A Business at a Glance
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TEXTRON INC
TXT
$17.2B
Mkt Cap
$95.53
+2.51%
TEXTRON INC (TXT) has a current P/E ratio of 18.7, compared to its historical median P/E of 18.3. The stock is currently considered Fair based on its historical valuation range.
TEXTRON INC (TXT) has a 5-year average return on invested capital (ROIC) of 18.1%. This indicates strong capital allocation and a potential competitive advantage.
TEXTRON INC (TXT) has a market capitalization of $17.2B. It is classified as a large-cap stock.
Yes, TEXTRON INC (TXT) pays a dividend with a trailing twelve-month yield of 0.10%. The company also returns capital through share buybacks, with a buyback yield of 4.77%.
Based on historical P/E analysis, TEXTRON INC (TXT) appears fair. The current P/E of 18.7 is 2% above its historical median of 18.3. The estimated fair value CAGR (P/E method) is 9.1%.
TEXTRON INC (TXT) operates in the Aircraft & Parts industry, within the Industrials sector.
TEXTRON INC (TXT) reported annual revenue of $14.8 billion in its most recent fiscal year, based on SEC EDGAR filings.
Textron Inc. is a diversified multi-industry company operating through manufacturing and finance segments that serve aerospace, defense, industrial, and commercial markets globally. The company's core manufacturing businesses include Textron Aviation, which designs and manufactures business jets, turboprop aircraft, military trainers, and piston aircraft while providing aftermarket parts and services through a global network of over 20 company-operated service centers and 300+ authorized independent service centers; Bell, a leading supplier of military and commercial helicopters and tiltrotor aircraft with an installed base of approximately 13,000 helicopters supported by eight company-operated service centers and approximately 85 independent service centers worldwide; Textron Systems, which develops and manufactures electronic systems, advanced marine craft, unmanned aircraft systems, armored vehicles, and piston aircraft engines for defense and government customers; and Industrial, comprising Kautex (a designer and manufacturer of plastic fuel systems, clear-vision systems, and battery enclosures for automotive OEMs operating over 30 plants in 13 countries) and Textron Specialized Vehicles (which manufactures golf cars, utility vehicles, turf-maintenance equipment, and aviation ground support equipment sold through independent distributors and dealers). The Finance segment provides captive financing primarily for Textron Aviation aircraft and Bell helicopters, with a substantial portion of originations being cross-border transactions. Textron's business model combines high-backlog, long-cycle manufacturing with recurring aftermarket services and parts revenue, supported by established customer relationships with global OEMs, government agencies, and commercial operators across North America, Europe, and international markets.
【Strong backlog-driven growth】 Management expects continued revenue growth driven by a robust backlog of $19.2 billion across aerospace and defense businesses, with Textron Aviation backlog increasing to $8 billion and Bell advancing rapidly on the MV-75 Cheyenne II program toward prototype deliveries. The company anticipates sequential margin improvements throughout 2026, with deliveries expected to increase each quarter and operational efficiencies improving particularly in the second half as supply chain constraints normalize. Bell is expected to return to double-digit margins as the MV-75 program matures into production, with the company targeting a long-term margin profile improvement as manufacturing scales and the program transitions from engineering and manufacturing development to low-rate initial production. Capital deployment remains focused on supporting the MV-75 program acceleration, with approximately $350 million of higher capital expenditure and long-lead materials planned for 2026, while the company continues to evaluate strategic alternatives for its Industrial segment including potential separation within 12 to 18 months.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call
| Segment | 2021 | 2022 | 2023 | 2024 | 2026 | % of Total |
|---|---|---|---|---|---|---|
Manufacturing group | $9.72B | $10.95B | $11.57B | $11.38B | $12.73B | 49% |
Aircraft | $2.71B | $3.39B | $3.58B | $3.37B | $3.92B | 15% |
Military aircraft and support programs | $2.21B | $2.07B | $1.70B | $2.05B | $2.62B | 10% |
Aftermarket parts and services | $1.26B | $1.69B | $1.80B | $1.91B | $2.03B | 8% |
Fuel systems and functional components | $1.75B | $1.77B | $1.95B | $1.89B | $1.88B | 7% |
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 14.8B | 14.8B | 14.8B | 13.7B | 13.7B | 12.9B |
| Net Income | 921M | 921M | 921M | 824M | 921M | 861M |
| EPS | $5.11 | $5.11 | $5.11 | $4.33 | $4.56 | $4.01 |
| Free Cash Flow | 929M | 929M | 929M | 650M | 864M | 1.1B |
| ROIC | 17.5% | 17.5% | - | 15.6% | 18.5% | 20.9% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 1.30 | 1.30 | 0.10 | 0.11 | 0.06 |
| Dividends/Share | $0.10 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 |
| Operating Income | 1.3B | 1.3B | - | 1.0B | 1.2B | 1.1B |
| Operating Margin | 8.5% | 8.5% | - | 7.6% | 8.5% | 8.7% |
| ROE | 11.7% | 11.7% | 12.2% | 11.6% | 13.1% | 13.3% |
| Shares Outstanding | 180M | 180M | 180M | 190M | 202M | 215M |
| Metric | 2019 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 13.9B | 13.8B | 14.2B | 14.0B | 13.6B | 13.6B | 11.7B | 12.9B | 13.7B | 13.7B | 14.8B | 14.8B | 14.8B |
| Gross Margin | 17.7% | 17.8% | 16.7% | 17.0% | 16.3% | 16.3% | 13.4% | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | 694M | 677M | 634M | 643M | 647M | 647M | 549M | 601M | 570M | 491M | 521M | 521M | 521M |
| SG&A | 1.4B | 1.3B | 1.3B | 1.3B | 1.2B | 1.2B | 1.0B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B |
| EBIT | 1.0B | 1.2B | 937M | 1.6B | 1.1B | 1.1B | 448M | 1.1B | 1.2B | 1.0B | N/A | 1.3B | 1.3B |
| Op. Margin | 7.5% | 8.5% | 6.6% | 11.1% | 8.2% | 8.2% | 3.8% | 8.7% | 8.5% | 7.6% | N/A | 8.5% | 8.5% |
| Net Income | 600M | 962M | 307M | 1.2B | 815M | 815M | 309M | 861M | 921M | 824M | 921M | 921M | 921M |
| Net Margin | 4.3% | 7.0% | 2.2% | 8.7% | 6.0% | 6.0% | 2.7% | 6.7% | 6.7% | 6.0% | 6.2% | 6.2% | 6.2% |
| Non-Recurring | 0 | 130M | 47M | 444M | 15M | 5.0M | 39M | 13M | 127M | 81M | 8.0M | 12M | 12M |
| Returns on Capital | |||||||||||||
| ROIC | 18.1% | 27.6% | 12.3% | 30.6% | 22.1% | 22.9% | 11.4% | 20.9% | 18.5% | 15.6% | N/A | 17.5% | 17.5% |
| ROE | 14.0% | 19.5% | 5.5% | 22.5% | 15.2% | 14.8% | 5.4% | 13.3% | 13.1% | 11.6% | 12.2% | 11.7% | 11.7% |
| ROA | 4.1% | 6.4% | 2.0% | 8.3% | 5.6% | 5.4% | 2.0% | 5.4% | 5.6% | 4.9% | 5.3% | 5.1% | 5.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.2B | 925M | 936M | 1.1B | 1.0B | 1.0B | 768M | 1.5B | 1.3B | 1.0B | 1.3B | 1.3B | 1.3B |
| Free Cash Flow | 779M | 479M | 513M | 738M | 675M | 675M | 451M | 1.1B | 864M | 650M | 929M | 929M | 929M |
| Owner Earnings | 664M | 405M | 412M | 635M | 546M | 546M | 320M | 1.0B | 777M | 566M | 830M | 830M | 830M |
| CapEx | 429M | 446M | 423M | 369M | 339M | 339M | 317M | 354M | 402M | 364M | 383M | 383M | 383M |
| Maint. CapEx | 459M | 449M | 447M | 437M | 416M | 416M | 391M | 397M | 395M | 382M | 401M | 401M | 401M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.0M | 0 | 0 | 0 | 0 |
| D&A | 459M | 449M | 447M | 437M | 416M | 416M | 391M | 397M | 395M | 382M | 401M | 401M | 401M |
| CapEx/OCF | 35.5% | 38.5% | 45.2% | 33.3% | N/A | 33.4% | 41.3% | 23.5% | 31.8% | 35.9% | N/A | 29.2% | 29.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 28M | 22M | 21M | 20M | 18M | 18M | 18M | 17M | 16M | 12M | 18M | 18M | 18M |
| Dividend Yield | 0.3% | 0.2% | 0.2% | 0.2% | N/A | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% | N/A | 0.1% | 0.1% |
| Share Buybacks | 340M | 241M | 582M | 1.8B | 503M | 503M | 183M | 867M | 1.2B | 1.1B | 822M | 822M | 822M |
| Buyback Yield | 2.9% | 2.4% | 4.6% | 11.7% | 0.0% | 4.8% | 1.7% | 6.1% | 8.0% | 7.0% | 0.0% | 5.3% | 4.8% |
| Stock-Based Comp | 85M | 71M | 77M | 35M | 52M | 52M | 57M | 66M | 94M | 66M | 81M | 81M | 81M |
| Debt Repayment | 904M | 457M | 841M | 131M | 0 | 303M | 593M | 234M | 44M | 377M | 0 | 720M | 720M |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | -871M | -1.2B | -682M | -1.3B | -1.3B | -2.2B | -1.6B | -1.4B | -686M | N/A | N/A | -2.0B |
| Cash & Equiv. | 822M | 1.3B | 1.3B | 1.1B | 1.4B | 1.4B | 2.3B | 2.0B | 2.2B | 1.4B | 2.0B | 2.0B | 2.0B |
| Long-Term Debt | N/A | 427M | 36M | 425M | 40M | 40M | 38M | 20M | 365M | 383M | N/A | N/A | N/A |
| Debt/Equity | 2.42 | 0.08 | 0.01 | 0.08 | 0.01 | 0.01 | 0.01 | 0.06 | 0.11 | 0.10 | 1.30 | 1.30 | 0.00 |
| Interest Coverage | 5.4 | 6.7 | 5.4 | 9.3 | 6.5 | 6.5 | 2.7 | 10.5 | 15.1 | 10.7 | N/A | 10.0 | 10.0 |
| Equity | 4.3B | 5.6B | 5.6B | 5.2B | 5.5B | 5.5B | 5.8B | 7.1B | 7.0B | 7.2B | 7.9B | 7.9B | 7.9B |
| Total Assets | 14.6B | 15.4B | 15.3B | 14.3B | 15.0B | 15.0B | 15.4B | 16.3B | 16.9B | 16.8B | 18.1B | 18.1B | 18.1B |
| Total Liabilities | 10.3B | 9.8B | 9.7B | 9.1B | 9.5B | 9.5B | 9.6B | 9.2B | 9.9B | 9.6B | 10.3B | 10.3B | 10.3B |
| Intangibles | 833M | 767M | 765M | 658M | 589M | 589M | 489M | 461M | 399M | 362M | 338M | 338M | 338M |
| Retained Earnings | 4.6B | 5.5B | 5.4B | 5.4B | 5.7B | 5.7B | 6.0B | 5.9B | 5.9B | 5.6B | 5.8B | 5.8B | 5.8B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 2.13 | 3.53 | 1.14 | 4.83 | 3.50 | 3.50 | 1.35 | 4.01 | 4.56 | 4.33 | 5.11 | 5.11 | 5.11 |
| Owner EPS | 2.36 | 1.49 | 1.53 | 2.51 | 2.34 | 2.34 | 1.40 | 4.77 | 3.85 | 2.97 | 4.61 | 4.61 | 4.61 |
| Book Value | 15.17 | 20.45 | 20.97 | 20.52 | 23.70 | 23.70 | 25.54 | 33.13 | 34.59 | 37.86 | 43.69 | 43.69 | 43.69 |
| Cash Flow/Share | 4.29 | 3.39 | 3.48 | 4.38 | 4.35 | 4.35 | 3.36 | 6.93 | 6.27 | 5.33 | 7.28 | 7.28 | 7.33 |
| Dividends/Share | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.10 |
| Shares Out. | 281.7M | 272.5M | 269.3M | 253.0M | 232.9M | 232.9M | 228.9M | 214.7M | 202.0M | 190.3M | 180.2M | 180.2M | 180.2M |
| Valuation | |||||||||||||
| P/E Ratio | 19.4 | 13.2 | 41.4 | 12.5 | N/A | 13.0 | 34.6 | 20.1 | 15.8 | 19.6 | N/A | 17.0 | 18.7 |
| P/FCF | 14.9 | 18.8 | 24.8 | 20.6 | N/A | 15.6 | 23.7 | 12.6 | 16.8 | 24.8 | N/A | 16.8 | 18.5 |
| EV/EBIT | 12.3 | 8.3 | 15.7 | 11.2 | N/A | 11.2 | 27.3 | 18.6 | 14.7 | 19.1 | N/A | 15.2 | 12.0 |
| Price/Book | 2.7 | 1.7 | 2.3 | 2.9 | N/A | 1.9 | 1.8 | 2.1 | 2.1 | 2.2 | N/A | 2.0 | 2.2 |
| Price/Sales | 0.8 | 0.9 | 0.7 | 0.9 | N/A | 0.8 | 0.7 | 1.2 | 1.0 | 1.0 | N/A | 1.0 | 1.2 |
| FCF Yield | 6.7% | 5.2% | 4.0% | 4.8% | N/A | 6.4% | 4.2% | 7.6% | 5.9% | 4.0% | N/A | 5.9% | 5.4% |
| Market Cap | 11.6B | 9.2B | 12.7B | 15.2B | 0 | 10.6B | 10.7B | 15.0B | 14.6B | 16.1B | 0 | 15.6B | 17.2B |
| Avg. Price | 38.33 | 41.95 | 39.35 | 49.99 | 0.00 | 48.68 | 37.08 | 66.59 | 66.68 | 72.87 | 0.00 | 79.20 | 95.53 |
| Year-End Price | 41.32 | 33.12 | 47.19 | 60.22 | 0.00 | 45.35 | 46.66 | 66.39 | 72.06 | 84.67 | 0.00 | 86.79 | 95.53 |
TEXTRON INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
TEXTRON INC trades at 18.7x trailing earnings, compared to its 15-year median P/E of 18.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 17.9x vs a median of 18.7x. The company's 5-year average ROIC is 18.1%. Total shareholder yield (dividends + buybacks) is 4.9%. At current prices, the estimated annualized return to fair value is +8.4%.
TEXTRON INC (TXT) has a net profit margin of 6.2%. This is a modest margin.
TEXTRON INC (TXT) generated $929 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
TEXTRON INC (TXT) has a debt-to-equity ratio of 1.30. This indicates moderate leverage.
TEXTRON INC (TXT) reported earnings per share (EPS) of $5.11 in its most recent fiscal year.
TEXTRON INC (TXT) has a return on equity (ROE) of 11.7%. This indicates moderate shareholder returns.
The Ledger Terminal provides 18 years of financial data for TEXTRON INC (TXT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TEXTRON INC (TXT) has a book value per share of $43.69, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued revenue growth driven by a robust backlog of $19.2 billion across aerospace and defense businesses, with Textron Aviation backlog increasing to $8 billion and Bell advancing rapidly on the MV-75 Cheyenne II program toward prototype deliveries. The company anticipates sequential margin improvements throughout 2026, with deliveries expected to increase each quarter and operational efficiencies improving particularly in the second half as supply chain constraints normalize. Bell is expected to return to double-digit margins as the MV-75 program matures into production, with the company targeting a long-term margin profile improvement as manufacturing scales and the program transitions from engineering and manufacturing development to low-rate initial production. Capital deployment remains focused on supporting the MV-75 program acceleration, with approximately $350 million of higher capital expenditure and long-lead materials planned for 2026, while the company continues to evaluate strategic alternatives for its Industrial segment including potential separation within 12 to 18 months.