Financials RTX Corporation Wiener Boerse

Equities

RTX

US75513E1010

Aerospace & Defense

End-of-day quote Wiener Boerse Other stock markets 06:00:00 2024-07-14 pm EDT			5-day change	1st Jan Change
93.56 ^EUR	+0.73%		+0.12%	+22.94%

Jul. 15	RTX Unit Wraps Up F135 Engine Core Upgrade Preliminary Design Review	MT
Jul. 15	Melius Research Adjusts Price Target on RTX to $103 From $101	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	127,850	107,863	129,019	148,530	120,714	137,619	-	-
Enterprise Value (EV) ¹	164,120	130,884	152,648	174,224	157,954	172,228	169,572	167,179
P/E ratio	23.4 x	-27.6 x	33.6 x	28.8 x	37.7 x	24.1 x	21.1 x	18.5 x
Yield	1.96%	3.02%	2.33%	2.14%	-	2.39%	2.55%	2.77%
Capitalization / Revenue	1.66 x	1.7 x	2 x	2.21 x	1.75 x	1.75 x	1.65 x	1.55 x
EV / Revenue	2.13 x	2.06 x	2.37 x	2.6 x	2.29 x	2.18 x	2.03 x	1.89 x
EV / EBITDA	11.5 x	12.8 x	12.9 x	14.6 x	12.1 x	13.6 x	12.6 x	11.6 x
EV / FCF	24.8 x	51.5 x	30.5 x	35.7 x	28.9 x	30.3 x	24.5 x	20.1 x
FCF Yield	4.04%	1.94%	3.28%	2.8%	3.46%	3.31%	4.08%	4.98%
Price to Book	3.07 x	1.51 x	1.76 x	2.04 x	-	2.19 x	2.07 x	1.99 x
Nbr of stocks (in thousands)	853,698	1,508,369	1,499,176	1,471,758	1,434,680	1,327,345	-	-
Reference price ²	149.8	71.51	86.06	100.9	84.14	103.7	103.7	103.7
Announcement Date	1/28/20	1/26/21	1/25/22	1/24/23	1/23/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	77,046	63,437	64,388	67,074	68,920	78,864	83,602	88,541
EBITDA ¹	14,291	10,204	11,820	11,931	13,106	12,618	13,440	14,459
EBIT ¹	10,508	5,796	7,263	7,823	8,895	9,684	10,921	12,025
Operating Margin	13.64%	9.14%	11.28%	11.66%	12.91%	12.28%	13.06%	13.58%
Earnings before Tax (EBT) ¹	8,243	-2,353	4,931	6,027	3,836	7,312	8,398	9,238
Net income ¹	5,537	-3,519	3,864	5,197	3,195	5,979	6,699	7,442
Net margin	7.19%	-5.55%	6%	7.75%	4.64%	7.58%	8.01%	8.4%
EPS ²	6.410	-2.590	2.560	3.500	2.230	4.307	4.913	5.591
Free Cash Flow ¹	6,627	2,539	5,008	4,880	5,468	5,693	6,915	8,330
FCF margin	8.6%	4%	7.78%	7.28%	7.93%	7.22%	8.27%	9.41%
FCF Conversion (EBITDA)	46.37%	24.88%	42.37%	40.9%	41.72%	45.12%	51.45%	57.61%
FCF Conversion (Net income)	119.69%	-	129.61%	93.9%	171.14%	95.22%	103.22%	111.94%
Dividend per Share ²	2.940	2.160	2.005	2.160	-	2.482	2.643	2.871
Announcement Date	1/28/20	1/26/21	1/25/22	1/24/23	1/23/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	17,044	15,716	16,314	16,951	18,093	17,214	18,315	13,464	19,927	19,305	19,262	19,807	20,611	20,275	20,438
EBITDA ¹	3,005	2,912	2,881	3,033	3,105	3,152	3,252	3,302	3,330	3,351	3,026	3,130	3,277	3,217	3,184
EBIT ¹	1,861	1,898	1,882	1,986	2,057	2,118	2,208	2,228	2,271	2,292	2,343	2,472	2,582	2,565	2,660
Operating Margin	10.92%	12.08%	11.54%	11.72%	11.37%	12.3%	12.06%	16.55%	11.4%	11.87%	12.16%	12.48%	12.53%	12.65%	13.01%
Earnings before Tax (EBT) ¹	867	1,242	1,498	1,637	1,650	1,781	1,572	-1,322	1,735	1,851	1,753	1,783	1,945	2,003	2,122
Net income ¹	686	1,084	1,304	1,387	1,422	1,426	1,327	-984	1,426	1,709	1,382	1,393	1,401	1,549	1,697
Net margin	4.02%	6.9%	7.99%	8.18%	7.86%	8.28%	7.25%	-7.31%	7.16%	8.85%	7.18%	7.03%	6.8%	7.64%	8.3%
EPS ²	0.4600	0.7200	0.8800	0.9400	0.9600	0.9700	0.9100	-0.6800	1.050	1.280	1.031	1.036	1.009	1.119	1.222
Dividend per Share ²	0.5100	0.5100	1.100	0.5500	-	0.5500	-	-	-	0.5900	0.6318	0.6318	0.6298	0.6297	0.6702
Announcement Date	1/25/22	4/26/22	7/26/22	10/25/22	1/24/23	4/25/23	7/25/23	10/24/23	1/23/24	4/23/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	36,270	23,021	23,629	25,694	37,240	34,609	31,953	29,560
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.538 x	2.256 x	1.999 x	2.154 x	2.841 x	2.743 x	2.377 x	2.044 x
Free Cash Flow ¹	6,627	2,539	5,008	4,880	5,468	5,693	6,915	8,330
ROE (net income / shareholders' equity)	17.8%	7.26%	5.32%	7.13%	11%	11.9%	12.5%	13.7%
ROA (Net income/ Total Assets)	5.21%	2.74%	2.39%	3.25%	1.99%	4.12%	4.41%	4.63%
Assets ¹	106,274	-128,346	161,775	160,134	160,367	145,245	151,847	160,649
Book Value Per Share ²	48.90	47.50	49.00	49.50	-	47.40	50.00	52.20
Cash Flow per Share ²	10.30	3.190	4.730	4.820	5.490	6.950	7.730	8.040
Capex ¹	2,256	1,795	2,134	2,288	2,415	2,534	2,647	2,601
Capex / Sales	2.93%	2.83%	3.31%	3.41%	3.5%	3.21%	3.17%	2.94%
Announcement Date	1/28/20	1/26/21	1/25/22	1/24/23	1/23/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for RTX Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

103.7 USD

Average target price

107.4 USD

Spread / Average Target

+3.60%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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