RTX Corporation
Financial Performance
RTX Revenue & Financials
Revenue
$88.6B (FY2025)
Market Cap
$265B
Net Income
$6.7B
Employees
180,000
What is RTX's revenue?
RTX had $88.6B in revenue for fiscal year 2025, up 9.7% from 2024. Net income was $6.7B.
- Latest revenue
- $88.6B (FY2025)
- Year-over-year
- +9.7%
- Growth rate (CAGR)
- 9.4% over 5 years
- Peak revenue
- $88.6B (FY2025)
- Years of data
- 6
- Employees
- 180,000
Financial Analysis
RTX sales grew from $56.6 billion in 2020, the year of the merger, to $88.6 billion in 2025. Net income was $6.7 billion in 2025 versus $4.8 billion in 2024, and the company generated $10.6 billion of operating cash flow and $7.9 billion of free cash flow. Momentum continued into 2026: Q2 2026 sales were $24.7 billion (up 14%, 16% organic), adjusted EPS was $1.89, and free cash flow was $2.9 billion. Management raised 2026 guidance to $95.0 to $96.0 billion of adjusted sales, $7.10 to $7.25 of adjusted EPS and $8.50 to $8.75 billion of free cash flow. Results include a multi-year GTF powder metal charge taken in 2023, so headline profit in that year is not comparable. RTX Corporation (formerly Raytheon Technologies) is a colossal American aerospace and defense conglomerate, sustaining a massive market valuation generally exceeding $130 billion.
Revenue Trend Analysis
YoY Change
+9.7%
5-Year CAGR
+9.4%
Peak Year
2025
Trend
Consistent Growth
RTX Corporation has 6 full fiscal year figures on this page, compounding at +9.4% annually over 5 years. The most recent year saw a 9.7% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $88.6B. Of 5 comparable year-over-year steps, 5 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2025 | $88.6B | $9.3B | $6.7B | +9.7% | RTX CORPORATION annual report (Form 10-K, SEC EDGAR, filed 2026-02-06) Fiscal year ended 2025-12-31. |
| FY2024 | $80.7B | $6.5Bfiling | $4.8B | +17.1% | RTX CORPORATION annual report (Form 10-K, SEC EDGAR, filed 2025-02-03) Fiscal year ended 2024-12-31. |
| FY2023 | $68.9B | $3.6Bfiling | $3.2B | +2.8% | RTX CORPORATION annual report (Form 10-K, SEC EDGAR, filed 2025-02-03) Fiscal year ended 2023-12-31. |
| FY2022 | $67.1B | $5.5B | $5.2B | +4.2% | RTX CORPORATION annual report (Form 10-K, SEC EDGAR, filed 2025-02-03) Fiscal year ended 2022-12-31. |
| FY2021 | $64.4B | $5.1B | $3.9B | +13.8% | RTX CORPORATION annual report (Form 10-K, SEC EDGAR, filed 2024-02-05) Fiscal year ended 2021-12-31. |
| FY2020 | $56.6B | -$1.9B | -$3.5B | — | RTX CORPORATION annual report (Form 10-K, SEC EDGAR, filed 2023-02-07) Fiscal year ended 2020-12-31. First year after the UTC-Raytheon merger. |
Click any row to see year details.
RTX Corporation balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest. In some years total assets exceed liabilities plus shareholders' equity because the company reported redeemable preferred stock or non-controlling interests outside both.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $10.6B | $2.6B | $171.1B | $103.9B | $65.2B | $7.9B | Form 10-K |
| FY2024ended Dec 31, 2024 | $7.2B | $2.6B | $162.9B | $100.9B | $60.2B | $4.5B | Form 10-K |
| FY2023ended Dec 31, 2023 | $7.9B | $2.4B | $161.9B | $100.4B | $59.8B | $5.5B | Form 10-K |
| FY2022ended Dec 31, 2022 | $7.2B | $2.3B | $158.9B | $84.7B | $72.6B | $4.9B | Form 10-K |
| FY2021ended Dec 31, 2021 | — | $2.1B | $161.4B | $86.7B | $73.1B | — | Form 10-K |
| FY2020ended Dec 31, 2020 | — | $1.8B | $162.2B | $88.3B | $72.2B | — | Form 10-K |
Keep researching RTX
RTX Revenue and Financial FAQ
What was RTX's revenue performance in 2023 and 2024?
RTX reported GAAP sales of $68.9 billion in 2023 (adjusted sales of $74.3 billion, up 11% YoY organically) and accelerated past $75 billion to $78 billion in 2024, powered by surging commercial aftermarket demand and defense munitions replenishment.
What was the size of RTX's multi-year order backlog?
RTX reached an all-time record backlog exceeding $196 billion in 2023-2024, comprising roughly $118 billion in commercial aerospace orders and $78 billion in defense contracts, representing over 2.5 years of annual revenue.
How did the GTF powdered metal charge impact 2023 GAAP earnings?
RTX recognized a gross pre-tax operating charge of $5.4 billion ($2.9 billion net of partner share) in Q3 2023, reducing GAAP net income to $3.2 billion for the full year 2023, while adjusted net income remained resilient at $7.4 billion.
What was the $10 billion Accelerated Share Repurchase (ASR) program?
In October 2023, confident in its underlying cash flow and long-term fundamentals despite the powdered metal crisis, RTX executed an unprecedented $10 billion Accelerated Share Repurchase (ASR) program, immediately retiring ~10% of outstanding common shares.
What is RTX's Free Cash Flow (FCF) trajectory?
RTX generated $5.5 billion in free cash flow in 2023, and targets scaling free cash flow toward $7.0 billion to $7.5 billion by 2025 as powdered metal customer compensation payments peak and normalize.
What is RTX's dividend track record and yield?
RTX has paid continuous cash dividends for nearly 90 consecutive years (dating back to United Aircraft in 1936), consistently raising its payout annual and yielding roughly 2.3% to 2.8%, distributing over $3.0 billion annually to shareholders.
What was the revenue breakdown across RTX's three business units in 2023?
Collins Aerospace generated approximately $26.2 billion, Raytheon generated roughly $26.3 billion, and Pratt & Whitney contributed approximately $23.7 billion in adjusted net sales.
What is RTX's balance sheet debt and credit rating?
RTX holds investment-grade credit ratings (Baa1 from Moody's and A- from S&P) with approximately $42 billion in total debt, maintaining manageable debt service supported by massive multi-year cash flow from operations.
How much does RTX spend on Research and Development (R&D)?
RTX invests approximately $2.6 billion annually in company-funded R&D, while executing an additional $4.5 billion to $5.0 billion in customer-funded government defense research and development.
What are RTX's annual capital expenditure (capex) commitments?
RTX invests roughly $2.5 billion annually in capital expenditures, funding modern turbine blade casting facilities, automated avionics assembly lines, and high-rate missile production plants.
How did commercial airline passenger traffic recovery impact RTX's margins?
The global surge in commercial air travel to above-pre-pandemic levels drove 20%+ annual growth in commercial aftermarket maintenance at Collins and Pratt & Whitney, expanding segment operating margins back toward 15% to 16%.
What is RTX's long-term EPS growth target?
Management targets high single-digit to low double-digit compound annual growth in adjusted earnings per share (EPS), driven by mid-single-digit organic revenue growth, operating margin expansion, and share count reductions.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "RTX Revenue & Financials." CorpDigest, https://corpdigest.com/company/rtx/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>RTX reported $88.6B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/rtx/financials" target="_blank" rel="noopener">CorpDigest — RTX financials</a></div>Related Financial Audits
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