Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

RTX Corp., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash and cash equivalents	7,435)	5,578)	6,587)	6,220)	7,832)
Accounts receivable, net	14,701)	10,976)	10,838)	9,108)	9,661)
Contract assets, net	17,092)	14,570)	12,139)	11,534)	11,361)
Inventory, net	13,364)	12,768)	11,777)	10,617)	9,178)
Other assets, current	7,740)	7,241)	7,076)	4,964)	4,018)
Current assets	60,332)	51,133)	48,417)	42,443)	42,050)
Customer financing assets	2,132)	2,246)	2,392)	2,603)	2,848)
Fixed assets, net	16,868)	16,089)	15,748)	15,170)	14,972)
Operating lease right-of-use assets	1,887)	1,864)	1,638)	1,829)	1,958)
Goodwill	53,343)	52,789)	53,699)	53,840)	54,436)
Intangible assets, net	31,845)	33,443)	35,399)	36,823)	38,516)
Other assets	4,672)	5,297)	4,576)	6,156)	6,624)
Long-term assets	110,747)	111,728)	113,452)	116,421)	119,354)
Total assets	171,079)	162,861)	161,869)	158,864)	161,404)

Based on: 10-K (reporting date: 2025-12-31), 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).

Total assets experienced fluctuations over the five-year period, beginning at US$161.404 billion in 2021, decreasing to US$158.864 billion in 2022, and then increasing to US$171.079 billion in 2025. This indicates a period of initial contraction followed by sustained growth. A significant portion of the asset base is comprised of long-term assets, consistently representing over 70% of the total.

Current Assets: Current assets demonstrated a consistent upward trend, increasing from US$42.050 billion in 2021 to US$60.332 billion in 2025. This growth was driven by increases in accounts receivable, contract assets, inventory, and other current assets. Accounts receivable exhibited a notable increase, rising from US$9.661 billion to US$14.701 billion over the period. Contract assets also showed substantial growth, moving from US$11.361 billion to US$17.092 billion. Inventory levels also increased steadily, from US$9.178 billion to US$13.364 billion. Cash and cash equivalents were more volatile, decreasing initially before rising to US$7.435 billion in 2025.
Long-Term Assets: Long-term assets generally decreased from US$119.354 billion in 2021 to US$110.747 billion in 2025, although the rate of decline slowed in the later years. Goodwill and intangible assets constitute the largest components of long-term assets. Goodwill experienced a slight decrease, from US$54.436 billion to US$53.343 billion. Intangible assets showed a more pronounced decline, decreasing from US$38.516 billion to US$31.845 billion. Fixed assets, net, increased gradually from US$14.972 billion to US$16.868 billion. Customer financing assets consistently decreased over the period, from US$2.848 billion to US$2.132 billion.

The composition of the asset base suggests a shift towards more liquid assets, as evidenced by the growth in current assets as a percentage of total assets. While long-term assets remain dominant, the decreasing trend in goodwill and intangible assets warrants further investigation to understand the underlying reasons, such as potential impairments or strategic divestitures. The increase in accounts receivable and contract assets may indicate increased sales or changes in revenue recognition policies.

RTX Corp. (NYSE:RTX)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items