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Raytheon Co's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2019 was $1,110 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2019 was $4,166 Mil.
EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Raytheon Co's annualized ROC % for the quarter that ended in Dec. 2019 was 14.53%. Raytheon Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2019 was 108.48%.
EBIT is also linked to Joel Greenblatt's definition of earnings yield. Raytheon Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2019 was 12.79%.
The historical data trend for Raytheon Co's EBIT can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Raytheon Co Annual Data | |||||||||||||||||||||
Trend | Dec10 | Dec11 | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | |||||||||||
EBIT | Get a 7-Day Free Trial | 3,074.00 | 3,317.00 | 3,318.00 | 3,331.00 | 4,166.00 |
Raytheon Co Quarterly Data | ||||||||||||||||||||
Mar15 | Jun15 | Sep15 | Dec15 | Mar16 | Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | |
EBIT | Get a 7-Day Free Trial | 973.00 | 965.00 | 1,010.00 | 1,081.00 | 1,110.00 |
For the Aerospace & Defense subindustry, Raytheon Co's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Aerospace & Defense industry and Industrials sector, Raytheon Co's EV-to-EBIT distribution charts can be found below:
* The bar in red indicates where Raytheon Co's EV-to-EBIT falls into.
EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.
EBIT for the trailing twelve months (TTM) ended in Dec. 2019 adds up the quarterly data reported by the company within the most recent 12 months, which was $4,166 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Raytheon Co (NYSE:RTN) EBIT Explanation
1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
Raytheon Co's annualized ROC % for the quarter that ended in Dec. 2019 is calculated as:
ROC % (Q: Dec. 2019 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: Sep. 2019 ) | + | Invested Capital (Q: Dec. 2019 )) | / count ) |
= | 5116 * ( 1 - 17.39% ) | / | ( (28701 | + | 29479) | / 2 ) |
= | 4226.3276 | / | 29090 | |||
= | 14.53 % |
where
Invested Capital | (Q: Sep. 2019 ) | |||||||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | Excess Cash | |||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | ( Cash, Cash Equivalents, Marketable Securities | - | max(0, Total Current Liabilities | - | Total Current Assets | + | Cash, Cash Equivalents, Marketable Securities | )) |
= | 32817 | - | 1470 | - | ( 2646 | - | max(0, 7815 | - | 12029 | + | 2646 | )) |
= | 28701 |
Invested Capital | (Q: Dec. 2019 ) | |||||||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | Excess Cash | |||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | ( Cash, Cash Equivalents, Marketable Securities | - | max(0, Total Current Liabilities | - | Total Current Assets | + | Cash, Cash Equivalents, Marketable Securities | )) |
= | 34566 | - | 1796 | - | ( 4292 | - | max(0, 9791 | - | 13082 | + | 4292 | )) |
= | 29479 |
Note: The Operating Income data used here is four times the quarterly (Dec. 2019) data.
2. Joel Greenblatt's definition of Return on Capital:
Raytheon Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2019 is calculated as:
ROC (Joel Greenblatt) % | (Q: Dec. 2019 ) | ||||||
= | EBIT | / | Average of (Net fixed Assets | + | Net Working Capital) | ||
= | EBIT | / | Average of (Property, Plant and Equipment | + | Net Working Capital) | ||
Q: Sep. 2019 | Q: Dec. 2019 | ||||||
= | EBIT | / | ( ( (Property, Plant and Equipment + Net Working Capital) | + | (Property, Plant and Equipment + Net Working Capital) ) | / | count ) |
= | 4440 | / | ( ( (3958 + max(-4430, 0)) | + | (4228 + max(-5624, 0)) ) | / | 2 ) |
= | 4440 | / | ( ( 3958 | + | 4228 ) | / | 2 ) |
= | 4440 | / | 4093 | ||||
= | 108.48 % |
where Working Capital is:
Working Capital | (Q: Sep. 2019 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (1473 | + | 802 | + | 610) | - | (1470 | + | 2977 | + | 2868) |
= | -4430 |
Working Capital | (Q: Dec. 2019 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (1364 | + | 671 | + | 633) | - | (1796 | + | 3267 | + | 3229) |
= | -5624 |
When net working capital is negative, 0 is used.
Note: The EBIT data used here is four times the quarterly (Dec. 2019) EBIT data.
3. It is also linked to Joel Greenblatt's definition of Earnings Yield:
Raytheon Co's Earnings Yield (Joel Greenblatt) % for today is calculated as:
Earnings Yield (Joel Greenblatt) % | = | EBIT (TTM) | / | Enterprise Value (Q: Dec. 2019 ) |
= | 4166 | / | 32566.460 | |
= | 12.79 % |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Thank you for viewing the detailed overview of Raytheon Co's EBIT provided by GuruFocus.com. Please click on the following links to see related term pages.
William Spivey | director | |
Letitia A Long | director | C/O CORPORATE OFFICE PROPERTIES TRUST, 6711 COLUMBIA GATEWAY DRIVE, #300, COLUMBIA MD 21046 |
David C Wajsgras | officer: Vice President | 870 WINTER STREET, WALTHAM MA 02451 |
Marta R Stewart | director | C/O NORFOLK SOUTHERN CORP, THREE COMMERCIAL PL, NORFOLK VA 23510-9219 |
Frank R Jimenez | officer: VP, General Counsel, Secretary | GE HEALTHCARE TECHNOLOGIES INC., 500 W. MONROE ST., CHICAGO IL 606061 |
Michael J Wood | officer: VP, Controller & CAO | 870 WINTER STREET, WALTHAM MA 02451 |
Ellen M Pawlikowski | director | 870 WINTER STREET, WALTHAM MA 02451 |
Robert O Work | director | 870 WINTER STREET, WALTHAM MA 02451 |
Tracy A Atkinson | director | MFS INVESTMENT MANAGEMENT, 500 BOYLSTON ST., BOSTON MA 02116 |
Roy Azevedo | officer: Vice President | 870 WINTER STREET, WALTHAM MA 02451 |
Wesley D Kremer | officer: Vice President | 870 WINTER STREET, WALTHAM MA 02451 |
Thomas A Kennedy | director, officer: Chairman and CEO | 870 WINTER STREET, WALTHAM MA 02451 |
George Oliver | director | 5757 N. GREEN BAY AVENUE, MILWAUKEE WI 53209 |
Winnefeld James A Jr | director | 870 WINTER STREET, WALTHAM MA 02451 |
Robert E Beauchamp | director | 2101 CITYWEST BLVD, HOUSTON TX 77042-2827 |
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