RTX (RTX) FY2018 results: revenue $34.7 billion, up 16.8% on the year
RTX Corp. (RTX) reported revenue of $34.7 billion for fiscal 2018, the year ended 31 December 2018, up 16.8% on the year before. Net income was $5.3 billion, up 15.8%, and diluted earnings per share $6.50. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2019.
Revenue
$34.7 billion
+16.8% on the year
FY2011FY2018
Operating margin
8.3%
10.1% a year earlier
FY2011FY2018
Net income
$5.3 billion
+15.8% on the year
FY2011FY2018
Diluted EPS
$6.50
+14.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
34,701
29,713
57,244
+16.8%
Cost of revenue
27,465
43,953
41,460
-37.5%
Gross profit
7,236
n/a
15,784
Gross margin
20.9%
n/a
27.6%
Research and development
1,878
1,876
2,376
+0.1%
Selling, general and administrative
2,864
2,387
5,958
+20.0%
Operating income
2,877
2,989
8,221
-3.7%
Operating margin
8.3%
10.1%
14.4%
Interest expense
1,032
922
1,039
+11.9%
Pre-tax income
2,504
2,522
7,133
-0.7%
Income tax
1,098
1,054
1,697
+4.2%
Effective tax rate
43.8%
41.8%
23.8%
Net income
5,269
4,552
5,055
+15.8%
Net margin
15.2%
15.3%
8.8%
Diluted EPS
$6.50
$5.70
$6.12
+14.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
6,322
n/a
3,880
Capital expenditure
1,467
1,556
1,699
-5.7%
Free cash flow
4,855
n/a
2,181
Free cash flow margin
14.0%
n/a
3.8%
Cash from investing
-17,259
-3,127
-2,509
Cash from financing
12,209
2,438
-1,188
+400.8%
Depreciation and amortisation
1,896
1,580
1,962
+20.0%
Share-based compensation
169
129
152
+31.0%
Buybacks
325
1,453
2,254
-77.6%
Dividends paid
2,170
2,074
2,069
+4.6%
Dividend per share
$2.84
$2.72
$2.62
+4.4%
Diluted shares, weighted
810m
799m
826m
+1.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
38,446
29,610
27,579
+29.8%
Non-controlling interest
2,164
1,811
1,590
+19.5%
Redeemable equity
109
131
296
-16.8%
Debt
45,537
27,485
23,901
+65.7%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
47,955
37,883
36,340
+26.6%
Total liabilities and equity
134,211
96,920
89,706
+38.5%
Fixed assets
9,906
10,186
9,158
-2.7%
Goodwill
36,590
27,910
27,059
+31.1%
Intangible assets
24,642
15,883
15,684
+55.1%
Cash and equivalents
3,693
6,108
7,157
-39.5%
Receivables
9,602
12,595
11,481
-23.8%
Inventory
8,081
9,881
8,704
-18.2%
Other assets
41,697
14,357
10,463
+190.4%
Total assets
134,211
96,920
89,706
+38.5%
10-K for the year ended 31 December 2018, filed 7 February 2019: the filing.