The Boeing Company (BA) vs Space Exploration Technologies Corp. (SPCX)

The Boeing Company and Space Exploration Technologies Corp. are both Aerospace & Defense companies. Space Exploration Technologies Corp. is the larger, with a market value of $1.68T against $136.7B — 12.3× the size. Space Exploration Technologies Corp. has negative trailing earnings, so its P/E is not meaningful; The Boeing Company trades at 17.9×. The Boeing Company has the higher net margin (7.70% vs −10.7%) and the higher return on invested capital (19.2% vs −0.33%). Across the 17 metrics below, The Boeing Company leads on 11 and Space Exploration Technologies Corp. on 6.

Valuation

Metric BA SPCX Aerospace & Defense median
P/E 17.89 n/m 28.48
P/S 1.44 46.62 2.95
P/B 20.90 8.45 2.68
Price to free cash flow 1,304.86 n/m 31.70
EV/EBITDA 13.49 140.42 16.85
EV/Sales 1.71 45.03 2.74
Earnings yield 5.59% (1.43%) 0.89%
Free cash flow yield 0.08% (2.63%) 0.00%

Profitability

Metric BA SPCX Aerospace & Defense median
Gross margin 9.42% 56.74% 26.41%
Operating margin 10.26% (2.08%) 3.69%
Net margin 7.70% (10.71%) 2.74%
Free cash flow margin 0.12% (122.62%) 0.00%
Return on equity (858.49%) (3.78%) 4.44%
Return on assets 4.56% (2.21%) 1.90%
Return on invested capital 19.15% (0.33%) 0.26%

Growth

Metric BA SPCX Aerospace & Defense median
Revenue growth (TTM) 17.53% — 18.03%
EPS growth (last fiscal year) 113.51% (93,838.89%) 24.80%
Revenue growth, 5-year CAGR 9.00% — 9.73%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric BA SPCX Aerospace & Defense median
Debt to equity 7.00 0.22 0.20
Current ratio 1.13 3.08 2.85
Net debt to EBITDA 3.96 (0.44) 1.29

Dividend

Metric BA SPCX Aerospace & Defense median
Dividend yield — 2.87% 0.91%
Payout ratio — — 0.30

Size

Metric BA SPCX Aerospace & Defense median
Market cap 136.70b 1.68t 1.78b

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