The Boeing's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of The Boeing (BA) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: The Boeing vs Its Competitors
- TTM: Trailing 12-month revenue of 94,913M vs 557,701M combined for its competitors (14.5% combined share).
- Trending: Latest-quarter revenue run-rate is holding steady (+1.9% annualized vs trailing 12 months), vs decelerating (-2.4%) for its tracked peer group.
- Growth: The Boeing generated 3.9% revenue growth year over year in Q3 2026, vs 10.1% for its competitors combined.
- Profitability: Its -0.5% net margin compares with 13.2% for the peer group.
- Scale: The Boeing ranks #1 of 56 companies by market capitalization in the Aerospace & Defense industry, holding 17.7% of industry market cap.
- Peer revenue share: The Boeing accounted for 15.1% of combined revenue among its tracked peer group, down from 15.8% a year earlier.
- Peer differentiation: Revenue per employee of $0.52M compares with $0.61M for the peer group (0.8x).
- Structure: The Boeing operates in the following segments: Commercial Airplanes, Boeing Defense Space Security, Global Services; and reports the following subsidiaries: Spirit Aerosystems Holdings inc (competes with Airbus SE, Bioventus Inc , Leonardo Drs Inc ).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
BA Sales vs. its Competitors, Q3 2026
The Boeing reported revenue growth of 3.94 % year on year in Q3 2026, below its competitors' combined revenue growth of 10.10 %.
With a net margin of -0.48 %, The Boeing reported lower profitability than its competitors (13.15 %).
The Boeing generated 15.09 % of the combined sales of its peer group, down from 15.84 % a year earlier.
API endpoints for this dataset
The Boeing vs. its Competitors, Q3 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in The Boeing reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across The Boeing and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| The Boeing Company | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (10) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across The Boeing's competitor groups requires a Commercial License.
For context: the Aerospace & Defense industry grew revenue 12.6% year over year, combined, vs 3.9% for The Boeing. The Boeing's share of combined industry revenue moved from 20.54% to 18.96%, a loss of 1.57 percentage points.
The Boeing's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| The Boeing Company | Yes | Yes | Yes | No |
| Competitors combined (39) | ||||
| High-Confidence Competitors (24) | ||||
| Similar-Size Competitors (5) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 75.00 % (6 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
BA Stock Performance relative to its Competitors
BA Stock Performance relative to High-Confidence Competitors
BA Stock Performance relative to Similar-Size Competitors
BA Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Sifco Industries Inc | 282.9% | Outperformed |
| 2 | Butler National Corp | 282.9% | Outperformed |
| 3 | Cpi Aerostructures Inc | 282.9% | Outperformed |
| 4 | Frequency Electronics Inc | 282.9% | Outperformed |
| 5 | Richardson Electronics Ltd | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for The Boeing's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Publicly Traded Peers of The Boeing Company
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 The Boeing Company |
137,454.18 | 94,913.00 |
 Rtx Corporation |
259,295.99 | 95,987.00 |
 Wells Fargo and Company |
256,142.91 | 85,055.00 |
 Lockheed Martin Corporation |
131,279.02 | 79,116.00 |
 General Dynamics Corporation |
96,933.84 | 56,520.00 |
 Northrop Grumman Corp |
74,761.42 | 43,591.00 |
| SUBTOTAL | 1,424,171.06 | 786,994.52 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on The Boeing Company versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
The Boeing's Competitors Named by the Company
Competitive relationships identified from The Boeing reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Northrop Grumman Corporation | Company report | 85% |
| Lockheed Martin Corporation | Company report | 85% |
| Raytheon Technologies Corporation | Company report | 85% |
| General Dynamics Corporation | Company report | 85% |
| Cpi Aerostructures Inc | Company report | 85% |
| Airbus | Company report | 85% |
| Triumph Group, Inc. | Company report | 85% |
| Leonardo Drs Inc | Company report | 85% |
| L3harris Technologies Inc | Company report | 85% |
| Aerovironment Inc | Company report | 85% |
| Frequency Electronics Inc | Company report | 85% |
| Eve Holding Inc | Company report | 85% |
| Intuitive Machines Inc | Company report | 85% |
| Kratos Defense and Security Solutions inc | Company report | 85% |
| Bioventus Inc | Company report | 85% |
| Amentum Holdings Inc | Company report | 85% |
| Premium AEROTEC | Company report | 85% |
| Sumisho Air Lease Corporation | Company report | 85% |
| Virgin Galactic Holdings Inc | Company report | 85% |
| Geospace Technologies Corp | Company report | 85% |
| Applied Energetics Inc | Company report | 85% |
| Woodward Inc | Company report | 85% |
| BAE Systems | Company report | 85% |
| SpaceX | Company report | 85% |
| Kawasaki Heavy Industries, Inc. | Company report | 85% |
| Safran Nacelles | Company report | 85% |
| Mitsubishi Heavy Industries | Company report | 85% |
| Aernnova | Company report | 85% |
| Latecoere S.A. | Company report | 85% |
| Sonaca | Company report | 85% |
| GKN Aerospace | Company report | 85% |
| Embraer Brazilian Aviation Co. | Company report | 85% |
| Subaru Corporation | Company report | 85% |
| Cubic Corp | Company report | 85% |
| Bombardier | Company report | 85% |
| Stelia Aerospace | Company report | 85% |
| Viasat Inc | Company report | 85% |
| Rockwell Collins Inc | Company report | 85% |
| Ducommun Incorporated | Company report | 85% |
| Ftai Aviation Ltd | Company report | 85% |
| Elbit Systems Ltd | Company report | 85% |
| Oshkosh Corporation | Company report | 85% |
| Textron Inc | Company report | 85% |
| Leidos Holdings Inc | Company report | 85% |
| Bwx Technologies Inc | Company report | 85% |
| Honeywell International Inc | Company report | 85% |
| Rtx Corporation | Company report | 85% |
| American International Group Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for The Boeing's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
The Boeing's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| The Boeing Company | Commercial Airplanes 44.32 % |
| Rtx Corporation | Pratt and Whitney 36.98 % |
| Lockheed Martin Corporation | Aeronautics 39.66 % |
| General Dynamics Corporation | Marine Systems 34.05 % |
| Northrop Grumman Corp | Aeronautics Systems 32.14 % |
| Honeywell International Inc | Building Automation 40.45 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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The Boeing's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| The Boeing Company | 137,454 | 521,500 | 42,137 |
| Rtx Corporation | 259,296 | 533,261 | 48,344 |
| Wells Fargo and Company | 256,143 | 355,879 | 96,699 |
| Lockheed Martin Corporation | 131,279 | 643,220 | 52,951 |
| General Dynamics Corporation | 96,934 | 483,077 | 39,803 |
| Northrop Grumman Corp | 74,761 | 5,812,133 | 602,667 |
| PEERS TOTAL | 1,286,717 | 614,733 | 68,220 |
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The Boeing's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Rtx Corporation | UNITED STATES 53.04 % |
| Lockheed Martin Corporation | United States 69.29 % |
| Northrop Grumman Corp | United States 86.67 % |
| Elbit Systems Ltd | Israel 32.20 % |
| Ftai Aviation Ltd | North America 82.01 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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The Boeing's Position in Industry Market Structure
Market-capitalization share and concentration across all 49 companies in The Boeing's industry classification, broader than the peer set above. Market cap in millions of $.The Boeing ranks #1 of 49 companies by market capitalization in its industry, holding 17.67 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 944, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | The Boeing Company | 137,090 | 17.67 % |
| 2 | Lockheed Martin Corporation | 131,052 | 16.89 % |
| 3 | Northrop Grumman Corp | 74,761 | 9.64 % |
| 4 | Transdigm Group Incorporated | 68,708 | 8.86 % |
| 5 | Garmin Ltd | 1,234 | 5.2% |
| 6 | L3harris Technologies Inc | 1,234 | 5.2% |
| 7 | Rocket Lab Corp | 1,234 | 5.2% |
| 8 | Elbit Systems Ltd | 1,234 | 5.2% |
| 9 | Teledyne Technologies Inc | 1,234 | 5.2% |
| 10 | Axon Enterprise Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of The Boeing's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
The Boeing's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | The Boeing Company | 137,090 | -13.43 % |
| 2 | Lockheed Martin Corporation | 131,052 | 19.81 % |
| 3 | Northrop Grumman Corp | 1,234 | 12.3% |
| 4 | Transdigm Group Incorporated | 1,234 | 12.3% |
| 5 | Garmin Ltd | 1,234 | 12.3% |
| 6 | L3harris Technologies Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of The Boeing's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
The Boeing's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Aerospace & Defense industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (63 companies). See the full Aerospace & Defense industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 9.42 % | 24.92 % (avg) | -15.5 pp |
| Operating Margin | 10.26 % | industry median | -0.5 pp |
| EBITDA Margin | 12.28 % | 1.57 % (avg) | +10.7 pp |
| Capital Intensity (Capex / Revenue) | 4.21 % | 6.71 % (avg) | -2.5 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
The Boeing's Valuation vs Competitive Position
Valuation multiples vs the Aerospace & Defense industry average (63 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Aerospace & Defense industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 22.3x | 33.8x | -11.6x |
| EV / EBITDA | 18.1x | 19.8x | -1.6x |
| P/B | 28.2x | 5.4x | +22.8x |
| Return on Equity | 127.18 % | industry aggregate | 98.85 % |
| Return on Invested Capital | 14.88 % | -0.09 % (avg) | 14.97 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
The Boeing's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 8.28 % | -24.29 % | -24.04 % | 7.10 % | 6.94 % | 16.79 % | -14.50 % | 34.50 % |
| Operating Margin | 11.85 % | -2.58 % | -21.95 % | -4.66 % | -5.33 % | -0.99 % | -16.10 % | 4.79 % |
| Return on Invested Capital | 33.32 % | -5.98 % | -25.09 % | -6.60 % | -10.39 % | -3.00 % | -34.40 % | 6.27 % |
| P/E | 19.0x | - | - | - | - | - | - | 83.9x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
The Boeing's Strategic Group Map
The Boeing is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
The Boeing's trailing-12-month revenue growth of 17.5% and operating margin of 10.3% compares with an average of 14.9% growth and 11.6% margin across its 8 closest peers by combined growth, margin and ROIC -- The Boeing sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
The Boeing's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
The Boeing falls in the Star quadrant: relative market share of 1.05x vs its largest competitor, in an industry growing revenue 13.6% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
The Boeing's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 944 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 4.21 % vs industry average 6.71 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on The Boeing's dedicated Suppliers and Customers pages, not here.
The Boeing's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
The Boeing falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
The Boeing's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Market leader by capitalization in its industry (#1 of 49, 17.67 % share).
- Return on equity 98.9 points above the industry aggregate.
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
Opportunities
- Industry revenue growing at a healthy 13.6% median pace.
- Trades at a lower P/E than the industry average (22.3x vs 33.8x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
- Losing revenue share to the broader industry (-1.6 points over the past year).
- Tracked peer group's revenue run-rate is broadly decelerating (-2.4% annualized).
Methodology: see Methodology: SWOT Analysis.
The Boeing's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| The Boeing Company | 0.08 | 1.16 | 8.36 |
| Rtx Corporation | 0.13 | 1.03 | 0.82 |
| Wells Fargo and Company | 0.11 | 0.80 | 1.16 |
| Lockheed Martin Corporation | 0.17 | 1.17 | 2.53 |
| General Dynamics Corporation | 0.20 | 1.42 | 0.29 |
| Northrop Grumman Corp | 0.23 | 1.16 | 0.85 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
The Boeing's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| The Boeing Company | Q3 2026 | +3.9 % | - |
| Rtx Corporation | Q3 2026 | +11.1 % | +28.8 % |
| Wells Fargo and Company | Q3 2026 | +5.4 % | +6.9 % |
| Lockheed Martin Corporation | Q3 2026 | +11.3 % | +14.0 % |
| General Dynamics Corporation | Q3 2026 | +12.9 % | +16.1 % |
| Northrop Grumman Corp | Q3 2026 | +6.7 % | +2.2 % |
| PEERS TOTAL | +11.1 % | +39.6 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
The Boeing's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| The Boeing Company | Q3 2026 | -14.1 % | +16.6 % |
| Rtx Corporation | Q3 2026 | +41.0 % | +11.8 % |
| Wells Fargo and Company | Q3 2026 | +31.5 % | - |
| Lockheed Martin Corporation | Q3 2026 | +11.6 % | +15.2 % |
| General Dynamics Corporation | Q3 2026 | +81.5 % | +126.9 % |
| Northrop Grumman Corp | Q3 2026 | +32.3 % | +1.7 % |
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The Boeing's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| The Boeing Company | 4.58% | 12.92% | 127.18% |
| Rtx Corporation | 5.03% | 6.62% | 12.70% |
| Wells Fargo and Company | 1.04% | 1.23% | 12.78% |
| Lockheed Martin Corporation | 10.59% | 14.93% | 78.85% |
| General Dynamics Corporation | 7.87% | 12.53% | 17.60% |
| Northrop Grumman Corp | 8.83% | 10.92% | 25.70% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
The Boeing's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| The Boeing Company | 18.01 | 1.45 |
| Rtx Corporation | 31.07 | 2.70 |
| Wells Fargo and Company | 11.91 | 3.01 |
| Lockheed Martin Corporation | 20.17 | 1.66 |
| General Dynamics Corporation | 20.79 | 1.72 |
| Northrop Grumman Corp | 16.60 | 1.72 |
| PEERS AVERAGE | 16.86 | 1.81 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.