Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Profitability Ratios (Summary)
RTX Corp., profitability ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Gross Profit Margin
- The gross profit margin demonstrates a positive trajectory starting from 15.08% in March 2020, rising steadily to peak near 20.53% by June 2023. After this peak, a decline is observed, with the margin decreasing to 16.38% at the end of 2024. Towards the latest periods, a recovery is noted, bringing the margin back up to around 20.05% by mid-2025. Overall, gross profitability shows resilience with periods of growth interrupted by temporary declines.
- Operating Profit Margin
- Operating profitability witnessed a significant upward trend after initial negative margins in early 2020, marked at -3.34% in March 2020. Starting in June 2020, this margin improved consistently, reaching a high of approximately 8.73% by mid-2023. A dip occurs at the end of 2024, with the margin reducing to near 3.94%, but then it recovers strongly, concluding at nearly 9.95% by mid-2025. This pattern suggests improved operational efficiency over time with temporary setbacks.
- Net Profit Margin
- The net profit margin followed a pattern similar to operating margins. It began with negative values in 2020 (around -6.22% in March 2020), improving to positive territory by mid-2021. The margin peaked around 8.08% in mid-2023, then declined toward the end of 2024, reaching approximately 3.12%. Subsequently, net margins rebounded to roughly 7.35% by mid-2025. This indicates a gradual recovery in bottom-line profitability with some fluctuations.
- Return on Equity (ROE)
- ROE moves in close correlation with net profits, starting from negative territory in early 2020 (-4.88%) and progressively increasing to above 7.6% by mid-2023. A decline is seen towards the end of 2024 (dropping to approximately 3.83%), followed by a strong rebound reaching almost 9.85% by mid-2025. This reflects overall improvement in shareholder value generation after initial losses and mid-term fluctuations.
- Return on Assets (ROA)
- The ROA indicates a consistent, though more moderate, improvement relative to the other profitability ratios. From an initial negative figure (-2.17% in early 2020), it gradually rises to about 3.43% in mid-2023. A subsequent decrease occurs near the end of 2024 to 1.4%, after which ROA climbs again reaching about 3.68% by mid-2025. This trend suggests more efficient utilization of assets over the reported period with a period of reduced performance late in the timeline.
Return on Sales
Return on Investment
Gross Profit Margin
RTX Corp., gross profit margin calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Gross margin | |||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Gross profit margin1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Gross profit margin = 100
× (Gross marginQ2 2025
+ Gross marginQ1 2025
+ Gross marginQ4 2024
+ Gross marginQ3 2024)
÷ (Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Sales Trend
- Net sales exhibited an overall upward trajectory from the beginning of the series in March 2020 through June 2025. Starting at 11,360 million US dollars in March 2020, net sales steadily increased with minor fluctuations, reaching a peak of 21,623 million in June 2025. Periods such as December 2023 and March 2024 showed some volatility with a notable dip to 13,464 million and 19,927 million respectively, before rebounding in subsequent quarters. This pattern indicates general growth in sales but with intermittent quarter-to-quarter variability.
- Gross Margin Behavior
- The gross margin displayed a rising trend overall but with greater variability compared to net sales. It began at 2,788 million US dollars in March 2020 and generally increased, peaking at 4,376 million by June 2025. There was a significant drop to 714 million in September 2023, which stands out as an anomaly relative to the surrounding data points that range mostly between approximately 3,000 and 4,000 million. Aside from this sharp dip, the gross margin tends to follow net sales movements but with less stability quarter over quarter.
- Gross Profit Margin Percentage Analysis
- The gross profit margin percentage, available from March 2021 onwards, shows a pattern of gradual increase until mid-2023, where it rises from approximately 15% to stabilize around 20%. After peaking near 20.5% in mid-2023, it experiences a dip to around 16–17% during late 2023 and early 2024, coinciding with volatility in the gross margin and net sales values in the same period. Towards mid-2025, the gross profit margin percentage recovers to just over 20%, indicating improved profitability relative to sales in the latter part of the timeframe.
- Insights and Relationships
- The overall data indicates growth in both sales and gross profit in absolute terms over the five-year period, despite occasional fluctuations in quarterly performance. The sharp decline in gross margin during September 2023 diverges from the stable trend in net sales and may suggest an unusual expense spike, accounting variation, or operational disruption during that quarter. Correspondingly, gross profit margin percentage dropped during this period, signifying reduced cost efficiency or pricing pressures.
- Following this dip, a recovery is observed, with both gross margin and gross profit margin percentage returning to higher levels by the end of the series. This recovery implies corrective actions or normalization of conditions post the anomalous quarter. The positive trend in gross profit margin percentage toward the later periods also suggests that RTX Corp. managed to enhance or maintain profitability relative to sales, despite the sales volatility at various points.
Operating Profit Margin
RTX Corp., operating profit margin calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Operating profit (loss) | |||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Operating profit margin1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Operating profit margin = 100
× (Operating profit (loss)Q2 2025
+ Operating profit (loss)Q1 2025
+ Operating profit (loss)Q4 2024
+ Operating profit (loss)Q3 2024)
÷ (Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The financial data reveals considerable volatility in operating profit (loss) throughout the analyzed quarters, with significant fluctuations between positive and negative values. In the early periods, particularly around mid-2020, there is a pronounced operating loss, reaching as low as -3760 million US dollars, followed by a recovery trend leading to sustained positive operating profits for several consecutive quarters. The operating profit peaks around the end of 2022 and early 2023, before experiencing another notable decline with a loss near -1396 million US dollars in late 2023. Subsequently, the company appears to recover again, achieving operating profits exceeding 2000 million US dollars in several recent quarters.
Net sales demonstrate an overall upward trend, increasing from approximately 11,360 million US dollars in the first quarter to figures exceeding 21,000 million US dollars in the most recent quarters. Despite some quarter-to-quarter variability, the general pattern indicates growth in revenues across the observed timeline. This increase in net sales is consistent, with no prolonged periods of decline, reflecting a likely expansion in market reach or product demand.
The operating profit margin shows a trajectory from negative percentages in early 2020 into positive territory from late 2020 onwards. Initially, margins were negative, indicating losses relative to sales, but thereafter margins steadily improve, reaching values near or above 8 percent in many recent quarters. Although there is a dip in margin around late 2023, corresponding with the operating loss during that quarter, the margin recovers quickly and continues to improve into the subsequent periods, reaching nearly 10 percent by the end of the dataset.
- Operating Profit (Loss)
- Exhibits high volatility with substantial swings from significant losses to strong profits. Early 2020 marked by large negative spike, recovering towards consistent positive profits in subsequent periods with intermittent declines.
- Net Sales
- Show a clear upward trend overall, more than doubling from the initial quarter over five years, indicating sustained revenue growth despite some quarterly inconsistencies.
- Operating Profit Margin
- Transitions from negative values to consistently positive margins, reflecting improving operational efficiency or cost management relative to sales revenue. Margins fluctuate but trend upward, reaching levels near 10% by recent quarters.
In summary, the data indicates a recovery and strengthening in profitability after an initial period of instability and losses, supported by consistent revenue growth. The upward trajectory in operating profit margins suggests improved operational performance over time, although periodic setbacks in profitability suggest ongoing challenges in maintaining stable earnings consistently every quarter.
Net Profit Margin
RTX Corp., net profit margin calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to common shareowners | |||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Net profit margin1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Net profit margin = 100
× (Net income (loss) attributable to common shareownersQ2 2025
+ Net income (loss) attributable to common shareownersQ1 2025
+ Net income (loss) attributable to common shareownersQ4 2024
+ Net income (loss) attributable to common shareownersQ3 2024)
÷ (Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The financial data reveals distinct fluctuations and recurring trends over the examined periods. Net income attributable to common shareowners shows significant variability, with notable losses and gains throughout the timeline. Initially, there is a steep decline reaching a substantial loss in the second quarter of 2020, followed by a recovery and consistent positive net income throughout 2021 and 2022. However, the data for the third quarter of 2023 highlights a negative net income once again, before rebounding in the subsequent quarters. The latest periods show a steadier increase in net income, suggesting a return to profitability and growth.
Net sales demonstrate a general upward trend with periodic seasonal fluctuations. Starting from the first quarter of 2020, net sales increase considerably through 2021 and 2022, indicating robust revenue growth. The data from 2023 shows some volatility, including a drop in the third quarter, but the overall trend from late 2023 to mid-2025 is positive, with net sales reaching new peaks by the end of the data series. This pattern implies strong market demand or effective sales strategies that have enhanced revenue over time.
The net profit margin mirrors the variability seen in net income but remains positive and improving for most periods after mid-2020. Margins were negative in late 2020, reflecting operational challenges or cost pressures. From 2021 onward, profit margins consistently improve, peaking in 2023 before experiencing some decline in mid to late 2024. Despite this dip, margins rise again by mid-2025. The fluctuations suggest periods of both enhanced operational efficiency and challenges, but the overall margin trend is upward, indicative of better profitability management.
- Net Income
- Exhibits significant volatility with large losses in early 2020, recovery through 2021 and 2022, a setback in 2023 Q3, and strong growth resuming through mid-2025.
- Net Sales
- Shows a consistent upward trajectory with seasonal and periodic fluctuations, reaching the highest levels in late 2024 and mid-2025.
- Net Profit Margin
- Transitions from negative in late 2020 to sustained positive values post-2021, peaking during 2023, with some reversals in late 2024 and recovery thereafter.
Overall, the company demonstrates resilience with improved profitability and sales expansion after initial disturbances, but the intermittent dips suggest ongoing operational or market challenges that require management attention to maintain the positive momentum.
Return on Equity (ROE)
RTX Corp., ROE calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to common shareowners | |||||||||||||||||||||||||||||
| Shareowners’ equity | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROE1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
ROE = 100
× (Net income (loss) attributable to common shareownersQ2 2025
+ Net income (loss) attributable to common shareownersQ1 2025
+ Net income (loss) attributable to common shareownersQ4 2024
+ Net income (loss) attributable to common shareownersQ3 2024)
÷ Shareowners’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data presents a comprehensive view of the company's performance from March 2020 to June 2025, highlighting net income attributable to common shareowners, shareowners' equity, and return on equity (ROE).
- Net Income (Loss) Attributable to Common Shareowners (in US$ millions)
- The net income exhibits significant volatility in the early periods, with a notable large loss of -3,835 million in June 2020 following a smaller loss in March 2020. From September 2020 onward, the company returns to positive net income figures consistently until mid-2023, peaking around 1,426 million in December 2022 and March 2023. A sharp negative dip occurs again in September 2023, registering -984 million, which interrupts what was otherwise a generally positive trend. Subsequent quarters show recovery and generally increasing net income, reaching 1,657 million by December 2025, demonstrating resilience and a positive earnings trajectory after mid-2023 dips.
- Shareowners' Equity (in US$ millions)
- Shareowners' equity starts at 39,411 million in March 2020 and surges significantly to a peak around 73,068 million by December 2021. Following this peak, there is a gradual decline through 2022 and 2023, with the lowest observed value of approximately 59,798 million in March 2024. From then onwards to June 2025, equity shows moderate recovery and stabilization around the 62,000 million range. The initial sharp increase and subsequent consolidation suggest capital inflows or retained earnings growth during the earlier period, followed by some distribution, losses, or other equity adjustments contributing to the decline.
- Return on Equity (ROE, %)
- ROE values are unavailable in the earliest quarters but become consistently reported from September 2020 onward. It begins with negative returns of -4.88% and -3.74% in late 2020, reflecting the net losses during that time. Positive ROE emerges from March 2021, steadily increasing from 3.07% to above 7% throughout 2022 and early 2023, peaking at 7.94% in June 2025. A notable dip occurs in late 2023 and early 2024 to around 3.83% but recovers strongly thereafter. The overall trend indicates improving profitability and efficient utilization of equity capital over the long term, with temporary setbacks likely linked to the periods of net income volatility.
In summary, the company experienced initial significant losses and volatility in net income in early 2020, followed by a period of recovery and growth in earnings and return on equity through 2021 and 2022. Shareowners’ equity expanded sharply early on, then contracted modestly before stabilizing in the most recent periods. Despite some setbacks in late 2023, the financial metrics indicate improved operational performance and profitability stability leading into 2025.
Return on Assets (ROA)
RTX Corp., ROA calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to common shareowners | |||||||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROA1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||||||
| GE Aerospace | |||||||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
ROA = 100
× (Net income (loss) attributable to common shareownersQ2 2025
+ Net income (loss) attributable to common shareownersQ1 2025
+ Net income (loss) attributable to common shareownersQ4 2024
+ Net income (loss) attributable to common shareownersQ3 2024)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial data over the specified periods reveals several notable trends and fluctuations in key financial metrics.
- Net Income (Loss) Attributable to Common Shareowners
- The net income figures exhibit significant volatility throughout the analyzed quarters. An initial sharp loss occurred in the quarter ending June 30, 2020, reflecting a substantial negative value. Subsequently, there was a recovery trend with the net income turning positive from September 30, 2020, and generally increasing through mid-2023. However, a notable dip back into negative territory is observed in the third quarter of 2023. Following this decline, the net income rebounded again, reaching new highs towards the end of 2024 and into the first half of 2025. Overall, the pattern is characterized by a recovery from initial losses, intermittent declines, and a persistent uptrend in the later periods.
- Total Assets
- Total assets have demonstrated relative stability with mild fluctuations over the entire timeline. Starting at approximately 139.6 billion US dollars, assets rose sharply early in the period, peaking around 162 billion US dollars between mid-2020 and the end of 2021. From 2022 onwards, asset levels remained close to this range with slight variability but showed a gentle upward trajectory, reaching about 167 billion US dollars in mid-2025. This trend suggests a generally stable asset base with gradual growth.
- Return on Assets (ROA)
- Return on Assets (ROA) data is incomplete for the earliest quarters but becomes available starting from September 30, 2020. Initially, ROA was negative, reflecting losses, but it turned positive in the subsequent quarters. There was a consistent improvement in ROA through 2021 and 2022, moving from around 1.4% to approximately 3.68% by the end of 2024. Some minor fluctuations are seen, especially around 2023 when ROA dipped to about 1.4%, coinciding with the negative net income during the same period. The general trend indicates improved efficiency in asset utilization, with increasing profitability relative to assets over time.
In summary, the financial data reflect a recovery from a period of substantial losses in 2020, with gradual and sustained improvements in net income and asset returns. While there are intermittent fluctuations, particularly in net income, the overall financial health appears to be strengthening, supported by a stable and slightly growing asset base and enhanced returns on assets.