This page shows RTX Corp (RTX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash-funded margin recovery turned higher sales into debt reduction and stronger returns without building a large liquidity buffer.
From FY2023 to FY2025, operating margin rose from5.2% to10.5% , showing that the recovery was not just more volume but a business carrying its overhead more efficiently. That improvement reached cash as well: FY2025 SG&A was$6.1B while operating cash flow reached$10.6B , so the earnings rebound was backed by cash generation rather than accounting alone.
The balance sheet looks operationally financed rather than cash-rich: cash was
RTX’s cash conversion strengthened in FY2025:
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of RTX Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
RTX Corp has an operating margin of 10.5%, meaning the company retains $11 of operating profit per $100 of revenue. This strong profitability earns a score of 68/100, reflecting efficient cost management and pricing power. This is up from 8.1% the prior year.
RTX Corp's revenue grew 9.7% year-over-year to $88.6B, a solid pace of expansion. This earns a growth score of 72/100.
RTX Corp has a moderate D/E ratio of 0.53. This balance of debt and equity financing earns a leverage score of 31/100.
RTX Corp's current ratio of 1.03 is below the typical benchmark, resulting in a score of 20/100. This tight liquidity could limit financial flexibility if cash inflows slow.
RTX Corp has a free cash flow margin of 9.0%, earning a moderate score of 60/100. The company generates positive cash flow after capital investments, but with room for improvement.
RTX Corp's ROE of 10.3% shows moderate profitability relative to equity, earning a score of 59/100. This is up from 7.9% the prior year.
RTX Corp scores 2.69, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($262.9B) relative to total liabilities ($103.9B). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
RTX Corp passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, RTX Corp generates $1.57 in operating cash flow ($10.6B OCF vs $6.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
RTX Corp generated $88.6B in revenue in fiscal year 2025. This represents an increase of 9.7% from the prior year.
RTX Corp's EBITDA was $13.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 25.5% from the prior year.
RTX Corp reported $6.7B in net income in fiscal year 2025. This represents an increase of 41.0% from the prior year.
RTX Corp earned $4.96 per diluted share (EPS) in fiscal year 2025. This represents an increase of 39.7% from the prior year.
Cash & Balance Sheet
RTX Corp generated $7.9B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 75.1% from the prior year.
RTX Corp held $7.4B in cash against $34.3B in long-term debt as of fiscal year 2025.
RTX Corp paid $2.67 per share in dividends in fiscal year 2025. This represents an increase of 7.7% from the prior year.
RTX Corp had 1.34B shares outstanding in fiscal year 2025. This represents an increase of 0.8% from the prior year.
Margins & Returns
RTX Corp's operating margin was 10.5% in fiscal year 2025, reflecting core business profitability. This is up 2.4 percentage points from the prior year.
RTX Corp's net profit margin was 7.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.7 percentage points from the prior year.
RTX Corp's ROE was 10.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.4 percentage points from the prior year.
Capital Allocation
RTX Corp invested $2.8B in research and development in fiscal year 2025. This represents a decrease of 4.3% from the prior year.
RTX Corp spent $50.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 88.7% from the prior year.
RTX Corp invested $2.6B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 0.1% from the prior year.
RTX Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $22.1B-8.9% | $24.2B+7.8% | $22.5B+4.2% | $21.6B+6.3% | $20.3B-6.1% | $21.6B+7.6% | $20.1B+1.9% | $19.7B |
| Cost of Revenue | $13.0B | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $2.8B | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $627.0M-20.5% | $789.0M+15.4% | $684.0M-1.9% | $697.0M+9.4% | $637.0M-21.2% | $808.0M+7.6% | $751.0M+6.4% | $706.0M |
| SG&A Expenses | $1.5B-9.9% | $1.6B+14.1% | $1.4B-8.7% | $1.6B+8.6% | $1.4B-8.0% | $1.6B+13.3% | $1.4B-4.1% | $1.4B |
| Operating Income | $2.6B-1.6% | $2.6B+2.9% | $2.5B+17.6% | $2.1B+5.5% | $2.0B-3.6% | $2.1B+4.1% | $2.0B+283.4% | $529.0M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | $486.0M-2.0% | $496.0M+4.4% | $475.0M |
| Income Tax | $363.0M-37.8% | $584.0M+35.2% | $432.0M+37.1% | $315.0M-5.4% | $333.0M-25.8% | $449.0M+21.0% | $371.0M+46.6% | $253.0M |
| Net Income | $2.1B+26.9% | $1.6B-15.4% | $1.9B+15.8% | $1.7B+7.9% | $1.5B+3.6% | $1.5B+0.7% | $1.5B+1226.1% | $111.0M |
| EPS (Diluted) | $1.51 | N/A | $1.41+15.6% | $1.22+7.0% | $1.14 | N/A | $1.09+1262.5% | $0.08 |
RTX Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $170.4B-0.4% | $171.1B+1.4% | $168.7B+0.9% | $167.1B+1.4% | $164.9B+1.2% | $162.9B-1.2% | $164.8B+2.3% | $161.2B |
| Current Assets | $60.0B-0.5% | $60.3B+5.6% | $57.1B+4.5% | $54.7B+3.3% | $52.9B+3.5% | $51.1B-1.2% | $51.8B+5.2% | $49.2B |
| Cash & Equivalents | $6.8B-8.3% | $7.4B+24.6% | $6.0B+24.8% | $4.8B-7.3% | $5.2B-7.5% | $5.6B-16.5% | $6.7B+11.2% | $6.0B |
| Inventory | $14.2B+5.9% | $13.4B-3.2% | $13.8B-1.5% | $14.0B+2.9% | $13.6B+6.7% | $12.8B-5.2% | $13.5B+3.2% | $13.0B |
| Accounts Receivable | $12.9B-11.9% | $14.7B+14.5% | $12.8B+3.6% | $12.4B+8.4% | $11.4B+4.1% | $11.0B+8.7% | $10.1B-1.5% | $10.3B |
| Goodwill | $53.3B-0.1% | $53.3B+0.1% | $53.3B0.0% | $53.3B+0.5% | $53.0B+0.5% | $52.8B-1.8% | $53.8B+0.8% | $53.3B |
| Total Liabilities | $102.4B-1.5% | $103.9B+1.6% | $102.3B-0.6% | $102.9B+1.4% | $101.5B+0.6% | $100.9B-1.0% | $102.0B+1.5% | $100.5B |
| Current Liabilities | $58.6B-0.3% | $58.8B+10.4% | $53.2B-2.0% | $54.3B+3.2% | $52.6B+2.2% | $51.5B-1.4% | $52.2B+5.4% | $49.6B |
| Long-Term Debt | $33.0B-3.8% | $34.3B-10.4% | $38.3B0.0% | $38.3B0.0% | $38.2B-6.9% | $41.1B+5.8% | $38.8B-3.7% | $40.3B |
| Total Equity | $66.3B+1.6% | $65.2B+1.1% | $64.5B+3.4% | $62.4B+1.4% | $61.5B+2.3% | $60.2B-1.6% | $61.1B+3.6% | $59.0B |
| Retained Earnings | $57.9B+2.0% | $56.7B+1.3% | $56.0B+3.5% | $54.1B-0.3% | $54.3B+1.3% | $53.6B+1.2% | $52.9B+2.8% | $51.5B |
RTX Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.9B-55.5% | $4.2B-10.2% | $4.6B+912.9% | $458.0M-64.9% | $1.3B-16.4% | $1.6B-38.1% | $2.5B-7.7% | $2.7B |
| Capital Expenditures | $546.0M-43.7% | $970.0M+58.0% | $614.0M+15.8% | $530.0M+3.3% | $513.0M-52.0% | $1.1B+93.7% | $552.0M+2.8% | $537.0M |
| Free Cash Flow | $1.3B-59.0% | $3.2B-20.6% | $4.0B+5690.3% | -$72.0M-109.1% | $792.0M+61.0% | $492.0M-75.0% | $2.0B-10.2% | $2.2B |
| Investing Cash Flow | -$608.0M-10.7% | -$549.0M-216.6% | $471.0M+192.5% | -$509.0M+24.9% | -$678.0M+13.0% | -$779.0M-9.0% | -$715.0M+2.5% | -$733.0M |
| Financing Cash Flow | -$1.8B+14.6% | -$2.2B+45.1% | -$3.9B-1011.3% | -$353.0M+66.6% | -$1.1B+43.5% | -$1.9B-61.3% | -$1.2B+26.9% | -$1.6B |
| Dividends Paid | $915.0M+0.1% | $914.0M+0.4% | $910.0M0.0% | $910.0M+8.3% | $840.0M+4.7% | $802.0M-2.6% | $823.0M0.0% | $823.0M |
| Share Buybacks | $0 | $0 | $0 | $0-100.0% | $50.0M0.0% | $50.0M-83.0% | $294.0M+568.2% | $44.0M |
RTX Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.5% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 11.6%+0.9pp | 10.7%-0.5pp | 11.2%+1.3pp | 9.9%-0.1pp | 10.0%+0.3pp | 9.8%-0.3pp | 10.1%+7.4pp | 2.7% |
| Net Margin | 9.3%+2.6pp | 6.7%-1.8pp | 8.5%+0.9pp | 7.7%+0.1pp | 7.6%+0.7pp | 6.9%-0.5pp | 7.3%+6.8pp | 0.6% |
| Return on Equity | 3.1%+0.6pp | 2.5%-0.5pp | 3.0%+0.3pp | 2.7%+0.2pp | 2.5%+0.0pp | 2.5%+0.1pp | 2.4%+2.2pp | 0.2% |
| Return on Assets | 1.2%+0.3pp | 0.9%-0.2pp | 1.1%+0.1pp | 1.0%+0.1pp | 0.9%+0.0pp | 0.9%+0.0pp | 0.9%+0.8pp | 0.1% |
| Current Ratio | 1.020.0 | 1.03-0.0 | 1.07+0.1 | 1.010.0 | 1.01+0.0 | 0.990.0 | 0.990.0 | 0.99 |
| Debt-to-Equity | 0.50-0.0 | 0.53-0.1 | 0.59-0.0 | 0.610.0 | 0.62-0.1 | 0.68+0.0 | 0.64-0.0 | 0.68 |
| FCF Margin | 5.9%-7.3pp | 13.2%-4.7pp | 17.9%+18.2pp | -0.3%-4.2pp | 3.9%+1.6pp | 2.3%-7.5pp | 9.8%-1.3pp | 11.1% |
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Frequently Asked Questions
What is RTX Corp's annual revenue?
RTX Corp (RTX) reported $88.6B in total revenue for fiscal year 2025. This represents a 9.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is RTX Corp's revenue growing?
RTX Corp (RTX) revenue grew by 9.7% year-over-year, from $80.7B to $88.6B in fiscal year 2025.
Is RTX Corp profitable?
Yes, RTX Corp (RTX) reported a net income of $6.7B in fiscal year 2025, with a net profit margin of 7.6%.
What is RTX Corp's EBITDA?
RTX Corp (RTX) had EBITDA of $13.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does RTX Corp have?
As of fiscal year 2025, RTX Corp (RTX) had $7.4B in cash and equivalents against $34.3B in long-term debt.
What is RTX Corp's operating margin?
RTX Corp (RTX) had an operating margin of 10.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is RTX Corp's net profit margin?
RTX Corp (RTX) had a net profit margin of 7.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does RTX Corp pay dividends?
Yes, RTX Corp (RTX) paid $2.67 per share in dividends during fiscal year 2025.
What is RTX Corp's return on equity (ROE)?
RTX Corp (RTX) has a return on equity of 10.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is RTX Corp's free cash flow?
RTX Corp (RTX) generated $7.9B in free cash flow during fiscal year 2025. This represents a 75.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is RTX Corp's operating cash flow?
RTX Corp (RTX) generated $10.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are RTX Corp's total assets?
RTX Corp (RTX) had $171.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are RTX Corp's capital expenditures?
RTX Corp (RTX) invested $2.6B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does RTX Corp spend on research and development?
RTX Corp (RTX) invested $2.8B in research and development during fiscal year 2025.
What is RTX Corp's current ratio?
RTX Corp (RTX) had a current ratio of 1.03 as of fiscal year 2025, which is considered adequate.
What is RTX Corp's debt-to-equity ratio?
RTX Corp (RTX) had a debt-to-equity ratio of 0.53 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is RTX Corp's return on assets (ROA)?
RTX Corp (RTX) had a return on assets of 3.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is RTX Corp's Altman Z-Score?
RTX Corp (RTX) has an Altman Z-Score of 2.69, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is RTX Corp's Piotroski F-Score?
RTX Corp (RTX) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are RTX Corp's earnings high quality?
RTX Corp (RTX) has an earnings quality ratio of 1.57x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is RTX Corp?
RTX Corp (RTX) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.