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FINANCIAL STATEMENT AND RATIO ANALYSIS TABLES. TABLE T-1. The Boeing Company Consolidated Financial Balance Sheet. TABLE T-2. The Boeing Company Consolidated Income Statement. TABLE T-3. The Boeing Company Divisional Summary. TABLE T-3. The Boeing Company Divisional Summary. TABLE T-4.
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TABLE T-1 The Boeing CompanyConsolidated Financial Balance Sheet
TABLE T-2 The Boeing CompanyConsolidated Income Statement
TABLE T-3 The Boeing Company Divisional Summary
TABLE T-3 The Boeing CompanyDivisional Summary
TABLE T-4 The Boeing CompanyConsolidated Financial Ratio Analysis
TABLE T-5 Lockheed Martin Consolidated Financial Balance Sheet
TABLE T-6 Lockheed Martin Consolidated Income Statement
TABLE T-7 Lockheed Martin Divisional Summary
TABLE T-8 Lockheed MartinConsolidated Financial Ratio Analysis
FIGURE F-1 The Boeing CompanyDivisional Total Assets Trend Analysis Note: Information, Space and Defense was divided into (1) Military Aircraft and Missiles and (2) Space and Communications divisions in 1998
FIGURE F-2 The Boeing CompanyDivisional Sales/Revenue Trend Analysis Note: Information, Space and Defense was divided into (1) Military Aircraft and Missiles and (2) Space and Communications divisions in 1998
FIGURE F-3 The Boeing CompanyNet EarningsDivisional Trend Analysis
FIGURE F-4 The Boeing CompanyNet Capital ExpendituresDivisional Trend Analysis
FIGURE F-5 The Boeing CompanyDivisional Total Liabilities Trend Analysis Note: Information, Space and Defense was divided into (1) Military Aircraft and Missiles and (2) Space and Communications divsions in 1998
FIGURE F-6 The Boeing CompanyResearch and DevelopmentDivisional Trend Analysis Note: Information, Space and Defense was divided into (1) Military Aircraft and Missiles and (2) Space and Communications divisions in 1998
FIGURE F-7 The Boeing CompanyLiquidity Ratio Trend Analysis
FIGURE F-8 The Boeing CompanyAsset Management Ratio Trend Analysis
FIGURE F-9 Lockheed MartinDivisional Total Assets Trend Analysis Electronics division is the major Total Assets contributor
FIGURE F-10 Lockheed MartinDivisional Sales Trend Analysis • Space & Missiles and Electronics Divisions equally contributing to Sales
FIGURE F-11 Lockheed MartinNet EarningsDivisional Trend Analysis • Space & Missiles leading contributor to Net Earnings
FIGURE F-12 Lockheed MartinNet Capital ExpendituresDivisional Trend Analysis • Space & Missiles is leading contributor to Net Capital Expenditures
FIGURE F-13 Lockheed MartinLiquidity Ratio Trend Analysis
FIGURE F-14 Lockheed MartinAsset Management Ratio Trend Analysis
FIGURE F-15 Consolidated Total AssetsFinancial Comparison • Boeing’s total Assets are 1.30 times greater than LM • Boeing’s assets are decreasing while LM are remaining roughly the same
FIGURE F-16 Consolidated SalesFinancial Comparison • Boeing sales are increasing while LM remain basically flat • Boeing sales are 1.69x greater than LM over the last three years • Commercial aircraft division account for 63% of Total Sales
FIGURE F-17 Consolidated Net EarningsFinancial Comparison • LM operations more efficient than Boeing over this three year period • Earnings are comparable to Boeing and yet Boeing has much more sales • LM earnings are decreasing
FIGURE F-18 Consolidated Earnings From OperationsFinancial Comparison • LM cost of operations much lower than Boeings respect to Sales • LM earnings remain consistent with flat sales receipts • Boeing needs much improvement in its cost of operations
FIGURE F-19 Consolidated Earnings per ShareFinancial Comparison • LM has generally higher earnings per share than Boeing • More efficient cost of operations • Effectively utilizing assets and inventories • Boeing has much room for improvement
FIGURE F-20 Consolidate Return on Assets(ROA)Profitability Financial Comparison • Shows that LM much more efficient at operations than Boeing
FIGURE F-21 Consolidated Return on Equity (ROE)Profitability Financial Comparison • Shows that LM much more efficient at operations than Boeing
FIGURE F-22 Consolidated Profit MarginProfitability Financial Comparison • LM Profit Margins are decreasing even though Sales have remained the same • Shows LM has a more efficient operations than Boeing
FIGURE F-23 Consolidated InventoriesFinancial Comparison • LM inventories are increasing while Boeing’s inventory is decreasing • LM inventory to Total Assets ratio is 50% less than Boeing’s • Shows that LM operations are more efficient than Boeing’s
FIGURE F-24 Consolidated Current RatioLiquidity Financial Comparison • Ability to meet short term obligations • Ratio is much lower than industry average • Shows the 1998 Liquidity position relatively weak • Must liquidate current assets at 97% (1/1.03) for LM and at 61% (1/1.22) for Boeing of book value and still payoff creditors in full
FIGURE F-25 Consolidated Quick RatioLiquidity Financial Comparison • Ratio is decreasing compared to the industry average • Both companies would have to liquidate its inventory in order to payoff its • current liabilities • Inventories are the least liquid of current assets
FIGURE F-26 Consolidated Inventory Turnover RatioAsset Management Ratio Financial Comparison • Inventory sold out and restocked higher than the industry average • LM ratio is higher than Boeing • Shows possibly superior merchandising and/or a shortage of needed • inventory to support sales for both companies
FIGURE F-27 Consolidated Fixed Asset RatioAsset Management Ratio Financial Comparison • Shows that LM is effectively using its plant and equipment compared to the • industry average and to Boeing • Boeing requires improvement to better utilize its plant and equipment
FIGURE F-28 Consolidated Total Asset RatioAsset Management Ratio Financial Comparison • Evaluates Total Asset usage • LM is generating less sales than total asset investment • Boeing is generating more sales than total asset investment
Consolidated Day Sales Outstanding RatioAsset Management Ratio Financial Comparison FIGURE F-29 • Represents the average length of time after making a sale before receiving • a cash payment • Boeing is approximately 2.5 times better than industry average • LM is exceeding the industry average on collecting payments
FIGURE F-30 Consolidated Debt RatioDebt Management Ratio Financial Comparison • Shows how the company is financed • Both companies debt ratios are higher than the industry average • Creditors have supplied approximately 67% of the total financing • May make it costly to borrow additional funds without raising more equity • capital
FIGURE F-31 Consolidated Times Interest Earned RatioDebt Management Ratio Financial Comparison • Shows the ability to pay interest • Both companies have sufficient funds to meet annual interest costs even if • operating incomes declines
FIGURE F-32 Divisional SalesMilitary Aircraft & SpaceFinancial Comparison • Boeing and LM Military Aircraft and Space Divisions Sales are nearly equal • Note Boeing overall Sales exceed LM by 1.6 times • Boeing’s Sales are increasing while LM’s are remaining flat
FIGURE F-33 Divisional Net EBITMilitary Aircraft & SpaceFinancial Comparison • Military Aircraft & Space did not contribute to the overall 1997 Earnings • per share loss
FIGURE F-34 Divisional Total AssetsMilitary Aircraft & SpaceFinancial Comparison
FIGURE F-35 Divisional Net Capital ExpendituresMilitary Aircraft & SpaceFinancial Comparison
