Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

RTX Corporation

RTX stock analysis · Industrials · Aerospace & Defense

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$189.73HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$255.7B

Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$89.48

Equity cash-flow scenario · SEC outstanding shares at 2026-06-30 · -52.8% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

24.1%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-11.3%

11 industry peers · median 33.7×

How this is calculated ↗
Valuation

Historical multiples

38.2×

6 annual observations · snapshot P/E 38.0× · -0.5% versus history

How this is calculated ↗
Valuation

Free cash flow yield

3.1%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

7.5%

Normalized tax · financing-capital proxy

How this is calculated ↗
Valuation

Value composite

47/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

5.0%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-2.1%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

5.1%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 10.6B2020-12-31: cfo $4,334,000,000.002020-12-31: capex $1,795,000,000.0020202021-12-31: cfo $7,142,000,000.002021-12-31: capex $2,134,000,000.0020212022-12-31: cfo $7,168,000,000.002022-12-31: capex $2,288,000,000.0020222023-12-31: cfo $7,883,000,000.002023-12-31: capex $2,415,000,000.0020232024-12-31: cfo $7,159,000,000.002024-12-31: capex $2,625,000,000.0020242025-12-31: cfo $10,567,000,000.002025-12-31: capex $2,627,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$112.23$122.46$133.45
10.0%$82.24$89.48$97.25
12.0%$64.88$70.41$76.33

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3188.6B7.1B10.6B2.6B171.1B
2024-12-3180.7B5B7.2B2.6B162.9B
2023-12-3168.9B3.4B7.9B2.4B161.9B
2022-12-3167.1B5.3B7.2B2.3B158.9B
2021-12-3164.4B4.1B7.1B2.1B161.4B
2020-12-3156.6B-3.3B4.3B1.8B162.2B
2019-12-3145.3B5.9B5.8B1.9B139.6B
2018-12-3134.7B5.7B2.7B1.5B134.2B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue88.6BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-06
netIncome7.1BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-06
Parent/common earnings proxy6.7BNetIncomeLoss2026-02-06
cfo10.6BNetCashProvidedByUsedInOperatingActivities2026-02-06
capex2.6BPaymentsToAcquirePropertyPlantAndEquipment2026-02-06
operatingIncome9.3BOperatingIncomeLoss2026-02-06
assets171.1BAssets2026-02-06
equity67.1BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-06
Parent book equity proxy65.2BStockholdersEquity2026-02-06
debt37.7BLongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities2026-02-06
shortDebt204MShortTermBorrowings2026-02-06
cash7.4BCashAndCashEquivalentsAtCarryingValue2026-02-06
shares1.4BWeightedAverageNumberOfDilutedSharesOutstanding2026-02-06
dividends3.6BPaymentsOfDividendsCommonStock2026-02-06
buybacks50MPaymentsForRepurchaseOfCommonStock2026-02-06
issuanceNot reported under a supported tag