Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Raytheon Co., solvency ratios (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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Raytheon Co. debt to equity ratio improved from Q2 2019 to Q3 2019 but then slightly deteriorated from Q3 2019 to Q4 2019. |
| Debt to equity (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Raytheon Co. debt to equity ratio (including operating lease liability) improved from Q2 2019 to Q3 2019 but then slightly deteriorated from Q3 2019 to Q4 2019 not reaching Q2 2019 level. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Raytheon Co. debt to capital ratio improved from Q2 2019 to Q3 2019 but then slightly deteriorated from Q3 2019 to Q4 2019. |
| Debt to capital (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Raytheon Co. debt to capital ratio (including operating lease liability) improved from Q2 2019 to Q3 2019 but then slightly deteriorated from Q3 2019 to Q4 2019 not reaching Q2 2019 level. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Raytheon Co. debt to assets ratio improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019. |
| Debt to assets (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Raytheon Co. debt to assets ratio (including operating lease liability) improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Raytheon Co. financial leverage ratio decreased from Q2 2019 to Q3 2019 but then increased from Q3 2019 to Q4 2019 exceeding Q2 2019 level. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Raytheon Co. interest coverage ratio improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019. |
Debt to Equity
Raytheon Co., debt to equity calculation (quarterly data)
| Dec 31, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | Dec 31, 2017 | Oct 1, 2017 | Jul 2, 2017 | Apr 2, 2017 | Dec 31, 2016 | Oct 2, 2016 | Jul 3, 2016 | Apr 3, 2016 | Dec 31, 2015 | Sep 27, 2015 | Jun 28, 2015 | Mar 29, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Commercial paper and current portion of long-term debt | 1,499) | 500) | 800) | 800) | 300) | 300) | 300) | 300) | 300) | 300) | 300) | 251) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Long-term debt, excluding current portion | 3,261) | 4,258) | 4,257) | 4,256) | 4,755) | 4,753) | 4,752) | 4,751) | 4,750) | 4,749) | 4,747) | 5,086) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Total debt | 4,760) | 4,758) | 5,057) | 5,056) | 5,055) | 5,053) | 5,052) | 5,051) | 5,050) | 5,049) | 5,047) | 5,337) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Total Raytheon Company stockholders’ equity | 12,223) | 12,982) | 12,204) | 11,708) | 11,472) | 11,310) | 10,607) | 10,237) | 9,963) | 10,857) | 10,815) | 10,384) | 10,066) | 10,467) | 10,316) | 10,124) | 10,128) | 10,148) | 10,056) | 9,707) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to equity1 | 0.39 | 0.37 | 0.41 | 0.43 | 0.44 | 0.45 | 0.48 | 0.49 | 0.51 | 0.47 | 0.47 | 0.51 | 0.53 | 0.51 | 0.52 | 0.53 | 0.53 | 0.53 | 0.53 | 0.55 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | — | — | — | 117.95 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Caterpillar Inc. | 2.58 | 2.54 | 2.45 | 2.32 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cummins Inc. | 0.32 | 0.34 | 0.27 | 0.31 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Eaton Corp. plc | 0.52 | 0.51 | 0.50 | 0.47 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| General Electric Co. | 3.21 | 3.34 | 2.95 | 3.06 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Honeywell International Inc. | 0.87 | 1.03 | 0.91 | 0.86 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Lockheed Martin Corp. | 4.05 | 3.48 | 4.75 | 5.65 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| RTX Corp. | 1.04 | 1.10 | 1.11 | 1.14 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
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).
1 Q4 2019 Calculation
Debt to equity = Total debt ÷ Total Raytheon Company stockholders’ equity
= 4,760 ÷ 12,223 = 0.39
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Raytheon Co. debt to equity ratio improved from Q2 2019 to Q3 2019 but then slightly deteriorated from Q3 2019 to Q4 2019. |
Debt to Equity (including Operating Lease Liability)
Raytheon Co., debt to equity (including operating lease liability) calculation (quarterly data)
| Dec 31, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | Dec 31, 2017 | Oct 1, 2017 | Jul 2, 2017 | Apr 2, 2017 | Dec 31, 2016 | Oct 2, 2016 | Jul 3, 2016 | Apr 3, 2016 | Dec 31, 2015 | Sep 27, 2015 | Jun 28, 2015 | Mar 29, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Commercial paper and current portion of long-term debt | 1,499) | 500) | 800) | 800) | 300) | 300) | 300) | 300) | 300) | 300) | 300) | 251) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Long-term debt, excluding current portion | 3,261) | 4,258) | 4,257) | 4,256) | 4,755) | 4,753) | 4,752) | 4,751) | 4,750) | 4,749) | 4,747) | 5,086) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Total debt | 4,760) | 4,758) | 5,057) | 5,056) | 5,055) | 5,053) | 5,052) | 5,051) | 5,050) | 5,049) | 5,047) | 5,337) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Operating lease liabilities, noncurrent | 706) | 692) | 720) | 652) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Total debt (including operating lease liability) | 5,466) | 5,450) | 5,777) | 5,708) | 5,055) | 5,053) | 5,052) | 5,051) | 5,050) | 5,049) | 5,047) | 5,337) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Total Raytheon Company stockholders’ equity | 12,223) | 12,982) | 12,204) | 11,708) | 11,472) | 11,310) | 10,607) | 10,237) | 9,963) | 10,857) | 10,815) | 10,384) | 10,066) | 10,467) | 10,316) | 10,124) | 10,128) | 10,148) | 10,056) | 9,707) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to equity (including operating lease liability)1 | 0.45 | 0.42 | 0.47 | 0.49 | 0.44 | 0.45 | 0.48 | 0.49 | 0.51 | 0.47 | 0.47 | 0.51 | 0.53 | 0.51 | 0.52 | 0.53 | 0.53 | 0.53 | 0.53 | 0.55 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||
| Eaton Corp. plc | 0.54 | 0.53 | 0.51 | 0.48 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| RTX Corp. | 1.10 | 1.15 | 1.17 | 1.19 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
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).
1 Q4 2019 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Raytheon Company stockholders’ equity
= 5,466 ÷ 12,223 = 0.45
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Raytheon Co. debt to equity ratio (including operating lease liability) improved from Q2 2019 to Q3 2019 but then slightly deteriorated from Q3 2019 to Q4 2019 not reaching Q2 2019 level. |
Debt to Capital
Raytheon Co., debt to capital calculation (quarterly data)
| Dec 31, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | Dec 31, 2017 | Oct 1, 2017 | Jul 2, 2017 | Apr 2, 2017 | Dec 31, 2016 | Oct 2, 2016 | Jul 3, 2016 | Apr 3, 2016 | Dec 31, 2015 | Sep 27, 2015 | Jun 28, 2015 | Mar 29, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Commercial paper and current portion of long-term debt | 1,499) | 500) | 800) | 800) | 300) | 300) | 300) | 300) | 300) | 300) | 300) | 251) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Long-term debt, excluding current portion | 3,261) | 4,258) | 4,257) | 4,256) | 4,755) | 4,753) | 4,752) | 4,751) | 4,750) | 4,749) | 4,747) | 5,086) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Total debt | 4,760) | 4,758) | 5,057) | 5,056) | 5,055) | 5,053) | 5,052) | 5,051) | 5,050) | 5,049) | 5,047) | 5,337) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Total Raytheon Company stockholders’ equity | 12,223) | 12,982) | 12,204) | 11,708) | 11,472) | 11,310) | 10,607) | 10,237) | 9,963) | 10,857) | 10,815) | 10,384) | 10,066) | 10,467) | 10,316) | 10,124) | 10,128) | 10,148) | 10,056) | 9,707) | ||||||
| Total capital | 16,983) | 17,740) | 17,261) | 16,764) | 16,527) | 16,363) | 15,659) | 15,288) | 15,013) | 15,906) | 15,862) | 15,721) | 15,401) | 15,801) | 15,649) | 15,456) | 15,458) | 15,482) | 15,389) | 15,038) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to capital1 | 0.28 | 0.27 | 0.29 | 0.30 | 0.31 | 0.31 | 0.32 | 0.33 | 0.34 | 0.32 | 0.32 | 0.34 | 0.35 | 0.34 | 0.34 | 0.34 | 0.34 | 0.34 | 0.35 | 0.35 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | 1.46 | 1.20 | 1.38 | 0.99 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Caterpillar Inc. | 0.72 | 0.72 | 0.71 | 0.70 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cummins Inc. | 0.24 | 0.25 | 0.21 | 0.24 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Eaton Corp. plc | 0.34 | 0.34 | 0.33 | 0.32 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| General Electric Co. | 0.76 | 0.77 | 0.75 | 0.75 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Honeywell International Inc. | 0.46 | 0.51 | 0.48 | 0.46 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Lockheed Martin Corp. | 0.80 | 0.78 | 0.83 | 0.85 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| RTX Corp. | 0.51 | 0.52 | 0.53 | 0.53 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
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).
1 Q4 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= 4,760 ÷ 16,983 = 0.28
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Raytheon Co. debt to capital ratio improved from Q2 2019 to Q3 2019 but then slightly deteriorated from Q3 2019 to Q4 2019. |
Debt to Capital (including Operating Lease Liability)
Raytheon Co., debt to capital (including operating lease liability) calculation (quarterly data)
| Dec 31, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | Dec 31, 2017 | Oct 1, 2017 | Jul 2, 2017 | Apr 2, 2017 | Dec 31, 2016 | Oct 2, 2016 | Jul 3, 2016 | Apr 3, 2016 | Dec 31, 2015 | Sep 27, 2015 | Jun 28, 2015 | Mar 29, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Commercial paper and current portion of long-term debt | 1,499) | 500) | 800) | 800) | 300) | 300) | 300) | 300) | 300) | 300) | 300) | 251) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Long-term debt, excluding current portion | 3,261) | 4,258) | 4,257) | 4,256) | 4,755) | 4,753) | 4,752) | 4,751) | 4,750) | 4,749) | 4,747) | 5,086) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Total debt | 4,760) | 4,758) | 5,057) | 5,056) | 5,055) | 5,053) | 5,052) | 5,051) | 5,050) | 5,049) | 5,047) | 5,337) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Operating lease liabilities, noncurrent | 706) | 692) | 720) | 652) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Total debt (including operating lease liability) | 5,466) | 5,450) | 5,777) | 5,708) | 5,055) | 5,053) | 5,052) | 5,051) | 5,050) | 5,049) | 5,047) | 5,337) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Total Raytheon Company stockholders’ equity | 12,223) | 12,982) | 12,204) | 11,708) | 11,472) | 11,310) | 10,607) | 10,237) | 9,963) | 10,857) | 10,815) | 10,384) | 10,066) | 10,467) | 10,316) | 10,124) | 10,128) | 10,148) | 10,056) | 9,707) | ||||||
| Total capital (including operating lease liability) | 17,689) | 18,432) | 17,981) | 17,416) | 16,527) | 16,363) | 15,659) | 15,288) | 15,013) | 15,906) | 15,862) | 15,721) | 15,401) | 15,801) | 15,649) | 15,456) | 15,458) | 15,482) | 15,389) | 15,038) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to capital (including operating lease liability)1 | 0.31 | 0.30 | 0.32 | 0.33 | 0.31 | 0.31 | 0.32 | 0.33 | 0.34 | 0.32 | 0.32 | 0.34 | 0.35 | 0.34 | 0.34 | 0.34 | 0.34 | 0.34 | 0.35 | 0.35 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||
| Eaton Corp. plc | 0.35 | 0.35 | 0.34 | 0.33 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| RTX Corp. | 0.52 | 0.54 | 0.54 | 0.54 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
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).
1 Q4 2019 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 5,466 ÷ 17,689 = 0.31
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Raytheon Co. debt to capital ratio (including operating lease liability) improved from Q2 2019 to Q3 2019 but then slightly deteriorated from Q3 2019 to Q4 2019 not reaching Q2 2019 level. |
Debt to Assets
Raytheon Co., debt to assets calculation (quarterly data)
| Dec 31, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | Dec 31, 2017 | Oct 1, 2017 | Jul 2, 2017 | Apr 2, 2017 | Dec 31, 2016 | Oct 2, 2016 | Jul 3, 2016 | Apr 3, 2016 | Dec 31, 2015 | Sep 27, 2015 | Jun 28, 2015 | Mar 29, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Commercial paper and current portion of long-term debt | 1,499) | 500) | 800) | 800) | 300) | 300) | 300) | 300) | 300) | 300) | 300) | 251) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Long-term debt, excluding current portion | 3,261) | 4,258) | 4,257) | 4,256) | 4,755) | 4,753) | 4,752) | 4,751) | 4,750) | 4,749) | 4,747) | 5,086) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Total debt | 4,760) | 4,758) | 5,057) | 5,056) | 5,055) | 5,053) | 5,052) | 5,051) | 5,050) | 5,049) | 5,047) | 5,337) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Total assets | 34,566) | 32,817) | 33,186) | 31,576) | 31,864) | 30,134) | 30,738) | 30,497) | 30,860) | 30,278) | 30,229) | 29,869) | 30,052) | 29,452) | 29,098) | 28,829) | 29,281) | 29,249) | 28,437) | 27,798) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to assets1 | 0.14 | 0.14 | 0.15 | 0.16 | 0.16 | 0.17 | 0.16 | 0.17 | 0.16 | 0.17 | 0.17 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.19 | 0.19 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | 0.20 | 0.19 | 0.15 | 0.12 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Caterpillar Inc. | 0.48 | 0.49 | 0.46 | 0.45 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cummins Inc. | 0.12 | 0.13 | 0.11 | 0.12 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Eaton Corp. plc | 0.25 | 0.25 | 0.25 | 0.24 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| General Electric Co. | 0.34 | 0.35 | 0.34 | 0.34 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Honeywell International Inc. | 0.27 | 0.31 | 0.28 | 0.28 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Lockheed Martin Corp. | 0.27 | 0.28 | 0.28 | 0.29 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| RTX Corp. | 0.31 | 0.32 | 0.33 | 0.33 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
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).
1 Q4 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= 4,760 ÷ 34,566 = 0.14
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Raytheon Co. debt to assets ratio improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019. |
Debt to Assets (including Operating Lease Liability)
Raytheon Co., debt to assets (including operating lease liability) calculation (quarterly data)
| Dec 31, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | Dec 31, 2017 | Oct 1, 2017 | Jul 2, 2017 | Apr 2, 2017 | Dec 31, 2016 | Oct 2, 2016 | Jul 3, 2016 | Apr 3, 2016 | Dec 31, 2015 | Sep 27, 2015 | Jun 28, 2015 | Mar 29, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Commercial paper and current portion of long-term debt | 1,499) | 500) | 800) | 800) | 300) | 300) | 300) | 300) | 300) | 300) | 300) | 251) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Long-term debt, excluding current portion | 3,261) | 4,258) | 4,257) | 4,256) | 4,755) | 4,753) | 4,752) | 4,751) | 4,750) | 4,749) | 4,747) | 5,086) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Total debt | 4,760) | 4,758) | 5,057) | 5,056) | 5,055) | 5,053) | 5,052) | 5,051) | 5,050) | 5,049) | 5,047) | 5,337) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Operating lease liabilities, noncurrent | 706) | 692) | 720) | 652) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Total debt (including operating lease liability) | 5,466) | 5,450) | 5,777) | 5,708) | 5,055) | 5,053) | 5,052) | 5,051) | 5,050) | 5,049) | 5,047) | 5,337) | 5,335) | 5,334) | 5,333) | 5,332) | 5,330) | 5,334) | 5,333) | 5,331) | ||||||
| Total assets | 34,566) | 32,817) | 33,186) | 31,576) | 31,864) | 30,134) | 30,738) | 30,497) | 30,860) | 30,278) | 30,229) | 29,869) | 30,052) | 29,452) | 29,098) | 28,829) | 29,281) | 29,249) | 28,437) | 27,798) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to assets (including operating lease liability)1 | 0.16 | 0.17 | 0.17 | 0.18 | 0.16 | 0.17 | 0.16 | 0.17 | 0.16 | 0.17 | 0.17 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.19 | 0.19 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||
| Eaton Corp. plc | 0.26 | 0.26 | 0.26 | 0.25 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| RTX Corp. | 0.33 | 0.34 | 0.34 | 0.34 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
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).
1 Q4 2019 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 5,466 ÷ 34,566 = 0.16
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Raytheon Co. debt to assets ratio (including operating lease liability) improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019. |
Financial Leverage
Raytheon Co., financial leverage calculation (quarterly data)
| Dec 31, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | Dec 31, 2017 | Oct 1, 2017 | Jul 2, 2017 | Apr 2, 2017 | Dec 31, 2016 | Oct 2, 2016 | Jul 3, 2016 | Apr 3, 2016 | Dec 31, 2015 | Sep 27, 2015 | Jun 28, 2015 | Mar 29, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Total assets | 34,566) | 32,817) | 33,186) | 31,576) | 31,864) | 30,134) | 30,738) | 30,497) | 30,860) | 30,278) | 30,229) | 29,869) | 30,052) | 29,452) | 29,098) | 28,829) | 29,281) | 29,249) | 28,437) | 27,798) | ||||||
| Total Raytheon Company stockholders’ equity | 12,223) | 12,982) | 12,204) | 11,708) | 11,472) | 11,310) | 10,607) | 10,237) | 9,963) | 10,857) | 10,815) | 10,384) | 10,066) | 10,467) | 10,316) | 10,124) | 10,128) | 10,148) | 10,056) | 9,707) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Financial leverage1 | 2.83 | 2.53 | 2.72 | 2.70 | 2.78 | 2.66 | 2.90 | 2.98 | 3.10 | 2.79 | 2.80 | 2.88 | 2.99 | 2.81 | 2.82 | 2.85 | 2.89 | 2.88 | 2.83 | 2.86 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | — | — | — | 961.67 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Caterpillar Inc. | 5.38 | 5.22 | 5.34 | 5.10 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cummins Inc. | 2.63 | 2.61 | 2.45 | 2.54 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Eaton Corp. plc | 2.04 | 2.01 | 1.98 | 1.95 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| General Electric Co. | 9.40 | 9.42 | 8.71 | 8.96 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Honeywell International Inc. | 3.17 | 3.32 | 3.23 | 3.12 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Lockheed Martin Corp. | 15.20 | 12.66 | 16.79 | 19.34 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| RTX Corp. | 3.34 | 3.44 | 3.41 | 3.46 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
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).
1 Q4 2019 Calculation
Financial leverage = Total assets ÷ Total Raytheon Company stockholders’ equity
= 34,566 ÷ 12,223 = 2.83
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Raytheon Co. financial leverage ratio decreased from Q2 2019 to Q3 2019 but then increased from Q3 2019 to Q4 2019 exceeding Q2 2019 level. |
Interest Coverage
Raytheon Co., interest coverage calculation (quarterly data)
| Dec 31, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | Dec 31, 2017 | Oct 1, 2017 | Jul 2, 2017 | Apr 2, 2017 | Dec 31, 2016 | Oct 2, 2016 | Jul 3, 2016 | Apr 3, 2016 | Dec 31, 2015 | Sep 27, 2015 | Jun 28, 2015 | Mar 29, 2015 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Net income attributable to Raytheon Company | 885) | 860) | 817) | 781) | 832) | 644) | 800) | 633) | 393) | 572) | 553) | 506) | 544) | 529) | 709) | 429) | 571) | 447) | 505) | 551) | ||||||
| Add: Net income attributable to noncontrolling interest | (4) | —) | (4) | (6) | (5) | (3) | (9) | (10) | (6) | (5) | (6) | (6) | (3) | (5) | (5) | (24) | (4) | (4) | (2) | 3) | ||||||
| Less: Income (loss) from discontinued operations, net of tax | 2) | (1) | —) | —) | (1) | —) | 1) | (1) | —) | (1) | —) | 3) | —) | 1) | (1) | 1) | 13) | (1) | 1) | —) | ||||||
| Add: Income tax expense | 185) | 175) | 152) | 146) | 99) | (5) | 37) | 133) | 447) | 248) | 221) | 198) | 266) | 233) | 202) | 156) | 220) | 189) | 90) | 234) | ||||||
| Add: Interest expense | 46) | 45) | 45) | 44) | 46) | 45) | 46) | 47) | 48) | 48) | 51) | 58) | 58) | 58) | 58) | 58) | 58) | 58) | 59) | 58) | ||||||
| Earnings before interest and tax (EBIT) | 1,110) | 1,081) | 1,010) | 965) | 973) | 681) | 873) | 804) | 882) | 864) | 819) | 753) | 865) | 814) | 965) | 618) | 832) | 691) | 651) | 846) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Interest coverage1 | 23.14 | 22.38 | 20.16 | 19.29 | 18.10 | 17.42 | 18.11 | 17.37 | 16.19 | 15.35 | 14.45 | 14.64 | 14.06 | 13.92 | 13.39 | 11.98 | 12.96 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | -2.19 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Caterpillar Inc. | 19.62 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cummins Inc. | 27.00 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Eaton Corp. plc | 11.98 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| General Electric Co. | 1.27 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Honeywell International Inc. | 22.17 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Lockheed Martin Corp. | 12.09 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
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).
1 Q4 2019 Calculation
Interest coverage
= (EBITQ4 2019
+ EBITQ3 2019
+ EBITQ2 2019
+ EBITQ1 2019)
÷ (Interest expenseQ4 2019
+ Interest expenseQ3 2019
+ Interest expenseQ2 2019
+ Interest expenseQ1 2019)
= (1,110 + 1,081 + 1,010 + 965)
÷ (46 + 45 + 45 + 44)
= 23.14
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Raytheon Co. interest coverage ratio improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019. |