RTX (RTX) FY2015 results: revenue $56.1 billion, down 3.1% on the year
RTX Corp. (RTX) reported revenue of $56.1 billion for fiscal 2015, the year ended 31 December 2015, down 3.1% on the year before. Net income was $7.6 billion, up 22.3%, and diluted earnings per share $8.61. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2016.
Revenue
$56.1 billion
-3.1% on the year
FY2008FY2015
Operating margin
13.0%
16.6% a year earlier
FY2008FY2015
Net income
$7.6 billion
+22.3% on the year
FY2008FY2015
Diluted EPS
$8.61
+26.2% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
56,098
57,900
56,600
-3.1%
Cost of revenue
40,431
40,898
40,468
-1.1%
Gross profit
15,667
17,002
16,132
-7.9%
Gross margin
27.9%
29.4%
28.5%
Research and development
2,279
2,475
2,342
-7.9%
Selling, general and administrative
5,886
6,172
6,364
-4.6%
Operating income
7,291
9,593
8,549
-24.0%
Operating margin
13.0%
16.6%
15.1%
Interest expense
824
881
n/a
-6.5%
Pre-tax income
6,467
8,712
7,654
-25.8%
Income tax
2,111
2,244
1,999
-5.9%
Effective tax rate
32.6%
25.8%
26.1%
Net income
7,608
6,220
5,721
+22.3%
Net margin
13.6%
10.7%
10.1%
Diluted EPS
$8.61
$6.82
$6.25
+26.2%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
6,383
7,336
7,505
-13.0%
Capital expenditure
1,652
1,594
1,569
+3.6%
Free cash flow
4,731
5,742
5,936
-17.6%
Free cash flow margin
8.4%
9.9%
10.5%
Cash from investing
-2,794
-1,967
-1,323
Cash from financing
-10,776
-4,249
-5,940
Depreciation and amortisation
1,863
1,820
1,735
+2.4%
Share-based compensation
158
219
250
-27.9%
Buybacks
10,000
1,500
1,200
+566.7%
Dividends paid
2,184
2,048
1,908
+6.6%
Dividend per share
$2.56
$2.36
$2.19
+8.5%
Diluted shares, weighted
883m
912m
915m
-3.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
27,358
31,213
31,866
-12.4%
Non-controlling interest
1,486
1,351
1,353
+10.0%
Redeemable equity
122
140
111
-12.9%
Debt
20,425
19,701
20,241
+3.7%
Other liabilities
38,093
38,884
37,023
-2.0%
Total liabilities and equity
87,484
91,289
90,594
-4.2%
Fixed assets
8,732
8,592
8,866
+1.6%
Goodwill
27,301
27,448
28,168
-0.5%
Intangible assets
15,603
15,528
15,521
+0.5%
Cash and equivalents
7,075
5,235
4,607
+35.1%
Receivables
10,653
10,448
11,458
+2.0%
Inventory
8,135
7,642
10,330
+6.5%
Other assets
9,985
16,396
11,644
-39.1%
Total assets
87,484
91,289
90,594
-4.2%
10-K for the year ended 31 December 2015, filed 11 February 2016: the filing.