Stock Analysis on Net

Boeing Co. (NYSE:BA)

$24.99

Analysis of Solvency Ratios

Microsoft Excel

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Solvency Ratios (Summary)

Boeing Co., solvency ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Boeing Co. debt to capital ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Boeing Co. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Boeing Co. debt to assets ratio improved from 2022 to 2023 and from 2023 to 2024.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Boeing Co. debt to assets ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Boeing Co. interest coverage ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Boeing Co. fixed charge coverage ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Debt to Equity

Boeing Co., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt
Long-term debt, excluding current portion
Total debt
 
Shareholders’ deficit
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Debt to Equity, Sector
Capital Goods
Debt to Equity, Industry
Industrials

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Debt to equity = Total debt ÷ Shareholders’ deficit
= ÷ =

2 Click competitor name to see calculations.


Debt to Equity (including Operating Lease Liability)

Boeing Co., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Current portion of operating lease liabilities
Non-current portion of operating lease liabilities (included in Other long-term liabilities)
Total debt (including operating lease liability)
 
Shareholders’ deficit
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Debt to Equity (including Operating Lease Liability), Sector
Capital Goods
Debt to Equity (including Operating Lease Liability), Industry
Industrials

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ deficit
= ÷ =

2 Click competitor name to see calculations.


Debt to Capital

Boeing Co., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Shareholders’ deficit
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Debt to Capital, Sector
Capital Goods
Debt to Capital, Industry
Industrials

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Boeing Co. debt to capital ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Capital (including Operating Lease Liability)

Boeing Co., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Current portion of operating lease liabilities
Non-current portion of operating lease liabilities (included in Other long-term liabilities)
Total debt (including operating lease liability)
Shareholders’ deficit
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Debt to Capital (including Operating Lease Liability), Sector
Capital Goods
Debt to Capital (including Operating Lease Liability), Industry
Industrials

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Boeing Co. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Assets

Boeing Co., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt
Long-term debt, excluding current portion
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Debt to Assets, Sector
Capital Goods
Debt to Assets, Industry
Industrials

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Boeing Co. debt to assets ratio improved from 2022 to 2023 and from 2023 to 2024.

Debt to Assets (including Operating Lease Liability)

Boeing Co., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Current portion of operating lease liabilities
Non-current portion of operating lease liabilities (included in Other long-term liabilities)
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Debt to Assets (including Operating Lease Liability), Sector
Capital Goods
Debt to Assets (including Operating Lease Liability), Industry
Industrials

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Boeing Co. debt to assets ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024.

Financial Leverage

Boeing Co., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Total assets
Shareholders’ deficit
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Financial Leverage, Sector
Capital Goods
Financial Leverage, Industry
Industrials

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Financial leverage = Total assets ÷ Shareholders’ deficit
= ÷ =

2 Click competitor name to see calculations.


Interest Coverage

Boeing Co., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Net loss attributable to Boeing Shareholders
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest and debt expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Interest Coverage, Sector
Capital Goods
Interest Coverage, Industry
Industrials

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Boeing Co. interest coverage ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Fixed Charge Coverage

Boeing Co., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
U.S. federal statutory tax rate
Selected Financial Data (US$ in millions)
Net loss attributable to Boeing Shareholders
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest and debt expense
Earnings before interest and tax (EBIT)
Add: Operating lease expense
Earnings before fixed charges and tax
 
Interest and debt expense
Operating lease expense
Mandatory convertible preferred stock dividends accumulated during the period
Mandatory convertible preferred stock dividends accumulated during the period, tax adjustment1
Mandatory convertible preferred stock dividends accumulated during the period, after tax adjustment
Fixed charges
Solvency Ratio
Fixed charge coverage2
Benchmarks
Fixed Charge Coverage, Competitors3
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Fixed Charge Coverage, Sector
Capital Goods
Fixed Charge Coverage, Industry
Industrials

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Mandatory convertible preferred stock dividends accumulated during the period, tax adjustment = (Mandatory convertible preferred stock dividends accumulated during the period × U.S. federal statutory tax rate) ÷ (1 − U.S. federal statutory tax rate)
= ( × ) ÷ (1 − ) =

2 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

3 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Boeing Co. fixed charge coverage ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.