How Does Boeing Stock Compare With Peers?
Boeing‘s stock has seen a 22% return over the past year, but how does it truly measure up against aerospace and defense peers given ongoing production woes and the 2024 737 MAX 9 grounding? As of December 24, 2025, BA shows solid revenue growth but deeply negative operating margins, free cash flow, and a negative P/E ratio, starkly contrasting with peers’ robust profitability. This suggests that operational challenges, including past aircraft groundings and increased regulatory scrutiny, continue to constrain Boeing‘s valuation upside despite its significant market presence.
- BA’s -10.4% operating margin, lowest among peers (LHX at 11.1%), signals deep operational challenges and profitability hurdles.
- BA’s 10.2% revenue growth, outpacing peers like RTX, LMT, NOC, LHX but lagging GD, suggests market share gains despite production challenges.
- BA’s 21.6% stock gain and -16.8 PE, lagging stronger peer returns, indicates investor speculation on recovery despite current unprofitability.
Here’s how Boeing stacks up across size, valuation, and profitability versus key peers.
| BA | RTX | LMT | GD | NOC | LHX | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 165.8 | 250.3 | 112.6 | 93.0 | 83.3 | 55.8 |
| Revenue ($ Bil) | 80.8 | 86.0 | 73.3 | 51.5 | 40.9 | 21.4 |
| PE Ratio | -16.8 | 38.0 | 26.8 | 22.1 | 20.7 | 32.9 |
| LTM Revenue Growth | 10.2% | 8.8% | 2.9% | 11.9% | -0.1% | 2.9% |
| LTM Operating Margin | -10.4% | 10.3% | 8.2% | 10.3% | 10.0% | 11.1% |
| LTM FCF Margin | -7.9% | 5.5% | 6.3% | 9.3% | 4.5% | 10.1% |
| 12M Market Return | 21.6% | 62.5% | 2.4% | 32.6% | 25.8% | 42.4% |
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% |
| GD | 11.9% | 12.9% | 7.3% | 2.4% |
| NOC | -0.1% | 4.4% | 7.3% | 2.6% |
| LHX | 2.9% | 9.8% | 13.8% | -4.2% |
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% |
| GD | 10.3% | 10.1% | 10.0% | 10.7% |
| NOC | 10.0% | 10.6% | 6.5% | 9.8% |
| LHX | 11.1% | 9.7% | 10.4% | 11.3% |
PE Ratio Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| BA | -16.8 | -9.7 | -71.1 | -23.0 |
| RTX | 38.0 | 32.3 | 37.6 | 28.7 |
| LMT | 26.8 | 21.7 | 16.4 | 22.4 |
| GD | 22.1 | 19.1 | 21.4 | 20.1 |
| NOC | 20.7 | 16.5 | 34.5 | 17.3 |
| LHX | 32.9 | 26.6 | 32.5 | 37.6 |
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