RTX.US

RTX Corp

United StatesCyclicalsAircraft Engines & Engine PartsNYSE

202.79

USD · Close 2 Nov 2026

Intrinsic value vs last close

Model estimate

Close above intrinsic value

−44.7%Intrinsic value vs last close

−50%At last close+100%+500%

Last close (USD): 202.79
Intrinsic value (USD): 112.08

Intrinsic value = sector model's value (no adjustment)

Earnings-capitalised value

67.63−66.7%vs last close

Cost of equity 10.9% · price volatility 25.1%

Last year's earnings per share, capitalised at a cost of equity that rises with this share's own price swings, growing at the sector's long-run rate.

This is a different figure from the intrinsic value above. The intrinsic value is what the sector model says the business is worth. On Vietnamese stocks this figure has ranked future returns best in our track record; this market has no track record here yet.

Model reliability: High; Model fitInput stabilityRisk checks; High requires the model’s diagnostic criteria to be met.
Probability of outperforming peers: 50%; 12 monthsHistorical calibration; Chance the return beats the median return of its sector peers.

Assessed 2 Nov 2026Not updated with daily prices

These assessments address different questions. Neither establishes that the displayed valuation is correct or guarantees a future return.

Published filingsValued 2 Nov 2026Anchored to close on 2 Nov 2026The gap is recalculated when the close changes; the value updates weekly.

Valuation Breakdown

Aircraft Engines & Engine Parts→Cyclical

Classified as cyclical from the industry its market data reports: “Aircraft Engines & Engine Parts”.

ModelEV/EBITDA Mid-Cycle

Equity Value = Mid-Cycle EBITDA x Fair EV/EBITDA - Net Debt

Cyclical companies (chemicals, oil & gas, basic resources) have earnings that swing dramatically with commodity prices and economic cycles. Valuing them on a single year's earnings is misleading: they look cheap at peaks and expensive at troughs. This model uses 7-year median EBITDA ("mid-cycle" earnings) and a 7-year median EV/EBITDA multiple to estimate what the firm is worth at a normal point in the cycle.

Technical details

Why this model

Commodity/basic-material earnings swing with global prices. Using mid-cycle EBITDA normalizes across booms and busts, preventing overpayment at cyclical peaks. EV/EBITDA is preferred over P/E because it's capital-structure-neutral and not distorted by depreciation policies.

How it works

Computes the 7-year median EBITDA and the 7-year median EV/EBITDA. With fewer than 5 years of its own EBITDA, the company's EBITDA is estimated as revenue x the sector median margin. When mid-cycle EBITDA is not positive, the value is 70% of book value per share. Fair Value = (Mid-Cycle EBITDA x Fair EV/EBITDA) - Net Debt.

Best for

Commodity producers, basic materials, chemicals, and oil & gas companies with multi-year earnings cycles.

Model Inputs

Mid-Cycle EBITDA→9.52B

Fair EV/EBITDA→18.4x

Years of data→7

Valuation

We compare the sector model's value with the last close. This market has no track record here yet, so the value is shown as the model gives it.

Last close (USD)→202.79

Intrinsic value vs last close→−44.7%

Intrinsic value = sector model's value (no adjustment)

Intrinsic value (USD)

112.08

What feeds each step— click a source to highlight it in the statements

Mid-cycle EBITDA9.5Bebitda source: own medianyears of data: 7

Feeds valuation:Model inputsFinal calculation

Line item	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Cash and cash equivalentsNet debt bridge	·	7,435	5,578	6,587	6,220	7,832	8,802	7,378	6,152	8,985	7,157	7,075	5,229	4,607	·	·	·	·	·	·	·
Short-term investmentsNet debt bridge	·	750	786	745	774	965	881	0.00	·	·	·	·	·	·	·	·	·	·	·	·	·
Inventories, Net	·	13,364	12,768	11,777	10,617	9,178	9,411	10,950	10,083	9,881	8,704	8,135	9,865	10,330	9,537	7,797	7,766	7,509	·	·	·
Fixed assets	·	16,868	16,089	15,748	15,170	14,972	14,962	12,755	12,297	10,186	9,158	8,732	9,276	8,866	8,518	6,201	6,280	6,364	6,348	·	·
TOTAL ASSETS	·	171,079	162,861	161,869	158,864	161,404	162,153	139,716	134,211	96,920	89,706	87,484	91,289	90,594	89,409	61,452	58,493	55,762	56,837	·	·
Short-term borrowingsNet debt bridge	·	204	183	189	625	134	247	2,364	1,469	392	601	926	126	388	503	630	116	254	1,023	·	·
Long-term borrowingsNet debt bridge	·	34,288	38,726	42,355	30,694	31,327	31,026	37,788	41,192	24,989	21,697	19,320	17,872	19,741	21,597	9,501	10,010	8,257	9,337	·	·
OWNER'S EQUITY	·	67,102	61,923	61,410	74,178	74,664	73,852	44,231	40,610	31,421	29,169	28,844	32,564	33,219	27,069	22,820	22,332	20,999	16,681	22,064	18,344
MINORITY INTERESTSNet debt bridge	·	1,857	1,767	1,612	1,546	1,596	1,689	2,457	2,164	1,811	1,590	1,486	1,351	1,353	1,155	940	947	933	918	·	·

Earnings Quality

Fiscal year 2025

Good

Accrual QualityLow accruals vs reported earnings

100

Cash ConversionOperating cash flow vs net income

100

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

Quantitative Scores

F-Score

7/9

Strong

Sharpe

0.29

Positive

Composite

70 and above

Piotroski F-Score Breakdown

✓Net Income > 0

✓Operating CF > 0

✓ROA Rising

✓OCF > Net Income

✓Lower Leverage

✗Better Liquidity

✓No Dilution

✗Margin Up

✓Turnover Up

Price Risk

Momentum

+4.1%

Volatility

24.3%

Max Drawdown

−20.1%

Key Ratios

Fiscal year 2025

40.44P/E

P/B: 4.06
P/S: 3.07
ROE: 10.0%
EPS: 5.02
BVPS: 50.02
Net Margin: 7.6%
D/E: 0.51
Rev Growth: +9.7%
EV/EBITDA: 21.97
Div Yield: —

Company Overview

Shares outstanding: 1,349M
Industry: Aircraft Engines & Engine Parts

Computed 02/11/2026