Stock Analysis on Net
Stock Analysis on Net

Raytheon Co. (NYSE:RTN)

This company was transferred to the archive: financial data is no longer updated!

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Beginner level


Short-term Activity Ratios (Summary)

Raytheon Co., short-term (operating) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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
Turnover Ratios
Inventory turnover 31.91 26.15 21.83 22.58 25.82 24.07 26.44 29.81 32.11 26.78 31.64 30.18 27.23 27.80 26.82 28.48 27.68
Receivables turnover 21.39 19.48 17.46 19.33 16.42 17.34 19.71 15.63 19.15 17.81 15.74 18.43
Payables turnover 11.92 14.27 14.87 14.63 9.97 13.90 13.89 15.20 12.56 13.78 14.38 14.10 11.81 12.79 12.81 13.91 12.53
Working capital turnover 8.87 6.81 7.68 8.40 7.03 7.61 6.04 6.13 6.37 5.79 5.64 5.78 5.66 5.82 6.23 6.57 6.31
Average No. Days
Average inventory processing period 11 14 17 16 14 15 14 12 11 14 12 12 13 13 14 13 13
Add: Average receivable collection period 17 19 21 19 22 21 19 23 19 20 23 20
Operating cycle 28 33 38 35 36 36 33 35 30 34 35 32
Less: Average payables payment period 31 26 25 25 37 26 26 24 29 26 25 26 31 29 28 26 29
Cash conversion cycle -3 7 13 10 -1 10 7 11 1 8 10 6

Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Raytheon Co.’s inventory turnover ratio improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
Receivables turnover An activity ratio equal to revenue divided by receivables. Raytheon Co.’s receivables turnover ratio improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Raytheon Co.’s payables turnover ratio decreased from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Raytheon Co.’s working capital turnover ratio deteriorated from Q2 2019 to Q3 2019 but then improved from Q3 2019 to Q4 2019 exceeding Q2 2019 level.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Raytheon Co.’s number of days of inventory outstanding improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Raytheon Co.’s number of days of receivables outstanding improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Raytheon Co.’s operating cycle improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Raytheon Co.’s number of days of payables outstanding increased from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Raytheon Co.’s cash conversion cycle improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Inventory Turnover

Raytheon Co., inventory turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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)
Cost of sales, products and services 5,832  5,499  5,205  4,877  5,393  4,871  4,777  4,532  5,171  4,690  4,685  4,530  4,655  4,512  4,380  4,400  4,808  4,408  4,525  3,833 
Inventories 671  802  932  882  758  804  725  640  594  693  581  599  659  651  671  637  635  619  519  506 
Short-term Activity Ratio
Inventory turnover1 31.91 26.15 21.83 22.58 25.82 24.07 26.44 29.81 32.11 26.78 31.64 30.18 27.23 27.80 26.82 28.48 27.68
Benchmarks
Inventory Turnover, Competitors2
Boeing Co. 0.94 1.03 1.16 1.24 1.30 1.29 1.28 1.27 1.71 1.74 1.77 1.82 1.87 1.92 1.89 1.75 1.74
General Dynamics Corp. 5.12 4.88 4.86 5.03 4.93 4.42 4.46 4.48 4.67 4.26 4.25 4.26 7.13 6.78 7.12 7.22 7.53
Lockheed Martin Corp. 14.22 14.44 13.74 14.81 15.51 15.59 15.13 14.26 10.14 9.24 8.85 8.44 9.03 8.53 8.07 7.92 8.25
Northrop Grumman Corp. 33.95 32.64 31.83 31.65 35.63 30.68 30.40 46.59 25.45 19.41 18.48 20.29 22.95 22.82 18.54 19.94 22.16
Raytheon Technologies Corp. 5.21 4.99 4.98 5.00 4.96 5.29 5.18 5.05 4.45 4.26 4.28 4.46 4.76 4.56 4.67 4.77 4.97

Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q4 2019 Calculation
Inventory turnover = (Cost of sales, products and servicesQ4 2019 + Cost of sales, products and servicesQ3 2019 + Cost of sales, products and servicesQ2 2019 + Cost of sales, products and servicesQ1 2019) ÷ Inventories
= (5,832 + 5,499 + 5,205 + 4,877) ÷ 671 = 31.91

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Raytheon Co.’s inventory turnover ratio improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Receivables Turnover

Raytheon Co., receivables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 sales 7,842  7,446  7,159  6,729  7,360  6,806  6,625  6,267  6,783  6,284  6,281  6,000  6,238  6,033  6,035  5,763  6,328  5,783  5,848  5,288 
Receivables, net 1,364  1,473  1,607  1,424  1,648  1,527  1,317  1,639  1,324  1,393  1,560  1,319  —  —  —  —  —  —  —  — 
Short-term Activity Ratio
Receivables turnover1 21.39 19.48 17.46 19.33 16.42 17.34 19.71 15.63 19.15 17.81 15.74 18.43
Benchmarks
Receivables Turnover, Competitors2
Boeing Co. 23.44 24.41 28.00 27.44 26.07 33.93 34.47 34.19 8.88 8.58 9.57 9.95 10.71 9.96 9.87 9.95 11.03
General Dynamics Corp. 11.10 11.17 10.42 10.20 9.63 9.13 8.41 8.24 8.56 9.12 8.42 8.92 8.68 8.83 8.81 8.60 9.13
Lockheed Martin Corp. 25.59 24.47 22.58 19.93 22.00 22.55 21.09 21.76 5.93 5.51 5.60 5.41 5.76 5.18 4.99 5.38 5.72
Northrop Grumman Corp. 25.52 15.76 17.95 14.57 20.78 16.79 14.88 21.17 6.49 5.79 5.89 6.10 7.43 6.51 6.78 7.03 8.28
Raytheon Technologies Corp. 5.70 5.55 5.30 5.13 4.66 5.11 5.24 5.24 4.75 4.48 4.61 4.87 4.99 4.95 4.88 5.15 5.27

Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q4 2019 Calculation
Receivables turnover = (Net salesQ4 2019 + Net salesQ3 2019 + Net salesQ2 2019 + Net salesQ1 2019) ÷ Receivables, net
= (7,842 + 7,446 + 7,159 + 6,729) ÷ 1,364 = 21.39

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Raytheon Co.’s receivables turnover ratio improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Payables Turnover

Raytheon Co., payables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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)
Cost of sales, products and services 5,832  5,499  5,205  4,877  5,393  4,871  4,777  4,532  5,171  4,690  4,685  4,530  4,655  4,512  4,380  4,400  4,808  4,408  4,525  3,833 
Accounts payable 1,796  1,470  1,368  1,361  1,964  1,392  1,380  1,255  1,519  1,347  1,278  1,282  1,520  1,415  1,405  1,304  1,402  1,334  1,171  1,141 
Short-term Activity Ratio
Payables turnover1 11.92 14.27 14.87 14.63 9.97 13.90 13.89 15.20 12.56 13.78 14.38 14.10 11.81 12.79 12.81 13.91 12.53
Benchmarks
Payables Turnover, Competitors2
Boeing Co. 4.63 4.99 5.21 5.53 6.30 5.84 6.10 6.15 6.23 5.90 6.20 6.59 7.21 6.84 7.12 7.15 7.59
General Dynamics Corp. 10.21 10.69 11.01 10.35 9.27 9.11 8.66 8.72 7.73 9.07 9.47 10.06 9.89 10.89 11.78 11.77 12.90
Lockheed Martin Corp. 40.16 17.27 18.94 15.71 19.35 17.67 17.18 16.79 31.02 15.58 17.12 15.75 25.52 14.58 14.91 15.23 20.74
Northrop Grumman Corp. 11.94 13.08 13.14 12.74 10.68 11.37 11.50 14.53 11.95 12.97 13.86 13.78 12.05 13.73 14.19 14.87 13.95
Raytheon Technologies Corp. 5.28 5.17 4.90 5.06 4.51 4.56 4.83 5.09 4.59 4.77 4.95 5.57 5.54 5.57 5.64 6.17 5.88

Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q4 2019 Calculation
Payables turnover = (Cost of sales, products and servicesQ4 2019 + Cost of sales, products and servicesQ3 2019 + Cost of sales, products and servicesQ2 2019 + Cost of sales, products and servicesQ1 2019) ÷ Accounts payable
= (5,832 + 5,499 + 5,205 + 4,877) ÷ 1,796 = 11.92

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Raytheon Co.’s payables turnover ratio decreased from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Working Capital Turnover

Raytheon Co., working capital turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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)
Current assets 13,082  12,029  11,526  10,956  12,136  10,635  11,315  10,960  11,326  10,778  10,937  10,515  10,678  10,155  9,850  9,359  9,812  9,528  8,704  10,241 
Less: Current liabilities 9,791  7,815  7,871  7,680  8,288  7,156  7,017  6,779  7,348  6,492  6,587  6,307  6,427  6,001  6,014  5,749  6,126  6,328  5,641  5,635 
Working capital 3,291  4,214  3,655  3,276  3,848  3,479  4,298  4,181  3,978  4,286  4,350  4,208  4,251  4,154  3,836  3,610  3,686  3,200  3,063  4,606 
 
Net sales 7,842  7,446  7,159  6,729  7,360  6,806  6,625  6,267  6,783  6,284  6,281  6,000  6,238  6,033  6,035  5,763  6,328  5,783  5,848  5,288 
Short-term Activity Ratio
Working capital turnover1 8.87 6.81 7.68 8.40 7.03 7.61 6.04 6.13 6.37 5.79 5.64 5.78 5.66 5.82 6.23 6.57 6.31
Benchmarks
Working Capital Turnover, Competitors2
Boeing Co. 15.57 8.87 31.54 17.08 16.21 11.87 11.22 8.70 10.50 9.38 9.16 7.38 7.66 6.90 7.09 6.01 5.39
General Dynamics Corp. 13.21 20.25 24.81 10.88 10.49 7.99 10.01 5.95 5.92 6.35 8.58 9.01 12.05 9.09 13.86 17.80 14.80
Lockheed Martin Corp. 19.15 13.61 19.37 21.49 31.53 32.92 19.95 13.44 10.58 12.04 16.77 16.04 18.41 17.29 96.91 54.26 21.55
Northrop Grumman Corp. 27.05 13.75 16.41 19.45 21.40 13.65 14.30 2.70 2.75 19.68 37.16 17.73 19.99 35.80 34.65 31.32 26.83
Raytheon Technologies Corp. 26.47 33.59 44.35 17.41 16.08 4.68 5.46 7.66 7.07 7.62 6.52 10.34 8.62 9.47 9.73 8.01 13.72

Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q4 2019 Calculation
Working capital turnover = (Net salesQ4 2019 + Net salesQ3 2019 + Net salesQ2 2019 + Net salesQ1 2019) ÷ Working capital
= (7,842 + 7,446 + 7,159 + 6,729) ÷ 3,291 = 8.87

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Raytheon Co.’s working capital turnover ratio deteriorated from Q2 2019 to Q3 2019 but then improved from Q3 2019 to Q4 2019 exceeding Q2 2019 level.

Average Inventory Processing Period

Raytheon Co., average inventory processing period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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
Inventory turnover 31.91 26.15 21.83 22.58 25.82 24.07 26.44 29.81 32.11 26.78 31.64 30.18 27.23 27.80 26.82 28.48 27.68
Short-term Activity Ratio (no. days)
Average inventory processing period1 11 14 17 16 14 15 14 12 11 14 12 12 13 13 14 13 13
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Boeing Co. 388 355 314 294 280 284 284 289 213 209 207 200 195 190 193 209 210
General Dynamics Corp. 71 75 75 73 74 83 82 81 78 86 86 86 51 54 51 51 48
Lockheed Martin Corp. 26 25 27 25 24 23 24 26 36 40 41 43 40 43 45 46 44
Northrop Grumman Corp. 11 11 11 12 10 12 12 8 14 19 20 18 16 16 20 18 16
Raytheon Technologies Corp. 70 73 73 73 74 69 71 72 82 86 85 82 77 80 78 77 73

Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q4 2019 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 31.91 = 11

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Raytheon Co.’s number of days of inventory outstanding improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Average Receivable Collection Period

Raytheon Co., average receivable collection period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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
Receivables turnover 21.39 19.48 17.46 19.33 16.42 17.34 19.71 15.63 19.15 17.81 15.74 18.43
Short-term Activity Ratio (no. days)
Average receivable collection period1 17 19 21 19 22 21 19 23 19 20 23 20
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Boeing Co. 16 15 13 13 14 11 11 11 41 43 38 37 34 37 37 37 33
General Dynamics Corp. 33 33 35 36 38 40 43 44 43 40 43 41 42 41 41 42 40
Lockheed Martin Corp. 14 15 16 18 17 16 17 17 62 66 65 68 63 70 73 68 64
Northrop Grumman Corp. 14 23 20 25 18 22 25 17 56 63 62 60 49 56 54 52 44
Raytheon Technologies Corp. 64 66 69 71 78 71 70 70 77 81 79 75 73 74 75 71 69

Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q4 2019 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 21.39 = 17

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Raytheon Co.’s number of days of receivables outstanding improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Operating Cycle

Raytheon Co., operating cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
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
Average inventory processing period 11 14 17 16 14 15 14 12 11 14 12 12 13 13 14 13 13
Average receivable collection period 17 19 21 19 22 21 19 23 19 20 23 20
Short-term Activity Ratio
Operating cycle1 28 33 38 35 36 36 33 35 30 34 35 32
Benchmarks
Operating Cycle, Competitors2
Boeing Co. 404 370 327 307 294 295 295 300 254 252 245 237 229 227 230 246 243
General Dynamics Corp. 104 108 110 109 112 123 125 125 121 126 129 127 93 95 92 93 88
Lockheed Martin Corp. 40 40 43 43 41 39 41 43 98 106 106 111 103 113 118 114 108
Northrop Grumman Corp. 25 34 31 37 28 34 37 25 70 82 82 78 65 72 74 70 60
Raytheon Technologies Corp. 134 139 142 144 152 140 141 142 159 167 164 157 150 154 153 148 142

Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q4 2019 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 11 + 17 = 28

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Raytheon Co.’s operating cycle improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Average Payables Payment Period

Raytheon Co., average payables payment period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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
Payables turnover 11.92 14.27 14.87 14.63 9.97 13.90 13.89 15.20 12.56 13.78 14.38 14.10 11.81 12.79 12.81 13.91 12.53
Short-term Activity Ratio (no. days)
Average payables payment period1 31 26 25 25 37 26 26 24 29 26 25 26 31 29 28 26 29
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Boeing Co. 79 73 70 66 58 63 60 59 59 62 59 55 51 53 51 51 48
General Dynamics Corp. 36 34 33 35 39 40 42 42 47 40 39 36 37 34 31 31 28
Lockheed Martin Corp. 9 21 19 23 19 21 21 22 12 23 21 23 14 25 24 24 18
Northrop Grumman Corp. 31 28 28 29 34 32 32 25 31 28 26 26 30 27 26 25 26
Raytheon Technologies Corp. 69 71 75 72 81 80 76 72 80 76 74 66 66 66 65 59 62

Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q4 2019 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 11.92 = 31

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Raytheon Co.’s number of days of payables outstanding increased from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Cash Conversion Cycle

Raytheon Co., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
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
Average inventory processing period 11 14 17 16 14 15 14 12 11 14 12 12 13 13 14 13 13
Average receivable collection period 17 19 21 19 22 21 19 23 19 20 23 20
Average payables payment period 31 26 25 25 37 26 26 24 29 26 25 26 31 29 28 26 29
Short-term Activity Ratio
Cash conversion cycle1 -3 7 13 10 -1 10 7 11 1 8 10 6
Benchmarks
Cash Conversion Cycle, Competitors2
Boeing Co. 325 297 257 241 236 232 235 241 195 190 186 182 178 174 179 195 195
General Dynamics Corp. 68 74 77 74 73 83 83 83 74 86 90 91 56 61 61 62 60
Lockheed Martin Corp. 31 19 24 20 22 18 20 21 86 83 85 88 89 88 94 90 90
Northrop Grumman Corp. -6 6 3 8 -6 2 5 0 39 54 56 52 35 45 48 45 34
Raytheon Technologies Corp. 65 68 67 72 71 60 65 70 79 91 90 91 84 88 88 89 80

Based on: 10-K (filing date: 2020-02-12), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-10), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q4 2019 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 11 + 1731 = -3

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Raytheon Co.’s cash conversion cycle improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.