Analysis of Reportable Segments
Boeing Co. operates in 3 segments: Commercial Airplanes (BCA); Defense, Space & Security (BDS); and Global Services (BGS).
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
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Segment Profit Margin
Boeing Co., profit margin by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Commercial Airplanes (BCA) | |||||
| Defense, Space & Security (BDS) | |||||
| Global Services (BGS) |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Commercial Airplanes (BCA) | Commercial Airplanes (BCA) segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Defense, Space & Security (BDS) | Defense, Space & Security (BDS) segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. | |
| Global Services (BGS) | Global Services (BGS) segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Commercial Airplanes (BCA)
Boeing Co.; Commercial Airplanes (BCA); segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating earnings (loss) | |||||
| Revenues | |||||
| Segment Profitability Ratio | |||||
| Segment profit margin1 | |||||
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Segment operating earnings (loss) ÷ Revenues
= 100 × ÷ =
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Commercial Airplanes (BCA) | Commercial Airplanes (BCA) segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Defense, Space & Security (BDS)
Boeing Co.; Defense, Space & Security (BDS); segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating earnings (loss) | |||||
| Revenues | |||||
| Segment Profitability Ratio | |||||
| Segment profit margin1 | |||||
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Segment operating earnings (loss) ÷ Revenues
= 100 × ÷ =
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Defense, Space & Security (BDS) | Defense, Space & Security (BDS) segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Profit Margin: Global Services (BGS)
Boeing Co.; Global Services (BGS); segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating earnings (loss) | |||||
| Revenues | |||||
| Segment Profitability Ratio | |||||
| Segment profit margin1 | |||||
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Segment operating earnings (loss) ÷ Revenues
= 100 × ÷ =
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Global Services (BGS) | Global Services (BGS) segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Return on Assets (Segment ROA)
Boeing Co., ROA by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Commercial Airplanes (BCA) | |||||
| Defense, Space & Security (BDS) | |||||
| Global Services (BGS) |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Commercial Airplanes (BCA) | Commercial Airplanes (BCA) segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
| Defense, Space & Security (BDS) | Defense, Space & Security (BDS) segment ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. | |
| Global Services (BGS) | Global Services (BGS) segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Commercial Airplanes (BCA)
Boeing Co.; Commercial Airplanes (BCA); segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating earnings (loss) | |||||
| Assets | |||||
| Segment Profitability Ratio | |||||
| Segment ROA1 | |||||
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Segment operating earnings (loss) ÷ Assets
= 100 × ÷ =
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Commercial Airplanes (BCA) | Commercial Airplanes (BCA) segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Defense, Space & Security (BDS)
Boeing Co.; Defense, Space & Security (BDS); segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating earnings (loss) | |||||
| Assets | |||||
| Segment Profitability Ratio | |||||
| Segment ROA1 | |||||
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Segment operating earnings (loss) ÷ Assets
= 100 × ÷ =
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Defense, Space & Security (BDS) | Defense, Space & Security (BDS) segment ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment ROA: Global Services (BGS)
Boeing Co.; Global Services (BGS); segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment operating earnings (loss) | |||||
| Assets | |||||
| Segment Profitability Ratio | |||||
| Segment ROA1 | |||||
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Segment operating earnings (loss) ÷ Assets
= 100 × ÷ =
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Global Services (BGS) | Global Services (BGS) segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover
Boeing Co., asset turnover by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Commercial Airplanes (BCA) | |||||
| Defense, Space & Security (BDS) | |||||
| Global Services (BGS) |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Commercial Airplanes (BCA) | Commercial Airplanes (BCA) segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Defense, Space & Security (BDS) | Defense, Space & Security (BDS) segment asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. | |
| Global Services (BGS) | Global Services (BGS) segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Commercial Airplanes (BCA)
Boeing Co.; Commercial Airplanes (BCA); segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | |||||
| Assets | |||||
| Segment Activity Ratio | |||||
| Segment asset turnover1 | |||||
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Assets
= ÷ =
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Commercial Airplanes (BCA) | Commercial Airplanes (BCA) segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Defense, Space & Security (BDS)
Boeing Co.; Defense, Space & Security (BDS); segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | |||||
| Assets | |||||
| Segment Activity Ratio | |||||
| Segment asset turnover1 | |||||
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Assets
= ÷ =
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Defense, Space & Security (BDS) | Defense, Space & Security (BDS) segment asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Asset Turnover: Global Services (BGS)
Boeing Co.; Global Services (BGS); segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | |||||
| Assets | |||||
| Segment Activity Ratio | |||||
| Segment asset turnover1 | |||||
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Assets
= ÷ =
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Global Services (BGS) | Global Services (BGS) segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation
Boeing Co., capital expenditures to depreciation by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Commercial Airplanes (BCA) | |||||
| Defense, Space & Security (BDS) | |||||
| Global Services (BGS) |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Commercial Airplanes (BCA) | Commercial Airplanes (BCA) segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Defense, Space & Security (BDS) | Defense, Space & Security (BDS) segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. | |
| Global Services (BGS) | Global Services (BGS) segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Commercial Airplanes (BCA)
Boeing Co.; Commercial Airplanes (BCA); segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | |||||
| Depreciation and amortization | |||||
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | |||||
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= ÷ =
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Commercial Airplanes (BCA) | Commercial Airplanes (BCA) segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Defense, Space & Security (BDS)
Boeing Co.; Defense, Space & Security (BDS); segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | |||||
| Depreciation and amortization | |||||
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | |||||
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= ÷ =
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Defense, Space & Security (BDS) | Defense, Space & Security (BDS) segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment Capital Expenditures to Depreciation: Global Services (BGS)
Boeing Co.; Global Services (BGS); segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | |||||
| Depreciation and amortization | |||||
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | |||||
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= ÷ =
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Global Services (BGS) | Global Services (BGS) segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Revenues
Boeing Co., revenues by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Commercial Airplanes (BCA) | |||||
| Defense, Space & Security (BDS) | |||||
| Global Services (BGS) | |||||
| Unallocated items, eliminations and other | |||||
| Total |
Based on: 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), 10-K (reporting date: 2019-12-31).
Segment operating earnings (loss)
Boeing Co., segment operating earnings (loss) by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Commercial Airplanes (BCA) | |||||
| Defense, Space & Security (BDS) | |||||
| Global Services (BGS) | |||||
| Total |
Based on: 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), 10-K (reporting date: 2019-12-31).
Assets
Boeing Co., assets by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Commercial Airplanes (BCA) | |||||
| Defense, Space & Security (BDS) | |||||
| Global Services (BGS) | |||||
| Unallocated items, eliminations and other | |||||
| Total |
Based on: 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), 10-K (reporting date: 2019-12-31).
Capital expenditures
Boeing Co., capital expenditures by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Commercial Airplanes (BCA) | |||||
| Defense, Space & Security (BDS) | |||||
| Global Services (BGS) | |||||
| Unallocated items, eliminations and other | |||||
| Total |
Based on: 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), 10-K (reporting date: 2019-12-31).
Depreciation and amortization
Boeing Co., depreciation and amortization by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Commercial Airplanes (BCA) | |||||
| Defense, Space & Security (BDS) | |||||
| Global Services (BGS) | |||||
| Unallocated items, eliminations and other | |||||
| Total |
Based on: 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), 10-K (reporting date: 2019-12-31).