Textron (TXT) financial statements
Textron reported revenue of $14.8B in fiscal 2025, up 0.8% a year over 9 years.
Net income was $921M.
Free cash flow was $929M, and the company returned $18M in dividends and $822M in net buybacks.
The diluted share count fell 34% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Textron's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.8B | $14.2B | $14.0B | $13.6B | $11.7B | $12.4B | $12.9B | $13.7B | $13.7B | $14.8B |
| Cost of revenue | $11.3B | $11.8B | $11.6B | $11.4B | $10.1B | — | — | — | — | — |
| Gross profit | $2.5B | $2.4B | $2.4B | $2.2B | $1.6B | — | — | — | — | — |
| Research and development | $677M | $634M | $643M | $647M | $549M | $619M | $601M | $570M | $491M | $521M |
| Selling, general and admin | $1.3B | $1.3B | $1.3B | $1.2B | $1.0B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B |
| Interest expense | $174M | $174M | $166M | $171M | $166M | $142M | — | — | — | — |
| Pre-tax income | $876M | $762M | $1.4B | $942M | $282M | $873M | $1.0B | $1.1B | $943M | $1.1B |
| Income tax | $33M | $456M | $162M | $127M | -$27M | $126M | $154M | $165M | $118M | $214M |
| Net income | $962M | $307M | $1.2B | $815M | $309M | $746M | $861M | $921M | $824M | $921M |
| EPS (diluted) | $3.53 | $1.14 | $4.83 | — | — | $3.30 | $4.01 | $4.56 | $4.33 | $5.11 |
| Diluted shares | 272M | 269M | 253M | 233M | 229M | 227M | 215M | 202M | 190M | 180M |
| Gross margin | 17.8% | 16.7% | 17.0% | 16.3% | 13.4% | — | — | — | — | — |
| Net margin | 7.0% | 2.2% | 8.7% | 6.0% | 2.7% | 6.0% | 6.7% | 6.7% | 6.0% | 6.2% |
Balance sheet
Fiscal years, from Textron's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.3B | $1.3B | $1.1B | $1.4B | $2.3B | $2.1B | $2.0B | $2.2B | $1.4B | $2.0B |
| Inventory | $4.5B | $4.2B | $3.8B | $4.1B | $3.5B | $3.5B | $3.5B | $3.9B | $4.1B | $4.3B |
| Property, plant and equipment | $2.6B | $2.7B | $2.6B | $2.5B | $2.5B | $2.5B | $2.5B | $2.5B | — | — |
| Total assets | $15.4B | $15.3B | $14.3B | $15.0B | $15.4B | $15.8B | $16.3B | $16.9B | $16.8B | $18.1B |
| Total liabilities | $9.8B | $9.7B | $9.1B | $9.5B | $9.6B | $9.0B | $9.2B | $9.9B | $9.6B | $10.3B |
| Shareholders' equity | $5.6B | $5.6B | $5.2B | $5.5B | $5.8B | $6.8B | $7.1B | $7.0B | $7.2B | $7.9B |
| Net debt | -$1.3B | -$1.3B | -$1.1B | -$1.4B | -$2.3B | -$2.1B | -$2.0B | -$2.2B | -$1.4B | -$2.0B |
Cash flow
Fiscal years, from Textron's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $925M | $936M | $1.1B | $1.0B | $768M | $1.6B | $1.5B | $1.3B | $1.0B | $1.3B |
| Capital spending | $446M | $423M | $369M | $339M | $317M | $375M | $354M | $402M | $364M | $383M |
| Free cash flow | $479M | $513M | $738M | $675M | $451M | $1.2B | $1.1B | $864M | $650M | $929M |
| Stock-based compensation | $71M | $77M | $35M | $52M | $57M | $138M | $66M | $94M | $66M | $81M |
| Dividends paid | $22M | $21M | $20M | $18M | $18M | $18M | $17M | $16M | $12M | $18M |
| Share buybacks (net) | -$241M | -$582M | -$1.8B | -$503M | -$183M | -$921M | -$867M | -$1.2B | -$1.1B | -$822M |
| Free cash flow margin | 3.5% | 3.6% | 5.3% | 5.0% | 3.9% | 9.9% | 8.8% | 6.3% | 4.7% | 6.3% |
| Dividends per share | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.06 | $0.10 |
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Open TXT in InvestinglyQuestions
What was Textron's revenue in 2025?
$14.8B in fiscal 2025, from its 10-K filing.
How much free cash flow does Textron generate?
$929M in fiscal 2025 (operating cash flow minus capital spending).
From Textron's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.