— Know what they know.
/
Not Investment Advice

RTX

NYSE · USD
RTX Corporation
Industrials · Aerospace & Defense
CEO Christopher T. Calio Employees 180,000 R&D / revenue 3.2%
Last price
$193.92+3.73%last session
Market cap
$261.4B
P/E (TTM)
33.7x
From 52w high
−14.5%
From 52w low
+24.2%
1-year return
+24.0%
RSI 14 · vs SMA200
56.2 · −0.5%
IS score
62.1/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

RTX   SPY   XLI (sector ETF) · weekly closes
100110120130140Jan 26Apr 26Jul 26Oct 26RTX 124SPY 116XLI 111

Score DNA

Each bar is a 0-100 score within the scored universe
34
Profitability
66
Growth
45
Value
92
Momentum
65
Risk (safety)
74
Quality
55
Balance sheet
67
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ Congress buying
Warnings
▲ Share count rising
Observations
Moat model: Narrow, Efficient ScalePiotroski 8 / 9Altman Z 2.7Beta 0.293 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
6 open-market sales, $6.9M
Form 144 notices (12m): 15, $44.5M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
1
Last disclosed purchase 2026-03-27
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−7
219 new holders, 175 closed
3,428 filers hold 80.8% · 1,503 added, 1,282 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+258
1,210 funds adding shares
952 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
22.8%
20-day avg 36.9%, 50-day avg 39.9%
Latest 14.1 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$88.6B
Revenue growth YoY+9.7%
Gross margin20.1%
Operating income$8.9B
Operating margin10.0%
Net income$6.7B
Net margin7.6%
EPS (diluted)$4.96
Cash flow
Operating cash flow$10.6B
Capital expenditure$2.6B
Free cash flow$7.9B
FCF conversion (FCF / OCF)75.1%
Stock-based compensation$519.0M
FCF less SBC$7.4B
Buybacks$50.0M
Dividends$3.6B
Balance sheet & returns
Cash & short-term investments$7.4B
Total debt$37.9B
Net debt$30.5B
Shareholders' equity$67.1B
Goodwill & intangibles$85.2B
Debt / equity0.59
ROE (TTM)11.8%
ROIC (TTM)7.3%
Operating margin by fiscal year
7.3%FY20217.9%FY20225.0%FY20238.3%FY202410.4%FY2025
Revenue $64.4B (FY2021) to $88.6B (FY2025), a 8.3% CAGR.

Valuation

P/E (TTM)33.7x
EV / EBITDA18.2x
Price / sales2.80x
Price / FCF23.1x
FCF yield4.33%
Buyback yield0.02%
SBC / revenue0.6%
Price / book3.94x
Forward P/E FY202626.7x
Forward P/E FY202724.5x
Forward P/E FY202822.1x
Forward multiples divide today's price by Street EPS estimates. Street mean target $232.53 across 15 analysts last quarter is theirs, not ours.

RTX vs industry median

197 companies in Aerospace & Defense
Gross margin 20.3% 22.1% Operating margin 11.2% 4.5% Net margin 8.3% 1.2% ROIC 7.3% 7.2%
RTX (TTM)Industry median Asset turnover 0.54 vs industry 0.57 · financial leverage 2.62

Earnings delivery

Next report 2026-10-20 · consensus EPS $1.78
100%
beat rate, 12 of 12 quarters
+8.7%
median EPS surprise
12
longest beat streak
+10+5+4+9+8+8+12+9+8+21+5+18
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-07-25 to 2026-04-21. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
RTX RTX Corporation $261.4B33.7x11.8%8.3%+9.7% +24.0%
GE GE Aerospace $325.6B36.8x48.8%17.8%+21.8% +5.2%
BA The Boeing Company $150.3B71.2x173.6%-1.8%+24.8% −10.3%
LMT Lockheed Martin Corporation $127.4B20.3x89.2%9.2%+7.2% +12.7%
GD General Dynamics Corporation $93.1B20.7x17.8%8.2%+9.1% +4.1%
HWM Howmet Aerospace Inc. $88.1B47.3x34.7%21.0%+18.1% —
NOC Northrop Grumman Corporation $73.9B16.5x27.0%10.1%+5.9% —
TDG TransDigm Group Incorporated $63.0B34.6x-28.7%19.7%+16.6% —
12-month window: SPY +15.9%, sector ETF XLI +10.7%. Past returns describe history only.

Recent 8-K filings

2026-09-15Officer/Director Change; Exhibits
2026-07-23Earnings Release; Exhibits
2026-05-04Shareholder Vote
2026-04-21Earnings Release; Exhibits
2026-03-05Departure/Election of Directors; Appointment of Officers
2026-01-27Results of Operations and Financial Condition; Financial Statements and Exhibits

Context

Shares outstanding1,347,758,102
Free float92.7%
Institutional ownership80.8%
Beta0.29
Dividend yield1.45%
Last dividend$0.73 on 2026-08-14
50 / 200-day average$200.72 / $194.99

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where RTX sits among 56 scored companies in Aerospace & Defense (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureRTXIndustry medianIndustry percentileSector median
P/E (TTM) 33.8x 33.9x
49th		 25.4x
PEG (P/E ÷ 3-yr EPS CAGR) 2.35 1.76
75th		 1.42
Price / sales 2.8x 4.3x
36th		 2.0x
Price / book 3.9x 3.6x
53rd		 2.9x
Price / tangible book —
Price / free cash flow 23.1x 32.5x
34th		 20.8x
Price / operating cash flow 18.4x 29.1x
28th		 14.5x
Enterprise value $291.9B $6.6B
98th		 $4.8B
EV / sales 3.1x 4.1x
38th		 2.4x
EV / EBITDA 18.7x 20.6x
40th		 13.6x
EV / EBIT 26.0x 25.7x
51st		 19.9x
EV / free cash flow 25.8x 40.0x
34th		 24.3x
Earnings yield 3.0% 2.2%
65th		 3.3%
FCF yield 4.3% 2.0%
78th		 3.8%
Operating cash flow yield 5.4% 2.7%
80th		 6.2%
Graham number (per share) $78.77 $48.57
71st		 $38.21

Profitability (TTM)

MeasureRTXIndustry medianIndustry percentileSector median
Gross margin 20.3% 26.5%
35th		 30.5%
EBITDA margin 16.7% 12.4%
72nd		 14.3%
Operating margin 11.1% 9.6%
66th		 9.8%
EBIT margin 12.0% 9.6%
70th		 9.9%
Net margin 8.3% 6.1%
66th		 6.0%
NOPAT margin 9.1% 7.9%
68th		 7.8%
FCF margin 12.1% 5.6%
79th		 7.0%
Operating cash flow margin 15.2% 8.6%
79th		 11.2%
R&D / revenue 3.0% 1.8%
63rd		 0.0%
SG&A / revenue 6.6% 13.7%
21st		 14.1%
Stock comp / revenue 0.6% 0.7%
39th		 0.6%
Effective tax rate 18.7% 21.0%
42nd		 21.0%

Returns on capital

MeasureRTXIndustry medianIndustry percentileSector median
ROE (on average equity) 12.0% 10.8%
61st		 11.9%
ROA 4.5% 4.5%
51st		 4.8%
ROIC 8.7% 8.1%
55th		 8.7%
ROCE 10.1% 8.8%
60th		 9.4%
Return on tangible assets 6.6% 6.7%
45th		 7.9%
Cash ROIC (OCF / invested capital) 14.7% 9.6%
63rd		 12.8%
Gross profitability (GP / assets) 10.9% 14.6%
25th		 19.2%
ROIC, 3-yr average 5.3% 8.7%
38th		 7.8%
ROIC, 5-yr average 5.6% 8.3%
34th		 8.6%
ROE, 5-yr average 7.9% 9.5%
46th		 12.5%
Incremental ROIC -457.3% 27.1%
0th		 20.5%

Growth

MeasureRTXIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 11.8% 20.7%
25th		 8.6%
Revenue growth (QoQ) 11.9% 10.2%
60th		 9.9%
Revenue CAGR, 3 yr 9.8% 13.7%
33rd		 5.0%
Revenue CAGR, 5 yr 8.5% 12.1%
33rd		 8.3%
Gross profit CAGR, 3 yr 9.7% 13.8%
33rd		 6.5%
Operating income CAGR, 3 yr 20.7% 21.0%
47th		 6.4%
Net income growth (TTM YoY) 25.9% 32.1%
36th		 11.3%
Net income CAGR, 3 yr 11.6% 19.1%
37th		 6.6%
EPS growth (TTM YoY) 24.9% 31.8%
36th		 13.3%
EPS CAGR, 3 yr 14.4% 18.5%
43rd		 5.6%
EPS CAGR, 5 yr 31.5% 16.4%
81st		 8.3%
FCF growth (TTM YoY) 270.3% 34.1%
87th		 14.7%
FCF CAGR, 3 yr 70.4% 20.0%
100th		 12.2%
Operating cash flow CAGR, 3 yr 39.2% 22.9%
86th		 8.8%
Book value CAGR, 3 yr -0.5% 10.5%
23rd		 7.3%
Dividend CAGR, 3 yr 5.9% 2.5%
79th		 2.7%
Sustainable growth rate 6.2% 11.5%
29th		 11.0%

Margin history & stability

MeasureRTXIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 18.9% 26.2%
26th		 30.6%
Operating margin, 3-yr average 8.4% 9.0%
46th		 10.0%
Net margin, 3-yr average 6.3% 6.3%
50th		 6.2%
FCF margin, 3-yr average 8.9% 6.0%
72nd		 7.1%
Revenue stability (0-1) 0.92 0.91
54th		 0.81
Earnings stability (0-1) 0.51 0.56
46th		 0.47
Margin stability (0-1) 0.88 0.88
49th		 0.90

Liquidity (latest quarter)

MeasureRTXIndustry medianIndustry percentileSector median
Cash & short-term investments $8.3B $337.2M
96th		 $249.6M
Net cash (− = net debt) −$30.6B −$747.7M
2nd		 −$666.5M
Working capital $667.0M $878.9M
47th		 $376.4M
Current ratio 1.01 2.57
4th		 1.79
Quick ratio 0.78 1.57
5th		 1.33
Cash ratio (cash + ST investments / current liabilities) 0.13 0.34
9th		 0.32
Defensive interval (days) 1,749 days 960 days
81st		 614 days

Leverage & solvency (latest quarter)

MeasureRTXIndustry medianIndustry percentileSector median
Total debt $38.9B $917.3M
98th		 $919.8M
Debt / equity 0.59 0.52
60th		 0.65
Net debt / equity 0.46 0.34
58th		 0.46
Debt / assets 22.3% 24.3%
40th		 29.3%
Debt / capital 36.9% 34.0%
60th		 39.5%
Debt / EBITDA 2.49 2.38
57th		 2.44
Net debt / EBITDA 1.96 1.88
52nd		 1.86
Interest coverage (EBIT / interest) 6.6x 5.1x
58th		 5.0x
Cash interest coverage 8.4x 5.6x
71st		 6.1x
Debt payback (years of OCF) 2.7 yrs 3.1 yrs
44th		 3.2 yrs
Liabilities / assets 60.8% 52.4%
69th		 56.7%
IS credit model rating BBB — —
Implied credit spread (bps) 275 175
65th		 200

Efficiency

MeasureRTXIndustry medianIndustry percentileSector median
Asset turnover 0.55 0.62
42nd		 0.75
Fixed asset turnover 5.00 5.00
50th		 5.14
Inventory turnover 5.2 3.6
62nd		 5.0
Receivables turnover 4.1 6.6
17th		 6.7
Days sales outstanding 88 days 56 days
84th		 54 days
Days inventory outstanding 70 days 103 days
38th		 72 days
Days payables outstanding 75 days 39 days
84th		 41 days
Cash conversion cycle (days) 84 days 104 days
42nd		 63 days
Capex / revenue 3.1% 3.6%
43rd		 3.0%
Capex / depreciation 0.66 1.14
31st		 0.76
Operating expense ratio 9.4% 16.0%
17th		 17.7%

Cash flow & earnings quality

MeasureRTXIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.84 1.31
87th		 1.50
FCF / net income 1.46 0.87
82nd		 1.15
FCF / operating cash flow 79.6% 72.4%
63rd		 74.0%
Capex / operating cash flow 20.4% 27.6%
37th		 26.1%
Accruals ratio -3.8% -2.8%
35th		 -4.0%
Sloan accruals ratio -2.4% -0.3%
42nd		 -2.4%
Earnings quality score (0-1) 1.00 1.00
49th		 1.00

Dividends & buybacks

MeasureRTXIndustry medianIndustry percentileSector median
Dividend yield 1.5% 0.0%
85th		 0.6%
Dividend per share (TTM) $2.82 $0.00
89th		 $0.44
Payout ratio (dividends / net income) 48.1% 13.6%
85th		 22.5%
Dividends / FCF 32.9% 15.3%
83rd		 19.6%
Dividend growth (YoY) 9.4% 8.9%
59th		 5.6%
Buyback yield 0.0% 0.0%
2nd		 0.5%
Shareholder yield (dividends + buybacks) 1.4% 0.7%
69th		 2.0%
Share count change (YoY) 0.8% 0.9%
46th		 0.0%
Buybacks, last 5 years $544.0M $14.0M
80th		 $76.0M

Scores & forensic checks

MeasureRTXIndustry medianIndustry percentileSector median
IS score 62 55
64th		 53
IS profitability 34 31
53rd		 37
IS growth 66 70
37th		 54
IS value 45 43
60th		 47
IS momentum 92 80
76th		 76
IS risk (safety) 65 100
18th		 80
IS quality 74 65
82nd		 67
IS balance sheet 55 58
44th		 56
IS earnings quality 67 67
53rd		 70
IS cash flow 70 44
78th		 54
Piotroski F-score (0-9) 8 6
84th		 6
Altman Z-score 2.7 4.8
20th		 3.3
Beneish M-score −2.52 −2.40
34th		 −2.52
Ohlson O-score −8.53 −7.88
27th		 −7.49
IS credit score 58 69
33rd		 65

Per share

MeasureRTXIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $5.67 $1.65
73rd		 $2.21
Book value per share $48.64 $14.45
80th		 $18.38
Tangible book per share −$11.73 $3.65
9th		 $4.39
Revenue per share $68.51 $29.92
73rd		 $36.64
FCF per share $8.29 $1.44
85th		 $2.70
Operating cash flow per share $10.41 $2.14
84th		 $4.28
Cash per share $6.09 $2.93
64th		 $3.02

Size (TTM)

MeasureRTXIndustry medianIndustry percentileSector median
Market cap $261.4B $6.0B
98th		 $3.9B
Revenue $93.5B $2.0B
98th		 $2.7B
EBITDA $15.6B $252.5M
100th		 $394.8M
Net income $7.7B $85.5M
98th		 $136.3M
Free cash flow $11.3B $80.1M
100th		 $162.9M
Total assets $174.0B $4.1B
100th		 $3.5B
Shareholders' equity $66.4B $1.6B
100th		 $1.4B
Employees 180,000 4,020
98th		 6,050

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-01Johnson Amy L
Senior VP and Controller
 Option exercise 84——11,111
2026-10-01Johnson Amy L
Senior VP and Controller
 Tax withholding 84$185.01$15,54111,027
2026-10-01Johnson Amy L
Senior VP and Controller
 Option exercise 84——17,884
2026-10-01Dasilva Kevin G
Senior VP and Treasurer
 Option exercise 143——20,246
2026-10-01Dasilva Kevin G
Senior VP and Treasurer
 Tax withholding 143$185.01$26,45620,103
2026-10-01Dasilva Kevin G
Senior VP and Treasurer
 Option exercise 143——10,325
2026-08-18Maharajh Ramsaran
EVP and General Counsel
 Option exercise 20,069$71.62$1.4M33,253
2026-08-18Maharajh Ramsaran
EVP and General Counsel
 Return to issuer 6,414$224.07$1.4M26,839
2026-08-18Maharajh Ramsaran
EVP and General Counsel
 Open-market sale 13,655$223.92$3.1M13,184
2026-08-18Maharajh Ramsaran
EVP and General Counsel
 Option exercise 20,069$71.62$1.4M0
2026-07-28Dasilva Kevin G
Senior VP and Treasurer
 Open-market sale 2,250$216.93$488,09720,099
2026-07-27Atkinson Tracy A
Director
 Open-market sale 2,295$218.05$500,4241,785

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
AprJulAugOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1033,747—
Open-market saleDisposed631,517$6.9M
Option exerciseDisposed432,896$2.7M
Option exerciseAcquired432,896$2.7M
Return to issuerDisposed212,268$2.7M
Tax withholdingDisposed2227$41,997
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 15 notices · 227,448 shares · $44.5M
FiledFilerShares proposedEst. proceeds
2026-08-18Ramsaran Maharajh13,655$1.6M
2026-07-27Atkinson Tracy A2,295$500,000
2026-07-24Troy Brunk8,557$1.8M
2026-07-24Kevin Dasilva7,010$1.0M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 10 trades (4 purchases) · Senate 3 (3 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-03-27Alan ArmstrongSenatePurchase$15,001 - $50,0002026-07-21
2026-01-08Gilbert Ray CisnerosHousePurchase$1,001 - $15,0002026-02-13
2025-12-29Markwayne MullinSenatePurchase$15,001 - $50,0002026-01-16
2025-12-29Markwayne MullinSenatePurchase$15,001 - $50,0002026-01-15
2025-12-22Roger WilliamsHousePurchase$1,001 - $15,0002026-01-16
2025-12-22Roger WilliamsHousePurchase$1,001 - $15,0002026-01-16
2025-12-21Roger WilliamsHousePurchase$1,001 - $15,0002026-01-16
2025-05-30John BoozmanSenatePurchase$1,001 - $15,0002025-07-09
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.110,528,494$21.0B8.20%
STATE STREET CORP95,417,318$18.1B7.08%
VANGUARD CAPITAL MANAGEMENT LLC87,947,095$16.7B6.53%
Capital Research Global Investors52,346,255$9.9B3.88%
DODGE & COX35,113,249$6.7B2.61%
JPMORGAN CHASE & CO33,308,510$6.2B2.47%
GEODE CAPITAL MANAGEMENT, LLC33,183,061$6.3B2.46%
VANGUARD PORTFOLIO MANAGEMENT LLC26,141,915$5.0B1.94%
BANK OF AMERICA CORP /DE/24,345,900$4.6B1.81%
Fisher Asset Management, LLC22,872,255$4.3B1.70%
Capital International Investors22,098,385$4.2B1.64%
NORGES BANK19,952,281$3.8B1.48%
FRANKLIN RESOURCES INC12,262,842$2.3B0.91%
MASSACHUSETTS FINANCIAL SERVICES CO /MA/11,737,526$2.2B0.87%
Invesco Ltd.11,230,174$2.1B0.83%

Institutional ownership by quarter

2023-092026-0680.8%
% of shares held by 13F filers
2023-092026-063,428
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-303,42880.8%2191,5031,282175
2026-03-313,43578.4%2931,3711,309141
2025-12-313,33384.0%4431,2201,25298
2025-09-303,05978.4%2691,1651,208102
2025-06-302,95181.4%2381,1651,159133
2025-03-312,88881.0%2801,0931,130132
2024-12-312,79279.9%3321,088998156
2024-09-302,66778.7%2879301,06795
2024-06-302,50581.2%2119151,049126
2024-03-312,45981.6%244968951146
2023-12-312,39285.0%333844998165
2023-09-302,25984.8%177904943303

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-05-14SCHEDULE 13G/ACapital Research Global Investors3.9%52,377,687
2026-04-30SCHEDULE 13GVanguard Capital Management7.5%100,563,387
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.34%$7.9B
VTSAX0.34%$7.9B
VTI0.34%$7.9B
VSMPX0.34%$7.9B
VFIAX0.38%$6.6B
VOO0.38%$6.6B

Share structure

Shares outstanding1,347,758,102
Float1,249,816,560
Free float92.7%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$64.4B$67.1B$68.9B$80.7B$88.6B
Cost of revenue$51.9B$53.4B$56.8B$65.3B$70.8B
Gross profit$12.5B$13.7B$12.1B$15.4B$17.8B
R&D$2.7B$2.7B$2.8B$2.9B$2.8B
SG&A$5.0B$5.6B$5.8B$5.8B$6.1B
Operating income$4.7B$5.5B$3.6B$6.7B$8.9B
EBITDA$10.6B$11.2B$9.4B$12.2B$12.9B
Pretax income$4.9B$6.1B$3.8B$6.2B$8.7B
Income tax$786.0M$790.0M$456.0M$1.2B$1.7B
Net income$3.9B$5.2B$3.2B$4.8B$6.7B
EPS, diluted$2.56$3.50$2.23$3.55$4.96
Diluted shares1.5B1.5B1.4B1.3B1.4B

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$7.8B$6.2B$6.6B$5.6B$7.4B
Receivables$21.0B$20.6B$23.0B$25.5B$31.8B
Inventory$9.2B$10.6B$11.8B$12.8B$13.4B
Total current assets$42.0B$42.4B$48.4B$51.1B$60.3B
PP&E, net$16.9B$17.0B$17.4B$18.0B$18.8B
Goodwill & intangibles$93.0B$90.7B$89.1B$86.2B$85.2B
Total assets$161.4B$158.9B$161.9B$162.9B$171.1B
Accounts payable$8.8B$9.9B$10.7B$12.9B$15.9B
Total current liabilities$35.4B$39.1B$46.8B$51.5B$58.8B
Long-term debt$31.3B$30.7B$42.4B$38.7B$34.3B
Total liabilities$86.7B$84.7B$100.4B$100.9B$103.9B
Shareholders' equity$74.7B$74.2B$61.4B$62.0B$67.1B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$4.1B$5.3B$3.2B$5.0B$7.1B
Depreciation & amortization$4.6B$4.1B$4.2B$4.4B$4.0B
Stock-based compensation$442.0M$420.0M$425.0M$437.0M$519.0M
Change in working capital−$278.0M$522.0M$1.5B−$1.1B−$1.8B
Operating cash flow$7.1B$7.2B$7.9B$7.2B$10.6B
Capital expenditure−$2.3B−$2.8B−$3.2B−$2.6B−$2.6B
Free cash flow$4.7B$4.4B$4.7B$4.5B$7.9B
Investing cash flow−$1.4B−$2.8B−$3.0B−$1.5B−$1.3B
Net debt issued / repaid−$305.0M$487.0M$11.9B−$2.5B−$3.4B
Buybacks−$2.3B−$2.8B−$12.9B−$444.0M−$50.0M
Dividends paid−$3.0B−$3.1B−$3.2B−$3.2B−$3.6B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin19.4%20.4%17.5%19.1%20.1%
Operating margin7.3%7.9%5.0%8.3%10.4%
Net margin6.0%7.7%4.6%5.9%7.6%
FCF margin7.4%6.8%6.8%5.1%9.0%
ROE5.3%7.1%4.8%8.0%10.7%
ROIC4.0%4.7%3.1%5.5%7.6%
ROA2.4%3.2%2.0%2.9%4.0%
Debt / equity0.450.460.760.710.61
Interest coverage4.9x5.6x3.3x4.1x5.5x
Current ratio1.191.091.040.991.03
Revenue growth+13.6%+4.2%+2.8%+17.1%+9.7%
EPS growth+210.9%+36.7%−33.3%+50.8%+39.7%
P/E at year end30.5x26.8x34.4x32.1x37.1x
EV / EBITDA at year end13.2x15.0x15.9x15.2x19.5x
FCF yield at year end4.03%3.26%4.29%2.67%3.18%
Dividend payout76.5%60.2%101.4%67.4%53.1%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Pratt and Whitney$18.1B$20.5B$18.3B$28.1B$32.9B
Collins Aerospace Systems—$20.6B—$28.3B$30.2B
Raytheon Intelligence & Space$15.2B$29.2B—$26.7B$28.0B
Raytheon——$26.4B——
Collins Aerospace$18.4B—$26.3B——
Raytheon Missiles & Defense$15.5B————
Eliminations and Other−$2.9B—−$2.0B——

Revenue by region · FY2025

Geographic Distribution, Domestic$74.8B · 64%
Europe$18.8B · 16%
Asia Pacific$13.8B · 12%
Other$5.1B · 4%
Middle East And North Africa$3.6B · 3%

Street estimates by fiscal year

Next report 2026-10-20 · consensus EPS $1.78 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$96.3B$95.5B – $96.8B$7.26$7.19 – $7.341526.7x
2027$103.7B$102.3B – $104.5B$7.93$7.48 – $8.131424.5x
2028$111.4B$106.9B – $118.1B$8.76$8.05 – $9.491122.1x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-04-21$1.51$1.78+17.9%$21.5B$22.1B+2.9%
2026-01-27$1.47$1.55+5.4%$22.7B$24.2B+6.8%
2025-10-21$1.41$1.70+20.6%$21.3B$22.5B+5.5%
2025-07-22$1.44$1.56+8.3%$20.6B$21.6B+4.6%
2025-04-22$1.35$1.47+8.9%$19.8B$20.3B+2.5%
2025-01-28$1.38$1.54+11.6%$20.5B$21.6B+5.3%
2024-10-22$1.34$1.45+8.2%$19.8B$20.1B+1.2%
2024-07-25$1.30$1.41+8.5%$19.3B$19.7B+2.2%
2024-04-23$1.23$1.34+8.9%$18.4B$19.3B+4.9%
2024-01-23$1.24$1.29+4.0%$19.7B$19.9B+1.0%
2023-10-24$1.19$1.25+5.0%$18.6B$13.5B−27.6%
2023-07-25$1.17$1.29+10.3%$17.7B$18.3B+3.6%
2023-04-25$1.13$1.22+8.0%$17.0B$17.2B+1.4%
2023-01-24$1.24$1.27+2.4%$18.2B$18.1B−0.3%
2022-10-25$1.14$1.21+6.1%$17.2B$17.0B−1.6%
2022-07-26$1.12$1.16+3.6%$16.6B$16.3B−1.7%
2022-04-26$1.01$1.15+13.9%$15.8B$15.7B−0.5%
2022-01-25$1.01$1.08+6.9%$15.9B$17.0B+7.3%
2021-10-26$1.07$1.26+17.8%$16.4B$16.2B−1.1%
2021-07-27$0.92$1.03+12.0%$16.4B$15.9B−3.0%
2021-04-27$0.88$0.90+2.3%$15.3B$15.3B−0.1%
2021-01-26$0.71$0.74+4.2%$15.5B$16.4B+6.1%
2020-10-27$0.48$0.58+20.8%$34.6B$14.7B−57.4%
2020-07-28$0.10$0.40+300.0%$18.7B$14.1B−25.0%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
1.106-151.106-220.706-291.007-060.807-131.507-201.907-271.008-030.808-101.308-170.908-240.708-31
Week ofNotionalSharesTrades
2026-08-31$694.0M3,412,77777,959
2026-08-24$893.3M4,239,40689,908
2026-08-17$1.3B5,737,502112,087
2026-08-10$829.7M3,728,87588,604
2026-08-03$955.3M4,345,47893,524
2026-07-27$1.9B8,677,585146,119

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1522.8%
DateShort shareShort volumeTotal volume
2026-10-1522.8%452,4161,985,739
2026-10-1445.5%653,2291,435,876
2026-10-1341.5%724,1381,746,411
2026-10-1244.0%503,4351,143,736
2026-10-0944.2%638,4551,443,733
2026-10-0839.9%713,5601,786,246
2026-10-0738.1%657,8911,728,641
2026-10-0637.2%572,9391,541,448
2026-10-0542.0%570,4291,359,470
2026-10-0234.4%428,4991,244,213
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+1.6Jan+1.7Feb-0.4Mar+3.1Apr+0.5May-0.9Jun+1.0Jul+0.1Aug-0.5Sep+2.4Oct+2.2Nov+2.1Dec
MonthAvg returnUp yearsYears
Jan+1.6%55%20
Feb+1.7%70%20
Mar−0.4%43%21
Apr+3.1%65%20
May+0.5%60%20
Jun−0.9%50%20
Jul+1.0%55%20
Aug+0.1%55%20
Sep−0.5%50%20
Oct+2.4%60%20
Nov+2.2%70%20
Dec+2.1%75%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1456.2
MFI45.8
ADX44.5
Stochastic %K / %D80.1 / 62.0
Williams %R-2.6
CCI117
TSI / signal-23.8 / -37.0
Chaikin money flow0.02
ATR$3.95
Bollinger width7.6%
Volume vs 20-day avg1.57x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$187.03 (+3.7%)
SMA 50$200.06 (−3.1%)
SMA 200$194.87 (−0.5%)
EMA 21$188.91 (+2.7%)
EMA 50$194.24 (−0.2%)
EMA 200$190.09 (+2.0%)
Bollinger upper$194.18 (−0.1%)
Bollinger lower$179.89 (+7.8%)
Parabolic SAR$179.93 (+7.8%)
Open the live chart, 110+ indicators

About RTX Corporation

RTX Corporation, a major player in the aerospace and defense sectors, provides sophisticated systems and extensive services to a diverse global clientele. This includes commercial entities, military organizations, and government agencies, both within the United States and internationally. The company's operations are divided into three primary business units: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace segment delivers a broad range of aerospace and defense products, alongside comprehensive aftermarket support solutions. Its customer base spans manufacturers of civil and military aircraft, commercial airlines, and operators in regional, business, general aviation, defense, and commercial space ventures. This division's offerings cover the design, production, and maintenance of aircraft interior components, such as oxygen systems, food and beverage preparation and storage facilities, galley systems, and lavatory and wastewater management. It also supplies battlespace management tools, test and training range infrastructure, crew escape mechanisms, simulation and training programs, and essential information management services. Its post-sales services include providing spare parts, overhaul and repair, specialized engineering and technical assistance, training and fleet management, and integrated asset and information management. Pratt & Whitney, another core segment, is a leading provider of aircraft propulsion systems for commercial airliners, military aircraft, business jets, and general aviation. This division is also responsible for manufacturing, selling, and maintaining auxiliary power units for both military and commercial applications. Finally, the Raytheon segment specializes in creating advanced capabilities for the detection, tracking, and mitigation of both defensive and offensive threats. Its tailored solutions serve the U.S. government, foreign governments, and various commercial customers. Established in 1934, the company was formerly known as Raytheon Technologies Corporation before officially rebranding as RTX Corporation in July 2023. RTX Corporation maintains its corporate headquarters in Arlington, Virginia.

https://www.rtx.com

Key executives

NameTitlePayBorn
Christopher T. CalioChairman & Chief Executive Officer$7.2M1974
Neil G. Mitchill Jr.Executive Vice President & Chief Financial Officer$3.9M1976
Philip J. JasperPresident of Raytheon$2.6M1968
Shane G. EddyPresident of Pratt & Whitney$2.5M1965
Troy D. BrunkPresident of Collins Aerospace$2.3M1970
Nathan WareVice President of Investor Relations.——
Pamela EricksonChief Communications Officer——
Ramsaran Maharajh Jr.Executive Vice President & General Counsel—1972

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Christopher T. Calio Chairman, President & Chief Executive Officer2025$1.5M$10.9M$0$24.8M
Neil G. Mitchill, Jr. Executive Vice President & Chief Financial Officer2025$1.1M$4.1M$0$10.6M
Philip J. Jasper President, Raytheon2025$824,615$2.5M$0$6.7M
Philip J. Jasper President, Raytheon Shane G. Eddy President, Pratt & Whitney2025$832,500$2.5M$0$6.6M
Shane G. Eddy President, Pratt & Whitney2025$781,111$2.2M$0$5.9M

Employees

240k2018243k2019181k2020174k2021182k2022185k2023186k2024180k2025

Dividends

Ex-dateAmountPaid
2026-08-14$0.732026-09-03
2026-05-22$0.732026-06-11
2026-02-20$0.682026-03-19
2025-11-21$0.682025-12-11
2025-08-15$0.682025-09-04
2025-05-23$0.682025-06-12
2025-02-21$0.632025-03-20
2024-11-15$0.632024-12-12

Moat model

Narrow · Efficient Scale · 2026-06-30
Cost advantage69
Intangibles51
Switching costs43
Network effect60
Efficient scale75
Our component scores (0-100) and overall 57.6; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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