Stock Analysis on Net

Boeing Co. (NYSE:BA)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Microsoft Excel

Historical Valuation Ratios (Summary)

Boeing Co., historical price multiples (quarterly data)

Microsoft Excel
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 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Price to earnings (P/E)
Price to operating profit (P/OP)
Price to sales (P/S) 1.98 1.32 1.60 1.32 1.66 1.42 1.91 1.73 1.90 1.30 1.53 1.50 1.87 1.93 2.20 2.44 1.96
Price to book value (P/BV)

Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Boeing Co. P/S ratio decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Price to Earnings (P/E)

Boeing Co., historical P/E calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
No. shares of common stock outstanding1 750,074,411 618,200,911 616,167,165 613,884,224 610,135,205 604,976,797 603,203,554 601,593,507 598,239,585 595,983,192 593,811,169 591,635,833 582,999,765 587,699,224 586,151,904 584,810,068 582,996,860 564,529,686 564,448,738 564,325,344
Selected Financial Data (US$)
Net earnings (loss) attributable to Boeing common shareholders (in millions) (3,923) (6,170) (1,439) (343) (23) (1,636) (149) (414) (634) (3,275) 193 (1,219) (4,143) (109) 587 (537) (8,420) (449) (2,376) (628)
Earnings per share (EPS)2 -15.83 -12.90 -5.58 -3.50 -3.64 -4.68 -7.41 -6.87 -8.25 -14.17 -8.89 -8.26 -7.21 -14.43 -15.05 -20.15 -20.37 0.00 0.00 0.00
Share price1, 3 175.87 157.06 190.60 164.33 211.04 177.73 232.80 203.03 211.17 133.79 156.09 154.46 200.24 206.61 231.57 235.46 195.84 148.14 166.01 139.00
Valuation Ratio
P/E ratio4
Benchmarks
P/E Ratio, Competitors5
Caterpillar Inc. 15.65 18.85 14.35 14.40 15.55 12.95 17.55 15.65 19.15 15.15 14.29 18.28 16.82 21.38 25.50 37.92 36.80
Eaton Corp. plc 30.00 34.78 32.49 37.41 35.88 27.72 32.23 26.89 27.93 26.32 25.21 26.37 27.77 33.08 34.43 40.32 37.46
GE Aerospace 33.42 30.61 40.09 52.93 16.18 12.72 13.82 12.78 19.67
Honeywell International Inc. 23.10 23.93 22.74 21.95 22.73 21.44 23.92 25.30 26.97 24.58 25.26 25.10 23.14 27.35 31.83 33.71 29.63
Lockheed Martin Corp. 20.18 20.49 17.74 16.29 15.35 15.71 16.11 22.32 20.48 19.28 22.00 19.45 16.70 15.11 14.27 15.48 13.44
RTX Corp. 36.25 35.41 66.73 38.75 38.31 35.32 22.79 26.67 27.59 29.12 29.83 35.16 36.79 40.28 60.91

Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
EPS = (Net earnings (loss) attributable to Boeing common shareholdersQ4 2024 + Net earnings (loss) attributable to Boeing common shareholdersQ3 2024 + Net earnings (loss) attributable to Boeing common shareholdersQ2 2024 + Net earnings (loss) attributable to Boeing common shareholdersQ1 2024) ÷ No. shares of common stock outstanding
= (-3,923,000,000 + -6,170,000,000 + -1,439,000,000 + -343,000,000) ÷ 750,074,411 = -15.83

3 Closing price as at the filing date of Boeing Co. Quarterly or Annual Report.

4 Q4 2024 Calculation
P/E ratio = Share price ÷ EPS
= 175.87 ÷ -15.83 =

5 Click competitor name to see calculations.


Price to Operating Profit (P/OP)

Boeing Co., historical P/OP calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
No. shares of common stock outstanding1 750,074,411 618,200,911 616,167,165 613,884,224 610,135,205 604,976,797 603,203,554 601,593,507 598,239,585 595,983,192 593,811,169 591,635,833 582,999,765 587,699,224 586,151,904 584,810,068 582,996,860 564,529,686 564,448,738 564,325,344
Selected Financial Data (US$)
Earnings (loss) from operations (in millions) (3,770) (5,761) (1,090) (86) 283 (808) (99) (149) (353) (2,799) 774 (1,169) (4,171) 329 1,023 (83) (8,049) (401) (2,964) (1,353)
Operating profit per share2 -14.27 -10.76 -2.76 -1.16 -1.27 -2.33 -5.64 -4.20 -5.93 -12.36 -7.14 -6.74 -4.98 -11.54 -12.81 -19.66 -21.90 0.00 0.00 0.00
Share price1, 3 175.87 157.06 190.60 164.33 211.04 177.73 232.80 203.03 211.17 133.79 156.09 154.46 200.24 206.61 231.57 235.46 195.84 148.14 166.01 139.00
Valuation Ratio
P/OP ratio4
Benchmarks
P/OP Ratio, Competitors5
Caterpillar Inc. 12.92 15.15 11.63 11.78 12.40 10.25 13.99 12.67 16.25 14.25 13.65 17.16 15.87 16.57 18.76 26.25 24.23
Eaton Corp. plc 24.57 29.21 27.36 31.13 29.72 22.55 25.61 21.74 22.78 21.52 18.06 18.52 19.33 22.62 27.06 30.03 25.83
GE Aerospace 26.78 27.17 27.72 30.66 27.11 22.82 26.69 20.39 19.88 15.70 13.51 17.08 17.46 20.90 23.40 35.58 25.64
Honeywell International Inc. 17.71 18.68 17.90 17.33 18.15 15.87 18.29 19.31 20.84 21.54 21.51 22.09 20.68 23.54 25.98 28.28 24.86
Lockheed Martin Corp. 15.35 15.88 14.04 12.99 12.49 12.87 13.18 15.02 14.06 13.30 11.97 13.61 11.56 10.22 11.57 12.37 10.63
RTX Corp. 26.47 26.63 52.96 35.67 34.37 35.06 20.81 24.68 26.48 24.82 26.15 29.36 28.68 35.30 46.33

Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
Operating profit per share = (Earnings (loss) from operationsQ4 2024 + Earnings (loss) from operationsQ3 2024 + Earnings (loss) from operationsQ2 2024 + Earnings (loss) from operationsQ1 2024) ÷ No. shares of common stock outstanding
= (-3,770,000,000 + -5,761,000,000 + -1,090,000,000 + -86,000,000) ÷ 750,074,411 = -14.27

3 Closing price as at the filing date of Boeing Co. Quarterly or Annual Report.

4 Q4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 175.87 ÷ -14.27 =

5 Click competitor name to see calculations.


Price to Sales (P/S)

Boeing Co., historical P/S calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
No. shares of common stock outstanding1 750,074,411 618,200,911 616,167,165 613,884,224 610,135,205 604,976,797 603,203,554 601,593,507 598,239,585 595,983,192 593,811,169 591,635,833 582,999,765 587,699,224 586,151,904 584,810,068 582,996,860 564,529,686 564,448,738 564,325,344
Selected Financial Data (US$)
Revenues (in millions) 15,242 17,840 16,866 16,569 22,018 18,104 19,751 17,921 19,980 15,956 16,681 13,991 14,793 15,278 16,998 15,217 15,304 14,139 11,807 16,908
Sales per share2 88.68 118.56 119.38 124.52 127.50 125.22 122.03 117.25 111.34 103.06 102.29 103.21 106.84 106.85 105.19 96.56 99.76 0.00 0.00 0.00
Share price1, 3 175.87 157.06 190.60 164.33 211.04 177.73 232.80 203.03 211.17 133.79 156.09 154.46 200.24 206.61 231.57 235.46 195.84 148.14 166.01 139.00
Valuation Ratio
P/S ratio4 1.98 1.32 1.60 1.32 1.66 1.42 1.91 1.73 1.90 1.30 1.53 1.50 1.87 1.93 2.20 2.44 1.96
Benchmarks
P/S Ratio, Competitors5
Caterpillar Inc. 2.75 3.23 2.51 2.54 2.52 1.86 2.37 1.89 2.27 2.08 1.88 2.38 2.26 2.41 2.59 3.23 2.83
Eaton Corp. plc 4.58 5.33 4.91 5.38 4.98 3.67 3.96 3.23 3.31 2.99 2.95 2.96 3.03 3.51 3.39 3.25 2.96
GE Aerospace 6.24 3.76 3.19 2.70 2.30 1.84 1.85 1.51 1.20 1.11 1.10 1.25 1.50 1.64 1.60 1.68 1.41
Honeywell International Inc. 3.42 3.59 3.52 3.41 3.51 3.19 3.61 3.68 3.78 3.78 3.72 3.84 3.73 4.32 4.66 4.78 4.34
Lockheed Martin Corp. 1.52 1.92 1.68 1.59 1.57 1.62 1.69 1.92 1.78 1.75 1.61 1.84 1.57 1.38 1.53 1.63 1.40
RTX Corp. 2.14 2.11 2.08 1.90 1.78 1.68 1.80 2.15 2.14 1.97 2.04 2.27 2.21 2.09 2.14 2.07 1.95

Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
Sales per share = (RevenuesQ4 2024 + RevenuesQ3 2024 + RevenuesQ2 2024 + RevenuesQ1 2024) ÷ No. shares of common stock outstanding
= (15,242,000,000 + 17,840,000,000 + 16,866,000,000 + 16,569,000,000) ÷ 750,074,411 = 88.68

3 Closing price as at the filing date of Boeing Co. Quarterly or Annual Report.

4 Q4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 175.87 ÷ 88.68 = 1.98

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Boeing Co. P/S ratio decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Price to Book Value (P/BV)

Boeing Co., historical P/BV calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
No. shares of common stock outstanding1 750,074,411 618,200,911 616,167,165 613,884,224 610,135,205 604,976,797 603,203,554 601,593,507 598,239,585 595,983,192 593,811,169 591,635,833 582,999,765 587,699,224 586,151,904 584,810,068 582,996,860 564,529,686 564,448,738 564,325,344
Selected Financial Data (US$)
Shareholders’ deficit (in millions) (3,908) (23,552) (17,976) (17,009) (17,233) (16,729) (15,517) (15,508) (15,883) (17,699) (14,888) (15,398) (14,999) (14,440) (16,682) (18,058) (18,316) (11,821) (11,667) (9,665)
Book value per share (BVPS)2 -5.21 -38.10 -29.17 -27.71 -28.24 -27.65 -25.72 -25.78 -26.55 -29.70 -25.07 -26.03 -25.73 -24.57 -28.46 -30.88 -31.42 -20.94 -20.67 -17.13
Share price1, 3 175.87 157.06 190.60 164.33 211.04 177.73 232.80 203.03 211.17 133.79 156.09 154.46 200.24 206.61 231.57 235.46 195.84 148.14 166.01 139.00
Valuation Ratio
P/BV ratio4
Benchmarks
P/BV Ratio, Competitors5
Caterpillar Inc. 8.66 10.38 9.22 9.18 8.25 5.76 8.05 6.13 8.09 7.16 6.14 6.96 6.62 6.61 6.65 7.86 7.20 5.64 5.32 4.11
Eaton Corp. plc 6.16 6.85 6.17 6.60 6.07 4.52 4.87 3.96 4.04 3.75 3.56 3.52 3.63 4.28 4.21 3.84 3.54 3.06 2.73 2.34
GE Aerospace 11.33 10.13 10.03 5.96 5.43 4.31 4.09 3.39 2.43 2.53 2.26 2.27 2.64 3.15 3.43 3.53 2.89 1.95 1.71 1.63
Honeywell International Inc. 7.08 7.81 7.76 7.64 8.11 6.74 7.54 7.81 8.02 7.46 7.31 7.17 6.91 8.39 8.83 8.67 8.07 6.40 5.78 5.46
Lockheed Martin Corp. 17.00 19.00 19.35 16.60 15.54 11.80 12.31 13.16 12.67 9.46 9.05 12.08 9.62 9.50 15.63 17.05 15.27 20.84 27.96 30.96
RTX Corp. 2.88 2.73 2.56 2.23 2.05 1.62 1.75 2.03 1.97 1.85 1.89 2.04 1.95 1.87 1.87 1.75 1.53 1.26 1.35 1.25

Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
BVPS = Shareholders’ deficit ÷ No. shares of common stock outstanding
= -3,908,000,000 ÷ 750,074,411 = -5.21

3 Closing price as at the filing date of Boeing Co. Quarterly or Annual Report.

4 Q4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 175.87 ÷ -5.21 =

5 Click competitor name to see calculations.