The Boeing Company (BA)
Boeing is one of two dominant commercial-aircraft makers and a major US defense and space contractor. Its commercial recovery has hinged on stabilizing production and quality across its jet programs.
BA vs RTX: how the two businesses compare
- Similar size: BA and RTX each brought in about $89.5B of yearly revenue.
- More profitable: RTX keeps 8 cents of each sales dollar as profit, against 2 cents at BA.
- More cash from each sale: RTX turns 12 cents of each sales dollar into operating cash flow, against 1 cents at BA.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Boeing (BA) and RTX reported similar revenue: $89.5B (fiscal year ended Dec 2025) versus $88.6B (fiscal year ended Dec 2025). BA's net margin was 2.5% and RTX's 7.6%. The SEC places them in related industries (Aircraft; Aircraft Engines & Engine Parts), and both map to the Wars & geopolitics research theme.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Industrials
- Different
- Separate classifications
- December 31
- Same calendar
- Feb 6, 2026
BA vs RTX: quick comparison
| Company fact | BA | RTX |
|---|---|---|
| Company | The Boeing Company | RTX Corporation |
| Exchange | NYSE | NYSE |
| Headquarters | Arlington, Virginia | Arlington, Virginia |
| Founded | 1916 | 2020 |
| SEC industry | Aircraft | Aircraft Engines & Engine Parts |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-01-30 | 10-K · 2026-02-06 |
BA vs RTX: audited financials
- Scale: revenue is roughly in line ($89.5B for BA versus $88.6B for RTX).
- Net margin: RTX kept 7.6% of revenue as net income versus 2.5% at BA.
- Cash conversion: operating cash flow equalled BA 1.2% of revenue, or 0.48× net income; RTX 11.9% of revenue, or 1.57× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: both fiscal years end on 2025-12-31, so these annual figures cover the same months.
| Metric | BA | RTX |
|---|---|---|
| Revenue | $89.5B2025-01-01 to 2025-12-31 · SEC filing | $88.6B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | $2.2B2025-01-01 to 2025-12-31 · SEC filing | $6.7B2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | $1.1B2025-01-01 to 2025-12-31 · SEC filing | $10.6B2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $2.482025-01-01 to 2025-12-31 · SEC filing | $4.962025-01-01 to 2025-12-31 · SEC filing |
| Net margin | 2.5%2025-01-01 to 2025-12-31 · SEC filing | 7.6%2025-01-01 to 2025-12-31 · SEC filing |
BA: FY ending 2025-12-31 · RTX: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where BA and RTX overlap, and where they don't
Overlap
- Related SEC industries: both sit in SIC major group 37.
- Shared research theme: Wars & geopolitics.
- Same fiscal calendar: both fiscal years end December 31.
Differences
- Different four-digit SIC codes: BA is 3721 (Aircraft); RTX is 3724 (Aircraft Engines & Engine Parts).
- Only BA maps to Tariffs & trade.
- Profitability: net margin of 2.5% for BA versus 7.6% for RTX.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
RTX Corporation (RTX)
RTX is an aerospace and defense company that reports three segments: Collins Aerospace systems, Pratt & Whitney aircraft engines, and Raytheon missiles and radars. It was formed in 2020 from the merger of Raytheon and United Technologies.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves BA
We have not yet published a company-specific driver list for BA. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-01-30.
What moves RTX
- U.S. and allied defense budgets and air- and missile-defense procurement at Raytheon
- Commercial aircraft deliveries and aftermarket flight hours at Collins Aerospace and Pratt & Whitney
- Pratt & Whitney geared turbofan (GTF) fleet support after the 2023 powder metal matter
- Conversion of a $268 billion year-end 2025 backlog into sales and cash
The investment question
You now know how BA and RTX are classified, when their fiscal years end, and where their exposures overlap. Those are the facts. The investment question is what each share price already assumes about their exposure to wars & geopolitics, including “U.S. and allied defense budgets and air- and missile-defense procurement at Raytheon” at RTX, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end December 31, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 32 matched transaction rows for BA and 18 matched transaction rows for RTX. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
BA primary filings
RTX primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving BA or RTX
BA vs RTX FAQs
Are BA and RTX direct competitors?
Not necessarily. Boeing files as Aircraft and RTX as Aircraft Engines & Engine Parts. The pair is compared because both map to the Wars & geopolitics research theme, not because the filings show head-to-head competition.
Is BA or RTX the bigger company by revenue?
Boeing (BA) and RTX reported similar revenue: $89.5B (fiscal year ended Dec 2025) versus $88.6B (fiscal year ended Dec 2025). BA's net margin was 2.5% and RTX's 7.6%. The SEC places them in related industries (Aircraft; Aircraft Engines & Engine Parts), and both map to the Wars & geopolitics research theme. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, BA or RTX?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this BA vs RTX comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers The Boeing Company and RTX Corporation tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-10-03. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-10-03. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
BA vs RTX compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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