Industrials · Aerospace & Defense · US stock · price as of 16 Oct 2026
Key indicators
Price
$193.92
52-week range
$153.82 – $226.41
Market cap
$264.7B
P/E (trailing)
34.1×
EV / EBITDA
19.7×
Free-cash-flow yield
4.3%
Dividend yield
1.5%
Revenue (last 12 months)
$93.5B
Revenue growth (3y a year)
9.7%
Operating margin
11.2%
Return on invested capital
9.0%
Net debt / EBITDA
1.9×
Fair value
Blended fair value$109.92 range $104 – $117
Versus priceOvervalued−43% to fair value
Peer multiples
$95.60
Fundamentals-adjusted multiple
$107.88
10-year DCF (market-scaled)
$126.27
Earnings power value (floor, not blended)
$28.94
Model uncertainty
High
X-Ray Score
48/ 100 · High confidence · ahead of 37% of sector peers
Valuation30
Growth72
Profitability38
Financial health57
Dividends52
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
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 1.5%.
StocksXray gives RTX Corp an X-Ray Score of 48 out of 100 (high confidence), ahead of 37% of the S&P 500 stocks in its sector. Its strongest lens is growth (72) and its weakest is valuation (30).
Our fair value blend is $109.92 (range $103.67 to $117.24). At $193.92 the stock trades 76% above that blend, so the label is "Overvalued" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
RTX Corp (RTX)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$77.75
$93.31
$79.84
$112.38
$181.43
$193.92
Market cap
$117.3B
$138.6B
$114.6B
$151.0B
$246.1B
$264.7B
P/E
30.4×
26.7×
35.8×
31.7×
36.6×
34.1×
EV / revenue
2.2×
2.5×
2.2×
2.3×
3.1×
3.2×
EV / EBITDA
14.6×
17.2×
19.6×
17.2×
20.3×
19.8×
Price / free cash flow
–
28.4×
21.0×
33.3×
31.0×
23.2×
Free-cash-flow yield
–
3.5%
4.8%
3.0%
3.2%
4.3%
Price / book
1.6×
1.9×
1.9×
2.5×
3.8×
4.0×
Dividend yield
2.58%
2.31%
2.91%
2.21%
1.47%
1.45%
Fundamentals checklist ● 4 Good · ● 5 Average · ● 6 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−3.7%Average
Free-cash-flow yield4.3%Average
Risk models
Altman Z score2.2×Bad
Piotroski F-Score8 of 9Good
Growth
EPS growth (3y)12.3%Average
Free-cash-flow growth (3y)17.6%Average
Revenue growth (3y)9.7%Good
Growth consistency100%Good
Balance sheet
Current ratio1.0×Bad
Net debt / EBITDA1.9×Average
Interest coverno interest costGood
Valuation
Fair value vs price0.6×Bad
EBIT / EV yield3.6%Bad
Profitability
Return on invested capital9.0%Bad
Operating margin11.2%Bad
XStocksXray
RTX Corp (RTX)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
64,388
67,074
68,920
80,738
88,603
93,500
Gross profit
–
–
–
–
–
–
Operating income
5,136
5,504
3,561
6,538
9,300
10,485
Net income
3,864
5,197
3,195
4,774
6,732
7,738
Diluted EPS ($)
2.56
3.50
2.23
3.55
4.96
5.69
Free cash flow
–
4,880
5,468
4,534
7,940
11,407
Gross margin
–
–
–
–
–
–
Operating margin
8.0%
8.2%
5.2%
8.1%
10.5%
11.2%
Net margin
6.0%
7.7%
4.6%
5.9%
7.6%
8.3%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
161,404
158,864
161,869
162,861
171,079
173,972
Cash
7,832
6,220
6,587
5,578
7,435
8,305
Total debt
31,485
32,414
43,827
41,261
37,904
37,383
Equity
73,068
72,632
59,798
60,156
65,245
66,377
Dividend per share ($)
2.01
2.16
2.32
2.48
2.67
2.82
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.