RTX Corporation management check
RTX · Industrials · Aerospace & Defense · CEO Christopher T. Calio
Filings as of
5 good · 2 to watch · 0 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2021 grew to $288, against $230 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.86 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.4% of net income$24.8m of reported pay in fiscal 2025, against $6.7bn of net income.
- Watch
Do they own the stock?
Insiders are selling4 insiders sold $6.9m in the last six months and none bought.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -2.8% a year over the last three fiscal years. Stock-based pay was 0.6% of revenue in the latest year.
- Watch
Is leadership stable?
2 CEOs in the pay tableCEOs in the pay table: Gregory J. Hayes, Christopher T. Calio. 8 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Industrials.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 81 | 55 | |
| Pay for performance | 93 | 86 | |
| CEO cost | 86 | 48 | |
| Skin in the game | — | — | 55 |
| Dilution | 85 | 62 | |
| Stable leadership | 45 | 75 | |
| Clean books | 100 | 100 |
Closest peers
Others in Aerospace & Defense, by management score. RTX Corporation is 6th of 81 in its sector.
- 21GEGE Aerospace85
- 44RTXRTX Corporation82
- 98HWMHowmet Aerospace76
- 113NOCNorthrop Grumman75
- 130LMTLockheed Martin73
- 154GDGeneral Dynamics72
- 206TXTTextron68
- 217TDGTransDigm Group67
- 310LHXL3Harris61
- 382HIIHuntington Ingalls Industries55
Pay versus performance
From the proxy statement filed March 9, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Christopher T. Calio | $24.8m | $88.6m | $7.5m | $288 | $230 | $6.7bn |
| 2024 | Christopher T. Calio, Gregory J. Hayes | $18.0m | $48.6m | $6.1m | $178 | $162 | $4.8bn |
| 2023 | Gregory J. Hayes | $21.9m | $0 | $8.2m | $127 | $142 | $3.2bn |
| 2022 | Gregory J. Hayes | $22.6m | $45.2m | $7.6m | $148 | $133 | $5.2bn |
| 2021 | Gregory J. Hayes | $23.3m | $39.7m | $9.7m | $123 | $113 | $3.9bn |
The board says pay is tied most to Adjusted EPS. Its other key measures: Earnings, Free Cash Flow, Adjusted Earnings Per Share, Return on Invested Capital, Total Shareowner Return vs. our Core A&D Peers and the companies in the S&P 500 Index.
Insiders and the CEO's stake
4 insiders sold $6.9m in the last six months and none bought.
- SoldRamsaran MaharajhEVP and General Counsel$3.1mAug 18, 2026
- SoldTroy D BrunkPresident, Collins Aerospace$1.8mJul 24, 2026
- SoldKevin G DaSilvaSenior VP and Treasurer$1.5mJul 28, 2026
- SoldTracy A AtkinsonDirector$500kJul 27, 2026
Leadership and governance on file
- Sep 15, 2026Leadership change8-K 5.02
- Mar 5, 2026Leadership change8-K 5.02
- Feb 3, 2025Leadership change8-K 5.02
- Jul 31, 2024Leadership change8-K 5.02
- Jul 17, 2024Leadership change8-K 5.02
- Jan 4, 2024Leadership change8-K 5.02
- Dec 14, 2023Leadership change8-K 5.02
- Nov 22, 2023Leadership change8-K 5.02
- Feb 21, 2023Leadership change8-K 5.02
- Jan 24, 2023Leadership change8-K 5.02
- Jan 17, 2023Leadership change8-K 5.02
- Mar 16, 2022Leadership change8-K 5.02
Latest shareholder vote results: May 4, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $34.6bn returned to owners in buybacks and dividends, 146% of net income, and $2.2bn of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $64.4bn | $67.1bn | $68.9bn | $80.7bn | $88.6bn |
| Net income | $3.9bn | $5.2bn | $3.2bn | $4.8bn | $6.7bn |
| Stock-based pay | $442.0m | $420.0m | $425.0m | $437.0m | $519.0m |
| Buybacks | $2.3bn | $2.8bn | $12.9bn | $444.0m | $50.0m |
| Dividends | $3.0bn | $3.1bn | $3.2bn | $3.2bn | $3.6bn |
| Diluted shares | 1509m | 1486m | 1435m | 1344m | 1356m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.