Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Price to Sales (P/S) since 2005
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Raytheon Co., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-10-01), 10-Q (reporting date: 2017-07-02), 10-Q (reporting date: 2017-04-02), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-10-02), 10-Q (reporting date: 2016-07-03), 10-Q (reporting date: 2016-04-03), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-27), 10-Q (reporting date: 2015-06-28), 10-Q (reporting date: 2015-03-29).
- Current liabilities
- The proportion of current liabilities relative to total liabilities, redeemable noncontrolling interests, and equity showed a generally increasing trend over the observed periods. Starting around 20.27% in early 2015, it peaked at 28.33% by the end of 2019, indicating an increasing reliance on short-term obligations. Notably, the rise accelerated in the latter part of 2018 and into 2019.
- Commercial paper and current portion of long-term debt
- This item was not present or negligible until early 2017. From then, it appeared consistently and increased sharply in the final quarter of 2019, rising to 4.34%. This suggests a growing short-term debt burden in recent quarters.
- Contract liabilities
- Contract liabilities as a percentage of the total remained relatively stable, oscillating around 7% to 10%. There was a gradual increase from approximately 7% in early 2015 to a peak near 10.38% by late 2018, followed by a mild decrease through 2019, showing some volatility but overall consistency relative to total liabilities and equity.
- Accounts payable
- Accounts payable remained relatively stable throughout the period, generally fluctuating between 4% and 5%, with a notable increase to 6.16% in late 2018. This spike was temporary, with the ratio settling back near 5.2% at the end of 2019, indicating modest variations in supplier obligations.
- Accrued employee compensation
- This liability showed a rising trend, starting just above 3% in early 2015 and increasing to approximately 5.25% by the end of 2019. The growth was gradual but consistent, reflecting increasing accrued compensation obligations.
- Other current liabilities
- Other current liabilities displayed some fluctuations but stayed largely within the range of approximately 3.7% to 5.9%. A decline was noted around 2017 and 2018, trending downwards to near 4.1% by the end of 2019, indicating a modest reduction relative to total.
- Long-term debt, excluding current portion
- There was a clear downward trend in long-term debt share of total obligations from about 19.18% in early 2015 to 9.43% by the end of 2019. This consistent decrease suggests debt reduction or refinancing strategies aimed at lowering long-term debt exposure over the observed years.
- Accrued retiree benefits and other long-term liabilities
- This component maintained a relatively stable proportion, around 20% to 27%, with some decline visible from late 2017 through 2019. The drop from near 27% to approximately 20% indicates either settlement of benefits or reclassification effects.
- Total liabilities
- Total liabilities as a percentage of the whole fluctuated moderately, moving from approximately 64.36% in early 2015 to a low near 59.14% in late 2019, followed by an uptick to 64.55% at the end of 2019. This reflects varying degrees of leverage and potentially changes in capital structure.
- Redeemable noncontrolling interests
- This interest remained minor and somewhat stable, mostly around 1% with small fluctuations, except for a notable drop to 0.09% in the final quarter of 2019, indicating decreased ownership interests redeemable by minority stakeholders.
- Stockholders’ equity
- Total equity proportions fluctuated between about 32% and 39%, showing an overall stable but somewhat variable equity base relative to total financing. The equity peaked around 39.56% in late 2019 but fell back to 35.36% by year-end 2019, reflecting changes in retained earnings and other equity components.
- Accumulated other comprehensive loss
- This loss showed persistent negative values around -25% to -29%, with slight improvements and deteriorations over time. The negative balance indicates ongoing unrealized losses or deductions impacting shareholders’ equity.
- Retained earnings
- Retained earnings consistently increased from approximately 57.62% to a peak of around 65.44% in late 2018, before slightly declining and stabilizing near 62% by the end of 2019. This rising trend highlights accumulated profits retained for reinvestment or debt reduction.