RTX (RTX) FY2017 results: revenue $29.7 billion, down 48.1% on the year
RTX Corp. (RTX) reported revenue of $29.7 billion for fiscal 2017, the year ended 31 December 2017, down 48.1% on the year before. Net income was $4.6 billion, down 10.0%, and diluted earnings per share $5.70. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2019.
Revenue
$29.7 billion
-48.1% on the year
FY2010FY2017
Operating margin
10.1%
14.4% a year earlier
FY2010FY2017
Net income
$4.6 billion
-10.0% on the year
FY2010FY2017
Diluted EPS
$5.70
-6.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
29,713
57,244
56,098
-48.1%
Cost of revenue
43,953
41,460
40,431
+6.0%
Gross profit
n/a
15,784
15,667
Gross margin
n/a
27.6%
27.9%
Research and development
1,876
2,376
2,279
-21.0%
Selling, general and administrative
2,387
5,958
5,886
-59.9%
Operating income
2,989
8,221
7,291
-63.6%
Operating margin
10.1%
14.4%
13.0%
Interest expense
922
1,039
824
-11.3%
Pre-tax income
2,522
7,133
6,467
-64.6%
Income tax
1,054
1,697
2,111
-37.9%
Effective tax rate
41.8%
23.8%
32.6%
Net income
4,552
5,055
7,608
-10.0%
Net margin
15.3%
8.8%
13.6%
Diluted EPS
$5.70
$6.12
$8.61
-6.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
n/a
3,880
6,383
Capital expenditure
1,556
1,699
1,652
-8.4%
Free cash flow
n/a
2,181
4,731
Free cash flow margin
n/a
3.8%
8.4%
Cash from investing
-3,127
-2,509
-2,794
Cash from financing
2,438
-1,188
-10,776
Depreciation and amortisation
1,580
1,962
1,863
-19.5%
Share-based compensation
129
152
158
-15.1%
Buybacks
1,453
2,254
10,000
-35.5%
Dividends paid
2,074
2,069
2,184
+0.2%
Dividend per share
$2.72
$2.62
$2.56
+3.8%
Diluted shares, weighted
799m
826m
883m
-3.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
29,610
27,579
27,358
+7.4%
Non-controlling interest
1,811
1,590
1,486
+13.9%
Redeemable equity
131
296
122
-55.7%
Debt
27,485
23,901
20,425
+15.0%
Other liabilities
37,883
36,340
38,093
+4.2%
Total liabilities and equity
96,920
89,706
87,484
+8.0%
Fixed assets
10,186
9,158
8,732
+11.2%
Goodwill
27,910
27,059
27,301
+3.1%
Intangible assets
15,883
15,684
15,603
+1.3%
Cash and equivalents
6,108
7,157
7,075
-14.7%
Receivables
12,595
11,481
10,653
+9.7%
Inventory
9,881
8,704
8,135
+13.5%
Other assets
14,357
10,463
9,985
+37.2%
Total assets
96,920
89,706
87,484
+8.0%
10-K for the year ended 31 December 2017, filed 7 February 2019: the filing.