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RTX Corporation, an aerospace and defense company, provides systems and services for commercial, military, and government customers worldwide. It operates through three segments: Collins Aerospace (Collins), Pratt & Whitney, and Raytheon. The Collins segment offers aerospace and defense products, and aftermarket services for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations. This segment designs, manufactures, and supplies electric power generation and management and distribution, environmental control, flight control, air data and aircraft sensing, engine control, and engine nacelle systems, as well as engine components; cabin interiors, including seating, oxygen, food and beverage preparation, storage and galley, lavatory, and wastewater management systems; connected aviation solutions and services; and systems solutions for connected battlespace, test and training range systems, crew escape systems, and simulation and training. It also provides spare parts, overhaul and repair, engineering and technical support, training and fleet management solutions, and asset and information management services. The Pratt & Whitney segment supplies aircraft engines for commercial, military, business jet, and general aviation customers; and produces, sells, and services military and commercial auxiliary power units, as well as offers fleet management and aftermarket maintenance, repair, and overhaul services. The Raytheon segment provides defensive and offensive threat detection, tracking, and mitigation capabilities for government and commercial customers. This segment offers sensors, mission orchestration and satellite control products, and software. The company was formerly known as Raytheon Technologies Corporation and changed its name to RTX Corporation in July 2023. RTX Corporation was incorporated in 1934 and is headquartered in Arlington, Virginia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $88.6B | $14.9B | $6.7B | $7.4B | 10.3% | 9.7% | 41.0% |
| 2024 | $80.7B | $12.5B | $4.8B | $3.9B | 7.9% | 17.1% | 49.4% |
| 2023 | $68.9B | $9.7B | $3.2B | $4.7B | 5.3% | 2.8% | -38.5% |
| 2022 | $67.1B | $11.5B | $5.2B | $4.4B | 7.2% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 67,074 | 68,920 | 80,738 | 88,603 |
| Operating Revenue | - | 67,074 | 68,920 | 80,738 | 88,603 |
| Cost Of Revenue | - | 53,406 | 56,831 | 65,328 | 70,814 |
| Gross Profit | - | 13,668 | 12,089 | 15,410 | 17,789 |
| Operating Expense | - | 8,164 | 8,528 | 8,872 | 8,489 |
| Research And Development | - | 2,711 | 2,805 | 2,934 | 2,807 |
| Selling General And Administration | - | 5,573 | 5,809 | 5,806 | 6,095 |
| Total Expenses | - | 61,570 | 65,359 | 74,200 | 79,303 |
| Operating Income | - | 5,504 | 3,561 | 6,538 | 9,300 |
| Total Operating Income As Reported | - | 5,504 | 3,561 | 6,538 | 9,300 |
| EBITDA | - | 11,525 | 9,700 | 12,528 | 14,946 |
| Normalized EBITDA | - | 11,525 | 9,700 | 12,528 | 14,946 |
| EBIT | - | 7,417 | 5,489 | 8,164 | 10,568 |
| Interest Income | - | 70 | 100 | 102 | 98 |
| Interest Expense | - | 1,300 | 1,653 | 1,970 | 1,835 |
| Net Interest Income | - | -1,230 | -1,553 | -1,868 | -1,737 |
| Other Non Operating Income Expenses | - | 1,843 | 1,828 | 1,524 | 1,170 |
| Other Income Expense | - | 1,843 | 1,828 | 1,524 | 1,170 |
| Interest Income Non Operating | - | 70 | 100 | 102 | 98 |
| Interest Expense Non Operating | - | 1,300 | 1,653 | 1,970 | 1,835 |
| Net Non Operating Interest Income Expense | - | -1,230 | -1,553 | -1,868 | -1,737 |
| Pretax Income | - | 6,117 | 3,836 | 6,194 | 8,733 |
| Tax Provision | - | 790 | 456 | 1,181 | 1,664 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 5,327 | 3,380 | 5,013 | 7,069 |
| Net Income From Continuing And Discontinued Operation | - | 5,197 | 3,195 | 4,774 | 6,732 |
| Net Income From Continuing Operation Net Minority Interest | - | 5,216 | 3,195 | 4,774 | 6,732 |
| Net Income | - | 5,197 | 3,195 | 4,774 | 6,732 |
| Net Income Common Stockholders | - | 5,197 | 3,195 | 4,774 | 6,732 |
| Net Income Including Noncontrolling Interests | - | 5,308 | 3,380 | 5,013 | 7,069 |
| Normalized Income | - | 5,216 | 3,195 | 4,774 | 6,732 |
| Diluted NI Availto Com Stockholders | - | 5,197 | 3,195 | 4,774 | 6,732 |
| Basic Average Shares | - | 1,475.50 | 1,426 | 1,332.10 | 1,341.40 |
| Diluted Average Shares | - | 1,485.90 | 1,435.40 | 1,343.60 | 1,356.40 |
| Reconciled Depreciation | - | 4,108 | 4,211 | 4,364 | 4,378 |
| Reconciled Cost Of Revenue | - | 53,406 | 56,831 | 65,328 | 70,814 |
| Total Unusual Items | -649 | 0 | 0 | - | - |
| Total Unusual Items Excluding Goodwill | -649 | 0 | 0 | - | - |
| Minority Interests | - | -111 | -185 | -239 | -337 |
| Net Income Discontinuous Operations | -33 | -19 | 0 | 0 | - |
| Special Income Charges | -649 | 0 | 0 | - | - |
| Other Special Charges | 649 | - | - | - | - |
| Impairment Of Capital Assets | 0 | 0 | - | - | - |
| General And Administrative Expense | 3,102 | 3,684 | 4,029 | - | - |
| Other Gand A | 5,046 | 5,573 | 5,809 | - | - |
| Salaries And Wages | -1,944 | -1,889 | -1,780 | - | - |
| Other Operating Expenses | - | -120 | -86 | 132 | -413 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| RTX Corporationthis co. | RTX | $241.6B | 35.89 | 3.70 | 10.3% | 18.31 |
| GE Aerospace | GE | $342.3B | 39.33 | 18.33 | 46.6% | 29.05 |
| GE Vernova Inc. | GEV | $258.9B | 53.00 | 23.16 | 43.7% | 112.04 |
| The Boeing Company | BA | $171.4B | 90.73 | 31.43 | 34.6% | 26.69 |
| Eaton Corporation plc | ETN | $162.5B | 39.77 | 8.37 |
| - |
| - |
| - |
| - |
| 21.0% |
| 27.91 |
| Deere & Company | DE | $159.7B | 31.78 | 6.16 | 19.4% | 18.51 |
| Union Pacific Corporation | UNP | $156.7B | 21.95 | 8.48 | 38.7% | 14.55 |
| Honeywell International Inc. | HON | $137.9B | 29.16 | 9.92 | 34.0% | 19.61 |
| Vertiv Holdings Co | VRT | $124.4B | 93.35 | 31.57 | 33.8% | 58.93 |
| Peer Median | - | 39.55 | 14.12 | 34.3% | 27.30 | |