Stock Analysis on Net
Stock Analysis on Net

Raytheon Technologies Corp. (NYSE:RTX)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Beginner level

Historical Valuation Ratios (Summary)

Raytheon Technologies Corp., historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 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
Price to earnings (P/E) 12.02 24.41 24.29 22.64 22.83 19.74 19.82 21.22 21.95 21.97 18.40 17.85 18.13 17.55 11.26 12.51 11.86 9.31
Price to operating profit (P/OP) 258.59 38.06 5.66 15.07 13.67 13.97 14.00 12.16 11.49 12.07 11.76 11.53 11.38 11.24 11.22 10.86 11.90 12.92 12.38 9.71
Price to sales (P/S) 1.29 1.27 0.64 1.75 1.63 1.61 1.74 1.56 1.54 1.72 1.60 1.67 1.62 1.63 1.65 1.55 1.45 1.60 1.56 1.26
Price to book value (P/BV) 1.26 1.35 1.25 3.24 3.05 2.87 3.05 2.71 3.07 3.43 3.21 3.38 3.18 3.34 3.46 3.22 2.82 3.10 3.08 2.59 2.92 2.91 3.61

Based on: 10-Q (filing date: 2020-10-27), 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).

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 Technologies Corp.’s P/OP ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
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 Technologies Corp.’s P/S ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
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 Technologies Corp.’s P/BV ratio increased from Q1 2020 to Q2 2020 but then slightly decreased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.

Price to Earnings (P/E)

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

Microsoft Excel LibreOffice Calc
Sep 30, 2020 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
No. shares of common stock outstanding1 1,518,716,426 1,527,655,238 866,160,621 865,308,981 863,268,940 862,831,280 862,291,415 861,748,797 800,984,201 800,093,285 800,059,478 799,778,295 798,569,921 798,772,783 801,227,504 805,861,740 823,405,687 836,926,949 836,865,684 836,432,010 887,020,937 890,597,745 890,201,794
Selected Financial Data (US$)
Net income (loss) attributable to common shareowners (in millions) 264  (3,835) (83) 1,143  1,148  1,900  1,346  686  1,238  2,048  1,297  397  1,330  1,439  1,386  1,013  1,480  1,379  1,183  3,278  1,362  1,542  1,426 
Earnings per share (EPS)2 -1.65 -1.07 4.74 6.40 5.88 5.99 6.17 6.11 6.22 6.34 5.58 5.69 6.47 6.66 6.56 6.27 8.89 8.61 8.80 9.10 0.00 0.00 0.00
Share price1, 3 56.53 59.40 57.01 156.20 142.96 135.63 140.78 120.72 123.23 134.53 122.46 125.03 119.07 118.87 118.99 110.09 100.07 107.65 104.37 84.66 100.62 99.31 116.16
Valuation Ratio
P/E ratio4 12.02 24.41 24.29 22.64 22.83 19.74 19.82 21.22 21.95 21.97 18.40 17.85 18.13 17.55 11.26 12.51 11.86 9.31
Benchmarks
P/E Ratio, Competitors5
Boeing Co. 50.46 40.72 20.85 21.87 19.81 21.17 21.66 24.68 22.99 19.37 21.39 20.50 20.94 22.83 17.26 14.89
Lockheed Martin Corp. 15.79 16.26 17.09 19.87 17.47 17.27 16.68 16.88 27.66 35.10 39.27 48.70 24.31 16.40 15.14 14.14 13.88 20.92 19.62 18.36
Northrop Grumman Corp. 20.62 22.67 24.55 28.70 19.96 17.46 14.62 14.48 16.27 20.98 26.19 29.23 22.46 19.81 18.96 18.21 18.84 18.99 18.12 17.15

Based on: 10-Q (filing date: 2020-10-27), 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 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
EPS = (Net income (loss) attributable to common shareownersQ3 2020 + Net income (loss) attributable to common shareownersQ2 2020 + Net income (loss) attributable to common shareownersQ1 2020 + Net income (loss) attributable to common shareownersQ4 2019) ÷ No. shares of common stock outstanding
= (264,000,000 + -3,835,000,000 + -83,000,000 + 1,143,000,000) ÷ 1,518,716,426 = -1.65

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

4 Q3 2020 Calculation
P/E ratio = Share price ÷ EPS
= 56.53 ÷ -1.65 =

5 Click competitor name to see calculations.


Price to Operating Profit (P/OP)

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

Microsoft Excel LibreOffice Calc
Sep 30, 2020 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
No. shares of common stock outstanding1 1,518,716,426 1,527,655,238 866,160,621 865,308,981 863,268,940 862,831,280 862,291,415 861,748,797 800,984,201 800,093,285 800,059,478 799,778,295 798,569,921 798,772,783 801,227,504 805,861,740 823,405,687 836,926,949 836,865,684 836,432,010 887,020,937 890,597,745 890,201,794
Selected Financial Data (US$)
Operating profit (loss) (in millions) 434  (3,760) 1,807  1,851  2,486  2,584  2,045  1,911  1,838  2,876  1,928  1,952  2,163  2,290  2,267  1,639  2,251  2,337  1,945  392  2,302  2,415  2,182 
Operating profit per share2 0.22 1.56 10.08 10.36 10.46 9.71 10.05 9.93 10.73 11.15 10.42 10.84 10.47 10.57 10.60 10.14 8.41 8.34 8.43 8.72 0.00 0.00 0.00
Share price1, 3 56.53 59.40 57.01 156.20 142.96 135.63 140.78 120.72 123.23 134.53 122.46 125.03 119.07 118.87 118.99 110.09 100.07 107.65 104.37 84.66 100.62 99.31 116.16
Valuation Ratio
P/OP ratio4 258.59 38.06 5.66 15.07 13.67 13.97 14.00 12.16 11.49 12.07 11.76 11.53 11.38 11.24 11.22 10.86 11.90 12.92 12.38 9.71
Benchmarks
P/OP Ratio, Competitors5
Boeing Co. 43.51 37.86 18.43 19.08 18.58 18.09 17.95 19.69 16.32 15.29 18.07 17.20 18.67 16.60 12.11 10.36
Lockheed Martin Corp. 12.14 12.39 12.72 14.49 12.68 12.47 11.82 11.62 11.87 13.50 14.48 16.47 16.08 14.77 14.12 13.51 13.48 15.04 13.58 12.17
Northrop Grumman Corp. 12.48 13.54 13.94 16.26 15.93 14.52 12.29 12.37 13.77 15.70 17.50 17.85 15.77 13.74 13.18 12.55 13.17 12.88 12.31 11.10

Based on: 10-Q (filing date: 2020-10-27), 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 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
Operating profit per share = (Operating profit (loss)Q3 2020 + Operating profit (loss)Q2 2020 + Operating profit (loss)Q1 2020 + Operating profit (loss)Q4 2019) ÷ No. shares of common stock outstanding
= (434,000,000 + -3,760,000,000 + 1,807,000,000 + 1,851,000,000) ÷ 1,518,716,426 = 0.22

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

4 Q3 2020 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 56.53 ÷ 0.22 = 258.59

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 Technologies Corp.’s P/OP ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Price to Sales (P/S)

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

Microsoft Excel LibreOffice Calc
Sep 30, 2020 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
No. shares of common stock outstanding1 1,518,716,426 1,527,655,238 866,160,621 865,308,981 863,268,940 862,831,280 862,291,415 861,748,797 800,984,201 800,093,285 800,059,478 799,778,295 798,569,921 798,772,783 801,227,504 805,861,740 823,405,687 836,926,949 836,865,684 836,432,010 887,020,937 890,597,745 890,201,794
Selected Financial Data (US$)
Net sales (in millions) 14,747  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 
Sales per share2 43.83 46.68 88.77 89.04 87.50 84.09 80.74 77.17 80.07 78.35 76.57 74.82 73.65 72.75 72.02 71.03 69.09 67.29 67.08 67.07 0.00 0.00 0.00
Share price1, 3 56.53 59.40 57.01 156.20 142.96 135.63 140.78 120.72 123.23 134.53 122.46 125.03 119.07 118.87 118.99 110.09 100.07 107.65 104.37 84.66 100.62 99.31 116.16
Valuation Ratio
P/S ratio4 1.29 1.27 0.64 1.75 1.63 1.61 1.74 1.56 1.54 1.72 1.60 1.67 1.62 1.63 1.65 1.55 1.45 1.60 1.56 1.26
Benchmarks
P/S Ratio, Competitors5
Boeing Co. 1.38 1.41 1.11 2.34 2.20 2.21 2.10 2.26 2.05 2.10 2.09 2.17 1.69 1.52 1.18 1.06 0.95 0.88 0.90 0.80
Lockheed Martin Corp. 1.61 1.67 1.75 2.07 1.79 1.76 1.65 1.58 1.60 1.76 1.82 1.91 1.78 1.70 1.63 1.59 1.57 1.68 1.53 1.43
Northrop Grumman Corp. 1.43 1.57 1.61 1.91 1.81 1.76 1.51 1.55 1.74 1.90 2.21 2.28 2.08 1.82 1.74 1.63 1.69 1.65 1.59 1.45

Based on: 10-Q (filing date: 2020-10-27), 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 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
Sales per share = (Net salesQ3 2020 + Net salesQ2 2020 + Net salesQ1 2020 + Net salesQ4 2019) ÷ No. shares of common stock outstanding
= (14,747,000,000 + 14,061,000,000 + 18,210,000,000 + 19,551,000,000) ÷ 1,518,716,426 = 43.83

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

4 Q3 2020 Calculation
P/S ratio = Share price ÷ Sales per share
= 56.53 ÷ 43.83 = 1.29

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 Technologies Corp.’s P/S ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Price to Book Value (P/BV)

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

Microsoft Excel LibreOffice Calc
Sep 30, 2020 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
No. shares of common stock outstanding1 1,518,716,426 1,527,655,238 866,160,621 865,308,981 863,268,940 862,831,280 862,291,415 861,748,797 800,984,201 800,093,285 800,059,478 799,778,295 798,569,921 798,772,783 801,227,504 805,861,740 823,405,687 836,926,949 836,865,684 836,432,010 887,020,937 890,597,745 890,201,794
Selected Financial Data (US$)
Shareowners’ equity (in millions) 68,379  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 
Book value per share (BVPS)2 45.02 44.01 45.50 48.28 46.88 47.23 46.08 44.61 40.08 39.20 38.16 37.02 37.42 35.61 34.44 34.22 35.45 34.76 33.88 32.71 34.41 34.11 32.18
Share price1, 3 56.53 59.40 57.01 156.20 142.96 135.63 140.78 120.72 123.23 134.53 122.46 125.03 119.07 118.87 118.99 110.09 100.07 107.65 104.37 84.66 100.62 99.31 116.16
Valuation Ratio
P/BV ratio4 1.26 1.35 1.25 3.24 3.05 2.87 3.05 2.71 3.07 3.43 3.21 3.38 3.18 3.34 3.46 3.22 2.82 3.10 3.08 2.59 2.92 2.91 3.61
Benchmarks
P/BV Ratio, Competitors5
Boeing Co. 1,689.96 674.83 163.46 569.92 141.72 1,154.49 122.80 43.00 144.98 21.60 12.17 14.03 15.89 13.22
Lockheed Martin Corp. 20.84 27.96 30.96 39.60 26.86 35.45 37.84 61.11 92.42 220.82 42.08 65.95 52.77 49.61 31.34 25.94 22.39 21.37 23.65 21.12 17.67
Northrop Grumman Corp. 4.83 5.60 6.10 7.32 6.18 6.30 5.44 5.71 5.45 6.25 7.55 8.36 8.17 7.76 7.79 7.62 6.97 6.85 6.65 6.18 6.10 5.27 4.57

Based on: 10-Q (filing date: 2020-10-27), 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 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
BVPS = Shareowners’ equity ÷ No. shares of common stock outstanding
= 68,379,000,000 ÷ 1,518,716,426 = 45.02

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

4 Q3 2020 Calculation
P/BV ratio = Share price ÷ BVPS
= 56.53 ÷ 45.02 = 1.26

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’s required rate of return and its actual rate of return. Raytheon Technologies Corp.’s P/BV ratio increased from Q1 2020 to Q2 2020 but then slightly decreased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.