Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Boeing Co., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
The analysis of liquidity ratios reveals a consistent ability to cover short-term obligations, although there is a marked difference between general current liquidity and immediate cash availability. A recurring pattern of volatility is observed throughout the period, characterized by a notable contraction in liquidity indicators during the first quarter of 2024 followed by a recovery in the latter part of that year.
- Current Ratio
- A general downward trajectory is observed from March 2022 (1.30) through December 2023 (1.14). This trend was interrupted by a recovery phase, peaking at 1.32 in December 2024, before stabilizing between 1.14 and 1.23 through June 2026. The ratio remains consistently above 1.0, indicating that current assets exceed current liabilities across all reported periods.
- Quick Ratio
- The quick ratio remains significantly lower than the current ratio, fluctuating within a range of 0.22 to 0.39. A sharp decline to 0.22 was recorded in March 2024, representing the lowest point of immediate liquidity. A subsequent increase to 0.39 in December 2024 indicates a temporary improvement in the positioning of liquid assets relative to short-term debt.
- Cash Ratio
- The cash ratio exhibits a trend closely aligned with the quick ratio, reflecting a narrow margin of cash availability. The ratio reached a minimum of 0.08 in March 2024 and peaked at 0.27 in December 2024 and September 2025. The persistent and substantial gap between the current ratio and the cash ratio suggests that a significant portion of current assets is concentrated in less liquid forms, specifically inventory.
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Current Ratio
Boeing Co., current ratio calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Current assets | 124,630) | 124,141) | 128,459) | 122,132) | 127,301) | 127,662) | 127,998) | 109,436) | 114,439) | 106,532) | 109,275) | 106,935) | 107,412) | 108,811) | 109,523) | 109,251) | 106,000) | 106,012) | ||||||
| Current liabilities | 109,563) | 105,547) | 108,115) | 103,324) | 103,376) | 103,654) | 97,078) | 97,300) | 96,630) | 93,258) | 95,827) | 93,062) | 92,076) | 93,510) | 90,052) | 89,618) | 84,799) | 81,692) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Current ratio1 | 1.14 | 1.18 | 1.19 | 1.18 | 1.23 | 1.23 | 1.32 | 1.12 | 1.18 | 1.14 | 1.14 | 1.15 | 1.17 | 1.16 | 1.22 | 1.22 | 1.25 | 1.30 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||
| Caterpillar Inc. | — | 1.35 | 1.44 | 1.38 | 1.34 | 1.32 | 1.42 | 1.40 | 1.28 | 1.35 | 1.35 | 1.45 | 1.33 | 1.43 | 1.39 | 1.41 | 1.45 | 1.44 | ||||||
| Eaton Corp. plc | 1.24 | 1.19 | 1.32 | 1.28 | 1.24 | 1.31 | 1.50 | 1.53 | 1.56 | 1.56 | 1.51 | 1.45 | 1.53 | 1.50 | 1.38 | 1.28 | 0.97 | 0.99 | ||||||
| GE Aerospace | 0.98 | 1.01 | 1.04 | 1.08 | 1.04 | 1.08 | 1.09 | 1.13 | 1.14 | 1.17 | 1.18 | 1.17 | 1.25 | 1.25 | 1.16 | 1.10 | 1.13 | 1.19 | ||||||
| Honeywell International Inc. | 1.21 | 1.39 | 1.30 | 1.36 | 1.29 | 1.25 | 1.31 | 1.44 | 1.21 | 1.66 | 1.27 | 1.35 | 1.41 | 1.26 | 1.25 | 1.24 | 1.20 | 1.21 | ||||||
| Lockheed Martin Corp. | 1.19 | 1.14 | 1.09 | 1.13 | 0.98 | 1.08 | 1.13 | 1.30 | 1.24 | 1.30 | 1.21 | 1.36 | 1.36 | 1.30 | 1.32 | 1.28 | 1.27 | 1.27 | ||||||
| RTX Corp. | 1.01 | 1.02 | 1.03 | 1.07 | 1.01 | 1.01 | 0.99 | 0.99 | 0.99 | 1.07 | 1.04 | 1.03 | 1.10 | 1.13 | 1.09 | 1.09 | 1.10 | 1.16 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q2 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 124,630 ÷ 109,563 = 1.14
2 Click competitor name to see calculations.
The liquidity position of the entity exhibits a general compression over the period from March 2022 to June 2026. While both current assets and current liabilities increased in absolute terms, the rate of growth in liabilities generally outpaced or mirrored the growth in assets, leading to a gradual decline in the current ratio from its initial peak of 1.30.
- Current Asset Trajectory
- Current assets show a general upward trend, starting at 106.0 billion in March 2022 and reaching a peak of 128.5 billion in December 2025, before settling at 124.6 billion by June 2026. A notable increase occurred between September 2024 and December 2024, where assets grew from 109.4 billion to 128.0 billion, indicating a significant short-term accumulation of liquid resources.
- Current Liability Expansion
- A consistent and steady increase in current liabilities is observed throughout the analysis period. Obligations rose from 81.7 billion in March 2022 to 109.6 billion in June 2026. This upward trend reflects a sustained growth in short-term financial obligations, which has put downward pressure on the overall liquidity ratio.
- Current Ratio Dynamics
- The current ratio shifted from 1.30 in March 2022 to a low of 1.12 in September 2024. An isolated recovery is observed in December 2023, where the ratio peaked at 1.32, driven by a surge in current assets. Following this peak, the ratio stabilized within a narrower range between 1.14 and 1.23 through 2025 and 2026, suggesting a transition toward a more static liquidity profile despite the increase in total debt and asset volume.
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Quick Ratio
Boeing Co., quick ratio calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Cash and cash equivalents | 7,239) | 9,441) | 10,921) | 6,173) | 7,087) | 10,142) | 13,801) | 9,961) | 10,894) | 6,914) | 12,691) | 6,811) | 7,254) | 10,812) | 14,614) | 13,494) | 10,090) | 7,409) | ||||||
| Short-term and other investments | 12,783) | 11,464) | 18,479) | 16,811) | 15,880) | 13,532) | 12,481) | 509) | 1,727) | 615) | 3,274) | 6,561) | 6,508) | 3,955) | 2,606) | 763) | 1,358) | 4,873) | ||||||
| Accounts receivable, net | 3,515) | 3,485) | 2,921) | 3,314) | 3,190) | 3,204) | 2,631) | 2,894) | 3,155) | 2,959) | 2,649) | 3,032) | 2,945) | 2,862) | 2,517) | 2,673) | 2,996) | 2,407) | ||||||
| Unbilled receivables, net | 9,660) | 9,793) | 9,158) | 9,032) | 9,261) | 9,031) | 8,363) | 9,356) | 9,660) | 9,673) | 8,317) | 9,184) | 9,357) | 9,689) | 8,634) | 9,316) | 9,394) | 8,991) | ||||||
| Current portion of financing receivables, net | —) | —) | —) | —) | 16) | 202) | 207) | 457) | 60) | 57) | 99) | 88) | 85) | 133) | 154) | 155) | 159) | 157) | ||||||
| Total quick assets | 33,197) | 34,183) | 41,479) | 35,330) | 35,434) | 36,111) | 37,483) | 23,177) | 25,496) | 20,218) | 27,030) | 25,676) | 26,149) | 27,451) | 28,525) | 26,401) | 23,997) | 23,837) | ||||||
| Current liabilities | 109,563) | 105,547) | 108,115) | 103,324) | 103,376) | 103,654) | 97,078) | 97,300) | 96,630) | 93,258) | 95,827) | 93,062) | 92,076) | 93,510) | 90,052) | 89,618) | 84,799) | 81,692) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Quick ratio1 | 0.30 | 0.32 | 0.38 | 0.34 | 0.34 | 0.35 | 0.39 | 0.24 | 0.26 | 0.22 | 0.28 | 0.28 | 0.28 | 0.29 | 0.32 | 0.29 | 0.28 | 0.29 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||
| Caterpillar Inc. | — | 0.72 | 0.86 | 0.78 | 0.72 | 0.69 | 0.80 | 0.76 | 0.69 | 0.73 | 0.74 | 0.76 | 0.74 | 0.79 | 0.79 | 0.78 | 0.81 | 0.84 | ||||||
| Eaton Corp. plc | 0.62 | 0.61 | 0.66 | 0.65 | 0.63 | 0.74 | 0.85 | 0.87 | 0.94 | 0.93 | 0.91 | 0.84 | 0.85 | 0.78 | 0.73 | 0.65 | 0.50 | 0.51 | ||||||
| GE Aerospace | 0.62 | 0.67 | 0.71 | 0.73 | 0.70 | 0.74 | 0.78 | 0.81 | 0.81 | 0.76 | 0.78 | 0.76 | 0.84 | 0.86 | 0.81 | 0.73 | 0.75 | 0.82 | ||||||
| Honeywell International Inc. | 0.76 | 0.93 | 0.88 | 0.98 | 0.90 | 0.83 | 0.88 | 0.96 | 0.83 | 1.18 | 0.84 | 0.92 | 0.98 | 0.84 | 0.88 | 0.85 | 0.82 | 0.84 | ||||||
| Lockheed Martin Corp. | 0.97 | 0.91 | 0.90 | 0.93 | 0.80 | 0.87 | 0.92 | 1.10 | 1.05 | 1.08 | 0.99 | 1.14 | 1.14 | 1.07 | 1.09 | 1.06 | 1.03 | 1.03 | ||||||
| RTX Corp. | 0.65 | 0.65 | 0.67 | 0.67 | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 | 0.64 | 0.63 | 0.63 | 0.68 | 0.71 | 0.69 | 0.70 | 0.71 | 0.76 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q2 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 33,197 ÷ 109,563 = 0.30
2 Click competitor name to see calculations.
The analyzed period is characterized by a persistent liquidity deficit, as the quick ratio remains significantly below the 1.0 threshold throughout the entire timeframe. This indicates a consistent inability to cover short-term obligations using only the most liquid assets, suggesting a heavy reliance on inventory liquidation or external financing to meet immediate liabilities.
- Quick Ratio Fluctuations
- The quick ratio exhibited relative stability between 0.28 and 0.32 from March 2022 through December 2023. A notable contraction occurred in March 2024, where the ratio reached a period low of 0.22. This was followed by a sharp recovery, peaking at 0.39 in December 2024, before stabilizing within a range of 0.30 to 0.38 throughout 2025 and the first half of 2026.
- Quick Assets Volatility
- Total quick assets showed a general upward trajectory but with significant volatility. After a steady increase to 28,525 million USD by December 2022, assets experienced a decline in early 2024, dropping to 20,218 million USD. A substantial recovery followed in late 2024, with assets rising to 37,483 million USD. The highest liquidity level was recorded in December 2025 at 41,479 million USD, although a subsequent decline to 33,197 million USD was observed by June 2026.
- Expansion of Current Liabilities
- Current liabilities demonstrated a consistent and steady increase over the analyzed period. Starting at 81,692 million USD in March 2022, obligations grew to 109,563 million USD by June 2026. This continuous growth in short-term debt and obligations has acted as a primary driver in suppressing the quick ratio, offsetting the periodic gains in quick assets.
- Liquidity Correlation
- The correlation between the increase in quick assets and the resulting quick ratio is evident in the December 2024 peak. The spike in the ratio to 0.39 was driven by a rapid increase in quick assets during a period where current liabilities remained relatively flat. Conversely, the liquidity trough in March 2024 resulted from a simultaneous decrease in quick assets and a sustained high level of current liabilities.
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Cash Ratio
Boeing Co., cash ratio calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Cash and cash equivalents | 7,239) | 9,441) | 10,921) | 6,173) | 7,087) | 10,142) | 13,801) | 9,961) | 10,894) | 6,914) | 12,691) | 6,811) | 7,254) | 10,812) | 14,614) | 13,494) | 10,090) | 7,409) | ||||||
| Short-term and other investments | 12,783) | 11,464) | 18,479) | 16,811) | 15,880) | 13,532) | 12,481) | 509) | 1,727) | 615) | 3,274) | 6,561) | 6,508) | 3,955) | 2,606) | 763) | 1,358) | 4,873) | ||||||
| Total cash assets | 20,022) | 20,905) | 29,400) | 22,984) | 22,967) | 23,674) | 26,282) | 10,470) | 12,621) | 7,529) | 15,965) | 13,372) | 13,762) | 14,767) | 17,220) | 14,257) | 11,448) | 12,282) | ||||||
| Current liabilities | 109,563) | 105,547) | 108,115) | 103,324) | 103,376) | 103,654) | 97,078) | 97,300) | 96,630) | 93,258) | 95,827) | 93,062) | 92,076) | 93,510) | 90,052) | 89,618) | 84,799) | 81,692) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Cash ratio1 | 0.18 | 0.20 | 0.27 | 0.22 | 0.22 | 0.23 | 0.27 | 0.11 | 0.13 | 0.08 | 0.17 | 0.14 | 0.15 | 0.16 | 0.19 | 0.16 | 0.14 | 0.15 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||
| Caterpillar Inc. | — | 0.11 | 0.27 | 0.21 | 0.16 | 0.11 | 0.21 | 0.17 | 0.13 | 0.15 | 0.20 | 0.20 | 0.21 | 0.21 | 0.22 | 0.21 | 0.21 | 0.22 | ||||||
| Eaton Corp. plc | 0.06 | 0.06 | 0.09 | 0.06 | 0.06 | 0.20 | 0.26 | 0.25 | 0.34 | 0.32 | 0.34 | 0.25 | 0.20 | 0.09 | 0.09 | 0.08 | 0.07 | 0.06 | ||||||
| GE Aerospace | 0.23 | 0.27 | 0.32 | 0.36 | 0.33 | 0.38 | 0.42 | 0.47 | 0.47 | 0.43 | 0.45 | 0.42 | 0.49 | 0.52 | 0.44 | 0.35 | 0.37 | 0.44 | ||||||
| Honeywell International Inc. | 0.40 | 0.56 | 0.55 | 0.59 | 0.49 | 0.46 | 0.52 | 0.56 | 0.47 | 0.73 | 0.44 | 0.46 | 0.51 | 0.40 | 0.51 | 0.44 | 0.43 | 0.49 | ||||||
| Lockheed Martin Corp. | 0.16 | 0.09 | 0.18 | 0.15 | 0.05 | 0.09 | 0.13 | 0.18 | 0.14 | 0.16 | 0.09 | 0.21 | 0.21 | 0.14 | 0.16 | 0.15 | 0.11 | 0.12 | ||||||
| RTX Corp. | 0.13 | 0.12 | 0.13 | 0.11 | 0.09 | 0.10 | 0.11 | 0.13 | 0.12 | 0.12 | 0.14 | 0.12 | 0.13 | 0.15 | 0.16 | 0.14 | 0.13 | 0.17 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q2 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 20,022 ÷ 109,563 = 0.18
2 Click competitor name to see calculations.
An analysis of the liquidity position reveals significant volatility in cash holdings contrasted with a steady increase in short-term obligations. The cash ratio demonstrates a cyclical pattern of contraction and expansion, reflecting fluctuations in immediate liquidity available to cover current liabilities.
- Current Liabilities Trend
- Short-term obligations exhibited a consistent upward trajectory throughout the analyzed period. Current liabilities grew from 81,692 million USD in March 2022 to 109,563 million USD by June 2026, representing a sustained increase in the company's immediate financial obligations.
- Cash Asset Fluctuations
- Total cash assets showed marked instability. After maintaining a range between 11,448 million USD and 17,220 million USD through 2022 and 2023, assets reached a period low of 7,529 million USD in March 2024. A substantial recovery followed, with assets peaking at 29,400 million USD in December 2025 before retreating to 20,022 million USD by June 2026.
- Cash Ratio Performance
- The cash ratio remained relatively stable between 0.14 and 0.19 from March 2022 through December 2023. A sharp decline to 0.08 was observed in March 2024, marking the lowest liquidity point in the series. The ratio subsequently improved, reaching peaks of 0.27 in December 2024 and December 2025, before experiencing a moderate downward trend to 0.18 by June 2026.
- Liquidity Correlation
- The overall liquidity position was primarily driven by changes in cash assets rather than fluctuations in liabilities, as the latter grew linearly. The peak cash ratio in late 2024 and 2025 coincided with the highest recorded levels of total cash assets, suggesting a temporary strengthening of the immediate solvency margin.
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