Analysis of Reportable Segments
Raytheon Co. operates in 5 segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.
Segment Profit Margin
Raytheon Co., profit margin by reportable segment
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Integrated Defense Systems (IDS) | 16.04% | 16.55% | 16.11% | 17.35% | 14.38% |
| Intelligence, Information and Services (IIS) | 9.20% | 8.00% | 7.37% | 7.54% | 10.45% |
| Missile Systems (MS) | 10.99% | 11.73% | 12.97% | 12.95% | 13.22% |
| Space and Airborne Systems (SAS) | 13.34% | 13.10% | 13.41% | 13.18% | 13.70% |
| Forcepoint | 1.22% | 0.79% | 5.43% | 9.01% | 9.15% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Integrated Defense Systems (IDS) | Integrated Defense Systems (IDS) segment profit margin ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
| Intelligence, Information and Services (IIS) | Intelligence, Information and Services (IIS) segment profit margin ratio improved from 2017 to 2018 and from 2018 to 2019. | |
| Missile Systems (MS) | Missile Systems (MS) segment profit margin ratio deteriorated from 2017 to 2018 and from 2018 to 2019. | |
| Space and Airborne Systems (SAS) | Space and Airborne Systems (SAS) segment profit margin ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. | |
| Forcepoint | Forcepoint segment profit margin ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
Segment Profit Margin: Integrated Defense Systems (IDS)
Raytheon Co.; Integrated Defense Systems (IDS); segment profit margin calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 1,111) | 1,023) | 935) | 950) | 917) |
| Net sales | 6,927) | 6,180) | 5,804) | 5,476) | 6,375) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 16.04% | 16.55% | 16.11% | 17.35% | 14.38% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment profit margin = 100 × Operating income ÷ Net sales
= 100 × 1,111 ÷ 6,927 = 16.04%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Integrated Defense Systems (IDS) | Integrated Defense Systems (IDS) segment profit margin ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Segment Profit Margin: Intelligence, Information and Services (IIS)
Raytheon Co.; Intelligence, Information and Services (IIS); segment profit margin calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 658) | 538) | 455) | 467) | 599) |
| Net sales | 7,151) | 6,722) | 6,177) | 6,194) | 5,733) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 9.20% | 8.00% | 7.37% | 7.54% | 10.45% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment profit margin = 100 × Operating income ÷ Net sales
= 100 × 658 ÷ 7,151 = 9.20%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Intelligence, Information and Services (IIS) | Intelligence, Information and Services (IIS) segment profit margin ratio improved from 2017 to 2018 and from 2018 to 2019. |
Segment Profit Margin: Missile Systems (MS)
Raytheon Co.; Missile Systems (MS); segment profit margin calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 959) | 973) | 1,010) | 916) | 867) |
| Net sales | 8,726) | 8,298) | 7,787) | 7,071) | 6,556) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 10.99% | 11.73% | 12.97% | 12.95% | 13.22% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment profit margin = 100 × Operating income ÷ Net sales
= 100 × 959 ÷ 8,726 = 10.99%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Missile Systems (MS) | Missile Systems (MS) segment profit margin ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
Segment Profit Margin: Space and Airborne Systems (SAS)
Raytheon Co.; Space and Airborne Systems (SAS); segment profit margin calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 991) | 884) | 862) | 817) | 794) |
| Net sales | 7,427) | 6,748) | 6,430) | 6,199) | 5,796) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 13.34% | 13.10% | 13.41% | 13.18% | 13.70% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment profit margin = 100 × Operating income ÷ Net sales
= 100 × 991 ÷ 7,427 = 13.34%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Space and Airborne Systems (SAS) | Space and Airborne Systems (SAS) segment profit margin ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. |
Segment Profit Margin: Forcepoint
Raytheon Co.; Forcepoint; segment profit margin calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 8) | 5) | 33) | 51) | 30) |
| Net sales | 658) | 634) | 608) | 566) | 328) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 1.22% | 0.79% | 5.43% | 9.01% | 9.15% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment profit margin = 100 × Operating income ÷ Net sales
= 100 × 8 ÷ 658 = 1.22%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Forcepoint | Forcepoint segment profit margin ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
Segment Return on Assets (Segment ROA)
Raytheon Co., ROA by reportable segment
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Integrated Defense Systems (IDS) | 21.77% | 21.18% | 19.98% | 20.87% | 21.05% |
| Intelligence, Information and Services (IIS) | 15.33% | 12.68% | 10.76% | 10.90% | 14.42% |
| Missile Systems (MS) | 11.41% | 11.82% | 13.76% | 13.32% | 13.21% |
| Space and Airborne Systems (SAS) | 14.20% | 13.10% | 12.87% | 12.52% | 12.38% |
| Forcepoint | 0.33% | 0.20% | 1.30% | 2.03% | 1.21% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Integrated Defense Systems (IDS) | Integrated Defense Systems (IDS) segment ROA improved from 2017 to 2018 and from 2018 to 2019. |
| Intelligence, Information and Services (IIS) | Intelligence, Information and Services (IIS) segment ROA improved from 2017 to 2018 and from 2018 to 2019. | |
| Missile Systems (MS) | Missile Systems (MS) segment ROA deteriorated from 2017 to 2018 and from 2018 to 2019. | |
| Space and Airborne Systems (SAS) | Space and Airborne Systems (SAS) segment ROA improved from 2017 to 2018 and from 2018 to 2019. | |
| Forcepoint | Forcepoint segment ROA deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
Segment ROA: Integrated Defense Systems (IDS)
Raytheon Co.; Integrated Defense Systems (IDS); segment ROA calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 1,111) | 1,023) | 935) | 950) | 917) |
| Total assets | 5,103) | 4,829) | 4,679) | 4,551) | 4,357) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 21.77% | 21.18% | 19.98% | 20.87% | 21.05% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment ROA = 100 × Operating income ÷ Total assets
= 100 × 1,111 ÷ 5,103 = 21.77%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Integrated Defense Systems (IDS) | Integrated Defense Systems (IDS) segment ROA improved from 2017 to 2018 and from 2018 to 2019. |
Segment ROA: Intelligence, Information and Services (IIS)
Raytheon Co.; Intelligence, Information and Services (IIS); segment ROA calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 658) | 538) | 455) | 467) | 599) |
| Total assets | 4,291) | 4,242) | 4,230) | 4,283) | 4,155) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 15.33% | 12.68% | 10.76% | 10.90% | 14.42% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment ROA = 100 × Operating income ÷ Total assets
= 100 × 658 ÷ 4,291 = 15.33%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Intelligence, Information and Services (IIS) | Intelligence, Information and Services (IIS) segment ROA improved from 2017 to 2018 and from 2018 to 2019. |
Segment ROA: Missile Systems (MS)
Raytheon Co.; Missile Systems (MS); segment ROA calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 959) | 973) | 1,010) | 916) | 867) |
| Total assets | 8,408) | 8,229) | 7,338) | 6,878) | 6,561) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 11.41% | 11.82% | 13.76% | 13.32% | 13.21% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment ROA = 100 × Operating income ÷ Total assets
= 100 × 959 ÷ 8,408 = 11.41%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Missile Systems (MS) | Missile Systems (MS) segment ROA deteriorated from 2017 to 2018 and from 2018 to 2019. |
Segment ROA: Space and Airborne Systems (SAS)
Raytheon Co.; Space and Airborne Systems (SAS); segment ROA calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 991) | 884) | 862) | 817) | 794) |
| Total assets | 6,979) | 6,750) | 6,696) | 6,523) | 6,416) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 14.20% | 13.10% | 12.87% | 12.52% | 12.38% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment ROA = 100 × Operating income ÷ Total assets
= 100 × 991 ÷ 6,979 = 14.20%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Space and Airborne Systems (SAS) | Space and Airborne Systems (SAS) segment ROA improved from 2017 to 2018 and from 2018 to 2019. |
Segment ROA: Forcepoint
Raytheon Co.; Forcepoint; segment ROA calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income | 8) | 5) | 33) | 51) | 30) |
| Total assets | 2,424) | 2,531) | 2,543) | 2,514) | 2,486) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 0.33% | 0.20% | 1.30% | 2.03% | 1.21% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment ROA = 100 × Operating income ÷ Total assets
= 100 × 8 ÷ 2,424 = 0.33%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Forcepoint | Forcepoint segment ROA deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
Segment Asset Turnover
Raytheon Co., asset turnover by reportable segment
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Integrated Defense Systems (IDS) | 1.36 | 1.28 | 1.24 | 1.20 | 1.46 |
| Intelligence, Information and Services (IIS) | 1.67 | 1.58 | 1.46 | 1.45 | 1.38 |
| Missile Systems (MS) | 1.04 | 1.01 | 1.06 | 1.03 | 1.00 |
| Space and Airborne Systems (SAS) | 1.06 | 1.00 | 0.96 | 0.95 | 0.90 |
| Forcepoint | 0.27 | 0.25 | 0.24 | 0.23 | 0.13 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Integrated Defense Systems (IDS) | Integrated Defense Systems (IDS) segment asset turnover ratio improved from 2017 to 2018 and from 2018 to 2019. |
| Intelligence, Information and Services (IIS) | Intelligence, Information and Services (IIS) segment asset turnover ratio improved from 2017 to 2018 and from 2018 to 2019. | |
| Missile Systems (MS) | Missile Systems (MS) segment asset turnover ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. | |
| Space and Airborne Systems (SAS) | Space and Airborne Systems (SAS) segment asset turnover ratio improved from 2017 to 2018 and from 2018 to 2019. | |
| Forcepoint | Forcepoint segment asset turnover ratio improved from 2017 to 2018 and from 2018 to 2019. |
Segment Asset Turnover: Integrated Defense Systems (IDS)
Raytheon Co.; Integrated Defense Systems (IDS); segment asset turnover calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 6,927) | 6,180) | 5,804) | 5,476) | 6,375) |
| Total assets | 5,103) | 4,829) | 4,679) | 4,551) | 4,357) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.36 | 1.28 | 1.24 | 1.20 | 1.46 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 6,927 ÷ 5,103 = 1.36
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Integrated Defense Systems (IDS) | Integrated Defense Systems (IDS) segment asset turnover ratio improved from 2017 to 2018 and from 2018 to 2019. |
Segment Asset Turnover: Intelligence, Information and Services (IIS)
Raytheon Co.; Intelligence, Information and Services (IIS); segment asset turnover calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 7,151) | 6,722) | 6,177) | 6,194) | 5,733) |
| Total assets | 4,291) | 4,242) | 4,230) | 4,283) | 4,155) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.67 | 1.58 | 1.46 | 1.45 | 1.38 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 7,151 ÷ 4,291 = 1.67
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Intelligence, Information and Services (IIS) | Intelligence, Information and Services (IIS) segment asset turnover ratio improved from 2017 to 2018 and from 2018 to 2019. |
Segment Asset Turnover: Missile Systems (MS)
Raytheon Co.; Missile Systems (MS); segment asset turnover calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 8,726) | 8,298) | 7,787) | 7,071) | 6,556) |
| Total assets | 8,408) | 8,229) | 7,338) | 6,878) | 6,561) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.04 | 1.01 | 1.06 | 1.03 | 1.00 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 8,726 ÷ 8,408 = 1.04
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Missile Systems (MS) | Missile Systems (MS) segment asset turnover ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. |
Segment Asset Turnover: Space and Airborne Systems (SAS)
Raytheon Co.; Space and Airborne Systems (SAS); segment asset turnover calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 7,427) | 6,748) | 6,430) | 6,199) | 5,796) |
| Total assets | 6,979) | 6,750) | 6,696) | 6,523) | 6,416) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.06 | 1.00 | 0.96 | 0.95 | 0.90 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 7,427 ÷ 6,979 = 1.06
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Space and Airborne Systems (SAS) | Space and Airborne Systems (SAS) segment asset turnover ratio improved from 2017 to 2018 and from 2018 to 2019. |
Segment Asset Turnover: Forcepoint
Raytheon Co.; Forcepoint; segment asset turnover calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 658) | 634) | 608) | 566) | 328) |
| Total assets | 2,424) | 2,531) | 2,543) | 2,514) | 2,486) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.27 | 0.25 | 0.24 | 0.23 | 0.13 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 658 ÷ 2,424 = 0.27
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Forcepoint | Forcepoint segment asset turnover ratio improved from 2017 to 2018 and from 2018 to 2019. |
Segment Capital Expenditures to Depreciation
Raytheon Co., capital expenditures to depreciation by reportable segment
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Integrated Defense Systems (IDS) | 2.62 | 2.47 | 2.04 | 1.53 | 1.40 |
| Intelligence, Information and Services (IIS) | 1.02 | 0.90 | 0.44 | 0.91 | 1.49 |
| Missile Systems (MS) | 1.80 | 3.44 | 2.63 | 1.96 | 0.83 |
| Space and Airborne Systems (SAS) | 2.30 | 0.97 | 1.20 | 1.22 | 0.79 |
| Forcepoint | 1.21 | 0.76 | 0.82 | 1.27 | 1.25 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Integrated Defense Systems (IDS) | Integrated Defense Systems (IDS) segment capital expenditures to depreciation ratio improved from 2017 to 2018 and from 2018 to 2019. |
| Intelligence, Information and Services (IIS) | Intelligence, Information and Services (IIS) segment capital expenditures to depreciation ratio improved from 2017 to 2018 and from 2018 to 2019. | |
| Missile Systems (MS) | Missile Systems (MS) segment capital expenditures to depreciation ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. | |
| Space and Airborne Systems (SAS) | Space and Airborne Systems (SAS) segment capital expenditures to depreciation ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level. | |
| Forcepoint | Forcepoint segment capital expenditures to depreciation ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level. |
Segment Capital Expenditures to Depreciation: Integrated Defense Systems (IDS)
Raytheon Co.; Integrated Defense Systems (IDS); segment capital expenditures to depreciation calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 309) | 242) | 200) | 135) | 126) |
| Depreciation and amortization | 118) | 98) | 98) | 88) | 90) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 2.62 | 2.47 | 2.04 | 1.53 | 1.40 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 309 ÷ 118 = 2.62
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Integrated Defense Systems (IDS) | Integrated Defense Systems (IDS) segment capital expenditures to depreciation ratio improved from 2017 to 2018 and from 2018 to 2019. |
Segment Capital Expenditures to Depreciation: Intelligence, Information and Services (IIS)
Raytheon Co.; Intelligence, Information and Services (IIS); segment capital expenditures to depreciation calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 50) | 46) | 22) | 59) | 85) |
| Depreciation and amortization | 49) | 51) | 50) | 65) | 57) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.02 | 0.90 | 0.44 | 0.91 | 1.49 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 50 ÷ 49 = 1.02
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Intelligence, Information and Services (IIS) | Intelligence, Information and Services (IIS) segment capital expenditures to depreciation ratio improved from 2017 to 2018 and from 2018 to 2019. |
Segment Capital Expenditures to Depreciation: Missile Systems (MS)
Raytheon Co.; Missile Systems (MS); segment capital expenditures to depreciation calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 232) | 337) | 221) | 135) | 62) |
| Depreciation and amortization | 129) | 98) | 84) | 69) | 75) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.80 | 3.44 | 2.63 | 1.96 | 0.83 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 232 ÷ 129 = 1.80
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Missile Systems (MS) | Missile Systems (MS) segment capital expenditures to depreciation ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019. |
Segment Capital Expenditures to Depreciation: Space and Airborne Systems (SAS)
Raytheon Co.; Space and Airborne Systems (SAS); segment capital expenditures to depreciation calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 304) | 136) | 158) | 149) | 131) |
| Depreciation and amortization | 132) | 140) | 132) | 122) | 166) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 2.30 | 0.97 | 1.20 | 1.22 | 0.79 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 304 ÷ 132 = 2.30
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Space and Airborne Systems (SAS) | Space and Airborne Systems (SAS) segment capital expenditures to depreciation ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level. |
Segment Capital Expenditures to Depreciation: Forcepoint
Raytheon Co.; Forcepoint; segment capital expenditures to depreciation calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 17) | 13) | 14) | 19) | 10) |
| Depreciation and amortization | 14) | 17) | 17) | 15) | 8) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.21 | 0.76 | 0.82 | 1.27 | 1.25 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization
= 17 ÷ 14 = 1.21
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Forcepoint | Forcepoint segment capital expenditures to depreciation ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level. |
Net sales
Raytheon Co., net sales by reportable segment
US$ in millions
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Integrated Defense Systems (IDS) | 6,927) | 6,180) | 5,804) | 5,476) | 6,375) |
| Intelligence, Information and Services (IIS) | 7,151) | 6,722) | 6,177) | 6,194) | 5,733) |
| Missile Systems (MS) | 8,726) | 8,298) | 7,787) | 7,071) | 6,556) |
| Space and Airborne Systems (SAS) | 7,427) | 6,748) | 6,430) | 6,199) | 5,796) |
| Forcepoint | 658) | 634) | 608) | 566) | 328) |
| Eliminations | (1,712) | (1,514) | (1,423) | (1,360) | (1,480) |
| Total | 29,177) | 27,068) | 25,383) | 24,146) | 23,308) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
Operating income
Raytheon Co., operating income by reportable segment
US$ in millions
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Integrated Defense Systems (IDS) | 1,111) | 1,023) | 935) | 950) | 917) |
| Intelligence, Information and Services (IIS) | 658) | 538) | 455) | 467) | 599) |
| Missile Systems (MS) | 959) | 973) | 1,010) | 916) | 867) |
| Space and Airborne Systems (SAS) | 991) | 884) | 862) | 817) | 794) |
| Forcepoint | 8) | 5) | 33) | 51) | 30) |
| Eliminations | (184) | (170) | (148) | (141) | (159) |
| Total | 3,543) | 3,253) | 3,147) | 3,060) | 3,048) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
Capital expenditures
Raytheon Co., capital expenditures by reportable segment
US$ in millions
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Integrated Defense Systems (IDS) | 309) | 242) | 200) | 135) | 126) |
| Intelligence, Information and Services (IIS) | 50) | 46) | 22) | 59) | 85) |
| Missile Systems (MS) | 232) | 337) | 221) | 135) | 62) |
| Space and Airborne Systems (SAS) | 304) | 136) | 158) | 149) | 131) |
| Forcepoint | 17) | 13) | 14) | 19) | 10) |
| Corporate | 28) | 24) | 19) | 29) | 11) |
| Total | 940) | 798) | 634) | 526) | 425) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
Depreciation and amortization
Raytheon Co., depreciation and amortization by reportable segment
US$ in millions
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Integrated Defense Systems (IDS) | 118) | 98) | 98) | 88) | 90) |
| Intelligence, Information and Services (IIS) | 49) | 51) | 50) | 65) | 57) |
| Missile Systems (MS) | 129) | 98) | 84) | 69) | 75) |
| Space and Airborne Systems (SAS) | 132) | 140) | 132) | 122) | 166) |
| Forcepoint | 14) | 17) | 17) | 15) | 8) |
| Acquisition Accounting Adjustments | 111) | 116) | 125) | 121) | 58) |
| Corporate | 52) | 48) | 44) | 35) | 35) |
| Total | 605) | 568) | 550) | 515) | 489) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
Total assets
Raytheon Co., total assets by reportable segment
US$ in millions
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Integrated Defense Systems (IDS) | 5,103) | 4,829) | 4,679) | 4,551) | 4,357) |
| Intelligence, Information and Services (IIS) | 4,291) | 4,242) | 4,230) | 4,283) | 4,155) |
| Missile Systems (MS) | 8,408) | 8,229) | 7,338) | 6,878) | 6,561) |
| Space and Airborne Systems (SAS) | 6,979) | 6,750) | 6,696) | 6,523) | 6,416) |
| Forcepoint | 2,424) | 2,531) | 2,543) | 2,514) | 2,486) |
| Corporate | 7,361) | 5,283) | 5,374) | 5,303) | 5,306) |
| Total | 34,566) | 31,864) | 30,860) | 30,052) | 29,281) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).