Stock Analysis on Net
Stock Analysis on Net

Raytheon Technologies Corp. (NYSE:RTX)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Beginner level


Long-term Activity Ratios (Summary)

Raytheon Technologies Corp., long-term (investment) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Net fixed asset turnover 4.82 6.16 6.04 6.19 5.90 5.70 5.41 6.27 6.20 5.96 5.87 6.02 6.13 6.23 6.25 6.33 6.32 6.41 6.42
Net fixed asset turnover (including operating lease, right-of-use asset) 4.22 5.09 5.02 5.12 4.83 4.72 5.41 6.27 6.20 5.96 5.87 6.02 6.13 6.23 6.25 6.33 6.32 6.41 6.42
Total asset turnover 0.44 0.55 0.55 0.54 0.52 0.51 0.50 0.56 0.62 0.62 0.62 0.61 0.61 0.64 0.64 0.63 0.63 0.63 0.64
Equity turnover 1.06 1.95 1.84 1.87 1.78 1.75 1.73 2.00 2.00 2.01 2.02 1.97 2.04 2.09 2.08 1.95 1.94 1.98 2.05

Based on: 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-28), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-23), 10-Q (filing date: 2015-07-24), 10-Q (filing date: 2015-04-24).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Raytheon Technologies Corp.’s net fixed asset turnover ratio improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Raytheon Technologies Corp.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Raytheon Technologies Corp.’s total asset turnover ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Raytheon Technologies Corp.’s equity turnover ratio improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.

Net Fixed Asset Turnover

Raytheon Technologies Corp., net fixed asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Net sales 14,061  18,210  19,551  19,496  19,634  18,365  18,044  16,510  16,705  15,242  15,680  15,062  15,280  13,815  14,659  14,354  14,874  13,357  14,300  13,788  14,690  13,320 
Fixed assets, net 14,805  12,484  12,755  12,200  12,292  12,210  12,297  10,236  10,115  10,283  10,186  9,763  9,475  9,255  9,158  8,989  8,911  8,763  8,732  8,515  9,266  9,175 
Long-term Activity Ratio
Net fixed asset turnover1 4.82 6.16 6.04 6.19 5.90 5.70 5.41 6.27 6.20 5.96 5.87 6.02 6.13 6.23 6.25 6.33 6.32 6.41 6.42
Benchmarks
Net Fixed Asset Turnover, Competitors2
Boeing Co. 5.47 5.69 6.12 6.94 7.31 7.99 8.00 7.81 7.72 7.59 7.37 7.18 7.09 7.24 7.38 7.46 7.72 7.87 7.96
General Dynamics Corp. 8.17 8.56 8.79 9.24 9.36 9.35 8.32 8.03 7.80 8.79 8.81 8.94 9.08 9.11 9.04 8.98 9.07 9.03 9.08
Lockheed Martin Corp. 9.44 9.25 9.07 9.35 9.32 9.20 8.78 9.23 9.05 8.98 8.84 9.01 8.87 8.75 8.51 8.64 8.52 8.56 8.40
Northrop Grumman Corp. 4.91 4.93 4.90 5.03 5.04 4.91 4.72 4.74 4.61 6.13 6.11 6.51 6.63 6.79 6.83 7.14 7.16 7.28 7.68

Based on: 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-28), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-23), 10-Q (filing date: 2015-07-24), 10-Q (filing date: 2015-04-24).

1 Q2 2020 Calculation
Net fixed asset turnover = (Net salesQ2 2020 + Net salesQ1 2020 + Net salesQ4 2019 + Net salesQ3 2019) ÷ Fixed assets, net
= (14,061 + 18,210 + 19,551 + 19,496) ÷ 14,805 = 4.82

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Raytheon Technologies Corp.’s net fixed asset turnover ratio improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Raytheon Technologies Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Net sales 14,061  18,210  19,551  19,496  19,634  18,365  18,044  16,510  16,705  15,242  15,680  15,062  15,280  13,815  14,659  14,354  14,874  13,357  14,300  13,788  14,690  13,320 
 
Fixed assets, net 14,805  12,484  12,755  12,200  12,292  12,210  12,297  10,236  10,115  10,283  10,186  9,763  9,475  9,255  9,158  8,989  8,911  8,763  8,732  8,515  9,266  9,175 
Operating lease right-of-use assets 2,102  2,624  2,599  2,556  2,740  2,533  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Fixed assets, net (including operating lease, right-of-use asset) 16,907  15,108  15,354  14,756  15,032  14,743  12,297  10,236  10,115  10,283  10,186  9,763  9,475  9,255  9,158  8,989  8,911  8,763  8,732  8,515  9,266  9,175 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 4.22 5.09 5.02 5.12 4.83 4.72 5.41 6.27 6.20 5.96 5.87 6.02 6.13 6.23 6.25 6.33 6.32 6.41 6.42
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Northrop Grumman Corp. 4.04 4.07 4.02 4.10 4.22 4.10 4.72 4.74 4.61 6.13 6.11 6.51 6.63 6.79 6.83 7.14 7.16 7.28 7.68

Based on: 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-28), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-23), 10-Q (filing date: 2015-07-24), 10-Q (filing date: 2015-04-24).

1 Q2 2020 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (Net salesQ2 2020 + Net salesQ1 2020 + Net salesQ4 2019 + Net salesQ3 2019) ÷ Fixed assets, net (including operating lease, right-of-use asset)
= (14,061 + 18,210 + 19,551 + 19,496) ÷ 16,907 = 4.22

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Raytheon Technologies Corp.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.

Total Asset Turnover

Raytheon Technologies Corp., total asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Net sales 14,061  18,210  19,551  19,496  19,634  18,365  18,044  16,510  16,705  15,242  15,680  15,062  15,280  13,815  14,659  14,354  14,874  13,357  14,300  13,788  14,690  13,320 
Total assets 161,517  139,572  139,716  139,009  138,990  137,380  134,211  114,939  101,569  98,779  96,920  96,352  94,793  90,373  89,706  90,062  89,480  88,571  87,484  92,135  92,773  91,327 
Long-term Activity Ratio
Total asset turnover1 0.44 0.55 0.55 0.54 0.52 0.51 0.50 0.56 0.62 0.62 0.62 0.61 0.61 0.64 0.64 0.63 0.63 0.63 0.64
Benchmarks
Total Asset Turnover, Competitors2
Boeing Co. 0.41 0.49 0.57 0.66 0.73 0.84 0.86 0.86 0.86 0.84 1.01 1.00 1.01 1.04 1.05 1.07 1.08 1.06 1.02
General Dynamics Corp. 0.77 0.72 0.81 0.80 0.80 0.80 0.80 0.73 0.69 0.83 0.88 0.89 0.92 0.94 0.95 0.95 0.98 0.99 0.98
Lockheed Martin Corp. 1.27 1.24 1.26 1.18 1.20 1.18 1.20 1.20 1.16 1.11 1.10 1.01 1.01 0.98 0.99 0.95 0.92 0.92 0.94
Northrop Grumman Corp. 0.80 0.79 0.82 0.82 0.83 0.79 0.80 0.75 0.72 0.76 0.74 0.96 0.98 0.98 0.96 0.99 0.98 0.98 0.96

Based on: 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-28), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-23), 10-Q (filing date: 2015-07-24), 10-Q (filing date: 2015-04-24).

1 Q2 2020 Calculation
Total asset turnover = (Net salesQ2 2020 + Net salesQ1 2020 + Net salesQ4 2019 + Net salesQ3 2019) ÷ Total assets
= (14,061 + 18,210 + 19,551 + 19,496) ÷ 161,517 = 0.44

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Raytheon Technologies Corp.’s total asset turnover ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Equity Turnover

Raytheon Technologies Corp., equity turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Net sales 14,061  18,210  19,551  19,496  19,634  18,365  18,044  16,510  16,705  15,242  15,680  15,062  15,280  13,815  14,659  14,354  14,874  13,357  14,300  13,788  14,690  13,320 
Shareowners’ equity 67,225  39,411  41,774  40,468  40,754  39,738  38,446  32,106  31,364  30,534  29,610  29,881  28,442  27,594  27,579  29,187  29,090  28,353  27,358  30,525  30,377  28,650 
Long-term Activity Ratio
Equity turnover1 1.06 1.95 1.84 1.87 1.78 1.75 1.73 2.00 2.00 2.01 2.02 1.97 2.04 2.09 2.08 1.95 1.94 1.98 2.05
Benchmarks
Equity Turnover, Competitors2
Boeing Co. 805.30 298.31 78.39 263.08 84.08 978.05 115.75 45.41 165.49 23.89 15.17
General Dynamics Corp. 2.78 2.94 2.90 2.88 2.97 3.10 3.08 2.67 2.72 2.64 2.71 2.67 2.84 2.94 2.86 2.73 2.84 2.97 2.93
Lockheed Martin Corp. 16.77 17.74 19.13 14.99 20.17 22.91 38.57 57.78 125.81 23.67 38.77 32.32 31.27 19.98 15.46 14.60 14.90
Northrop Grumman Corp. 3.57 3.78 3.84 3.42 3.57 3.61 3.68 3.14 3.28 3.42 3.66 3.94 4.26 4.47 4.66 4.13 4.16 4.19 4.26

Based on: 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-26), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-28), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-23), 10-Q (filing date: 2015-07-24), 10-Q (filing date: 2015-04-24).

1 Q2 2020 Calculation
Equity turnover = (Net salesQ2 2020 + Net salesQ1 2020 + Net salesQ4 2019 + Net salesQ3 2019) ÷ Shareowners’ equity
= (14,061 + 18,210 + 19,551 + 19,496) ÷ 67,225 = 1.06

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Raytheon Technologies Corp.’s equity turnover ratio improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.