Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
RTX Corp., solvency ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | RTX Corp. debt to equity ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
| Debt to equity (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | RTX Corp. debt to equity ratio (including operating lease liability) deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | RTX Corp. debt to capital ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
| Debt to capital (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | RTX Corp. debt to capital ratio (including operating lease liability) deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | RTX Corp. debt to assets ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
| Debt to assets (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | RTX Corp. debt to assets ratio (including operating lease liability) improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | RTX Corp. financial leverage ratio increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Debt to Equity
RTX Corp., debt to equity calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Short-term borrowings | 189) | 1,170) | 1,076) | 224) | 625) | 2,195) | 113) | 140) | 134) | 206) | 196) | 234) | 247) | 228) | 243) | 1,725) | 2,364) | 1,327) | 1,139) | 1,111) | ||||||
| Long-term debt currently due | 1,283) | 1,389) | 1,554) | 1,545) | 595) | 193) | 26) | 24) | 24) | 274) | 1,370) | 1,369) | 550) | 1,307) | 1,297) | 1,362) | 3,496) | 5,495) | 6,202) | 3,071) | ||||||
| Long-term debt, excluding currently due | 42,355) | 32,701) | 32,723) | 32,717) | 30,694) | 31,059) | 31,274) | 31,308) | 31,327) | 30,768) | 29,916) | 29,935) | 31,026) | 31,246) | 31,210) | 43,232) | 37,788) | 37,782) | 37,910) | 41,004) | ||||||
| Total debt | 43,827) | 35,260) | 35,353) | 34,486) | 31,914) | 33,447) | 31,413) | 31,472) | 31,485) | 31,248) | 31,482) | 31,538) | 31,823) | 32,781) | 32,750) | 46,319) | 43,648) | 44,604) | 45,251) | 45,186) | ||||||
| Shareowners’ equity | 59,798) | 69,596) | 72,480) | 72,795) | 72,632) | 70,187) | 70,441) | 72,462) | 73,068) | 71,308) | 71,115) | 71,710) | 72,163) | 68,379) | 67,225) | 39,411) | 41,774) | 40,468) | 40,754) | 39,738) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to equity1 | 0.73 | 0.51 | 0.49 | 0.47 | 0.44 | 0.48 | 0.45 | 0.43 | 0.43 | 0.44 | 0.44 | 0.44 | 0.44 | 0.48 | 0.49 | 1.18 | 1.04 | 1.10 | 1.11 | 1.14 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 117.95 | ||||||
| Caterpillar Inc. | 1.94 | 1.81 | 2.07 | 2.04 | 2.33 | 2.34 | 2.35 | 2.20 | 2.29 | 2.21 | 2.23 | 2.30 | 2.42 | 2.55 | 2.81 | 2.61 | 2.58 | 2.54 | 2.45 | 2.32 | ||||||
| Cummins Inc. | 0.76 | 0.70 | 0.74 | 0.81 | 0.88 | 0.97 | 0.51 | 0.49 | 0.49 | 0.49 | 0.50 | 0.50 | 0.52 | 0.53 | 0.53 | 0.47 | 0.32 | 0.34 | 0.27 | 0.31 | ||||||
| Eaton Corp. plc | 0.49 | 0.50 | 0.52 | 0.50 | 0.51 | 0.56 | 0.59 | 0.58 | 0.52 | 0.57 | 0.79 | 0.68 | 0.54 | 0.57 | 0.58 | 0.59 | 0.52 | 0.51 | 0.50 | 0.47 | ||||||
| General Electric Co. | 0.77 | 0.73 | 0.70 | 0.71 | 0.89 | 0.97 | 0.94 | 0.86 | 0.87 | 1.68 | 1.90 | 2.12 | 2.11 | 2.39 | 2.43 | 2.41 | 3.21 | 3.34 | 2.95 | 3.06 | ||||||
| Honeywell International Inc. | 1.29 | 1.18 | 1.24 | 1.13 | 1.17 | 0.96 | 1.09 | 1.05 | 1.06 | 1.19 | 1.19 | 1.19 | 1.28 | 1.23 | 1.22 | 0.91 | 0.87 | 1.03 | 0.91 | 0.86 | ||||||
| Lockheed Martin Corp. | 2.55 | 1.88 | 1.90 | 1.62 | 1.68 | 0.96 | 1.02 | 1.16 | 1.07 | 1.21 | 1.87 | 1.93 | 2.02 | 2.56 | 3.38 | 3.68 | 4.05 | 3.48 | 4.75 | 5.65 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Debt to equity = Total debt ÷ Shareowners’ equity
= 43,827 ÷ 59,798 = 0.73
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | RTX Corp. debt to equity ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Debt to Equity (including Operating Lease Liability)
RTX Corp., debt to equity (including operating lease liability) calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Short-term borrowings | 189) | 1,170) | 1,076) | 224) | 625) | 2,195) | 113) | 140) | 134) | 206) | 196) | 234) | 247) | 228) | 243) | 1,725) | 2,364) | 1,327) | 1,139) | 1,111) | ||||||
| Long-term debt currently due | 1,283) | 1,389) | 1,554) | 1,545) | 595) | 193) | 26) | 24) | 24) | 274) | 1,370) | 1,369) | 550) | 1,307) | 1,297) | 1,362) | 3,496) | 5,495) | 6,202) | 3,071) | ||||||
| Long-term debt, excluding currently due | 42,355) | 32,701) | 32,723) | 32,717) | 30,694) | 31,059) | 31,274) | 31,308) | 31,327) | 30,768) | 29,916) | 29,935) | 31,026) | 31,246) | 31,210) | 43,232) | 37,788) | 37,782) | 37,910) | 41,004) | ||||||
| Total debt | 43,827) | 35,260) | 35,353) | 34,486) | 31,914) | 33,447) | 31,413) | 31,472) | 31,485) | 31,248) | 31,482) | 31,538) | 31,823) | 32,781) | 32,750) | 46,319) | 43,648) | 44,604) | 45,251) | 45,186) | ||||||
| Operating lease liabilities, non-current | 1,412) | 1,523) | 1,570) | 1,624) | 1,586) | 1,539) | 1,593) | 1,627) | 1,657) | 1,541) | 1,563) | 1,552) | 1,516) | 1,651) | 1,723) | 2,126) | 2,144) | 2,105) | 2,258) | 2,020) | ||||||
| Total debt (including operating lease liability) | 45,239) | 36,783) | 36,923) | 36,110) | 33,500) | 34,986) | 33,006) | 33,099) | 33,142) | 32,789) | 33,045) | 33,090) | 33,339) | 34,432) | 34,473) | 48,445) | 45,792) | 46,709) | 47,509) | 47,206) | ||||||
| Shareowners’ equity | 59,798) | 69,596) | 72,480) | 72,795) | 72,632) | 70,187) | 70,441) | 72,462) | 73,068) | 71,308) | 71,115) | 71,710) | 72,163) | 68,379) | 67,225) | 39,411) | 41,774) | 40,468) | 40,754) | 39,738) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to equity (including operating lease liability)1 | 0.76 | 0.53 | 0.51 | 0.50 | 0.46 | 0.50 | 0.47 | 0.46 | 0.45 | 0.46 | 0.46 | 0.46 | 0.46 | 0.50 | 0.51 | 1.23 | 1.10 | 1.15 | 1.17 | 1.19 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||
| Eaton Corp. plc | 0.51 | 0.52 | 0.54 | 0.53 | 0.53 | 0.59 | 0.62 | 0.60 | 0.54 | 0.59 | 0.81 | 0.70 | 0.56 | 0.59 | 0.61 | 0.62 | 0.54 | 0.53 | 0.51 | 0.48 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareowners’ equity
= 45,239 ÷ 59,798 = 0.76
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | RTX Corp. debt to equity ratio (including operating lease liability) deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Debt to Capital
RTX Corp., debt to capital calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Short-term borrowings | 189) | 1,170) | 1,076) | 224) | 625) | 2,195) | 113) | 140) | 134) | 206) | 196) | 234) | 247) | 228) | 243) | 1,725) | 2,364) | 1,327) | 1,139) | 1,111) | ||||||
| Long-term debt currently due | 1,283) | 1,389) | 1,554) | 1,545) | 595) | 193) | 26) | 24) | 24) | 274) | 1,370) | 1,369) | 550) | 1,307) | 1,297) | 1,362) | 3,496) | 5,495) | 6,202) | 3,071) | ||||||
| Long-term debt, excluding currently due | 42,355) | 32,701) | 32,723) | 32,717) | 30,694) | 31,059) | 31,274) | 31,308) | 31,327) | 30,768) | 29,916) | 29,935) | 31,026) | 31,246) | 31,210) | 43,232) | 37,788) | 37,782) | 37,910) | 41,004) | ||||||
| Total debt | 43,827) | 35,260) | 35,353) | 34,486) | 31,914) | 33,447) | 31,413) | 31,472) | 31,485) | 31,248) | 31,482) | 31,538) | 31,823) | 32,781) | 32,750) | 46,319) | 43,648) | 44,604) | 45,251) | 45,186) | ||||||
| Shareowners’ equity | 59,798) | 69,596) | 72,480) | 72,795) | 72,632) | 70,187) | 70,441) | 72,462) | 73,068) | 71,308) | 71,115) | 71,710) | 72,163) | 68,379) | 67,225) | 39,411) | 41,774) | 40,468) | 40,754) | 39,738) | ||||||
| Total capital | 103,625) | 104,856) | 107,833) | 107,281) | 104,546) | 103,634) | 101,854) | 103,934) | 104,553) | 102,556) | 102,597) | 103,248) | 103,986) | 101,160) | 99,975) | 85,730) | 85,422) | 85,072) | 86,005) | 84,924) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to capital1 | 0.42 | 0.34 | 0.33 | 0.32 | 0.31 | 0.32 | 0.31 | 0.30 | 0.30 | 0.30 | 0.31 | 0.31 | 0.31 | 0.32 | 0.33 | 0.54 | 0.51 | 0.52 | 0.53 | 0.53 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | 1.49 | 1.47 | 1.42 | 1.39 | 1.39 | 1.45 | 1.35 | 1.36 | 1.35 | 1.30 | 1.36 | 1.40 | 1.40 | 1.24 | 1.23 | 1.33 | 1.46 | 1.20 | 1.38 | 0.99 | ||||||
| Caterpillar Inc. | 0.66 | 0.64 | 0.67 | 0.67 | 0.70 | 0.70 | 0.70 | 0.69 | 0.70 | 0.69 | 0.69 | 0.70 | 0.71 | 0.72 | 0.74 | 0.72 | 0.72 | 0.72 | 0.71 | 0.70 | ||||||
| Cummins Inc. | 0.43 | 0.41 | 0.43 | 0.45 | 0.47 | 0.49 | 0.34 | 0.33 | 0.33 | 0.33 | 0.33 | 0.34 | 0.34 | 0.35 | 0.35 | 0.32 | 0.24 | 0.25 | 0.21 | 0.24 | ||||||
| Eaton Corp. plc | 0.33 | 0.33 | 0.34 | 0.34 | 0.34 | 0.36 | 0.37 | 0.37 | 0.34 | 0.36 | 0.44 | 0.40 | 0.35 | 0.36 | 0.37 | 0.37 | 0.34 | 0.34 | 0.33 | 0.32 | ||||||
| General Electric Co. | 0.43 | 0.42 | 0.41 | 0.41 | 0.47 | 0.49 | 0.48 | 0.46 | 0.47 | 0.63 | 0.65 | 0.68 | 0.68 | 0.70 | 0.71 | 0.71 | 0.76 | 0.77 | 0.75 | 0.75 | ||||||
| Honeywell International Inc. | 0.56 | 0.54 | 0.55 | 0.53 | 0.54 | 0.49 | 0.52 | 0.51 | 0.51 | 0.54 | 0.54 | 0.54 | 0.56 | 0.55 | 0.55 | 0.48 | 0.46 | 0.51 | 0.48 | 0.46 | ||||||
| Lockheed Martin Corp. | 0.72 | 0.65 | 0.66 | 0.62 | 0.63 | 0.49 | 0.50 | 0.54 | 0.52 | 0.55 | 0.65 | 0.66 | 0.67 | 0.72 | 0.77 | 0.79 | 0.80 | 0.78 | 0.83 | 0.85 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 43,827 ÷ 103,625 = 0.42
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | RTX Corp. debt to capital ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Debt to Capital (including Operating Lease Liability)
RTX Corp., debt to capital (including operating lease liability) calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Short-term borrowings | 189) | 1,170) | 1,076) | 224) | 625) | 2,195) | 113) | 140) | 134) | 206) | 196) | 234) | 247) | 228) | 243) | 1,725) | 2,364) | 1,327) | 1,139) | 1,111) | ||||||
| Long-term debt currently due | 1,283) | 1,389) | 1,554) | 1,545) | 595) | 193) | 26) | 24) | 24) | 274) | 1,370) | 1,369) | 550) | 1,307) | 1,297) | 1,362) | 3,496) | 5,495) | 6,202) | 3,071) | ||||||
| Long-term debt, excluding currently due | 42,355) | 32,701) | 32,723) | 32,717) | 30,694) | 31,059) | 31,274) | 31,308) | 31,327) | 30,768) | 29,916) | 29,935) | 31,026) | 31,246) | 31,210) | 43,232) | 37,788) | 37,782) | 37,910) | 41,004) | ||||||
| Total debt | 43,827) | 35,260) | 35,353) | 34,486) | 31,914) | 33,447) | 31,413) | 31,472) | 31,485) | 31,248) | 31,482) | 31,538) | 31,823) | 32,781) | 32,750) | 46,319) | 43,648) | 44,604) | 45,251) | 45,186) | ||||||
| Operating lease liabilities, non-current | 1,412) | 1,523) | 1,570) | 1,624) | 1,586) | 1,539) | 1,593) | 1,627) | 1,657) | 1,541) | 1,563) | 1,552) | 1,516) | 1,651) | 1,723) | 2,126) | 2,144) | 2,105) | 2,258) | 2,020) | ||||||
| Total debt (including operating lease liability) | 45,239) | 36,783) | 36,923) | 36,110) | 33,500) | 34,986) | 33,006) | 33,099) | 33,142) | 32,789) | 33,045) | 33,090) | 33,339) | 34,432) | 34,473) | 48,445) | 45,792) | 46,709) | 47,509) | 47,206) | ||||||
| Shareowners’ equity | 59,798) | 69,596) | 72,480) | 72,795) | 72,632) | 70,187) | 70,441) | 72,462) | 73,068) | 71,308) | 71,115) | 71,710) | 72,163) | 68,379) | 67,225) | 39,411) | 41,774) | 40,468) | 40,754) | 39,738) | ||||||
| Total capital (including operating lease liability) | 105,037) | 106,379) | 109,403) | 108,905) | 106,132) | 105,173) | 103,447) | 105,561) | 106,210) | 104,097) | 104,160) | 104,800) | 105,502) | 102,811) | 101,698) | 87,856) | 87,566) | 87,177) | 88,263) | 86,944) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to capital (including operating lease liability)1 | 0.43 | 0.35 | 0.34 | 0.33 | 0.32 | 0.33 | 0.32 | 0.31 | 0.31 | 0.31 | 0.32 | 0.32 | 0.32 | 0.33 | 0.34 | 0.55 | 0.52 | 0.54 | 0.54 | 0.54 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||
| Eaton Corp. plc | 0.34 | 0.34 | 0.35 | 0.35 | 0.35 | 0.37 | 0.38 | 0.37 | 0.35 | 0.37 | 0.45 | 0.41 | 0.36 | 0.37 | 0.38 | 0.38 | 0.35 | 0.35 | 0.34 | 0.33 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 45,239 ÷ 105,037 = 0.43
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | RTX Corp. debt to capital ratio (including operating lease liability) deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Debt to Assets
RTX Corp., debt to assets calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Short-term borrowings | 189) | 1,170) | 1,076) | 224) | 625) | 2,195) | 113) | 140) | 134) | 206) | 196) | 234) | 247) | 228) | 243) | 1,725) | 2,364) | 1,327) | 1,139) | 1,111) | ||||||
| Long-term debt currently due | 1,283) | 1,389) | 1,554) | 1,545) | 595) | 193) | 26) | 24) | 24) | 274) | 1,370) | 1,369) | 550) | 1,307) | 1,297) | 1,362) | 3,496) | 5,495) | 6,202) | 3,071) | ||||||
| Long-term debt, excluding currently due | 42,355) | 32,701) | 32,723) | 32,717) | 30,694) | 31,059) | 31,274) | 31,308) | 31,327) | 30,768) | 29,916) | 29,935) | 31,026) | 31,246) | 31,210) | 43,232) | 37,788) | 37,782) | 37,910) | 41,004) | ||||||
| Total debt | 43,827) | 35,260) | 35,353) | 34,486) | 31,914) | 33,447) | 31,413) | 31,472) | 31,485) | 31,248) | 31,482) | 31,538) | 31,823) | 32,781) | 32,750) | 46,319) | 43,648) | 44,604) | 45,251) | 45,186) | ||||||
| Total assets | 161,869) | 162,443) | 162,161) | 161,636) | 158,864) | 158,225) | 159,017) | 159,366) | 161,404) | 158,772) | 158,838) | 160,608) | 162,153) | 162,399) | 161,517) | 139,572) | 139,716) | 139,009) | 138,990) | 137,380) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to assets1 | 0.27 | 0.22 | 0.22 | 0.21 | 0.20 | 0.21 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.33 | 0.31 | 0.32 | 0.33 | 0.33 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | 0.38 | 0.39 | 0.39 | 0.41 | 0.42 | 0.42 | 0.42 | 0.43 | 0.42 | 0.43 | 0.43 | 0.42 | 0.42 | 0.38 | 0.38 | 0.27 | 0.20 | 0.19 | 0.15 | 0.12 | ||||||
| Caterpillar Inc. | 0.43 | 0.43 | 0.44 | 0.44 | 0.45 | 0.45 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.47 | 0.47 | 0.50 | 0.50 | 0.49 | 0.48 | 0.49 | 0.46 | 0.45 | ||||||
| Cummins Inc. | 0.21 | 0.23 | 0.24 | 0.25 | 0.26 | 0.27 | 0.18 | 0.17 | 0.18 | 0.17 | 0.17 | 0.18 | 0.18 | 0.19 | 0.19 | 0.17 | 0.12 | 0.13 | 0.11 | 0.12 | ||||||
| Eaton Corp. plc | 0.24 | 0.25 | 0.25 | 0.25 | 0.25 | 0.26 | 0.28 | 0.27 | 0.25 | 0.27 | 0.33 | 0.30 | 0.25 | 0.26 | 0.27 | 0.27 | 0.25 | 0.25 | 0.25 | 0.24 | ||||||
| General Electric Co. | 0.13 | 0.13 | 0.13 | 0.14 | 0.17 | 0.17 | 0.18 | 0.18 | 0.18 | 0.27 | 0.27 | 0.29 | 0.30 | 0.31 | 0.32 | 0.32 | 0.34 | 0.35 | 0.34 | 0.34 | ||||||
| Honeywell International Inc. | 0.33 | 0.33 | 0.34 | 0.32 | 0.31 | 0.28 | 0.31 | 0.31 | 0.30 | 0.33 | 0.33 | 0.34 | 0.35 | 0.35 | 0.35 | 0.28 | 0.27 | 0.31 | 0.28 | 0.28 | ||||||
| Lockheed Martin Corp. | 0.33 | 0.31 | 0.31 | 0.29 | 0.29 | 0.22 | 0.22 | 0.23 | 0.23 | 0.23 | 0.23 | 0.24 | 0.24 | 0.25 | 0.26 | 0.26 | 0.27 | 0.28 | 0.28 | 0.29 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 43,827 ÷ 161,869 = 0.27
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | RTX Corp. debt to assets ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
Debt to Assets (including Operating Lease Liability)
RTX Corp., debt to assets (including operating lease liability) calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Short-term borrowings | 189) | 1,170) | 1,076) | 224) | 625) | 2,195) | 113) | 140) | 134) | 206) | 196) | 234) | 247) | 228) | 243) | 1,725) | 2,364) | 1,327) | 1,139) | 1,111) | ||||||
| Long-term debt currently due | 1,283) | 1,389) | 1,554) | 1,545) | 595) | 193) | 26) | 24) | 24) | 274) | 1,370) | 1,369) | 550) | 1,307) | 1,297) | 1,362) | 3,496) | 5,495) | 6,202) | 3,071) | ||||||
| Long-term debt, excluding currently due | 42,355) | 32,701) | 32,723) | 32,717) | 30,694) | 31,059) | 31,274) | 31,308) | 31,327) | 30,768) | 29,916) | 29,935) | 31,026) | 31,246) | 31,210) | 43,232) | 37,788) | 37,782) | 37,910) | 41,004) | ||||||
| Total debt | 43,827) | 35,260) | 35,353) | 34,486) | 31,914) | 33,447) | 31,413) | 31,472) | 31,485) | 31,248) | 31,482) | 31,538) | 31,823) | 32,781) | 32,750) | 46,319) | 43,648) | 44,604) | 45,251) | 45,186) | ||||||
| Operating lease liabilities, non-current | 1,412) | 1,523) | 1,570) | 1,624) | 1,586) | 1,539) | 1,593) | 1,627) | 1,657) | 1,541) | 1,563) | 1,552) | 1,516) | 1,651) | 1,723) | 2,126) | 2,144) | 2,105) | 2,258) | 2,020) | ||||||
| Total debt (including operating lease liability) | 45,239) | 36,783) | 36,923) | 36,110) | 33,500) | 34,986) | 33,006) | 33,099) | 33,142) | 32,789) | 33,045) | 33,090) | 33,339) | 34,432) | 34,473) | 48,445) | 45,792) | 46,709) | 47,509) | 47,206) | ||||||
| Total assets | 161,869) | 162,443) | 162,161) | 161,636) | 158,864) | 158,225) | 159,017) | 159,366) | 161,404) | 158,772) | 158,838) | 160,608) | 162,153) | 162,399) | 161,517) | 139,572) | 139,716) | 139,009) | 138,990) | 137,380) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to assets (including operating lease liability)1 | 0.28 | 0.23 | 0.23 | 0.22 | 0.21 | 0.22 | 0.21 | 0.21 | 0.21 | 0.21 | 0.21 | 0.21 | 0.21 | 0.21 | 0.21 | 0.35 | 0.33 | 0.34 | 0.34 | 0.34 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||
| Eaton Corp. plc | 0.26 | 0.26 | 0.27 | 0.26 | 0.26 | 0.28 | 0.29 | 0.28 | 0.26 | 0.28 | 0.34 | 0.31 | 0.26 | 0.28 | 0.28 | 0.28 | 0.26 | 0.26 | 0.26 | 0.25 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 45,239 ÷ 161,869 = 0.28
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | RTX Corp. debt to assets ratio (including operating lease liability) improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
Financial Leverage
RTX Corp., financial leverage calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Total assets | 161,869) | 162,443) | 162,161) | 161,636) | 158,864) | 158,225) | 159,017) | 159,366) | 161,404) | 158,772) | 158,838) | 160,608) | 162,153) | 162,399) | 161,517) | 139,572) | 139,716) | 139,009) | 138,990) | 137,380) | ||||||
| Shareowners’ equity | 59,798) | 69,596) | 72,480) | 72,795) | 72,632) | 70,187) | 70,441) | 72,462) | 73,068) | 71,308) | 71,115) | 71,710) | 72,163) | 68,379) | 67,225) | 39,411) | 41,774) | 40,468) | 40,754) | 39,738) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Financial leverage1 | 2.71 | 2.33 | 2.24 | 2.22 | 2.19 | 2.25 | 2.26 | 2.20 | 2.21 | 2.23 | 2.23 | 2.24 | 2.25 | 2.37 | 2.40 | 3.54 | 3.34 | 3.44 | 3.41 | 3.46 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 961.67 | ||||||
| Caterpillar Inc. | 4.49 | 4.24 | 4.68 | 4.61 | 5.16 | 5.19 | 5.16 | 4.82 | 5.02 | 4.85 | 4.85 | 4.87 | 5.11 | 5.13 | 5.57 | 5.35 | 5.38 | 5.22 | 5.34 | 5.10 | ||||||
| Cummins Inc. | 3.62 | 3.01 | 3.07 | 3.27 | 3.38 | 3.55 | 2.80 | 2.86 | 2.80 | 2.85 | 2.87 | 2.83 | 2.81 | 2.80 | 2.82 | 2.84 | 2.63 | 2.61 | 2.45 | 2.54 | ||||||
| Eaton Corp. plc | 2.02 | 2.03 | 2.05 | 2.04 | 2.06 | 2.14 | 2.15 | 2.12 | 2.07 | 2.14 | 2.39 | 2.27 | 2.13 | 2.14 | 2.14 | 2.17 | 2.04 | 2.01 | 1.98 | 1.95 | ||||||
| General Electric Co. | 5.96 | 5.47 | 5.23 | 5.20 | 5.16 | 5.75 | 5.35 | 4.92 | 4.93 | 6.33 | 7.09 | 7.30 | 7.13 | 7.64 | 7.62 | 7.43 | 9.40 | 9.42 | 8.71 | 8.96 | ||||||
| Honeywell International Inc. | 3.88 | 3.56 | 3.60 | 3.54 | 3.73 | 3.40 | 3.55 | 3.45 | 3.47 | 3.60 | 3.56 | 3.53 | 3.68 | 3.51 | 3.50 | 3.25 | 3.17 | 3.32 | 3.23 | 3.12 | ||||||
| Lockheed Martin Corp. | 7.67 | 6.11 | 6.17 | 5.66 | 5.71 | 4.35 | 4.53 | 5.15 | 4.64 | 5.38 | 7.99 | 8.15 | 8.43 | 10.25 | 13.22 | 14.29 | 15.20 | 12.66 | 16.79 | 19.34 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Financial leverage = Total assets ÷ Shareowners’ equity
= 161,869 ÷ 59,798 = 2.71
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | RTX Corp. financial leverage ratio increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |