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RTX (RTX) Financials

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$156.92 -0.65 (-0.41%)
Closing price 08/1/2025 03:59 PM Eastern
Extended Trading
$156.56 -0.36 (-0.23%)
As of 08/1/2025 08:00 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for RTX

Annual Income Statements for RTX

This table shows RTX's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 7,608 5,055 4,552 5,269 5,537 -3,519 3,864 5,197 3,195 4,774
Consolidated Net Income / (Loss)		 7,966 5,416 4,920 5,654 5,948 -3,295 4,112 5,308 3,380 5,013
Net Income / (Loss) Continuing Operations		 4,356 5,436 4,920 1,406 3,731 -2,928 4,145 5,327 3,380 5,013
Total Pre-Tax Income 		6,467 7,133 7,763 2,504 4,152 -2,353 5,109 6,117 3,836 6,194
Total Operating Income		 7,291 8,221 8,138 2,877 4,914 -1,889 5,136 5,504 3,561 6,538
Total Gross Profit		 15,667 15,773 15,636 7,236 10,751 8,531 12,491 13,668 12,089 15,410
Total Revenue		 56,098 57,244 59,837 34,701 45,349 56,587 64,388 67,074 68,920 80,738
Operating Revenue		 56,098 57,244 59,837 34,701 45,349 56,587 64,388 67,074 68,920 80,738
Total Cost of Revenue		 40,431 41,471 44,201 27,465 34,598 48,056 51,897 53,406 56,831 65,328
Operating Cost of Revenue		 40,431 41,471 44,201 27,465 34,598 48,056 51,897 53,406 56,831 65,328
Total Operating Expenses		 8,376 7,552 7,498 4,359 5,837 10,420 7,355 8,164 8,528 8,872
Selling, General & Admin Expense		 6,097 5,958 6,429 2,864 3,711 5,540 5,046 5,573 5,809 5,806
Research & Development Expense		 2,279 2,376 2,427 1,878 2,452 2,582 2,732 2,711 2,805 2,934
Other Operating Expenses / (Income)		 0.00 -782 -1,358 -383 -326 -885 -423 -120 -86 132
Total Other Income / (Expense), net		 -824 -1,088 -375 -373 -762 -464 -27 613 275 -344
Interest Expense		 824 1,039 909 1,032 1,591 1,366 1,971 1,276 1,505 1,862
Interest & Investment Income		 - -49 534 - 829 902 1,944 - 1,780 1,518
Income Tax Expense		 2,111 1,697 2,843 1,098 421 575 964 790 456 1,181
Net Income / (Loss) Discontinued Operations		 3,610 -20 - 4,248 2,217 -367 -33 -19 0.00 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 358 371 368 385 411 224 248 111 185 239
Basic Earnings per Share		 $8.72 $6.18 $5.76 $6.58 $6.48 ($2.59) $2.57 $3.52 $2.24 $3.58
Weighted Average Basic Shares Outstanding		 872.70M 818.20M 790M 800.40M 854.80M 1.36B 1.50B 1.48B 1.43B 1.33B
Diluted Earnings per Share		 $8.61 $6.12 $5.70 $6.50 $6.41 ($2.59) $2.56 $3.50 $2.23 $3.55
Weighted Average Diluted Shares Outstanding		 883.20M 826.10M 799.10M 810.10M 863.90M 1.36B 1.51B 1.49B 1.44B 1.34B
Weighted Average Basic & Diluted Shares Outstanding		 836.43M 818M 790.30M 800.80M 865.31M 1.52B 1.49B 1.46B 1.33B 1.33B
Cash Dividends to Common per Share		 $2.56 $2.62 $2.72 $2.84 $2.94 $2.16 $2.01 $2.16 $2.32 $2.48

Quarterly Income Statements for RTX

This table shows RTX's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 1,387 1,422 1,426 1,327 -984 1,426 1,709 111 1,472 1,482 1,535
Consolidated Net Income / (Loss)		 1,395 1,468 1,481 1,359 -933 1,473 1,743 175 1,535 1,560 1,625
Net Income / (Loss) Continuing Operations		 1,395 1,468 1,481 1,359 -933 1,473 1,743 175 1,535 1,560 1,625
Total Pre-Tax Income 		1,677 1,700 1,816 1,607 -1,322 1,735 1,851 428 1,906 2,009 1,958
Total Operating Income		 1,520 1,551 1,687 1,493 -1,396 1,777 1,870 529 2,028 2,111 2,035
Total Gross Profit		 3,487 3,567 3,569 3,797 714 4,009 3,561 3,580 4,034 4,235 4,116
Total Revenue		 16,951 18,093 17,214 18,315 13,464 19,927 19,305 19,721 20,089 21,623 20,306
Operating Revenue		 16,951 18,093 17,214 18,315 13,464 19,927 19,305 19,721 20,089 21,623 20,306
Total Cost of Revenue		 13,464 14,526 13,645 14,518 12,750 15,918 15,744 16,141 16,055 17,388 16,190
Operating Cost of Revenue		 13,464 14,526 13,645 14,518 12,750 15,918 15,744 16,141 16,055 17,388 16,190
Total Operating Expenses		 1,967 2,016 1,882 2,304 2,110 2,232 1,691 3,051 2,006 2,124 2,081
Selling, General & Admin Expense		 1,351 1,329 1,363 1,600 1,401 1,445 1,394 1,449 1,389 1,574 1,448
Research & Development Expense		 662 716 607 729 712 757 669 706 751 808 637
Other Operating Expenses / (Income)		 -46 -29 -88 -25 -3.00 30 -372 896 -134 -258 -4.00
Total Other Income / (Expense), net		 157 149 129 114 74 -42 -19 -101 -122 -102 -77
Interest & Investment Income		 468 - 444 - 443 - 386 374 374 384 -443
Other Income / (Expense), net		 - - - 447 - - - - - - 366
Income Tax Expense		 282 232 335 248 -389 262 108 253 371 449 333
Net Income / (Loss) Attributable to Noncontrolling Interest		 8.00 46 55 32 51 47 34 64 63 78 90
Basic Earnings per Share		 $0.94 $0.97 $0.98 $0.91 ($0.68) $1.03 $1.29 $0.08 $1.10 $1.11 $1.15
Weighted Average Basic Shares Outstanding		 1.47B 1.48B 1.46B 1.46B 1.44B 1.43B 1.33B 1.33B 1.33B 1.33B 1.34B
Diluted Earnings per Share		 $0.94 $0.96 $0.97 $0.90 ($0.68) $1.04 $1.28 $0.08 $1.09 $1.10 $1.14
Weighted Average Diluted Shares Outstanding		 1.47B 1.49B 1.46B 1.46B 1.44B 1.44B 1.33B 1.33B 1.33B 1.34B 1.34B
Weighted Average Basic & Diluted Shares Outstanding		 1.47B 1.46B 1.46B 1.46B 1.44B 1.33B 1.33B 1.33B 1.33B 1.33B 1.34B
Cash Dividends to Common per Share		 $0.00 - $0.55 $1.18 $0.00 - $0.59 $1.26 $0.00 - $0.63

Annual Cash Flow Statements for RTX

This table details how cash moves in and out of RTX's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 1,630 69 -1,329 -2,806 1,208 1,412 -979 -1,562 335 -1,020
Net Cash From Operating Activities		 6,755 6,412 2,473 2,670 5,821 4,334 7,142 7,168 7,883 7,159
Net Cash From Continuing Operating Activities		 6,755 6,412 5,631 2,670 5,821 4,334 7,142 7,168 7,883 7,159
Net Income / (Loss) Continuing Operations		 4,356 5,436 4,920 1,406 3,731 -2,928 4,145 5,327 3,380 5,013
Consolidated Net Income / (Loss)		 - - 4,920 1,406 3,731 -2,928 4,145 5,327 3,380 5,013
Depreciation Expense		 1,863 1,962 2,140 1,896 2,708 4,156 4,557 4,108 4,211 4,364
Non-Cash Adjustments To Reconcile Net Income		 -77 317 -621 -874 -260 3,163 -2,005 -2,656 -1,883 -1,351
Changes in Operating Assets and Liabilities, net		 613 -1,303 -808 242 -358 -57 445 389 2,175 -867
Net Cash From Investing Activities		 -2,794 -2,509 -3,019 -17,259 -2,676 3,343 -1,364 -2,829 -3,039 -1,534
Net Cash From Continuing Investing Activities		 -2,794 -2,509 -3,019 -17,259 -2,676 3,343 -1,364 -2,829 -3,039 -1,534
Purchase of Property, Plant & Equipment		 -1,652 -1,699 -2,014 -1,467 -1,868 -1,795 -2,134 -2,288 -2,415 -2,625
Acquisitions		 -975 -1,098 -611 -15,439 -360 -731 -1,396 -553 -751 -611
Purchase of Investments		 -364 -438 -1,514 -988 -787 -280 -231 -150 -117 -218
Divestitures		 200 211 70 74 134 5,764 1,879 94 6.00 1,795
Sale and/or Maturity of Investments		 160 249 596 140 342 -32 -16 -205 14 -142
Other Investing Activities, net		 -163 266 454 421 -137 417 534 273 224 267
Net Cash From Financing Activities		 -10,776 -1,188 -993 12,209 -1,913 -3,860 -6,756 -5,859 -4,527 -6,617
Net Cash From Continuing Financing Activities		 -10,776 -1,188 -993 12,209 -1,913 -3,860 -6,756 -5,859 -4,527 -6,617
Repayment of Debt		 -1,477 -3,347 -2,451 -2,890 -1,715 -18,419 -5,303 -447 -10,895 -2,956
Repurchase of Common Equity		 -10,000 -2,254 -1,453 -325 -151 -47 -2,327 -2,803 -12,870 -444
Payment of Dividends		 -2,184 -2,069 -2,074 -2,170 -2,442 -2,732 -2,957 -3,128 -3,239 -3,217
Issuance of Debt		 1,744 6,469 4,954 13,579 -19 2,164 3,902 519 22,477 0.00
Other Net Changes in Cash		 8,619 -2,526 - -420 - -2,383 0.00 -42 - -28
Cash Interest Paid		 1,057 1,157 974 1,027 1,801 1,628 1,339 1,263 1,464 1,942
Cash Income Taxes Paid		 2,060 4,096 1,326 1,714 1,768 1,716 1,124 2,400 1,527 1,176

Quarterly Cash Flow Statements for RTX

This table details how cash moves in and out of RTX's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 603 856 -345 -514 65 1,129 -980 412 673 -1,125 -413
Net Cash From Operating Activities		 778 4,628 -863 719 3,316 4,711 342 2,733 2,523 1,561 1,305
Net Cash From Continuing Operating Activities		 778 4,628 -863 719 3,316 4,711 342 2,733 2,523 1,561 1,305
Net Income / (Loss) Continuing Operations		 1,395 1,468 1,481 1,359 -933 1,473 1,743 175 1,535 1,560 1,625
Consolidated Net Income / (Loss)		 1,395 1,468 1,481 1,359 -933 1,473 1,743 175 1,535 1,560 1,625
Depreciation Expense		 1,047 1,048 1,034 1,044 1,074 1,059 1,059 1,072 1,094 1,139 1,052
Non-Cash Adjustments To Reconcile Net Income		 -2,232 768 -1,486 -510 -12 125 -1,619 -696 -1,217 2,181 -752
Changes in Operating Assets and Liabilities, net		 568 1,344 -1,892 -1,174 3,187 2,054 -841 2,182 1,111 -3,319 -620
Net Cash From Investing Activities		 -755 -938 -579 -623 -859 -978 693 -733 -715 -779 -678
Net Cash From Continuing Investing Activities		 -755 -938 -579 -623 -859 -978 693 -733 -715 -779 -678
Purchase of Property, Plant & Equipment		 -515 -855 -520 -526 -564 -805 -467 -537 -552 -1,069 -513
Acquisitions		 -199 -169 -154 -160 -222 -215 -163 -155 -129 -164 -104
Purchase of Investments		 32 -175 -13 - - - -1.00 -28 - - -47
Divestitures		 6.00 - 0.00 - 6.00 - 1,283 - - 512 0.00
Other Investing Activities, net		 29 207 108 5.00 -16 127 41 -13 -66 305 -14
Net Cash From Financing Activities		 617 -2,849 1,096 -628 -2,377 -2,618 -2,007 -1,584 -1,158 -1,868 -1,056
Net Cash From Continuing Financing Activities		 617 -2,849 1,096 -628 -2,377 -2,618 -2,007 -1,584 -1,158 -1,868 -1,056
Repayment of Debt		 -40 -102 -118 -66 -181 -10,530 -1,160 -782 -29 -985 -166
Repurchase of Common Equity		 -616 -408 -562 -596 -1,429 -10,283 -56 -44 -294 -50 -50
Payment of Dividends		 -794 -791 -790 -844 -838 -767 -769 -823 -823 -802 -840
Effect of Exchange Rate Changes		 - - 1.00 18 -15 14 -8.00 - - - 16

Annual Balance Sheets for RTX

This table presents RTX's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 87,484 89,706 96,920 134,211 139,615 162,153 161,404 158,864 161,869 162,861
Total Current Assets		 26,706 28,550 32,858 35,503 61,577 43,376 42,050 42,443 48,417 51,133
Cash & Equivalents		 7,075 7,157 8,985 6,152 4,937 8,802 7,832 6,220 6,587 5,578
Accounts Receivable		 10,653 11,481 12,595 14,271 8,743 9,254 9,661 9,108 10,838 10,976
Inventories, net		 8,135 8,704 9,881 10,083 9,047 9,411 9,178 10,617 11,777 12,768
Other Current Assets		 843 1,208 1,397 4,997 7,027 15,909 15,379 16,498 19,215 21,811
Plant, Property, & Equipment, net		 8,732 9,158 10,186 12,297 10,322 14,962 14,972 15,170 15,748 16,089
Total Noncurrent Assets		 52,046 51,998 53,876 86,411 67,716 103,815 104,382 101,251 97,704 95,639
Noncurrent Note & Lease Receivables		 1,018 1,398 2,372 3,023 3,463 5,024 4,806 2,603 4,030 4,110
Goodwill		 27,301 27,059 27,910 48,112 36,609 54,285 54,436 53,840 53,699 52,789
Intangible Assets		 15,603 15,684 15,883 26,424 24,473 40,539 38,516 36,823 35,399 33,443
Other Noncurrent Operating Assets		 6,163 6,048 5,988 7,206 3,171 3,967 6,624 7,985 4,576 5,297
Total Liabilities & Shareholders' Equity		 87,484 89,706 96,920 134,211 139,615 162,153 161,404 158,864 161,869 162,861
Total Liabilities		 58,518 60,241 65,368 93,492 95,289 88,269 86,705 84,650 100,424 100,903
Total Current Liabilities		 22,618 21,906 24,391 31,368 46,594 35,848 35,449 39,114 46,761 51,499
Short-Term Debt		 1,105 2,204 2,496 4,345 5,551 797 158 1,220 1,472 2,535
Accounts Payable		 6,875 7,483 9,579 11,080 7,816 8,639 8,751 9,896 10,698 12,897
Accrued Expenses		 14,638 12,219 12,316 10,223 8,417 10,517 10,162 10,999 14,917 14,831
Current Employee Benefit Liabilities		 - - - - 1,353 3,006 2,658 2,401 2,491 2,620
Other Current Liabilities		 - - 0.00 5,720 9,014 12,889 13,720 14,598 17,183 18,616
Total Noncurrent Liabilities		 35,900 38,335 40,977 62,124 48,695 52,421 51,256 45,536 53,663 49,404
Long-Term Debt		 19,320 21,697 24,989 41,192 37,701 31,026 31,327 30,694 42,355 38,726
Noncurrent Employee Benefit Liabilities		 6,022 5,612 3,036 4,018 2,487 10,342 7,855 4,807 2,385 2,104
Other Noncurrent Operating Liabilities		 10,558 11,026 12,952 11,845 8,507 11,053 12,074 10,035 8,923 8,574
Commitments & Contingencies		 0.00 0.00 - - 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 122 296 131 109 95 32 35 36 35 35
Total Equity & Noncontrolling Interests		 28,844 29,169 31,421 40,610 44,231 73,852 74,664 74,178 61,410 61,923
Total Preferred & Common Equity		 27,358 27,579 29,610 38,446 41,774 72,163 73,068 72,632 59,798 60,156
Preferred Stock		 0.00 0.00 0.00 0.00 0.25 0.00 0.00 250 0.00 0.00
Total Common Equity		 27,358 27,579 29,610 38,446 41,774 72,163 73,068 72,877 59,798 60,156
Common Stock		 16,033 17,285 17,574 22,514 23,019 36,930 37,483 37,939 37,055 37,434
Retained Earnings		 49,956 52,873 55,242 57,823 61,594 49,423 50,265 52,269 52,154 53,589
Treasury Stock		 -30,907 -34,150 -35,596 -32,482 -32,626 -10,407 -12,727 -15,285 -26,977 -27,112
Accumulated Other Comprehensive Income / (Loss)		 -7,619 -8,334 -7,525 -9,333 -10,149 -3,734 -1,915 -2,018 -2,419 -3,755
Other Equity Adjustments		 -105 -95 -85 -76 -64 -49 -38 -28 -15 0.00
Noncontrolling Interest		 1,486 1,590 1,811 2,164 2,457 1,689 1,596 1,546 1,612 1,767

Quarterly Balance Sheets for RTX

This table presents RTX's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Total Assets		 158,225 158,864 161,636 162,161 162,443 161,869 160,187 161,169 164,822 162,861 164,864
Total Current Assets		 41,821 42,443 45,504 45,915 46,518 48,417 48,023 49,225 51,764 51,133 52,916
Cash & Equivalents		 5,381 6,220 5,893 5,391 5,456 6,587 5,607 6,011 6,682 5,578 5,157
Accounts Receivable		 9,233 9,108 10,069 9,903 10,058 10,838 10,280 10,252 10,097 10,976 11,426
Inventories, net		 10,443 10,617 11,327 11,997 12,050 11,777 12,386 13,047 13,465 12,768 13,618
Other Current Assets		 16,764 16,498 18,215 18,624 18,954 19,215 19,750 19,915 21,520 21,811 22,715
Plant, Property, & Equipment, net		 14,668 15,170 15,149 15,295 15,347 15,748 15,638 15,693 15,886 16,089 16,135
Plant, Property & Equipment, gross		 28,201 - 29,536 30,175 30,554 - 31,623 32,062 32,711 - 33,348
Accumulated Depreciation		 13,533 - 14,387 14,880 15,207 - 15,985 16,369 16,825 - 17,213
Total Noncurrent Assets		 101,736 101,251 100,983 100,951 100,578 97,704 96,526 96,251 97,172 95,639 95,813
Noncurrent Note & Lease Receivables		 2,618 2,603 2,543 2,457 4,207 4,030 3,998 3,984 2,306 4,110 4,034
Goodwill		 53,168 53,840 53,904 54,122 53,883 53,699 53,644 53,347 53,759 52,789 53,045
Intangible Assets		 37,046 36,823 36,477 36,234 35,865 35,399 34,960 34,503 34,159 33,443 33,116
Other Noncurrent Operating Assets		 8,904 7,985 8,059 8,138 6,623 4,576 3,924 4,417 6,948 5,297 5,618
Total Liabilities & Shareholders' Equity		 158,225 158,864 161,636 162,161 162,443 161,869 160,187 161,169 164,822 162,861 164,864
Total Liabilities		 86,457 84,650 87,251 88,074 91,197 100,424 98,050 100,488 101,963 100,903 101,520
Total Current Liabilities		 38,373 39,114 40,128 41,760 45,002 46,761 45,019 49,565 52,247 51,499 52,624
Short-Term Debt		 2,388 1,220 1,769 2,630 2,559 1,472 510 1,848 3,333 2,535 3,056
Accounts Payable		 9,017 9,896 10,060 10,128 10,315 10,698 10,522 10,939 11,834 12,897 13,444
Accrued Expenses		 11,210 10,999 11,573 11,719 14,283 14,917 15,006 17,048 15,971 14,831 15,219
Current Employee Benefit Liabilities		 2,390 2,401 1,856 2,121 2,597 2,491 1,862 2,065 2,673 2,620 1,867
Other Current Liabilities		 13,368 14,598 14,870 15,162 15,248 17,183 17,119 17,665 - 18,616 19,038
Total Noncurrent Liabilities		 48,084 45,536 47,123 46,314 46,195 53,663 53,031 50,923 49,716 49,404 48,896
Long-Term Debt		 31,059 30,694 32,717 32,723 32,701 42,355 42,334 40,303 38,823 38,726 38,244
Noncurrent Employee Benefit Liabilities		 7,362 4,807 4,676 4,579 4,457 2,385 2,320 2,264 2,230 2,104 2,060
Other Noncurrent Operating Liabilities		 9,663 10,035 9,730 9,012 9,037 8,923 8,377 8,356 8,663 8,574 8,592
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 33 36 38 31 33 35 37 31 33 35 37
Total Equity & Noncontrolling Interests		 71,735 74,178 74,347 74,056 71,213 61,410 62,100 60,650 62,826 61,923 63,307
Total Preferred & Common Equity		 70,187 72,632 72,795 72,480 69,596 59,798 60,485 58,985 61,114 60,156 61,516
Total Common Equity		 70,187 72,877 72,795 72,480 69,596 59,798 60,485 58,985 61,114 60,156 61,516
Common Stock		 37,829 37,939 38,031 38,228 38,388 37,055 37,108 37,302 37,276 37,434 37,515
Retained Earnings		 51,652 52,269 52,891 52,489 51,513 52,154 53,052 51,488 52,948 53,589 54,277
Treasury Stock		 -15,141 -15,285 -16,112 -16,713 -18,170 -26,977 -27,029 -27,080 -27,141 -27,112 -27,069
Accumulated Other Comprehensive Income / (Loss)		 -4,122 -2,018 -1,989 -1,502 -2,116 -2,419 -2,635 -2,718 -1,969 -3,755 -3,207
Noncontrolling Interest		 1,548 1,546 1,552 1,576 1,617 1,612 1,615 1,665 1,712 1,767 1,791

Annual Metrics And Ratios for RTX

This table displays calculated financial ratios and metrics derived from RTX's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -3.11% 2.04% 4.53% -42.01% 30.69% 24.78% 13.79% 4.17% 2.75% 17.15%
EBITDA Growth		 -19.79% 11.24% 0.93% -47.15% 40.32% -70.26% 327.57% 18.65% -32.42% 40.27%
EBIT Growth		 -24.00% 12.76% -1.01% -56.55% 38.97% -138.44% 371.89% 43.94% -51.83% 83.60%
NOPAT Growth		 -31.05% 27.57% -17.68% -68.68% 173.35% -129.95% 415.13% 15.03% -34.54% 68.64%
Net Income Growth		 20.28% -32.01% -9.16% 14.92% 5.20% -155.40% 224.80% 29.09% -36.32% 48.31%
EPS Growth		 26.25% -28.92% -6.86% 14.92% 5.20% -140.41% 198.84% 36.72% -36.29% 59.19%
Operating Cash Flow Growth		 -3.21% -5.08% -61.43% 7.97% 118.02% -25.55% 64.79% 0.36% 9.97% -9.18%
Free Cash Flow Firm Growth		 -30.05% -69.13% -44.58% -2,263.03% 167.73% -271.18% 108.25% 19.02% 34.71% 45.28%
Invested Capital Growth		 -6.15% 9.20% 8.32% 60.04% -18.53% 48.49% 1.49% 1.58% -1.22% -1.06%
Revenue Q/Q Growth		 5.55% 0.63% 1.74% -45.90% 66.05% 27.30% 0.98% 1.59% 2.73% 2.15%
EBITDA Q/Q Growth		 -18.96% 15.15% 1.60% -49.54% 134.67% 32.50% 16.14% 19.12% 3.15% 3.95%
EBIT Q/Q Growth		 -22.66% 18.71% 1.37% -58.10% 348.36% 4.50% 35.87% 35.63% 6.78% 5.38%
NOPAT Q/Q Growth		 -26.47% 32.28% -15.26% -70.63% 624.84% 4.50% 25.96% 3.73% 5.96% 2.50%
Net Income Q/Q Growth		 28.75% -29.47% -10.97% 5.84% 10.78% -52.19% 14.64% 15.09% 0.15% 1.77%
EPS Q/Q Growth		 33.08% -28.92% -11.90% 5.84% 10.78% -56.97% 15.84% 15.51% 3.72% 1.72%
Operating Cash Flow Q/Q Growth		 12.56% -11.90% -50.09% -27.45% 104.32% 1.05% 33.47% 25.73% 1.06% -30.56%
Free Cash Flow Firm Q/Q Growth		 -26.06% -51.37% -29.56% -663.84% 168.13% -133.02% 665.56% 111.90% 149.86% -19.59%
Invested Capital Q/Q Growth		 -9.54% -0.92% -1.58% 56.11% -18.62% 4.25% 1.67% 0.07% -2.34% -0.70%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 27.93% 27.55% 26.13% 20.85% 23.71% 15.08% 19.40% 20.38% 17.54% 19.09%
EBITDA Margin		 16.32% 17.79% 17.18% 15.65% 16.81% 4.01% 15.05% 17.15% 11.28% 13.50%
Operating Margin		 13.00% 14.36% 13.60% 8.29% 10.84% -3.34% 7.98% 8.21% 5.17% 8.10%
EBIT Margin		 13.00% 14.36% 13.60% 10.19% 10.84% -3.34% 7.98% 11.02% 5.17% 8.10%
Profit (Net Income) Margin		 14.20% 9.46% 8.22% 16.29% 13.12% -5.82% 6.39% 7.91% 4.90% 6.21%
Tax Burden Percent		 123.18% 75.93% 63.38% 225.80% 143.26% 140.03% 80.49% 86.77% 88.11% 80.93%
Interest Burden Percent		 88.70% 86.77% 95.39% 70.81% 84.49% 124.56% 99.47% 82.74% 107.72% 94.74%
Effective Tax Rate		 32.64% 23.79% 36.62% 43.85% 10.14% 0.00% 18.87% 12.91% 11.89% 19.07%
Return on Invested Capital (ROIC)		 11.24% 14.15% 10.72% 2.48% 6.08% -1.63% 4.27% 4.84% 3.16% 5.39%
ROIC Less NNEP Spread (ROIC-NNEP)		 34.98% 8.51% 9.37% 16.44% 11.16% -10.61% 4.03% 6.92% 3.93% 4.63%
Return on Net Nonoperating Assets (RNNOA)		 14.60% 4.38% 5.41% 13.16% 7.91% -3.94% 1.27% 2.29% 1.82% 2.73%
Return on Equity (ROE)		 25.83% 18.54% 16.13% 15.65% 13.99% -5.57% 5.54% 7.13% 4.98% 8.12%
Cash Return on Invested Capital (CROIC)		 17.58% 5.36% 2.73% -43.70% 26.50% -40.66% 2.79% 3.27% 4.39% 6.45%
Operating Return on Assets (OROA)		 8.16% 9.28% 8.72% 3.06% 3.59% -1.25% 3.17% 4.62% 2.22% 4.03%
Return on Assets (ROA)		 8.92% 6.11% 5.27% 4.89% 4.34% -2.18% 2.54% 3.31% 2.11% 3.09%
Return on Common Equity (ROCE)		 24.54% 17.43% 15.11% 14.73% 13.19% -5.37% 5.41% 6.99% 4.87% 7.90%
Return on Equity Simple (ROE_SIMPLE)		 29.12% 19.64% 16.62% 14.71% 14.24% -4.57% 5.63% 7.31% 5.65% 8.33%
Net Operating Profit after Tax (NOPAT)		 4,911 6,265 5,158 1,615 4,416 -1,322 4,167 4,793 3,138 5,291
NOPAT Margin		 8.75% 10.94% 8.62% 4.66% 9.74% -2.34% 6.47% 7.15% 4.55% 6.55%
Net Nonoperating Expense Percent (NNEP)		 -23.74% 5.64% 1.35% -13.95% -5.08% 8.98% 0.24% -2.09% -0.77% 0.76%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 4.52% 2.98% 5.13%
Cost of Revenue to Revenue		 72.07% 72.45% 73.87% 79.15% 76.29% 84.92% 80.60% 79.62% 82.46% 80.91%
SG&A Expenses to Revenue		 10.87% 10.41% 10.74% 8.25% 8.18% 9.79% 7.84% 8.31% 8.43% 7.19%
R&D to Revenue		 4.06% 4.15% 4.06% 5.41% 5.41% 4.56% 4.24% 4.04% 4.07% 3.63%
Operating Expenses to Revenue		 14.93% 13.19% 12.53% 12.56% 12.87% 18.41% 11.42% 12.17% 12.37% 10.99%
Earnings before Interest and Taxes (EBIT)		 7,291 8,221 8,138 3,536 4,914 -1,889 5,136 7,393 3,561 6,538
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 9,154 10,183 10,278 5,432 7,622 2,267 9,693 11,501 7,772 10,902
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 2.52 2.71 2.92 1.93 2.75 1.37 1.65 1.94 1.98 2.56
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 1.23 1.31 1.45 2.13 2.53 1.75 1.87 2.11 1.72 1.91
Price to Earnings (P/E)		 9.05 14.81 19.00 14.05 20.73 0.00 31.18 27.18 37.00 32.26
Dividend Yield		 3.30% 2.88% 2.51% 3.07% 2.21% 2.84% 2.49% 2.25% 2.82% 2.14%
Earnings Yield		 11.05% 6.75% 5.26% 7.12% 4.82% 0.00% 3.21% 3.68% 2.70% 3.10%
Enterprise Value to Invested Capital (EV/IC)		 1.98 2.02 2.14 1.44 2.38 1.28 1.48 1.69 1.59 1.96
Enterprise Value to Revenue (EV/Rev)		 1.49 1.63 1.79 3.33 3.43 2.19 2.26 2.52 2.28 2.37
Enterprise Value to EBITDA (EV/EBITDA)		 9.15 9.18 10.40 21.30 20.42 54.66 15.04 14.67 20.21 17.57
Enterprise Value to EBIT (EV/EBIT)		 11.49 11.37 13.14 32.72 31.67 0.00 28.38 22.83 44.12 29.29
Enterprise Value to NOPAT (EV/NOPAT)		 17.06 14.92 20.73 71.62 35.24 0.00 34.98 35.21 50.07 36.19
Enterprise Value to Operating Cash Flow (EV/OCF)		 12.41 14.58 43.24 43.33 26.74 28.59 20.41 23.55 19.93 26.75
Enterprise Value to Free Cash Flow (EV/FCFF)		 10.91 39.41 81.34 0.00 8.08 0.00 53.59 52.14 36.03 30.23
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.71 0.81 0.87 1.12 0.98 0.43 0.42 0.43 0.71 0.67
Long-Term Debt to Equity		 0.67 0.74 0.79 1.01 0.85 0.42 0.42 0.41 0.69 0.63
Financial Leverage		 0.42 0.52 0.58 0.80 0.71 0.37 0.31 0.33 0.46 0.59
Leverage Ratio		 2.90 3.03 3.06 3.20 3.22 2.55 2.18 2.15 2.36 2.63
Compound Leverage Factor		 2.57 2.63 2.92 2.26 2.72 3.18 2.17 1.78 2.55 2.49
Debt to Total Capital		 41.35% 44.79% 46.56% 52.79% 49.39% 30.10% 29.65% 30.07% 41.63% 39.97%
Short-Term Debt to Total Capital		 2.24% 4.13% 4.23% 5.04% 6.34% 0.75% 0.15% 1.15% 1.40% 2.46%
Long-Term Debt to Total Capital		 39.12% 40.66% 42.33% 47.76% 43.05% 29.35% 29.50% 28.92% 40.23% 37.52%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.24% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 3.26% 3.53% 3.29% 2.64% 2.91% 1.63% 1.54% 1.49% 1.56% 1.75%
Common Equity to Total Capital		 55.39% 51.68% 50.16% 44.57% 47.70% 68.27% 68.81% 68.67% 56.80% 58.28%
Debt to EBITDA		 2.23 2.35 2.67 8.38 5.67 14.04 3.25 2.77 5.64 3.78
Net Debt to EBITDA		 1.46 1.64 1.80 7.25 5.03 10.15 2.44 2.23 4.79 3.27
Long-Term Debt to EBITDA		 2.11 2.13 2.43 7.58 4.95 13.69 3.23 2.67 5.45 3.55
Debt to NOPAT		 4.16 3.81 5.33 28.19 9.80 -24.07 7.56 6.66 13.97 7.80
Net Debt to NOPAT		 2.72 2.67 3.59 24.38 8.68 -17.41 5.68 5.36 11.87 6.74
Long-Term Debt to NOPAT		 3.93 3.46 4.85 25.50 8.54 -23.46 7.52 6.40 13.50 7.32
Altman Z-Score		 2.48 2.60 2.59 1.46 1.91 1.47 1.82 2.06 1.67 2.00
Noncontrolling Interest Sharing Ratio		 5.03% 5.98% 6.27% 5.83% 5.67% 3.61% 2.26% 1.99% 2.20% 2.79%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 1.18 1.30 1.35 1.13 1.32 1.21 1.19 1.09 1.04 0.99
Quick Ratio		 0.78 0.85 0.88 0.65 0.29 0.50 0.49 0.39 0.37 0.32
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 7,684 2,372 1,315 -28,437 19,259 -32,966 2,720 3,237 4,361 6,335
Operating Cash Flow to CapEx		 408.90% 377.40% 122.79% 182.00% 311.62% 241.45% 334.68% 313.29% 326.42% 272.72%
Free Cash Flow to Firm to Interest Expense		 9.33 2.28 1.45 -27.55 12.10 -24.13 1.38 2.54 2.90 3.40
Operating Cash Flow to Interest Expense		 8.20 6.17 2.72 2.59 3.66 3.17 3.62 5.62 5.24 3.84
Operating Cash Flow Less CapEx to Interest Expense		 6.19 4.54 0.51 1.17 2.48 1.86 2.54 3.82 3.63 2.44
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.63 0.65 0.64 0.30 0.33 0.38 0.40 0.42 0.43 0.50
Accounts Receivable Turnover		 5.32 5.17 4.97 2.58 3.94 6.29 6.81 7.15 6.91 7.40
Inventory Turnover		 5.13 4.93 4.76 2.75 3.62 5.21 5.58 5.40 5.08 5.32
Fixed Asset Turnover		 6.48 6.40 6.19 3.09 4.01 4.48 4.30 4.45 4.46 5.07
Accounts Payable Turnover		 6.16 5.78 5.18 2.66 3.66 5.84 5.97 5.73 5.52 5.54
Days Sales Outstanding (DSO)		 68.65 70.57 73.43 141.29 92.62 58.04 53.61 51.07 52.82 49.31
Days Inventory Outstanding (DIO)		 71.22 74.10 76.74 132.66 100.91 70.10 65.37 67.64 71.91 68.57
Days Payable Outstanding (DPO)		 59.24 63.18 70.45 137.28 99.67 62.49 61.15 63.72 66.13 65.91
Cash Conversion Cycle (CCC)		 80.62 81.48 79.72 136.68 93.85 65.65 57.83 54.99 58.60 51.96
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 42,316 46,209 50,052 80,104 65,261 96,905 98,352 99,908 98,685 97,641
Invested Capital Turnover		 1.28 1.29 1.24 0.53 0.62 0.70 0.66 0.68 0.69 0.82
Increase / (Decrease) in Invested Capital		 -2,773 3,893 3,843 30,052 -14,843 31,644 1,447 1,556 -1,223 -1,044
Enterprise Value (EV)		 83,801 93,489 106,933 115,695 155,628 123,905 145,753 168,773 157,096 191,510
Market Capitalization		 68,843 74,859 86,491 74,037 114,761 99,163 120,469 141,247 118,209 154,025
Book Value per Share		 $30.84 $33.49 $37.08 $48.00 $48.39 $47.52 $48.82 $49.57 $41.59 $45.20
Tangible Book Value per Share		 ($17.53) ($18.42) ($17.76) ($45.06) ($22.37) ($14.92) ($13.28) ($12.10) ($20.38) ($19.59)
Total Capital		 49,391 53,366 59,037 86,256 87,578 105,707 106,184 106,128 105,272 103,219
Total Debt		 20,425 23,901 27,485 45,537 43,252 31,823 31,485 31,914 43,827 41,261
Total Long-Term Debt		 19,320 21,697 24,989 41,192 37,701 31,026 31,327 30,694 42,355 38,726
Net Debt		 13,350 16,744 18,500 39,385 38,315 23,021 23,653 25,694 37,240 35,683
Capital Expenditures (CapEx)		 1,652 1,699 2,014 1,467 1,868 1,795 2,134 2,288 2,415 2,625
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1,882 1,691 1,978 2,328 15,597 -477 -1,073 -1,671 -3,459 -3,409
Debt-free Net Working Capital (DFNWC)		 5,193 8,848 10,963 8,480 20,534 8,325 6,759 4,549 3,128 2,169
Net Working Capital (NWC)		 4,088 6,644 8,467 4,135 14,983 7,528 6,601 3,329 1,656 -366
Net Nonoperating Expense (NNE)		 -3,055 849 238 -4,039 -1,532 1,973 55 -515 -242 278
Net Nonoperating Obligations (NNO)		 13,350 16,744 18,500 39,385 20,935 23,021 23,653 25,694 37,240 35,683
Total Depreciation and Amortization (D&A)		 1,863 1,962 2,140 1,896 2,708 4,156 4,557 4,108 4,211 4,364
Debt-free, Cash-free Net Working Capital to Revenue		 -3.35% 2.95% 3.31% 6.71% 34.39% -0.84% -1.67% -2.49% -5.02% -4.22%
Debt-free Net Working Capital to Revenue		 9.26% 15.46% 18.32% 24.44% 45.28% 14.71% 10.50% 6.78% 4.54% 2.69%
Net Working Capital to Revenue		 7.29% 11.61% 14.15% 11.92% 33.04% 13.30% 10.25% 4.96% 2.40% -0.45%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $5.11 $3.62 $3.37 $3.85 $3.80 ($2.59) $2.57 $3.52 $2.24 $3.58
Adjusted Weighted Average Basic Shares Outstanding		 1.49B 1.40B 1.35B 1.37B 1.46B 1.36B 1.50B 1.48B 1.43B 1.33B
Adjusted Diluted Earnings per Share		 $5.04 $3.59 $3.34 $3.81 $3.76 ($2.59) $2.56 $3.50 $2.23 $3.55
Adjusted Weighted Average Diluted Shares Outstanding		 1.51B 1.41B 1.36B 1.38B 1.47B 1.36B 1.51B 1.49B 1.44B 1.34B
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $3.80 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.43B 1.38B 1.37B 1.47B 1.48B 1.52B 1.49B 1.46B 1.33B 1.33B
Normalized Net Operating Profit after Tax (NOPAT)		 4,911 6,265 5,158 1,615 4,416 906 4,167 4,793 3,138 5,291
Normalized NOPAT Margin		 8.75% 10.94% 8.62% 4.66% 9.74% 1.60% 6.47% 7.15% 4.55% 6.55%
Pre Tax Income Margin		 11.53% 12.46% 12.97% 7.22% 9.16% -4.16% 7.93% 9.12% 5.57% 7.67%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 8.85 7.91 8.95 3.43 3.09 -1.38 2.61 5.79 2.37 3.51
NOPAT to Interest Expense		 5.96 6.03 5.67 1.57 2.78 -0.97 2.11 3.76 2.08 2.84
EBIT Less CapEx to Interest Expense		 6.84 6.28 6.74 2.00 1.91 -2.70 1.52 4.00 0.76 2.10
NOPAT Less CapEx to Interest Expense		 3.96 4.39 3.46 0.14 1.60 -2.28 1.03 1.96 0.48 1.43
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 27.42% 38.20% 42.15% 38.38% 41.06% -82.91% 71.91% 58.93% 95.83% 64.17%
Augmented Payout Ratio		 152.95% 79.82% 71.69% 44.13% 43.59% -84.34% 128.50% 111.74% 476.60% 73.03%

Quarterly Metrics And Ratios for RTX

This table displays calculated financial ratios and metrics derived from RTX's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 4.55% 6.15% 9.53% 12.27% -20.57% 10.14% 12.15% 7.68% 49.21% 8.51% 5.19%
EBITDA Growth		 2.64% -1.63% 29.94% 26.87% -112.54% 9.12% 7.64% -46.35% 1,069.57% 14.60% 4.16%
EBIT Growth		 13.18% 3.54% 56.20% 43.39% -191.84% 14.57% 10.85% -72.73% 245.27% 18.80% 6.43%
NOPAT Growth		 -5.66% 21.18% 40.51% 4.48% -177.29% 12.64% 27.99% -82.87% 267.14% 8.65% -4.09%
Net Income Growth		 -4.84% 90.16% 33.79% 1.57% -166.88% 0.34% 17.69% -87.12% 264.52% 5.91% -6.77%
EPS Growth		 1.08% 108.70% 34.72% 2.27% -172.34% 8.33% 31.96% -91.11% 260.29% 5.77% -10.94%
Operating Cash Flow Growth		 -59.73% 46.41% -281.30% -44.09% 326.22% 1.79% 139.63% 280.11% -23.91% -66.86% 281.58%
Free Cash Flow Firm Growth		 25.32% 36.61% 1.18% -220.40% -19.94% 1,360.77% 349.74% 281.02% 298.35% -1.77% -70.63%
Invested Capital Growth		 3.20% 1.58% 3.54% 5.45% 1.22% -1.22% -3.50% -6.95% -2.69% -1.06% 0.11%
Revenue Q/Q Growth		 3.90% 6.74% -4.86% 6.40% -26.49% 48.00% -3.12% 2.15% 1.87% 7.64% -6.09%
EBITDA Q/Q Growth		 9.14% 1.25% 4.69% 9.67% -110.79% 980.75% 3.28% -45.34% 95.00% 4.10% 6.25%
EBIT Q/Q Growth		 12.34% 2.04% 8.77% 15.00% -171.96% 227.29% 5.23% -71.71% 283.36% 4.09% 13.74%
NOPAT Q/Q Growth		 4.63% 5.93% 2.72% -8.23% -177.40% 254.39% 16.72% -87.72% 655.10% 0.36% 3.03%
Net Income Q/Q Growth		 4.26% 5.23% 0.89% -8.24% -168.65% 257.88% 18.33% -89.96% 777.14% 1.63% 4.17%
EPS Q/Q Growth		 6.82% 2.13% 1.04% -7.22% -175.56% 252.94% 23.08% -93.75% 1,262.50% 0.92% 3.64%
Operating Cash Flow Q/Q Growth		 -39.50% 494.86% -118.65% 183.31% 361.20% 42.07% -92.74% 699.12% -7.68% -38.13% -16.40%
Free Cash Flow Firm Q/Q Growth		 -42.47% 88.15% -891.48% -91.43% 46.67% 224.55% 96.40% 38.76% -41.56% -38.32% -41.27%
Invested Capital Q/Q Growth		 1.18% 0.07% 3.07% 1.04% -2.88% -2.34% 0.70% -2.57% 1.56% -0.70% 1.89%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 20.57% 19.71% 20.73% 20.73% 5.30% 20.12% 18.45% 18.15% 20.08% 19.59% 20.27%
EBITDA Margin		 15.14% 14.36% 15.81% 16.29% -2.39% 14.23% 15.17% 8.12% 15.54% 15.03% 17.00%
Operating Margin		 8.97% 8.57% 9.80% 8.15% -10.37% 8.92% 9.69% 2.68% 10.10% 9.76% 10.02%
EBIT Margin		 8.97% 8.57% 9.80% 10.59% -10.37% 8.92% 9.69% 2.68% 10.10% 9.76% 11.82%
Profit (Net Income) Margin		 8.23% 8.11% 8.60% 7.42% -6.93% 7.39% 9.03% 0.89% 7.64% 7.21% 8.00%
Tax Burden Percent		 83.18% 86.35% 81.55% 84.57% 70.57% 84.90% 94.17% 40.89% 80.54% 77.65% 82.99%
Interest Burden Percent		 110.33% 109.61% 107.65% 82.84% 94.70% 97.64% 98.98% 80.91% 93.98% 95.17% 81.55%
Effective Tax Rate		 16.82% 13.65% 18.45% 15.43% 0.00% 15.10% 5.83% 59.11% 19.46% 22.35% 17.01%
Return on Invested Capital (ROIC)		 5.01% 5.01% 5.41% 4.80% -4.85% 5.25% 6.40% 0.79% 6.45% 6.24% 6.84%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.51% 5.53% 5.80% 5.14% -4.69% 5.14% 6.35% 0.67% 6.15% 6.02% 6.66%
Return on Net Nonoperating Assets (RNNOA)		 1.98% 1.83% 2.11% 1.99% -1.90% 2.39% 3.06% 0.33% 2.99% 3.56% 3.90%
Return on Equity (ROE)		 6.99% 6.84% 7.53% 6.79% -6.75% 7.64% 9.46% 1.12% 9.44% 9.79% 10.73%
Cash Return on Invested Capital (CROIC)		 1.55% 3.27% 1.65% -0.13% 1.74% 4.39% 7.04% 9.72% 7.90% 6.45% 5.12%
Operating Return on Assets (OROA)		 3.74% 3.59% 4.19% 4.66% -4.34% 3.83% 4.27% 1.20% 4.88% 4.85% 5.95%
Return on Assets (ROA)		 3.43% 3.40% 3.68% 3.26% -2.90% 3.18% 3.98% 0.40% 3.69% 3.59% 4.02%
Return on Common Equity (ROCE)		 6.83% 6.71% 7.37% 6.64% -6.59% 7.47% 9.24% 1.09% 9.20% 9.52% 10.44%
Return on Equity Simple (ROE_SIMPLE)		 6.57% 0.00% 7.81% 7.87% 4.85% 0.00% 6.02% 4.17% 8.06% 0.00% 7.96%
Net Operating Profit after Tax (NOPAT)		 1,264 1,339 1,376 1,263 -977 1,509 1,761 216 1,633 1,639 1,689
NOPAT Margin		 7.46% 7.40% 7.99% 6.89% -7.26% 7.57% 9.12% 1.10% 8.13% 7.58% 8.32%
Net Nonoperating Expense Percent (NNEP)		 -0.50% -0.52% -0.39% -0.34% -0.15% 0.11% 0.05% 0.12% 0.30% 0.22% 0.17%
Return On Investment Capital (ROIC_SIMPLE)		 - 1.26% - - - 1.43% - - - 1.59% 1.61%
Cost of Revenue to Revenue		 79.43% 80.29% 79.27% 79.27% 94.70% 79.88% 81.55% 81.85% 79.92% 80.41% 79.73%
SG&A Expenses to Revenue		 7.97% 7.35% 7.92% 8.74% 10.41% 7.25% 7.22% 7.35% 6.91% 7.28% 7.13%
R&D to Revenue		 3.91% 3.96% 3.53% 3.98% 5.29% 3.80% 3.47% 3.58% 3.74% 3.74% 3.14%
Operating Expenses to Revenue		 11.60% 11.14% 10.93% 12.58% 15.67% 11.20% 8.76% 15.47% 9.99% 9.82% 10.25%
Earnings before Interest and Taxes (EBIT)		 1,520 1,551 1,687 1,940 -1,396 1,777 1,870 529 2,028 2,111 2,401
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,567 2,599 2,721 2,984 -322 2,836 2,929 1,601 3,122 3,250 3,453
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.64 1.94 1.90 1.91 1.47 1.98 2.29 2.25 2.64 2.56 2.87
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 1.74 2.11 2.01 1.96 1.52 1.72 1.95 1.83 2.04 1.91 2.16
Price to Earnings (P/E)		 25.78 27.18 24.93 24.92 32.01 37.00 39.87 58.69 34.16 32.26 38.36
Dividend Yield		 2.72% 2.25% 2.33% 2.36% 3.25% 2.82% 2.45% 2.40% 2.01% 2.14% 1.90%
Earnings Yield		 3.88% 3.68% 4.01% 4.01% 3.12% 2.70% 2.51% 1.70% 2.93% 3.10% 2.61%
Enterprise Value to Invested Capital (EV/IC)		 1.45 1.69 1.63 1.64 1.32 1.59 1.79 1.76 2.02 1.96 2.16
Enterprise Value to Revenue (EV/Rev)		 2.19 2.52 2.45 2.41 1.99 2.28 2.50 2.36 2.51 2.37 2.62
Enterprise Value to EBITDA (EV/EBITDA)		 14.98 14.67 16.43 16.32 17.73 20.21 22.25 24.22 18.92 17.57 19.39
Enterprise Value to EBIT (EV/EBIT)		 26.54 22.83 27.53 27.22 40.06 44.12 47.42 61.37 31.98 29.29 31.99
Enterprise Value to NOPAT (EV/NOPAT)		 31.31 35.21 32.42 32.46 45.12 50.07 50.40 67.21 38.43 36.19 41.18
Enterprise Value to Operating Cash Flow (EV/OCF)		 25.37 23.55 28.86 32.34 17.13 19.93 19.54 15.37 19.24 26.75 26.40
Enterprise Value to Free Cash Flow (EV/FCFF)		 94.69 52.14 101.02 0.00 76.55 36.03 24.91 17.47 25.18 30.23 42.09
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.47 0.43 0.46 0.48 0.49 0.71 0.69 0.69 0.67 0.67 0.65
Long-Term Debt to Equity		 0.43 0.41 0.44 0.44 0.46 0.69 0.68 0.66 0.62 0.63 0.60
Financial Leverage		 0.36 0.33 0.36 0.39 0.40 0.46 0.48 0.49 0.49 0.59 0.58
Leverage Ratio		 2.19 2.15 2.16 2.20 2.24 2.36 2.36 2.40 2.44 2.63 2.59
Compound Leverage Factor		 2.42 2.36 2.33 1.82 2.12 2.31 2.33 1.94 2.29 2.50 2.11
Debt to Total Capital		 31.79% 30.07% 31.68% 32.30% 33.11% 41.63% 40.81% 40.99% 40.14% 39.97% 39.47%
Short-Term Debt to Total Capital		 2.27% 1.15% 1.62% 2.40% 2.40% 1.40% 0.49% 1.80% 3.17% 2.46% 2.92%
Long-Term Debt to Total Capital		 29.52% 28.92% 30.05% 29.90% 30.70% 40.23% 40.33% 39.19% 36.97% 37.52% 36.55%
Preferred Equity to Total Capital		 0.00% 0.24% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.50% 1.49% 1.46% 1.47% 1.55% 1.56% 1.57% 1.65% 1.66% 1.75% 1.75%
Common Equity to Total Capital		 66.71% 68.67% 66.86% 66.23% 65.34% 56.80% 57.62% 57.36% 58.20% 58.28% 58.79%
Debt to EBITDA		 3.46 2.77 3.37 3.39 4.68 5.64 5.37 5.98 4.02 3.78 3.73
Net Debt to EBITDA		 2.91 2.23 2.79 2.87 3.96 4.79 4.67 5.13 3.38 3.27 3.27
Long-Term Debt to EBITDA		 3.22 2.67 3.20 3.14 4.34 5.45 5.31 5.72 3.70 3.55 3.46
Debt to NOPAT		 7.24 6.66 6.65 6.74 11.91 13.97 12.16 16.61 8.17 7.80 7.93
Net Debt to NOPAT		 6.07 5.36 5.51 5.72 10.06 11.87 10.57 14.24 6.87 6.74 6.94
Long-Term Debt to NOPAT		 6.72 6.40 6.30 6.24 11.04 13.50 12.02 15.88 7.52 7.32 7.34
Altman Z-Score		 1.73 1.94 1.91 1.90 1.51 1.63 1.82 1.70 1.91 1.91 2.05
Noncontrolling Interest Sharing Ratio		 2.24% 1.99% 2.12% 2.19% 2.26% 2.20% 2.37% 2.45% 2.53% 2.79% 2.77%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.09 1.09 1.13 1.10 1.03 1.04 1.07 0.99 0.99 0.99 1.01
Quick Ratio		 0.38 0.39 0.40 0.37 0.34 0.37 0.35 0.33 0.32 0.32 0.32
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,829 -217 -2,148 -4,112 -2,193 2,732 5,365 7,444 4,350 2,683 1,576
Operating Cash Flow to CapEx		 151.07% 541.29% -165.96% 136.69% 587.94% 585.22% 73.23% 508.94% 457.07% 146.02% 254.39%
Free Cash Flow to Firm to Interest Expense		 -5.88 -0.68 -6.82 -12.35 -5.94 5.60 13.25 15.67 8.77 5.52 0.00
Operating Cash Flow to Interest Expense		 2.50 14.55 -2.74 2.16 8.99 9.65 0.84 5.75 5.09 3.21 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.85 11.86 -4.39 0.58 7.46 8.00 -0.31 4.62 3.97 1.01 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.42 0.42 0.43 0.44 0.42 0.43 0.44 0.45 0.48 0.50 0.50
Accounts Receivable Turnover		 7.03 7.15 7.16 6.95 6.96 6.91 6.98 7.19 7.84 7.40 7.53
Inventory Turnover		 5.28 5.40 5.17 5.07 4.93 5.08 4.97 4.84 5.01 5.32 5.06
Fixed Asset Turnover		 4.52 4.45 4.57 4.70 4.47 4.46 4.61 4.67 5.06 5.07 5.15
Accounts Payable Turnover		 5.94 5.73 5.95 5.65 5.74 5.52 5.73 5.75 5.77 5.54 5.49
Days Sales Outstanding (DSO)		 51.89 51.07 50.95 52.49 52.48 52.82 52.30 50.79 46.54 49.31 48.46
Days Inventory Outstanding (DIO)		 69.07 67.64 70.59 71.95 74.04 71.91 73.44 75.48 72.92 68.57 72.15
Days Payable Outstanding (DPO)		 61.48 63.72 61.39 64.55 63.64 66.13 63.74 63.49 63.30 65.91 66.50
Cash Conversion Cycle (CCC)		 59.48 54.99 60.15 59.89 62.88 58.60 61.99 62.78 56.16 51.96 54.12
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 99,834 99,908 102,978 104,049 101,050 98,685 99,374 96,821 98,333 97,641 99,487
Invested Capital Turnover		 0.67 0.68 0.68 0.70 0.67 0.69 0.70 0.72 0.79 0.82 0.82
Increase / (Decrease) in Invested Capital		 3,093 1,556 3,524 5,375 1,216 -1,223 -3,604 -7,228 -2,717 -1,044 113
Enterprise Value (EV)		 144,659 168,773 168,252 170,168 133,596 157,096 177,547 170,595 198,391 191,510 214,424
Market Capitalization		 115,012 141,247 138,069 138,599 102,142 118,209 138,658 132,759 161,172 154,025 176,453
Book Value per Share		 $47.54 $49.57 $49.69 $49.61 $47.82 $41.59 $45.49 $44.37 $45.94 $45.20 $46.18
Tangible Book Value per Share		 ($13.56) ($12.10) ($12.00) ($12.23) ($13.85) ($20.38) ($21.15) ($21.71) ($20.15) ($19.59) ($18.50)
Total Capital		 105,215 106,128 108,871 109,440 106,506 105,272 104,981 102,832 105,015 103,219 104,644
Total Debt		 33,447 31,914 34,486 35,353 35,260 43,827 42,844 42,151 42,156 41,261 41,300
Total Long-Term Debt		 31,059 30,694 32,717 32,723 32,701 42,355 42,334 40,303 38,823 38,726 38,244
Net Debt		 28,066 25,694 28,593 29,962 29,804 37,240 37,237 36,140 35,474 35,683 36,143
Capital Expenditures (CapEx)		 515 855 520 526 564 805 467 537 552 1,069 513
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 455 -1,671 1,252 1,394 -1,381 -3,459 -2,093 -4,503 -3,832 -3,409 -1,809
Debt-free Net Working Capital (DFNWC)		 5,836 4,549 7,145 6,785 4,075 3,128 3,514 1,508 2,850 2,169 3,348
Net Working Capital (NWC)		 3,448 3,329 5,376 4,155 1,516 1,656 3,004 -340 -483 -366 292
Net Nonoperating Expense (NNE)		 -131 -129 -105 -96 -44 36 18 41 98 79 64
Net Nonoperating Obligations (NNO)		 28,066 25,694 28,593 29,962 29,804 37,240 37,237 36,140 35,474 35,683 36,143
Total Depreciation and Amortization (D&A)		 1,047 1,048 1,034 1,044 1,074 1,059 1,059 1,072 1,094 1,139 1,052
Debt-free, Cash-free Net Working Capital to Revenue		 0.69% -2.49% 1.83% 1.98% -2.06% -5.02% -2.95% -6.22% -4.85% -4.22% -2.21%
Debt-free Net Working Capital to Revenue		 8.84% 6.78% 10.42% 9.61% 6.07% 4.54% 4.95% 2.08% 3.61% 2.69% 4.10%
Net Working Capital to Revenue		 5.22% 4.96% 7.84% 5.89% 2.26% 2.40% 4.23% -0.47% -0.61% -0.45% 0.36%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.94 $0.97 $0.98 $0.91 ($0.68) $1.03 $1.29 $0.08 $1.10 $1.11 $1.15
Adjusted Weighted Average Basic Shares Outstanding		 1.47B 1.48B 1.46B 1.46B 1.44B 1.43B 1.33B 1.33B 1.33B 1.33B 1.34B
Adjusted Diluted Earnings per Share		 $0.94 $0.96 $0.97 $0.90 ($0.68) $1.04 $1.28 $0.08 $1.09 $1.10 $1.14
Adjusted Weighted Average Diluted Shares Outstanding		 1.47B 1.49B 1.46B 1.46B 1.44B 1.44B 1.33B 1.33B 1.33B 1.34B 1.34B
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.47B 1.46B 1.46B 1.46B 1.44B 1.33B 1.33B 1.33B 1.33B 1.33B 1.34B
Normalized Net Operating Profit after Tax (NOPAT)		 1,264 1,339 1,376 1,263 -977 1,509 1,761 370 1,633 1,639 1,689
Normalized NOPAT Margin		 7.46% 7.40% 7.99% 6.89% -7.26% 7.57% 9.12% 1.88% 8.13% 7.58% 8.32%
Pre Tax Income Margin		 9.89% 9.40% 10.55% 8.77% -9.82% 8.71% 9.59% 2.17% 9.49% 9.29% 9.64%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 4.89 4.88 5.36 5.83 -3.78 3.64 4.62 1.11 4.09 4.34 0.00
NOPAT to Interest Expense		 4.07 4.21 4.37 3.79 -2.65 3.09 4.35 0.46 3.29 3.37 0.00
EBIT Less CapEx to Interest Expense		 3.23 2.19 3.70 4.25 -5.31 1.99 3.46 -0.02 2.98 2.14 0.00
NOPAT Less CapEx to Interest Expense		 2.41 1.52 2.72 2.21 -4.18 1.44 3.19 -0.68 2.18 1.17 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 66.83% 58.93% 55.84% 56.44% 96.68% 95.83% 88.36% 130.07% 64.60% 64.17% 67.17%
Augmented Payout Ratio		 125.85% 111.74% 101.99% 94.70% 185.42% 476.60% 427.84% 610.62% 281.34% 73.03% 76.12%

Key Financial Trends

United Technologies (RTX Corp) Financial Summary and Trends: Q1 2022 to Q1 2025

Across the last four years spanning from Q3 2022 through Q1 2025, RTX Corp has demonstrated consistent operational scale and profitability with some fluctuations reflecting market and operational challenges. Here’s a summary of key trends observed from the income, cash flow, and balance sheet statements:

  • Operating Revenue grew from approximately $17.2 billion in Q1 2023 to $20.3 billion by Q1 2025, indicating steady sales growth over the period.
  • Gross profit rose from around $3.57 billion in Q1 2023 to $4.12 billion in Q1 2025, reflecting improvements in product margins or cost management.
  • Net Income increased from approximately $1.48 billion in Q1 2023 to $1.63 billion in Q1 2025, highlighting enhanced profitability.
  • Diluted earnings per share improved from $0.97 in Q1 2023 to $1.14 in Q1 2025, showing earnings growth on a per share basis.
  • Cash and cash equivalents improved from about $4.55 billion as of Q1 2023 to $5.16 billion by Q1 2025, indicating solid liquidity position.
  • Total equity grew from approximately $62.1 billion at Q1 2023 to $63.3 billion in Q1 2025, supporting financial strength and shareholder value.
  • Operating costs and selling, general & administrative expenses showed some volatility but generally increased in line with revenue growth, which may reflect expansion efforts.
  • Net cash provided by operating activities consistently remained positive, around $1.3 billion in Q1 2025, showing strong cash generation capability.
  • Capital expenditures remained substantial around $500 million in Q1 2025, indicating ongoing investment in plant and equipment to support growth.
  • Debt levels, including long-term debt of approximately $38.2 billion in Q1 2025, remain high and slightly increased over prior years, which may add financial risk if not managed carefully.
  • Net cash used in financing activities was negative $1.06 billion in Q1 2025, reflecting repayments of debt, dividends, and share repurchases, which impact cash reserves.
  • Research and development expenses increased moderately to $637 million in Q1 2025, which while necessary for innovation, also exert pressure on operating expenses.

Summary: RTX Corp has shown steady growth in revenue and profitability over the past four years, supported by solid operational cash flow and incremental investments in capital expenditures and R&D. The company maintains a strong balance sheet with growing equity and liquidity, though it carries significant debt levels. Dividends and share repurchases continue, balancing shareholder returns with cash conservation. Retail investors should watch for how debt levels are managed and sustained earnings growth amid increased investments.

08/03/25 07:47 PMAI Generated. May Contain Errors.

Frequently Asked Questions About RTX's Financials

When does RTX's fiscal year end?

According to the most recent income statement we have on file, RTX's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has RTX's net income changed over the last 9 years?

RTX's net income appears to be on a downward trend, with a most recent value of $5.01 billion in 2024, falling from $7.97 billion in 2015. The previous period was $3.38 billion in 2023. View RTX's forecast to see where analysts expect RTX to go next.

What is RTX's operating income?
RTX's total operating income in 2024 was $6.54 billion, based on the following breakdown:
  • Total Gross Profit: $15.41 billion
  • Total Operating Expenses: $8.87 billion
How has RTX's revenue changed over the last 9 years?

Over the last 9 years, RTX's total revenue changed from $56.10 billion in 2015 to $80.74 billion in 2024, a change of 43.9%.

How much debt does RTX have?

RTX's total liabilities were at $100.90 billion at the end of 2024, a 0.5% increase from 2023, and a 72.4% increase since 2015.

How much cash does RTX have?

In the past 9 years, RTX's cash and equivalents has ranged from $4.94 billion in 2019 to $8.99 billion in 2017, and is currently $5.58 billion as of their latest financial filing in 2024.

How has RTX's book value per share changed over the last 9 years?

Over the last 9 years, RTX's book value per share changed from 30.84 in 2015 to 45.20 in 2024, a change of 46.5%.


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This page (NYSE:RTX) was last updated on 8/3/2025 by MarketBeat.com Staff
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