Where Does Boeing Stock Rank Among Competitors?
Boeing (BA) stock posted a 46% return over the past year, outperforming some defense peers like LMT and NOC but lagging RTX and GE. While exhibiting solid revenue growth, its deep unprofitability with negative operating and FCF margins sharply contrasts its rivals. Recent 737 MAX 9 grounding issues in January 2024 and 777X program delays further challenge its recovery, underscoring persistent quality concerns amidst a robust aerospace sector.
- BA’s -10.4% operating margin, lowest among peers (GE 20.5%), signals deep operational inefficiencies from supply chain issues and defense program losses.
- BA’s 10.2% revenue growth reflects strong commercial demand, outpacing RTX, LMT, NOC, but production hurdles and supply chain constraints lag GD, GE.
- BA’s 46.4% gain despite -18.9 PE signals investor speculation on a turnaround amidst unprofitability and ongoing challenges, lagging RTX, GE returns.
Here’s how Boeing stacks up across size, valuation, and profitability versus key peers.
| BA | RTX | LMT | NOC | GD | GE | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 185.9 | 260.7 | 129.5 | 89.5 | 97.8 | 346.2 |
| Revenue ($ Bil) | 80.8 | 86.0 | 73.3 | 40.9 | 51.5 | 43.9 |
| PE Ratio | -18.9 | 39.5 | 30.8 | 22.3 | 23.2 | 42.9 |
| LTM Revenue Growth | 10.2% | 8.8% | 2.9% | -0.1% | 11.9% | 17.7% |
| LTM Operating Margin | -10.4% | 10.3% | 8.2% | 10.0% | 10.3% | 20.5% |
| LTM FCF Margin | -7.9% | 5.5% | 6.3% | 4.5% | 9.3% | 14.7% |
| 12M Market Return | 46.4% | 65.5% | 18.6% | 33.8% | 39.8% | 86.1% |
For more details on Boeing, read Buy or Sell BA Stock. Below we compare BA’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| BA | 10.2% | -14.5% | 16.8% | 6.9% |
| RTX | 8.8% | 17.1% | 2.8% | 4.2% |
| LMT | 2.9% | 5.1% | 2.4% | -1.6% |
| NOC | -0.1% | 4.4% | 7.3% | 2.6% |
| GD | 11.9% | 12.9% | 7.3% | 2.4% |
| GE | 17.7% | 9.5% | 21.3% | -48.4% |
Operating Margin Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| BA | -10.4% | -16.3% | -1.1% | -5.3% |
| RTX | 10.3% | 8.1% | 5.2% | 8.2% |
| LMT | 8.2% | 9.9% | 12.6% | 12.7% |
| NOC | 10.0% | 10.6% | 6.5% | 9.8% |
| GD | 10.3% | 10.1% | 10.0% | 10.7% |
| GE | 20.5% | 17.5% | 13.3% | 12.3% |
PE Ratio Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| BA | -18.9 | -11.9 | -48.3 | -31.4 |
| RTX | 39.5 | 51.2 | 51.6 | 23.9 |
| LMT | 30.8 | 21.6 | 17.6 | 20.9 |
| NOC | 22.3 | 20.1 | 34.6 | 14.8 |
| GD | 23.2 | 24.4 | 21.7 | 21.1 |
| GE | 42.9 | 51.0 | 19.2 | 332.3 |
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