RTX (RTX Corporation) Stock Financials & Earnings

Company Info & Key Metrics

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through th...

CEOChristopher T. Calio

Country🇺🇸 United States

ExchangeNYSE

IPOSep 15, 1952

www.rtx.com

Revenue$24.2B

YoY Growth+12.1%

QoQ Growth+7.8%

Net Income$1.6B

EPS$1.19

Free Cash Flow$3.2B

Gross Margin19.5%

Op. Margin9.4%

Net Margin6.7%

FCF Margin13.2%

Rev Multiple (TTM)3.1x

P/E Ratio (TTM)41.4x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$17.2B	$3.6B	$1.6B
Q2 23	$18.3B	$3.8B	$1.4B
Q3 23	$13.5B	$714M	-$1.4B
Q4 23	$19.9B	$4.0B	$1.8B
Q1 24	$19.3B	$3.6B	$1.5B
Q2 24	$19.7B	$3.6B	$1.4B
Q3 24	$20.1B	$4.0B	$1.9B
Q4 24	$21.6B	$4.2B	$1.9B
Q1 25	$20.3B	$4.1B	$2.0B
Q2 25	$21.6B	$4.4B	$2.1B
Q3 25	$22.5B	$4.6B	$2.5B
Q4 25	$24.2B	$4.7B	$2.3B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	4.1x	50.3x
Q2 23	3.9x	50.1x
Q3 23	4.2x	87.3x
Q4 23	4.0x	87.1x
Q1 24	3.9x	80.1x
Q2 24	3.8x	123.1x
Q3 24	3.5x	59.0x
Q4 24	3.4x	58.3x
Q1 25	3.4x	60.5x
Q2 25	3.3x	45.3x
Q3 25	3.2x	42.2x
Q4 25	3.1x	41.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$863M	-$1.5B
Q2 23	$719M	$33M
Q3 23	$3.3B	$2.5B
Q4 23	$4.7B	$3.9B
Q1 24	$342M	-$288M
Q2 24	$2.7B	$2.0B
Q3 24	$2.5B	$1.8B
Q4 24	$1.6B	$492M
Q1 25	$1.3B	$792M
Q2 25	$458M	-$72M
Q3 25	$4.6B	$4.0B
Q4 25	$4.2B	$3.2B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$674M
Q2 23	$686M
Q3 23	$786M
Q4 23	$805M
Q1 24	$630M
Q2 24	$692M
Q3 24	$681M
Q4 24	$1.1B
Q1 25	$513M
Q2 25	$530M
Q3 25	$614M
Q4 25	$970M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+9.5%	+6.7%
Q2 23	+12.3%	+12.7%
Q3 23	-20.6%	-4.2%
Q4 23	+10.1%	+9.0%
Q1 24	+12.1%	+14.0%
Q2 24	+7.7%	+8.4%
Q3 24	+49.2%	+22.4%
Q4 24	+8.5%	+9.1%
Q1 25	+5.2%	+2.6%
Q2 25	+9.4%	+6.4%
Q3 25	+11.9%	+10.0%
Q4 25	+12.1%	+11.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$100M	0.6%
Q2 23	$112M	0.6%
Q3 23	$107M	0.8%
Q4 23	$106M	0.5%
Q1 24	$194M	1.0%
Q2 24	$29M	0.1%
Q3 24	$105M	0.5%
Q4 24	$109M	0.5%
Q1 25	$111M	0.5%
Q2 25	$113M	0.5%
Q3 25	$113M	0.5%
Q4 25	$182M	0.8%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 23	$607M	$1.4B
Q2 23	$729M	$1.6B
Q3 23	$712M	$1.4B
Q4 23	$757M	$1.4B
Q1 24	$669M	$1.4B
Q2 24	$706M	$1.4B
Q3 24	$751M	$1.4B
Q4 24	$808M	$1.6B
Q1 25	$637M	$1.4B
Q2 25	$697M	$1.6B
Q3 25	$684M	$1.4B
Q4 25	$789M	$1.6B

Revenue Segments

Quarter	Collins Aerospace Systems	Pratt and Whitney	Raytheon Intelligence & Space
Q1 23	$5.6B	$5.2B	$7.2B
Q2 23	$5.8B	$5.7B	$7.7B
Q3 23	$6.6B	$926M	$6.5B
Q4 23	$8.2B	$6.4B	$5.0B
Q1 24	$6.7B	$6.5B	$6.7B
Q2 24	$7.0B	$6.8B	$6.5B
Q3 24	$7.1B	$7.2B	$6.4B
Q4 24	$7.5B	$7.6B	$7.2B
Q1 25	$7.2B	$7.4B	$6.3B
Q3 25	$7.6B	$8.4B	$7.0B

Revenue by Geography

Quarter	Asia Pacific	Europe	Middle East And North Africa	Other	United States
Q1 23	$2.0B	$3.0B	$763M	$863M	$10.5B
Q2 23	$2.1B	$3.3B	$851M	$842M	$11.2B
Q1 24	$2.4B	$3.8B	$849M	$835M	$11.4B
Q2 24	$2.7B	$3.6B	$791M	$1.1B	$11.6B
Q3 24	$2.8B	$4.1B	$628M	$141M	$11.4B
Q4 24	$3.0B	$4.4B	$1.2B	$2.3B	$11.7B
Q1 25	$2.6B	$4.4B	—	$1.2B	$11.3B
Q3 25	$3.6B	$5.2B	—	$1.2B	$11.7B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$5.9B	$0	$5.9B
Q2 23	$5.4B	$0	$5.4B
Q3 23	$5.5B	$0	$5.5B
Q4 23	$6.6B	$0	$6.6B
Q1 24	$5.6B	$0	$5.6B
Q2 24	$6.0B	$0	$6.0B
Q3 24	$6.7B	$0	$6.7B
Q4 24	$5.6B	$0	$5.6B
Q1 25	$5.2B	$0	$5.2B
Q2 25	$4.8B	$0	$4.8B
Q3 25	$6.0B	$0	$6.0B
Q4 25	$7.4B	$0	$7.4B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	1.47B	-0.1%
Q2 23	1.47B	-0.4%
Q3 23	1.45B	-1.4%
Q4 23	1.36B	-6.0%
Q1 24	1.34B	-1.8%
Q2 24	1.34B	+0.4%
Q3 24	1.35B	+0.3%
Q4 24	1.35B	+0.2%
Q1 25	1.35B	+0.2%
Q2 25	1.35B	+0.2%
Q3 25	1.36B	+0.3%
Q4 25	1.36B	+0.2%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$275K	211K
FY 15	$286K	197K
FY 16	$284K	202K
FY 17	$292K	205K
FY 18	$277K	240K
FY 19	$187K	243K
FY 20	$313K	181K
FY 21	$370K	174K
FY 22	$369K	182K
FY 23	$373K	185K
FY 24	$434K	186K
FY 25	$492K	180K