Stock Analysis on Net
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)

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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
Short-term borrowings 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 0.15 0.14 0.15 1.24
Accounts payable 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 5.33 5.01 4.45 7.86
Accrued employee compensation 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 1.85 0.00 0.00 0.00
Other accrued liabilities 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 6.49 8.42 9.02 7.92
Contract liabilities 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 7.95 7.52 7.43 4.57
Long-term debt currently due 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 0.34 0.80 0.80 0.98
Current liabilities 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% 22.11% 21.90% 21.85% 22.57%
Long-term debt, excluding currently due 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 19.13 19.24 19.32 30.97
Operating lease liabilities, non-current 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 0.93 1.02 1.07 1.52
Future pension and postretirement benefit obligations 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 6.38 9.04 9.27 2.31
Other long-term liabilities 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 5.88 5.63 5.82 12.51
Long-term liabilities 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% 32.33% 34.93% 35.48% 47.32%
Total liabilities 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% 54.44% 56.83% 57.33% 69.89%
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 0.07
Common stock 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 22.77 22.68 22.74 16.55
Treasury stock -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 -6.42 -6.41 -6.44 -23.40
Retained earnings 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 30.48 30.80 30.80 43.58
Unearned ESOP shares 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 -0.03 -0.03 -0.03 -0.04
Accumulated other comprehensive loss -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 -2.30 -4.93 -5.45 -8.45
Shareowners’ equity 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% 44.50% 42.11% 41.62% 28.24%
Noncontrolling interest 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 1.04 1.05 1.03 1.81
Total equity 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% 45.54% 43.15% 42.65% 30.05%
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%

Based on: 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).

Short-term borrowings
The proportion of short-term borrowings relative to total liabilities, redeemable noncontrolling interest, and equity remains consistently low and stable throughout the observed periods, generally under 1%. Fluctuations were minor with occasional small increases, but no significant upward or downward trend is apparent.
Accounts payable
Accounts payable as a percentage of the total fluctuated somewhat, starting at 7.86% in March 2020 and declining to around 4.45%-5.7% in subsequent quarters of 2020 and early 2021. From mid-2021 onwards, a steady increasing trend is apparent, reaching 8.15% by March 2025, indicating a growing reliance or accumulation of payables as part of current liabilities.
Accrued employee compensation
Data on accrued employee compensation starts from late 2020, showing some variability within a range close to 1.1%-1.8%. The values show moderate fluctuations over the quarters, without any clear direction towards significant increase or decrease.
Other accrued liabilities
This category fluctuates between roughly 6.0% and 10.5% throughout the period. Initially diminishing from near 9% in early 2020 to around 6% in 2021, it then increases gradually again reaching approximately 9.2% by early 2025, signaling a varying but appreciable component of liabilities over time.
Contract liabilities
Contract liabilities show a rising trend starting from approximately 4.6% in March 2020 to a level exceeding 11% by March 2025. This steady increase suggests a growing amount of deferred revenue or obligations related to contracts within total liabilities and equity.
Long-term debt currently due
The portion of long-term debt currently due remains relatively low, with some intermittent increases such as sharper rises in late 2023 and again towards late 2024 and early 2025, peaking at 1.89% in September 2024. Overall, it represents a small but variable part of the total financial structure.
Current liabilities
Current liabilities as a percentage of total liabilities, redeemable interest, and equity show a slight upward trajectory—from about 22.6% in early 2021 up to almost 32% by early 2025. This increase indicates a rising share of short-term obligations relative to the overall capital structure.
Long-term debt excluding currently due
The share of long-term debt (excluding amounts currently due) declines noticeably from nearly 31% in March 2020 to around 23% by early 2025. While there is some volatility, the overall pattern reflects a gradual reduction, possibly indicating repayments or reclassification of debt.
Operating lease liabilities, non-current
Operating lease liabilities as a percentage of the total remain fairly consistent, fluctuating slightly between 0.87% and 1.52%, showing no significant shift in lease obligations over the period.
Future pension and postretirement benefit obligations
A marked decline is visible in these obligations, dropping from a peak of over 9% in mid-2020 to approximately 1.25% by March 2025. This substantial decrease may reflect changes in actuarial assumptions, funding patterns, or benefit structures.
Other long-term liabilities
Other long-term liabilities steadily decline from about 12.5% in early 2020 to around 4.2% by early 2025. This gradual reduction suggests a decrease in miscellaneous long-term obligations or reclassification within liability categories.
Long-term liabilities (total)
The total long-term liabilities fall from around 47% in March 2020 to slightly below 30% by early 2025. This downward trend illustrates a considerable deleveraging or shift towards shorter-term financing or equity over the analyzed timeline.
Total liabilities
Total liabilities decrease from nearly 70% in March 2020 to about 62% by early 2025, with fluctuations in between. While liabilities remain a dominant part of the capital structure, the reduction points to a modest strengthening of equity financing or reduction in debt liabilities.
Redeemable noncontrolling interest
This interest remains negligible and stable at about 0.02% throughout the period, indicating minimal impact on the overall structure.
Common stock
The proportion of common stock shows slight growth from around 16.5% in early 2020 to consistently above 22% from 2022 onwards with minor fluctuations, reflecting sustained or slightly increased equity issuance or valuation.
Treasury stock
Treasury stock shows a trend towards increased negative balance, moving from around -6.4% in mid-2020 to approximately -16.4% by early 2025, indicating a significant increase in stock repurchases or holdings of treasury shares over time.
Retained earnings
Retained earnings maintain a generally stable percentage around 30%-33%, showing a consistent accumulation of earnings retained within the company without material erosion or growth.
Unearned ESOP shares
Unearned employee stock ownership plan (ESOP) shares remain minimal and negative, ranging approximately from -0.04% to near zero, suggesting limited fluctuations in this component.
Accumulated other comprehensive loss
This item improves notably, moving from a substantial negative near -8.5% in early 2020 to a much smaller negative close to -2% by 2025, reflecting a reduction in accumulated losses recognized in other comprehensive income elements.
Shareowners’ equity
Shareowners’ equity as a percentage of total liabilities, redeemable noncontrolling interest, and equity increases from about 28% in early 2020 to a peak near 46% in 2022 before decreasing to approximately 37% by early 2025, indicative of volatility in equity financing or valuation within the period.
Noncontrolling interest
Noncontrolling interest remains a small and stable part of the total, hovering around 1% to 1.1%, with very minor increases over the period, reflecting limited changes in noncontrolling ownership stakes.
Total equity
Total equity follows a similar pattern to shareowners’ equity, increasing sharply from about 30% in early 2020 to near 47% in 2022, followed by a decline to around 38% by early 2025, highlighting shifts between equity and liabilities in the firm's capital structure.