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Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently the company runs and where it’s prioritizing investment.SG&A has ratcheted up recently while R&D remains relatively stable with recurring year‑end bumps; the increase aligns with management’s disclosed capacity, munitions ramp and commercial scaling (and higher selling costs). Q1‑2026 dips look seasonal rather than permanent. Management’s guidance and record backlog imply this heavier SG&A is an investment to drive outsized revenue drop‑through, but tariff payments and powdered‑metal remediation create one‑time expense noise and GTF transition headwinds that could keep near‑term margin pressure despite long‑run operating leverage.
Date | Research and Development | Selling, General, and Administrative |
|---|---|---|
Jun 30, 2026 | $726.00M | $1.66B |
Mar 31, 2026 | $627.00M | $1.48B |
Dec 31, 2025 | $789.00M | $1.64B |
Sep 30, 2025 | $684.00M | $1.44B |
Jun 30, 2025 | $697.00M | $1.57B |
Mar 31, 2025 | $637.00M | $1.45B |
Dec 31, 2024 | $808.00M | $1.57B |
Sep 30, 2024 | $751.00M | $1.39B |
Jun 30, 2024 | $706.00M | $1.45B |
Mar 31, 2024 | $669.00M | $1.39B |