United Technologies was founded in 1934 and is headquartered in Farmington, US

President & CEO

SVP & CFO

COO, Intercontinental Operations

SVP, Strategic Planning

SVP & General Counsel

President, UTC Aerospace Systems

SVP, Aerospace Business Development

President, Sikorsky Aircraft

SVP, HR and Organization

United Technologies has offices in Farmington, East Hartford, Berkeley, Charlotte and in 115 other locations

Farmington, US (HQ)

10 Farm Springs Rd.

Jupiter, US

17900 Bee Line Hwy

Charlotte, US

Four Coliseum Centre, 2730 West Tyvola Road

East Hartford, US

400 Main Street

Farmington, US

One Carrier Place

Berkeley, US

2855 Telegraph Avenue, Suite 410

East Hartford, US

411 Silver Lane

United Technologies's revenue was reported to be $57.2 b in FY, 2016 which is a **2% increase** from the previous period.

## Revenue (FY, 2016) | $57.2 b |

## Revenue growth (FY, 2015 - FY, 2016), % | 2% |

## Gross profit (FY, 2016) | $26.9 b |

## Gross profit margin (FY, 2016), % | 47% |

## Net income (FY, 2016) | $5.4 b |

## EBIT (FY, 2016) | $1 m |

## Market capitalization (19-May-2017) | $97.1 b |

## Closing share price (19-May-2017) | $119.4 |

## Cash (31-Dec-2016) | $7.2 b |

## EV | $113.8 b |

United Technologies's current market capitalization is $97.1 b.

- Source: SEC Filings

FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} | |
---|---|---|---|---|

## Revenue | $62.6 b | $65.1 b | $56.1 b | $57.2 b |

## Revenue growth, % | 4% | (14%) | 2% | |

## Cost of goods sold | $30.1 b | $30.4 b | $29.8 b | $30.3 b |

## Gross profit | $32.6 b | $34.7 b | $26.3 b | $26.9 b |

## Gross profit Margin, % | 52% | 53% | 47% | 47% |

## Operating expense total | $43.3 b | $45.2 b | $48.6 b | $49.9 b |

## EBIT | $9.2 b | $9.8 b | $252 m | $1 m |

## EBIT margin, % | 15% | 15% | 0% | 0% |

## Interest expense | $895 m | $881 m | $824 m | $1 b |

## Pre tax profit | $7.7 b | $8.7 b | $6.5 b | $7.1 b |

## Income tax expense | $2 b | $2.2 b | $2.1 b | $1.7 b |

## Net Income | $6.1 b | $6.6 b | $4.4 b | $5.4 b |

- Source: SEC Filings

FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} | |
---|---|---|---|---|

## Cash | $4.6 b | $5.2 b | $7.1 b | $7.2 b |

## Accounts Receivable | $11.5 b | $11.3 b | $10.7 b | $11.5 b |

## Current Assets | $29.4 b | $29.8 b | $26.7 b | $28.6 b |

## Goodwill | $28.2 b | $27.8 b | $27.3 b | $27.1 b |

## Total Assets | $90.6 b | $91.3 b | $87.5 b | $89.7 b |

## Accounts Payable | $7 b | $7 b | $6.9 b | $7.5 b |

## Total Debt | $20.2 b | $19.8 b | $20.4 b | $23.9 b |

## Current Liabilities | $22.8 b | $22.9 b | $22.6 b | $21.9 b |

## Retained Earnings | $40.5 b | $44.6 b | $50 b | $52.9 b |

## Total Equity | $33.2 b | $32.6 b | $28.8 b | $29.2 b |

## Debt to Equity Ratio | 0.6 x | 0.6 x | 0.7 x | 0.8 x |

## Debt to Assets Ratio | 0.2 x | 0.2 x | 0.2 x | 0.3 x |

## Financial Leverage | 2.7 x | 2.8 x | 3 x | 3.1 x |

FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} | |
---|---|---|---|---|

## Net Income | $6.1 b | $6.6 b | $4.4 b | $5.4 b |

## Accounts Receivable | ($531 m) | $7 m | $438 m | $941 m |

## Cash From Operating Activities | $7.5 b | $7.3 b | $6.8 b | $6.4 b |

## Capital Expenditures | ($1.7 b) | ($1.7 b) | ($1.7 b) | ($1.7 b) |

## Cash From Investing Activities | ($1.5 b) | ($2.3 b) | ($2.8 b) | ($2.5 b) |

## Long-term Borrowings | $2.9 b | $305 m | $1.8 b | $2.5 b |

## Cash From Financing Activities | ($5.9 b) | ($4.3 b) | ($10.8 b) | ($1.2 b) |

## Interest Paid | $1 b | $1.1 b | $1.1 b | $1.2 b |

## Income Taxes Paid | $2.8 b | $2 b | $2.1 b | $4.1 b |

## Free Cash Flow | $9.2 b | $9 b | $8.4 b | $8.1 b |

Y, 2016 | |
---|---|

## EV/EBIT | 113.8 k x |

## EV/CFO | 17.8 x |

## EV/FCF | 14 x |

## Revenue/Employee | $288.3 k |

## Debt/Equity | 0.8 x |

## Debt/Assets | 0.3 x |

## Financial Leverage | 3.1 x |

Source: 50 public H-1B filings from United Technologies