If You Invested $1,000 in Boeing or GE 5 Years Ago, Here’s What You’d Have Today

Five years ago, you had $1,000 to invest and two famous American industrial names to choose from. Boeing (NYSE: BA | BA Price Prediction) looked like the safer bet: a century-old aerospace giant, a dividend payer, a blue-chip name. General Electric, now GE Aerospace (NYSE: GE), looked like a cautionary tale, a conglomerate that had spent years destroying shareholder value. The investor who chose GE won, and it wasn’t close.

Boeing’s Five Years of Compounding Crises

Boeing entered 2021 still reeling from the 737 MAX grounding, then faced COVID-19 decimating air travel demand, supply chain failures, and a machinists’ strike that hampered late-2024 production. While CEO Kelly Ortberg has stabilized operations—delivering 143 aircraft in Q1 2026—the financial hole remains deep. Boeing currently carries a staggering $54.1 billion in consolidated debt, and while its $695 billion backlog is a record, the company continues to burn cash to reach its goal of producing 42 aircraft per month.

GE’s Methodical Reinvention

While Boeing was surviving, GE was transforming into a lean, pure-play aerospace engine maker. Following the successful spinoffs of GE HealthCare and GE Vernova, the remaining GE Aerospace has become a free-cash-flow powerhouse. In Q1 2026, the company reported $12.4 billion in revenue, up 25% year-over-year. GE’s strength lies in its engine services; as airlines are forced to maintain older fleets due to new aircraft delays, GE’s commercial engine services revenue has surged, creating a massive competitive moat.

Service vs. Production: The 2026 Divergence

A critical shift has occurred in 2026: GE has transitioned from a turnaround story to a valuation peak, while Boeing is attempting a “regime change” from crisis to stabilization. GE Aerospace is currently trending toward the high end of its $8.0 billion to $8.4 billion free cash flow guidance, benefiting from a high-inflation environment where engine maintenance is non-negotiable. Conversely, Boeing is in a capital-intensive “heavy lift” phase, where it must spend billions just to fulfill its existing orders.

What $1,000 Became

Boeing

• 1-Year Return: $1,000 became $1,458 (+45.75%) vs. S&P 500 $1,159 (+15.92%)
• 5-Year Return: $1,000 became $916 (-8.41%) vs. S&P 500 $1,714 (+71.37%)
• 10-Year Return: $1,000 became $1,993 (+99.30%) vs. S&P 500 $3,293 (+229.27%)

GE Aerospace

• 1-Year Return: $1,000 became $1,617 (+61.73%) vs. S&P 500 $1,159 (+15.92%)
• 5-Year Return: $1,000 became $4,826 (+382.62%) vs. S&P 500 $1,714 (+71.37%)
• 10-Year Return: $1,000 became $2,406 (+140.57%) vs. S&P 500 $3,293 (+229.27%)

Note: Calculations based on market prices as of May 12, 2026.

On dividends: Boeing suspended its payout in 2020 and has not restored it. GE built its dividend to $0.36 per quarter in 2025, significantly exceeding pre-restructuring levels.

A Quantitative Entry Point Analysis

As of today, GE Aerospace trades near $295 with a trailing P/E of 40x, suggesting the “transformation” is fully priced in. For income-focused investors, GE has moved from a growth play to a prime candidate for covered call strategies to extract yield from a high-valuation stock. Boeing, trading near $237, remains a high-risk “coiled spring” with a forward P/E near 164x. Until Boeing can offset its $54 billion debt drag with sustained positive free cash flow, it remains a speculative recovery play rather than a foundational investment.

Editor’s Note: This article was updated on May 12, 2026, to include Q1 2026 financial results, record backlog data for both companies, and a new analysis comparing GE’s service-based moat against Boeing’s production-heavy recovery.