RTX · 10-Q · 2026Q2 · Full report
Liquidity and Debt Position
RTX Corp · 2026-07-23 · Importance 56 · Surprise 24 · No source text
At June 30, 2026, RTX held $8.3 billion in cash and cash equivalents, approximately 27% of which was held by foreign subsidiaries, against $37.4 billion of total debt. S&P Global affirmed RTX’s BBB+ rating in May 2026 and revised its outlook from stable to positive, while Moody’s revised its Baa1 outlook to positive in February 2026. RTX had access to a $5.0 billion revolving credit agreement expiring in August 2028 and no borrowings under either the facility or its commercial paper program at June 30, 2026. Management expects cash on hand, operating cash flow, commercial paper access and committed credit facilities to fund future operating needs, but warned that rating declines could increase borrowing costs.
Key facts
- Net cash flows used in financing activities for the six months ended June 30, 2026: $2,909 million; for the six months ended June 30, 2025: $1,409 million. source
- As of June 30, 2026, RTX had a revolving credit agreement permitting aggregate borrowings of up to $5.0 billion which expires in August 2028 and had no borrowings outstanding under this agreement. source
- Net cash flows used in financing activities for the Six Months Ended June 30, 2026: $(2,909) million and for the Six Months Ended June 30, 2025: $(1,409) million. source
- As of June 30, 2026, maximum commercial paper borrowing limit was $5.0 billion and there were no commercial paper borrowings outstanding at June 30, 2026 and December 31, 2025. source
- As of June 30, 2026, RTX had a revolving credit agreement permitting aggregate borrowings of up to $5.0 billion which expires in August 2028. source
- Less current portion of long-term debt at June 30, 2026: $5,296 million, resulting in long-term debt, net of current portion: $31,858 million at June 30, 2026 (December 31, 2025 net of current portion: $34,288 million). source
- Total debt at June 30, 2026: $37,383 million and at December 31, 2025: $37,904 million. source
- Total equity at June 30, 2026: $68,116 million and at December 31, 2025: $67,102 million. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | positive | realized | +1.4% | Less current portion of long-term debt at June 30, 2026: $5,296 million, resulting in long-term debt, net of current portion: $31,858… |
| cash | negative | realized | -0.9% | Net cash flows used in financing activities for the six months ended June 30, 2026: $2,909 million; for the six months ended June 30,… |
| assets | positive | realized | +0.6% | Total equity at June 30, 2026: $68,116 million and at December 31, 2025: $67,102 million. |
| liability | positive | realized | +0.3% | Total debt at June 30, 2026: $37,383 million and at December 31, 2025: $37,904 million. |
| assets | positive | realized | +0.3% | Total capitalization (total debt plus total equity) at June 30, 2026: $105,499 million and at December 31, 2025: $105,006 million. |
| net_income | positive | contingent | — | In February 2026, Moody’s Investors Service outlook improved from Baa1/stable to Baa1/positive. |
| liability | negative | realized | — | Total principal long-term debt as of June 30, 2026: $37,236 million; total long-term debt (after adjustments) $37,154 million. |