Stock Analysis on Net

Raytheon Co. (NYSE:RTN)

This company has been moved to the archive! The financial data has not been updated since February 12, 2020.

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

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Historical Valuation Ratios (Summary)

Raytheon Co., historical price multiples (quarterly data)

Microsoft Excel
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
Price to earnings (P/E) 19.14 17.88 17.45 16.24 17.56 20.34 22.89 28.19 30.30 24.17 23.08 19.88 20.13 17.88 18.90 19.40 18.25
Price to operating profit (P/OP) 13.40 12.49 11.45 10.77 11.25 11.98 14.19 16.76 18.48 15.88 15.10 13.50 13.74 12.48 13.15 13.60 12.56
Price to sales (P/S) 2.19 2.05 1.91 1.80 1.89 1.90 2.11 2.37 2.42 2.12 2.00 1.87 1.85 1.66 1.70 1.60 1.63
Price to book value (P/BV) 5.23 4.53 4.40 4.24 4.45 4.44 5.18 5.92 6.16 4.84 4.55 4.38 4.42 3.82 3.95 3.74 3.74 3.48 3.12 3.41

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).

Valuation 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. P/E ratio increased from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
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. P/OP ratio increased from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
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. P/S ratio increased from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Raytheon Co. P/BV ratio increased from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Price to Earnings (P/E)

Raytheon Co., historical P/E calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 278,441,000 278,479,000 278,534,000 279,871,000 282,239,000 284,577,000 285,260,000 287,250,000 288,506,000 289,087,000 290,249,000 291,074,000 292,880,000 293,647,000 295,095,000 296,980,000 298,998,000 301,098,000 303,548,000 305,142,000
Selected Financial Data (US$)
Net income attributable to Raytheon Company (in millions) 885 860 817 781 832 644 800 633 393 572 553 506 544 529 709 429 571 447 505 551
Earnings per share (EPS)2 12.01 11.81 11.04 10.92 10.31 8.68 8.41 7.49 7.02 7.52 7.35 7.86 7.55 7.62 7.31 6.57 6.94 0.00 0.00 0.00
Share price1, 3 229.76 211.21 192.63 177.37 180.94 176.52 192.43 211.07 212.58 181.86 169.53 156.26 151.96 136.28 138.06 127.51 126.57 117.28 103.21 108.55
Valuation Ratio
P/E ratio4 19.14 17.88 17.45 16.24 17.56 20.34 22.89 28.19 30.30 24.17 23.08 19.88 20.13 17.88 18.90 19.40 18.25
Benchmarks
P/E Ratio, Competitors5
Boeing Co.
Caterpillar Inc. 12.36
Cummins Inc. 10.92
Eaton Corp. plc 18.06
General Electric Co.
Honeywell International Inc. 20.97
Lockheed Martin Corp. 19.87
RTX Corp. 24.41

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 Data adjusted for splits and stock dividends.

2 Q4 2019 Calculation
EPS = (Net income attributable to Raytheon CompanyQ4 2019 + Net income attributable to Raytheon CompanyQ3 2019 + Net income attributable to Raytheon CompanyQ2 2019 + Net income attributable to Raytheon CompanyQ1 2019) ÷ No. shares of common stock outstanding
= (885,000,000 + 860,000,000 + 817,000,000 + 781,000,000) ÷ 278,441,000 = 12.01

3 Closing price as at the filing date of Raytheon Co. Quarterly or Annual Report.

4 Q4 2019 Calculation
P/E ratio = Share price ÷ EPS
= 229.76 ÷ 12.01 = 19.14

5 Click competitor name to see calculations.

Valuation 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. P/E ratio increased from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Price to Operating Profit (P/OP)

Raytheon Co., historical P/OP calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 278,441,000 278,479,000 278,534,000 279,871,000 282,239,000 284,577,000 285,260,000 287,250,000 288,506,000 289,087,000 290,249,000 291,074,000 292,880,000 293,647,000 295,095,000 296,980,000 298,998,000 301,098,000 303,548,000 305,142,000
Selected Financial Data (US$)
Operating income (in millions) 1,279 1,206 1,176 1,113 1,214 1,183 1,100 1,041 870 858 849 741 862 806 960 612 828 697 648 840
Operating profit per share2 17.15 16.91 16.82 16.47 16.08 14.74 13.56 12.60 11.50 11.45 11.22 11.57 11.06 10.92 10.49 9.38 10.08 0.00 0.00 0.00
Share price1, 3 229.76 211.21 192.63 177.37 180.94 176.52 192.43 211.07 212.58 181.86 169.53 156.26 151.96 136.28 138.06 127.51 126.57 117.28 103.21 108.55
Valuation Ratio
P/OP ratio4 13.40 12.49 11.45 10.77 11.25 11.98 14.19 16.76 18.48 15.88 15.10 13.50 13.74 12.48 13.15 13.60 12.56
Benchmarks
P/OP Ratio, Competitors5
Boeing Co.
Caterpillar Inc. 9.08
Cummins Inc. 9.14
Eaton Corp. plc 13.95
General Electric Co. 9.22
Honeywell International Inc. 18.81
Lockheed Martin Corp. 14.49
RTX Corp. 15.07

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 Data adjusted for splits and stock dividends.

2 Q4 2019 Calculation
Operating profit per share = (Operating incomeQ4 2019 + Operating incomeQ3 2019 + Operating incomeQ2 2019 + Operating incomeQ1 2019) ÷ No. shares of common stock outstanding
= (1,279,000,000 + 1,206,000,000 + 1,176,000,000 + 1,113,000,000) ÷ 278,441,000 = 17.15

3 Closing price as at the filing date of Raytheon Co. Quarterly or Annual Report.

4 Q4 2019 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 229.76 ÷ 17.15 = 13.40

5 Click competitor name to see calculations.

Valuation 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. P/OP ratio increased from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Price to Sales (P/S)

Raytheon Co., historical P/S calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 278,441,000 278,479,000 278,534,000 279,871,000 282,239,000 284,577,000 285,260,000 287,250,000 288,506,000 289,087,000 290,249,000 291,074,000 292,880,000 293,647,000 295,095,000 296,980,000 298,998,000 301,098,000 303,548,000 305,142,000
Selected Financial Data (US$)
Net sales (in millions) 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
Sales per share2 104.78 103.04 100.72 98.33 95.87 93.05 91.00 89.17 87.86 85.80 84.59 83.50 82.18 82.27 81.02 79.88 77.75 0.00 0.00 0.00
Share price1, 3 229.76 211.21 192.63 177.37 180.94 176.52 192.43 211.07 212.58 181.86 169.53 156.26 151.96 136.28 138.06 127.51 126.57 117.28 103.21 108.55
Valuation Ratio
P/S ratio4 2.19 2.05 1.91 1.80 1.89 1.90 2.11 2.37 2.42 2.12 2.00 1.87 1.85 1.66 1.70 1.60 1.63
Benchmarks
P/S Ratio, Competitors5
Boeing Co. 2.34
Caterpillar Inc. 1.48
Cummins Inc. 1.05
Eaton Corp. plc 1.87
General Electric Co. 1.18
Honeywell International Inc. 3.51
Lockheed Martin Corp. 2.07
RTX Corp. 1.75

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 Data adjusted for splits and stock dividends.

2 Q4 2019 Calculation
Sales per share = (Net salesQ4 2019 + Net salesQ3 2019 + Net salesQ2 2019 + Net salesQ1 2019) ÷ No. shares of common stock outstanding
= (7,842,000,000 + 7,446,000,000 + 7,159,000,000 + 6,729,000,000) ÷ 278,441,000 = 104.78

3 Closing price as at the filing date of Raytheon Co. Quarterly or Annual Report.

4 Q4 2019 Calculation
P/S ratio = Share price ÷ Sales per share
= 229.76 ÷ 104.78 = 2.19

5 Click competitor name to see calculations.

Valuation 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. P/S ratio increased from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Price to Book Value (P/BV)

Raytheon Co., historical P/BV calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 278,441,000 278,479,000 278,534,000 279,871,000 282,239,000 284,577,000 285,260,000 287,250,000 288,506,000 289,087,000 290,249,000 291,074,000 292,880,000 293,647,000 295,095,000 296,980,000 298,998,000 301,098,000 303,548,000 305,142,000
Selected Financial Data (US$)
Total Raytheon Company stockholders’ equity (in millions) 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
Book value per share (BVPS)2 43.90 46.62 43.82 41.83 40.65 39.74 37.18 35.64 34.53 37.56 37.26 35.67 34.37 35.64 34.96 34.09 33.87 33.70 33.13 31.81
Share price1, 3 229.76 211.21 192.63 177.37 180.94 176.52 192.43 211.07 212.58 181.86 169.53 156.26 151.96 136.28 138.06 127.51 126.57 117.28 103.21 108.55
Valuation Ratio
P/BV ratio4 5.23 4.53 4.40 4.24 4.45 4.44 5.18 5.92 6.16 4.84 4.55 4.38 4.42 3.82 3.95 3.74 3.74 3.48 3.12 3.41
Benchmarks
P/BV Ratio, Competitors5
Boeing Co. 1,689.96
Caterpillar Inc. 5.16 5.09 4.81 5.06
Cummins Inc. 3.29 3.47 3.15 3.35
Eaton Corp. plc 2.48 2.32 2.14 2.16
General Electric Co. 3.66 3.16 2.55 2.52
Honeywell International Inc. 6.97 6.61 7.00 6.56
Lockheed Martin Corp. 39.60 26.86 35.45 37.84
RTX Corp. 3.24 3.05 2.87 3.05

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 Data adjusted for splits and stock dividends.

2 Q4 2019 Calculation
BVPS = Total Raytheon Company stockholders’ equity ÷ No. shares of common stock outstanding
= 12,223,000,000 ÷ 278,441,000 = 43.90

3 Closing price as at the filing date of Raytheon Co. Quarterly or Annual Report.

4 Q4 2019 Calculation
P/BV ratio = Share price ÷ BVPS
= 229.76 ÷ 43.90 = 5.23

5 Click competitor name to see calculations.

Valuation 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 required rate of return and its actual rate of return. Raytheon Co. P/BV ratio increased from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.