Latest Ratios: P/E Ratio 93.4x · EV/EBITDA N/A · ROE 289.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $182.6B | $165.5B | $114.5B | $158.0B | $113.4B | $118.4B | $121.8B | $185.0B | $189.0B | $180.1B | $100.2B |
| Enterprise Value | $226.1B | $209.0B | $154.9B | $197.9B | $156.0B | $168.7B | $177.9B | $203.1B | $195.2B | $182.3B | $101.4B |
| P/E Ratio → | 93.42 | 87.55 | — | — | — | — | — | — | 18.08 | 21.96 | 20.46 |
| P/S Ratio | 2.04 | 1.85 | 1.72 | 2.03 | 1.70 | 1.90 | 2.09 | 2.42 | 1.87 | 1.92 | 1.06 |
| P/B Ratio | 32.36 | 30.33 | — | — | — | — | — | — | 461.10 | 437.14 | 114.28 |
| P/FCF | — | — | — | 35.64 | 49.51 | — | — | — | 13.97 | 15.70 | 12.71 |
| P/OCF | 171.49 | 155.41 | — | 26.51 | 32.28 | — | — | — | 12.34 | 13.50 | 9.55 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.34 | 2.33 | 2.54 | 2.34 | 2.71 | 3.06 | 2.65 | 1.93 | 1.94 | 1.07 |
| EV / EBITDA | — | — | — | 188.83 | — | 76.44 | — | 606.13 | 14.03 | 14.96 | 13.62 |
| EV / EBIT | — | 38.66 | — | 435.90 | — | — | — | — | 16.16 | 17.42 | 17.27 |
| EV / FCF | — | — | — | 44.64 | 68.14 | — | — | — | 14.42 | 15.89 | 12.86 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 4.8% | 4.8% | -2.9% | 9.9% | 5.2% | 10.4% | 1.7% | 5.9% | 19.4% | 18.5% | 14.6% |
| Operating Margin | -6.1% | -6.1% | -16.2% | -1.0% | -5.3% | 0.1% | -10.8% | -2.5% | 11.7% | 10.8% | 5.9% |
| Net Profit Margin | 2.5% | 2.5% | -17.8% | -2.9% | -7.4% | -6.7% | -20.4% | -0.8% | 10.3% | 9.0% | 5.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 289.7% | 289.7% | — | — | — | — | — | — | 2543.3% | 1311.4% | 134.5% |
| ROA | 1.4% | 1.4% | -8.1% | -1.6% | -3.6% | -2.9% | -8.3% | -0.5% | 10.0% | 9.3% | 5.3% |
| ROIC | -9.5% | -9.5% | -27.4% | -2.5% | -8.6% | 0.1% | -19.7% | -17.7% | 189.6% | 316.2% | 116.3% |
| ROCE | -9.1% | -9.1% | -21.5% | -1.8% | -6.9% | 0.1% | -12.4% | -5.4% | 32.9% | 26.7% | 13.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 9.97 | 9.97 | — | — | — | — | — | — | 33.77 | 26.98 | 11.41 |
| Debt / EBITDA | — | — | — | 50.19 | — | 26.45 | — | 82.25 | 1.00 | 0.91 | 1.34 |
| Net Debt / Equity | — | 7.97 | — | — | — | — | — | — | 14.90 | 5.38 | 1.38 |
| Net Debt / EBITDA | — | — | — | 38.08 | — | 22.80 | — | 53.94 | 0.44 | 0.18 | 0.16 |
| Debt / FCF | — | — | — | 9.00 | 18.63 | — | — | — | 0.45 | 0.19 | 0.15 |
| Interest Coverage | 1.95 | 1.95 | -3.48 | 0.18 | -0.98 | -0.88 | -5.71 | -2.13 | 25.43 | 29.07 | 19.20 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.19 | 1.19 | 1.32 | 1.14 | 1.22 | 1.33 | 1.39 | 1.05 | 1.08 | 1.16 | 1.25 |
| Quick Ratio | 0.40 | 0.40 | 0.42 | 0.31 | 0.35 | 0.36 | 0.46 | 0.26 | 0.31 | 0.37 | 0.38 |
| Cash Ratio | 0.27 | 0.27 | 0.27 | 0.17 | 0.19 | 0.20 | 0.29 | 0.10 | 0.10 | 0.18 | 0.20 |
| Asset Turnover | — | 0.53 | 0.43 | 0.57 | 0.49 | 0.45 | 0.38 | 0.57 | 0.86 | 1.02 | 1.05 |
| Inventory Turnover | 1.01 | 1.01 | 0.78 | 0.88 | 0.81 | 0.71 | 0.70 | 0.94 | 1.30 | 1.73 | 1.87 |
| Days Sales Outstanding | — | 49.28 | 61.46 | 51.92 | 61.95 | 66.68 | 63.08 | 59.46 | 51.84 | 44.25 | 35.74 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.2% | 0.2% | — | — | — | — | 1.0% | 2.5% | 2.1% | 1.9% | 2.7% |
| Payout Ratio | — | — | — | — | — | — | — | — | 37.7% | 40.4% | 56.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.1% | 1.1% | — | — | — | — | — | — | 5.5% | 4.6% | 4.9% |
| FCF Yield | — | — | — | 2.8% | 2.0% | — | — | — | 7.2% | 6.4% | 7.9% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.4% | 4.8% | 5.1% | 7.0% |
| Total Shareholder Yield | 0.2% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 1.0% | 3.9% | 6.8% | 7.0% | 9.7% |
| Shares Outstanding | — | $762M | $647M | $606M | $595M | $588M | $569M | $568M | $586M | $611M | $644M |
Operational and solvency distress
According to recent market data, Boeing trades at a P/S ratio of 1.91 and a P/B of 30.35, metrics that appear to reflect a speculative recovery premium rather than fundamental value, especially when compared to the more stable valuation multiples observed among diversified defense industry peers.
The extreme P/B ratio suggests that the company's book value has been severely eroded by persistent losses, rendering traditional price-to-book analysis largely ineffective for gauging intrinsic worth. Investors should monitor whether the current P/S multiple is sustainable, as it implies a market expectation of rapid margin expansion that remains unsupported by the company's current negative operating income trajectory.
Based on reported financial figures, Boeing's ROIC has struggled to maintain positive territory, frequently dipping into negative values such as the -16.2% observed in 2024Q3, which indicates a fundamental inability to generate adequate returns on the capital deployed within its core manufacturing and defense segments.
The persistent failure to achieve a positive ROIC suggests that the company is currently destroying shareholder value rather than compounding it. This trend warrants further investigation into whether the capital intensity of the aerospace duopoly is now a structural liability rather than a competitive advantage under current production constraints.
As reported in quarterly filings, the cash conversion cycle has remained alarmingly high, peaking at 498 days in 2024Q1, which highlights the company's significant struggle to efficiently manage inventory and convert production efforts into realized cash flow amidst ongoing delivery delays and regulatory oversight.
The elevated days inventory outstanding, which consistently exceeds 300 days, suggests that the company is carrying a massive burden of unfinished or undelivered aircraft on its balance sheet. This inefficiency ties up critical liquidity and increases the risk of future write-downs if these assets cannot be cleared through the delivery pipeline in a timely manner.
Based on recent financial statements, the debt-to-equity ratio reached a precarious 9.97 in 2025Q4, a level that appears unsustainable and significantly higher than the leverage profiles of defense-focused peers like RTX or General Dynamics, thereby limiting the company's ability to navigate further operational shocks.
The erratic interest coverage ratio, which has frequently turned negative, indicates that the company's ability to service its debt obligations is highly sensitive to operational performance. Investors should monitor the company's refinancing risk, as the current balance sheet structure leaves little room for error in a high-interest-rate environment.
As evidenced by the current P/E ratio of 87.60, the market's reliance on earnings-based valuation is fundamentally flawed for Boeing, as the company's net income is frequently distorted by non-operating items and tax anomalies that obscure the underlying weakness in core manufacturing operations.
Using P/E as a primary valuation metric for this business model is misleading because it ignores the massive volatility in operating margins and the company's reliance on non-recurring gains to reach profitability. Analysts should instead focus on free cash flow yield or enterprise value-to-sales to better capture the true economic health of the firm.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying BA stock.
The Boeing Company's current P/E ratio is 93.4x. The historical average is 26.0x. This places it at the 100th percentile of its historical range.
The Boeing Company's return on equity (ROE) is 289.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 68.1%.
Based on historical data, The Boeing Company is trading at a P/E of 93.4x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
The Boeing Company's current dividend yield is 0.19%.
The Boeing Company has 4.8% gross margin and -6.1% operating margin.