RTX (RTX) 10-K Summary — Year Ended Dec 31, 2023
RTX Corporation reported a modest revenue increase for the most recent fiscal year, with operating cash flow significantly exceeding net income. The company faces material risks from its government contracts and cybersecurity threats.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
RTX Corporation reported a modest revenue increase for the most recent fiscal year, with operating cash flow significantly exceeding net income. The company faces material risks from its government contracts and cybersecurity threats.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$68.9B
Revenue reported for the fiscal year.
Operating income
$3.6B
Income from operations reported for the year.
Net income
$3.2B
Net income reported for the year.
Operating cash flow
$7.9B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $64.4B | n/a |
| Dec 31, 2022 | $67.1B | +4.2% |
| Dec 31, 2023 | $68.9B | +2.8% |
Business overview
RTX Corporation operates in the aerospace and defense industry, as described in its Business overview section. The company's operations are subject to risk factors including government contracting and cybersecurity, as outlined in Item 1A.
Financial performance
Revenue grew from the prior year, while operating income and net income were reported at lower levels relative to revenue. Operating cash flow was substantially higher than net income, indicating strong cash generation from operations.
Material risks
The filing identifies risks related to government contracts, including potential termination or modification, and cybersecurity threats that could disrupt operations. These risks are detailed in the Risk Factors section and could materially affect the company's financial condition.
Liquidity and capital
The company's operating cash flow exceeded net income, suggesting ample internal liquidity for capital allocation. No specific capital allocation plans or changes were discussed in the supplied context.
What to watch
Monitor any changes in government contract terms or cybersecurity incident disclosures in the next filing.