Raytheon Technologies (RTX)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $241.8B, Raytheon Technologies's free cash flow of $7.9B (fiscal 2025) would need to grow about 10% a year for the stock to be worth today's price. That is faster than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Raytheon Technologies's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from RTX's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Raytheon Technologies's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $64.4B | $67.1B | $68.9B | $80.7B | $88.6B |
| Net income | $3.9B | $5.2B | $3.2B | $4.8B | $6.7B |
| Free cash flow | $5.0B | $4.9B | $5.5B | $4.5B | $7.9B |
| EPS (diluted) | $2.56 | $3.50 | $2.23 | $3.55 | $4.96 |
| Operating margin | 8.0% | 8.2% | 5.2% | 8.1% | 10.5% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own RTX
From each investor's latest 13F filing (what a 13F shows). 11 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Dodge & Cox Dodge & Cox |
Trimmed | $6.7B | 3.5% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
Trimmed | $885M | 0.73% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $497M | 0.17% | Q2 2026 |
| Lee Ainslie Maverick Capital |
Added | $294M | 2.6% | Q2 2026 |
| PRIMECAP Management PRIMECAP Management Co |
Held | $71M | 0.04% | Q2 2026 |
| Tom Gayner Markel Group Inc. |
Held | $42M | 0.32% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $38M | 0.09% | Q2 2026 |
| Eric Marshall Hodges Capital Management |
Trimmed | $4M | 0.24% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
Added | $3M | 0.03% | Q2 2026 |
| Murray Stahl Horizon Kinetics LLC |
Held | $2M | 0.03% | Q2 2026 |
| Jay Petschek Corsair Capital Management |
Held | $644,323 | 0.08% | Q2 2026 |
Insider buying
Open-market purchases by Raytheon Technologies's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Jan 9, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $188.40 | — |
| Jan 9, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $188.40 | — |
| Dec 29, 2025 | Markwayne Mullin |
0 | $184.37 | — |
| Dec 29, 2025 | Markwayne Mullin |
0 | $184.37 | — |
| Dec 22, 2025 | Roger Williams |
0 | $185.70 | — |
| Dec 22, 2025 | Roger Williams |
0 | $185.70 | — |
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In the full deep dive
Questions
What growth does Raytheon Technologies's stock price imply?
At a market value of $241.8B, Raytheon Technologies would need its free cash flow to grow about 10% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 6% a year.
Are Raytheon Technologies insiders buying the stock?
6 open-market insider purchases of RTX in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Raytheon Technologies?
11 of the superinvestors Investingly tracks hold RTX in their latest 13F, including Dodge & Cox, Hersh Cohen, Cliff Asness.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.