Common-Size Balance Sheet: Assets
Quarterly Data
RTX Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-03), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The asset structure of the organization exhibits a clear transition from a long-term, intangible-heavy composition toward a higher concentration of current operating assets. Over the analyzed period, current assets increased from 26.49% of total assets in March 2021 to 36.74% by June 2026, while long-term assets concurrently declined from 73.51% to 63.26%.
- Current Asset Dynamics
- A significant expansion is observed in contract assets, which grew from 6.37% to 10.91%, indicating a higher proportion of unbilled receivables or performance obligations. Inventory levels also trended upward, rising from 5.91% to 8.28%, suggesting increased production or stockpiling. Accounts receivable showed a general increase, moving from 6.25% to 8.01%, contributing to the overall growth in the current asset base.
- Intangible and Goodwill Trends
- There is a consistent downward trend in the proportion of intangible assets, which fell from 24.90% to 17.84%. Similarly, goodwill experienced a gradual decline from 33.79% to 30.42%. This suggests the impact of systematic amortization and potential impairments, with fewer new acquisitions offsetting these reductions relative to total asset growth.
- Fixed Asset Analysis
- Gross fixed assets increased from 16.53% to 20.75% of total assets. However, this was accompanied by a rise in accumulated depreciation, which moved from -7.35% to -11.00%. Consequently, net fixed assets remained relatively stable, fluctuating within a narrow band between 9.14% and 9.88% throughout the period.
- Liquidity and Other Asset Positions
- Cash and cash equivalents exhibited volatility without a clear linear trend, starting at 5.34%, dipping to 2.86% in June 2025, and recovering to 4.77% by June 2026. Customer financing assets showed a steady contraction, decreasing from 1.92% to 1.09%, reflecting a reduced reliance on this specific asset class.
The overall trend indicates an operational shift where the balance sheet is becoming more liquid and more heavily weighted toward active production and contract fulfillment assets, while the relative influence of legacy acquisition-related intangibles is diminishing.
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