BA Net Debt / EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
Net Debt / EBITDA History
Historically priceyAbove avgAround avgBelow avgHistorically cheap
BA Net Debt / EBITDA by year
Yearly range of BA’s net debt / ebitda from 2016 to 2026. Over the full period it ranged from -243.1 to 72.5, averaging -12.3.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 5.2 | 5.4 | 5.6 | 5.6 |
| 2025 | -9.5 | -4.4 | 5.9 | 5.9 |
| 2024 | -12.7 | 9.2 | 37.3 | -5.3 |
| 2023 | -188.3 | -18.1 | 72.5 | 17.2 |
| 2022 | -87.1 | -41.0 | -9.8 | -87.1 |
| 2021 | -243.1 | -68.6 | -6.5 | -243.1 |
| 2020 | -16.4 | -10.5 | -5.6 | -5.6 |
| 2019 | 0.6 | 7.2 | 24.6 | 24.6 |
| 2018 | 0.2 | 0.3 | 0.4 | 0.4 |
| 2017 | 0.2 | 0.2 | 0.3 | 0.2 |
| 2016 | 0.2 | 0.2 | 0.2 | 0.2 |
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How many years of operating earnings it would take to pay off the company's net debt. The most common leverage ratio — higher means more financial risk and less flexibility.
Formula
(Total Debt − Cash) / EBITDAHow to read this chart
Watch the trend more than the level. Declining ratio = deleveraging, growing financial flexibility. Rising ratio = increasing leverage, which constrains dividends, buybacks, and future investment.
Key caveats
- Sector context is essential: 3× is aggressive for a consumer brand but normal for a regulated utility. Always compare to sector peers.
- Large acquisitions spike the ratio temporarily — check whether the integration plan credibly drives paydown.
Pro — up to 30-year history
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.