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RAYTHEON CO/

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2019 10-K, filed Feb 12, 2020. Its latest SEC filing is a 15-12B from Apr 13, 2020.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Develops and supplies defense systems, weapons and technical services to U.S. and international government customers.

How Did They Make Money?

Most revenue comes from long-term contracts for complex defense equipment and related services. U.S. government customers make interim payments as work progresses; non-U.S. customers typically do too.

FY2019 revenue

Who Were Their Customers?

U.S. defense and other government agencies, international governments, and commercial customers buy Raytheon’s systems and services. International sales are conducted through Raytheon and its subsidiaries; Forcepoint sells some products and services through distributors and resellers.

Did Revenues Turn Into Profits?

Yes. It kept 11 cents of every revenue dollar as net income in FY2019 and turned 12 cents into free cash flow.

Operating income, FY2019
16% of revenue
▲ +5% vs FY2018 ($4.5B, 17%)
Net income, FY2019
11% of revenue
▲ +15% vs FY2018 ($2.9B, 11%)
Free cash flow, FY2019
12% of revenue
▲ +33% vs FY2018 ($2.7B, 10%)

How Were They Changing?

Since the FY2019 annual report
  • Apr 3, 2020 Raytheon completed its merger with United Technologies The transaction closed after United Technologies spun off Carrier and Otis.

Grew. Revenue grew 25% in 4 years, from $23.3B in FY2015 to $29.2B in FY2019, about 6% a year.

Core-market focus The latest report centers its core-market list on integrated air and missile defense, electronic warfare and space systems; the older report listed sensing and mission support among its core markets.

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