Analysis of Short-term (Operating) Activity Ratios
Quarterly Data
Beginner level
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Raytheon Co., short-term (operating) activity ratios (quarterly data)
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)
| 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)
| 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)
| 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)
| 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)
| 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)
| 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
| 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)
| 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
| 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 + 17 – 31 = -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. |