RTX Corporation

Industrials Aerospace & Defense Waltham, Massachusetts Last filing Feb 6, 2026 · FY2025

                    Revenue
                    FY2025
                
$88.6B
                    3y CAGR +9.7%
                    
                    P78
                    
                    +9.7%
                    
                    Net income
                    FY2025
                
$6.7B
                    Net margin +7.6%
                    
                    P26
                    
                    +41.0%
                    
                    Total assets
                    FY2025
                
$171.1B
                    ROA +3.9%
                    
                    P12
                    
                    +5.0%
                    
                    Operating cash flow
                    FY2025
                
$10.6B
                    FCF margin +9.0%
                    
                    P28
                    
                    +47.6%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

32 accounts · 5 years

Total assets $171.1B

Total liabilities $103.9B

Shareholders equity $65.2B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	$7.4B 33.3%	$5.6B -15.3%	$6.6B 5.9%	$6.2B -20.6%	$7.8B
Short Term Investments	$750.0M -4.6%	$786.0M 5.5%	$745.0M -3.7%	$774.0M -19.8%	$965.0M
Accounts Receivable	$14.7B 33.9%	$11.0B 1.3%	$10.8B 19.0%	$9.1B -5.7%	$9.7B
Inventory	$13.4B 4.7%	$12.8B 8.4%	$11.8B 10.9%	$10.6B 15.7%	$9.2B
Prepaid Expenses	$7.7B 6.9%	$7.2B 2.3%	$7.1B 42.5%	$5.0B 23.5%	$4.0B
Other Current Assets	$7.7B 6.9%	$7.2B 2.3%	$7.1B 42.5%	$5.0B 23.5%	$4.0B
Total Current Assets	$60.3B 18.0%	$51.1B 5.6%	$48.4B 14.1%	$42.4B 0.9%	$42.0B
Property,Plant and Equipment	$16.9B 4.8%	$16.1B 2.2%	$15.7B 3.8%	$15.2B 1.3%	$15.0B
Operating Lease Assets	$1.9B 1.2%	$1.9B 13.8%	$1.6B -10.4%	$1.8B -6.6%	$2.0B
Goodwill	$53.3B 1.0%	$52.8B -1.7%	$53.7B -0.3%	$53.8B -1.1%	$54.4B
Intangible Assets	$31.8B -4.8%	$33.4B -5.5%	$35.4B -3.9%	$36.8B -4.4%	$38.5B
Other Noncurrent Assets	$4.7B -11.8%	$5.3B 15.8%	$4.6B -25.7%	$6.2B -7.1%	$6.6B
Total Assets	$171.1B 5.0%	$162.9B 0.6%	$161.9B 1.9%	$158.9B -1.6%	$161.4B
Liabilities
Accounts Payable	$15.9B 23.2%	$12.9B 20.6%	$10.7B 8.1%	$9.9B 13.1%	$8.8B
Accrued Liabilities	$14.3B -3.2%	$14.8B 495.4%	$2.5B -77.4%	$11.0B 8.2%	$10.2B
Deferred Revenue	$21.6B 16.1%	$18.6B 8.3%	$17.2B 17.7%	$14.6B 6.4%	$13.7B
Current Portion of Long Term Debt	$204.0M 11.5%	$183.0M -3.2%	$189.0M -69.8%	$625.0M 366.4%	$134.0M
Other Current Liabilities	$7.2B 3.7%	$6.9B -7.6%	$7.5B -11.1%	$8.4B -18.9%	$10.4B
Total Current Liabilities	$58.8B 14.1%	$51.5B 10.1%	$46.8B 19.6%	$39.1B 10.3%	$35.4B
Long Term Debt	$146.0M -37.1%	$232.0M -99.5%	$43.6B 39.5%	$31.3B -0.2%	$31.4B
Operating Lease Liabilities Noncurrent	$1.6B -1.8%	$1.6B 15.6%	$1.4B -11.0%	$1.6B -4.3%	$1.7B
Deferred Tax Liabilities	$0	$0	$0	$0	$0
Other Noncurrent Liabilities	$7.2B 3.7%	$6.9B -7.6%	$7.5B -11.1%	$8.4B -18.9%	$10.4B
Total Liabilities	$103.9B 3.0%	$100.9B 0.5%	$100.4B 18.6%	$84.7B -2.4%	$86.7B
Equity
Preferred Stock	$0	$0	$0	$0	$0
Common Stock	$38.1B 1.8%	$37.4B 1.0%	$37.1B -2.3%	$37.9B 1.2%	$37.5B
Retained Earnings	$56.7B 5.8%	$53.6B 2.8%	$52.2B -0.2%	$52.3B 4.0%	$50.3B
Treasury Stock	$26.9B -0.9%	$27.1B 0.5%	$27.0B 73.7%	$15.5B 22.0%	$12.7B
Accumulated Other Comprehensive Income	$-2.7B 27.6%	$-3.8B -55.2%	$-2.4B -19.9%	$-2.0B -5.4%	$-1.9B
Noncontrolling Interest	$1.9B 5.1%	$1.8B 9.6%	$1.6B 4.3%	$1.5B -3.1%	$1.6B
Total Stockholders Equity	$65.2B 8.5%	$60.2B 0.6%	$59.8B -17.7%	$72.6B -0.6%	$73.1B
Total Liabilitiesand Equity	$171.1B 5.0%	$162.9B 0.6%	$161.9B 1.9%	$158.9B -1.6%	$161.4B

Income Statement

Revenue, expense, and profitability

18 accounts · 5 years

Revenue $88.6B

Operating income $9.3B

Net income $6.7B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	$88.6B 9.7%	$80.7B 17.1%	$68.9B 2.8%	$67.1B 4.2%	$64.4B
Expenses Cost of Revenue	$79.7B 7.6%	$74.1B 13.2%	$65.4B 6.1%	$61.7B 3.4%	$59.7B
Expenses Research and Development	$2.8B -4.3%	$2.9B 4.6%	$2.8B 3.5%	$2.7B -0.8%	$2.7B
Expenses Selling,General and Administrative	$6.1B 5.0%	$5.8B -0.1%	$5.8B 4.2%	$5.6B 10.4%	$5.0B
Expenses Depreciation and Amortization	$4.4B 0.3%	$4.4B 3.6%	$4.2B 2.5%	$4.1B -9.9%	$4.6B
Expenses Share Based Compensation	$519.0M 18.8%	$437.0M 2.8%	$425.0M 1.2%	$420.0M -5.0%	$442.0M
Expenses Operating Expenses	$79.7B 7.6%	$74.1B 13.2%	$65.4B 6.1%	$61.7B 3.4%	$59.7B
Other Income Expense Operating Income	$9.3B 42.2%	$6.5B 83.6%	$3.6B -35.3%	$5.5B 7.2%	$5.1B
Other Income Expense Interest Income	$-1.7B 6.1%	$-1.9B -23.7%	$-1.5B	—	—
Other Income Expense Other Income/expense	$-567.0M -64.8%	$-344.0M -225.1%	$275.0M 144.9%	$-613.0M -2370.4%	$27.0M
Other Income Expense Income Before Tax	$8.7B 41.0%	$6.2B 61.5%	$3.8B -37.3%	$6.1B 19.7%	$5.1B
Income Tax Income Tax Expense	$1.7B 40.9%	$1.2B 159.0%	$456.0M -42.3%	$790.0M -18.0%	$964.0M
net Income net Income	$6.7B 41.0%	$4.8B 49.4%	$3.2B -38.5%	$5.2B 34.5%	$3.9B
net Income Comprehensive Income	$7.8B 126.0%	$3.4B 23.0%	$2.8B -45.2%	$5.1B -10.4%	$5.7B
Earnings Per Share Basic Eps	$5 40.2%	$4 59.8%	$2 -36.4%	$4 37.0%	$3
Earnings Per Share Diluted Eps	$5 39.7%	$4 59.2%	$2 -36.3%	$4 36.7%	$3
Earnings Per Share Weighted Average Shares Basic	$1.3B 0.7%	$1.3B -6.6%	$1.4B -3.4%	$1.5B -1.7%	$1.5B
Earnings Per Share Weighted Average Shares Diluted	$1.4B 1.0%	$1.3B -6.4%	$1.4B -3.4%	$1.5B -1.5%	$1.5B

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 5 years

Operating cash flow $10.6B

Investing cash flow $-1.3B

Financing cash flow $-7.5B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	$6.7B 41.0%	$4.8B 49.4%	$3.2B -38.5%	$5.2B 34.5%	$3.9B
Operating Activities Depreciation and Amortization	$4.4B 0.3%	$4.4B 3.6%	$4.2B 2.5%	$4.1B -9.9%	$4.6B
Operating Activities Stock Based Compensation	$519.0M 18.8%	$437.0M 2.8%	$425.0M 1.2%	$420.0M -5.0%	$442.0M
Operating Activities Deferred Income Taxes	$789.0M 1778.7%	$-47.0M 88.3%	$-402.0M 75.8%	$-1.7B -1789.8%	$-88.0M
Operating Activities Changes In Operating Assets and Liabilities	$3.3B -1.2%	$3.3B -2.3%	$3.4B 41.5%	$2.4B 100.2%	$1.2B
Operating Activities Other Non Cash Items	$-476.0M -252.6%	$-135.0M -381.3%	$48.0M 136.1%	$-133.0M 84.7%	$-871.0M
Operating Activities net Cash From Operating Activities	$10.6B 47.6%	$7.2B -9.2%	$7.9B 10.0%	$7.2B 0.4%	$7.1B
Investing Activities Capital Expenditures	$2.6B 0.1%	$2.6B 8.7%	$2.4B 5.6%	$2.3B 7.2%	$2.1B
Investing Activities Other Investing Activities	$123.0M 289.2%	$-65.0M -441.7%	$-12.0M 87.2%	$-94.0M 35.2%	$-145.0M
Investing Activities net Cash From Investing Activities	$-1.3B 17.5%	$-1.5B 49.5%	$-3.0B -7.4%	$-2.8B -107.4%	$-1.4B
Financing Activities Proceeds From Debt	$0	$0 -100.0%	$12.9B 1291300.0%	$1.0M -100.0%	$4.1B
Financing Activities Repayment of Debt	$3.4B 37.2%	$2.5B 332.5%	$578.0M 19166.7%	$3.0M -99.9%	$4.3B
Financing Activities Repurchase of Common Stock	$50.0M -88.7%	$444.0M -96.6%	$12.9B 359.2%	$2.8B 20.5%	$2.3B
Financing Activities Dividends Paid	$3.6B 11.1%	$3.2B -0.7%	$3.2B 3.5%	$3.1B 5.8%	$3.0B
Financing Activities Other Financing Activities	$-433.0M 5.0%	$-456.0M -98.3%	$-230.0M 44.6%	$-415.0M 7.2%	$-447.0M
Financing Activities net Cash From Financing Activities	$-7.5B -13.1%	$-6.6B -46.2%	$-4.5B 22.7%	$-5.9B 13.3%	$-6.8B
Cash Reconciliation Effect of Exchange Rate On Cash	$48.0M 271.4%	$-28.0M -255.6%	$18.0M 142.9%	$-42.0M -4100.0%	$-1.0M
Cash Reconciliation net Change In Cash	$1.9B 282.7%	$-1.0B -404.5%	$335.0M 121.4%	$-1.6B -59.6%	$-979.0M
Cash Reconciliation Cash At Beginning of Period	$7.5B 33.3%	$5.6B -14.9%	$6.6B 5.9%	$6.2B -20.6%	$7.8B
Cash Reconciliation Cash At End of Period	$7.5B 33.3%	$5.6B -14.9%	$6.6B 5.9%	$6.2B -20.6%	$7.8B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+10.0%	+8.3%	+5.0%	+8.0%	+7.3%
Operating margin	+10.5%	+8.1%	+5.2%	+8.2%	+8.0%
Net margin	+7.6%	+5.9%	+4.6%	+7.7%	+6.0%
FCF margin	+9.0%	+5.6%	+7.9%	+7.3%	+7.8%
Growth
Revenue CAGR (3y)	+9.7%	+7.8%	+6.8%	+13.9%	+22.9%
Returns
ROE	+10.3%	+7.9%	+5.3%	+7.2%	+5.3%
ROA	+3.9%	+2.9%	+2.0%	+3.3%	+2.4%
ROIC	+12.9%	+9.6%	+3.2%	+4.9%	+4.3%
Liquidity
Current ratio	1.03x	0.99x	1.04x	1.09x	1.19x
Quick ratio	0.38x	0.32x	0.37x	0.39x	0.49x
Leverage
D/E	1.59x	1.68x	1.68x	1.17x	1.19x
Interest coverage	—	3.51x	2.37x	4.31x	3.89x
Efficiency
Asset turnover	0.52x	0.50x	0.43x	0.42x	0.40x
Cash conversion cycle	+49d	+49d	+63d	+54d	+57d

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RTX Corporation

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