NYSE : TXT
Textron Inc. — Financial statements
Industrials · Aerospace & Defense · United States
Last price 85.7 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 14.52B
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Financial statements
Textron Inc. (TXT) reported revenue of 15.45B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 15.39B | 14.72B | 13.65B | 13.63B | 12.82B | 12.33B |
| Other Revenue | 61.00M | 75.00M | 50.00M | 55.00M | 52.00M | 49.00M |
| Revenue | 15.45B | 14.80B | 13.70B | 13.68B | 12.87B | 12.38B |
| Cost of Revenue | 12.72B | 12.10B | 11.16B | 10.84B | 10.20B | 10.30B |
| Gross Profit | 2.71B | 2.67B | 2.52B | 2.84B | 2.65B | 2.07B |
| Selling, General & Admin | 939.00M | 899.00M | 897.00M | 994.00M | 938.00M | 1.06B |
| Research & Development | 480.00M | 521.00M | 491.00M | 570.00M | 601.00M | |
| Operating Expenses | 1.42B | 1.42B | 1.39B | 1.56B | 1.54B | 1.06B |
| Operating Income | 1.29B | 1.25B | 1.14B | 1.27B | 1.11B | 1.00B |
| Interest Expense | -117.00M | -108.00M | -78.00M | -62.00M | -94.00M | -124.00M |
| EBT Excluding Unusual Items | 1.17B | 1.14B | 1.06B | 1.21B | 1.02B | 881.00M |
| Merger & Restructuring Charges | -4.00M | -116.00M | -126.00M | -25.00M | ||
| Gain (Loss) on Sale of Assets | 17.00M | |||||
| Asset Writedown | -2.00M | |||||
| Pretax Income | 1.17B | 1.14B | 943.00M | 1.09B | 1.02B | 873.00M |
| Income Tax Expense | 198.00M | 214.00M | 118.00M | 165.00M | 154.00M | 126.00M |
| Earnings From Continuing Operations | 974.00M | 923.00M | 825.00M | 922.00M | 862.00M | 747.00M |
| Earnings From Discontinued Operations | -1.00M | -2.00M | -1.00M | -1.00M | -1.00M | -1.00M |
| Net Income | 973.00M | 921.00M | 824.00M | 921.00M | 861.00M | 746.00M |
| Net Income to Common | 973.00M | 921.00M | 824.00M | 921.00M | 861.00M | 746.00M |
| Shares Outstanding (Basic) | 173.72M | 178.90M | 188.32M | 199.72M | 212.81M | 224.11M |
| Shares Outstanding (Diluted) | 175.21M | 180.26M | 190.31M | 201.77M | 214.97M | 226.52M |
| EPS (Basic) | 5.60 | 5.15 | 4.38 | 4.61 | 4.05 | 3.33 |
| EPS (Diluted) | 5.55 | 5.11 | 4.33 | 4.57 | 4.01 | 3.30 |
| Free Cash Flow | 809.00M | 929.00M | 650.00M | 864.00M | 1.13B | 1.22B |
| Free Cash Flow Per Share | 4.62 | 5.15 | 3.42 | 4.28 | 5.28 | 5.40 |
| Dividend Per Share | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
| Gross Margin | 17.53% | 18.04% | 18.43% | 20.75% | 20.60% | 16.69% |
| Operating Margin | 8.34% | 8.44% | 8.30% | 9.32% | 8.64% | 8.12% |
| Profit Margin | 6.30% | 6.22% | 6.01% | 6.73% | 6.69% | 6.02% |
| Free Cash Flow Margin | 5.24% | 6.28% | 4.74% | 6.31% | 8.81% | 9.88% |
| EBITDA | 1.69B | 1.65B | 1.52B | 1.67B | 1.51B | 1.40B |
| EBITDA Margin | 10.95% | 11.15% | 11.09% | 12.21% | 11.73% | 11.27% |
| D&A For EBITDA | 403.00M | 401.00M | 382.00M | 395.00M | 397.00M | 390.00M |
| EBIT | 1.29B | 1.25B | 1.14B | 1.27B | 1.11B | 1.00B |
| EBIT Margin | 8.34% | 8.44% | 8.30% | 9.32% | 8.64% | 8.12% |
| Effective Tax Rate | 16.89% | 18.82% | 12.51% | 15.18% | 15.16% | 14.43% |
| Revenue as Reported | 15.45B | 14.80B | 13.70B | 13.68B | 12.87B | 12.38B |
Balance sheet
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.61B | 1.94B | 1.39B | 2.12B | 1.96B | 1.92B |
| Cash & Short-Term Investments | 1.61B | 1.94B | 1.39B | 2.12B | 1.96B | 1.92B |
| Receivables | 920.00M | 1.27B | 1.29B | 1.38B | 1.53B | 1.55B |
| Inventory | 4.86B | 4.28B | 4.07B | 3.91B | 3.55B | 3.47B |
| Finance Div. Loans and Leases | 596.00M | 574.00M | 603.00M | 585.00M | 563.00M | 605.00M |
| Finance Div. Other Current Assets | 86.00M | 85.00M | 55.00M | 60.00M | 72.00M | 195.00M |
| Other Current Assets | 816.00M | 421.00M | 342.00M | 344.00M | 353.00M | 301.00M |
| Total Current Assets | 8.89B | 8.57B | 7.75B | 8.40B | 8.04B | 8.05B |
| Property, Plant & Equipment | 2.98B | 2.98B | 2.89B | 2.85B | 2.90B | 2.91B |
| Goodwill | 2.31B | 2.32B | 2.29B | 2.29B | 2.28B | 2.15B |
| Other Long-Term Assets | 4.16B | 4.24B | 3.89B | 3.29B | 3.05B | 2.65B |
| Total Assets | 18.35B | 18.13B | 16.84B | 16.86B | 16.29B | 15.83B |
| Accounts Payable | 1.30B | 1.19B | 943.00M | 1.02B | 1.02B | 786.00M |
| Accrued Expenses | 442.00M | 456.00M | 466.00M | 414.00M | 477.00M | |
| Current Portion of Long-Term Debt | 355.00M | 350.00M | 357.00M | 7.00M | 6.00M | |
| Current Portion of Leases | 55.00M | 63.00M | 62.00M | 55.00M | 54.00M | 56.00M |
| Current Unearned Revenue | 1.90B | 1.73B | 1.59B | 1.42B | 1.10B | |
| Other Current Liabilities | 3.22B | 766.00M | 849.00M | 882.00M | 761.00M | 706.00M |
| Total Current Liabilities | 4.93B | 4.35B | 4.39B | 4.38B | 3.67B | 3.14B |
| Long-Term Debt | 3.08B | 3.44B | 2.80B | 3.15B | 3.17B | 3.18B |
| Finance Div. Debt Long-Term | 339.00M | 339.00M | 341.00M | 348.00M | 375.00M | 582.00M |
| Finance Div. Other Long-Term Liabilities | 34.00M | 48.00M | 64.00M | 70.00M | 81.00M | 110.00M |
| Long-Term Leases | 376.00M | 441.00M | 406.00M | 349.00M | 326.00M | 325.00M |
| Pension & Post-Retirement Benefits | 400.00M | 404.00M | 452.00M | 448.00M | ||
| Long-Term Deferred Tax Liabilities | 123.00M | 96.00M | 56.00M | 52.00M | 49.00M | |
| Other Long-Term Liabilities | 1.47B | 1.11B | 1.13B | 1.07B | 1.05B | 1.63B |
| Total Liabilities | 10.23B | 10.25B | 9.63B | 9.87B | 9.18B | 9.01B |
| Common Stock | 22.00M | 22.00M | 23.00M | 24.00M | 26.00M | 28.00M |
| Additional Paid-In Capital | 2.16B | 2.00B | 1.96B | 1.91B | 1.88B | 1.86B |
| Retained Earnings | 6.51B | 5.78B | 5.61B | 5.86B | 5.90B | 5.87B |
| Treasury Stock | -675.00M | -55.00M | -82.00M | -165.00M | -84.00M | -157.00M |
| Comprehensive Income & Other | 96.00M | 129.00M | -304.00M | -644.00M | -612.00M | -789.00M |
| Shareholders' Equity | 8.12B | 7.88B | 7.20B | 6.99B | 7.11B | 6.82B |
| Total Liabilities & Equity | 18.35B | 18.13B | 16.84B | 16.86B | 16.29B | 15.83B |
| Total Debt | 4.21B | 4.28B | 3.96B | 4.25B | 3.94B | 4.15B |
| Net Cash (Debt) | -2.60B | -2.34B | -2.57B | -2.13B | -1.97B | -2.23B |
| Net Cash Per Share | -14.83 | -12.99 | -13.52 | -10.58 | -9.18 | -9.83 |
| Filing Date Shares Outstanding | 169.40M | 174.16M | 182.57M | 192.85M | 205.22M | 216.68M |
| Total Common Shares Outstanding | 169.45M | 174.31M | 183.00M | 192.90M | 206.16M | 216.90M |
| Working Capital | 3.96B | 4.22B | 3.36B | 4.03B | 4.37B | 4.91B |
| Book Value Per Share | 47.90 | 45.18 | 39.37 | 36.22 | 34.50 | 31.42 |
| Tangible Book Value | 5.80B | 5.55B | 4.92B | 4.69B | 4.83B | 4.67B |
| Tangible Book Value Per Share | 34.26 | 31.86 | 26.86 | 24.32 | 23.43 | 21.51 |
| Land | 2.51B | 2.36B | 2.23B | 2.14B | 2.10B | |
| Machinery | 5.86B | 5.64B | 5.50B | 5.47B | 5.33B | |
| Order Backlog | 18.82B | 17.91B |
Cash flow statement
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 973.00M | 921.00M | 824.00M | 921.00M | 861.00M | 746.00M |
| Depreciation & Amortization | 403.00M | 401.00M | 382.00M | 395.00M | 397.00M | 390.00M |
| Loss (Gain) From Sale of Assets | -4.00M | -17.00M | ||||
| Asset Writedown & Restructuring Costs | 1.00M | 1.00M | 41.00M | 88.00M | 2.00M | 13.00M |
| Other Operating Activities | 250.00M | 292.00M | 79.00M | -99.00M | -117.00M | 114.00M |
| Change in Accounts Receivable | 148.00M | 107.00M | -96.00M | -9.00M | -26.00M | -58.00M |
| Change in Inventory | -390.00M | -264.00M | -194.00M | -359.00M | -55.00M | 45.00M |
| Change in Accounts Payable | 100.00M | 197.00M | -69.00M | 2.00M | 235.00M | 13.00M |
| Change in Income Taxes | 43.00M | -45.00M | -26.00M | 4.00M | 18.00M | 11.00M |
| Change in Other Net Operating Assets | -215.00M | -293.00M | 74.00M | 324.00M | 175.00M | 342.00M |
| Operating Cash Flow | 1.31B | 1.31B | 1.01B | 1.27B | 1.49B | 1.60B |
| Capital Expenditures | -503.00M | -383.00M | -364.00M | -402.00M | -354.00M | -375.00M |
| Sale of Property, Plant & Equipment | 6.00M | 9.00M | 4.00M | 18.00M | 22.00M | 3.00M |
| Cash Acquisitions | -1.00M | -1.00M | -13.00M | -1.00M | -202.00M | |
| Divestitures | 16.00M | 38.00M | ||||
| Other Investing Activities | 45.00M | 168.00M | 85.00M | 42.00M | 67.00M | 34.00M |
| Investing Cash Flow | -451.00M | -207.00M | -284.00M | -317.00M | -447.00M | -281.00M |
| Long-Term Debt Issued | 991.00M | 348.00M | ||||
| Total Debt Issued | 496.00M | 991.00M | 348.00M | |||
| Short-Term Debt Repaid | -14.00M | -1.00M | ||||
| Long-Term Debt Repaid | -720.00M | -377.00M | -44.00M | -234.00M | -621.00M | |
| Total Debt Repaid | -429.00M | -720.00M | -377.00M | -44.00M | -248.00M | -622.00M |
| Net Debt Issued (Repaid) | 67.00M | 271.00M | -377.00M | 304.00M | -248.00M | -622.00M |
| Issuance of Common Stock | 80.00M | 40.00M | 88.00M | 73.00M | 44.00M | 116.00M |
| Repurchase of Common Stock | -803.00M | -822.00M | -1.12B | -1.17B | -867.00M | -921.00M |
| Common Dividends Paid | -17.00M | -18.00M | -12.00M | -16.00M | -17.00M | -18.00M |
| Other Financing Activities | -11.00M | -14.00M | -31.00M | -6.00M | -3.00M | -1.00M |
| Financing Cash Flow | -684.00M | -543.00M | -1.45B | -813.00M | -1.09B | -1.45B |
| Foreign Exchange Rate Adjustments | -3.00M | 22.00M | -16.00M | 10.00M | -32.00M | -8.00M |
| Net Cash Flow | 174.00M | 584.00M | -740.00M | 146.00M | -82.00M | -137.00M |
| Free Cash Flow | 809.00M | 929.00M | 650.00M | 864.00M | 1.13B | 1.22B |
| Free Cash Flow Margin | 5.24% | 6.28% | 4.74% | 6.31% | 8.81% | 9.88% |
| Free Cash Flow Per Share | 4.62 | 5.15 | 3.42 | 4.28 | 5.28 | 5.40 |
| Levered Free Cash Flow | 756.50M | 853.12M | 680.88M | 991.12M | 1.33B | 1.04B |
| Unlevered Free Cash Flow | 829.62M | 920.62M | 729.62M | 1.03B | 1.39B | 1.12B |
| Cash Interest Paid | 152.00M | 152.00M | 142.00M | 122.00M | 123.00M | 145.00M |
| Cash Income Tax Paid | 104.00M | 104.00M | 191.00M | 352.00M | 356.00M | 93.00M |
| Change in Working Capital | -314.00M | -298.00M | -311.00M | -38.00M | 347.00M | 353.00M |
Ratios
Fiscal year February - January; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 15.00B | 15.34B | 14.32B | 15.76B | 14.78B | 17.02B |
| Enterprise Value | 17.60B | 18.04B | 16.99B | 17.99B | 16.89B | 19.21B |
| Last Close Price | 85.70 | 86.99 | 77.08 | 80.21 | 70.54 | 76.82 |
| PE Ratio | 15.95 | 16.66 | 17.38 | 17.11 | 17.17 | 22.81 |
| Forward PE | 12.57 | 13.13 | 12.98 | 13.82 | 16.30 | 20.71 |
| PS Ratio | 0.96 | 1.04 | 1.04 | 1.15 | 1.15 | 1.37 |
| PB Ratio | 1.79 | 1.95 | 1.99 | 2.26 | 2.08 | 2.50 |
| P/TBV Ratio | 2.57 | 2.76 | 2.91 | 3.36 | 3.06 | 3.65 |
| P/FCF Ratio | 18.43 | 16.51 | 22.04 | 18.24 | 13.03 | 13.91 |
| P/OCF Ratio | 11.36 | 11.69 | 14.13 | 12.45 | 9.93 | 10.65 |
| PEG Ratio | 1.10 | 1.16 | 1.28 | 1.18 | 1.07 | 0.85 |
| EV/Sales Ratio | 1.13 | 1.22 | 1.24 | 1.31 | 1.31 | 1.55 |
| EV/EBITDA Ratio | 10.35 | 10.93 | 11.19 | 10.78 | 11.20 | 13.77 |
| EV/EBIT Ratio | 13.58 | 14.44 | 14.95 | 14.11 | 15.19 | 19.12 |
| EV/FCF Ratio | 21.64 | 19.42 | 26.14 | 20.83 | 14.90 | 15.71 |
| Debt / Equity Ratio | 0.52 | 0.54 | 0.55 | 0.61 | 0.55 | 0.61 |
| Debt / EBITDA Ratio | 2.38 | 2.49 | 2.49 | 2.45 | 2.49 | 2.84 |
| Debt / FCF Ratio | 5.20 | 4.61 | 6.09 | 4.92 | 3.47 | 3.39 |
| Net Debt / Equity Ratio | 0.32 | 0.30 | 0.36 | 0.30 | 0.28 | 0.33 |
| Net Debt / EBITDA Ratio | 1.54 | 1.42 | 1.69 | 1.28 | 1.31 | 1.60 |
| Net Debt / FCF Ratio | 3.21 | 2.52 | 3.96 | 2.47 | 1.74 | 1.82 |
| Asset Turnover | 0.86 | 0.85 | 0.81 | 0.83 | 0.80 | 0.79 |
| Inventory Turnover | 2.73 | 2.90 | 2.80 | 2.90 | 2.91 | 2.95 |
| Quick Ratio | 0.65 | 0.89 | 0.76 | 0.95 | 1.13 | 1.36 |
| Current Ratio | 1.80 | 1.97 | 1.76 | 1.92 | 2.19 | 2.57 |
| Return on Equity (ROE) | 12.48% | 12.24% | 11.63% | 13.08% | 12.38% | 11.80% |
| Return on Assets (ROA) | 4.51% | 4.46% | 4.22% | 4.81% | 4.33% | 4.02% |
| Return on Invested Capital (ROIC) | 9.95% | 10.14% | 10.53% | 11.88% | 10.41% | 9.85% |
| Return on Capital Employed (ROCE) | 9.60% | 9.10% | 9.10% | 10.20% | 8.80% | 7.90% |
| Earnings Yield | 6.27% | 6.00% | 5.75% | 5.84% | 5.83% | 4.38% |
| FCF Yield | 5.43% | 6.06% | 4.54% | 5.48% | 7.67% | 7.19% |
| Dividend Yield | 0.09% | 0.09% | 0.10% | 0.10% | 0.11% | 0.10% |
| Payout Ratio | 1.44% | 1.95% | 1.46% | 1.74% | 1.97% | 2.41% |
| Buyback Yield / Dilution | 3.93% | 5.28% | 5.68% | 6.14% | 5.10% | 1.07% |
| Total Shareholder Return | 4.02% | 5.37% | 5.79% | 6.24% | 5.21% | 1.18% |