RTX Corporation (RTX) vs Space Exploration Technologies Corp. (SPCX)

RTX Corporation and Space Exploration Technologies Corp. are both Aerospace & Defense companies. Space Exploration Technologies Corp. is the larger, with a market value of $1.68T against $258.9B — 6.5× the size. Space Exploration Technologies Corp. has negative trailing earnings, so its P/E is not meaningful; RTX Corporation trades at 30.9×. RTX Corporation has the higher net margin (8.75% vs −10.7%) and the higher return on invested capital (7.12% vs −0.33%). Both pay a dividend; Space Exploration Technologies Corp. yields more (2.87% vs 1.47%). Across the 18 metrics below, RTX Corporation leads on 13 and Space Exploration Technologies Corp. on 5.

Valuation

Metric RTX SPCX Aerospace & Defense median
P/E 30.88 n/m 28.48
P/S 2.71 46.62 2.95
P/B 3.67 8.45 2.68
Price to free cash flow 28.50 n/m 31.70
EV/EBITDA 18.39 140.42 16.85
EV/Sales 3.00 45.03 2.74
Earnings yield 3.24% (1.43%) 0.89%
Free cash flow yield 3.51% (2.63%) 0.00%

Profitability

Metric RTX SPCX Aerospace & Defense median
Gross margin 21.10% 56.74% 26.41%
Operating margin 11.77% (2.08%) 3.69%
Net margin 8.75% (10.71%) 2.74%
Free cash flow margin 9.51% (122.62%) 0.00%
Return on equity 12.24% (3.78%) 4.44%
Return on assets 4.87% (2.21%) 1.90%
Return on invested capital 7.12% (0.33%) 0.26%

Growth

Metric RTX SPCX Aerospace & Defense median
Revenue growth (TTM) 11.63% — 18.03%
EPS growth (last fiscal year) 39.72% (93,838.89%) 24.80%
Revenue growth, 5-year CAGR 9.38% — 9.73%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric RTX SPCX Aerospace & Defense median
Debt to equity 0.53 0.22 0.20
Current ratio 1.05 3.08 2.85
Net debt to EBITDA 2.23 (0.44) 1.29

Dividend

Metric RTX SPCX Aerospace & Defense median
Dividend yield 1.47% 2.87% 0.91%
Payout ratio 0.46 — 0.30

Size

Metric RTX SPCX Aerospace & Defense median
Market cap 258.93b 1.68t 1.78b

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