Stock Analysis on Net

RTX Corp. (NYSE:RTX)

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

Long-term Activity Ratios (Summary)

RTX Corp., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net fixed asset turnover 4.38 4.42 4.30 3.78 6.04
Net fixed asset turnover (including operating lease, right-of-use asset) 3.96 3.95 3.80 3.36 5.02
Total asset turnover 0.43 0.42 0.40 0.35 0.55
Equity turnover 1.15 0.92 0.88 0.78 1.84

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. RTX Corp. net fixed asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). RTX Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. RTX Corp. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. RTX Corp. equity turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Net Fixed Asset Turnover

RTX Corp., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 68,920 67,074 64,388 56,587 77,046
Fixed assets, net 15,748 15,170 14,972 14,962 12,755
Long-term Activity Ratio
Net fixed asset turnover1 4.38 4.42 4.30 3.78 6.04
Benchmarks
Net Fixed Asset Turnover, Competitors2
Boeing Co. 7.30 6.31 5.70 4.92 6.12
Caterpillar Inc. 5.04 4.70 3.99 3.15 3.93
Cummins Inc. 5.45 5.08 5.43 4.66 5.55
General Electric Co. 6.06 5.96 5.47 1.75 2.02
Honeywell International Inc. 6.48 6.48 6.18 5.86 6.89
Lockheed Martin Corp. 8.07 8.27 8.83 9.07 9.07
Net Fixed Asset Turnover, Sector
Capital Goods 5.90 5.70 5.42 3.52 4.22
Net Fixed Asset Turnover, Industry
Industrials 3.17 3.22 3.04 2.41 2.76

Based on: 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).

1 2023 Calculation
Net fixed asset turnover = Net sales ÷ Fixed assets, net
= 68,920 ÷ 15,748 = 4.38

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. RTX Corp. net fixed asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

RTX Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 68,920 67,074 64,388 56,587 77,046
 
Fixed assets, net 15,748 15,170 14,972 14,962 12,755
Operating lease right-of-use assets 1,638 1,829 1,958 1,880 2,599
Fixed assets, net (including operating lease, right-of-use asset) 17,386 16,999 16,930 16,842 15,354
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 3.96 3.95 3.80 3.36 5.02
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Boeing Co. 6.30 5.55 5.04 4.45 5.59
Caterpillar Inc. 4.83 4.49 3.79 3.00 3.75
Cummins Inc. 5.05 4.67 4.94 4.22 4.97
General Electric Co. 5.17 5.08 4.55 1.63 1.89
Honeywell International Inc. 5.50 5.58 5.28 5.15 6.12
Lockheed Martin Corp. 7.14 7.27 7.54 7.96 7.88
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Capital Goods 5.28 5.08 4.77 3.23 3.85
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Industrials 2.73 2.78 2.62 2.13 2.57

Based on: 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).

1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Fixed assets, net (including operating lease, right-of-use asset)
= 68,920 ÷ 17,386 = 3.96

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). RTX Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023.

Total Asset Turnover

RTX Corp., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 68,920 67,074 64,388 56,587 77,046
Total assets 161,869 158,864 161,404 162,153 139,716
Long-term Activity Ratio
Total asset turnover1 0.43 0.42 0.40 0.35 0.55
Benchmarks
Total Asset Turnover, Competitors2
Boeing Co. 0.57 0.49 0.45 0.38 0.57
Caterpillar Inc. 0.73 0.69 0.58 0.50 0.65
Cummins Inc. 1.06 0.93 1.01 0.88 1.19
General Electric Co. 0.40 0.39 0.36 0.29 0.33
Honeywell International Inc. 0.60 0.57 0.53 0.51 0.63
Lockheed Martin Corp. 1.29 1.25 1.32 1.29 1.26
Total Asset Turnover, Sector
Capital Goods 0.59 0.55 0.52 0.44 0.55
Total Asset Turnover, Industry
Industrials 0.68 0.67 0.61 0.52 0.62

Based on: 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).

1 2023 Calculation
Total asset turnover = Net sales ÷ Total assets
= 68,920 ÷ 161,869 = 0.43

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. RTX Corp. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Equity Turnover

RTX Corp., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 68,920 67,074 64,388 56,587 77,046
Shareowners’ equity 59,798 72,632 73,068 72,163 41,774
Long-term Activity Ratio
Equity turnover1 1.15 0.92 0.88 0.78 1.84
Benchmarks
Equity Turnover, Competitors2
Boeing Co.
Caterpillar Inc. 3.28 3.57 2.92 2.55 3.48
Cummins Inc. 3.85 3.13 2.83 2.46 3.14
General Electric Co. 2.36 2.02 1.76 2.05 3.09
Honeywell International Inc. 2.31 2.12 1.85 1.86 1.98
Lockheed Martin Corp. 9.89 7.12 6.12 10.87 19.13
Equity Turnover, Sector
Capital Goods 3.42 2.73 2.43 2.53 3.92
Equity Turnover, Industry
Industrials 3.44 3.09 2.69 2.87 3.73

Based on: 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).

1 2023 Calculation
Equity turnover = Net sales ÷ Shareowners’ equity
= 68,920 ÷ 59,798 = 1.15

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. RTX Corp. equity turnover ratio improved from 2021 to 2022 and from 2022 to 2023.