Historical source-based research. Compilation date and financial period are different dates.

Research summary

A two-period review of RTX revenue, profitability and cash conversion; reported revenue growth was 9.74%.

Period comparison

FY2025 ended 2025-12-31; the prior observation ended 2024-12-31. Revenue moved from USD 80.738 billion to USD 88.603 billion. These are annual periods, not quarterly earnings or trailing-twelve-month estimates.

Earnings bridge

Net income moved from USD 4.774 billion to USD 6.732 billion. Operating income moved from USD 6.538 billion to USD 9.300 billion. Net margin moved from 5.91% to 7.60%. A margin change identifies an outcome; its causes require management discussion and footnotes.

Cash-flow cross-check

Operating cash flow was USD 7.159 billion in the earlier period and USD 10.567 billion in the later period. Selected free cash flow was USD 4.534 billion and USD 7.940 billion, respectively. Working-capital timing can cause earnings and cash to diverge.

Interpretation and limits

A rise in reported revenue does not by itself identify organic growth. A difference in EPS can reflect share-count changes as well as operating performance. No causal claim is made from these aggregate figures.

Valuation context

Company profiles show eligible dated valuation ratios using the September 17, 2026 price snapshot and selected annual accounting denominators. Capitalization-based measures use estimates and are identified as such. These are not live, TTM or forward values. A historical-multiple series and EV/EBITDA are not available. Sector medians describe a selected sample; they do not establish fair value or expected returns.

What to monitor

Backlog conversion, utilization, deliveries, working capital and service revenue.

Risks and uncertainties

Order cancellations, supply constraints, execution risk, labor costs and capital-cycle sensitivity.

Sources & dates

Methodology protocol ↗SMS research updates ↗