YouTube · Q2 2026 · 2026-07-17
RTX · NYSE
RTX Corporation
Aerospace & Defense · United States
- Market cap (USD)
- US$271.63B
- Trailing P/E
- 32.73x
- Forward P/E
- 24.88x
- Quarterly revenue growth
- 11.1%
- Trailing net margin
- 8.8%
- Indicated dividend yield
- 1.5%
Snapshot 2026-11-11 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2027-01-26 (provider estimate; issuer confirmation unavailable here).
Company background
RTX Corporation, an aerospace and defense company, provides systems and services for commercial, military, and government customers worldwide. It operates through three segments: Collins Aerospace (Collins), Pratt & Whitney, and Raytheon. The Collins segment offers aerospace and defense products, and aftermarket services for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations. This segment designs, manufactures, and supplies electric power generation and management and distribution, environmental control, flight control, air data and aircraft sensing, engine control, and engine nacelle systems, as well as engine components; cabin interiors, including seating, oxygen, food and beverage preparation, storage and galley, lavatory, and wastewater management systems; connected aviation solutions and services; and systems solutions for connected battlespace, test and training range systems, crew escape systems, and simulation and training. It also provides spare parts, overhaul and repair, engineering and technical support, training and fleet management solutions, and asset and information management services. The Pratt & Whitney segment supplies aircraft engines for commercial, military, business jet, and general aviation customers; and produces, sells, and services military and commercial auxiliary power units, as well as offers fleet management and aftermarket maintenance, repair, and overhaul services. The Raytheon segment provides defensive and offensive threat detection, tracking, and mitigation capabilities for government and commercial customers. This segment offers sensors, mission orchestration and satellite control products, and software. The company was formerly known as Raytheon Technologies Corporation and changed its name to RTX Corporation in July 2023. RTX Corporation was incorporated in 1934 and is headquartered in Arlington, Virginia.
Company websiteQ3 2026
Go beyond the headline.
Q3 2026 REPORT HIGHLIGHTS
What’s changed for RTX
RTX raises its outlook, but IEEPA recovery, customer exposure and cash timing complicate the price paid for growth.
Growth extends across the portfolio.
Sales reached $24.965B, with higher commercial aftermarket and defense activity. Backlog reached $340B.
The earnings surge includes a recovery benefit.
Adjusted EPS of $2.26 includes $0.25 from IEEPA recovery. Removing only that benefit leaves $2.01, still above last year’s $1.70.
Cash timing cuts both ways.
Quarterly FCF declined to $2.119B, while nine-month FCF rose to $6.306B. Contract-liability movements explain a large part of the quarterly reversal.
Pratt has both momentum and customer risk.
Adjusted operating profit rose to $968M, but GAAP profit fell to $608M after a $363M customer-bankruptcy charge.
Valuation remains the constraint.
Our three routes support $165 base value and $173.75 probability-weighted value versus $192.11 before the print. A stronger business need not be a cheap stock.
Comparable businesses
RTX peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | RTXRTX CorporationSnapshot 2026-11-11Financial period: 2026-09-30 | GEGE AerospaceSnapshot 2026-11-11Financial period: 2026-09-30 | SAFRYSafran SASnapshot 2026-11-11Financial period: 2026-06-30 | Peer medianSimilar-size peers only |
|---|---|---|---|---|
| Market capMarket value, converted to USD | US$271.63B | US$355.62B | US$143.71B | US$249.67Bn=2 |
| Forward P/EProvider forward earnings estimate | 24.88x | 36.80x | 9.48x | 23.14xn=2 |
| EV / EBITDAEnterprise value / trailing EBITDA | 17.79x | 31.01x | — | — |
| Revenue growthLatest quarter vs prior-year quarter | 11.1% | 15.9% | 16.0% | 15.9%n=2 |
| Operating marginLatest reported quarter | 13.1% | 19.7% | 13.9% | 16.8%n=2 |
| Free cash flow yieldTrailing cash flow / market cap | 3.1% | 1.8% | — | — |
| Net debt / EBITDANet debt / trailing EBITDA | 1.75x | 0.93x | -0.26x | 0.34xn=2 |
| Debt / equityTotal debt / positive book equity | 0.55x | 1.16x | 0.34x | 0.75xn=2 |
| Trailing P/ETrailing twelve-month earnings | 32.73x | 39.17x | 31.91x | 35.54xn=2 |
| Price / bookPrice / positive book equity per share | 3.92x | 20.21x | 8.83x | 14.52xn=2 |
| EV / salesEnterprise value / trailing revenue | 3.14x | 6.85x | — | — |
| Earnings growthLatest quarter vs prior-year quarter | 34.0% | 8.9% | -65.1% | -28.1%n=2 |
| Gross marginTrailing twelve months | 21.1% | 30.1% | 46.8% | 38.4%n=2 |
| Net marginTrailing twelve months | 8.8% | 17.3% | 11.6% | 14.4%n=2 |
| Return on equityProvider trailing return; positive equity only | 12.8% | 50.2% | 27.5% | 38.8%n=2 |
| Free cash flow marginTrailing free cash flow / revenue | 8.6% | 12.0% | 10.6% | 11.3%n=2 |
| Dividend yieldIndicated annual dividend / price | 1.5% | 0.5% | 1.1% | 0.8%n=2 |
| Earnings payoutProvider trailing dividend payout | 45.9% | 20.2% | 35.9% | 28.1%n=2 |
| Current ratioCurrent assets / current liabilities | 1.04x | 0.98x | 0.92x | 0.95xn=2 |
| BetaProvider historical market sensitivity | 0.28 | 1.41 | 0.94 | 1.17n=2 |
YouTube · Q2 2026 · 2026-07-17
Safran SA (SAFRY)
Similar size · 0.53x market cap
Aircraft engines & aerospace systems
No Charged Alpha episode is linked for this listing yet.
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-11. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for RTX
Q3 20262026-10-20
FREE RESEARCH PACKET · Q3 2026
RTX Q3 2026: How Much of the Earnings Surge Repeats?
RTX raises its outlook, but IEEPA recovery, customer exposure and cash timing complicate the price paid for growth.
Research published October 20, 2026 · Download original report
Read Research PacketRTX Stock: Earnings Surged — How Much Can Repeat? | Q3 2026
Presentation · 2026-10-20 · YouTube
Q2 20262026-07-23
RTX Stock: It Beat Earnings and RAISED Guidance AGAIN — So Why We Say HOLD
Presentation · 2026-07-23 · YouTube
Q1 20262026-04-22
RTX Stock: EPS Beats by 17% — Q1 2026 Earnings Analysis
Presentation · 2026-04-22 · YouTube
RTX Q1 2026 earnings analysis
Presentation · 2026-04-09 · YouTube