FirmAtlas
Company handbook · RTX · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
RTX · CIK 101829 · LATEST FILING: 10-Q JUN '26 · FILED JUL 23, 2026
RTX Corporation
$193.92
+6.97 (+3.73%)
Close, Oct 16, 2026 · 52-week $156–227
Last fiscal year
RTX Corporation reported revenue of $88.6B for the year ended Dec 31, 2025 (FY25), up 9.7% from FY24. Net income was $6.7B, operating cash flow $10.6B and free cash flow $7.9B. Source: 10-K filed Feb 6, 2026.
Market cap
$263.0B
P/E
34.0
EV/EBITDA
21.1x
P/B
4.0
Div yield
1.45%
ROIC
8.2%
Revenue 1Y
9.7%/yr
EPS 1Y
39.7%/yr
Shares 1Y
+1.0%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOChristopher T. Calio
HQArlington, VA
AuditorPricewaterhouseCoopers LLP
Employees180,000
Year endsDecember
Revenue by segment · FY25
Pratt And Whitney37%
UTC Aerospace Systems34%
Raytheon32%
All Other Segments-3%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
6.8%
16.4%
37.9%
23.5%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$12.5B deployed
Capex
$5.3B
41.9%
Dividends
$6.8B
54.2%
Buybacks
$494M
3.9%
Operating cash flow over the period: $17.7B. Total debt changed by −$4.4B. R&D of $5.7B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Per-share figures are split-adjusted (2-for-1 split after FY19).
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
80,738
88,603+9.7%
93,500
YoY
+9.7%
Operating income
6,538
9,300+42.2%
10,485
Operating margin
8.1%
10.5%+2.4 pp
—
EBITDA
10,902
13,678+25.5%
—
EBITDA margin
13.5%
15.4%+1.9 pp
—
Interest expense
1,862
1,858−0.2%
—
Interest coverage
5.85x
7.36x+1.51x
—
Net income
4,774
6,732+41.0%
7,738
YoY
+41.0%
Net margin
5.9%
7.6%+1.7 pp
—
EPS (diluted, $)
3.55
4.96+39.7%
5.69
YoY
+39.7%
Balance sheet
Total assets
162,861
171,079+5.0%
173,972
Cash & short-term investments
6,392
8,220+28.6%
—
Accounts receivable
10,976
14,701+33.9%
—
Inventory
12,768
13,364+4.7%
—
Net PP&E
16,089
16,868+4.8%
—
Other assets
116,636
117,926+1.1%
—
Total liabilities
102,705
105,834+3.0%
107,595
Accounts payable
12,897
15,895+23.2%
—
Total debt
38,726
34,288−11.5%
31,858
Other liabilities
51,082
55,651+8.9%
—
Shareholders’ equity
60,156
65,245+8.5%
66,377
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
7,159
10,567+47.6%
14,206
Net income
5,013
7,069+41.0%
—
Depreciation & amortization
4,364
4,378+0.3%
—
Stock-based compensation
437
519+18.8%
—
Working capital & other
(2,655)
(1,399)n/m
—
Cash from investing
(1,534)
(1,265)n/m
—
Capex
(2,625)
(2,627)n/m
—
Other investing
1,091
1,362+24.8%
—
Cash from financing
(6,617)
(7,486)n/m
—
Debt raised
0
0n/m
—
Debt repaid
(2,500)
(3,429)n/m
—
Dividends
(3,217)
(3,574)n/m
—
Buybacks
(444)
(50)n/m
—
Shares issued
26
—
—
Other financing
(482)
(433)n/m
—
Net change in cash
(1,020)
1,864n/m
—
Free cash flow (OCF − capex)
4,534
7,940+75.1%
11,407
Where the cash went
Operating cash flow
7,159
10,567+47.6%
14,206
Reinvested in the business
2,625
2,627+0.1%
—
% of operating cash flow
36.7%
24.9%
Capex
2,625
2,627+0.1%
2,799
R&D (memo, already in costs)
2,934
2,807−4.3%
—
Free cash flow
4,534
7,940+75.1%
11,407
YoY
+75.1%
Returned to shareholders
3,661
3,624−1.0%
—
% of free cash flow
80.7%
45.6%
Dividends
3,217
3,574+11.1%
—
Buybacks
444
50−88.7%
—
Change in total debt
—
(4,438)
—
Cash left over
—
(122)
—
FCF conversion (FCF ÷ net income)
95.0%
117.9%+23.0 pp
—
Owner earnings
—
7,160
—
Owner earnings margin
—
8.1%
—
Buyback yield
0.3%
0.0%−0.3 pp
—
Returns & ratios
ROIC (all capital)
5.7%
8.2%+2.5 pp
—
ROIC (operating)
19.6%
26.9%+7.3 pp
—
Net debt / EBITDA
2.97x
1.91x−1.06x
—
Debt / equity
0.64x
0.53x−0.12x
—
Cash conversion cycle (days)
49
50+1 d
—
ROE
7.9%
10.3%+2.4 pp
—
ROA
2.9%
3.9%+1.0 pp
—
ROCE
5.9%
8.3%+2.4 pp
—
NOPAT
5,291
7,528+42.3%
—
Invested capital (operating)
26,936
29,038+7.8%
—
Invested capital (all)
92,490
91,313−1.3%
—
Reinvestment rate
—
27.9%
—
Debtor days
50
61+11 d
—
Inventory days
58
55−3 d
—
Days payable
58
65+7 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
22,478
24,238
22,076
24,708
vs year-ago quarter
Operating income
2,523
2,596
2,555
2,811
Net income
1,918
1,622
2,059
2,139
vs year-ago quarter
Net margin
8.5%
6.7%
9.3%
8.7%
EPS (diluted, $)
1.41
1.20
1.51
1.57
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
168,672
171,079
170,431
173,972
Cash & equivalents
6,004
8,220
6,871
8,392
Total debt
38,260
34,288
32,974
31,858
Shareholders’ equity
64,514
65,245
66,280
66,377
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
4,639
4,165
1,855
3,547
Capex
614
970
546
669
Free cash flow
4,025
3,195
1,309
2,878
vs year-ago quarter