Stock Analysis on Net

RTX Corp. (NYSE:RTX)

$24.99

Price to Book Value (P/BV)
since 2005

Microsoft Excel

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Calculation

RTX Corp., P/BV, long-term trends, calculation

Microsoft Excel

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

Microsoft Excel

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)


Comparison to Industry (Industrials)