A Business at a Glance
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RTX Corp
RTX
$288.8B
Mkt Cap
$212.79
+1.74%
RTX Corp (RTX) has a current P/E ratio of 42.9, compared to its historical median P/E of 26.4. The stock is currently considered Expensive based on its historical valuation range.
RTX Corp (RTX) has a 5-year average return on invested capital (ROIC) of 5.2%. This is below average and may indicate limited pricing power.
RTX Corp (RTX) has a market capitalization of $286.6B. It is classified as a mega-cap stock.
Yes, RTX Corp (RTX) pays a dividend with a trailing twelve-month yield of 1.27%.
Based on historical P/E analysis, RTX Corp (RTX) appears expensive. The current P/E of 42.9 is 63% above its historical median of 26.4. The estimated fair value CAGR (P/E method) is 0.9%.
RTX Corp (RTX) operates in the Aircraft Engines & Engine Parts industry, within the Industrials sector.
RTX Corp (RTX) reported annual revenue of $88.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
RTX Corporation is a global aerospace and defense company operating through three principal segments: Collins Aerospace, Pratt & Whitney, and Raytheon. Collins is a leading provider of technologically advanced aerospace and defense products, including aftermarket services (spare parts, overhaul and repair, engineering support, training, and fleet management), as well as systems for power generation, environmental control, flight control, landing gear, avionics, cabin interiors, and space exploration. Pratt & Whitney designs, manufactures, and services aircraft engines for commercial, military, business jet, and general aviation customers, including the PW1000G Geared Turbofan family and military engines such as the F135 for the F-35 fighter jet, along with aftermarket maintenance and repair services. Raytheon provides defensive and offensive capabilities including integrated air and missile defense systems, smart weapons, missiles, advanced sensors and radars, and space-based systems for U.S. and foreign government customers. RTX serves commercial customers including aircraft manufacturers (Boeing and Airbus), airlines, airports, and aircraft operators, as well as U.S. government agencies and international defense customers through both original equipment and aftermarket channels, with a global footprint spanning the United States, India, Mexico, Singapore, the Philippines, and Europe.
【Strong backlog conversion ahead】 Management expects continued robust demand across commercial and defense end-markets, with global revenue passenger kilometers projected to grow approximately 5% in 2026 and aircraft production rates expected to increase on key platforms including the A320neo, 737 MAX, and 787. The company is executing a significant capacity expansion program, including investments in munitions production facilities and maintenance, repair, and overhaul networks, to support growing customer demand and convert its record $271 billion backlog into revenue. Operational priorities focus on increasing output across critical programs, deploying data analytics and AI tools to improve factory efficiency and reduce costs, and advancing new technologies including the GTF Advantage engine and hybrid-electric propulsion systems. Management remains focused on margin expansion through volume drop-through, pricing realization, and continued productivity improvements across all three segments.
| Metric | Target | Period |
|---|---|---|
| Organic Sales Growth | 5%–6% | FY2026 |
| Adjusted Earnings Per Share | $6.70–$6.90 | FY2026 |
| Free Cash Flow | $8.25 billion–$8.75 billion | FY2026 |
| Collins Operating Profit Growth | $425 million–$525 million | FY2026 vs FY2025 |
| Pratt & Whitney Operating Profit Growth | $225 million–$325 million | FY2026 vs FY2025 |
| Raytheon Operating Profit Growth | $275 million–$375 million | FY2026 vs FY2025 |
| Capital Expenditures | $3.1 billion | FY2026 |
Organic Sales Growth (FY2026): “We continue to expect this to translate to between 5% and 6% organic sales growth for the full year at the RTX level.”
Adjusted Earnings Per Share (FY2026): “We now see adjusted EPS of between $6.70 and $6.90 for the full year”
Free Cash Flow (FY2026): “On free cash flow, we remain on track to our outlook of between $8.25 billion-$8.75 billion for the full year.”
Collins Operating Profit Growth (FY2026 vs FY2025): “With operating profit growth between $425 million and $525 million versus 2025.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 90.4B | 88.6B | 80.7B | 68.9B | 67.1B | 64.4B |
| Net Income | 7.3B | 6.7B | 4.8B | 3.2B | 5.2B | 3.9B |
| EPS | $5.41 | $4.96 | $3.55 | $2.23 | $3.50 | $2.56 |
| Free Cash Flow | 8.5B | 7.9B | 4.5B | 5.5B | 4.9B | 5.0B |
| ROIC | 8.3% | 7.8% | 5.5% | 3.2% | 4.9% | 4.3% |
| Gross Margin | - | 27.1% | 26.8% | 25.8% | 28.4% | 28.5% |
| Debt/Equity | 0.56 | 0.61 | 0.72 | 0.76 | 0.47 | 0.46 |
| Dividends/Share | $2.71 | $2.67 | $2.48 | $2.32 | $2.16 | $2.01 |
| Operating Income | 9.8B | 9.3B | 6.5B | 3.6B | 5.5B | 5.1B |
| Operating Margin | 10.9% | 10.5% | 8.1% | 5.2% | 8.2% | 8.0% |
| ROE | 10.9% | 10.7% | 8.0% | 4.8% | 7.1% | 5.3% |
| Shares Outstanding | 1,347M | 1,357M | 1,345M | 1,433M | 1,485M | 1,509M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 57.9B | 56.1B | 57.2B | 59.8B | 34.7B | 45.3B | 56.6B | 64.4B | 67.1B | 68.9B | 80.7B | 88.6B | 90.4B |
| Gross Margin | 47.6% | 46.9% | 47.0% | 48.1% | 29.3% | 33.2% | 24.8% | 28.5% | 28.4% | 25.8% | 26.8% | 27.1% | N/A |
| R&D | 2.5B | 2.3B | 2.4B | 2.4B | 1.9B | 2.5B | 2.6B | 2.7B | 2.7B | 2.8B | 2.9B | 2.8B | 2.8B |
| SG&A | 6.2B | 5.9B | 6.0B | 6.4B | 2.9B | 3.7B | 5.5B | 5.0B | 5.6B | 5.8B | 5.8B | 6.1B | 6.1B |
| EBIT | 9.6B | 7.3B | 8.2B | 8.1B | 2.9B | 4.9B | -1.9B | 5.1B | 5.5B | 3.6B | 6.5B | 9.3B | 9.8B |
| Op. Margin | 16.6% | 13.0% | 14.4% | 13.6% | 8.3% | 10.8% | -3.3% | 8.0% | 8.2% | 5.2% | 8.1% | 10.5% | 10.9% |
| Net Income | 6.2B | 7.6B | 5.1B | 4.6B | 5.3B | 5.5B | -3.5B | 3.9B | 5.2B | 3.2B | 4.8B | 6.7B | 7.3B |
| Net Margin | 10.7% | 13.6% | 8.8% | 7.6% | 15.2% | 12.2% | -6.2% | 6.0% | 7.7% | 4.6% | 5.9% | 7.6% | 8.0% |
| Non-Recurring | 391M | 396M | 290M | 253M | 307M | 425M | 4.0B | 143M | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 17.1% | 12.1% | 14.7% | 11.2% | 2.7% | 5.5% | -3.9% | 4.3% | 4.9% | 3.2% | 5.5% | 7.8% | 8.3% |
| ROE | 19.7% | 26.0% | 18.4% | 15.9% | 15.5% | 13.8% | -6.2% | 5.3% | 7.1% | 4.8% | 8.0% | 10.7% | 10.9% |
| ROA | 6.8% | 8.5% | 5.7% | 4.9% | 4.6% | 4.0% | -2.3% | 2.4% | 3.2% | 2.0% | 2.9% | 4.0% | 4.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 7.3B | 6.8B | 6.4B | 5.6B | 2.7B | 5.8B | 4.3B | 7.1B | 7.2B | 7.9B | 7.2B | 10.6B | 11.1B |
| Free Cash Flow | 5.7B | 5.1B | 4.7B | 3.6B | 1.2B | 4.0B | 2.5B | 5.0B | 4.9B | 5.5B | 4.5B | 7.9B | 8.5B |
| Owner Earnings | 5.3B | 4.7B | 4.3B | 3.3B | 605M | 2.8B | -152M | 2.1B | 2.6B | 3.2B | 2.4B | 5.7B | 4.6B |
| CapEx | 1.6B | 1.7B | 1.7B | 2.0B | 1.5B | 1.9B | 1.8B | 2.1B | 2.3B | 2.4B | 2.6B | 2.6B | 2.7B |
| Maint. CapEx | 1.8B | 1.9B | 2.0B | 2.1B | 1.9B | 2.7B | 4.2B | 4.6B | 4.1B | 4.2B | 4.4B | 4.4B | 6.0B |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 1.8B | 1.9B | 2.0B | 2.1B | 1.9B | 2.7B | 4.2B | 4.6B | 4.1B | 4.2B | 4.4B | 4.4B | 6.0B |
| CapEx/OCF | 21.7% | 24.5% | 26.5% | 35.8% | 30.1% | 32.1% | 41.4% | 29.9% | 31.9% | 30.6% | 36.7% | 24.9% | 23.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 2.0B | 2.2B | 2.1B | 2.1B | 2.2B | 2.4B | 2.7B | 3.0B | 3.1B | 3.2B | 3.2B | 3.6B | 3.6B |
| Dividend Yield | 2.1% | 2.4% | 2.5% | 2.2% | 2.0% | 2.0% | 3.4% | 2.6% | 2.4% | 2.7% | 2.3% | 1.8% | 1.3% |
| Share Buybacks | 1.5B | 10.0B | 2.3B | 1.5B | 325M | 151M | 47M | 2.3B | 2.8B | 12.9B | 444M | 50M | 0 |
| Buyback Yield | 1.8% | 15.0% | 3.1% | 1.7% | 0.5% | 0.2% | 0.1% | 2.0% | 2.0% | 11.2% | 0.3% | 0.0% | 0.0% |
| Stock-Based Comp | 219M | 158M | 152M | 192M | 169M | 268M | 330M | 442M | 420M | 425M | 437M | 519M | 540M |
| Debt Repayment | 304M | 1.8B | 2.5B | 1.6B | 2.5B | 2.7B | 16.1B | 4.3B | 3.0M | 578M | 2.5B | 3.4B | 3.4B |
| Balance Sheet | |||||||||||||
| Net Debt | 9.2B | 13.3B | 16.7B | 18.5B | 41.8B | 40.0B | 24.1B | 24.8B | 26.9B | 38.3B | 36.9B | 31.8B | 29.9B |
| Cash & Equiv. | 5.2B | 7.1B | 7.2B | 9.0B | 3.7B | 4.9B | 8.8B | 7.8B | 6.2B | 6.6B | 5.6B | 7.4B | 7.5B |
| Long-Term Debt | 17.8B | 19.3B | 21.7B | 25.0B | 41.2B | 37.7B | 31.0B | 31.3B | 30.7B | 42.4B | 38.7B | 34.3B | 33.0B |
| Debt/Equity | 0.63 | 0.75 | 0.87 | 0.93 | 1.18 | 1.07 | 0.47 | 0.46 | 0.47 | 0.76 | 0.72 | 0.61 | 0.56 |
| Interest Coverage | 10.9 | 8.8 | 7.9 | 9.0 | 2.8 | 3.1 | -1.4 | 3.9 | 4.3 | 2.4 | 3.5 | 5.0 | 5.0 |
| Equity | 31.2B | 27.4B | 27.6B | 29.6B | 38.4B | 41.8B | 72.2B | 73.1B | 72.6B | 59.8B | 60.2B | 65.2B | 66.3B |
| Total Assets | 91.2B | 87.5B | 89.7B | 96.9B | 134.2B | 139.6B | 162.2B | 161.4B | 158.9B | 161.9B | 162.9B | 171.1B | 170.4B |
| Total Liabilities | 58.5B | 58.5B | 60.2B | 65.4B | 93.5B | 95.3B | 88.3B | 86.7B | 84.7B | 100.4B | 100.9B | 103.9B | 102.4B |
| Intangibles | 15.5B | 15.6B | 15.7B | 15.9B | 26.4B | 24.5B | 40.5B | 38.5B | 36.8B | 35.4B | 33.4B | 31.8B | 31.5B |
| Retained Earnings | 44.6B | 50.0B | 52.9B | 55.2B | 57.8B | 61.6B | 49.4B | 50.3B | 52.3B | 52.2B | 53.6B | 56.7B | 57.9B |
| Working Capital | 8.0B | 4.1B | 6.6B | 8.5B | 4.1B | 15.0B | 7.5B | 6.6B | 3.3B | 1.7B | -366M | 1.5B | 1.4B |
| Current Assets | 31.5B | 26.7B | 28.6B | 32.9B | 35.5B | 61.6B | 43.4B | 42.0B | 42.4B | 48.4B | 51.1B | 60.3B | 60.0B |
| Current Liabilities | 23.5B | 22.6B | 21.9B | 24.4B | 31.4B | 46.6B | 35.8B | 35.4B | 39.1B | 46.8B | 51.5B | 58.8B | 58.6B |
| Per Share Data | |||||||||||||
| EPS | 3.41 | 4.31 | 3.06 | 2.85 | 3.25 | 3.21 | -2.59 | 2.56 | 3.50 | 2.23 | 3.55 | 4.96 | 5.41 |
| Owner EPS | 2.90 | 2.68 | 2.60 | 2.07 | 0.37 | 1.65 | -0.11 | 1.42 | 1.78 | 2.27 | 1.75 | 4.18 | 3.40 |
| Book Value | 17.11 | 15.48 | 16.69 | 18.54 | 23.71 | 24.18 | 53.11 | 48.41 | 48.92 | 41.74 | 44.73 | 48.07 | 49.22 |
| Cash Flow/Share | 4.02 | 3.82 | 3.88 | 3.53 | 1.65 | 3.37 | 3.19 | 4.73 | 4.83 | 5.50 | 5.32 | 7.79 | 9.85 |
| Dividends/Share | 1.18 | 1.28 | 1.31 | 1.36 | 1.42 | 1.47 | 2.16 | 2.01 | 2.16 | 2.32 | 2.48 | 2.67 | 2.71 |
| Shares Out. | 1.8B | 1.8B | 1.7B | 1.6B | 1.6B | 1.7B | 1.4B | 1.5B | 1.5B | 1.4B | 1.3B | 1.4B | 1.3B |
| Valuation | |||||||||||||
| P/E Ratio | 13.2 | 8.8 | 14.5 | 18.6 | 13.7 | 12.7 | N/A | 30.6 | 26.4 | 36.1 | 32.2 | 37.2 | 39.4 |
| P/FCF | 18.0 | 16.5 | 19.6 | 29.4 | 75.5 | 35.7 | 33.6 | 23.6 | 28.1 | 21.1 | 33.9 | 31.5 | 33.9 |
| EV/EBIT | 9.5 | 11.0 | 11.0 | 12.7 | 12.3 | 21.2 | N/A | 27.0 | 28.5 | 41.0 | 28.1 | 29.4 | 32.2 |
| Price/Book | 2.6 | 2.4 | 2.7 | 2.9 | 1.9 | 1.7 | 1.2 | 1.6 | 1.9 | 1.9 | 2.6 | 3.8 | 4.3 |
| Price/Sales | 4.7 | 4.5 | 1.2 | 1.3 | 1.3 | 1.4 | 1.4 | 1.7 | 1.9 | 1.8 | 1.7 | 2.2 | 3.2 |
| FCF Yield | 7.0% | 7.6% | 6.4% | 4.3% | 1.7% | 5.6% | 3.0% | 4.2% | 3.6% | 4.7% | 3.0% | 3.2% | 3.0% |
| Market Cap | 82.1B | 66.8B | 73.5B | 84.5B | 72.1B | 70.6B | 85.3B | 118.2B | 137.1B | 115.3B | 153.6B | 250.5B | 286.6B |
| Avg. Price | 53.55 | 52.45 | 50.73 | 60.17 | 67.55 | 71.13 | 59.91 | 74.05 | 86.20 | 85.14 | 103.78 | 145.28 | 212.79 |
| Year-End Price | 56.65 | 47.55 | 55.97 | 66.62 | 56.01 | 81.71 | 62.77 | 78.30 | 92.35 | 80.47 | 114.19 | 184.56 | 212.79 |
RTX Corp passes 3 of 9 quality checks, indicating weak fundamentals.
RTX Corp trades at 42.9x trailing earnings, compared to its 15-year median P/E of 26.4x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 36.0x vs a median of 30.5x. The company's 5-year average ROIC is 5.2% with a gross margin of 27.3%. Total shareholder yield (dividends) is 1.3%. At current prices, the estimated annualized return to fair value is +4.7%.
RTX Corp (RTX) has a net profit margin of 7.6%. This is a modest margin.
RTX Corp (RTX) generated $7.9 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
RTX Corp (RTX) has a debt-to-equity ratio of 0.61. This indicates moderate leverage.
RTX Corp (RTX) reported earnings per share (EPS) of $4.96 in its most recent fiscal year.
RTX Corp (RTX) has a return on equity (ROE) of 10.7%. This indicates moderate shareholder returns.
RTX Corp (RTX) has a 5-year average gross margin of 27.3%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for RTX Corp (RTX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
RTX Corp (RTX) has a book value per share of $48.07, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued robust demand across commercial and defense end-markets, with global revenue passenger kilometers projected to grow approximately 5% in 2026 and aircraft production rates expected to increase on key platforms including the A320neo, 737 MAX, and 787. The company is executing a significant capacity expansion program, including investments in munitions production facilities and maintenance, repair, and overhaul networks, to support growing customer demand and convert its record $271 billion backlog into revenue. Operational priorities focus on increasing output across critical programs, deploying data analytics and AI tools to improve factory efficiency and reduce costs, and advancing new technologies including the GTF Advantage engine and hybrid-electric propulsion systems. Management remains focused on margin expansion through volume drop-through, pricing realization, and continued productivity improvements across all three segments.
Based on recent SEC filings and earnings calls, RTX Corp (RTX) has provided the following forward guidance: Organic Sales Growth: 5%–6% (FY2026); Adjusted Earnings Per Share: $6.70–$6.90 (FY2026); Free Cash Flow: $8.25 billion–$8.75 billion (FY2026); Collins Operating Profit Growth: $425 million–$525 million (FY2026 vs FY2025); Pratt & Whitney Operating Profit Growth: $225 million–$325 million (FY2026 vs FY2025), plus 2 additional metrics.
Pratt & Whitney Operating Profit Growth (FY2026 vs FY2025): “with operating profit growth between $225 million and $325 million versus 2025.”
Raytheon Operating Profit Growth (FY2026 vs FY2025): “We now expect operating profit growth between $275 million and $375 million versus 2025”
Capital Expenditures (FY2026): “For the full year, we expect to invest approximately $3.1 billion in CapEx.”
No recent press releases.