Corporate Webpages Rockwell Collins Inc.
The name "Rockwell" in Rockwell Collins, Inc. (COL) forms a
tangled web. Rockwell Collins is a major aerospace and defense
contractor but there is, or was, another very large aerospace
and defense contractor, North American Rockwell, so is there any
connection? It turns out, there is. Rockwell Collins got its
start as the Collins Radio Corporation back in 1933. It is
based in Cedar Rapids, IA, not in Southern California which once
was the aerospace capital of the world. North American Aviation
was a major U.S. aerospace manufacturer responsible for a number
of historic aircraft during and after World War II. North
American was a subsidiary of General Motors. It created
everything from the P-51 Mustang to the XB-70 Valkyrie bomber.
North American's assets included Rocketdyne and Atomics International.
In 1967 this company merged with Rockwell-Standard to become
North American Rockwell, as part of a huge series of aerospace
mergers that ultimately led to Boeing owning practically everything.
After facing financial difficulties, Collins Radio Co. was
purchased by Rockwell International in 1973, after "North
American Rockwell" changed its name to "Rockwell International"
in the same year. The avionics division of Rockwell
International was spun off to become the current Rockwell
Collins, Inc. The company no longer markets receivers to the
public, but still makes a mechanical filter for commercial use.
Rockwell Collins acquired several companies, including
Hughes-Avicom's and Sony's in-flight entertainment businesses,
Flight Dynamics, Kaiser Systems, Communication Solutions Inc.,
Airshow Inc., NLX, portions of Evans & Sutherland, TELDIX GmbH,
IP Unwired, Anzus Inc., Datapath Inc., SEOS Displays Ltd. and
Air Routing International. Today the compoany employs over
19,000 people.
News on Rockwell Collins consists mainly of awards of dozens of
U.S. and foreign government contracts, introduction of new
products mainly related to air flight applications, and
occasional mergers and acquisitions so prominent among aerospace
companies. Researchers seem to really like this stock. It has
survived hard economic times and government cutbacks in defense
and other areas by juggling a balance of government and
commercial contracts and applications.
09-09-2011: Rockwell Collins Inc. (COL): Juggling Military & Civilian Work
(WAIT FOR PAGE TO LOAD COMPLETELY BEFORE LINKS WORK.)
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Company Profile |
Company History |
News |
Comparison |
Similar Companies Performance:
Bond Issue |
Zenith Index |
Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is consider strong and > 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.
Rockwell Collins Inc. (COL ) Sector: Industrial Goods
400 Collins Road NE Industry: Aerospace/Defense Products &
Cedar Rapids, IA 52498 Exchange: NYSE
United States
Rockwell Collins, Inc. engages in the design, production, and support of
communications and aviation electronics for commercial and military
customers worldwide. It operates in two segments, Government Systems and
Commercial Systems. The Government Systems segment provides communication
and electronic systems, products, and services, which include
communications systems and products, military data link systems and
products, navigation systems and products, subsystems for the flight deck,
cockpit display systems, integrated computer systems, and simulation and
training systems, as well as offers maintenance, repair, parts, and
after-sales support services. It offers its products and services for
airborne and surface applications to the U.S. Department of Defense, local
and state governments, other government agencies, civil agencies, defense
contractors and foreign ministries of defense. The Commercial Systems
segment supplies aviation electronics systems, products, and services to
original equipment manufacturers of commercial air transport, business and
regional aircraft, commercial airlines, and fractional interest and other
business aircraft operators. Its products include integrated avionics
systems, integrated cabin electronics systems, communications systems and
products, navigation systems and products, situational awareness and
surveillance systems and products, electro-mechanical systems, and
simulation and training systems. This segment also provides on-board
information management systems and connectivity solutions, airborne and
ground applications and services, and ground infrastructure and services;
and maintenance, repair, parts, and after-sales support services. The
company was founded in 1933 and is headquartered in Cedar Rapids, Iowa.
Last Trade: 47.00 52-Week Range: 67.29 - 43.82
Trade Date: 09-05 Avg. Volume: 1,634,730 Shares
Index Membership: Employees: 20,000
Corporate Governance:
Board (Low Risk), Audit (Low Risk), Compensation (Low
Risk), Shareholder Rights (High Risk).
EPS: 3.87 Dividend Amount: $ 0.96 Yield: 2.00%
Ex-Dividend Date: Aug 11, 20 Mkt Cap: $ 7,220,000K
Payout Ratio: 25.00%
Last Split Factor (new for old): N/A Split Date: N/A
Key Statistics:
Enterprise Value: $ 7,540,000K Revenue (ttm) : $ 4,820,000K
Gross Profit: $ 1,290,000K
Earnings before Income Tax, Depreciation and Amortization: $ 1,000,000K
Enterprise Value/Revenue (ttm): 1.57 Revenue per Share: $ 31.03
Enterprise Value/EBITDA (ttm): 7.51 Qtrly Rev Growth (y to y): -1.50%
P/E Ratio (fwd projected): 10.42 P/E Ratio (current): 12.14
P/E Growth Ratio (5 yr expected): 1.19 Operating Margin: 17.84%
Price/Sales Ratio: 1.56 Profit Margin: 12.65%
Price/Book Value: 4.51 Book Value: $ 10.84/sh.
Return on Assets: 10.90% Net Income Avl to Common: $ 609,000K
Return on Equity: 37.45% Diluted Earnings/Share: $ 3.87
Qrtly Earnings Growth (yoy): 11.30%
Balance Sheet Items : Cash Flow Items (ttm):
(most recent qrtr) (trailing 12 mo.)
Total Cash: $ 268,000K Operating Cash Flow:$ 517,000K
Total Debt: $ 584,000K Lvgd Free Cash Flow:$ 198,000K
Total Debt/Equity: 34.95
Total Cash/Share: $ 1.74
Current Ratio: 1.91
Share Statistics: Stock Price History:
Shares Outstanding: 153,670K Stk 52-Week Change: -17.95%
Float: 143,000K S&P 500 52-Wk Chng: 6.29%
Sh. Short % of Float: 0.00% 50-Day Moving Avg: 50.85
Short Ratio: 1.80 200-Day Moving Avg: 59.38
% Held by Institutions: 69.30% Beta: 1.22
% Held by Insiders: 0.23%
Analysts' Estimates: Cur. Qtr Next Qtr Cur. Year Next Year
___________________________ Sep 11 Dec 11 Sep 11 Sep 12
Average Earnings Estimate 1.13 1.00 4.05 4.51
Average Revenue Estimate 310M 1,170M 4,840M 5,140M
Factors Comparing This Company to Its Industry Leader (1.0 = Average):
Long Term EPS Growth Rate (5 yr): 2.208 EPS Growth (Qrtly YoY): 0.000
PEG Ratio (ttm, 5 yr expected): 4.818 P/E Ratio (ttm): 2.208
Revenue Growth (Qrtly YoY): 1.656
Annual Income Statements: All numbers in thousands)
Period Ending Sep30,2010 Sep30,2009 Sep30,2008
Total Revenue 4,665,000 4,470,000 4,769,000
Cost of Revenue 3,379,000 3,150,000 3,334,000
Gross Profit 1,286,000 1,320,000 1,435,000
Operating Expenses:
Research & Development 0 0 0
Selling, General & Administrative 478,000 458,000 485,000
Non-Recurring Expenses 0 0 0
Other Operating Expenses 0 0 0
Total Operating Expenses 0 0 0
Operating Income or Loss 808,000 862,000 950,000
Income from Continuing Operations:
Total Other Income/Expenses Net 14,000 23,000 24,000
Earnings Before Interest & Taxes 822,000 885,000 974,000
Interest Expense 20,000 18,000 21,000
Income Before Taxes 802,000 867,000 953,000
Income Tax Expense 241,000 273,000 275,000
Minority Interest 0 0 0
Net Income from Continuing Op.s 561,000 594,000 678,000
Non-recurring Events:
Discontinued Operations 0 0 0
Extraordinary Items 0 0 0
Effect of Accounting Changes 0 0 0
Other Items 0 0 0
Net Income 561,000 594,000 678,000
Preferred Stock & Other Adjustmnts 0 0 0
Net Income Avail To Common Shares 561,000 594,000 678,000
Quarterly Income Statements: All numbers in thousands)
Period Ending Jun30,2011 Mar31,2011 Dec31,2010 Sep30,2010
Total Revenue 1,177,000 1,223,000 1,110,000 1,305,000
Cost of Revenue 823,000 870,000 795,000 945,000
Gross Profit 354,000 353,000 315,000 360,000
Operating Expenses:
Research & Development 0 0 0 0
Selling, General & Adminis. 131,000 136,000 124,000 132,000
Non-Recurring Expenses 0 0 0 0
Other Operating Expenses 0 0 0 0
Total Operating Expenses 0 0 0 0
Operating Income or Loss 223,000 217,000 191,000 228,000
Income from Continuing Operations:
Total Other Income/Expenses Net 6,000 6,000 7,000 1,000
Earnings Before Int. & Taxes 229,000 223,000 198,000 229,000
Interest Expense 5,000 4,000 5,000 5,000
Income Before Taxes 224,000 219,000 193,000 224,000
Income Tax Expense 68,000 69,000 42,000 72,000
Minority Interest 0 0 0 0
Net Income from Continuing Op.s 156,000 150,000 151,000 152,000
Non-recurring Events:
Discontinued Operations 2,000 0 0 -2,000
Extraordinary Items 0 0 0 0
Effect of Accounting Changes 0 0 0 0
Other Items 0 0 0 0
Net Income 158,000 150,000 151,000 150,000
Preferred Stock & Other Adj.s 0 0 0 0
Net Income Avail To Common Shs 158,000 150,000 151,000 150,000
Annual Balance Sheets: All Numbers in Thousands
Period Ending Sep30,2010 Sep30,2009 Sep30,2008
Current Assets:
Cash & Cash Equivalents 435,000 235,000 175,000
Short Term Investments 0 0 0
Net Receivables 1,153,000 1,067,000 1,089,000
Inventory 1,004,000 943,000 970,000
Other Current Assets 97,000 117,000 104,000
Total Current Assets 2,689,000 2,362,000 2,338,000
Long-Term Investments 0 0 80,000
Property, Plant & Equipt 707,000 719,000 680,000
Goodwill 766,000 695,000 609,000
Intangible Assets 306,000 269,000 239,000
Accumulated Amortization 0 0 0
Other Assets 207,000 229,000 54,000
Deferred Long Term Asset Charges 389,000 371,000 144,000
Total Assets 5,064,000 4,645,000 4,144,000
Current Liabilities:
Accounts Payable 1,186,000 1,131,000 729,000
Short/Current Long Term Debt 24,000 0 287,000
Other Current Liabilities 242,000 228,000 724,000
Total Current Liabilities 1,452,000 1,359,000 1,740,000
Long Term Debt 525,000 532,000 228,000
Other Liabilities 1,601,000 1,459,000 768,000
Deferred LT Liability Charges 0 0 0
Minority Interest 4,000 3,000 0
Negative Goodwill 0 0 0
Total Liabilities 3,582,000 3,353,000 2,736,000
Stockholder Equity:
Misc. Stocks Options Warrants 0 0 0
Redeemable Perferred Stock 0 0 0
Preferred Stock 0 0 0
Common Stock 2,000 2,000 2,000
Retained Earnings 2,816,000 2,444,000 2,058,000
Treasury Stock -1,497,000 -1,469,000 -1,452,000
Capital Surplus 1,420,000 1,395,000 1,378,000
Other Stockholder Equity -1,259,000 -1,080,000 -578,000
Total Stockholder Equity 1,482,000 1,292,000 1,408,000
Net Tangible Assets 410,000 328,000 560,000
Quarterly Balance Sheets: All Numbers in Thousands
Period Ending Jun30,2011 Mar31,2011 Dec31,2010 Sep30,2010
Current Assets:
Cash & Cash Equivalents 268,000 236,000 263,000 435,000
Short Term Investments 0 0 0 0
Net Receivables 1,145,000 1,147,000 1,086,000 1,153,000
Inventory 1,212,000 1,172,000 1,093,000 1,004,000
Other Current Assets 129,000 97,000 104,000 97,000
Total Current Assets 2,754,000 2,652,000 2,546,000 2,689,000
Long-Term Investments 0 0 0 0
Property, Plant & Equipt 729,000 718,000 703,000 707,000
Goodwill 787,000 786,000 767,000 766,000
Intangible Assets 314,000 316,000 318,000 306,000
Accumulated Amortization 0 0 0 0
Other Assets 195,000 198,000 196,000 207,000
Deferred LT Asset Charges 334,000 350,000 374,000 389,000
Total Assets 5,113,000 5,020,000 4,904,000 5,064,000
Current Liabilities:
Accounts Payable 1,118,000 1,164,000 1,060,000 1,186,000
Current Portion LT Debt 70,000 28,000 12,000 24,000
Other Current Liabilities 252,000 248,000 244,000 242,000
Total Current Liabilities 1,440,000 1,440,000 1,316,000 1,452,000
Long Term Debt 514,000 509,000 512,000 525,000
Other Liabilities 1,488,000 1,494,000 1,597,000 1,601,000
Deferred LT Liab. Charges 0 0 0 0
Minority Interest 4,000 4,000 3,000 4,000
Negative Goodwill 0 0 0 0
Total Liabilities 3,446,000 3,447,000 3,428,000 3,582,000
Stockholder Equity:
Misc. Options, WarrantS 0 0 0 0
Redeemable Perferred Stock 0 0 0 0
Preferred Stock 0 0 0 0
Common Stock 2,000 2,000 2,000 2,000
Retained Earnings 3,153,000 3,041,000 2,930,000 2,816,000
Treasury Stock -1,679,000 -1,651,000 -1,615,000 -1,497,000
Capital Surplus 1,430,000 1,421,000 1,415,000 1,420,000
Other Stockholder Equity -1,239,000 -1,240,000 -1,256,000 -1,259,000
Total Stockholder Equity 1,667,000 1,573,000 1,476,000 1,482,000
Net Tangible Assets 566,000 471,000 391,000 410,000
Annual Cash Flow: All Numbers in Thousands
Period Ending Sep30,2010 Sep30,2009 Sep30,2008
Net Income 561,000 150,000 678,000
Operating Activites:
Depreciation 149,000 144,000 129,000
Adjustments to Net Income 64,000 51,000 143,000
Changes in Accounts Recv'bls -32,000 39,000 -68,000
Changes in Liabilities 78,000 -180,000 -47,000
Changes in Inventories -96,000 12,000 -176,000
Changes in Other Op'ing Actv's 0 -27,000 -39,000
Total Cash Flow fr Operations 711,000 633,000 620,000
Investing Activities:
Capital Expenditures -109,000 -153,000 -171,000
Investments -21,000 0 0
Other Cash Flows fr Investing 0 -149,000 -113,000
Total Cash Flows fr Investing -232,000 -302,000 -284,000
Financing Acitivies:
Dividends Paid -151,000 -152,000 -129,000
Sale or Purchase of Stock -145,000 -134,000 -559,000
Net Borrowings 0 9,000 287,000
Other Cash Flows fr Financing 0 0 8,000
Total Cash Flows fr Financing -279,000 -275,000 -393,000
Effect of Exchange Rate Change 0 4,000 1,000
Change in Cash & Cash Equiv.s 200,000 60,000 -56,000
Quarterly Cash Flow: All Numbers in Thousands
Period Ending Jun30,2011 Mar31,2011 Dec31,2010 Sep30,2010
Net Income 158,000 150,000 151,000 150,000
Operating Activites:
Depreciation 35,000 37,000 34,000 39,000
Adjustments to Net Income 47,000 -59,000 34,000 57,000
Changes in Accounts Recv'bls -11,000 -64,000 63,000 0
Changes in Liabilities -48,000 109,000 -91,000 85,000
Changes in Inventories -57,000 -87,000 -101,000 -31,000
Changes in Other Oper'g Acts 0 -16,000 -33,000 22,000
Total Cash Flow f Operations 119,000 70,000 57,000 271,000
Investing Activities:
Capital Expenditures -38,000 -34,000 -32,000 -26,000
Investments 0 18,000 0 -21,000
Other Cash Flows fr Investing 0 -11,000 -5,000 -2,000
Total Cash Flows fr Investing -39,000 -27,000 -37,000 -49,000
Financing Acitivies:
Dividends Paid -37,000 -37,000 -38,000 -38,000
Sale or Purchase of Stock -59,000 -54,000 -145,000 -59,000
Net Borrowings 41,000 15,000 -10,000 0
Other Cash Flows fr Financing 0 0 0 0
Total Cash Flows fr Financing -51,000 -73,000 -193,000 -93,000
Effect of Exchange Rate Chg 0 0 0 3,000
Change in Cash & Cash Equiv. 32,000 -27,000 -172,000 132,000
COL Rockwell Collins Inc. [Indices near +3.0 or near zero,
or < zero bear special attention.]
P/E Ratio Tests:
Current P/E Ratio < 28? 2.3064 P/E Ratio > 5? 1.0000
P/E Ratio Vs Growth Rate: 1.5700 Forward P/E Ratio < 28? 2.6871
Sales Tests:
Price/Sales Ratio < 2.3? 1.4744 Inventory/Sales < 5%? 0.2323
Sales < $1 billion? 0.2144 Operating Margin < 7.5%? 0.4204
Balance Sheet Tests:
Debt/Equity < 0.40? 0.0114 Long-Term Debt Service: 2.8229
LTD Being Reduced? 1.8000 Short-Term Debt Service: 3.0000
Current Ratio > 2? 0.9550 Working Capital >= 1.5? 1.0458
Leverage Ratio < 20%? 1.6421 Debt / Assets < 1? 3.0000
Quick Ratio > 1? 0.9812 Inventory Turnover > 1? 3.0000
Shares Out Decreasing? 1.8000 Market Cap.> 1.5 Billion? 0.2078
Profit Margin > 7.5%? 1.6866
Income Tests:
Dividend Yield > 2.0%? 3.0000 EPS Annual Growth > 10%? 1.5100
Enterprise Value/Revenue: 1.0467 EPS 5-yr Growth > 20%? 0.6140
Enterprise Value/EBITDA: 1.0729 EPS Growth Consistent? 1.2000
EPS Qrtly Growth > 10%? 1.1300 Collection < 45 days? 0.4988
Rev. Qtrly Growth > 15%? -0.2250 Gross Pft/Cur. LTD < 1? 3.0000
EPS Annual Growth > 10%? 1.5100 Borrowing Int. Rate< 6%? 2.4936
Stock Performance Tests:
Volatility > 25%? 1.6899 % Held by Insiders < 5%? 3.0000
Beta > 1.25? 0.9760 % Held by Institut. < 50? 0.7215
50 Da MA > 200 Da MA? -0.5445 % Held by Institut. > 30? 2.3100
52-Wk Change vs. S&P 500: 0.4194 Short Ratio > 5? 0.3600
Price/Book Value < 3? -0.5100 Short % of Float > 20? 0.0000
Return on Assets > 17%? 0.6412 Average Volume > 100,000? 3.0000
Cash Flow Tests:
Oper. C.F. > Lever'd C.F: 2.6111 Positive Free Cash Flow? 1.0000
Positive Oper. Cash Flow? 1.0000 Price to C.F./sh. Ratio: 2.6046
Cash Flow / Assets >.10? 0.3872
COL Rockwell Collins Inc. Overall Zenith Index: 1.3675
Financial Statements |
Financial Ratios |
. . . . . . . . . . . . 1 = Highest , 10 = Lowest
Market Grader |
Intrinsic Value (DCF) |
Intrinsic Value by Discounted Cash Flow Method:
Intrinsic Value (PEG) |
Intrinsic Value by Projected Earnings Growth Method:
Stock Scout |
We find "Scout" to be a bit biased toward the high end, so anything under a 6 is considered a negative, 6 and above, positive.
Projected Earnings |
Research Reports |
Analysts' Opinions |
Insider Activity |
Institutional Activity |
Institutional Orders to Buy or Sell:
Sentiment |
Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.
Short Interest Ratio |
As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.
Stock Report |
Management's Discussion of Results of Operations Excerpts |
Moving Average Chart |
Right Time Study |
Channeling Potential |
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility. Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.
Results for Rockwell Collins Inc.:
Symbol? COL
Total Months Available: 122
Months in Cycle? 4
Months Covered by Periods: 12
Period 1 Period 2 Period 3
H1 L1 H2 L2 H3 L3
62.25 54.10 67.29 57.87 64.90 43.82
RANGE = 67.29 TO 43.82 Close = 47.00
CHANNEL = 62.25 TO 57.87 Degree = 2
Volatility = 9.32% Index = 1
Intraday Chart |
20 Days:
Stock Fetcher |
Point & Figure Chart |
Wall Street Analyzer |
Marketspace Chart |
Time Series Forecast |
Neural Network Prediction |
"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."
Ultimate Trading System |
Recommendation |
| Factors | Weighted Points |
|---|---|
| News | + 1 |
| Comparison | + 1 |
| Industry | + 1 |
| Bond Issue | 0 |
| Zenith Index | + 1 |
| Non-GAAP vs. GAAP Earnings < 1% | - 1 |
| Cash Flow | + 1 |
| Ratios | + 1 |
| Market Grader | - 1 |
| Intrinsic Value DCF | + 1 |
| Intrinsic Value DDM | + 1 |
| Stock Scout | + 1 |
| Projected Earnings | + 1 |
| Research Reports | + 1 |
| Analysts | + 1 |
| Executive Perquisites | - 1 |
| Insider Activity | - 1 |
| Institutional Activity | + 1 |
| Management Reporting | + 1 |
| Short Interest | - 1 |
| Sentiment | - 1 |
| Standard & Poor's | + 1 |
| Moving Average | + 1 |
| Right Time Study | - 1 |
| Stock Fetcher | - 1 |
| Point & Figure | - 1 |
| Wall Street Analyzer | + 1 |
| Marketspace Chart | - 1 |
| Time Series Chart | - 1 |
| Neural Network | 0 |
| Stock Options | + 1 |
| Ultimate Trading Systems | + 1 |
| Total | + 9 |
Place 610 shares of Rockwell Collins Inc. (COL) on the Active List.
