RTX Corp RTX
RTX Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military, and government customers worldwide. The terms "we," "us," "our," the "Company", and "RTX" mean RTX Corporation and its subsidiaries, unless the context indicates another meaning. We serve commercial and government customers in both the original equipment and aftermarket parts and services segments of the aerospace industry. Our defense business serves both domestic and international customers as a prime contractor or subcontractor on a broad portfolio of defense and related programs for military and government customers. RTX Corporation was incorporated in Delaware in 1934.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $88.60B | $80.74B | $68.92B | $67.07B | $64.39B | $56.59B | $45.35B | $34.70B | $29.71B | $57.24B |
| Cost of revenue | — | — | — | — | — | — | — | — | $12.93B | $11.13B |
| Gross profit | — | — | — | — | — | — | — | — | $16.79B | $46.11B |
| R&D | $2.81B | $2.93B | $2.81B | $2.71B | $2.73B | $2.58B | $2.45B | $1.88B | $1.88B | $2.38B |
| SG&A | $6.09B | $5.81B | $5.81B | $5.57B | $5.05B | $5.54B | $3.71B | $2.86B | $2.39B | $5.96B |
| Total operating expenses | $79.72B | $74.07B | $65.44B | $61.69B | $59.67B | $56.18B | $40.76B | $32.21B | $27.25B | $49.80B |
| Operating income | $9.30B | $6.54B | $3.56B | $5.50B | $5.14B | -$1.89B | $4.91B | $2.88B | $2.99B | $8.22B |
| Interest expense | — | $1.86B | $1.50B | $1.28B | $1.32B | $1.37B | $1.59B | $1.03B | $922.0M | $1.04B |
| Pre-tax income | $8.73B | $6.19B | $3.84B | $6.12B | $5.11B | -$2.35B | $4.15B | $2.50B | $2.52B | $7.13B |
| Income tax | $1.66B | $1.18B | $456.0M | $790.0M | $964.0M | $575.0M | $421.0M | $1.10B | $1.05B | $1.70B |
| Net income | $6.73B | $4.77B | $3.19B | $5.20B | $3.86B | -$3.52B | $5.54B | $5.27B | $4.55B | $5.05B |
| EPS, basic | 5.02 | 3.58 | 2.24 | 3.52 | 2.57 | -2.59 | 6.48 | 6.58 | 5.76 | 6.18 |
| EPS, diluted | 4.96 | 3.55 | 2.23 | 3.50 | 2.56 | -2.59 | 6.41 | 6.50 | 5.70 | 6.12 |
| Shares, diluted (wtd. avg.) | $1.36B | $1.34B | $1.44B | $1.49B | $1.51B | $1.36B | $863.9M | $810.1M | $799.1M | $826.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $7.43B | $5.58B | $6.59B | $6.29B | $7.83B | $8.80B | $4.96B | $3.73B | $6.12B | $7.16B |
| Short-term investments | $750.0M | $786.0M | $745.0M | $774.0M | $965.0M | $881.0M | $0 | — | — | — |
| Receivables | $14.70B | $10.98B | $10.84B | $9.11B | $9.66B | $9.25B | $8.74B | $14.27B | $12.60B | $11.48B |
| Inventory | $13.36B | $12.77B | $11.78B | $10.62B | $9.18B | $9.41B | $9.05B | $10.08B | $9.88B | $8.70B |
| Total current assets | $60.33B | $51.13B | $48.42B | $42.44B | $42.05B | $43.38B | $61.58B | $35.50B | $32.86B | $28.55B |
| Property, plant and equipment | $16.87B | $16.09B | $15.75B | $15.17B | $14.97B | $14.96B | $10.32B | $12.30B | $10.19B | $9.16B |
| Goodwill | $53.34B | $52.79B | $53.70B | $53.84B | $54.44B | $54.28B | $36.61B | $48.11B | $27.91B | $27.06B |
| Other intangibles | $31.84B | $33.44B | $35.40B | $36.82B | $38.52B | $40.54B | $24.47B | $26.42B | $15.88B | $15.68B |
| Total assets | $171.08B | $162.86B | $161.87B | $158.86B | $161.40B | $162.15B | $139.62B | $134.21B | $96.92B | $89.71B |
| Accounts payable | $15.89B | $12.90B | $10.70B | $9.90B | $8.75B | $8.64B | $7.82B | $11.08B | $9.58B | $7.48B |
| Short-term debt | $204.0M | $183.0M | $189.0M | $625.0M | $134.0M | $247.0M | $2.29B | $1.47B | $392.0M | $601.0M |
| Total current liabilities | $58.78B | $51.50B | $46.76B | $39.11B | $35.45B | $35.85B | $46.59B | $31.37B | $24.39B | $21.91B |
| Long-term debt | — | $41.08B | $43.64B | $31.29B | $31.35B | $31.58B | $40.96B | $44.07B | $27.09B | $23.30B |
| Total liabilities | $103.94B | $100.90B | $100.42B | $84.65B | $86.70B | $88.27B | $95.29B | $93.49B | $65.37B | $60.24B |
| Retained earnings | $56.72B | $53.59B | $52.15B | $52.27B | $50.27B | $49.42B | $61.59B | $57.82B | $55.24B | $52.87B |
| Total equity | $65.25B | $60.16B | $61.41B | $74.18B | $74.66B | $73.85B | $44.23B | $40.61B | $31.42B | $29.17B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $10.57B | $7.16B | $7.88B | $7.17B | $7.14B | $4.33B | $5.82B | $2.67B | $2.28B | $6.41B |
| Depreciation and amortisation | $4.38B | $4.36B | $4.21B | $4.11B | $4.56B | $4.16B | $2.71B | $1.90B | $1.58B | $1.96B |
| Stock-based compensation | $519.0M | $437.0M | $425.0M | $420.0M | $442.0M | $330.0M | $268.0M | $169.0M | $129.0M | $152.0M |
| Capital expenditure | $2.63B | $2.62B | $2.42B | $2.29B | $2.13B | $1.79B | $1.87B | $1.47B | $1.56B | $1.70B |
| Investing cash flow | -$1.26B | -$1.53B | -$3.04B | -$2.83B | -$1.36B | $3.34B | -$2.68B | -$17.26B | -$3.13B | -$2.51B |
| Financing cash flow | -$7.49B | -$6.62B | -$4.53B | -$5.86B | -$6.76B | -$3.86B | -$1.91B | $12.21B | $2.44B | -$1.19B |
| Dividends paid | $3.57B | $3.22B | $3.24B | $3.13B | $2.96B | $2.73B | $2.44B | $2.17B | $2.07B | $2.07B |
| Buybacks | $50.0M | $444.0M | $12.87B | $2.80B | $2.33B | $47.0M | $151.0M | $325.0M | $1.45B | $2.25B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000101829-26-000006.
Others in SIC 3724
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| HON | HONEYWELL INTERNATIONAL INC | $66.43B | 28.5x | 7.8% |
| HEI | HEICO CORP | $45.47B | 66.4x | 16.3% |
| SARO | StandardAero, Inc. | $8.21B | 29.9x | 15.8% |
| SIF | SIFCO INDUSTRIES INC | $133.5M | — | 6.5% |
| TATT | TAT TECHNOLOGIES LTD | — | — | 17.0% |