RTX Corporation

The accounting snapshot dated 2026-09-06 shows operating cash exceeded reported profit, supporting the view that earnings were backed by cash. FY2025 debt of $39.51 billion against $7.44 billion of cash remains the main constraint.^3,4

Diluted average shares rose from 1.3436 billion in FY2024 to 1.3564 billion in FY2025, while stock compensation was $519 million. Do not assume automatic net retirement.

The accepted evidence supports cash generation and debt analysis, but not a like-for-like return-on-capital trend.

A comparable spread is not stated. WACC was 7.2035% as of 2026-09-09, computed and retrieved 2026-09-09T10:09:54Z.

FY2025 revenue was $88.60 billion and operating income was $9.30 billion, filed 2026-02-06 and retrieved 2026-09-09T10:08:09Z.

FY2027 estimates begin from a stronger reported base.

The snapshot compares operating cash with reported profit and shows cash generation was higher.

FY2025 capital spending and debt service should rank ahead of discretionary cash uses; the evidence does not establish how much cash remains after those obligations.

The favorable cycle requires product and service sales to support the FY2027 revenue estimate. Meeting that estimate would confirm forecast delivery through the dated estimate window, without proving growth beyond it.

Reported geographic breadth may not cushion a broad slowdown. The United States and Europe were material disclosed geographies, but the disclosure does not show how regional weakness would affect sales, profit margins or cash.

Maintain the position while trailing operating cash stays above $0.80 per $1.00 of profit. Add only when cash exceeds profit, FY2027 analyst estimates as of 2026-09-09 are met and debt declines. Pause additions below $1.00 and reassess Buy at $0.80 or less.