Common-Size Balance Sheet: Assets
Quarterly Data
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- Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Net Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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RTX Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 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).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets exhibited a general downward trend from early 2020 through mid-2025. Initially above 5%, this ratio declined steadily, reaching around 3% or lower in most recent quarters. A temporary increase occurred at the end of 2020 and early 2021, but overall liquidity as represented by cash reserves decreased relative to total assets over time.
- Accounts receivable, net
- Accounts receivable as a percentage of total assets displayed fluctuations, but an overall gradual increase is noted across the reported periods. Starting near 9.4% in early 2020, the ratio dropped during mid-2020, then stabilized around 6%, with a noticeable rising trend observed from early 2023 onward, reaching over 7% by mid-2025, indicating an increase in credit extended to customers relative to asset base.
- Contract assets, net
- Contract assets as a share of total assets showed a consistent upward trajectory throughout the timeline. Beginning at approximately 3.3%, this ratio doubled by mid-2025, reaching close to 10%. This suggests increased recognition of revenues or contract-related rights on the balance sheet, potentially reflecting growth in contract-based business activities.
- Inventory, net
- Inventory relative to total assets decreased slightly in 2020, but then steadily rose over the following years. Starting from around 8.2%, it dropped below 6% during mid-2020 but climbed back to approximately 8% or higher by mid-2025. This signals an accumulation or buildup of inventory assets over time.
- Other assets, current
- Current other assets fluctuated moderately, with values increasing overall. From a low of about 1.2% in early 2020, the ratio rose gradually to about 4.7% by mid-2025, indicating expansion in miscellaneous current assets proportionate to overall assets.
- Current assets
- Total current assets as a percentage of total assets remained relatively stable near the mid-20% range during 2020 and 2021, then displayed a rising trend from early 2022 onwards, growing from approximately 25.5% to nearly 34% by mid-2025. This implies an increasing allocation toward liquid and short-term assets in the asset structure.
- Customer financing assets
- Customer financing assets steadily diminished as a percentage of total assets over the period, falling from about 2.5% in early 2020 to around 1.2% by mid-2025, reflecting a decreasing exposure or reduced emphasis on financing extended directly to customers.
- Future income tax benefits
- These benefits were present only in early quarters of 2020, at less than 1.1% of total assets, after which no data were reported, suggesting a possible reclassification or write-off.
- Fixed assets and accumulated depreciation
- Fixed assets showed steady growth from about 18.3% early in 2020 to over 20% by mid-2025, indicating ongoing investment or capital expenditure. Accumulated depreciation correspondingly increased in magnitude (negative values), deepening from approximately -9.4% to -10.7%, reflecting aging or usage of these assets. Net fixed assets remained fairly stable around 9%, suggesting replacement of depreciated assets with new capital expenditures.
- Operating lease right-of-use assets
- These assets declined slightly from nearly 1.9% in early 2020 down to around 1.1-1.2% by mid-2025, indicating a moderate reduction in recognized lease assets over the period.
- Goodwill
- Goodwill as a proportion of total assets generally declined from over 34% in early 2020 to approximately 31.6% by mid-2025, suggesting some impairment or revaluation adjustments, or slower growth relative to asset expansion.
- Intangible assets, net
- Net intangible assets steadily decreased from around 18.3% to just above 19% over the timeline. After an initial jump to over 26% in mid-2020, a consistent downward trend followed, reducing their share as part of total assets.
- Other assets
- Other long-term assets showed volatility; beginning around 5.4% in early 2020, declining to under 2% soon after, then recovering to fluctuating values near 3-4% in later periods. This indicates variable levels of other long-term asset holdings.
- Long-term assets
- Long-term assets as a portion of total assets were stable near 72-74% during the first two years, then exhibited a gradual decline to about 66% by mid-2025. This reflects a slow shift towards relatively more current assets over time.
- Overall Asset Composition
- The data demonstrate a gradual rebalancing of assets across time, characterized by increasing current assets and contract-related assets at the expense of long-term and goodwill assets. Fixed assets investment is growing steadily, while liquidity in terms of cash reduces, and receivables and inventory proportions increase moderately. The company appears to be shifting its asset base to support more current operations and contract-generated revenues.