Stock Analysis on Net
Stock Analysis on Net

RTX Corp. (NYSE:RTX)

$24.99

Return on Equity (ROE)
since 2005

Microsoft Excel

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Calculation

RTX Corp., ROE, long-term trends, calculation

Microsoft Excel
ROE = 100 × Net income (loss) attributable to common shareowners1 ÷ Shareowners’ equity1
Dec 31, 2024 = 100 × ÷
Dec 31, 2023 = 100 × ÷
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Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
Dec 31, 2018 = 100 × ÷
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Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

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$ in millions

The data exhibits significant variations in net income attributable to common shareowners over the 20-year period. Initially, net income demonstrated consistent growth, climbing from 3,069 million USD in 2005 to 7,608 million USD in 2015, reflecting an overall positive performance trend. However, a notable decline is observed in 2016 with net income dropping to 5,055 million USD, and a further pronounced loss of 3,519 million USD recorded in 2020, indicating a substantial negative event or operational challenge during that year. Post-2020, a recovery trend is visible as net income returned to positive figures, reaching 4,774 million USD by 2024, though it remains below early peaks.

Shareowners’ equity shows a generally upward trajectory across the period. Starting at 16,991 million USD in 2005, equity grew steadily, with some fluctuations, to reach a peak of 73,068 million USD in 2021. This suggests an accumulation of retained earnings and potentially capital injections or effective asset growth. However, the period following 2021 reveals a downward trend, with equity decreasing to 59,798 million USD in 2023 before a slight uptick to 60,156 million USD in 2024. This decline could be related to the financial stresses indicated by the net income loss in 2020 and moderate returns thereafter.

Return on equity (ROE) is characterized by strong initial performance, peaking at 29.46% in 2008, followed by fluctuations but generally remaining above 15% until 2015. After 2015, ROE experienced a steady decline, dropping to negative territory in 2020 at -4.88%, consistent with the net loss reported that year. Subsequent years show only modest recovery, with ROE remaining below 10% through 2024. This suggests diminished profitability relative to equity and possibly increased capital base that is not fully generating proportional income in recent years.

Net Income Trend
Strong growth through the first decade, with peak performance around 2015.
Significant decline and loss in 2020, followed by partial recovery.
Volatility in recent years, with income remaining below historical highs.
Shareholders’ Equity Trend
Steady increase overall, reaching a high in 2021.
Decline after 2021, suggesting potential capital reduction or losses.
Return on Equity (ROE) Trend
High and stable ROE in early years, indicating efficient use of equity.
Sharp deterioration around 2020, turning negative.
Modest recovery post-2020 but still significantly lower than peak levels.

In summary, the financial data reveals a company that had sustained profitability and equity growth up to the mid-2010s, followed by increased volatility, a major income loss in 2020, and less effective utilization of shareholders' equity since then. The decline in ROE coupled with falling equity after 2021 suggests possible strategic, operational, or market challenges influencing recent performance.

Comparison to Competitors

RTX Corp., ROE, long-term trends, comparison to competitors

Microsoft Excel
RTX Corp. Boeing Co. Caterpillar Inc. Eaton Corp. plc GE Aerospace Honeywell International Inc. Lockheed Martin Corp.
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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)

RTX Corp., ROE, long-term trends, comparison to sector (capital goods)

Microsoft Excel
RTX Corp. Capital Goods
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Dec 31, 2005

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 Industry (Industrials)

RTX Corp., ROE, long-term trends, comparison to industry (industrials)

Microsoft Excel
RTX Corp. Industrials
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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).