RTX A/S (RTX.CO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-101.3%

-DKK 1.33

vs DKK 100.50 price

Levered DCF

DKK 49.11

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

4.64

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	70.99×	-21.74×	14.67×	27.71×	375×	28.65×	19.64×	25.91×
P/B	2.22×	2.06×	1.82×	2.83×	4.71×	5.14×	4.03×	4.98×
P/S	1.36×	1.34×	0.88×	1.42×	2.98×	3.25×	2.5×	3.27×
EV / EBITDA	15.8×	308.73×	6.27×	11.21×	42.23×	17.01×	13.25×	17.65×
Gross margin	54.4%	50.7%	18.3%	49.0%	57.7%	60.8%	59.6%	59.1%
Operating margin	1.6%	-6.8%	8.7%	6.9%	1.3%	15.0%	15.5%	15.7%
Net margin	1.9%	-6.2%	6.0%	5.1%	0.8%	11.4%	12.7%	12.6%
Current ratio	3.34×	3.45×	2.98×	2.59×	2.67×	3.52×	3.58×	3.18×
Debt / equity	0.16×	0.17×	0.15×	0.18×	0.21×	0.15×	0×	0×
Interest coverage	4.3×	-10.71×	27.74×	19.12×	2.4×	51.52×	166.78×	54.81×
Dividend yield	0.0%	0.0%	0.0%	0.0%	1.5%	1.2%	1.2%	1.1%
Payout ratio	0.0%	0.0%	0.0%	0.0%	567.7%	33.2%	24.0%	28.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	3.1%	-9.5%	12.4%	10.2%	1.3%	17.9%	20.5%	19.2%
Return on invested capital	1.6%	-6.8%	12.1%	8.9%	-10.4%	15.4%	19.1%	18.8%
Return on assets	2.1%	-6.2%	8.1%	6.1%	0.8%	11.8%	15.4%	14.2%
Free cash flow yield	7.2%	-0.2%	10.3%	-3.2%	0.3%	1.9%	6.2%	4.4%
Earnings yield	1.4%	-4.6%	6.8%	3.6%	0.3%	3.5%	5.1%	3.9%
Enterprise value	DKK 676M	DKK 649M	DKK 635.3M	DKK 954.9M	DKK 1.4B	DKK 1.8B	DKK 1.3B	DKK 1.5B
Net debt / EBITDA	-1.53×	-8.93×	-0.5×	0.18×	1.26×	0.11×	-0.73×	-0.73×
Cash conversion cycle (days)	71	127	110	136	76	54	50	18