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Other financials

Income statement

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Revenue$24.7B+14.5%
Operating income$2.8B+31.0%
Net income$2.1B+29.1%
EPS (diluted)$1.57+28.7%

Balance sheet

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Cash & equivalents$8.4B+73.9%
Total debt$38.9B-10.9%
Total equity$66.4B+6.4%
Total assets$173.97B+4.1%

Cash flow

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Operating cash flow$3.5B+674%
CapEx$669.0M+26.2%
Free cash flow$2.9B

Valuation

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Market cap$299.62B+43.7%
Enterprise value$330.08B+33.5%
P/E38.7×+4.8×
P/S3.2×+0.7×

Profitability

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Gross margin48.1%
Operating margin11.2%+1.3pp
Net margin8.3%+0.9pp
FCF margin12.2%+8.3pp

Returns & leverage

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Return on equity12%+1.9pp
Debt / equity0.6×-0.1×
Current ratio0.0×

Where this comes from

Reported directly by Raytheon Technologies in its filing.

Tagged under the XBRL concept us-gaap:PensionAndOtherPostretirementBenefitsExpenseReversalOfExpenseNoncash.

The source filing: Raytheon Technologies’s 10-K, filed February 6, 2026.

Filed
Feb 6, 2026, 4:33 PM EST
Fiscal year
FY2025
Accession
0000101829-26-000006
(dollars in millions)202520242023
Depreciation and amortization4,3784,3644,211
Deferred income tax provision (benefit)789(47)(402)
Stock compensation cost519437425
Net periodic pension and other postretirement income(1,011)(1,326)(1,555)
Share-based 401(k) matching contributions573353261
Gain on sale of Cybersecurity, Intelligence and Services (CIS) business, net of transaction costs (Note 2)(415)
Change in:
Accounts receivable(3,235)(175)(1,805)

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Raytheon Technologies's pension expense?
Raytheon Technologies (RTX) reported pension expense of -$55M in Q4 2025.
How has Raytheon Technologies's pension expense changed year-over-year?
Raytheon Technologies's pension expense increased by 83.5% year-over-year, from -$334M to -$55M.
What is the long-term trend for Raytheon Technologies's pension expense?
Over 4 years (2021 to 2025), Raytheon Technologies's pension expense has grown at a -8.0% compound annual growth rate (CAGR), from -$1.41B to -$1.01B.
What does pension expense mean?
Non-cash pension and postretirement benefit expense that exceeds or falls short of cash contributions to the plans.

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