Financials RTX Corporation Sao Paulo

Equities

RYTT34

BRRYTTBDR003

Aerospace & Defense

Market Closed - Sao Paulo Other stock markets 12:30:39 30/05/2024 am IST			5-day change	1st Jan Change
90.96 ^BRL	+4.19%		-0.23%	+36.76%

28/05	RTX's Collins Aerospace Invests $200 Million in Carbon Brake Manufacturing Site in Washington	MT
28/05	RTX Unit Collins Aerospace Receives Europe Certification for Cessna Flight Deck Upgrade	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,27,850	1,07,863	1,29,019	1,48,530	1,20,714	1,40,061	-	-
Enterprise Value (EV) ¹	1,64,120	1,30,884	1,52,648	1,74,224	1,57,954	1,74,630	1,71,982	1,69,586
P/E ratio	23.4 x	-27.6 x	33.6 x	28.8 x	37.7 x	24.5 x	21.5 x	18.8 x
Yield	1.96%	3.02%	2.33%	2.14%	-	2.31%	2.51%	2.72%
Capitalization / Revenue	1.66 x	1.7 x	2 x	2.21 x	1.75 x	1.77 x	1.67 x	1.58 x
EV / Revenue	2.13 x	2.06 x	2.37 x	2.6 x	2.29 x	2.21 x	2.05 x	1.91 x
EV / EBITDA	11.5 x	12.8 x	12.9 x	14.6 x	12.1 x	13.8 x	12.8 x	11.7 x
EV / FCF	24.8 x	51.5 x	30.5 x	35.7 x	28.9 x	30.5 x	24.9 x	20.4 x
FCF Yield	4.04%	1.94%	3.28%	2.8%	3.46%	3.28%	4.02%	4.91%
Price to Book	3.07 x	1.51 x	1.76 x	2.04 x	-	2.22 x	2.11 x	2.02 x
Nbr of stocks (in thousands)	8,53,698	15,08,369	14,99,176	14,71,758	14,34,680	13,27,345	-	-
Reference price ²	149.8	71.51	86.06	100.9	84.14	105.5	105.5	105.5
Announcement Date	28/01/20	26/01/21	25/01/22	24/01/23	23/01/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	77,046	63,437	64,388	67,074	68,920	78,954	83,709	88,645
EBITDA ¹	14,291	10,204	11,820	11,931	13,106	12,634	13,459	14,484
EBIT ¹	10,508	5,796	7,263	7,823	8,895	9,702	10,960	12,086
Operating Margin	13.64%	9.14%	11.28%	11.66%	12.91%	12.29%	13.09%	13.63%
Earnings before Tax (EBT) ¹	8,243	-2,353	4,931	6,027	3,836	7,319	8,415	9,254
Net income ¹	5,537	-3,519	3,864	5,197	3,195	5,989	6,715	7,464
Net margin	7.19%	-5.55%	6%	7.75%	4.64%	7.59%	8.02%	8.42%
EPS ²	6.410	-2.590	2.560	3.500	2.230	4.312	4.918	5.601
Free Cash Flow ¹	6,627	2,539	5,008	4,880	5,468	5,734	6,908	8,320
FCF margin	8.6%	4%	7.78%	7.28%	7.93%	7.26%	8.25%	9.39%
FCF Conversion (EBITDA)	46.37%	24.88%	42.37%	40.9%	41.72%	45.39%	51.33%	57.44%
FCF Conversion (Net income)	119.69%	-	129.61%	93.9%	171.14%	95.75%	102.87%	111.47%
Dividend per Share ²	2.940	2.160	2.005	2.160	-	2.441	2.645	2.868
Announcement Date	28/01/20	26/01/21	25/01/22	24/01/23	23/01/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	17,044	15,716	16,314	16,951	18,093	17,214	18,315	13,464	19,927	19,305	19,263	19,844	20,745	20,266	20,490
EBITDA ¹	3,005	2,912	2,881	3,033	3,105	3,152	3,252	3,302	3,330	3,351	3,017	3,144	3,298	3,237	3,229
EBIT ¹	1,861	1,898	1,882	1,986	2,057	2,118	2,208	2,228	2,271	2,292	2,336	2,484	2,611	2,584	2,691
Operating Margin	10.92%	12.08%	11.54%	11.72%	11.37%	12.3%	12.06%	16.55%	11.4%	11.87%	12.12%	12.52%	12.59%	12.75%	13.13%
Earnings before Tax (EBT) ¹	867	1,242	1,498	1,637	1,650	1,781	1,572	-1,322	1,735	1,851	1,753	1,783	1,945	2,003	2,122
Net income ¹	686	1,084	1,304	1,387	1,422	1,426	1,327	-984	1,426	1,709	1,384	1,396	1,405	1,549	1,712
Net margin	4.02%	6.9%	7.99%	8.18%	7.86%	8.28%	7.25%	-7.31%	7.16%	8.85%	7.19%	7.04%	6.77%	7.64%	8.36%
EPS ²	0.4600	0.7200	0.8800	0.9400	0.9600	0.9700	0.9100	-0.6800	1.050	1.280	1.025	1.045	1.051	1.118	1.233
Dividend per Share ²	0.5100	0.5100	1.100	0.5500	-	0.5500	-	-	-	0.5900	0.6198	0.6198	0.6178	0.6297	0.6702
Announcement Date	25/01/22	26/04/22	26/07/22	25/10/22	24/01/23	25/04/23	25/07/23	24/10/23	23/01/24	23/04/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	36,270	23,021	23,629	25,694	37,240	34,568	31,921	29,525
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.538 x	2.256 x	1.999 x	2.154 x	2.841 x	2.736 x	2.372 x	2.038 x
Free Cash Flow ¹	6,627	2,539	5,008	4,880	5,468	5,734	6,908	8,320
ROE (net income / shareholders' equity)	17.8%	7.26%	5.32%	7.13%	11%	12%	12.5%	13.7%
ROA (Net income/ Total Assets)	5.21%	2.74%	2.39%	3.25%	1.99%	4.11%	4.42%	4.67%
Assets ¹	1,06,274	-1,28,346	1,61,775	1,60,134	1,60,367	1,45,720	1,51,982	1,59,978
Book Value Per Share ²	48.90	47.50	49.00	49.50	-	47.40	50.10	52.30
Cash Flow per Share ²	10.30	3.190	4.730	4.820	5.490	6.940	7.750	8.160
Capex ¹	2,256	1,795	2,134	2,288	2,415	2,537	2,650	2,603
Capex / Sales	2.93%	2.83%	3.31%	3.41%	3.5%	3.21%	3.17%	2.94%
Announcement Date	28/01/20	26/01/21	25/01/22	24/01/23	23/01/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for RTX Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

105.5 USD

Average target price

107.1 USD

Spread / Average Target

+1.49%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Aerospace & Defense

	1st Jan change	Capi.
GENERAL DYNAMICS CORPORATION	+13.02%	81.45B
BAE SYSTEMS PLC	+22.65%	52.75B
ROLLS-ROYCE HOLDINGS PLC	+49.15%	48.2B
L3HARRIS TECHNOLOGIES, INC.	+2.19%	41.52B
HINDUSTAN AERONAUTICS LIMITED	+80.16%	40.35B
BHARAT ELECTRONICS LIMITED	+58.66%	25.4B
RHEINMETALL AG	+79.44%	24.73B
AXON ENTERPRISE, INC.	+10.06%	21.75B
KONGSBERG GRUPPEN ASA	+90.16%	14.95B

Other Aerospace & Defense