RTX Corporation (RTX) financials
NYSE · Industrials · Aerospace & Defense · 180,000 employees · CEO Christopher T. Calio
- Price
- $199.80 +0.20%
- Market cap
- $270B
- Enterprise value
- $299B
- Last report
- Q3 '26 filed 2026-10-20
- Next report
- 2027-01-26 EPS est. $1.83
Revenue (TTM)$96B+11.6% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)11.8%+1.5 pp vs a year agoOperating income $11.3B
Net income (TTM)$8.53B+29.4% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$9.13B+86.6% vs a year agoCapex $3.31B
Diluted EPS (TTM)$6.16+26.5% vs a year agoSum of the last 4 quarters
Net cash-$29.7B+14.5% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $270B EV $299B
- Revenue
- $96B Trailing 12 months
- Revenue growth
- +10% FY2026 consensus
- Profit margin
- 8.9% Net income / revenue, TTM
- P/E
- 32.1× Forward 26.0× (FY2026)
- P/S
- 2.8× Price / sales, TTM
- EV / EBITDA
- 17.8× TTM
- Free cash flow
- $9.13B Trailing 12 months
- Net income
- $8.53B Trailing 12 months
- Revenue estimate
- $97.5B FY2026 consensus
- Earnings
- 2027-01-26 Revenue est. $25.9B
- Dividend
- $2.82 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-20): revenue beat by 3.5%, EPS beat by 27.0%Revenue $25B vs $24.1B expected (+3.5%); EPS $2.26 vs $1.78 (+27.0%).
- Revenue growth steady: 11.1% year on yearQ3 '26 revenue $25B, against an average of 11.8% over the four quarters before.
- Operating margin 11.8% (TTM), +1.5 pp on a year agoOperating income grew 28.2% while revenue grew 11.6%.
- Capex 3.4% of revenue (a year ago 3.6%)$3.31B invested in the last 4 quarters (+7.6% on a year earlier). Free cash flow $9.13B = 107.0% of net income.
- Returned $3.8B to shareholders = 41.6% of free cash flowBuybacks $0 (a year earlier $100M), dividends $3.8B, stock-based pay $1.25B (TTM).
- Diluted share count up 0.7% in a year1.37B diluted shares in Q3 '26, 1.36B a year earlier.
- Net debt $29.7BCash + short-term investments $9.17B, debt incl. leases $38.9B; a year ago net debt $34.7B.
- Raytheon: revenue +14.2%, margin 14.2% (was 12.3%)Fastest-growing reported segment in Q3 '26: operating income $1.13B on revenue $8B (from the segment note of the filing).
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $25B | $22.5B | +11.1% |
| Gross margin | 23.3% | 20.4% | +2.9 pp |
| Operating income | $3.34B | $2.52B | +32.3% |
| Operating margin | 13.4% | 11.2% | +2.1 pp |
| Net income | $2.71B | $1.92B | +41.2% |
| Diluted EPS | $1.89 | $1.41 | +34.0% |
| Operating cash flow | $2.87B | $4.64B | -38.2% |
| Capex | $822M | $735M | +11.8% |
| Free cash flow | $2.05B | $3.9B | -47.6% |
| R&D | $711M | $684M | +3.9% |
| Stock-based compensation | $294M | $241M | +22.0% |
Reported vs consensus
2026-10-20| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $25B | $24.1B | +3.5% |
| EPS (as estimated) | $2.26 | $1.78 | +27.0% |
From the report of 2026-10-20 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Pratt and Whitney | $9.23B | +9.6% | 36.0% | $43.4B | – | |
| Collins Aerospace Systems | $8.38B | +10.0% | 32.7% | $39.6B | – | |
| Raytheon Intelligence & Space | $8.03B | +14.0% | 31.3% | $37.9B | – |
Revenue by region
share of total| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| United States | $13.2B | +12.8% | 55.2% | – | – | |
| Europe | $5.67B | +8.5% | 23.6% | $25.1B | – | |
| Asia Pacific | $3.52B | -1.3% | 14.7% | $17.6B | – | |
| Other | $1.56B | +27.7% | 6.5% | $7.38B | – |
Segment profits
Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).
Segments in Q3 '26
| Segment | Revenue | y/y | Operating income | y/y | Margin | Margin a year ago | TTM operating income |
|---|---|---|---|---|---|---|---|
| Pratt And Whitney | $9.22B | +9.4% | $608M | -19.0% | 6.6% | 8.9% | $2.83B |
| Raytheon | $8B | +14.2% | $1.13B | +31.9% | 14.2% | 12.3% | $3.9B |
| Collins Aerospace | $7.7B | +9.9% | $1.79B | +42.0% | 23.2% | 18.0% | $5.8B |
| Corporate (unallocated) | – | – | -$26M | -4.0% | – | – | -$276M |
Operating income by segment
quarterlySegment operating margin
quarterlyFourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $12.4B
- Capex
- -$3.31B
- Buybacks
- $0
- Dividends
- -$3.8B
- Acquisitions
- $743M
- Net debt issued
- -$1.67B
- Stock-based compensation
- $1.25B
- Free cash flow
- $9.13B
- Returned to shareholders / FCF
- 41.6%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 32.1× | 33.7× | 28.7× – 37.6× |
| EV / EBITDA | 17.8× | 15.9× | 14.1× – 18.6× |
| EV / Sales | 3.1× | 2.6× | 2.3× – 3.1× |
| Price / FCF | 29.5× | 30.7× | 25.4× – 34.0× |
| Price / Book | 3.9× | 2.4× | 1.8× – 3.8× |
| FCF yield | 3.4% | 3.3% | 2.9% – 3.9% |
| Return on invested capital | 7.7% | 4.2% | 2.7% – 6.5% |
| Return on equity | 12.8% | 7.2% | 5.3% – 10.3% |
Analysts
Consensus target $232.18 (+16.2%)
range $208.00 – $250.00 · rating Buy
Strong buy0
Buy18
Hold8
Sell0
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $97.5B | +10.0% | $7.69 | +55.0% | 26.0× | 15 |
| FY2027 | $105B | +8.1% | $8.11 | +5.5% | 24.6× | 15 |
| FY2028 | $114B | +7.8% | $9.03 | +11.3% | 22.1× | 12 |
| FY2029 | $119B | +5.1% | $9.80 | +8.5% | 20.4× | 9 |
| FY2030 | $125B | +5.1% | $10.65 | +8.7% | 18.8× | 5 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 288 figures RTX Corporation tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accelerated Share Repurchases, Settlement (Payment) or Receipt | – | – | – | -$261M2024-09-30 | – | – |
| Accounts Payable, Current | $17.8B | $14.6B | +22.3% | $15.9B | $12.9B | +23.2% |
| Accounts Receivable, after Allowance for Credit Loss | $14.7B | $12.8B | +14.4% | $14.7B | $11B | +33.9% |
| Accounts Receivable, Allowance for Credit Loss | $415M | $340M | +22.1% | $340M | $289M | +17.6% |
| Accounts Receivable, Allowance for Credit Loss, Current | $340M2025-12-31 | $289M | +17.6% | $340M | $289M | +17.6% |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | – | – | – | $12M | $7M | +71.4% |
| Accounts Receivable, before Allowance for Credit Loss | $15.1B | $13.2B | +14.6% | – | – | – |
| Accounts Receivable, Credit Loss Expense (Reversal) | – | – | – | $64M | -$14M | +557.1% |
| Accrual for Environmental Loss Contingencies | $800M | $800M | 0.0% | $800M | $800M | 0.0% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $19.5B | $18B | +8.0% | $18.5B | $16.7B | +10.6% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$3.31B | -$2.43B | -36.0% | -$2.72B | -$3.76B | +27.6% |
| Amortization of Intangible Assets | $496M | $520M | -4.6% | $2.1B | $2.2B | -4.5% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1.2M | 700K | +71.4% | 1.4M | 4.8M | -70.8% |
| Assets | $177B | $169B | +4.7% | $171B | $163B | +5.0% |
| Assets, Current | $66.1B | $57.1B | +15.7% | $60.3B | $51.1B | +18.0% |
| Bridge Loan | – | – | – | $10B2023-12-31 | – | – |
| Buildings and Improvements, Gross | $9.19B2025-12-31 | $8.62B | +6.7% | $9.19B | $8.62B | +6.7% |
| Capitalized Contract Cost, Net | $2.7B2025-12-31 | $2.5B | +8.0% | $2.7B | $2.5B | +8.0% |
| Cash and Cash Equivalents, at Carrying Value | $9.17B | $5.97B | +53.8% | $7.44B | $5.58B | +33.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $9.23B | $6B | +53.7% | $7.47B | $5.61B | +33.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $838M | $1.18B | -28.8% | $1.86B | -$1.02B | +282.7% |
| Commercial Paper | $0 | $0 | – | $0 | $0 | – |
| Common Stock, Dividends, Per Share, Declared | $0.00 | $0.00 | – | $2.67 | $2.48 | +7.7% |
| Common Stock, Par or Stated Value Per Share | $1.002025-12-31 | $1.00 | 0.0% | $1.00 | $1.00 | 0.0% |
| Common Stock, Shares Authorized | 4B2025-12-31 | 4B | 0.0% | 4B | 4B | 0.0% |
| Common Stock, Shares, Issued | 1.73B2025-12-31 | 1.72B | +0.4% | 1.73B | 1.72B | +0.4% |
| Common Stocks, Including Additional Paid in Capital | $38.7B | $37.9B | +2.1% | $38.1B | $37.4B | +1.8% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $125M | $88M | +42.0% | $337M | $239M | +41.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $2.58B | $1.88B | +37.7% | $7.77B | $3.44B | +126.0% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $2.71B | $1.97B | +37.9% | $8.11B | $3.68B | +120.5% |
| Construction in Progress, Gross | $3.87B2025-12-31 | $3.74B | +3.5% | $3.87B | $3.74B | +3.5% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $18.7B | $16.6B | +12.6% | $17.1B | $14.6B | +17.3% |
| Contract with Customer, Asset, Allowance for Credit Loss | $676M2025-12-31 | $491M | +37.7% | $676M | $491M | +37.7% |
| Contract with Customer, Asset, Allowance for Credit Loss, Current | $939M | – | – | – | – | – |
| Contract with Customer, Asset, Allowance for Credit Loss, Period Increase (Decrease) | $600M | – | – | – | – | – |
| Contract with Customer, Asset, Allowance for Credit Loss, Writeoff | – | – | – | $0 | $0 | – |
| Contract with Customer, Asset, before Allowance for Credit Loss, Current | $19.6B | – | – | – | – | – |
| Contract with Customer, Asset, Credit Loss Expense (Reversal) | – | – | – | $185M | $294M | -37.1% |
| Contract with Customer, Liability, Current | $21.6B | $20.1B | +7.2% | $21.6B | $18.6B | +16.1% |
| Contract with Customer, Liability, Revenue Recognized | $2.3B | $1.5B | +53.3% | $8.1B | $7.2B | +12.5% |
| Contract with Customer, Performance Obligation Satisfied in Previous Period | $92M | -$18M | +611.1% | -$208M | -$144M | -44.4% |
| Contractual Obligation | $576M2025-12-31 | $654M | -11.9% | $576M | $654M | -11.9% |
| Contractual Obligation, to be Paid, after Year Five | $186M2025-12-31 | $263M | -29.3% | $186M | $263M | -29.3% |
| Contractual Obligation, to be Paid, Year Five | $74M2025-12-31 | $70M | +5.7% | $74M | $70M | +5.7% |
| Contractual Obligation, to be Paid, Year Four | $82M2025-12-31 | $83M | -1.2% | $82M | $83M | -1.2% |
| Contractual Obligation, to be Paid, Year One | $69M2025-12-31 | $71M | -2.8% | $69M | $71M | -2.8% |
| Contractual Obligation, to be Paid, Year Three | $84M2025-12-31 | $85M | -1.2% | $84M | $85M | -1.2% |
| Contractual Obligation, to be Paid, Year Two | $81M2025-12-31 | $82M | -1.2% | $81M | $82M | -1.2% |
| Costs and Expenses | $21.8B | $20B | +8.8% | $79.7B | $74.1B | +7.6% |
| Current Federal Tax Expense (Benefit) | – | – | – | $59M | $443M | -86.7% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $717M | $606M | +18.3% |
| Current Income Tax Expense (Benefit) | – | – | – | $875M | $1.23B | -28.7% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $99M | $179M | -44.7% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $84M | $75M | +12.0% | $77M | $68M | +13.2% |
| Debt, Weighted Average Interest Rate | 4.5%2025-12-31 | 4.5% | 0.0% | 4.5% | 4.5% | 0.0% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $706M | -$13M | +5,530.8% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $12M | -$105M | +111.4% |
| Deferred Income Tax Expense (Benefit) | $90M | $477M | -81.1% | $789M | -$47M | +1,778.7% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $71M | $71M | 0.0% |
| Deferred Tax Assets, Net of Valuation Allowance | $4.76B2025-12-31 | $5.26B | -9.4% | $4.76B | $5.26B | -9.4% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-01