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Raytheon Co. (RTN)
Common Stock Valuation Ratios (Price Multiples)
Difficulty: Beginner
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Current Valuation Ratios
Raytheon Co., current price multiples
| Raytheon Co. | Boeing Co. | General Dynamics Corp. | Lockheed Martin Corp. | Northrop Grumman Corp. | United Technologies Corp. | Aerospace & Defense | Industrials | |
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| Selected Financial Data | ||||||||
| Current share price (P) | $ |
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| No. shares of common stock outstanding | |
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| Growth rate (g) | |
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| Earnings per share (EPS) | $ |
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| Next year expected EPS | $ |
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| Operating profit per share | $ |
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| Sales per share | $ |
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| Book value per share (BVPS) | $ |
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| Ratios (Price Multiples) | ||||||||
| Price to earnings (P/E) | |
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| Price to next year expected earnings | |
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| Price-earnings-growth (PEG) | |
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| Price to operating profit (P/OP) | |
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| Price to sales (P/S) | |
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| Price to book value (P/BV) | |
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Based on: 10-K (filing date: 2019-02-13).
If company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.
Historical Valuation Ratios (Summary)
Raytheon Co., historical price multiples
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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| Price to earnings (P/E) | |
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| Price to operating profit (P/OP) | |
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| Price to sales (P/S) | |
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| Price to book value (P/BV) | |
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Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-11).
| Ratio | Description | The company |
|---|---|---|
| P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | Raytheon Co.’s P/E ratio increased from 2016 to 2017 but then declined significantly from 2017 to 2018. |
| P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | Raytheon Co.’s P/OP ratio increased from 2016 to 2017 but then declined significantly from 2017 to 2018. |
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | Raytheon Co.’s P/S ratio increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level. |
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. | Raytheon Co.’s P/BV ratio increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level. |
Price to Earnings (P/E)
Raytheon Co., historical P/E calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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| No. shares of common stock outstanding1 | |
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| Selected Financial Data (USD $) | ||||||
| Net income attributable to Raytheon Company (in millions) | |
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| Earnings per share (EPS)3 | |
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| Share price1, 2 | |
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| Ratio | ||||||
| P/E ratio4 | |
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| Benchmarks | ||||||
| P/E Ratio, Competitors | ||||||
| Boeing Co. | |
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| General Dynamics Corp. | |
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| Lockheed Martin Corp. | |
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| Northrop Grumman Corp. | |
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| United Technologies Corp. | |
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| P/E Ratio, Sector | ||||||
| Aerospace & Defense | |
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| P/E Ratio, Industry | ||||||
| Industrials | |
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Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-11).
1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of Raytheon Co.’s Annual Report.
2018 Calculations
3 EPS = Net income attributable to Raytheon Company ÷ No. shares of common stock outstanding
= ÷ =
4 P/E ratio = Share price ÷ EPS
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | Raytheon Co.’s P/E ratio increased from 2016 to 2017 but then declined significantly from 2017 to 2018. |
Price to Operating Profit (P/OP)
Raytheon Co., historical P/OP calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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| No. shares of common stock outstanding1 | |
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| Selected Financial Data (USD $) | ||||||
| Operating income (in millions) | |
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| Operating profit per share3 | |
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| Share price1, 2 | |
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| Ratio | ||||||
| P/OP ratio4 | |
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| Benchmarks | ||||||
| P/OP Ratio, Competitors | ||||||
| Boeing Co. | |
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| General Dynamics Corp. | |
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| Lockheed Martin Corp. | |
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| Northrop Grumman Corp. | |
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| United Technologies Corp. | |
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| P/OP Ratio, Sector | ||||||
| Aerospace & Defense | |
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| P/OP Ratio, Industry | ||||||
| Industrials | |
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Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-11).
1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of Raytheon Co.’s Annual Report.
2018 Calculations
3 Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= ÷ =
4 P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | Raytheon Co.’s P/OP ratio increased from 2016 to 2017 but then declined significantly from 2017 to 2018. |
Price to Sales (P/S)
Raytheon Co., historical P/S calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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| No. shares of common stock outstanding1 | |
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| Selected Financial Data (USD $) | ||||||
| Net sales (in millions) | |
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| Sales per share3 | |
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| Share price1, 2 | |
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| Ratio | ||||||
| P/S ratio4 | |
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| Benchmarks | ||||||
| P/S Ratio, Competitors | ||||||
| Boeing Co. | |
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| General Dynamics Corp. | |
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| Lockheed Martin Corp. | |
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| Northrop Grumman Corp. | |
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| United Technologies Corp. | |
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| P/S Ratio, Sector | ||||||
| Aerospace & Defense | |
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| P/S Ratio, Industry | ||||||
| Industrials | |
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Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-11).
1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of Raytheon Co.’s Annual Report.
2018 Calculations
3 Sales per share = Net sales ÷ No. shares of common stock outstanding
= ÷ =
4 P/S ratio = Share price ÷ Sales per share
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | Raytheon Co.’s P/S ratio increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level. |
Price to Book Value (P/BV)
Raytheon Co., historical P/BV calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |
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| Selected Financial Data (USD $) | ||||||
| Total Raytheon Company stockholders’ equity (in millions) | |
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| Book value per share (BVPS)3 | |
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| Share price1, 2 | |
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| Ratio | ||||||
| P/BV ratio4 | |
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| Benchmarks | ||||||
| P/BV Ratio, Competitors | ||||||
| Boeing Co. | |
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| General Dynamics Corp. | |
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| Lockheed Martin Corp. | |
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| Northrop Grumman Corp. | |
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| United Technologies Corp. | |
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| P/BV Ratio, Sector | ||||||
| Aerospace & Defense | |
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| P/BV Ratio, Industry | ||||||
| Industrials | |
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Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-11).
1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of Raytheon Co.’s Annual Report.
2018 Calculations
3 BVPS = Total Raytheon Company stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
4 P/BV ratio = Share price ÷ BVPS
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. | Raytheon Co.’s P/BV ratio increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level. |