lack of P/OP ratio data restricts further ratio-based valuation insights.

The financial data reveals several notable trends in share price, sales per share, and price-to-sales (P/S) ratio over the observed periods. Share price displayed considerable volatility throughout the timeframe, peaking at 235.46 US$ in March 2021 and experiencing subsequent fluctuations with notable declines and recoveries up to March 2025, where it recorded 172.37 US$. This pattern highlights fluctuations in market sentiment or company performance impacts on stock valuation.

Sales per share started to be recorded from March 2021, showing a generally upward trend from 99.76 US$ to a high of 127.5 US$ by March 2024. Following this peak, sales per share declined substantially to 88.68 US$ in March 2025. This trajectory suggests initial growth in company sales performance, followed by a downturn towards the end of the period under review.

The P/S ratio illustrates valuation dynamics relative to sales, revealing variation across the periods. Initially, it demonstrates an increasing trend from 1.96 to 2.44 between March and June 2021. Afterwards, it mostly exhibited a downward trajectory with intermittent recoveries, settling near 1.87 by March 2025. These changes imply fluctuations in how the market prices company sales, reflecting differing investor confidence or profitability considerations over time.

Summary of Key Observations

Share price showed significant volatility, with peak values around early 2021 and mid-2023, followed by declines and partial recoveries.

Sales per share increased steadily for several quarters, indicating growing sales performance, but declined sharply in the latest periods analyzed.

The P/S ratio displayed fluctuations, initially rising, then exhibiting a general decrease with some short-term rebounds, suggesting changing market valuations relative to sales.

The most recent data points indicate weakening sales per share and a moderate decline in share price, which may warrant further investigation into underlying operational or market factors.

The share price exhibits significant fluctuations over the examined quarters. Starting at $139 in March 2020, the price generally increased to peak at around $235 in March 2021. However, after this peak, the share price declined through 2021 and into early 2022, reaching a lower point near $133 in September 2022. Subsequently, there was a recovery period in late 2022 and early 2023, with the share price rising again to about $233 in June 2023. Following this, another downward trend is observed towards the end of 2023, with some recovery phases in early 2024. The latest data points show the price fluctuating between approximately $157 and $175, indicating volatility but no clear sustained positive or negative direction.

The book value per share (BVPS) remains consistently negative throughout the entire period, indicating that the company's liabilities exceed its assets from an accounting perspective. The BVPS starts at around -$17 in March 2020 and worsens notably, reaching a trough near -$38 by December 2024. Interestingly, in the most recent quarters of early 2025, the BVPS shows a significant improvement to approximately -$5, suggesting a partial recovery in the company's net asset position.

The price-to-book value (P/BV) ratio data is missing, which limits the ability to analyze valuation relative to book value comprehensively. Nonetheless, given the negative BVPS throughout most periods, the ratio would not be meaningful or calculable in standard terms.

Overall, the financial data reflects a company experiencing periods of strong share price gains and declines, coupled with a persistently negative, though recently improving, book value per share. This pattern may suggest underlying asset challenges paired with market perceptions fluctuating based on broader business or economic conditions. The recent improvement in BVPS could indicate restructuring, asset revaluation, or improvements in financial management, warranting further investigation into underlying causes.

Share Price Trend

Volatile with peaks in early 2021 and mid-2023, troughs in late 2022 and late 2023, fluctuating around $150-$230.

Book Value Per Share

Consistently negative, worsening until late 2024, then improving sharply in 2025, moving from approximately -$38 to -$5.

Valuation (P/BV Ratio)

Data unavailable; negative BVPS limits meaningful assessment.

Implications

Negative book value reflects asset/liability imbalance; share price volatility may reflect market uncertainty, operational performance, or external factors. Recent BVPS improvement could suggest positive changes in financial health.