Collins Aerospace
Aerospace and defense products: aircraft systems, cabin interiors, connected aviation solutions and aftermarket services.
Stock research
RTX Corporation (RTX) Stock Research
RTX is an aerospace and defense company that reports three segments: Collins Aerospace systems, Pratt & Whitney aircraft engines, and Raytheon missiles and radars.
For the fiscal year ended December 31, 2025, RTX Corporation reported revenue of $88.6B and net income of $6.7B, with operating cash flow of $10.6B. Source: Form 10-K filed February 6, 2026
Reviewed · SEC data as of
- Revenue
- $88.6B
- FY ending 2025-12-31
- Net income
- $6.7B
- FY ending 2025-12-31
- Diluted EPS
- $4.96
- Net margin
- 7.6%
Reported SEC XBRL figures. Each metric’s period and original filing are listed below.
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How RTX makes money
It was formed in 2020 from the merger of Raytheon and United Technologies.
Pratt & Whitney
Large and small engines for commercial and military aircraft, auxiliary power units, and engine maintenance and aftermarket services.
Raytheon
Defensive and offensive threat detection, tracking and mitigation systems, such as missiles and radars, for U.S. and foreign governments.
- Exchange
- NYSE: RTX
- Sector
- Industrials
- SEC industry
- Aircraft Engines & Engine Parts (SIC 3724)
- Fiscal year end
- December 31
- Headquarters
- Arlington, Virginia
- Founded
- 2020
RTX key financials
Reported figures from RTX Corporation's filings, pulled directly from SEC XBRL data rather than a third-party terminal. Each row links to the filing it came from.
| Metric | Value | Period | Source |
|---|---|---|---|
| Revenue | $88.6B | 2025-01-01 – 2025-12-31 | SEC filing |
| Net income | $6.7B | 2025-01-01 – 2025-12-31 | SEC filing |
| Operating cash flow | $10.6B | 2025-01-01 – 2025-12-31 | SEC filing |
| Diluted EPS | $4.96 | 2025-01-01 – 2025-12-31 | SEC filing |
| Net margin | 7.6% | 2025-01-01 – 2025-12-31 | SEC filing |
| Shares outstanding | 1.34B | As of 2025-12-31 | SEC filing |
Values are as tagged by the issuer in XBRL. Revenue for banks and insurers is net of interest expense where that is the reported line. Fiscal years that do not follow the calendar are shown by their period-end date. No price, market cap, or valuation multiple is shown because Yield Theory does not republish unlicensed market data.
Diluted EPS is the earnings figure behind the price-to-earnings ratio; the P/E multiple compression calculator shows how a change in that multiple moves a share price. Shares outstanding multiplied by the share price gives market capitalization.
What investors should watch in RTX
For RTX Corporation, the most important recurring operating and market variables are:
- ◆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
- ◆Supply-chain capacity and execution on fixed-price contracts
Key questions for the RTX thesis
Each question starts with what the filings show, then why it matters. None of these is a rating or a forecast.
How much of RTX depends on the U.S. government?
Sales to the U.S. government were $33.3 billion in 2025, or 38% of net sales, down from 40% in 2024 and 46% in 2023; the figures exclude foreign military sales through the U.S. government. As commercial aerospace and international customers grow, U.S. budget headlines explain less of RTX's revenue than they once did.
How much future revenue is already contracted?
Total backlog was $268 billion at December 31, 2025, up from $218 billion a year earlier, and RTX expects about 25% of it to become revenue over the next 12 months. Compare that with annual sales and check the split between defense and commercial backlog to judge visibility.
What does the GTF fleet issue still cost?
RTX's 2023 sales were reduced by the powder metal matter affecting Pratt & Whitney geared turbofan engines. Follow the filings for remaining customer compensation, shop-visit capacity and related cash outflows, which weigh on Pratt & Whitney margins and free cash flow even as aftermarket demand grows.
Why does segment mix matter for margins?
Collins and Pratt & Whitney earn from original equipment and aftermarket services, while Raytheon's results depend on government contract types and program execution. Read operating profit by segment rather than treating RTX as a single defense contractor.
Does RTX's reported profit turn into cash?
Operating cash flow was $10.6B, 1.57 times net income of $6.7B, for the fiscal year ended December 31, 2025.
Cash from operations exceeded reported earnings. Non-cash charges such as depreciation, amortization and stock-based compensation usually explain the gap; the cash-flow statement shows which.
How much of RTX's revenue is left as profit?
Net income was 7.6% of revenue for the fiscal year ended December 31, 2025, based on revenue and net income reported for the same period.
Net margin reflects the business model as much as execution, so compare it with companies in the same SEC industry and read the income statement for one-time items before treating it as a run rate.
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Read the full researchRTX primary sources
- Latest annual report: Form 10-K filed February 6, 2026
- Latest quarterly report: Form 10-Q filed July 23, 2026
- RTX investor relations
- RTX filings at the SEC
How we source and review company pages: research methodology.
Congressional trading in RTX
| Politician | Trade date | Type | Owner | Amount | Source |
|---|---|---|---|---|---|
| Alan Armstrong | 2026-03-27 | Purchase | Self | $15,001 - $50,000 | Filing #fda235b3-bad7-4637-8fa1-053f354d929c |
| Gilbert Cisneros | 2026-01-09 | Purchase | Self | $1,001 - $15,000 | Filing #20033983 |
| Roger Williams | 2025-12-22 | Purchase | Self | $1,001 - $15,000 | Filing #20033783 |
| Julie Johnson | 2025-12-18 | Sale | Joint | $1,001 - $15,000 | Filing #20033789 |
| Julie Johnson | 2025-11-13 | Sale | Joint | $1,001 - $15,000 | Filing #20033611 |
| Dan Newhouse | 2025-08-18 | Sale | Spouse | $1,001 - $15,000 | Filing #20032091 |
| Julie Johnson | 2025-08-14 | Sale | Joint | $1,001 - $15,000 | Filing #20032066 |
| John Boozman | 2025-05-30 | Purchase | Joint | $1,001 - $15,000 | Filing #4b5c15fa-74ca-4e12-a0c4-3dd9ef5124b7 |
| John Boozman | 2025-05-30 | Purchase | Joint | $1,001 - $15,000 | Filing #db2a4c73-e714-4ad0-9548-b1b83f1d0773 |
| Jefferson Shreve | 2025-05-12 | Sale | Self | $15,001 - $50,000 | Filing #20030387 |
All verified RTX congressional disclosures
Congressional disclosures are delayed, range-based records—not real-time signals or proof of motive. See the source-linked tracker for scope and limitations.
Compare RTX with similar companies
RTX peers
Honeywell International Inc. (HON)Aircraft Engines & Engine PartsLockheed Martin Corporation (LMT)Guided Missiles & Space Vehicles & PartsDeere & Company (DE)Farm Machinery & EquipmentNorfolk Southern Corporation (NSC)Railroads, Line-Haul OperatingSouthwest Airlines Co. (LUV)Air Transportation, ScheduledCaterpillar Inc. (CAT)Construction Machinery & Equip
RTX — frequently asked questions
What does RTX Corporation do?
RTX is an aerospace and defense company that reports three segments: Collins Aerospace systems, Pratt & Whitney aircraft engines, and Raytheon missiles and radars. Its filings describe these business lines: Collins Aerospace, Pratt & Whitney, Raytheon.
What were RTX's latest reported annual revenue and net income?
For the fiscal year ended December 31, 2025, RTX Corporation reported revenue of $88.6B and net income of $6.7B, with operating cash flow of $10.6B. The figures come from RTX Corporation's SEC XBRL filings.
When does RTX Corporation's fiscal year end?
The SEC lists RTX Corporation's fiscal year end as December 31.
Do members of Congress trade RTX?
The current verified House and Senate snapshot contains 18 transaction rows for RTX, each linked to the original filing.
Where is RTX Corporation headquartered?
RTX Corporation is headquartered in Arlington, Virginia and was founded in 2020.
Is RTX a good investment?
This page does not rate RTX as a buy or sell. It sets out what RTX Corporation reports, what investors should watch and the questions a thesis has to answer, with links to the SEC filings. It is research, not investment advice.
This page is independent research and educational information, not investment advice or a recommendation to buy or sell any security. Company facts are compiled from public sources. Do your own research.
What do the RTX numbers leave unanswered?
Financials describe the business. The next question is which assumptions an investment thesis depends on. Explore the member reports below for analysis of catalysts, risks, and what would change the view. $39/month or $249/year.
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