Raytheon Technologies Corporation (RTX) – Geopolitical tensions drive growth

Raytheon Technologies Corporation (RTX) (Q3FY23)

Stock Performance: Over the past 3 years, Raytheon Technologies stock generated returns of 28% where the stock price surged from $64.99 in Nov 09, 2020 to $83.2 in Nov 08, 2023. The stock had a 200-Day Moving Average of $90.93 and a 50-Day Moving Average of $76.53.

In the past 1 year, the stock’s returns declined by -10% where the stock price decreased from $92.95 in Nov 14 , 2022 to $83.2 in Nov 08, 2023. The stock had a 52 Week High of $104.91 and a 52 Week Low of $68.56.

Over the past 3 months, the stock delivered returns of -4% where the stock price decreased from $86.84 in Aug 11, 2023 to $83.2 in Nov 08, 2023.

Quarter Performance: In Q3FY23, RTX’s revenue decreased by -21% to $13.5bn from $16.9bn in Q3FY22 and COGS decreased by -5% to $12.75bn from $13.5bn in the same period.

Guidance: RTX expects the reported sales to be ~$68.5bn and the adj. sales to be ~$74bn. The adj. EPS is expected to be in the range of $4.98-$5.02 for FY23. The company also expects a free cash flow of ~$4.8bn in FY23.

Highlights

Due to the current geopolitical tensions, global defense spending is increasing which will in turn increase the demand for RTX’s products. In the quarter, the U.S. approved moving forward with the sale of F-35 aircraft to South Korea. This is estimated to be worth about $5bn and will support further growth going forward.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Economic Value Added Analysis
– P/E Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Metrics
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages: 39

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