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| Days sales outstanding, days inventory outstanding, days payables outstanding, and days working capital in 67 industry sectors. |
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CFO Staff,
CFO Magazine
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| AEROSPACE AND DEFENSE |
| COMPANY |
DSO |
DIO |
DPO |
DWC |
| 2003 |
Change '03 - '02 |
Change '02 - '01 |
2003 |
Change '03 - '02 |
Change '02 - '01 |
2003 |
Change '03 - '02 |
Change '02 - '01 |
2003 |
Change '03 - '02 |
Change '02 - '01 |
| L 3 COMMUNICATIONS |
40 |
-35% |
+20% |
0 |
N/M |
N/M |
14 |
-7% |
-50% |
26 |
-43% |
+122% |
| NORTHROP GRUMMAN |
45 |
-7% |
-18% |
16 |
-10% |
-32% |
21 |
-10% |
+7% |
40 |
-6% |
-32% |
| LOCKHEED MARTIN |
46 |
-8% |
-19% |
27 |
-13% |
-35% |
16 |
+9% |
-30% |
57 |
-14% |
-25% |
| TITAN |
80 |
-3% |
-15% |
6 |
-26% |
+3% |
19 |
-12% |
-18% |
67 |
-3% |
-13% |
| UNITED TECHNOLOGIES |
59 |
+7% |
-11% |
43 |
-10% |
-7% |
33 |
+21% |
-4% |
70 |
-9% |
-11% |
| HEXCEL CORP |
49 |
-3% |
-1% |
47 |
-4% |
+2% |
26 |
+11% |
+11% |
70 |
-8% |
-2% |
| UNITED DEFENSE INDUSTRIES |
30 |
-14% |
+61% |
69 |
-6% |
-27% |
22 |
+1% |
-10% |
77 |
-11% |
-12% |
| GENERAL DYNAMICS |
29 |
+1% |
-5% |
77 |
-12% |
-3% |
27 |
-1% |
+3% |
79 |
-11% |
-6% |
| PRECISION CASTPARTS |
58 |
+15% |
-19% |
60 |
+2% |
+3% |
38 |
+10% |
+10% |
79 |
+7% |
-15% |
| ALLIANT TECHSYSTEMS |
78 |
-1% |
+15% |
23 |
+1% |
+32% |
19 |
+26% |
-33% |
82 |
-5% |
+37% |
| GENCORP |
54 |
+21% |
-4% |
65 |
+20% |
+31% |
35 |
+22% |
+40% |
84 |
+20% |
+4% |
| GOODRICH |
59 |
-11% |
+10% |
80 |
+3% |
+6% |
35 |
-3% |
+2% |
105 |
-3% |
+10% |
| RAYTHEON |
40 |
-5% |
+2% |
96 |
-13% |
-10% |
17 |
-1% |
-17% |
119 |
-12% |
-6% |
| SEQUA |
70 |
+31% |
+2% |
89 |
+8% |
+5% |
37 |
+16% |
+15% |
122 |
+17% |
+1% |
| KAMAN |
79 |
-3% |
+4% |
73 |
+7% |
-17% |
24 |
+26% |
-11% |
128 |
-2% |
-6% |
| BOEING |
126 |
+9% |
+19% |
39 |
-8% |
-4% |
28 |
-8% |
-0% |
137 |
+7% |
+15% |
| Sector Average |
68 |
-2% |
+0% |
44 |
-10% |
-12% |
25 |
-1% |
-6% |
87 |
-7% |
-5% |
For a fuller discussion of working capital, return to the article "Off the Shelf: The 2004 Working Capital Survey."
All data based on public financials and adjusted as needed for comparability.
DSO: Days Sales Outstanding
DIO: Days Inventory Outstanding
DPO: Days Payables Outstanding
DWC: Days Working Capital
* Adjusted for effects of securitization
N/M: Not meaningful
Source: REL Consultancy Group
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