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RTX · NYSE

RTX Corporation

Aerospace & Defense · United States

USD 201.290.5% daily changeQuote 2026-11-11 · USD
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 website

Q3 2026

Go beyond the headline.

RTX Stock: Earnings Surged — How Much Can Repeat? | Q3 2026

Published 2026-10-20

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.

  1. Growth extends across the portfolio.

    Sales reached $24.965B, with higher commercial aftermarket and defense activity. Backlog reached $340B.

  2. 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.

  3. 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.

  4. 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.

  5. 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.

Comparison stocks

Market metrics · missing or inapplicable values shown as —
MetricRTXRTX CorporationSnapshot 2026-11-11Financial period: 2026-09-30GEGE AerospaceSnapshot 2026-11-11Financial period: 2026-09-30SAFRYSafran SASnapshot 2026-11-11Financial period: 2026-06-30Peer medianSimilar-size peers only
Market capMarket value, converted to USDUS$271.63BUS$355.62BUS$143.71BUS$249.67Bn=2
Forward P/EProvider forward earnings estimate24.88x36.80x9.48x23.14xn=2
EV / EBITDAEnterprise value / trailing EBITDA17.79x31.01x——
Revenue growthLatest quarter vs prior-year quarter11.1%15.9%16.0%15.9%n=2
Operating marginLatest reported quarter13.1%19.7%13.9%16.8%n=2
Free cash flow yieldTrailing cash flow / market cap3.1%1.8%——
Net debt / EBITDANet debt / trailing EBITDA1.75x0.93x-0.26x0.34xn=2
Debt / equityTotal debt / positive book equity0.55x1.16x0.34x0.75xn=2
Trailing P/ETrailing twelve-month earnings32.73x39.17x31.91x35.54xn=2
Price / bookPrice / positive book equity per share3.92x20.21x8.83x14.52xn=2
EV / salesEnterprise value / trailing revenue3.14x6.85x——
Earnings growthLatest quarter vs prior-year quarter34.0%8.9%-65.1%-28.1%n=2
Gross marginTrailing twelve months21.1%30.1%46.8%38.4%n=2
Net marginTrailing twelve months8.8%17.3%11.6%14.4%n=2
Return on equityProvider trailing return; positive equity only12.8%50.2%27.5%38.8%n=2
Free cash flow marginTrailing free cash flow / revenue8.6%12.0%10.6%11.3%n=2
Dividend yieldIndicated annual dividend / price1.5%0.5%1.1%0.8%n=2
Earnings payoutProvider trailing dividend payout45.9%20.2%35.9%28.1%n=2
Current ratioCurrent assets / current liabilities1.04x0.98x0.92x0.95xn=2
BetaProvider historical market sensitivity0.281.410.941.17n=2

Safran SA (SAFRY)

Similar size · 0.53x market cap

Aircraft engines & aerospace systems

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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

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Valuation & price history

Adjusted closing price

Price history

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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

All available reporting periods
Q3 20262026-10-20
Q2 20262026-07-23
Q1 20262026-04-22
Deep Dive2026-04-22

Reported figures

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