RTX
RTX NYSE Aerospace & Defense 金融 FY2016–FY2025
RTX's revenue rose 9.7% to $88.6 billion in fiscal 2025. Its operating margin was 10.5%, up from 8.1% a year earlier. Free cash flow was $7.9 billion, up 75.1%. It paid out $3.6 billion in dividends and buybacks, 46% of free cash flow. The diluted share count rose 0.9%.
RTX 的业务
RTX is an aerospace and defense company that sells systems and services to commercial, military and government customers worldwide. It has three main segments. Collins Aerospace makes aircraft systems such as power systems, flight controls, landing gear, avionics and complete cabin interiors, and provides spare parts, repairs and other aftermarket services. Pratt & Whitney designs, makes and services aircraft engines, including the GTF engine family that powers the Airbus A320neo family and the F135 engine for the F-35 fighter jet. Raytheon makes missiles, air and missile defense systems, radars and sensors, including the Patriot system and Tomahawk and AMRAAM missiles.
The U.S. government is RTX's largest customer, representing a substantial majority of its defense sales, and all three segments also have substantial international sales. Boeing and Airbus are Collins' largest commercial customers, with combined sales of 16% of Collins segment sales in 2025, before discounts and incentives. Airbus accounted for 29% of Pratt & Whitney segment sales in 2025, also before discounts and incentives. Total backlog, meaning firm orders not yet filled, was $268 billion at the end of 2025. RTX says all of its businesses face significant competition from U.S. and foreign companies.
As of December 31, 2025, RTX had approximately 180,000 employees in 52 countries, including approximately 54,000 engineering professionals, with 69% of its employees in the U.S. It makes and services its products in approximately 225 facilities in approximately 25 countries.
- 法定名称
- RTX CORPORATION
- 财年结束日
- 2025年12月31日
- 最新年报
- 10-K · 2026年2月6日
- 登记号 · CIK
- 0000101829-26-000006
0000101829
营收与利润率
RTX 在 2025 财年 营收为 $88.6B，同比增长 9.7%。
净利润与每股收益
从 2016 财年到 2025 财年，稀释每股收益年均增长 −2.3%。 亏损期间以红色显示。
资本回报率
税后营业利润占投入业务资金(债务加股东权益减现金)的比例。
现金流
2025 财年 的自由现金流为 $7.9B，占营收的 9.0%。 经营现金流减资本支出。
股息、回购与股数
RTX 在 2025 财年 向股东返还 $3.6B，占自由现金流的 46%。 稀释股数增加 1.0%。
自己评估 RTX
调整假设，查看对应的每股价值。这些是模型，不是预测或目标价，结果完全取决于你的输入。
现金流折现
每股价值
—
加上净现金 −$29.7B，再除以 1,356.4M 稀释股数。十年现金流加终值，折现至今天。
盈利倍数
每股价值
—
参考倍数：当前 31.0x · 同业 27.8x · 板块 26.0x。
资产负债表
现金、债务以及显示 RTX 承担债务能力的指标。
| 财年末 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| 现金及短期投资 | $8.8B | $7.0B | $7.3B | $6.4B | $8.2B |
| 债务(含融资租赁) | $31.5B | $31.9B | $43.8B | $41.3B | $37.9B |
| 净债务 / EBITDA | 2.3x | 2.6x | 4.7x | 3.2x | 2.2x |
| 债务 / 股东权益 | 0.4x | 0.4x | 0.7x | 0.7x | 0.6x |
| 利息保障倍数 | 3.9x | 4.3x | 2.4x | 3.5x | 5.0x |
| 流动比率 | 1.2x | 1.1x | 1.0x | 1.0x | 1.0x |
| 速动比率 | 0.9x | 0.8x | 0.8x | 0.7x | 0.8x |
| 总资产 | $161.4B | $158.9B | $161.9B | $162.9B | $171.1B |
| 总负债 | $86.7B | $84.7B | $100.4B | $100.9B | $103.9B |
| 股东权益 | $73.1B | $72.6B | $59.8B | $60.2B | $65.2B |
| 净债务 (− = 净现金) | $22.7B | $24.9B | $36.5B | $34.9B | $29.7B |
内部人交易
高管、董事和持股超过 10% 的股东在公开市场的买卖，数据来自 Form 4 申报。“计划”表示依据事先制定的 Rule 10b5-1 计划进行的交易。
买入(12 个月)
$0.0M
0 名内部人士
卖出(12 个月)
$39.5M
9 名内部人士
卖出中按计划执行的比例
0%
$0.0M
| 日期 | 内部人士 | 交易 | 股数 | 股价 | 金额 | 文件 |
|---|---|---|---|---|---|---|
| 2026年8月18日 | Ramsaran MaharajhEVP and General Counsel | 卖出 | 13,655 | $223.92 | $3.1M | Form 4 |
| 2026年7月28日 | Kevin G DaSilvaSenior VP and Treasurer | 卖出 | 2,250 | $216.93 | $0.5M | Form 4 |
| 2026年7月27日 | Tracy A AtkinsonDirector | 卖出 | 2,295 | $218.05 | $0.5M | Form 4 |
| 2026年7月24日 | Kevin G DaSilvaSenior VP and Treasurer | 卖出 | 4,760 | $213.62 | $1.0M | Form 4 |
| 2026年7月24日 | Troy D BrunkPresident, Collins Aerospace | 卖出 | 8,557 | $210.30 | $1.8M | Form 4 |
| 2026年2月23日 | Dantaya M WilliamsEVP & Chief HR Officer | 卖出 | 12,713 | $202.83 | $2.6M | Form 4 |
| 2026年2月19日 | Christopher T. CalioChairman, President and CEO, Director | 卖出 | 63,568 | $203.80 | $13.0M | Form 4 |
| 2026年2月19日 | Neil G. Mitchill JREVP, Chief Financial Officer | 卖出 | 35,755 | $205.57 | $7.4M | Form 4 |
| 2026年2月19日 | Ramsaran MaharajhEVP and General Counsel | 卖出 | 15,124 | $204.65 | $3.1M | Form 4 |
| 2026年2月13日 | Kevin G DaSilvaSenior VP and Treasurer | 卖出 | 8,136 | $201.30 | $1.6M | Form 4 |
| 2026年2月12日 | Shane G EddyPresident, P&w | 卖出 | 17,527 | $199.16 | $3.5M | Form 4 |
| 2026年2月10日 | Amy L JohnsonSenior VP and Controller | 卖出 | 8,088 | $195.03 | $1.6M | Form 4 |
Piotroski F 分数
关于盈利能力、融资和效率的九项通过/未通过测试。8–9 为强，0–2 为弱。
| 测试项 | FY23 | FY24 | FY25 |
|---|---|---|---|
| 净利润为正 | ✓ | ✓ | ✓ |
| 经营现金流为正 | ✓ | ✓ | ✓ |
| 资产回报率上升 | ✕ | ✓ | ✓ |
| 经营现金流高于净利润 | ✓ | ✓ | ✓ |
| 债务相对资产下降 | ✕ | ✓ | ✓ |
| 流动比率上升 | ✕ | ✕ | ✓ |
| 股数未增加 | ✓ | ✓ | ✕ |
| 毛利率上升 | — | — | — |
| 营收相对资产上升 | ✓ | ✓ | ✓ |
| F 分数 | 5 / 8 | 7 / 8 | 7 / 8 |
| 应计比率 | −2.9% | −1.5% | −2.3% |
| Altman Z'' | 1.91 | 1.97 | 2.18 |
相似公司
各公司最近一个财年的数据。各公司财年结束月份不同，因此期间并不完全一致。
| 公司 | 市值 | 增长 | 营业利润率 | 自由现金流利润率 | ROIC | 市盈率 | F 分数 | |
|---|---|---|---|---|---|---|---|---|
| RTX RTX | $261.3B | 9.7% | 10.5% | 9.0% | 7.8% | 31.0x | 7 | |
| Boeing BA | $148.9B | 34.5% | 4.8% | −2.1% | 13.5% | 67.0x | 6 | 比较 → |
| Lockheed Martin LMT | $139.9B | 5.6% | 10.3% | 9.2% | 27.1% | 21.5x | 5 | 比较 → |
| General Dynamics GD | $95.8B | 10.1% | 10.2% | 7.5% | 14.4% | — | 8 | 比较 → |
| GE Aerospace GE | $297.4B | 18.5% | — | 15.8% | 35.8% | 33.0x | 5 | 比较 → |
10 年数据
金额单位为 USD。将鼠标悬停在指标名称上可查看定义。
| 财年 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| 利润表 | ||||||||||
| 营收 | $57.2B | $59.8B | $34.7B | $45.3B | $56.6B | $64.4B | $67.1B | $68.9B | $80.7B | $88.6B |
| 毛利 | $26.9B | $28.8B | — | — | — | — | — | — | — | — |
| 研发支出 | $2.4B | $2.4B | $1.9B | $2.5B | $2.6B | $2.7B | $2.7B | $2.8B | $2.9B | $2.8B |
| 营业利润 | $8.2B | $8.1B | $2.9B | $4.9B | −$1.9B | $5.1B | $5.5B | $3.6B | $6.5B | $9.3B |
| 利息支出 | $1.0B | $909M | $1.0B | $1.6B | $1.4B | $1.3B | $1.3B | $1.5B | $1.9B | $1.9B |
| 税前利润 | $7.1B | $7.8B | $2.5B | $4.2B | −$2.4B | $5.1B | $6.1B | $3.8B | $6.2B | $8.7B |
| 所得税 | $1.7B | $2.8B | $1.1B | $421M | $575M | $964M | $790M | $456M | $1.2B | $1.7B |
| 净利润 | $5.1B | $4.6B | $5.3B | $5.5B | −$3.5B | $3.9B | $5.2B | $3.2B | $4.8B | $6.7B |
| 稀释每股收益 | $6.12 | $5.70 | $6.50 | $6.41 | −$2.59 | $2.56 | $3.50 | $2.23 | $3.55 | $4.96 |
| 稀释股数 | 0.83B | 0.80B | 0.81B | 0.86B | 1.36B | 1.51B | 1.49B | 1.44B | 1.34B | 1.36B |
| 现金流 | ||||||||||
| 经营现金流 | $6.4B | $5.6B | $2.7B | $5.8B | $4.3B | $7.1B | $7.2B | $7.9B | $7.2B | $10.6B |
| 资本支出 | $1.7B | $2.0B | $1.5B | $1.9B | $1.8B | $2.1B | $2.3B | $2.4B | $2.6B | $2.6B |
| 自由现金流 | $4.7B | $3.6B | $1.2B | $4.0B | $2.5B | $5.0B | $4.9B | $5.5B | $4.5B | $7.9B |
| 折旧与摊销 | $2.0B | $2.1B | $1.9B | $2.7B | $4.2B | $4.6B | $4.1B | $4.2B | $4.4B | $4.4B |
| 股权激励 | $152M | $192M | $169M | $268M | $330M | $442M | $420M | $425M | $437M | $519M |
| 收购 | $710M | $231M | $15.0B | $9.0M | $419M | $1.1B | $66.0M | $0.0M | $0.0M | $0.0M |
| 股票回购 | $2.3B | $1.5B | $325M | $151M | $47.0M | $2.3B | $2.8B | $12.9B | $444M | $50.0M |
| 已付股息 | $2.1B | $2.1B | $2.2B | $2.4B | $2.7B | $3.0B | $3.1B | $3.2B | $3.2B | $3.6B |
| 股息与回购 | $4.3B | $3.5B | $2.5B | $2.6B | $2.8B | $5.3B | $5.9B | $16.1B | $3.7B | $3.6B |
| 资产负债表 | ||||||||||
| 现金及短期投资 | $7.2B | $9.0B | $3.7B | $4.9B | $9.7B | $8.8B | $7.0B | $7.3B | $6.4B | $8.2B |
| 总债务 | $23.9B | $27.5B | $45.5B | $43.3B | $31.8B | $31.5B | $31.9B | $43.8B | $41.3B | $37.9B |
| 融资租赁负债 | $0.0M | $0.0M | $0.0M | $84.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| 流动资产 | $28.6B | $32.9B | $35.5B | $61.6B | $43.4B | $42.1B | $42.4B | $48.4B | $51.1B | $60.3B |
| 流动负债 | $21.9B | $24.4B | $31.4B | $46.6B | $35.8B | $35.4B | $39.1B | $46.8B | $51.5B | $58.8B |
| 存货 | $8.7B | $9.9B | $10.1B | $9.0B | $9.4B | $9.2B | $10.6B | $11.8B | $12.8B | $13.4B |
| 固定资产净额 | $9.2B | $10.2B | $12.3B | $10.3B | $15.0B | $15.0B | $15.2B | $15.7B | $16.1B | $16.9B |
| 总资产 | $89.7B | $96.9B | $134.2B | $139.6B | $162.2B | $161.4B | $158.9B | $161.9B | $162.9B | $171.1B |
| 总负债 | $60.2B | $65.4B | $93.5B | $95.3B | $88.3B | $86.7B | $84.7B | $100.4B | $100.9B | $103.9B |
| 股东权益 | $27.6B | $29.6B | $38.4B | $41.8B | $72.2B | $73.1B | $72.6B | $59.8B | $60.2B | $65.2B |
| 利润率 | ||||||||||
| 毛利率 | 47.0% | 48.2% | — | — | — | — | — | — | — | — |
| 营业利润率 | 14.4% | 13.6% | 8.3% | 10.8% | −3.3% | 8.0% | 8.2% | 5.2% | 8.1% | 10.5% |
| EBITDA 利润率 | 17.8% | 17.2% | 13.8% | 16.8% | 4.0% | 15.1% | 14.3% | 11.3% | 13.5% | 15.4% |
| 净利率 | 8.8% | 7.6% | 15.2% | 12.2% | −6.2% | 6.0% | 7.8% | 4.6% | 5.9% | 7.6% |
| 自由现金流利润率 | 8.2% | 6.0% | 3.5% | 8.7% | 4.5% | 7.8% | 7.3% | 7.9% | 5.6% | 9.0% |
| 回报率 | ||||||||||
| 资本回报率 | 14.2% | 10.8% | 2.4% | 5.4% | −1.7% | 4.3% | 4.9% | 3.2% | 5.4% | 7.8% |
| 已动用资本回报率 | 12.4% | 11.6% | 3.3% | 5.0% | −1.7% | 4.1% | 4.5% | 3.0% | 5.8% | 8.3% |
| 股本回报率 | 18.4% | 15.9% | 15.5% | 13.8% | −6.2% | 5.3% | 7.1% | 4.8% | 8.0% | 10.7% |
| 资产回报率 | 5.7% | 4.9% | 4.6% | 4.0% | −2.3% | 2.4% | 3.3% | 2.0% | 2.9% | 4.0% |
| 增长 | ||||||||||
| 营收增长 | 2.0% | 4.5% | −42.0% | 30.7% | 24.8% | 13.8% | 4.2% | 2.8% | 17.2% | 9.7% |
| 净利润增长 | −33.6% | −10.0% | 15.8% | 5.1% | −163.6% | — | 34.5% | −38.5% | 49.4% | 41.0% |
| 每股收益增长 | −28.9% | −6.9% | 14.0% | −1.4% | −140.4% | — | 36.7% | −36.3% | 59.2% | 39.7% |
| 自由现金流增长 | −7.6% | −23.3% | −66.7% | 228.6% | −35.8% | 97.2% | −2.6% | 12.1% | −17.1% | 75.1% |
| 股数变化 | −6.5% | −3.3% | 1.4% | 6.6% | 57.2% | 11.1% | −1.5% | −3.4% | −6.4% | 1.0% |
| 财务健康 | ||||||||||
| 净债务 / EBITDA | 1.6x | 1.8x | 8.8x | 5.0x | 9.8x | 2.3x | 2.6x | 4.7x | 3.2x | 2.2x |
| 债务 / 股东权益 | 0.9x | 0.9x | 1.2x | 1.0x | 0.4x | 0.4x | 0.4x | 0.7x | 0.7x | 0.6x |
| 利息保障倍数 | 7.9x | 9.0x | 2.8x | 3.1x | −1.4x | 3.9x | 4.3x | 2.4x | 3.5x | 5.0x |
| 流动比率 | 1.3x | 1.4x | 1.1x | 1.3x | 1.2x | 1.2x | 1.1x | 1.0x | 1.0x | 1.0x |
| 速动比率 | 0.9x | 0.9x | 0.8x | 1.1x | 1.0x | 0.9x | 0.8x | 0.8x | 0.7x | 0.8x |
| 资本配置 | ||||||||||
| 资本支出 / 营收 | 3.0% | 3.4% | 4.2% | 4.1% | 3.2% | 3.3% | 3.4% | 3.5% | 3.3% | 3.0% |
| 股权激励 / 营收 | 0.3% | 0.3% | 0.5% | 0.6% | 0.6% | 0.7% | 0.6% | 0.6% | 0.5% | 0.6% |
| 股东回报 / 自由现金流 | 91.7% | 97.5% | 207.4% | 65.6% | 109.5% | 105.5% | 121.5% | 294.6% | 80.8% | 45.6% |
| 质量评分 | ||||||||||
| Piotroski F 分数 | 7.0 | 7.0 | 3.0 | 5.0 | 4.0 | 5.0 | 6.0 | 5.0 | 7.0 | 7.0 |
| Altman Z'' | 3.5 | 3.5 | 2.2 | 2.9 | 2.1 | 2.4 | 2.4 | 1.9 | 2.0 | 2.2 |
| 应计比率 | −1.5% | −1.2% | 2.3% | −0.2% | −5.2% | −2.0% | −1.2% | −2.9% | −1.5% | −2.3% |
来源：SEC EDGAR XBRL 文件 (CIK 0000101829). 数据更新于 2026年10月20日。 第四季度数据为全年减去前九个月。 仅供参考，不构成投资建议。依赖任何数字前，请核对原始文件。