Price to Book Value (P/BV)
since 2005
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Calculation
RTX Corp., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Shareowners’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 3, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 5, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 6, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 5, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 6, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of RTX Corp. Annual Report.
- Share Price Trend
- The share price exhibited considerable volatility over the analyzed period. Initially, it increased from $56.71 in early 2006 to a peak of $120.11 by early 2015. However, this peak was followed by a sharp decline to $72.49 in early 2021. Afterward, a recovery phase occurred with the share price rising to $129.92 by early 2025. This oscillation pattern indicates periods of both investor optimism and pessimism.
- Book Value per Share (BVPS) Trend
- Book value per share showed a generally upward trajectory throughout the period. Starting at $16.73 in early 2006, it increased steadily with minor fluctuations, reaching a peak of $49.58 by early 2023 before a slight decrease to $45.16 in early 2025. This trend suggests consistent growth in the company's net asset value on a per-share basis.
- Price-to-Book Value (P/BV) Ratio Dynamics
- The P/BV ratio experienced significant variation. It started at 3.39 in 2006, fluctuated between roughly 2.5 and 3.9 over most of the period, and notably dropped to its lowest value of 1.53 in early 2021. Following this low, the ratio recovered somewhat to 2.88 by early 2025. Such movements indicate changing market perceptions of the company's value relative to its book value, with the particularly low ratio in 2021 reflecting possible undervaluation or market concerns during that time.
- Interrelation of Metrics
- Periods of share price increase generally coincided with increases in BVPS, reflecting underlying growth in net assets. However, the P/BV ratio fluctuation suggests that share price movements were not solely driven by fundamentals but also by market sentiment. The pronounced decline in share price and P/BV around 2020-2021, despite relatively high BVPS, underscores this observation. The subsequent partial recovery in share price and P/BV indicates restored market confidence.
Comparison to Competitors
RTX Corp., P/BV, long-term trends, comparison to competitors
| RTX Corp. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | |
|---|---|---|---|---|---|---|---|
| Feb 3, 2025 | |||||||
| Feb 5, 2024 | |||||||
| Feb 7, 2023 | |||||||
| Feb 11, 2022 | |||||||
| Feb 8, 2021 | |||||||
| Feb 6, 2020 | |||||||
| Feb 7, 2019 | |||||||
| Feb 9, 2018 | |||||||
| Feb 9, 2017 | |||||||
| Feb 11, 2016 | |||||||
| Feb 5, 2015 | |||||||
| Feb 6, 2014 | |||||||
| Feb 7, 2013 | |||||||
| Feb 9, 2012 | |||||||
| Feb 10, 2011 | |||||||
| Feb 11, 2010 | |||||||
| Feb 11, 2009 | |||||||
| Feb 7, 2008 | |||||||
| Feb 8, 2007 | |||||||
| Feb 9, 2006 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
RTX Corp., P/BV, long-term trends, comparison to sector (capital goods)
| RTX Corp. | Capital Goods | |
|---|---|---|
| Feb 3, 2025 | ||
| Feb 5, 2024 | ||
| Feb 7, 2023 | ||
| Feb 11, 2022 | ||
| Feb 8, 2021 | ||
| Feb 6, 2020 | ||
| Feb 7, 2019 | ||
| Feb 9, 2018 | ||
| Feb 9, 2017 | ||
| Feb 11, 2016 | ||
| Feb 5, 2015 | ||
| Feb 6, 2014 | ||
| Feb 7, 2013 | ||
| Feb 9, 2012 | ||
| Feb 10, 2011 | ||
| Feb 11, 2010 | ||
| Feb 11, 2009 | ||
| Feb 7, 2008 | ||
| Feb 8, 2007 | ||
| Feb 9, 2006 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
RTX Corp., P/BV, long-term trends, comparison to industry (industrials)
| RTX Corp. | Industrials | |
|---|---|---|
| Feb 3, 2025 | ||
| Feb 5, 2024 | ||
| Feb 7, 2023 | ||
| Feb 11, 2022 | ||
| Feb 8, 2021 | ||
| Feb 6, 2020 | ||
| Feb 7, 2019 | ||
| Feb 9, 2018 | ||
| Feb 9, 2017 | ||
| Feb 11, 2016 | ||
| Feb 5, 2015 | ||
| Feb 6, 2014 | ||
| Feb 7, 2013 | ||
| Feb 9, 2012 | ||
| Feb 10, 2011 | ||
| Feb 11, 2010 | ||
| Feb 11, 2009 | ||
| Feb 7, 2008 | ||
| Feb 8, 2007 | ||
| Feb 9, 2006 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).