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

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

32 accounts · 10 years

Total assets $171.1B

Total liabilities $103.9B

Shareholders equity $65.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	4.3%	3.4%	4.1%	3.9%	4.9%	5.4%	3.5%	4.6%	9.3%	8.0%
Short Term Investments	0.4%	0.5%	0.5%	0.5%	0.6%	0.5%	—	—	—	—
Accounts Receivable	8.6%	6.7%	6.7%	5.7%	6.0%	5.7%	9.7%	10.6%	13.0%	12.8%
Inventory	7.8%	7.8%	7.3%	6.7%	5.7%	5.8%	7.8%	7.5%	10.2%	9.7%
Prepaid Expenses	4.5%	4.4%	4.4%	3.1%	2.5%	3.6%	1.0%	1.1%	1.4%	1.3%
Other Current Assets	4.5%	4.4%	4.4%	3.1%	2.5%	3.6%	1.0%	1.1%	1.4%	1.3%
Total Current Assets	35.3%	31.4%	29.9%	26.7%	26.1%	26.8%	26.8%	26.5%	33.9%	31.8%
Property,Plant and Equipment	9.9%	9.9%	9.7%	9.5%	9.3%	9.2%	9.1%	9.2%	10.5%	10.2%
Operating Lease Assets	1.1%	1.1%	1.0%	1.2%	1.2%	1.2%	1.9%	0.0%	—	—
Goodwill	31.2%	32.4%	33.2%	33.9%	33.7%	33.5%	34.4%	35.8%	28.8%	30.2%
Intangible Assets	18.6%	20.5%	21.9%	23.2%	23.9%	25.0%	18.6%	19.7%	16.4%	17.5%
Other Noncurrent Assets	2.7%	3.3%	2.8%	3.9%	4.1%	2.4%	5.5%	5.4%	6.2%	6.7%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	9.3%	7.9%	6.6%	6.2%	5.4%	5.3%	7.7%	8.3%	9.9%	8.3%
Accrued Liabilities	8.4%	9.1%	1.5%	6.9%	6.3%	6.4%	8.4%	7.6%	12.7%	13.6%
Deferred Revenue	12.6%	11.4%	10.6%	9.2%	8.5%	7.9%	4.4%	4.3%	—	—
Current Portion of Long Term Debt	0.1%	0.1%	0.1%	0.4%	0.1%	0.2%	1.7%	1.1%	0.4%	0.7%
Other Current Liabilities	4.2%	4.3%	4.6%	5.3%	6.5%	5.9%	8.3%	8.8%	13.4%	12.3%
Total Current Liabilities	34.4%	31.6%	28.9%	24.6%	22.0%	22.1%	24.8%	23.4%	25.2%	24.4%
Long Term Debt	0.1%	0.1%	27.0%	19.7%	19.4%	19.5%	29.5%	32.8%	28.0%	26.0%
Operating Lease Liabilities Noncurrent	0.9%	1.0%	0.9%	1.0%	1.0%	0.9%	1.5%	0.0%	—	—
Deferred Tax Liabilities	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Other Noncurrent Liabilities	4.2%	4.3%	4.6%	5.3%	6.5%	5.9%	8.3%	8.8%	13.4%	12.3%
Total Liabilities	60.8%	62.0%	62.0%	53.3%	53.7%	54.4%	—	69.7%	67.4%	67.2%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	22.3%	23.0%	22.9%	23.9%	23.2%	22.8%	16.5%	16.8%	18.1%	19.3%
Retained Earnings	33.2%	32.9%	32.2%	32.9%	31.1%	30.5%	44.1%	43.1%	57.0%	58.9%
Treasury Stock	15.7%	16.6%	16.7%	9.8%	7.9%	6.4%	23.4%	24.2%	36.7%	38.1%
Accumulated Other Comprehensive Income	-1.6%	-2.3%	-1.5%	-1.3%	-1.2%	-2.3%	-7.3%	-7.0%	-7.8%	-9.3%
Noncontrolling Interest	1.1%	1.1%	1.0%	1.0%	1.0%	1.0%	1.8%	1.6%	1.9%	1.8%
Total Stockholders Equity	38.1%	36.9%	36.9%	45.7%	45.3%	44.5%	29.9%	28.6%	30.6%	30.7%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

18 accounts · 10 years

Revenue $88.6B

Operating income $9.3B

Net income $6.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	51.8%	49.6%	42.6%	42.2%	39.9%	34.9%	32.5%	25.9%	61.7%	63.8%
Expenses Cost of Revenue	46.6%	45.5%	40.4%	38.8%	37.0%	34.6%	29.2%	24.0%	32.0%	33.8%
Expenses Research and Development	1.6%	1.8%	1.7%	1.7%	1.7%	1.6%	1.8%	1.4%	2.5%	2.6%
Expenses Selling,General and Administrative	3.6%	3.6%	3.6%	3.5%	3.1%	3.4%	2.7%	2.1%	6.6%	6.6%
Expenses Depreciation and Amortization	2.6%	2.7%	2.6%	2.6%	2.8%	2.6%	1.9%	1.4%	2.2%	2.2%
Expenses Share Based Compensation	0.3%	0.3%	0.3%	0.3%	0.3%	0.2%	0.2%	0.1%	0.2%	0.2%
Expenses Operating Expenses	46.6%	45.5%	40.4%	38.8%	37.0%	34.6%	29.2%	24.0%	54.7%	55.5%
Other Income Expense Operating Income	5.4%	4.0%	2.2%	3.5%	3.2%	-1.2%	3.5%	2.1%	8.4%	9.2%
Other Income Expense Interest Income	-1.0%	-1.1%	-0.9%	—	—	—	—	—	—	—
Other Income Expense Other Income/expense	-0.3%	-0.2%	0.2%	-0.4%	0.0%	0.3%	0.5%	0.3%	—	—
Other Income Expense Income Before Tax	5.1%	3.8%	2.4%	3.9%	3.2%	-1.5%	3.0%	1.9%	8.0%	8.0%
Income Tax Income Tax Expense	1.0%	0.7%	0.3%	0.5%	0.6%	0.4%	0.3%	0.8%	2.9%	1.9%
net Income net Income	3.9%	2.9%	2.0%	3.3%	2.4%	-2.2%	4.0%	3.9%	4.7%	5.6%
net Income Comprehensive Income	4.5%	2.1%	1.7%	3.2%	3.5%	-0.6%	3.9%	2.6%	5.5%	4.8%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.8%	0.8%	0.9%	0.9%	0.9%	0.8%	0.6%	0.6%	0.8%	0.9%
Earnings Per Share Weighted Average Shares Diluted	0.8%	0.8%	0.9%	0.9%	0.9%	0.8%	0.6%	0.6%	0.8%	0.9%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 10 years

Operating cash flow $10.6B

Investing cash flow $-1.3B

Financing cash flow $-7.5B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	3.9%	2.9%	2.0%	3.3%	2.4%	-2.2%	4.0%	3.9%	4.7%	5.6%
Operating Activities Depreciation and Amortization	2.6%	2.7%	2.6%	2.6%	2.8%	2.6%	1.9%	1.4%	2.2%	2.2%
Operating Activities Stock Based Compensation	0.3%	0.3%	0.3%	0.3%	0.3%	0.2%	0.2%	0.1%	0.2%	0.2%
Operating Activities Deferred Income Taxes	0.5%	-0.0%	-0.2%	-1.0%	-0.1%	-0.1%	0.0%	0.6%	0.1%	0.4%
Operating Activities Changes In Operating Assets and Liabilities	1.9%	2.1%	2.1%	1.5%	0.7%	0.4%	1.8%	0.6%	1.1%	0.8%
Operating Activities Other Non Cash Items	-0.3%	-0.1%	0.0%	-0.1%	-0.5%	—	—	—	—	—
Operating Activities net Cash From Operating Activities	6.2%	4.4%	4.9%	4.5%	4.4%	2.7%	4.2%	2.0%	5.8%	7.1%
Investing Activities Capital Expenditures	1.5%	1.6%	1.5%	1.4%	1.3%	1.1%	1.3%	1.1%	2.1%	1.9%
Investing Activities Other Investing Activities	0.1%	-0.0%	-0.0%	-0.1%	-0.1%	-0.0%	0.2%	0.1%	-0.2%	-0.1%
Investing Activities net Cash From Investing Activities	-0.7%	-0.9%	-1.9%	-1.8%	-0.8%	2.1%	-1.9%	-12.9%	-3.1%	-2.8%
Financing Activities Proceeds From Debt	0.0%	0.0%	8.0%	0.0%	2.5%	1.2%	-0.0%	9.9%	5.1%	7.2%
Financing Activities Repayment of Debt	2.0%	1.5%	0.4%	0.0%	2.6%	9.9%	1.9%	1.9%	1.7%	2.7%
Financing Activities Repurchase of Common Stock	0.0%	0.3%	8.0%	1.8%	1.4%	0.0%	0.1%	0.2%	1.5%	2.5%
Financing Activities Dividends Paid	2.1%	2.0%	2.0%	2.0%	1.8%	1.7%	1.7%	1.6%	2.1%	2.3%
Financing Activities Other Financing Activities	-0.3%	-0.3%	-0.1%	-0.3%	-0.3%	-0.1%	0.1%	0.2%	-0.6%	-0.6%
Financing Activities net Cash From Financing Activities	-4.4%	-4.1%	-2.8%	-3.7%	-4.2%	-2.4%	-1.4%	9.1%	-1.0%	-1.3%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	-0.0%	0.0%	-0.0%	-0.0%	0.0%	-0.0%	-0.1%	0.2%	-0.1%
Cash Reconciliation net Change In Cash	1.1%	-0.6%	0.2%	-1.0%	-0.6%	0.9%	0.9%	-2.1%	—	—
Cash Reconciliation Cash At Beginning of Period	4.4%	3.4%	4.1%	3.9%	4.9%	5.4%	3.6%	2.8%	9.3%	8.0%
Cash Reconciliation Cash At End of Period	4.4%	3.4%	4.1%	3.9%	4.9%	5.4%	3.6%	2.8%	9.3%	8.0%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+10.0%	+8.3%	+5.0%	+8.0%	+7.3%	+0.7%	+10.1%	+7.2%	+48.1%	+47.0%
Operating margin	+10.5%	+8.1%	+5.2%	+8.2%	+8.0%	-3.3%	+10.8%	+8.3%	+13.6%	+14.4%
Net margin	+7.6%	+5.9%	+4.6%	+7.7%	+6.0%	-6.2%	+12.2%	+15.2%	+7.6%	+8.8%
FCF margin	+9.0%	+5.6%	+7.9%	+7.3%	+7.8%	+4.5%	+8.7%	+3.5%	+6.0%	+8.2%
Growth
Revenue CAGR (3y)	+9.7%	+7.8%	+6.8%	+13.9%	+22.9%	-1.8%	-7.5%	-14.8%	+1.1%	+0.4%
Returns
ROE	+10.3%	+7.9%	+5.3%	+7.2%	+5.3%	-4.9%	+13.3%	+13.7%	+15.4%	+18.3%
ROA	+3.9%	+2.9%	+2.0%	+3.3%	+2.4%	-2.2%	+4.0%	+3.9%	+4.7%	+5.6%
ROIC	+12.9%	+9.6%	+3.2%	+4.9%	+4.3%	-2.0%	+5.5%	+2.1%	+10.7%	+14.1%
Liquidity
Current ratio	1.03x	0.99x	1.04x	1.09x	1.19x	1.21x	1.08x	1.13x	1.35x	1.30x
Quick ratio	0.38x	0.32x	0.37x	0.39x	0.49x	0.50x	0.53x	0.65x	0.88x	0.85x
Leverage
D/E	1.59x	1.68x	1.68x	1.17x	1.19x	1.22x	2.34x	2.43x	2.21x	2.18x
Interest coverage	—	3.51x	2.37x	4.31x	3.89x	-1.38x	3.09x	2.79x	8.95x	7.91x
Efficiency
Asset turnover	0.52x	0.50x	0.43x	0.42x	0.40x	0.35x	0.32x	0.26x	0.62x	0.64x
Cash conversion cycle	+49d	+49d	+63d	+54d	+57d	+65d	+110d	+139d	+80d	+88d

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RTX Corporation

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