I just realized mid February that Airbus market capitalization was higher than Boeing’s. At that point one was just above $125bn while the other was just below $123bn.
This is just a quick post to update those figures with today’s (March 11th, 2024) values at the closure of markets in NYSE and Paris, plus adding some historical perspective and evolution.
March 11th 2024
- Airbus stock price: 156.8€, outstanding shares ~790.46 million (787.4 million at the end of 2023 as per the 2023 annual financial report), exchange rate 1.0926 $/€ … Airbus market capitalization ~ $135.4bn
- Boeing stock price: 192.49$, outstanding shares ~610.1 million (610.1 million in January 2024 as per the 2023 annual financial report)… Boeing market capitalization ~ $117.4bn
- Airbus market cap is 15% higher than Boeing’s
(This is not the first time that this happens. Looking back at the evolution of both stock prices and exchange rates, around mid May 2022 Airbus market cap was around 20% higher than Boeing’s.)
Now, looking back in time, at the end of 2012
- Airbus stock price: 29.4€ (Dec 28th, last day of business), outstanding shares ~822.14 million (as per the 2012 annual financial report), exchange rate 1.3072 $/€ … Airbus market capitalization ~ $31.6bn
- Boeing stock price: 75.36$ (Dec 31st, last day of business), outstanding shares ~755.6 million (as per the 2012 annual financial report)… Boeing market capitalization ~ $56.9bn
- Boeing market cap was then 80% higher than Airbus’
Evolution from end 2012 to March 2024:
- Airbus market cap has increased by x4.29 in these 11.19 years… share price increased by x5.33, hence yielding a compounded annual growth rate (CAGR) of 16.1%
- Boeing market cap has increased by x2.06… share price increased by x2.55, yielding a 8.7% CAGR
As a final note, I leave here a link to an article from Leeham News and Analysis “Pontifications: A contrarian view of Stock Buybacks“, where they include a table with the cumulative investment by Boeing between 2013 and 2019 (both inclusive) in share buy backs, which amounts to $43.5bn.
The Blog by Javier 