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RTX Corp Financials

RTX
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

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).

Rhea AI RTX FY2025

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 from 5.2% to 10.5%, 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 $7.4B and current assets only narrowly covered current liabilities. Even so, long-term debt fell to $34.3B, which implies recurring cash generation is doing much of the balance-sheet repair.

RTX’s cash conversion strengthened in FY2025: $10.6B of operating cash flow became $7.9B of free cash flow after capital spending. That points to a business with limited reinvestment needs relative to its cash intake, leaving capacity for dividends and deleveraging.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 52 / 100
Financial Health Score 52/100

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.

Profitability
68

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.

Growth
72

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.

Leverage
31

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.

Liquidity
20

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.

Cash Flow
60

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.

Returns
59

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.

Altman Z-Score Grey Zone
2.69

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.

Piotroski F-Score Partial
7/8

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.

Earnings Quality Cash-Backed
1.57x

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

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Earnings & Revenue

Revenue
$88.6B
YoY+9.7%
5Y CAGR+9.4%
10Y CAGR+4.7%

RTX Corp generated $88.6B in revenue in fiscal year 2025. This represents an increase of 9.7% from the prior year.

EBITDA
$13.7B
YoY+25.5%
5Y CAGR+43.3%
10Y CAGR+4.1%

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.

Net Income
$6.7B
YoY+41.0%
10Y CAGR-1.2%

RTX Corp reported $6.7B in net income in fiscal year 2025. This represents an increase of 41.0% from the prior year.

EPS (Diluted)
$4.96
YoY+39.7%
10Y CAGR-5.4%

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

Free Cash Flow
$7.9B
YoY+75.1%
5Y CAGR+25.6%
10Y CAGR+4.5%

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.

Cash & Debt
$7.4B
YoY+33.3%
5Y CAGR-3.3%
10Y CAGR+0.5%

RTX Corp held $7.4B in cash against $34.3B in long-term debt as of fiscal year 2025.

Dividends Per Share
$2.67
YoY+7.7%
5Y CAGR+4.3%
10Y CAGR+0.4%

RTX Corp paid $2.67 per share in dividends in fiscal year 2025. This represents an increase of 7.7% from the prior year.

Shares Outstanding
1.34B
YoY+0.8%
5Y CAGR-2.4%
10Y CAGR+4.8%

RTX Corp had 1.34B shares outstanding in fiscal year 2025. This represents an increase of 0.8% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
10.5%
YoY+2.4pp
5Y CAGR+13.8pp
10Y CAGR-2.5pp

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.

Net Margin
7.6%
YoY+1.7pp
5Y CAGR+13.8pp
10Y CAGR-6.0pp

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.

Return on Equity
10.3%
YoY+2.4pp
5Y CAGR+15.2pp
10Y CAGR-17.5pp

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

R&D Spending
$2.8B
YoY-4.3%
5Y CAGR+1.7%
10Y CAGR+2.1%

RTX Corp invested $2.8B in research and development in fiscal year 2025. This represents a decrease of 4.3% from the prior year.

Share Buybacks
$50.0M
YoY-88.7%
5Y CAGR+1.2%
10Y CAGR-41.1%

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.

Capital Expenditures
$2.6B
YoY+0.1%
5Y CAGR+7.9%
10Y CAGR+4.7%

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

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.

RTX Corp (RTX) revenue grew by 9.7% year-over-year, from $80.7B to $88.6B in fiscal year 2025.

Yes, RTX Corp (RTX) reported a net income of $6.7B in fiscal year 2025, with a net profit margin of 7.6%.

RTX Corp (RTX) reported diluted earnings per share of $4.96 for fiscal year 2025. This represents a 39.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

RTX Corp (RTX) had EBITDA of $13.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, RTX Corp (RTX) had $7.4B in cash and equivalents against $34.3B in long-term debt.

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.

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.

Yes, RTX Corp (RTX) paid $2.67 per share in dividends during fiscal year 2025.

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.

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.

RTX Corp (RTX) generated $10.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

RTX Corp (RTX) had $171.1B in total assets as of fiscal year 2025, including both current and long-term assets.

RTX Corp (RTX) invested $2.6B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

RTX Corp (RTX) invested $2.8B in research and development during fiscal year 2025.

Yes, RTX Corp (RTX) spent $50.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

RTX Corp (RTX) had 1.34B shares outstanding as of fiscal year 2025.

RTX Corp (RTX) had a current ratio of 1.03 as of fiscal year 2025, which is considered adequate.

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.

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.

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.

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.

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.

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.

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