RTX (RTX) FY2016 results: revenue $57.2 billion, up 2.0% on the year
RTX Corp. (RTX) reported revenue of $57.2 billion for fiscal 2016, the year ended 31 December 2016, up 2.0% on the year before. Net income was $5.1 billion, down 33.6%, and diluted earnings per share $6.12. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2019.
Revenue
$57.2 billion
+2.0% on the year
FY2009FY2016
Operating margin
14.4%
13.0% a year earlier
FY2009FY2016
Net income
$5.1 billion
-33.6% on the year
FY2009FY2016
Diluted EPS
$6.12
-28.9% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
57,244
56,098
57,900
+2.0%
Cost of revenue
41,460
40,431
40,898
+2.5%
Gross profit
15,784
15,667
17,002
+0.7%
Gross margin
27.6%
27.9%
29.4%
Research and development
2,376
2,279
2,475
+4.3%
Selling, general and administrative
5,958
5,886
6,172
+1.2%
Operating income
8,221
7,291
9,593
+12.8%
Operating margin
14.4%
13.0%
16.6%
Interest expense
1,039
824
881
+26.1%
Pre-tax income
7,133
6,467
8,712
+10.3%
Income tax
1,697
2,111
2,244
-19.6%
Effective tax rate
23.8%
32.6%
25.8%
Net income
5,055
7,608
6,220
-33.6%
Net margin
8.8%
13.6%
10.7%
Diluted EPS
$6.12
$8.61
$6.82
-28.9%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
3,880
6,383
7,336
-39.2%
Capital expenditure
1,699
1,652
1,594
+2.8%
Free cash flow
2,181
4,731
5,742
-53.9%
Free cash flow margin
3.8%
8.4%
9.9%
Cash from investing
-2,509
-2,794
-1,967
Cash from financing
-1,188
-10,776
-4,249
Depreciation and amortisation
1,962
1,863
1,820
+5.3%
Share-based compensation
152
158
219
-3.8%
Buybacks
2,254
10,000
1,500
-77.5%
Dividends paid
2,069
2,184
2,048
-5.3%
Dividend per share
$2.62
$2.56
$2.36
+2.3%
Diluted shares, weighted
826m
883m
912m
-6.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
27,579
27,358
31,213
+0.8%
Non-controlling interest
1,590
1,486
1,351
+7.0%
Redeemable equity
296
122
140
+142.6%
Debt
23,901
20,425
19,701
+17.0%
Other liabilities
36,340
38,093
38,884
-4.6%
Total liabilities and equity
89,706
87,484
91,289
+2.5%
Fixed assets
9,158
8,732
8,592
+4.9%
Goodwill
27,059
27,301
27,448
-0.9%
Intangible assets
15,684
15,603
15,528
+0.5%
Cash and equivalents
7,157
7,075
5,235
+1.2%
Receivables
11,481
10,653
10,448
+7.8%
Inventory
8,704
8,135
7,642
+7.0%
Other assets
10,463
9,985
16,396
+4.8%
Total assets
89,706
87,484
91,289
+2.5%
10-K for the year ended 31 December 2016, filed 7 February 2019: the filing.