RTX (RTX) FY2011 results: revenue $55.8 billion, up 6.7% on the year
RTX Corp. (RTX) reported revenue of $55.8 billion for fiscal 2011, the year ended 31 December 2011, up 6.7% on the year before. Net income was $5.0 billion, up 13.9%, and diluted earnings per share $5.49. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2012.
Revenue
$55.8 billion
+6.7% on the year
FY2007FY2011
Operating margin
14.1%
13.2% a year earlier
FY2007FY2011
Net income
$5.0 billion
+13.9% on the year
FY2007FY2011
Diluted EPS
$5.49
+15.8% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
55,754
52,275
52,425
+6.7%
Cost of revenue
40,369
37,954
38,861
+6.4%
Gross profit
15,385
14,321
13,564
+7.4%
Gross margin
27.6%
27.4%
25.9%
Research and development
1,951
1,656
1,558
+17.8%
Selling, general and administrative
6,161
5,798
6,036
+6.3%
Operating income
7,846
6,898
6,377
+13.7%
Operating margin
14.1%
13.2%
12.2%
Interest expense
n/a
n/a
705
Pre-tax income
7,350
6,248
5,760
+17.6%
Income tax
2,134
1,725
1,581
+23.7%
Effective tax rate
29.0%
27.6%
27.4%
Net income
4,979
4,373
3,829
+13.9%
Net margin
8.9%
8.4%
7.3%
Diluted EPS
$5.49
$4.74
$4.12
+15.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
6,460
5,720
5,353
+12.9%
Capital expenditure
929
838
826
+10.9%
Free cash flow
5,531
4,882
4,527
+13.3%
Free cash flow margin
9.9%
9.3%
8.6%
Cash from investing
-672
-3,150
-1,104
Cash from financing
-3,983
-3,140
-4,191
Depreciation and amortisation
1,263
1,300
1,258
-2.8%
Share-based compensation
221
148
153
+49.3%
Buybacks
2,175
2,200
1,100
-1.1%
Dividends paid
1,602
1,482
1,356
+8.1%
Dividend per share
$1.86
$1.70
$1.54
+9.7%
Diluted shares, weighted
907m
923m
929m
-1.7%
Shares outstanding at period end
n/a
n/a
1m
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
21,880
21,385
20,066
+2.3%
Non-controlling interest
940
947
933
-0.7%
Short-term borrowings
n/a
n/a
254
Debt
10,260
10,289
9,490
-0.3%
Other liabilities
28,372
25,872
25,019
+9.7%
Total liabilities and equity
61,452
58,493
55,762
+5.1%
Fixed assets
6,201
6,280
6,364
-1.3%
Goodwill
17,943
17,721
16,298
+1.3%
Intangible assets
3,918
4,060
3,538
-3.5%
Receivables
9,546
8,925
8,469
+7.0%
Inventory
7,797
7,766
7,509
+0.4%
Other assets
16,047
13,741
13,584
+16.8%
Total assets
61,452
58,493
55,762
+5.1%
10-K for the year ended 31 December 2011, filed 9 February 2012: the filing.