Stock Analysis on Net
Stock Analysis on Net

Raytheon Technologies Corp. (NYSE:RTX)

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Price to FCFE (P/FCFE)

Intermediate level


Free Cash Flow to Equity (FCFE)

Raytheon Technologies Corp., FCFE calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net income attributable to common shareowners
Noncontrolling interest in subsidiaries’ earnings
Net noncash charges
Change in operating capital
Net cash flows provided by operating activities
Capital expenditures
Issuance of long-term debt
Repayment of long-term debt
Increase (decrease) in short-term borrowings, net
Free cash flow to equity (FCFE)

Based on: 10-K (filing date: 2020-02-06), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-09), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Raytheon Technologies Corp.’s equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Raytheon Technologies Corp.’s FCFE increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.

Price to FCFE Ratio, Current

Raytheon Technologies Corp., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
No. shares of common stock outstanding
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)
FCFE per share
Current share price (P)
Valuation Ratio
P/FCFE
Benchmarks
P/FCFE, Competitors1
Boeing Co.
General Dynamics Corp.
Lockheed Martin Corp.
Northrop Grumman Corp.
P/FCFE, Sector
Aerospace & Defense
P/FCFE, Industry
Industrials

Based on: 10-K (filing date: 2020-02-06).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Raytheon Technologies Corp., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
No. shares of common stock outstanding1
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2
FCFE per share3
Share price1, 4
Valuation Ratio
P/FCFE5
Benchmarks
P/FCFE, Competitors6
Boeing Co.
General Dynamics Corp.
Lockheed Martin Corp.
Northrop Grumman Corp.
P/FCFE, Sector
Aerospace & Defense
P/FCFE, Industry
Industrials

Based on: 10-K (filing date: 2020-02-06), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-09), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2019 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =

4 Closing price as at the filing date of Raytheon Technologies Corp.’s Annual Report.

5 2019 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Raytheon Technologies Corp.’s P/FCFE ratio decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.