RTX Corporation (RTX) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$1.66	$1.89	+13.9%	—	—	—
Q4 26	$1.52	$1.78	+17.1%	—	—	—
Q3 26	$1.47	$1.55	+5.4%	—	—	—
Q2 26	$1.41	$1.7	+20.6%	—	—	—
Q1 26	$1.43	$1.56	+9.1%	—	—	—
Q4 25	$1.37	$1.47	+7.3%	—	—	—
Q3 25	$1.38	$1.29	-6.5%	—	—	—
Q2 25	$1.34	$1.45	+8.2%	—	—	—
Q1 25	$1.3	$1.41	+8.5%	—	—	—
Q4 24	$1.23	$1.34	+8.9%	—	—	—
Q3 24	$1.25	$1.29	+3.2%	—	—	—
Q2 24	$1.22	$1.25	+2.5%	—	—	—
Q1 24	$1.18	$1.29	+9.3%	—	—	—
Q4 23	$1.13	$1.22	+8.0%	—	—	—
Q3 23	$1.25	$1.27	+1.6%	—	—	—
Q2 23	$1.14	$1.21	+6.1%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$5.02	—	—	$88.6B	—
FY24	—	$3.58	—	—	$80.7B	—
FY23	—	$2.24	—	—	$68.9B	—
FY22	—	$3.52	—	—	$67.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$57.2B	$59.8B	$34.7B	$45.3B	$56.6B	$64.4B	$67.1B	$68.9B	$80.7B	$88.6B
YoY change	+2.04%	+4.53%	-42%	+30.7%	+24.8%	+13.8%	+4.17%	+2.75%	+17.1%	+9.74%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	57.2B	59.8B	34.7B	45.3B	56.6B	64.4B	67.1B	68.9B	80.7B	88.6B
Cost of revenue	41.5B	44.2B	27.5B	34.6B	48.1B	51.9B	53.4B	56.8B	65.3B	70.8B
Gross profit	15.8B	15.6B	7.2B	10.8B	8.5B	12.5B	13.7B	12.1B	15.4B	17.8B
Gross margin	27.6%	26.1%	20.9%	23.7%	15.1%	19.4%	20.4%	17.5%	19.1%	20.1%
Research & development	2.4B	2.4B	1.9B	2.5B	2.6B	2.7B	2.7B	2.8B	2.9B	2.8B
Selling, general & administrative	6B	6.4B	2.9B	3.7B	5.5B	3.1B	3.7B	4B	5.8B	6.1B
Operating expenses	7.6B	7.5B	4.4B	5.8B	7.2B	5.4B	6.3B	6.7B	8.9B	8.5B
Operating income	8.2B	8.1B	2.9B	4.9B	1.3B	7.1B	7.4B	5.3B	6.5B	9.3B
Operating margin	14.4%	13.6%	8.29%	10.8%	2.29%	11%	11%	7.75%	8.1%	10.5%
Non-operating income, net	-49M	534M	659M	829M	-2.3B	-677M	-46M	48M	1.5B	1.2B
Pretax income	7.1B	7.8B	2.5B	4.2B	-2.4B	5.1B	6.1B	3.8B	6.2B	8.7B
Income tax	1.7B	2.8B	1.1B	421M	575M	964M	790M	456M	1.2B	1.7B
Net income	5.4B	4.9B	5.5B	5.9B	-3.3B	4.1B	5.3B	3.4B	5B	7.1B
Net margin	9.48%	8.22%	15.7%	13.1%	-5.82%	6.39%	7.91%	4.9%	6.21%	7.98%
EBITDA	10.3B	10.9B	5.6B	8.6B	6.4B	11.6B	11.5B	9.7B	12.5B	14.9B
EPS	6.18	5.76	6.58	6.48	-2.59	2.57	3.52	2.24	3.58	5.02
Diluted EPS	6.12	5.7	6.5	6.41	-2.59	2.56	3.5	2.23	3.55	4.96

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	13.5B	19.9B	19.3B	19.7B	20.1B	21.6B	20.3B	21.6B	22.5B	24.2B	22.1B	24.7B
Cost of revenue	12.8B	15.9B	15.7B	16.1B	16.1B	17.4B	16.2B	17.2B	17.9B	19.5B	17.5B	19.6B
Gross profit	714M	4B	3.6B	3.6B	4B	4.2B	4.1B	4.4B	4.6B	4.7B	4.6B	5.1B
Gross margin	5.3%	20.1%	18.4%	18.2%	20.1%	19.6%	20.3%	20.3%	20.4%	19.5%	20.8%	20.8%
Research & development	712M	757M	669M	706M	751M	808M	637M	697M	684M	789M	627M	726M
Selling, general & administrative	1.4B	-335M	1B	1.4B	1.4B	1.6B	1.4B	1.6B	1.4B	1.6B	1.5B	1.7B
Operating expenses	2.1B	452M	1.3B	3.1B	2B	2.1B	2.1B	2.2B	2.1B	2.1B	2B	2.3B
Operating income	-1.4B	3.6B	2.3B	529M	2B	2.1B	2B	2.1B	2.5B	2.6B	2.6B	2.8B
Operating margin	-10.4%	17.9%	11.7%	2.68%	10.1%	9.76%	10%	9.94%	11.2%	10.7%	11.6%	11.4%
Non-operating income, net	446M	-1.3B	4M	368M	381M	385M	374M	346M	352M	98M	347M	326M
Pretax income	-1.3B	1.7B	1.9B	428M	1.9B	2B	2B	2B	2.4B	2.3B	2.5B	2.7B
Income tax	-389M	262M	108M	253M	371M	449M	333M	315M	432M	584M	363M	493M
Net income	-933M	1.5B	1.7B	175M	1.5B	1.6B	1.6B	1.7B	2B	1.7B	2.2B	2.2B
Net margin	-6.93%	7.39%	9.03%	0.89%	7.64%	7.21%	8%	7.99%	8.92%	7.07%	9.77%	9.1%
EBITDA	143M	3.3B	3.3B	2B	3.5B	3.7B	3.5B	3.6B	4B	3.8B	4B	4.2B
EPS	-0.68	1.05	1.29	0.08	1.1	1.11	1.15	1.24	1.43	1.21	1.53	1.58
Diluted EPS	-0.68	1.05	1.28	0.08	1.09	1.1	1.14	1.22	1.41	1.19	1.51	1.57

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	56.4B	63.4B	53.6B	80.6B	—	—	148.9B	120B	154.2B	246B	252.9B
Enterprise value	73.2B	81.9B	93B	120B	—	—	176.2B	158.6B	191.5B	278.1B	287.6B
Shares outstanding	818M	790M	800M	855M	1.4B	1.5B	1.5B	1.4B	1.3B	1.3B	1.3B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	10.4	12.9	9.82	13.5	—	—	28.1	35.5	30.8	34.8	33.1
P/S	0.99	1.06	1.54	1.78	—	—	2.22	1.74	1.91	2.78	2.71
P/B	1.92	2.01	1.32	1.82	—	—	2.01	1.95	2.49	3.66	3.82
EV/EBITDA	7.13	7.5	16.7	14	—	—	15.3	16.4	15.3	18.6	18.1
EV/Sales	1.28	1.37	2.68	2.65	—	—	2.63	2.3	2.37	3.14	3.08
Earnings yield	9.62%	7.76%	10.2%	7.38%	—	—	3.56%	2.82%	3.25%	2.87%	3.02%
FCF yield	3.18%	5.1%	8.31%	8.27%	—	—	2.95%	3.93%	2.54%	3.03%	3.91%
PEG	—	—	—	—	—	—	—	—	—	—	1.21

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	27.6%	26.1%	20.9%	23.7%	15.1%	19.4%	20.4%	17.5%	19.1%	20.1%	20.8%
Operating margin	14.4%	13.6%	8.29%	10.8%	2.29%	11%	11%	7.75%	8.1%	10.5%	12.7%
Net margin	9.48%	8.22%	15.7%	13.1%	-5.82%	6.39%	7.91%	4.9%	6.21%	7.98%	8.28%
ROE	18.4%	15.6%	13.4%	13.4%	-4.46%	5.5%	7.15%	5.5%	8.09%	10.5%	12.3%
ROA	6.05%	5.08%	4.07%	4.26%	-2.03%	2.55%	3.34%	2.09%	3.08%	4.13%	4.21%
ROIC	13.6%	10.3%	2.02%	5.27%	1.31%	5.74%	6.34%	4.7%	5.33%	7.59%	8.63%
Return on tangible assets	128.6%	52.7%	-36.7%	34.1%	12%	-16.8%	-23.6%	-20.7%	-52.2%	1K%	134.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.3	1.35	1.13	1.32	1.21	1.19	1.09	1.04	0.99	1.03	1.01
Quick ratio	0.91	0.94	0.81	1.13	0.95	0.93	0.81	0.78	0.74	0.8	0.78
Debt / equity	0.81	0.87	1.12	1	0.45	0.44	0.45	0.74	0.69	0.59	0.57
Debt / assets	0.27	0.28	0.34	0.32	0.21	0.21	0.21	0.28	0.26	0.23	0.22
Net debt / EBITDA	1.63	1.69	7.06	4.6	3.84	2.17	2.37	3.98	2.98	2.15	1.9
Interest coverage	7.14	8.63	3.12	3.43	-0.67	4.84	5.71	3.32	4.14	5.76	6.93
Effective tax rate	23.8%	36.6%	43.8%	10.1%	0%	18.9%	12.9%	11.9%	19.1%	19.1%	18.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	70	75.7	43.4	53	41.7	42.9	45.5	48.3	60.6	66.1	69.4
EPS (basic)	6.18	5.76	6.58	6.48	-2.59	2.57	3.52	2.24	3.58	5.02	5.02
EPS (diluted)	6.12	5.7	6.5	6.41	-2.59	2.56	3.5	2.23	3.55	4.96	5.68
Book value per share	36	39.9	50.9	51.8	54.4	49.7	50.3	43.1	46.5	50.1	49.3
FCF per share	2.19	4.1	5.57	7.79	1.21	3.08	2.98	3.31	2.94	5.55	8.05
Cash per share	8.75	11.4	7.69	5.77	6.48	5.22	4.22	4.62	4.19	5.54	6.16
Capex per share	—	—	—	—	—	—	—	—	—	1.96	2.05

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	2.96%	2.99%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	24.9%	19.7%
Payout ratio	38.1%	42.2%	39.8%	41.1%	-82.9%	71.9%	58.9%	95.8%	64.2%	50.6%	48.8%
Dividend yield	3.67%	3.27%	4.05%	3.03%	—	—	2.1%	2.7%	2.09%	1.45%	1.56%

Yield

1.56%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.73

ex-dividend Aug 14, 2026

Payout ratio

49%

of earnings

Dividend growth

12 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 14, 2026	$0.73
May 22, 2026	$0.73
Feb 20, 2026	$0.68

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$13.5B	$19.9B	$19.3B	$19.7B	$20.1B	$21.6B	$20.3B	$21.6B	$22.5B	$24.2B	$22.1B	$24.7B
YoY change	-20.6%	+10.1%	+12.1%	+7.68%	+49.2%	+8.51%	+5.19%	+9.43%	+11.9%	+12.1%	+8.72%	+14.5%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	7.2B	9B	6.2B	4.9B	8.8B	7.8B	6.2B	6.6B	5.6B	7.4B
Receivables	11.5B	12.6B	14.3B	8.7B	9.3B	9.7B	9.1B	10.8B	11B	14.7B
Inventory	8.7B	9.9B	10.1B	9B	9.4B	9.2B	10.6B	11.8B	12.8B	13.4B
Total current assets	28.6B	32.9B	35.5B	61.6B	43.4B	42B	42.4B	48.4B	51.1B	60.3B
Property, plant & equipment	4B	4.5B	5.8B	6.6B	9.8B	9.7B	9.5B	9.2B	9.3B	9.6B
Goodwill & intangibles	85.5B	87.6B	149.1B	122.2B	189.6B	185.9B	181.3B	178.2B	172.5B	170.4B
Total assets	89.7B	96.9B	134.2B	139.6B	162.2B	161.4B	158.9B	161.9B	162.9B	171.1B
Accounts payable	7.5B	9.6B	11.1B	7.8B	8.6B	8.8B	9.9B	10.7B	12.9B	15.9B
Short-term debt	2.2B	2.5B	4.3B	5.6B	797M	158M	1.2B	1.5B	2.5B	3.6B
Total current liabilities	21.9B	24.4B	31.4B	46.6B	35.8B	35.4B	39.1B	46.8B	51.5B	58.8B
Long-term debt	21.7B	25B	41.2B	38.8B	32.5B	33B	32.3B	43.8B	40.4B	35.9B
Total liabilities	60.2B	65.4B	93.5B	95.3B	88.3B	86.7B	84.7B	100.4B	100.9B	103.9B
Shareholders' equity	29.5B	31.6B	40.7B	44.3B	73.9B	74.7B	74.2B	61.4B	62B	67.1B
Total debt	23.9B	27.5B	45.5B	44.3B	33.3B	33.1B	33.5B	45.2B	42.9B	39.5B
Net debt	16.7B	18.5B	39.4B	39.4B	24.5B	25.3B	27.3B	38.7B	37.3B	32.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	5.5B	6.6B	5.6B	6B	6.7B	5.6B	5.2B	4.8B	6B	7.4B	6.8B	8.3B
Receivables	10.1B	10.8B	10.3B	10.3B	10.1B	11B	11.4B	12.4B	12.8B	14.7B	12.9B	13.9B
Inventory	12.1B	11.8B	12.4B	13B	13.5B	12.8B	13.6B	14B	13.8B	13.4B	14.2B	14.4B
Total current assets	46.5B	48.4B	48B	49.2B	51.8B	51.1B	52.9B	54.7B	57.1B	60.3B	60B	63.9B
Property, plant & equipment	17.1B	9.2B	17.3B	17.4B	17.7B	9.3B	18B	18.1B	18.2B	9.6B	18.6B	18.7B
Goodwill & intangibles	179.5B	178.2B	177.2B	175.7B	175.8B	172.5B	172.3B	172.2B	171.1B	170.4B	169.5B	167.9B
Total assets	162.4B	161.9B	160.2B	161.2B	164.8B	162.9B	164.9B	167.1B	168.7B	171.1B	170.4B	174B
Accounts payable	10.3B	10.7B	10.5B	10.9B	11.8B	12.9B	13.4B	13.4B	14.6B	15.9B	16B	17B
Short-term debt	2.6B	1.5B	510M	1.8B	3.3B	2.5B	3.1B	3.7B	799M	3.6B	4.4B	5.5B
Total current liabilities	45B	46.8B	45B	49.6B	52.2B	51.5B	52.6B	54.3B	53.2B	58.8B	58.6B	63.2B
Long-term debt	34.2B	43.8B	43.7B	41.7B	40.4B	40.4B	39.9B	39.9B	39.9B	35.9B	34.5B	33.3B
Total liabilities	91.2B	100.4B	98B	100.5B	102B	100.9B	101.5B	102.9B	102.3B	103.9B	102.4B	105.8B
Shareholders' equity	71.2B	61.4B	62.1B	60.7B	62.9B	62B	63.3B	64.2B	66.4B	67.1B	68B	68.1B
Total debt	36.8B	45.2B	44.3B	43.6B	43.7B	42.9B	42.9B	43.6B	40.7B	39.5B	38.9B	38.9B
Net debt	31.3B	38.7B	38.6B	37.6B	37.1B	37.3B	37.8B	38.8B	34.7B	32.1B	32.1B	30.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	5.4B	4.9B	1.4B	3.7B	-2.9B	4.1B	5.3B	3.4B	5B	7.1B
Depreciation & amortization	2B	2.1B	1.9B	2.7B	4.2B	4.6B	4.1B	4.2B	4.4B	4.4B
Stock-based compensation	152M	192M	169M	268M	330M	442M	420M	425M	437M	1.1B
Change in working capital	-1.6B	-44M	-2.5B	-1.6B	2.5B	-1.2B	-1.6B	-2.5B	-2.6B	-4.7B
Operating cash flow	6B	4.2B	324M	5.3B	3.2B	7B	6.5B	5.4B	7.4B	10.6B
Capital expenditure	—	—	—	—	—	—	—	—	—	-2.6B
Investing cash flow	-422M	-625M	-15.4B	-457M	5.3B	1.1B	-54M	127M	1.7B	-773M
Dividends paid	-2.1B	-2.1B	-2.2B	-2.4B	-2.7B	-3B	-3.1B	-3.2B	-3.2B	-3.6B
Share repurchases	-2.3B	-1.5B	-325M	-151M	-47M	-2.3B	-2.8B	-12.9B	-444M	-50M
Financing cash flow	-1.5B	-1B	8.2B	-4.2B	-19B	-6.7B	-5.9B	-4.5B	-6.6B	-7.5B
Net change in cash	4B	2.6B	-6.9B	580M	-10.5B	1.4B	593M	1B	2.5B	2.3B
Free cash flow	1.8B	3.2B	4.5B	6.7B	1.6B	4.6B	4.4B	4.7B	3.9B	7.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-933M	1.5B	1.7B	175M	1.5B	1.6B	1.6B	1.7B	2B	1.7B	2.2B	2.2B
Depreciation & amortization	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.2B	1.1B	1.1B
Stock-based compensation	107M	106M	112M	29M	-41M	109M	278M	253M	241M	320M	324M	311M
Change in working capital	-125M	1.5B	-1.5B	-30M	-766M	-325M	-1.6B	-1.6B	-996M	-415M	-344M	-1.8B
Operating cash flow	131M	4.5B	1.3B	1.6B	1.8B	2.7B	1.2B	1.3B	4.6B	4.2B	1.9B	3.5B
Capital expenditure	—	—	—	—	—	—	—	—	-614M	-970M	-546M	-669M
Investing cash flow	-10M	42M	1.3B	-13M	-66M	814M	-61M	-49M	592M	-171M	-510M	-886M
Dividends paid	-838M	-767M	-769M	-823M	-823M	-802M	-840M	-910M	-910M	-914M	-915M	-983M
Share repurchases	-1.4B	-10.3B	-56M	-44M	-294M	-50M	-50M	0	0	0	0	0
Financing cash flow	-2.4B	-2.6B	-2B	-1.6B	-1.2B	-1.9B	-1.1B	-381M	-3.9B	-2.2B	-1.8B	-1.1B
Net change in cash	-2.3B	1.9B	629M	1M	543M	1.7B	115M	878M	1.3B	1.8B	-495M	1.6B
Free cash flow	2.5B	3.7B	-288M	2B	1.8B	328M	688M	-194M	3.9B	3B	1.2B	2.8B

Date	Ratio
Apr 3, 2020	15890:10000
Jun 13, 2005	2:1
May 18, 1999	2:1
Dec 11, 1996	2:1
Jun 11, 1984	2:1
May 19, 1976	2:1

RTX Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history