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RTX (RTX) Financials

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$156.27 -0.05 (-0.03%)
Closing price 08/22/2025 03:59 PM Eastern
Extended Trading
$156.21 -0.06 (-0.04%)
As of 08/22/2025 07:59 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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 6,220 7,608 5,055 4,552 5,269 5,537 -3,519 3,864 5,197 3,195 4,774
Consolidated Net Income / (Loss)		 6,623 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		 6,468 4,356 5,436 4,920 1,406 3,731 -2,928 4,145 5,327 3,380 5,013
Total Pre-Tax Income 		8,712 6,467 7,133 7,763 2,504 4,152 -2,353 5,109 6,117 3,836 6,194
Total Operating Income		 9,593 7,291 8,221 8,138 2,877 4,914 -1,889 5,136 5,504 3,561 6,538
Total Gross Profit		 17,002 15,667 15,773 15,636 7,236 10,751 8,531 12,491 13,668 12,089 15,410
Total Revenue		 57,900 56,098 57,244 59,837 34,701 45,349 56,587 64,388 67,074 68,920 80,738
Operating Revenue		 57,900 56,098 57,244 59,837 34,701 45,349 56,587 64,388 67,074 68,920 80,738
Total Cost of Revenue		 40,898 40,431 41,471 44,201 27,465 34,598 48,056 51,897 53,406 56,831 65,328
Operating Cost of Revenue		 40,898 40,431 41,471 44,201 27,465 34,598 48,056 51,897 53,406 56,831 65,328
Total Operating Expenses		 7,409 8,376 7,552 7,498 4,359 5,837 10,420 7,355 8,164 8,528 8,872
Selling, General & Admin Expense		 6,172 6,097 5,958 6,429 2,864 3,711 5,540 5,046 5,573 5,809 5,806
Research & Development Expense		 2,475 2,279 2,376 2,427 1,878 2,452 2,582 2,732 2,711 2,805 2,934
Other Operating Expenses / (Income)		 -1,238 0.00 -782 -1,358 -383 -326 -885 -423 -120 -86 132
Total Other Income / (Expense), net		 -881 -824 -1,088 -375 -373 -762 -464 -27 613 275 -344
Interest Expense		 881 824 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		 2,244 2,111 1,697 2,843 1,098 421 575 964 790 456 1,181
Net Income / (Loss) Discontinued Operations		 155 3,610 -20 - 4,248 2,217 -367 -33 -19 0.00 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 403 358 371 368 385 411 224 248 111 185 239
Basic Earnings per Share		 $6.92 $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		 898.30M 872.70M 818.20M 790M 800.40M 854.80M 1.36B 1.50B 1.48B 1.43B 1.33B
Diluted Earnings per Share		 $6.82 $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		 911.60M 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		 907.16M 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		 $2.36 $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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 1,422 1,426 1,327 -984 1,426 1,709 111 1,472 1,482 1,535 1,657
Consolidated Net Income / (Loss)		 1,468 1,481 1,359 -933 1,473 1,743 175 1,535 1,560 1,625 1,725
Net Income / (Loss) Continuing Operations		 1,468 1,481 1,359 -933 1,473 1,743 175 1,535 1,560 1,625 1,725
Total Pre-Tax Income 		1,700 1,816 1,607 -1,322 1,735 1,851 428 1,906 2,009 1,958 2,040
Total Operating Income		 1,551 1,687 1,493 -1,396 1,777 1,870 529 2,028 2,111 2,035 2,146
Total Gross Profit		 3,567 3,569 3,797 714 4,009 3,561 3,580 4,034 4,235 4,116 4,376
Total Revenue		 18,093 17,214 18,315 13,464 19,927 19,305 19,721 20,089 21,623 20,306 21,581
Operating Revenue		 18,093 17,214 18,315 13,464 19,927 19,305 19,721 20,089 21,623 20,306 21,581
Total Cost of Revenue		 14,526 13,645 14,518 12,750 15,918 15,744 16,141 16,055 17,388 16,190 17,205
Operating Cost of Revenue		 14,526 13,645 14,518 12,750 15,918 15,744 16,141 16,055 17,388 16,190 17,205
Total Operating Expenses		 2,016 1,882 2,304 2,110 2,232 1,691 3,051 2,006 2,124 2,081 2,230
Selling, General & Admin Expense		 1,329 1,363 1,600 1,401 1,445 1,394 1,449 1,389 1,574 1,448 1,573
Research & Development Expense		 716 607 729 712 757 669 706 751 808 637 697
Other Operating Expenses / (Income)		 -29 -88 -25 -3.00 30 -372 896 -134 -258 -4.00 -40
Total Other Income / (Expense), net		 149 129 114 74 -42 -19 -101 -122 -102 -77 -106
Interest & Investment Income		 - 444 - 443 - -405 -101 374 384 -443 -106
Income Tax Expense		 232 335 248 -389 262 108 253 371 449 333 315
Net Income / (Loss) Attributable to Noncontrolling Interest		 46 55 32 51 47 34 64 63 78 90 68
Basic Earnings per Share		 $0.97 $0.98 $0.91 ($0.68) $1.03 $1.29 $0.08 $1.10 $1.11 $1.15 $1.24
Weighted Average Basic Shares Outstanding		 1.48B 1.46B 1.46B 1.44B 1.43B 1.33B 1.33B 1.33B 1.33B 1.34B 1.34B
Diluted Earnings per Share		 $0.96 $0.97 $0.90 ($0.68) $1.04 $1.28 $0.08 $1.09 $1.10 $1.14 $1.22
Weighted Average Diluted Shares Outstanding		 1.49B 1.46B 1.46B 1.44B 1.44B 1.33B 1.33B 1.33B 1.34B 1.34B 1.34B
Weighted Average Basic & Diluted Shares Outstanding		 1.46B 1.46B 1.46B 1.44B 1.33B 1.33B 1.33B 1.33B 1.33B 1.34B 1.34B
Cash Dividends to Common per Share		 - $0.55 $1.18 $0.00 - $0.59 $1.26 $0.00 - $0.63 $1.36

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 824 1,630 69 -1,329 -2,806 1,208 1,412 -979 -1,562 335 -1,020
Net Cash From Operating Activities		 6,979 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		 6,979 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		 6,468 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		 1,820 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		 -466 -77 317 -621 -874 -260 3,163 -2,005 -2,656 -1,883 -1,351
Changes in Operating Assets and Liabilities, net		 -843 613 -1,303 -808 242 -358 -57 445 389 2,175 -867
Net Cash From Investing Activities		 -1,967 -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		 -1,967 -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		 -1,594 -1,652 -1,699 -2,014 -1,467 -1,868 -1,795 -2,134 -2,288 -2,415 -2,625
Acquisitions		 -995 -975 -1,098 -611 -15,439 -360 -731 -1,396 -553 -751 -611
Purchase of Investments		 -202 -364 -438 -1,514 -988 -787 -280 -231 -150 -117 -218
Divestitures		 344 200 211 70 74 134 5,764 1,879 94 6.00 1,795
Sale and/or Maturity of Investments		 93 160 249 596 140 342 -32 -16 -205 14 -142
Other Investing Activities, net		 387 -163 266 454 421 -137 417 534 273 224 267
Net Cash From Financing Activities		 -4,249 -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		 -4,249 -10,776 -1,188 -993 12,209 -1,913 -3,860 -6,756 -5,859 -4,527 -6,617
Repayment of Debt		 -986 -1,477 -3,347 -2,451 -2,890 -1,715 -18,419 -5,303 -447 -10,895 -2,956
Repurchase of Common Equity		 -1,500 -10,000 -2,254 -1,453 -325 -151 -47 -2,327 -2,803 -12,870 -444
Payment of Dividends		 -2,048 -2,184 -2,069 -2,074 -2,170 -2,442 -2,732 -2,957 -3,128 -3,239 -3,217
Issuance of Debt		 98 1,744 6,469 4,954 13,579 -19 2,164 3,902 519 22,477 0.00
Other Net Changes in Cash		 217 8,619 -2,526 - -420 - -2,383 0.00 -42 - -28
Cash Interest Paid		 1,076 1,057 1,157 974 1,027 1,801 1,628 1,339 1,263 1,464 1,942
Cash Income Taxes Paid		 2,024 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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 6/30/2025
Net Change in Cash & Equivalents		 856 -345 -514 65 1,129 -980 412 673 -1,125 -413 -366
Net Cash From Operating Activities		 4,628 -863 719 3,316 4,711 342 2,733 2,523 1,561 1,305 458
Net Cash From Continuing Operating Activities		 4,628 -863 719 3,316 4,711 342 2,733 2,523 1,561 1,305 458
Net Income / (Loss) Continuing Operations		 1,468 1,481 1,359 -933 1,473 1,743 175 1,535 1,560 1,625 1,725
Consolidated Net Income / (Loss)		 1,468 1,481 1,359 -933 1,473 1,743 175 1,535 1,560 1,625 1,725
Depreciation Expense		 1,048 1,034 1,044 1,074 1,059 1,059 1,072 1,094 1,139 1,052 1,076
Non-Cash Adjustments To Reconcile Net Income		 768 -1,486 -510 -12 125 -1,537 -696 -1,217 2,181 -752 -543
Changes in Operating Assets and Liabilities, net		 1,344 -1,892 -1,174 3,187 2,054 -923 2,182 1,111 -3,319 -620 -1,800
Net Cash From Investing Activities		 -938 -579 -623 -859 -978 693 -733 -715 -779 -678 -509
Net Cash From Continuing Investing Activities		 -938 -579 -623 -859 -978 693 -733 -715 -779 -678 -509
Purchase of Property, Plant & Equipment		 -855 -520 -526 -564 -805 -467 -537 -552 -1,069 -513 -530
Acquisitions		 -169 -154 -160 -222 -215 -163 -155 -129 -164 -104 -122
Other Investing Activities, net		 207 108 5.00 -16 127 41 -13 -66 305 -14 -49
Net Cash From Financing Activities		 -2,849 1,096 -628 -2,377 -2,618 -2,007 -1,584 -1,158 -1,868 -1,056 -353
Net Cash From Continuing Financing Activities		 -2,849 1,096 -628 -2,377 -2,618 -2,007 -1,584 -1,158 -1,868 -1,056 -353
Repayment of Debt		 -102 -118 -66 -181 -10,530 -1,182 -782 -29 -985 -166 -893
Payment of Dividends		 -791 -790 -844 -838 -767 -769 -823 -823 -802 -840 -910
Effect of Exchange Rate Changes		 - 1.00 18 -15 14 -8.00 - - - 16 38

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 91,206 87,484 89,706 96,920 134,211 139,615 162,153 161,404 158,864 161,869 162,861
Total Current Assets		 31,483 26,706 28,550 32,858 35,503 61,577 43,376 42,050 42,443 48,417 51,133
Cash & Equivalents		 5,229 7,075 7,157 8,985 6,152 4,937 8,802 7,832 6,220 6,587 5,578
Accounts Receivable		 10,448 10,653 11,481 12,595 14,271 8,743 9,254 9,661 9,108 10,838 10,976
Inventories, net		 7,642 8,135 8,704 9,881 10,083 9,047 9,411 9,178 10,617 11,777 12,768
Other Current Assets		 1,373 843 1,208 1,397 4,997 7,027 15,909 15,379 16,498 19,215 21,811
Plant, Property, & Equipment, net		 8,592 8,732 9,158 10,186 12,297 10,322 14,962 14,972 15,170 15,748 16,089
Plant, Property & Equipment, gross		 - - - - - - - - - - 32,783
Accumulated Depreciation		 - - - - - - - - - - 16,694
Total Noncurrent Assets		 51,131 52,046 51,998 53,876 86,411 67,716 103,815 104,382 101,251 97,704 95,639
Noncurrent Note & Lease Receivables		 958 1,018 1,398 2,372 3,023 3,463 5,024 4,806 2,603 4,030 4,110
Goodwill		 27,448 27,301 27,059 27,910 48,112 36,609 54,285 54,436 53,840 53,699 52,789
Intangible Assets		 15,528 15,603 15,684 15,883 26,424 24,473 40,539 38,516 36,823 35,399 33,443
Other Noncurrent Operating Assets		 5,706 6,163 6,048 5,988 7,206 3,171 3,967 6,624 7,985 4,576 5,297
Total Liabilities & Shareholders' Equity		 91,206 87,484 89,706 96,920 134,211 139,615 162,153 161,404 158,864 161,869 162,861
Total Liabilities		 58,502 58,518 60,241 65,368 93,492 95,289 88,269 86,705 84,650 100,424 100,903
Total Current Liabilities		 23,475 22,618 21,906 24,391 31,368 46,594 35,848 35,449 39,114 46,761 51,499
Short-Term Debt		 1,917 1,105 2,204 2,496 4,345 5,551 797 158 1,220 1,472 2,535
Accounts Payable		 6,250 6,875 7,483 9,579 11,080 7,816 8,639 8,751 9,896 10,698 12,897
Accrued Expenses		 12,527 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		 35,027 35,900 38,335 40,977 62,124 48,695 52,421 51,256 45,536 53,663 49,404
Long-Term Debt		 17,784 19,320 21,697 24,989 41,192 37,701 31,026 31,327 30,694 42,355 38,726
Noncurrent Employee Benefit Liabilities		 6,681 6,022 5,612 3,036 4,018 2,487 10,342 7,855 4,807 2,385 2,104
Other Noncurrent Operating Liabilities		 10,562 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 0.00
Redeemable Noncontrolling Interest		 140 122 296 131 109 95 32 35 36 35 35
Total Equity & Noncontrolling Interests		 32,564 28,844 29,169 31,421 40,610 44,231 73,852 74,664 74,178 61,410 61,923
Total Preferred & Common Equity		 31,213 27,358 27,579 29,610 38,446 41,774 72,163 73,068 72,632 59,798 60,156
Total Common Equity		 31,213 27,358 27,579 29,610 38,446 41,774 72,163 73,068 72,877 59,798 60,156
Common Stock		 15,300 16,033 17,285 17,574 22,514 23,019 36,930 37,483 37,939 37,055 37,434
Retained Earnings		 44,611 49,956 52,873 55,242 57,823 61,594 49,423 50,265 52,269 52,154 53,589
Treasury Stock		 -21,922 -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)		 -6,661 -7,619 -8,334 -7,525 -9,333 -10,149 -3,734 -1,915 -2,018 -2,419 -3,755
Noncontrolling Interest		 1,351 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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 6/30/2025
Total Assets		 158,864 161,636 162,161 162,443 161,869 160,187 161,169 164,822 162,861 164,864 167,139
Total Current Assets		 42,443 45,504 45,915 46,518 48,417 48,023 49,225 51,764 51,133 52,916 54,657
Cash & Equivalents		 6,220 5,893 5,391 5,456 6,587 5,607 6,011 6,682 5,578 5,157 4,782
Accounts Receivable		 9,108 10,069 9,903 10,058 10,838 10,280 10,252 10,097 10,976 11,426 12,385
Inventories, net		 10,617 11,327 11,997 12,050 11,777 12,386 13,047 13,465 12,768 13,618 14,012
Other Current Assets		 16,498 18,215 18,624 18,954 19,215 19,750 19,915 21,520 21,811 22,715 23,478
Plant, Property, & Equipment, net		 15,170 15,149 15,295 15,347 15,748 15,638 15,693 15,886 16,089 16,135 16,205
Plant, Property & Equipment, gross		 - 29,536 30,175 30,554 - 31,623 32,062 32,711 - 33,348 33,947
Accumulated Depreciation		 - 14,387 14,880 15,207 - 15,985 16,369 16,825 - 17,213 17,742
Total Noncurrent Assets		 101,251 100,983 100,951 100,578 97,704 96,526 96,251 97,172 95,639 95,813 96,277
Noncurrent Note & Lease Receivables		 2,603 2,543 2,457 4,207 4,030 3,998 3,984 2,306 4,110 4,034 3,973
Goodwill		 53,840 53,904 54,122 53,883 53,699 53,644 53,347 53,759 52,789 53,045 53,327
Intangible Assets		 36,823 36,477 36,234 35,865 35,399 34,960 34,503 34,159 33,443 33,116 32,748
Other Noncurrent Operating Assets		 7,985 8,059 8,138 6,623 4,576 3,924 4,417 6,948 5,297 5,618 6,229
Total Liabilities & Shareholders' Equity		 158,864 161,636 162,161 162,443 161,869 160,187 161,169 164,822 162,861 164,864 167,139
Total Liabilities		 84,650 87,251 88,074 91,197 100,424 98,050 100,488 101,963 100,903 101,520 102,892
Total Current Liabilities		 39,114 40,128 41,760 45,002 46,761 45,019 49,565 52,247 51,499 52,624 54,332
Short-Term Debt		 1,220 1,769 2,630 2,559 1,472 510 1,848 3,333 2,535 3,056 3,719
Accounts Payable		 9,896 10,060 10,128 10,315 10,698 10,522 10,939 11,834 12,897 13,444 13,433
Accrued Expenses		 10,999 11,573 11,719 14,283 14,917 15,006 17,048 15,971 14,831 15,219 15,861
Current Employee Benefit Liabilities		 2,401 1,856 2,121 2,597 2,491 1,862 2,065 2,673 2,620 1,867 2,133
Other Current Liabilities		 14,598 14,870 15,162 15,248 17,183 17,119 17,665 - 18,616 19,038 19,186
Total Noncurrent Liabilities		 45,536 47,123 46,314 46,195 53,663 53,031 50,923 49,716 49,404 48,896 48,560
Long-Term Debt		 30,694 32,717 32,723 32,701 42,355 42,334 40,303 38,823 38,726 38,244 38,259
Noncurrent Employee Benefit Liabilities		 4,807 4,676 4,579 4,457 2,385 2,320 2,264 2,230 2,104 2,060 2,038
Other Noncurrent Operating Liabilities		 10,035 9,730 9,012 9,037 8,923 8,377 8,356 8,663 8,574 8,592 8,263
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		 36 38 31 33 35 37 31 33 35 37 41
Total Equity & Noncontrolling Interests		 74,178 74,347 74,056 71,213 61,410 62,100 60,650 62,826 61,923 63,307 64,206
Total Preferred & Common Equity		 72,632 72,795 72,480 69,596 59,798 60,485 58,985 61,114 60,156 61,516 62,398
Total Common Equity		 72,877 72,795 72,480 69,596 59,798 60,485 58,985 61,114 60,156 61,516 62,398
Common Stock		 37,939 38,031 38,228 38,388 37,055 37,108 37,302 37,276 37,434 37,515 37,680
Retained Earnings		 52,269 52,891 52,489 51,513 52,154 53,052 51,488 52,948 53,589 54,277 54,104
Treasury Stock		 -15,285 -16,112 -16,713 -18,170 -26,977 -27,029 -27,080 -27,141 -27,112 -27,069 -26,995
Accumulated Other Comprehensive Income / (Loss)		 -2,018 -1,989 -1,502 -2,116 -2,419 -2,635 -2,718 -1,969 -3,755 -3,207 -2,391
Noncontrolling Interest		 1,546 1,552 1,576 1,617 1,612 1,615 1,665 1,712 1,767 1,791 1,808

Annual Metrics And Ratios for RTX

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 2.30% -3.11% 2.04% 4.53% -42.01% 30.69% 24.78% 13.79% 4.17% 2.75% 17.15%
EBITDA Growth		 10.98% -19.79% 11.24% 0.93% -47.15% 40.32% -70.26% 327.57% 18.65% -32.42% 40.27%
EBIT Growth		 12.21% -24.00% 12.76% -1.01% -56.55% 38.97% -138.44% 371.89% 43.94% -51.83% 83.60%
NOPAT Growth		 12.76% -31.05% 27.57% -17.68% -68.68% 173.35% -129.95% 415.13% 15.03% -34.54% 68.64%
Net Income Growth		 8.41% 20.28% -32.01% -9.16% 14.92% 5.20% -155.40% 224.80% 29.09% -36.32% 48.31%
EPS Growth		 9.12% 26.25% -28.92% -6.86% 14.92% 5.20% -140.41% 198.84% 36.72% -36.29% 59.19%
Operating Cash Flow Growth		 -4.58% -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		 353.32% -30.05% -69.13% -44.58% -2,263.03% 167.73% -271.18% 108.25% 19.02% 34.71% 45.28%
Invested Capital Growth		 -7.89% -6.15% 9.20% 8.32% 60.04% -18.53% 48.49% 1.49% 1.58% -1.22% -1.06%
Revenue Q/Q Growth		 1.08% 5.55% 0.63% 1.74% -45.90% 66.05% 27.30% 0.98% 1.59% 2.73% 2.15%
EBITDA Q/Q Growth		 8.83% -18.96% 15.15% 1.60% -49.54% 134.67% 32.50% 16.14% 19.12% 3.15% 3.95%
EBIT Q/Q Growth		 9.82% -22.66% 18.71% 1.37% -58.10% 348.36% 4.50% 35.87% 35.63% 6.78% 5.38%
NOPAT Q/Q Growth		 5.98% -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		 0.11% 28.75% -29.47% -10.97% 5.84% 10.78% -52.19% 14.64% 15.09% 0.15% 1.77%
EPS Q/Q Growth		 0.59% 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		 -6.26% 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		 287.20% -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		 -10.70% -9.54% -0.92% -1.58% 56.11% -18.62% 4.25% 1.67% 0.07% -2.34% -0.70%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 29.36% 27.93% 27.55% 26.13% 20.85% 23.71% 15.08% 19.40% 20.38% 17.54% 19.09%
EBITDA Margin		 19.71% 16.32% 17.79% 17.18% 15.65% 16.81% 4.01% 15.05% 17.15% 11.28% 13.50%
Operating Margin		 16.57% 13.00% 14.36% 13.60% 8.29% 10.84% -3.34% 7.98% 8.21% 5.17% 8.10%
EBIT Margin		 16.57% 13.00% 14.36% 13.60% 10.19% 10.84% -3.34% 7.98% 11.02% 5.17% 8.10%
Profit (Net Income) Margin		 11.44% 14.20% 9.46% 8.22% 16.29% 13.12% -5.82% 6.39% 7.91% 4.90% 6.21%
Tax Burden Percent		 76.02% 123.18% 75.93% 63.38% 225.80% 143.26% 140.03% 80.49% 86.77% 88.11% 80.93%
Interest Burden Percent		 90.82% 88.70% 86.77% 95.39% 70.81% 84.49% 124.56% 99.47% 82.74% 107.72% 94.74%
Effective Tax Rate		 25.76% 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)		 15.15% 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)		 11.58% 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)		 4.91% 14.60% 4.38% 5.41% 13.16% 7.91% -3.94% 1.27% 2.29% 1.82% 2.73%
Return on Equity (ROE)		 20.06% 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)		 23.36% 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)		 10.55% 8.16% 9.28% 8.72% 3.06% 3.59% -1.25% 3.17% 4.62% 2.22% 4.03%
Return on Assets (ROA)		 7.29% 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)		 19.16% 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)		 21.22% 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)		 7,122 4,911 6,265 5,158 1,615 4,416 -1,322 4,167 4,793 3,138 5,291
NOPAT Margin		 12.30% 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)		 3.56% -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		 70.64% 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		 10.66% 10.87% 10.41% 10.74% 8.25% 8.18% 9.79% 7.84% 8.31% 8.43% 7.19%
R&D to Revenue		 4.27% 4.06% 4.15% 4.06% 5.41% 5.41% 4.56% 4.24% 4.04% 4.07% 3.63%
Operating Expenses to Revenue		 12.80% 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)		 9,593 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)		 11,413 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)		 2.65 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 0.00
Price to Revenue (P/Rev)		 1.43 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)		 13.30 9.05 14.81 19.00 14.05 20.73 0.00 31.18 27.18 37.00 32.26
Dividend Yield		 2.60% 3.30% 2.88% 2.51% 3.07% 2.21% 2.84% 2.49% 2.25% 2.82% 2.14%
Earnings Yield		 7.52% 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)		 2.19 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)		 1.70 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)		 8.65 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)		 10.29 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)		 13.85 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)		 14.14 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)		 8.98 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		 0.60 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		 0.54 0.67 0.74 0.79 1.01 0.85 0.42 0.42 0.41 0.69 0.63
Financial Leverage		 0.42 0.42 0.52 0.58 0.80 0.71 0.37 0.31 0.33 0.46 0.59
Leverage Ratio		 2.75 2.90 3.03 3.06 3.20 3.22 2.55 2.18 2.15 2.36 2.63
Compound Leverage Factor		 2.50 2.57 2.63 2.92 2.26 2.72 3.18 2.17 1.78 2.55 2.49
Debt to Total Capital		 37.59% 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		 3.66% 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		 33.94% 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% 0.00% 0.24% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 2.85% 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		 59.56% 55.39% 51.68% 50.16% 44.57% 47.70% 68.27% 68.81% 68.67% 56.80% 58.28%
Debt to EBITDA		 1.73 2.23 2.35 2.67 8.38 5.67 14.04 3.25 2.77 5.64 3.78
Net Debt to EBITDA		 1.27 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		 1.56 2.11 2.13 2.43 7.58 4.95 13.69 3.23 2.67 5.45 3.55
Debt to NOPAT		 2.77 4.16 3.81 5.33 28.19 9.80 -24.07 7.56 6.66 13.97 7.80
Net Debt to NOPAT		 2.03 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		 2.50 3.93 3.46 4.85 25.50 8.54 -23.46 7.52 6.40 13.50 7.32
Altman Z-Score		 2.62 2.48 2.60 2.59 1.46 1.91 1.47 1.82 2.06 1.67 2.00
Noncontrolling Interest Sharing Ratio		 4.48% 5.03% 5.98% 6.27% 5.83% 5.67% 3.61% 2.26% 1.99% 2.20% 2.79%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.34 1.18 1.30 1.35 1.13 1.32 1.21 1.19 1.09 1.04 0.99
Quick Ratio		 0.67 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)		 10,985 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		 437.83% 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		 12.47 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		 7.92 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		 6.11 6.19 4.54 0.51 1.17 2.48 1.86 2.54 3.82 3.63 2.44
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.64 0.63 0.65 0.64 0.30 0.33 0.38 0.40 0.42 0.43 0.50
Accounts Receivable Turnover		 5.29 5.32 5.17 4.97 2.58 3.94 6.29 6.81 7.15 6.91 7.40
Inventory Turnover		 4.55 5.13 4.93 4.76 2.75 3.62 5.21 5.58 5.40 5.08 5.32
Fixed Asset Turnover		 6.63 6.48 6.40 6.19 3.09 4.01 4.48 4.30 4.45 4.46 5.07
Accounts Payable Turnover		 6.19 6.16 5.78 5.18 2.66 3.66 5.84 5.97 5.73 5.52 5.54
Days Sales Outstanding (DSO)		 69.05 68.65 70.57 73.43 141.29 92.62 58.04 53.61 51.07 52.82 49.31
Days Inventory Outstanding (DIO)		 80.20 71.22 74.10 76.74 132.66 100.91 70.10 65.37 67.64 71.91 68.57
Days Payable Outstanding (DPO)		 58.97 59.24 63.18 70.45 137.28 99.67 62.49 61.15 63.72 66.13 65.91
Cash Conversion Cycle (CCC)		 90.27 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		 45,089 42,316 46,209 50,052 80,104 65,261 96,905 98,352 99,908 98,685 97,641
Invested Capital Turnover		 1.23 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		 -3,863 -2,773 3,893 3,843 30,052 -14,843 31,644 1,447 1,556 -1,223 -1,044
Enterprise Value (EV)		 98,668 83,801 93,489 106,933 115,695 155,628 123,905 145,753 168,773 157,096 191,510
Market Capitalization		 82,705 68,843 74,859 86,491 74,037 114,761 99,163 120,469 141,247 118,209 154,025
Book Value per Share		 $34.24 $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		 ($12.90) ($17.53) ($18.42) ($17.76) ($45.06) ($22.37) ($14.92) ($13.28) ($12.10) ($20.38) ($19.59)
Total Capital		 52,405 49,391 53,366 59,037 86,256 87,578 105,707 106,184 106,128 105,272 103,219
Total Debt		 19,701 20,425 23,901 27,485 45,537 43,252 31,823 31,485 31,914 43,827 41,261
Total Long-Term Debt		 17,784 19,320 21,697 24,989 41,192 37,701 31,026 31,327 30,694 42,355 38,726
Net Debt		 14,472 13,350 16,744 18,500 39,385 38,315 23,021 23,653 25,694 37,240 35,683
Capital Expenditures (CapEx)		 1,594 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)		 4,696 -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)		 9,925 5,193 8,848 10,963 8,480 20,534 8,325 6,759 4,549 3,128 2,169
Net Working Capital (NWC)		 8,008 4,088 6,644 8,467 4,135 14,983 7,528 6,601 3,329 1,656 -366
Net Nonoperating Expense (NNE)		 499 -3,055 849 238 -4,039 -1,532 1,973 55 -515 -242 278
Net Nonoperating Obligations (NNO)		 12,385 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)		 1,820 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		 8.11% -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		 17.14% 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		 13.83% 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		 $4.05 $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		 1.53B 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		 $4.00 $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		 1.56B 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 $0.00 $3.80 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.55B 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)		 7,122 4,911 6,265 5,158 1,615 4,416 906 4,167 4,793 3,138 5,291
Normalized NOPAT Margin		 12.30% 8.75% 10.94% 8.62% 4.66% 9.74% 1.60% 6.47% 7.15% 4.55% 6.55%
Pre Tax Income Margin		 15.05% 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		 10.89 8.85 7.91 8.95 3.43 3.09 -1.38 2.61 5.79 2.37 3.51
NOPAT to Interest Expense		 8.08 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		 9.08 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		 6.27 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		 30.92% 27.42% 38.20% 42.15% 38.38% 41.06% -82.91% 71.91% 58.93% 95.83% 64.17%
Augmented Payout Ratio		 53.57% 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 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 6.15% 9.53% 12.27% -20.57% 10.14% 12.15% 7.68% 49.21% 8.51% 5.19% 9.43%
EBITDA Growth		 -1.63% 29.94% 26.87% -112.54% 9.12% 7.64% -46.35% 1,069.57% 14.60% 4.16% 101.25%
EBIT Growth		 3.54% 56.20% 43.39% -191.84% 14.57% 10.85% -72.73% 245.27% 18.80% 6.43% 305.67%
NOPAT Growth		 21.18% 40.51% 4.48% -177.29% 12.64% 27.99% -82.87% 267.14% 8.65% -4.09% 738.96%
Net Income Growth		 90.16% 33.79% 1.57% -166.88% 0.34% 17.69% -87.12% 264.52% 5.91% -6.77% 885.71%
EPS Growth		 108.70% 34.72% 2.27% -172.34% 8.33% 31.96% -91.11% 260.29% 5.77% -10.94% 1,425.00%
Operating Cash Flow Growth		 46.41% -281.30% -44.09% 326.22% 1.79% 139.63% 280.11% -23.91% -66.86% 281.58% -83.24%
Free Cash Flow Firm Growth		 36.61% 1.18% -220.40% -19.94% 1,360.77% 349.74% 281.02% 298.35% -1.77% -70.63% -137.71%
Invested Capital Growth		 1.58% 3.54% 5.45% 1.22% -1.22% -3.50% -6.95% -2.69% -1.06% 0.11% 4.77%
Revenue Q/Q Growth		 6.74% -4.86% 6.40% -26.49% 48.00% -3.12% 2.15% 1.87% 7.64% -6.09% 6.28%
EBITDA Q/Q Growth		 1.25% 4.69% 9.67% -110.79% 980.75% 3.28% -45.34% 95.00% 4.10% 6.25% -6.69%
EBIT Q/Q Growth		 2.04% 8.77% 15.00% -171.96% 227.29% 5.23% -71.71% 283.36% 4.09% 13.74% -10.62%
NOPAT Q/Q Growth		 5.93% 2.72% -8.23% -177.40% 254.39% 16.72% -87.72% 655.10% 0.36% 3.03% 7.44%
Net Income Q/Q Growth		 5.23% 0.89% -8.24% -168.65% 257.88% 18.33% -89.96% 777.14% 1.63% 4.17% 6.15%
EPS Q/Q Growth		 2.13% 1.04% -7.22% -175.56% 252.94% 23.08% -93.75% 1,262.50% 0.92% 3.64% 7.02%
Operating Cash Flow Q/Q Growth		 494.86% -118.65% 183.31% 361.20% 42.07% -92.74% 699.12% -7.68% -38.13% -16.40% -64.90%
Free Cash Flow Firm Q/Q Growth		 88.15% -891.48% -91.43% 46.67% 224.55% 96.40% 38.76% -41.56% -38.32% -41.27% -278.14%
Invested Capital Q/Q Growth		 0.07% 3.07% 1.04% -2.88% -2.34% 0.70% -2.57% 1.56% -0.70% 1.89% 1.97%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 19.71% 20.73% 20.73% 5.30% 20.12% 18.45% 18.15% 20.08% 19.59% 20.27% 20.28%
EBITDA Margin		 14.36% 15.81% 16.29% -2.39% 14.23% 15.17% 8.12% 15.54% 15.03% 17.00% 14.93%
Operating Margin		 8.57% 9.80% 8.15% -10.37% 8.92% 9.69% 2.68% 10.10% 9.76% 10.02% 9.94%
EBIT Margin		 8.57% 9.80% 10.59% -10.37% 8.92% 9.69% 2.68% 10.10% 9.76% 11.82% 9.94%
Profit (Net Income) Margin		 8.11% 8.60% 7.42% -6.93% 7.39% 9.03% 0.89% 7.64% 7.21% 8.00% 7.99%
Tax Burden Percent		 86.35% 81.55% 84.57% 70.57% 84.90% 94.17% 40.89% 80.54% 77.65% 82.99% 84.56%
Interest Burden Percent		 109.61% 107.65% 82.84% 94.70% 97.64% 98.98% 80.91% 93.98% 95.17% 81.55% 95.06%
Effective Tax Rate		 13.65% 18.45% 15.43% 0.00% 15.10% 5.83% 59.11% 19.46% 22.35% 17.01% 15.44%
Return on Invested Capital (ROIC)		 5.01% 5.41% 4.80% -4.85% 5.25% 6.40% 0.79% 6.45% 6.24% 6.84% 7.09%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.53% 5.80% 5.14% -4.69% 5.14% 6.35% 0.67% 6.15% 6.02% 6.66% 6.85%
Return on Net Nonoperating Assets (RNNOA)		 1.83% 2.11% 1.99% -1.90% 2.39% 3.06% 0.33% 2.99% 3.56% 3.90% 4.02%
Return on Equity (ROE)		 6.84% 7.53% 6.79% -6.75% 7.64% 9.46% 1.12% 9.44% 9.79% 10.73% 11.11%
Cash Return on Invested Capital (CROIC)		 3.27% 1.65% -0.13% 1.74% 4.39% 7.04% 9.72% 7.90% 6.45% 5.12% 2.17%
Operating Return on Assets (OROA)		 3.59% 4.19% 4.66% -4.34% 3.83% 4.27% 1.20% 4.88% 4.85% 5.95% 5.06%
Return on Assets (ROA)		 3.40% 3.68% 3.26% -2.90% 3.18% 3.98% 0.40% 3.69% 3.59% 4.02% 4.07%
Return on Common Equity (ROCE)		 6.71% 7.37% 6.64% -6.59% 7.47% 9.24% 1.09% 9.20% 9.52% 10.44% 10.79%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 7.81% 7.87% 4.85% 0.00% 6.02% 4.17% 8.06% 0.00% 7.96% 10.33%
Net Operating Profit after Tax (NOPAT)		 1,339 1,376 1,263 -977 1,509 1,761 216 1,633 1,639 1,689 1,815
NOPAT Margin		 7.40% 7.99% 6.89% -7.26% 7.57% 9.12% 1.10% 8.13% 7.58% 8.32% 8.41%
Net Nonoperating Expense Percent (NNEP)		 -0.52% -0.39% -0.34% -0.15% 0.11% 0.05% 0.12% 0.30% 0.22% 0.17% 0.24%
Return On Investment Capital (ROIC_SIMPLE)		 1.26% - - - 1.43% - - - 1.59% 1.61% 1.71%
Cost of Revenue to Revenue		 80.29% 79.27% 79.27% 94.70% 79.88% 81.55% 81.85% 79.92% 80.41% 79.73% 79.72%
SG&A Expenses to Revenue		 7.35% 7.92% 8.74% 10.41% 7.25% 7.22% 7.35% 6.91% 7.28% 7.13% 7.29%
R&D to Revenue		 3.96% 3.53% 3.98% 5.29% 3.80% 3.47% 3.58% 3.74% 3.74% 3.14% 3.23%
Operating Expenses to Revenue		 11.14% 10.93% 12.58% 15.67% 11.20% 8.76% 15.47% 9.99% 9.82% 10.25% 10.33%
Earnings before Interest and Taxes (EBIT)		 1,551 1,687 1,940 -1,396 1,777 1,870 529 2,028 2,111 2,401 2,146
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,599 2,721 2,984 -322 2,836 2,929 1,601 3,122 3,250 3,453 3,222
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.94 1.90 1.91 1.47 1.98 2.29 2.25 2.64 2.56 2.87 3.13
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)		 2.11 2.01 1.96 1.52 1.72 1.95 1.83 2.04 1.91 2.16 2.33
Price to Earnings (P/E)		 27.18 24.93 24.92 32.01 37.00 39.87 58.69 34.16 32.26 38.36 31.74
Dividend Yield		 2.25% 2.33% 2.36% 3.25% 2.82% 2.45% 2.40% 2.01% 2.14% 1.90% 1.76%
Earnings Yield		 3.68% 4.01% 4.01% 3.12% 2.70% 2.51% 1.70% 2.93% 3.10% 2.61% 3.15%
Enterprise Value to Invested Capital (EV/IC)		 1.69 1.63 1.64 1.32 1.59 1.79 1.76 2.02 1.96 2.16 2.31
Enterprise Value to Revenue (EV/Rev)		 2.52 2.45 2.41 1.99 2.28 2.50 2.36 2.51 2.37 2.62 2.80
Enterprise Value to EBITDA (EV/EBITDA)		 14.67 16.43 16.32 17.73 20.21 22.25 24.22 18.92 17.57 19.39 18.46
Enterprise Value to EBIT (EV/EBIT)		 22.83 27.53 27.22 40.06 44.12 47.42 61.37 31.98 29.29 31.99 28.14
Enterprise Value to NOPAT (EV/NOPAT)		 35.21 32.42 32.46 45.12 50.07 50.40 67.21 38.43 36.19 41.18 34.55
Enterprise Value to Operating Cash Flow (EV/OCF)		 23.55 28.86 32.34 17.13 19.93 19.54 15.37 19.24 26.75 26.40 40.04
Enterprise Value to Free Cash Flow (EV/FCFF)		 52.14 101.02 0.00 76.55 36.03 24.91 17.47 25.18 30.23 42.09 108.67
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.43 0.46 0.48 0.49 0.71 0.69 0.69 0.67 0.67 0.65 0.65
Long-Term Debt to Equity		 0.41 0.44 0.44 0.46 0.69 0.68 0.66 0.62 0.63 0.60 0.60
Financial Leverage		 0.33 0.36 0.39 0.40 0.46 0.48 0.49 0.49 0.59 0.58 0.59
Leverage Ratio		 2.15 2.16 2.20 2.24 2.36 2.36 2.40 2.44 2.63 2.59 2.63
Compound Leverage Factor		 2.36 2.33 1.82 2.12 2.31 2.33 1.94 2.29 2.50 2.11 2.50
Debt to Total Capital		 30.07% 31.68% 32.30% 33.11% 41.63% 40.81% 40.99% 40.14% 39.97% 39.47% 39.52%
Short-Term Debt to Total Capital		 1.15% 1.62% 2.40% 2.40% 1.40% 0.49% 1.80% 3.17% 2.46% 2.92% 3.50%
Long-Term Debt to Total Capital		 28.92% 30.05% 29.90% 30.70% 40.23% 40.33% 39.19% 36.97% 37.52% 36.55% 36.02%
Preferred Equity to Total Capital		 0.24% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.49% 1.46% 1.47% 1.55% 1.56% 1.57% 1.65% 1.66% 1.75% 1.75% 1.74%
Common Equity to Total Capital		 68.67% 66.86% 66.23% 65.34% 56.80% 57.62% 57.36% 58.20% 58.28% 58.79% 58.74%
Debt to EBITDA		 2.77 3.37 3.39 4.68 5.64 5.37 5.98 4.02 3.78 3.73 3.31
Net Debt to EBITDA		 2.23 2.79 2.87 3.96 4.79 4.67 5.13 3.38 3.27 3.27 2.93
Long-Term Debt to EBITDA		 2.67 3.20 3.14 4.34 5.45 5.31 5.72 3.70 3.55 3.46 3.02
Debt to NOPAT		 6.66 6.65 6.74 11.91 13.97 12.16 16.61 8.17 7.80 7.93 6.19
Net Debt to NOPAT		 5.36 5.51 5.72 10.06 11.87 10.57 14.24 6.87 6.74 6.94 5.49
Long-Term Debt to NOPAT		 6.40 6.30 6.24 11.04 13.50 12.02 15.88 7.52 7.32 7.34 5.65
Altman Z-Score		 1.94 1.91 1.90 1.51 1.63 1.82 1.70 1.91 1.91 2.05 2.14
Noncontrolling Interest Sharing Ratio		 1.99% 2.12% 2.19% 2.26% 2.20% 2.37% 2.45% 2.53% 2.79% 2.77% 2.84%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.09 1.13 1.10 1.03 1.04 1.07 0.99 0.99 0.99 1.01 1.01
Quick Ratio		 0.39 0.40 0.37 0.34 0.37 0.35 0.33 0.32 0.32 0.32 0.32
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -217 -2,148 -4,112 -2,193 2,732 5,365 7,444 4,350 2,683 1,576 -2,807
Operating Cash Flow to CapEx		 541.29% -165.96% 136.69% 587.94% 585.22% 73.23% 508.94% 457.07% 146.02% 254.39% 86.42%
Free Cash Flow to Firm to Interest Expense		 -0.68 -6.82 -12.35 -5.94 5.60 13.25 15.67 8.77 5.52 0.00 0.00
Operating Cash Flow to Interest Expense		 14.55 -2.74 2.16 8.99 9.65 0.84 5.75 5.09 3.21 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 11.86 -4.39 0.58 7.46 8.00 -0.31 4.62 3.97 1.01 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.42 0.43 0.44 0.42 0.43 0.44 0.45 0.48 0.50 0.50 0.51
Accounts Receivable Turnover		 7.15 7.16 6.95 6.96 6.91 6.98 7.19 7.84 7.40 7.53 7.39
Inventory Turnover		 5.40 5.17 5.07 4.93 5.08 4.97 4.84 5.01 5.32 5.06 4.94
Fixed Asset Turnover		 4.45 4.57 4.70 4.47 4.46 4.61 4.67 5.06 5.07 5.15 5.24
Accounts Payable Turnover		 5.73 5.95 5.65 5.74 5.52 5.73 5.75 5.77 5.54 5.49 5.48
Days Sales Outstanding (DSO)		 51.07 50.95 52.49 52.48 52.82 52.30 50.79 46.54 49.31 48.46 49.42
Days Inventory Outstanding (DIO)		 67.64 70.59 71.95 74.04 71.91 73.44 75.48 72.92 68.57 72.15 73.88
Days Payable Outstanding (DPO)		 63.72 61.39 64.55 63.64 66.13 63.74 63.49 63.30 65.91 66.50 66.55
Cash Conversion Cycle (CCC)		 54.99 60.15 59.89 62.88 58.60 61.99 62.78 56.16 51.96 54.12 56.75
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 99,908 102,978 104,049 101,050 98,685 99,374 96,821 98,333 97,641 99,487 101,443
Invested Capital Turnover		 0.68 0.68 0.70 0.67 0.69 0.70 0.72 0.79 0.82 0.82 0.84
Increase / (Decrease) in Invested Capital		 1,556 3,524 5,375 1,216 -1,223 -3,604 -7,228 -2,717 -1,044 113 4,622
Enterprise Value (EV)		 168,773 168,252 170,168 133,596 157,096 177,547 170,595 198,391 191,510 214,424 234,121
Market Capitalization		 141,247 138,069 138,599 102,142 118,209 138,658 132,759 161,172 154,025 176,453 195,076
Book Value per Share		 $49.57 $49.69 $49.61 $47.82 $41.59 $45.49 $44.37 $45.94 $45.20 $46.18 $46.71
Tangible Book Value per Share		 ($12.10) ($12.00) ($12.23) ($13.85) ($20.38) ($21.15) ($21.71) ($20.15) ($19.59) ($18.50) ($17.72)
Total Capital		 106,128 108,871 109,440 106,506 105,272 104,981 102,832 105,015 103,219 104,644 106,225
Total Debt		 31,914 34,486 35,353 35,260 43,827 42,844 42,151 42,156 41,261 41,300 41,978
Total Long-Term Debt		 30,694 32,717 32,723 32,701 42,355 42,334 40,303 38,823 38,726 38,244 38,259
Net Debt		 25,694 28,593 29,962 29,804 37,240 37,237 36,140 35,474 35,683 36,143 37,196
Capital Expenditures (CapEx)		 855 520 526 564 805 467 537 552 1,069 513 530
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1,671 1,252 1,394 -1,381 -3,459 -2,093 -4,503 -3,832 -3,409 -1,809 -738
Debt-free Net Working Capital (DFNWC)		 4,549 7,145 6,785 4,075 3,128 3,514 1,508 2,850 2,169 3,348 4,044
Net Working Capital (NWC)		 3,329 5,376 4,155 1,516 1,656 3,004 -340 -483 -366 292 325
Net Nonoperating Expense (NNE)		 -129 -105 -96 -44 36 18 41 98 79 64 90
Net Nonoperating Obligations (NNO)		 25,694 28,593 29,962 29,804 37,240 37,237 36,140 35,474 35,683 36,143 37,196
Total Depreciation and Amortization (D&A)		 1,048 1,034 1,044 1,074 1,059 1,059 1,072 1,094 1,139 1,052 1,076
Debt-free, Cash-free Net Working Capital to Revenue		 -2.49% 1.83% 1.98% -2.06% -5.02% -2.95% -6.22% -4.85% -4.22% -2.21% -0.88%
Debt-free Net Working Capital to Revenue		 6.78% 10.42% 9.61% 6.07% 4.54% 4.95% 2.08% 3.61% 2.69% 4.10% 4.84%
Net Working Capital to Revenue		 4.96% 7.84% 5.89% 2.26% 2.40% 4.23% -0.47% -0.61% -0.45% 0.36% 0.39%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.97 $0.98 $0.91 ($0.68) $1.03 $1.29 $0.08 $1.10 $1.11 $1.15 $1.24
Adjusted Weighted Average Basic Shares Outstanding		 1.48B 1.46B 1.46B 1.44B 1.43B 1.33B 1.33B 1.33B 1.33B 1.34B 1.34B
Adjusted Diluted Earnings per Share		 $0.96 $0.97 $0.90 ($0.68) $1.04 $1.28 $0.08 $1.09 $1.10 $1.14 $1.22
Adjusted Weighted Average Diluted Shares Outstanding		 1.49B 1.46B 1.46B 1.44B 1.44B 1.33B 1.33B 1.33B 1.34B 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		 1.46B 1.46B 1.46B 1.44B 1.33B 1.33B 1.33B 1.33B 1.33B 1.34B 1.34B
Normalized Net Operating Profit after Tax (NOPAT)		 1,339 1,376 1,263 -977 1,509 1,761 370 1,633 1,639 1,689 1,815
Normalized NOPAT Margin		 7.40% 7.99% 6.89% -7.26% 7.57% 9.12% 1.88% 8.13% 7.58% 8.32% 8.41%
Pre Tax Income Margin		 9.40% 10.55% 8.77% -9.82% 8.71% 9.59% 2.17% 9.49% 9.29% 9.64% 9.45%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 4.88 5.36 5.83 -3.78 3.64 4.62 1.11 4.09 4.34 0.00 0.00
NOPAT to Interest Expense		 4.21 4.37 3.79 -2.65 3.09 4.35 0.46 3.29 3.37 0.00 0.00
EBIT Less CapEx to Interest Expense		 2.19 3.70 4.25 -5.31 1.99 3.46 -0.02 2.98 2.14 0.00 0.00
NOPAT Less CapEx to Interest Expense		 1.52 2.72 2.21 -4.18 1.44 3.19 -0.68 2.18 1.17 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 58.93% 55.84% 56.44% 96.68% 95.83% 88.36% 130.07% 64.60% 64.17% 67.17% 52.37%
Augmented Payout Ratio		 111.74% 101.99% 94.70% 185.42% 476.60% 427.84% 610.62% 281.34% 73.03% 76.12% 58.48%

Key Financial Trends

RTX Corp Financial Highlights and Trends (from Q3 2022 to Q2 2025)

RTX Corp has shown consistent financial growth and operational strength over the last four years, with several key trends observable in its income statements, balance sheets, and cash flow statements.

  • Consolidated net income increased from -$933 million in Q3 2023 to $1.725 billion in Q2 2025, indicating a strong turnaround and profitability growth.
  • Operating revenue steadily grew from approximately $13.46 billion in Q3 2023 to over $21.58 billion in Q2 2025, reflecting expanding sales and business scale.
  • Gross profit increased from $714 million in Q3 2023 to $4.38 billion in Q2 2025, showing improved margin and efficient cost control relative to revenue growth.
  • Net income attributable to common shareholders rose from a loss of $984 million in Q3 2023 to a profit of $1.657 billion by Q2 2025, signaling strong shareholder value creation.
  • Cash and equivalents improved from about $5.46 billion in Q3 2023 to $4.78 billion in Q2 2025, maintaining healthy liquidity levels despite investments and debt repayments.
  • RTX reduced total liabilities from around $101.96 billion at Q3 2023 to approximately $102.89 billion at Q2 2025 but improved equity to $62.4+ billion, indicating stronger capitalization and financial stability.
  • Robust operating cash flow with net cash from operating activities at $458 million in Q2 2025, after higher operating income and efficient working capital management.
  • Capital expenditures remain significant, with property, plant & equipment purchases around $500-$800 million quarterly, illustrating ongoing investment in asset base needed for growth.
  • Dividends per share increased steadily from $0.55 in Q1 2023 to $1.36 in Q2 2025, reflecting consistent return of capital to shareholders aligned with earnings growth.
  • Debt levels showed fluctuations with both repayments and issuances, with long-term debt approximately stable near $38 billion, suggesting balanced leverage strategy.
  • Changes in operating assets and liabilities presented some volatility, e.g., large negative impacts in Q2 2025 (-$1.8 billion), which temporarily pressured cash flow from operations.
  • Non-cash adjustments to net income show variability, indicating some complex accounting or write-offs impacting cash reconciliations.
  • Other noncurrent liabilities remain sizeable, around $8-$9 billion, which could indicate potential contingent liabilities or other obligations.

Summary: RTX Corp has demonstrated strong revenue and earnings growth from 2023 to mid-2025, reversing prior losses to solid profitability. The company maintains healthy liquidity and invests heavily in its operational assets while managing debts prudently. Dividend payouts have increased substantially, rewarding shareholders in line with earnings gains. While certain volatility in working capital and other non-cash items create short-term cash flow fluctuations, the overall financial position reflects growing stability and strength. RTX appears well-positioned for ongoing operational success and shareholder value creation.

08/24/25 04:26 AMAI 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 10 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 $6.62 billion in 2014. 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 10 years?

Over the last 10 years, RTX's total revenue changed from $57.90 billion in 2014 to $80.74 billion in 2024, a change of 39.4%.

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 72.5% increase since 2014.

How much cash does RTX have?

In the past 10 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 10 years?

Over the last 10 years, RTX's book value per share changed from 34.24 in 2014 to 45.20 in 2024, a change of 32.0%.


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This page (NYSE:RTX) was last updated on 8/24/2025 by MarketBeat.com Staff
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