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Stock Analysis on Net

RTX Corp. (NYSE:RTX)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

RTX Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Sep 30, 2026 Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 3, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Short-term borrowings 0.12 0.13 0.13 0.12 0.13 0.98 0.13 0.11 0.13 0.14 0.10 0.12 0.72 0.66 0.14 0.39 1.39 0.07 0.09 0.08 0.13 0.12 0.15
Accounts payable 10.08 9.77 9.38 9.29 8.63 8.04 8.15 7.92 7.18 6.79 6.57 6.61 6.35 6.25 6.22 6.23 5.70 6.12 5.19 5.42 5.46 5.06 5.72
Accrued employee compensation 1.79 1.35 1.18 1.93 1.74 1.28 1.13 1.61 1.62 1.28 1.16 1.54 1.60 1.31 1.15 1.51 1.51 1.28 1.18 1.65 1.74 1.41 1.56
Other accrued liabilities 8.38 9.02 8.34 8.39 8.80 9.49 9.23 9.11 9.69 10.58 9.37 9.22 8.79 7.23 7.16 6.92 7.08 7.84 6.90 6.30 6.10 6.52 6.34
Contract liabilities 12.20 13.03 12.87 12.63 11.92 11.48 11.55 11.43 11.19 10.96 10.69 10.62 9.39 9.35 9.20 9.19 8.45 8.45 8.62 8.50 7.90 7.93 8.02
Long-term debt currently due 3.22 3.04 2.47 1.99 0.35 1.25 1.73 1.44 1.89 1.00 0.21 0.79 0.86 0.96 0.96 0.37 0.12 0.02 0.02 0.01 0.17 0.86 0.85
Current liabilities 35.79% 36.35% 34.37% 34.36% 31.56% 32.51% 31.92% 31.62% 31.70% 30.75% 28.10% 28.89% 27.70% 25.75% 24.83% 24.62% 24.25% 23.76% 22.00% 21.96% 21.50% 21.91% 22.64%
Long-term debt, excluding currently due 17.83 18.31 19.35 20.04 22.68 22.89 23.20 23.78 23.55 25.01 26.43 26.17 20.13 20.18 20.24 19.32 19.63 19.67 19.65 19.41 19.38 18.83 18.64
Operating lease liabilities, non-current 0.85 0.85 0.89 0.94 0.98 0.97 1.00 1.00 0.97 0.88 0.88 0.87 0.94 0.97 1.00 1.00 0.97 1.00 1.02 1.03 0.97 0.98 0.97
Future pension and postretirement benefit obligations 1.08 1.12 1.18 1.21 1.17 1.22 1.25 1.29 1.35 1.40 1.45 1.47 2.74 2.82 2.89 3.03 4.65 4.74 4.84 4.87 6.14 6.25 6.11
Other long-term liabilities 4.25 4.19 4.29 4.21 4.24 3.98 4.21 4.26 4.29 4.31 4.35 4.64 4.63 4.59 5.01 5.32 5.13 5.53 6.05 6.45 6.06 6.22 5.98
Long-term liabilities 24.01% 24.48% 25.71% 26.40% 29.08% 29.05% 29.66% 30.34% 30.16% 31.60% 33.11% 33.15% 28.44% 28.56% 29.15% 28.66% 30.39% 30.94% 31.55% 31.76% 32.54% 32.29% 31.70%
Total liabilities 59.80% 60.83% 60.08% 60.76% 60.64% 61.56% 61.58% 61.96% 61.86% 62.35% 61.21% 62.04% 56.14% 54.31% 53.98% 53.28% 54.64% 54.70% 53.55% 53.72% 54.04% 54.20% 54.33%
Redeemable noncontrolling interest 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
Common stock 21.90 22.09 22.40 22.29 22.45 22.54 22.76 22.99 22.62 23.14 23.17 22.89 23.63 23.57 23.53 23.88 23.91 23.69 23.53 23.22 23.52 23.41 23.04
Treasury stock -15.13 -15.38 -15.73 -15.71 -15.97 -16.15 -16.42 -16.65 -16.47 -16.80 -16.87 -16.67 -11.19 -10.31 -9.97 -9.78 -9.57 -9.14 -8.46 -7.89 -7.81 -7.19 -6.71
Retained earnings 34.31 33.35 33.95 33.15 33.21 32.37 32.92 32.90 32.12 31.95 33.12 32.22 31.71 32.37 32.72 32.90 32.64 31.61 31.75 31.14 31.71 30.82 30.80
Unearned ESOP shares 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.01 -0.01 -0.01 -0.01 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.03 -0.03 -0.03
Accumulated other comprehensive loss -1.87 -1.90 -1.73 -1.59 -1.44 -1.43 -1.95 -2.31 -1.19 -1.69 -1.64 -1.49 -1.30 -0.93 -1.23 -1.27 -2.61 -1.84 -1.33 -1.19 -2.48 -2.24 -2.44
Shareowners’ equity 39.21% 38.15% 38.89% 38.14% 38.25% 37.33% 37.31% 36.94% 37.08% 36.60% 37.76% 36.94% 42.84% 44.70% 45.04% 45.72% 44.36% 44.30% 45.47% 45.27% 44.91% 44.77% 44.65%
Noncontrolling interest 0.97 1.00 1.01 1.09 1.09 1.08 1.09 1.08 1.04 1.03 1.01 1.00 1.00 0.97 0.96 0.97 0.98 0.97 0.96 0.99 1.03 1.01 0.99
Total equity 40.18% 39.15% 39.90% 39.22% 39.34% 38.41% 38.40% 38.02% 38.12% 37.63% 38.77% 37.94% 43.84% 45.67% 46.00% 46.69% 45.34% 45.27% 46.43% 46.26% 45.94% 45.78% 45.64%
Total liabilities, redeemable noncontrolling interest, and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-09-30), 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 capital structure exhibits a gradual shift toward higher leverage, with total liabilities increasing from 54.33% in early 2021 to 59.80% by late 2026. This trend is characterized by a significant expansion in current liabilities and a corresponding contraction in the relative weight of total equity within the balance sheet.

Current Liabilities and Operational Obligations
Current liabilities grew from 22.64% to 35.79% over the analyzed period. This rise is primarily driven by a steady increase in accounts payable, which rose from 5.72% to 10.08%, and contract liabilities, which climbed from 8.02% to 12.20%. The growth in contract liabilities suggests an increase in advance payments from customers or deferred revenue. Other accrued liabilities also saw an upward trend, moving from 6.34% to 8.38%.
Long-Term Debt and Pension Obligations
Long-term debt, excluding the current portion, remained relatively stable until a sharp spike in December 2023 to 26.17%, followed by a gradual decline to 17.83% by September 2026. Simultaneously, long-term debt currently due increased toward the end of the period, reaching 3.22%. A notable reduction is observed in future pension and postretirement benefit obligations, which declined consistently from 6.11% to 1.08%, significantly reducing the long-term liability burden.
Equity and Shareholder Capital
Total equity decreased from 45.64% to 40.18%, experiencing a significant drop in late 2023 to 37.94% before a partial recovery. This overall decline in equity was influenced by a substantial increase in treasury stock, which shifted from -6.71% to -15.13%, indicating aggressive share repurchase activity. This was partially offset by a steady increase in retained earnings, which grew from 30.80% to 34.31%, reflecting accumulated profitability over the period.

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