RTX Corp
$198.58
+0.22 (+0.11%) · delayed · Nov 13, 2026
Five-year price
52w $166.74 to $226.88
- Market cap
- $268.0B
- Enterprise value
- $295.0B
- P/E
- 40.0×
- 55.5× on 3y avg EPS
- EV / EBIT
- 31.7×
- FCF yield
- 3.0%
- ROIC
- 8.2%
- Debt / equity
- 0.53
- Piotroski F
- 7/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
67
- ○ROIC > 12% (5y avg)5y avg ROIC 5.2%
- ○ROE > 15% (5y avg)5y avg ROE 7.2%
- ●Stable operating marginsMargin volatility 1.7% (σ, 5y)
- ●Earnings convert to cashFCF / net income 122% (5y avg)
- ●Growing revenueRevenue CAGR 5y 9.4%
- ●Shrinking share countDiluted shares -0.1% over 5y
Value
0
- ○P/E below 15P/E 40.0
- ○EV/EBIT below 12EV/EBIT 31.7
- ○FCF yield above 6%FCF yield 3.0%
- ○Price below Graham NumberGraham Number $73.46
- ○P/B below 3P/B 4.1
Safety
20
- ○Debt / equity below 0.5D/E 0.53
- ○Debt payable in < 4 yrs of earningsNet debt $27.1B
- ○Interest coverage > 8xCoverage 5.0x
- ○Current ratio > 1.5Current ratio 1.03
- ●Piotroski F-score ≥ 6F-score 7/9
Graham Defensive
29
- ●Adequate size (revenue > $2B)Revenue $88.6B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.03
- ○Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ○Earnings growth ≥ 33% (10y, 3y avgs)EPS growth -41%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 55.5
- ○P/E × P/B ≤ 22.5Product 227.8
Valuation lab
What do you have to believe?
At $198.58, the market is pricing in about 13.8% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $27.1B · 1349M shares · 5y revenue CAGR 9.4%
Intrinsic value
$131.57
Price
$198.58
Premium paid
51%
What the price implies
The market is paying for 13.8% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
61% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 57,244 | 59,837 | 34,701 | 45,349 | 56,587 | 64,388 | 67,074 | 68,920 | 80,738 | 88,603 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | 8,221 | 8,138 | 2,877 | 4,914 | (1,889) | 5,136 | 5,504 | 3,561 | 6,538 | 9,300 |
| Operating margin | 14.4% | 13.6% | 8.3% | 10.8% | -3.3% | 8.0% | 8.2% | 5.2% | 8.1% | 10.5% |
| Pre-tax income | 7,133 | 7,763 | 2,504 | 4,152 | (2,353) | 5,109 | 6,117 | 3,836 | 6,194 | 8,733 |
| Income tax | 1,697 | 2,843 | 1,098 | 421 | 575 | 964 | 790 | 456 | 1,181 | 1,664 |
| Net income | 5,055 | 4,552 | 5,269 | 5,537 | (3,519) | 3,864 | 5,197 | 3,195 | 4,774 | 6,732 |
| EPS (diluted) | 6.12 | 5.70 | 6.50 | 6.41 | -2.59 | 2.56 | 3.50 | 2.23 | 3.55 | 4.96 |
| Diluted shares | 826 | 799 | 810 | 864 | 1,358 | 1,509 | 1,486 | 1,435 | 1,344 | 1,356 |
Who owns it