NYSE : RTX
RTX Corporation — Financial statements
Industrials · Aerospace & Defense · United States
Last price 199.8 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 269.62B
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Financial statements
RTX Corporation (RTX) reported revenue of 95.99B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 95.99B | 88.60B | 80.74B | 68.92B | 67.07B | 64.39B |
| Cost of Revenue | 75.74B | 70.81B | 65.33B | 56.83B | 53.41B | 51.90B |
| Gross Profit | 20.25B | 17.79B | 15.41B | 12.09B | 13.67B | 12.49B |
| Selling, General & Admin | 4.91B | 4.64B | 4.29B | 4.03B | 3.73B | 3.13B |
| Research & Development | 2.85B | 2.81B | 2.93B | 2.81B | 2.71B | 2.73B |
| Other Operating Expenses | -93.00M | -13.00M | -153.00M | -86.00M | -120.00M | -7.00M |
| Operating Expenses | 7.67B | 7.43B | 7.07B | 6.75B | 6.32B | 5.86B |
| Operating Income | 12.58B | 10.36B | 8.34B | 5.34B | 7.35B | 6.64B |
| Interest Expense | -1.62B | -1.83B | -1.97B | -1.65B | -1.30B | -1.33B |
| Interest & Investment Income | 68.00M | 98.00M | 102.00M | 100.00M | 70.00M | 36.00M |
| Other Non Operating Income (Expenses) | -12.00M | -12.00M | 6.00M | 48.00M | ||
| EBT Excluding Unusual Items | 11.02B | 8.61B | 6.48B | 3.84B | 6.12B | 5.34B |
| Gain (Loss) on Sale of Investments | 300.00M | 100.00M | ||||
| Gain (Loss) on Sale of Assets | 200.00M | 300.00M | 515.00M | 269.00M | ||
| Legal Settlements | -900.00M | |||||
| Other Unusual Items | -662.00M | -275.00M | -502.00M | |||
| Pretax Income | 10.86B | 8.73B | 6.19B | 3.84B | 6.12B | 5.11B |
| Income Tax Expense | 2.03B | 1.66B | 1.18B | 456.00M | 790.00M | 964.00M |
| Earnings From Continuing Operations | 8.83B | 7.07B | 5.01B | 3.38B | 5.33B | 4.14B |
| Earnings From Discontinued Operations | -19.00M | -33.00M | ||||
| Net Income to Company | 8.83B | 7.07B | 5.01B | 3.38B | 5.31B | 4.11B |
| Minority Interest in Earnings | -424.00M | -337.00M | -239.00M | -185.00M | -111.00M | -248.00M |
| Net Income | 8.40B | 6.73B | 4.77B | 3.19B | 5.20B | 3.86B |
| Net Income to Common | 8.40B | 6.73B | 4.77B | 3.19B | 5.20B | 3.86B |
| Shares Outstanding (Basic) | 1.35B | 1.34B | 1.33B | 1.43B | 1.48B | 1.50B |
| Shares Outstanding (Diluted) | 1.36B | 1.36B | 1.34B | 1.44B | 1.49B | 1.51B |
| EPS (Basic) | 6.23 | 5.02 | 3.58 | 2.24 | 3.52 | 2.57 |
| EPS (Diluted) | 6.15 | 4.96 | 3.55 | 2.23 | 3.50 | 2.56 |
| Free Cash Flow | 9.50B | 7.94B | 4.53B | 5.47B | 4.88B | 4.94B |
| Free Cash Flow Per Share | 6.96 | 5.85 | 3.38 | 3.81 | 3.28 | 3.27 |
| Dividend Per Share | 2.82 | 2.67 | 2.48 | 2.32 | 2.16 | 2.00 |
| Gross Margin | 21.10% | 20.08% | 19.09% | 17.54% | 20.38% | 19.40% |
| Operating Margin | 13.11% | 11.69% | 10.33% | 7.75% | 10.95% | 10.31% |
| Profit Margin | 8.75% | 7.60% | 5.91% | 4.64% | 7.75% | 6.00% |
| Free Cash Flow Margin | 9.90% | 8.96% | 5.62% | 7.93% | 7.28% | 7.67% |
| EBITDA | 16.96B | 14.73B | 12.71B | 9.55B | 11.46B | 11.19B |
| EBITDA Margin | 17.67% | 16.63% | 15.74% | 13.86% | 17.08% | 17.38% |
| D&A For EBITDA | 4.38B | 4.38B | 4.36B | 4.21B | 4.11B | 4.56B |
| EBIT | 12.58B | 10.36B | 8.34B | 5.34B | 7.35B | 6.64B |
| EBIT Margin | 13.11% | 11.69% | 10.33% | 7.75% | 10.95% | 10.31% |
| Effective Tax Rate | 18.72% | 19.05% | 19.07% | 11.89% | 12.91% | 18.87% |
| Revenue as Reported | 95.99B | 88.60B | 80.74B | 68.92B | 67.07B | 64.39B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 9.17B | 7.43B | 5.58B | 6.59B | 6.22B | 7.83B |
| Cash & Short-Term Investments | 9.17B | 7.43B | 5.58B | 6.59B | 6.22B | 7.83B |
| Receivables | 33.38B | 31.79B | 25.55B | 22.98B | 20.64B | 21.02B |
| Inventory | 14.95B | 13.36B | 12.77B | 11.78B | 10.62B | 9.18B |
| Other Current Assets | 8.56B | 7.74B | 7.24B | 7.08B | 4.96B | 4.02B |
| Total Current Assets | 66.07B | 60.33B | 51.13B | 48.42B | 42.44B | 42.05B |
| Property, Plant & Equipment | 19.00B | 18.75B | 17.95B | 17.39B | 17.00B | 16.93B |
| Goodwill | 52.97B | 53.34B | 52.79B | 53.70B | 53.84B | 54.44B |
| Other Intangible Assets | 30.65B | 31.84B | 33.44B | 35.40B | 36.82B | 38.52B |
| Finance Div. Loans and Leases Long-Term | 1.88B | 2.13B | 2.25B | 2.39B | 2.60B | 2.85B |
| Other Long-Term Assets | 6.02B | 4.67B | 5.30B | 4.58B | 6.16B | 6.62B |
| Total Assets | 176.60B | 171.08B | 162.86B | 161.87B | 158.86B | 161.40B |
| Accounts Payable | 17.80B | 15.89B | 12.90B | 10.70B | 9.90B | 8.75B |
| Accrued Expenses | 17.57B | 16.94B | 16.63B | 16.88B | 12.66B | 12.20B |
| Short-Term Debt | 210.00M | 204.00M | 183.00M | 189.00M | 625.00M | 134.00M |
| Current Portion of Long-Term Debt | 5.68B | 3.41B | 2.35B | 1.28B | 595.00M | 24.00M |
| Current Portion of Leases | 450.00M | 367.00M | 348.00M | 356.00M | 411.00M | |
| Current Unearned Revenue | 21.55B | 21.61B | 18.62B | 17.18B | 14.60B | 13.72B |
| Other Current Liabilities | 390.00M | 265.00M | 451.00M | 180.00M | 386.00M | 213.00M |
| Total Current Liabilities | 63.20B | 58.78B | 51.50B | 46.76B | 39.11B | 35.45B |
| Long-Term Debt | 31.43B | 34.22B | 38.64B | 42.26B | 30.61B | 31.23B |
| Long-Term Leases | 1.56B | 1.68B | 1.72B | 1.50B | 1.67B | 1.76B |
| Pension & Post-Retirement Benefits | 1.91B | 2.07B | 2.10B | 2.38B | 4.81B | 7.86B |
| Other Long-Term Liabilities | 7.51B | 7.20B | 6.94B | 7.51B | 8.45B | 10.42B |
| Total Liabilities | 105.60B | 103.94B | 100.90B | 100.42B | 84.65B | 86.70B |
| Common Stock | 38.67B | 38.13B | 37.43B | 37.05B | 37.94B | 37.48B |
| Retained Earnings | 60.60B | 56.72B | 53.59B | 52.15B | 52.27B | 50.27B |
| Treasury Stock | -26.71B | -26.88B | -27.11B | -26.98B | -15.53B | -12.73B |
| Comprehensive Income & Other | -3.31B | -2.72B | -3.75B | -2.43B | -2.05B | -1.95B |
| Total Common Equity | 69.25B | 65.25B | 60.16B | 59.80B | 72.63B | 73.07B |
| Minority Interest | 1.74B | 1.89B | 1.80B | 1.65B | 1.58B | 1.63B |
| Shareholders' Equity | 70.99B | 67.14B | 61.96B | 61.45B | 74.21B | 74.70B |
| Total Liabilities & Equity | 176.60B | 171.08B | 162.86B | 161.87B | 158.86B | 161.40B |
| Total Debt | 38.87B | 39.96B | 43.26B | 45.59B | 33.86B | 33.55B |
| Net Cash (Debt) | -29.70B | -32.52B | -37.68B | -39.00B | -27.64B | -25.72B |
| Net Cash Per Share | -21.76 | -23.98 | -28.05 | -27.17 | -18.60 | -17.05 |
| Filing Date Shares Outstanding | 1.35B | 1.34B | 1.33B | 1.32B | 1.46B | 1.49B |
| Total Common Shares Outstanding | 1.35B | 1.34B | 1.33B | 1.32B | 1.46B | 1.49B |
| Working Capital | 2.87B | 1.55B | -366.00M | 1.66B | 3.33B | 6.60B |
| Book Value Per Share | 51.32 | 48.61 | 45.16 | 45.14 | 49.71 | 49.17 |
| Tangible Book Value | -14.37B | -19.94B | -26.08B | -29.30B | -18.03B | -19.88B |
| Tangible Book Value Per Share | -10.65 | -14.86 | -19.57 | -22.12 | -12.34 | -13.38 |
| Land | 710.00M | 695.00M | 743.00M | 744.00M | 765.00M | |
| Buildings | 9.19B | 8.62B | 8.15B | 7.52B | 7.27B | |
| Machinery | 21.57B | 19.74B | 18.90B | 17.48B | 16.73B | |
| Order Backlog | 268.00B | 218.00B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 8.40B | 6.73B | 4.77B | 3.19B | 5.20B | 3.86B |
| Depreciation & Amortization | 4.38B | 4.38B | 4.36B | 4.21B | 4.11B | 4.56B |
| Loss (Gain) From Sale of Assets | -415.00M | |||||
| Stock-Based Compensation | 1.25B | 1.09B | 790.00M | 686.00M | 420.00M | 442.00M |
| Other Operating Activities | -99.00M | -361.00M | -1.27B | -1.72B | -3.08B | -1.44B |
| Change in Accounts Receivable | -4.07B | -5.88B | -2.59B | -2.56B | 203.00M | -2.16B |
| Change in Inventory | -1.20B | -532.00M | -1.47B | -1.10B | -1.57B | 163.00M |
| Change in Accounts Payable | 4.08B | 3.42B | 1.51B | 4.02B | 2.08B | 917.00M |
| Change in Unearned Revenue | 756.00M | 2.77B | 1.87B | 2.32B | 846.00M | 1.37B |
| Change in Other Net Operating Assets | -1.05B | -1.05B | -402.00M | -1.16B | -1.03B | -566.00M |
| Operating Cash Flow | 12.44B | 10.57B | 7.16B | 7.88B | 7.17B | 7.07B |
| Capital Expenditures | -2.93B | -2.63B | -2.62B | -2.42B | -2.29B | -2.13B |
| Cash Acquisitions | -66.00M | -1.09B | ||||
| Divestitures | 743.00M | 1.93B | 1.79B | 6.00M | 94.00M | 1.88B |
| Sale (Purchase) of Intangibles | -374.00M | -492.00M | -611.00M | -751.00M | -487.00M | -308.00M |
| Other Investing Activities | -321.00M | -5.00M | -77.00M | 26.00M | -111.00M | 129.00M |
| Investing Cash Flow | -2.96B | -1.26B | -1.53B | -3.04B | -2.83B | -1.36B |
| Short-Term Debt Issued | 10.00B | 518.00M | 47.00M | |||
| Long-Term Debt Issued | 12.91B | 1.00M | 4.06B | |||
| Total Debt Issued | 22.91B | 519.00M | 4.11B | |||
| Short-Term Debt Repaid | -10.52B | -29.00M | -160.00M | |||
| Long-Term Debt Repaid | -3.43B | -2.50B | -578.00M | -3.00M | -4.25B | |
| Total Debt Repaid | -1.67B | -3.43B | -2.50B | -11.10B | -32.00M | -4.41B |
| Net Debt Issued (Repaid) | -1.67B | -3.43B | -2.50B | 11.81B | 487.00M | -305.00M |
| Repurchase of Common Stock | -50.00M | -444.00M | -12.87B | -2.80B | -2.33B | |
| Common Dividends Paid | -3.80B | -3.57B | -3.22B | -3.24B | -3.13B | -2.96B |
| Other Financing Activities | -777.00M | -433.00M | -456.00M | -230.00M | -415.00M | -1.10B |
| Financing Cash Flow | -6.24B | -7.49B | -6.62B | -4.53B | -5.86B | -6.68B |
| Foreign Exchange Rate Adjustments | -12.00M | 48.00M | -28.00M | 18.00M | -42.00M | -1.00M |
| Net Cash Flow | 3.23B | 1.86B | -1.02B | 335.00M | -1.56B | -979.00M |
| Free Cash Flow | 9.50B | 7.94B | 4.53B | 5.47B | 4.88B | 4.94B |
| Free Cash Flow Margin | 9.90% | 8.96% | 5.62% | 7.93% | 7.28% | 7.67% |
| Free Cash Flow Per Share | 6.96 | 5.85 | 3.38 | 3.81 | 3.28 | 3.27 |
| Levered Free Cash Flow | 8.30B | 6.46B | 5.83B | 5.83B | 6.19B | 6.54B |
| Unlevered Free Cash Flow | 9.31B | 7.60B | 7.06B | 6.87B | 7.00B | 7.37B |
| Cash Interest Paid | 1.86B | 1.86B | 1.94B | 1.46B | 1.26B | 1.34B |
| Cash Income Tax Paid | 1.81B | 1.61B | 1.18B | 1.53B | 2.40B | 1.12B |
| Change in Working Capital | -1.50B | -1.27B | -1.08B | 1.51B | 522.00M | -278.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 269.62B | 245.90B | 154.03B | 120.71B | 148.53B | 129.02B |
| Enterprise Value | 299.32B | 282.52B | 192.84B | 153.69B | 179.72B | 155.99B |
| Last Close Price | 199.80 | 181.43 | 112.38 | 79.84 | 93.31 | 77.75 |
| PE Ratio | 32.48 | 36.53 | 32.26 | 37.78 | 28.58 | 33.39 |
| Forward PE | 25.74 | 28.44 | 19.83 | 16.25 | 20.88 | 18.62 |
| PS Ratio | 2.81 | 2.77 | 1.91 | 1.75 | 2.21 | 2.00 |
| PB Ratio | 3.89 | 3.66 | 2.49 | 1.97 | 2.00 | 1.73 |
| P/FCF Ratio | 28.38 | 30.97 | 33.97 | 22.08 | 30.44 | 26.13 |
| P/OCF Ratio | 21.68 | 23.27 | 21.52 | 15.31 | 20.72 | 18.25 |
| PEG Ratio | 2.14 | 2.80 | 1.89 | 1.59 | 2.47 | 1.00 |
| EV/Sales Ratio | 3.12 | 3.19 | 2.39 | 2.23 | 2.68 | 2.42 |
| EV/EBITDA Ratio | 17.65 | 19.17 | 15.18 | 16.09 | 15.69 | 13.94 |
| EV/EBIT Ratio | 23.79 | 27.28 | 23.12 | 28.78 | 24.46 | 23.51 |
| EV/FCF Ratio | 31.50 | 35.58 | 42.53 | 28.11 | 36.83 | 31.60 |
| Debt / Equity Ratio | 0.55 | 0.59 | 0.70 | 0.74 | 0.46 | 0.45 |
| Debt / EBITDA Ratio | 2.22 | 2.62 | 3.30 | 4.55 | 2.84 | 2.86 |
| Debt / FCF Ratio | 4.09 | 5.03 | 9.54 | 8.34 | 6.94 | 6.80 |
| Net Debt / Equity Ratio | 0.42 | 0.48 | 0.61 | 0.64 | 0.37 | 0.34 |
| Net Debt / EBITDA Ratio | 1.75 | 2.21 | 2.97 | 4.08 | 2.41 | 2.30 |
| Net Debt / FCF Ratio | 3.13 | 4.10 | 8.31 | 7.13 | 5.66 | 5.21 |
| Asset Turnover | 0.56 | 0.53 | 0.50 | 0.43 | 0.42 | 0.40 |
| Inventory Turnover | 5.27 | 5.42 | 5.32 | 5.08 | 5.40 | 5.58 |
| Quick Ratio | 0.67 | 0.67 | 0.60 | 0.63 | 0.69 | 0.81 |
| Current Ratio | 1.04 | 1.03 | 0.99 | 1.03 | 1.08 | 1.19 |
| Return on Equity (ROE) | 12.85% | 10.95% | 8.12% | 4.98% | 7.16% | 5.58% |
| Return on Assets (ROA) | 4.56% | 3.88% | 3.21% | 2.08% | 2.87% | 2.56% |
| Return on Invested Capital (ROIC) | 10.26% | 8.41% | 6.75% | 4.65% | 6.33% | 5.40% |
| Return on Capital Employed (ROCE) | 11.10% | 9.20% | 7.50% | 4.60% | 6.10% | 5.30% |
| Earnings Yield | 3.08% | 2.74% | 3.10% | 2.65% | 3.50% | 3.00% |
| FCF Yield | 3.52% | 3.23% | 2.94% | 4.53% | 3.29% | 3.83% |
| Dividend Yield | 1.46% | 1.46% | 2.15% | 2.55% | 2.12% | 2.31% |
| Payout Ratio | 47.47% | 53.09% | 67.39% | 101.38% | 60.19% | 76.53% |
| Buyback Yield / Dilution | -0.85% | -0.95% | 6.40% | 3.40% | 1.50% | -11.10% |
| Total Shareholder Return | 0.61% | 0.50% | 8.54% | 5.95% | 3.62% | -8.79% |