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 93,995M vs 493,026M combined for tracked competitors (16.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+4.5% annualized vs trailing 12 months), vs accelerating (+2.9%) for its tracked peer group.
- Growth: The Boeing generated 8.0% revenue growth year over year in Q2 2026, vs 16.7% for its tracked competitors combined.
- Profitability: Its -1.7% net margin compares with 17.8% for the peer group.
- Scale: The Boeing ranks #1 of 56 companies by market capitalization in the Aerospace & Defense industry, holding 18.8% of industry market cap.
- Peer revenue share: The Boeing accounted for 16.2% of combined revenue among its tracked peer group, down from 17.3% a year earlier.
- Peer differentiation: Revenue per employee of $0.52M compares with $0.60M for the peer group (0.9x).
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, Q2 2026
The Boeing reported revenue growth of 7.96 % year on year in Q2 2026, below its competitors' combined revenue growth of 16.67 %.
With a net margin of -1.74 %, The Boeing reported lower profitability than its competitors (17.84 %).
The Boeing generated 16.22 % of the combined sales of its peer group, down from 17.31 % a year earlier.
The Boeing vs. its Competitors, Q2 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 an SEC filing; 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 (14) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (6) | $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 13.0% year over year, combined, vs 8.0% for The Boeing. The Boeing's share of combined industry revenue moved from 20.37% to 19.47%, a loss of 0.91 percentage points.
The Boeing's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| The Boeing Company | Yes | Yes | Yes | No |
| Competitors combined (39) | ||||
| High-Confidence Competitors (22) | ||||
| Similar-Size Competitors (5) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 100.00 % (8 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 | Frequency Electronics Inc | 282.9% | Outperformed |
| 3 | Butler National Corp | 282.9% | Outperformed |
| 4 | Cpi Aerostructures Inc | 282.9% | Outperformed |
| 5 | Plexus Corp | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for The Boeing's best-performing tracked 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 | 145,778.73 | 93,995.00 |
| Rtx Corporation | 256,155.90 | 93,500.00 |
| Wells Fargo and Company | 248,473.80 | 83,940.00 |
| Lockheed Martin Corporation | 119,732.91 | 77,014.00 |
| General Dynamics Corporation | 91,602.95 | 53,808.00 |
| Northrop Grumman Corp | 72,025.92 | 42,892.00 |
| SUBTOTAL | 1,400,394.73 | 769,608.24 |
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Sources: The Boeing Company's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
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 SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Lockheed Martin Corporation | Named by the company | 85% |
| Northrop Grumman Corporation | Named by the company | 85% |
| General Dynamics Corporation | Named by the company | 85% |
| Raytheon Technologies Corporation | Named by the company | 85% |
| Eve Holding Inc | Named by the company | 85% |
| Intuitive Machines Inc | Named by the company | 85% |
| Amentum Holdings Inc | Named by the company | 85% |
| Cubic Corp | Named by the company | 85% |
| Kratos Defense and Security Solutions inc | Named by the company | 85% |
| Applied Energetics Inc | Named by the company | 85% |
| BAE Systems | Named by the company | 85% |
| SpaceX | Named by the company | 85% |
| Frequency Electronics Inc | Named by the company | 85% |
| Virgin Galactic Holdings Inc | Named by the company | 85% |
| Aerovironment Inc | Named by the company | 85% |
| Cpi Aerostructures Inc | Named by the company | 85% |
| L3harris Technologies Inc | Named by the company | 85% |
| Woodward Inc | Named by the company | 85% |
| Sumisho Air Lease Corporation | Named by the company | 85% |
| Geospace Technologies Corp | Named by the company | 85% |
| Spirit Aerosystems Holdings inc | Named by the company | 85% |
| Airbus | Named by the company | 85% |
| Viasat Inc | Named by the company | 85% |
| Rockwell Collins Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for The Boeing's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
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 47.85 % |
| Rtx Corporation | Pratt and Whitney 35.98 % |
| Lockheed Martin Corporation | Aeronautics 40.43 % |
| General Dynamics Corporation | Marine Systems 32.36 % |
| Northrop Grumman Corp | Aeronautics Systems 32.36 % |
| Paccar Inc | Truck Subsegment 69.61 % |
Source: operating segment revenue as reported in each company's SEC filings (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 | 145,779 | 516,456 | 13,440 |
| Rtx Corporation | 256,156 | 519,444 | 45,139 |
| Wells Fargo and Company | 248,474 | 351,213 | 95,100 |
| Lockheed Martin Corporation | 119,733 | 626,130 | 51,114 |
| General Dynamics Corporation | 91,603 | 459,897 | 37,103 |
| Northrop Grumman Corp | 72,026 | 5,718,933 | 599,467 |
| PEERS TOTAL | 1,254,616 | 600,105 | 67,401 |
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The Boeing's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. 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 52.99 % |
| Lockheed Martin Corporation | United States 70.72 % |
| Northrop Grumman Corp | United States 85.81 % |
| Elbit Systems Ltd | Israel 32.20 % |
| Ftai Aviation Ltd | North America 55.05 % |
Source: revenue geography as reported in each company's SEC filings (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 18.81 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 915, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | The Boeing Company | 150,084 | 18.81 % |
| 2 | Lockheed Martin Corporation | 120,403 | 15.09 % |
| 3 | Northrop Grumman Corp | 72,957 | 9.15 % |
| 4 | Transdigm Group Incorporated | 63,140 | 7.91 % |
| 5 | Garmin Ltd | 1,234 | 5.2% |
| 6 | Rocket Lab Corp | 1,234 | 5.2% |
| 7 | L3harris Technologies Inc | 1,234 | 5.2% |
| 8 | Axon Enterprise Inc | 1,234 | 5.2% |
| 9 | Elbit Systems Ltd | 1,234 | 5.2% |
| 10 | Teledyne Technologies 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 2026-09-28.
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 | 150,084 | -11.10 % |
| 2 | Lockheed Martin Corporation | 120,403 | 7.57 % |
| 3 | Northrop Grumman Corp | 1,234 | 12.3% |
| 4 | Transdigm Group Incorporated | 1,234 | 12.3% |
| 5 | Garmin Ltd | 1,234 | 12.3% |
| 6 | Rocket Lab Corp | 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 2026-09-28. 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 (56 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 4.68 % | 30.24 % (avg) | -25.6 pp |
| Operating Margin | 4.89 % | industry median | +0.0 pp |
| EBITDA Margin | 6.75 % | 4.83 % (avg) | +1.9 pp |
| Capital Intensity (Capex / Revenue) | 4.09 % | 7.10 % (avg) | -3.0 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 (56 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.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 80.3x | 36.0x | +44.3x |
| EV / EBITDA | 31.4x | 21.5x | +10.0x |
| P/B | 75.1x | 5.2x | +69.9x |
| Return on Equity | 105.14 % | industry aggregate | 75.50 % |
| Return on Invested Capital | 7.89 % | 2.69 % (avg) | 5.20 % |
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 SEC filings.| 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 % | 8.48 % |
| P/E | 19.0x | - | - | - | - | - | - | 87.0x |
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
Every company in The Boeing's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. The Boeing is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
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
Relative market share (vs The Boeing's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
The Boeing falls in the Star quadrant: relative market share of 1.25x vs its largest competitor, in an industry growing revenue 15.0% (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 915 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 4.09 % vs industry average 7.10 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See The Boeing's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See The Boeing's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
The Boeing's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
The Boeing falls in the Medium attractiveness / Medium strength cell: Selective.
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, 18.81 % share).
- Return on equity 75.5 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+4.5% annualized vs trailing 12 months).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
Opportunities
- Industry revenue growing at a healthy 15.0% median pace.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
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 | 1.17 | 22.01 |
| Rtx Corporation | 0.12 | 1.03 | 0.70 |
| Wells Fargo and Company | 0.11 | 0.80 | 1.41 |
| Lockheed Martin Corporation | 0.14 | 1.14 | 2.92 |
| General Dynamics Corporation | 0.14 | 1.40 | 0.33 |
| Northrop Grumman Corp | 0.20 | 1.13 | 0.89 |
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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 | Q2 2026 | +8.0 % | - |
| Rtx Corporation | Q2 2026 | +14.5 % | +30.4 % |
| Wells Fargo and Company | Q2 2026 | +14.2 % | +21.6 % |
| Lockheed Martin Corporation | Q2 2026 | +10.5 % | +436.8 % |
| General Dynamics Corporation | Q1 2026 | +10.3 % | +13.2 % |
| Northrop Grumman Corp | Q2 2026 | +5.1 % | -6.8 % |
| PEERS TOTAL | +14.9 % | +49.0 % |
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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 | Q2 2026 | +9.0 % | +71.7 % |
| Rtx Corporation | Q2 2026 | +50.7 % | +11.5 % |
| Wells Fargo and Company | Q2 2026 | -16.2 % | - |
| Lockheed Martin Corporation | Q2 2026 | +1.1 % | -9.4 % |
| General Dynamics Corporation | Q1 2026 | +13.1 % | +43.0 % |
| Northrop Grumman Corp | Q2 2026 | +34.2 % | +30.7 % |
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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 | 1.51% | 4.33% | 105.14% |
| Rtx Corporation | 4.75% | 6.63% | 12.06% |
| Wells Fargo and Company | 1.05% | 2.94% | 12.48% |
| Lockheed Martin Corporation | 10.40% | 14.74% | 86.24% |
| General Dynamics Corporation | 7.52% | 13.52% | 17.41% |
| Northrop Grumman Corp | 8.93% | 11.14% | 26.58% |
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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 | 67.05 | 1.55 |
| Rtx Corporation | 32.98 | 2.74 |
| Wells Fargo and Company | 11.82 | 2.96 |
| Lockheed Martin Corporation | 19.13 | 1.55 |
| General Dynamics Corporation | 20.99 | 1.70 |
| Northrop Grumman Corp | 16.10 | 1.68 |
| PEERS AVERAGE | 17.88 | 1.82 |
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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.