RTX Corp (RTX)
Industrials · Aerospace & Defense · US stock · S&P 500 component
$194.71
▲ +3.11 (1.62%)
Fair valueFair
$176 −9.4% to fair value
$88fair band $150–$214$265
Day's range
$190.97 – $196.15
52-week range
$166.74 – $226.88
About RTX Corp
RTX is an aerospace and defence company that makes aircraft engines, aircraft systems and defence equipment. Its Collins Aerospace unit supplies avionics, power and interior systems, Pratt & Whitney builds jet engines for commercial and military aircraft, and Raytheon develops missiles, radars and air defence systems. Customers include airlines, aircraft makers and government defence departments.
Revenue comes from new equipment contracts and from long-running aftermarket parts and service work on engines and systems already in use. Sales were $93.5 billion over the last twelve months, with growth of 9.7% a year across the last three years. The operating margin is 11.2%, and the business earns a profit of 9% on the capital invested in it. Net debt is 1.9 times EBITDA. It pays a dividend with a yield of 1.4%. On the site's X-Ray Score it receives 51 out of 100.
Price chart
52-wk range $166.74 – $226.88Volume 5,623,175Daily, split-adjusted
Vitals
Market cap$265.8B
52-week range$166.74 – $226.88
Volume (last day)5,623,175
P/E (TTM)34.2
EBIT / EV yield3.5%
Free-cash-flow yield4.3%
Dividend yield1.4%
Revenue (TTM)$93.5B
Net income (TTM)$7.7B
Operating margin11.2%
Return on capital9.0%
Debt incl. leases$37.4B
Cash & securities$9.0B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$176middle half of models $155 – $211
Fair
−9.4% to fair value
Average of the 15 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Peak-cycle earnings: the current operating margin is more than 1.5x its 7-year average, so multiples applied to today's profit may overstate value; model uncertainty is set to High
Price $195
Undervalued < $150Fair $150 – $214Overvalued > $214
P/E multiple
$194
P/B multiple
$172
P/S multiple
$159
EV/EBITDA multiple
$185
EV/EBIT multiple
$195
EV/revenue multiple
$169
10-year DCF, EBITDA exit
$213
5-year DCF, EBITDA exit
$217
10-year DCF, revenue exit
$210
5-year DCF, revenue exit
$212
10-year DCF, growth exit
$118
5-year DCF, growth exit
$106
Dividend discount, stable
$151
Dividend discount, multi-stage
$246
Earnings power value
$98
Growth the price implies
20.8%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
44/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.5%
Free-cash-flow yield4.3%
Fair value vs price0.9×
Growth
Strong
72/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)9.7%
EPS growth (3y)12.3%
Growth consistency100%
Profitability
Weak
38/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital9.0%
Operating margin11.2%
Financial health
Fair
57/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score8 / 9
Net debt / EBITDA1.9×
Interest coverNo interest cost
Dividends
Fair
52/100
Dividend is typical for its sector.
See the numbers →
Dividend yield1.4%
Dividends vs free cash flow34%
Dividend growth4.5%
Quarterly results: last 6 quarters
+5.2%
Mar '25
+9.4%
Jun '25
+11.9%
Sep '25
+12.1%
Dec '25
+8.7%
Mar '26
+14.5%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $24.7B, diluted EPS $1.57.
Compare with peers
GD General Dynamics Corp70 TXT Textron Inc65 LHX L3harris Technologies,...60 TDG TransDigm Group INC57Other Aerospace & Defense companies by X-Ray Score.
SWOT analysis: RTX Corp
Strengthsinside the company
- Earnings per share have compounded at 12.3% a year over three years.
- Operating profit covers interest 50x, so debt costs are a small drag.
- Passes 8 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Dividends use only 34% of free cash flow, which leaves room to raise them.
Threatsvaluation and setting
- Trades at 34.3x earnings, 35% above the 25.4x median of industry peers, so the price already assumes better results.
- Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare RTX with peers and sector
Medians of 11 Aerospace & Defense peers and of 80 Industrials stocks in our universe.
Largest peers (X-Ray Score): GE 49, BA 35, LMT 55, GD 70, NOC 49, HWM 55.
| Metric | RTX | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 51 | 55 | 50 |
| Valuation | 44 | 61 | 48 |
| Growth | 72 | 58 | 50 |
| Profitability | 38 | 45 | 51 |
| Financial health | 57 | 55 | 49 |
| Dividends | 52 | 54 | 53 |
Sector leaders: highest X-Ray Score in Industrials
RTX ranks #40 of 81 in Industrials and #7 of 12 in Aerospace & Defense by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for RTX
Each factor is rated by where RTX stands among the 81 Industrials stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 6 Good · 9 Average · 6 Bad of 21
Growth: 2 · 1 · 0
Profitability: 0 · 0 · 4
Financial strength: 2 · 1 · 1
Valuation: 1 · 3 · 1
Cash flow: 1 · 3 · 0
Efficiency: 0 · 1 · 0
| Factor | RTX | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +9.7% | Good beats 77% | +5.6% | – | – |
| Revenue growth, last year | +9.7% | Good beats 81% | +4.5% | +9.7% | ≈ In line |
| EPS growth, 3 years a year | +12.3% | Average beats 66% | +5.7% | – | – |
| Profitability | |||||
| Operating margin | 11.2% | Bad beats 33% | 17.5% | 8.1% | ▲ Better |
| Net margin | 8.3% | Bad beats 33% | 12.8% | 6.0% | ▲ Better |
| Return on invested capital | 9.0% | Bad beats 19% | 14.9% | – | – |
| Return on equity | 11.7% | Bad beats 19% | 23.7% | 7.2% | ▲ Better |
| Financial strength | |||||
| Net debt / EBITDA | 1.9x | Average beats 43% | 1.8x | 2.6x | ▲ Better |
| Interest cover | 50.0x | Good beats 76% | 21.4x | 3.7x | ▲ Better |
| Current ratio | 1.01 | Bad beats 22% | 1.25 | 1.04 | ≈ In line |
| Piotroski F-score | 8 / 9 | Good beats 86% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 34.3x | Bad beats 27% | 28.9x | 33.6x | ≈ In line |
| Price / book | 4.0x | Good beats 71% | 6.2x | 2.1x | ▼ Worse |
| Price / sales | 2.8x | Average beats 57% | 3.5x | 2.0x | ▼ Worse |
| EV / EBITDA | 19.9x | Average beats 44% | 18.5x | 18.2x | ≈ In line |
| Free cash flow yield | 4.3% | Average beats 60% | 3.8% | 3.2% | ▲ Better |
| Cash flow | |||||
| Free cash flow margin | 12.2% | Average beats 38% | 13.8% | 7.6% | ▲ Better |
| Cash from operations / net income | 1.84 | Good beats 78% | 1.39 | 1.53 | ▲ Better |
| Free cash flow growth, 3 years a year | +17.6% | Average beats 54% | +14.5% | – | – |
| Accruals (lower is better) | −3.7% | Average beats 58% | −3.2% | – | – |
| Efficiency | |||||
| Days sales outstanding | 54 days | Average beats 57% | 57 days | 55 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 4 Good · ● 6 Average · ● 5 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldAverage
Risk models
Altman Z''Bad
Piotroski F-ScoreGood
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Average
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioBad
Net debt / EBITDAAverage
Interest coverGood
Valuation
Fair value vs priceAverage
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Operating marginBad
Each check is graded against the company's sector, not a fixed number. Checklist score 48/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $64.4B | $67.1B | $68.9B | $80.7B | $88.6B |
| Operating income | $5.1B | $5.5B | $3.6B | $6.5B | $9.3B |
| Net income | $3.9B | $5.2B | $3.2B | $4.8B | $6.7B |
| Operating cash flow | – | $7.2B | $7.9B | $7.2B | $10.6B |
| Operating margin | 8.0% | 8.2% | 5.2% | 8.1% | 10.5% |
| Free cash flow | – | $4.9B | $5.5B | $4.5B | $7.9B |
| Diluted EPS | $2.56 | $3.50 | $2.23 | $3.55 | $4.96 |
Fiscal years, from SEC filings.
Technical summary
Daily
Neutral
8 bullish · 1 neutral · 7 bearish
Weekly
Neutral
6 bullish · 1 neutral · 5 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 189.5 | Bullish |
| EMA 10 | 190.5 | Bullish |
| SMA 20 | 187.3 | Bullish |
| EMA 20 | 190.1 | Bullish |
| SMA 50 | 197.7 | Bearish |
| EMA 50 | 194.0 | Bullish |
| SMA 100 | 197.3 | Bearish |
| EMA 100 | 194.8 | Bearish |
| SMA 200 | 194.2 | Bullish |
| EMA 200 | 189.6 | Bullish |
Oscillators (daily)
| RSI (14) | 56.59 | Neutral |
| MACD (12, 26) | -0.81 | Bearish |
| Momentum (12) | 6.23 | Bullish |
| Stochastic %K (14) | 87.26 | Bearish |
| Williams %R (14) | -12.74 | Bearish |
| CCI (20) | 147.9 | Bearish |
Pivot points (classic, last session)
S3 186.6 | S2 188.8 | S1 191.7 | Pivot 193.9 | R1 196.9 | R2 199.1 | R3 202.1 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
2.82 USD
Yield on today's price
1.45%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.7300 | |
| 0.7300 | |
| 0.6800 | |
| 0.6800 | |
| 0.6800 | |
| 0.6800 | |
| 0.6300 | |
| 0.6300 | |
| 0.6300 | |
| 0.6300 | |
| 0.5900 | |
| 0.5900 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold RTX
| ETF | Share of the fund |
|---|---|
| ITA iShares U.S. Aerospace & Defense | 14.82% |
| DFEN Daily Aerospace & Defense Bull 3X | 11.13% |
| PPA Invesco Aerospace & Defense | 8.30% |
| SHLD Global X Defense Tech | 7.76% |
| XLI Industrial Select Sector SPDR | 4.43% |
| FIDU Fidelity MSCI Industrials Index | 4.12% |
| IYJ iShares U.S. Industrials | 3.47% |
| VIS Vanguard Industrials | 3.41% |
The eight funds with the largest weight in RTX among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
RTX stock splits
RTX has split its stock 3 times since 1996. The latest was a 2-for-1 split on 13 Jun 2005.
Full RTX stock split history →RTX SEC filings
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Shareholder vote results
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.