What is Raytheon Technologies's unbilled balances?

Raytheon Technologies (RTX) reported unbilled balances of $411.00M in Q4 2025.

How has Raytheon Technologies's unbilled balances changed year-over-year?

Raytheon Technologies's unbilled balances increased by 9.9% year-over-year, from $374.00M to $411.00M.

What is the long-term trend for Raytheon Technologies's unbilled balances?

Over 5 years (2020 to 2025), Raytheon Technologies's unbilled balances has grown at a -54.2% compound annual growth rate (CAGR), from $20.34B to $411.00M.

What does unbilled balances mean?

Revenue earned from work done but not yet invoiced to the client.

Other

Unbilled balances

Raytheon Technologies Unbilled balances increased by 9.9% to $411.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 9.9%, from $374.00M to $411.00M. Over 5 years (FY 2020 to FY 2025), Unbilled balances shows a downward trend with a -54.2% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.

Analysis

StatementBalance Sheet Statement

SectionOther

CategoryEfficiency

SignalLower is better

VolatilityModerate

First reportedQ4 2014

Last reportedQ4 2025Feb 6, 2026

How to read this metric

An increasing trend may signal delays in the billing process or a buildup of working capital that could impact cash flow.

Detailed definition

This represents revenue recognized for work performed on long-term contracts that has not yet been billed to the custome...

Peer comparison

Common in engineering, construction, and defense sectors where long-term contracts are standard.

Metric ID: other_unbilled_contracts_receivable

Historical Data

5 periods

	Q4 '21	Q4 '22	Q4 '23	Q4 '24	Q4 '25
Value	$23.65B	$23.91B	$26.48B	$374.00M	$411.00M
QoQ Change	—	+1.1%	+10.8%	-98.6%	+9.9%
YoY Change	—	+1.1%	+10.8%	-98.6%	+9.9%

Range$374.00M – $26.48B

CAGR-98.3%

Avg YoY Growth-19.2%

Median YoY Growth+5.5%

Unbilled balances at Other Companies

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Frequently Asked Questions

What is Raytheon Technologies's unbilled balances?: Raytheon Technologies (RTX) reported unbilled balances of $411.00M in Q4 2025.
How has Raytheon Technologies's unbilled balances changed year-over-year?: Raytheon Technologies's unbilled balances increased by 9.9% year-over-year, from $374.00M to $411.00M.
What is the long-term trend for Raytheon Technologies's unbilled balances?: Over 5 years (2020 to 2025), Raytheon Technologies's unbilled balances has grown at a -54.2% compound annual growth rate (CAGR), from $20.34B to $411.00M.
What does unbilled balances mean?: Revenue earned from work done but not yet invoiced to the client.