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Textron (TXT) stock

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NYSE: TXT NYSE Aerospace & Defense Next results ~January 27, 2027

C+ Fundamentals grade

Textron is a US-listed company in the aerospace & defense industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$110

Cash-flow model

Base case. Range ~$83–$140 across our lower- and higher-growth cases (1.6%–11.6% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 18% below our base value.

Price used: $88.53, November 2, 2026

Textron valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Textron files

10-Q filed October 29: Textron

Model value +7.3%

Revenue for the twelve months to October 2026 was $15.4bn, up 8.5% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin held at 5.2%. The diluted share count is down 3.9% on a year earlier, which lifts each remaining share. Its fundamentals grade moves from C to C+. Our model value rises from $98.82 to $106 a share, against a share price of $85.70. The rating stays Hold. At that price, our model says the market is pricing in about 2.0% a year of cash-flow growth for five years, slower than the 4.5% a year revenue growth it has delivered.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 28: Textron

Textron's revenue reached $15.4bn in the twelve months to July 2026, up 8.5% on the year, a pace little changed from the prior quarter. Among the aerospace & defense companies we cover, that ranks 27th of 33 for growth. Free-cash-flow margin held steady at 5.2%, while the diluted share count fell 3.9% year on year, lifting the value of each remaining share. The fundamentals grade improves from D to C. Our model value is largely unchanged at $98.82 a share, well above the current price of $78.32, so the rating stays Hold. At that price, the market appears to be pricing in cash-flow growth of about 4.0% a year over five years, not far off the 4.5% a year revenue growth Textron has actually delivered.

10-Q on SEC EDGAR

Where Textron stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $15.3bn, up 8.8% on a year earlier, slower than 9.5% a quarter earlier. Free-cash-flow margin held at 5.0%. The diluted share count is down 4.3% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. Our cash-flow model value is $102 a share, against a share price of $76.46. At that price, our model says the market is pricing in about 1.5% a year of cash-flow growth for five years, slower than the 4.3% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 27, 2027 (estimated)

Textron's trailing-twelve-month revenue grew 8.5% year on year, with a free-cash-flow margin of 5.2%. Where it stands out: change in share count of -3.9% ranks 3 of 51 aerospace & defense companies we cover.

Our discounted-cash-flow model values the business at ~$110 per share in the base case (~$83–$140 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 22% in the quarter to 2026-09-30, the 4th beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $88.53 is 22% below our value per share of $110.
  • Shrinking share count. Diluted shares fell 3.9% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $1.7bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Weakest spot: revenue growth. Revenue growth of 8.5% ranks 41 of 57 aerospace & defense companies we cover (median 15.5%).

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$1.76 against an average estimate of $1.44: beat by 21.8%
Revenue
$3.75bn, up 4.1% on a year earlier
Share reaction
+9.4% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
GAAP earnings per share from continuing operations $5.39 to $5.59 (full-year 2026); adjusted earnings per share $6.4 to $6.6 (full-year 2026)
Next report
January 27, 2027; average EPS estimate $1.92

Textron's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.3%
  • 1 week+13.3%
  • 1 month+14.6%
  • This year+1.6%
  • 1 year+9.7%
  • 5 years+15.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$15.4B
Net margin
6.3%
EPS (TTM, diluted)
$5.55

Growth

Revenue growth
+8.5%
Change in growth rate
−0.3 pts
Share count change
−3.9%

Cash

Free cash flow (TTM)
$809M
FCF margin
5.2%

Earnings

Last results
October 29, 2026
Next results (est.)
January 27, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Product
  3. Dividend
  4. Announcement
  5. Announcement
  6. Announcement
  7. Announcement
  8. Announcement
  9. Product
  10. Announcement
  11. Results
  12. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Textron valuation models and calculator

What the price is pricing in

The share price implies about 1.9% a year of cash-flow growth for five years.That is close to the 4.5% a year revenue growth Textron has delivered.

  • Priced in1.9%
  • Last 12 months8.5%
  • 3 years a year4.8%
  • 5 years a year4.5%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($87.10, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$110
Price used
$87.10close November 3, 2026
Implied change
▲ +24%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Textron's free cash flow after stock-based pay with after-tax interest added back ($790M, FY2026 Q3 TTM), growing 4.8% and 5.9% in the next two years (forecasts, guidance and its record), then back to 6.6% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$83–~$140 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Textron's free cash flow after stock-based pay ( $790M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Textron as an operating company, with every model that fits that kind of business. Cost of equity 9.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.06 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$110 ~$83–$140 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$180 ~$140–$250 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$70 ~$48–$100 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$69 ~$60–$81 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$110 ~$69–$180 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Textron with Aerospace & Defense in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −23%
  • Revenue growth 5 points higher ▲ +30%
  • Free-cash-flow margin 1 point lower ▼ −18%
  • Last year's free-cash-flow margin change, if it persists ▲ +7%
  • Discount rate 1 point higher ▼ −14%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $77$101$133$175$230$301
8.5% $61$79$102$132$171$221
10% $52$65$83$106$136$174

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$41.39$47.94$55.96$45.20$44.37$48.04$76.82$70.54$80.21$77.08$86.99$88.53
Market value$11.5bn$13.1bn$15.0bn$11.4bn$10.3bn$11.0bn$17.4bn$15.2bn$16.2bn$14.7bn$15.7bn$15.5bn
+ Net debt (− = net cash)−$1.0bn−$1.3bn−$1.3bn−$1.1bn−$1.4bn−$2.3bn−$2.1bn−$2.0bn−$2.2bn−$1.4bn−$2.0bn−$1.7bn
Enterprise value$10.5bn$11.8bn$13.8bn$10.3bn$9.0bn$8.7bn$15.3bn$13.1bn$14.0bn$13.2bn$13.7bn$13.8bn
Multiples
Price / sales 0.9x0.9x1.1x0.8x0.8x0.9x1.4x1.2x1.2x1.1x1.1x1.0x
Price / earnings 16.6x13.6x49.0x9.4x12.7x35.6x23.3x17.6x17.6x17.8x17.0x15.9x
Price / free cash flow 17.2x27.3x29.3x15.5x15.3x24.4x14.2x13.4x18.7x22.6x16.9x19.2x
EV / EBITDA ————————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

48 /100

Moderate moat

How hard Textron's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 7 / 20

    Net income has been a median 5.3% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 17.0%, moving by 1.3 percentage points (standard deviation) across 10 years.

  • Durability 6 / 20

    Net margin has been a median 6.2%; its worst year was 2.3%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 10 of 10 years, at a median 5.6% of revenue.

  • Discipline 15 / 20

    The diluted share count fell 23.2% over five years.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 27, 2027, before the open. Analysts expect revenue of $4.3bn and EPS of $1.92 (range $1.63 to $2.16) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $6.55 +7% $15.5bn +5%
Next $7.23 +10% $16.2bn +5%

Next year's EPS estimate has moved +0.1% in 90 days, across 16 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +1.4% on 90 days ago. In the last 30 days, 2 analysts raised Textron's forecast and 3 cut it.

Consensus EPS forecast Textron, last 90 days
$6.00 $6.50 $7.00 $7.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.46 Current fiscal year, 60 days ago: $6.46 Current fiscal year, 30 days ago: $6.46 Current fiscal year, 7 days ago: $6.47 Current fiscal year, Now: $6.55 $6.55 Next fiscal year, 90 days ago: $7.23 Next fiscal year, 60 days ago: $7.26 Next fiscal year, 30 days ago: $7.27 Next fiscal year, 7 days ago: $7.22 Next fiscal year, Now: $7.23 $7.23

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.46$7.23
60 days ago $6.46$7.26
30 days ago $6.46$7.27
7 days ago $6.47$7.22
Now $6.55$7.23

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.44 $1.76 +21.8%
Jun 2026 $1.55 $1.62 +4.8%
Mar 2026 $1.30 $1.45 +11.3%
Dec 2025 $1.70 $1.73 +1.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 28, 2026
  • GAAP earnings per share from continuing operations full-year 2026 $5.39 to $5.59 GAAP Maintained
    “Textron reiterated its expectation for full-year 2026 GAAP earnings per share from continuing operations to be in the range of $5.39 to $5.59, or $6.40 to $6.60 on an adjusted basis, which is reconciled to GAAP in an attachment to this release.” source
  • Adjusted earnings per share full-year 2026 $6.40 to $6.60 Non-GAAP Maintained
    “Textron reiterated its expectation for full-year 2026 GAAP earnings per share from continuing operations to be in the range of $5.39 to $5.59, or $6.40 to $6.60 on an adjusted basis, which is reconciled to GAAP in an attachment to this release.” source
  • Manufacturing cash flow before pension contributions full-year 2026 $700m to $800m Non-GAAP Maintained
    “Textron also reiterated manufacturing cash flow before pension contributions, a non-GAAP measure, to be in the range of $700 million to $800 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Textron's revenue by +4.8% next year and +5.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+4.0%, weight 68%) and the company's own record (+6.6%, weight 32%) . How the weights are set.

Analyst recommendations

16 analysts, Oct 2026
Buy744%
Hold956%
Sell00%

Monthly trend

  1. Oct 20266916
  2. Sep 20266916
  3. Aug 20266916
  4. Jul 202661017

Counts of recommendations published by analysts covering Textron, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.2%
of tradable shares
Days to cover
4
at average volume
Short interest, 1 month
+2%
to October 15, 2026
Held by institutions
94%
of shares
Held by insiders
0.7%
of shares
Employees
34,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +9.7%

$80.74 on October 31, 2025 to $88.53

ThenNowEffect
Revenue (last 12 months) $14.1bn $15.3bn +8.8%
Net margin 5.8% 6.1% +5.5%
P/E multiple 18.3x 16.7x −8.6%
Share count 185m 177m +4.5%

Biggest factor: p/e multiple.

Last 3 years +14.5%

$77.30 on November 3, 2023 to $88.53

ThenNowEffect
Revenue (last 12 months) $13.2bn $15.3bn +16.2%
Net margin 6.9% 6.1% −10.9%
P/E multiple 17.8x 16.7x −6.1%
Share count 208m 177m +17.8%

Biggest factor: share count.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
TXT+60%−8%+14%−5%+14%+2%
Industry peers (median)−6%−11%+13%+22%+19%−12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
TXT75%42%50%50%58%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
TXT−11%−26%−18%−22%−25%−28%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 70% from September 25, 2018 to March 23, 2020. Getting back needed a 233% gain, reached on August 6, 2021, 501 days after the low.

Price behaviour

52-week range
$73.03 – $100.70
From 52-week high
−12.1%
vs 50-day average
+12.5%
vs 200-day average
+0.3%
Volatility (1 year)
29%
Beta vs S&P 500
0.64

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±6.1%
After a week
3 up, 8 down
typical move ±5.8%
After a month
3 up, 8 down
typical move ±6.1%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 +9.4% −2.1% — —
July 28, 2026 −10.9% −1.3% −7.3% −13.3%
April 30, 2026 +5.5% +1.3% +2.0% −0.2%
January 28, 2026 −6.8% −0.2% −3.7% +4.7%
October 23, 2025 −1.6% +1.4% −3.8% −1.5%
July 24, 2025 −8.8% +0.5% −10.8% −6.5%
April 24, 2025 +3.3% +2.8% +6.1% +10.1%
January 22, 2025 −3.7% +1.1% −6.1% −10.9%
October 24, 2024 −5.2% +0.2% −7.4% −1.7%
July 18, 2024 −1.9% −1.4% −0.8% −4.5%
April 25, 2024 −8.0% +0.6% −9.2% −5.7%
January 24, 2024 +8.6% +0.7% +6.8% +8.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Textron’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.02× the last 60 days’ realised volatility , richer than 24% of the 229 stocks we screen today.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Textron in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Textron
$13.5B $14B $14.5B $15B $15.5B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $13.7B Revenue (TTM), FY24 Q1: $13.8B Revenue (TTM), FY24 Q2: $13.9B Revenue (TTM), FY24 Q3: $14B Revenue (TTM), FY24 Q4: $13.7B Revenue (TTM), FY25 Q1: $13.9B Revenue (TTM), FY25 Q2: $14.1B Revenue (TTM), FY25 Q3: $14.2B Revenue (TTM), FY25 Q4: $14.8B Revenue (TTM), FY26 Q1: $15.2B Revenue (TTM), FY26 Q2: $15.3B Revenue (TTM), FY26 Q3: $15.4B $15.4B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $13.7B
FY24 Q1 $13.8B
FY24 Q2 $13.9B
FY24 Q3 $14B
FY24 Q4 $13.7B
FY25 Q1 $13.9B
FY25 Q2 $14.1B
FY25 Q3 $14.2B
FY25 Q4 $14.8B
FY26 Q1 $15.2B
FY26 Q2 $15.3B
FY26 Q3 $15.4B
Revenue growth, TTM YoY Textron
0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 6.3% Revenue growth, TTM YoY, FY24 Q1: 7.0% Revenue growth, TTM YoY, FY24 Q2: 5.6% Revenue growth, TTM YoY, FY24 Q3: 4.1% Revenue growth, TTM YoY, FY24 Q4: 0.1% Revenue growth, TTM YoY, FY25 Q1: 0.6% Revenue growth, TTM YoY, FY25 Q2: 1.2% Revenue growth, TTM YoY, FY25 Q3: 1.8% Revenue growth, TTM YoY, FY25 Q4: 8.0% Revenue growth, TTM YoY, FY26 Q1: 9.5% Revenue growth, TTM YoY, FY26 Q2: 8.8% Revenue growth, TTM YoY, FY26 Q3: 8.5% 8.5%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 6.3%
FY24 Q1 7.0%
FY24 Q2 5.6%
FY24 Q3 4.1%
FY24 Q4 0.1%
FY25 Q1 0.6%
FY25 Q2 1.2%
FY25 Q3 1.8%
FY25 Q4 8.0%
FY26 Q1 9.5%
FY26 Q2 8.8%
FY26 Q3 8.5%
FCF margin (TTM) Textron
3% 4% 5% 6% 7% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 6.3% FCF margin (TTM), FY24 Q1: 5.0% FCF margin (TTM), FY24 Q2: 5.5% FCF margin (TTM), FY24 Q3: 5.2% FCF margin (TTM), FY24 Q4: 4.7% FCF margin (TTM), FY25 Q1: 3.9% FCF margin (TTM), FY25 Q2: 4.0% FCF margin (TTM), FY25 Q3: 4.9% FCF margin (TTM), FY25 Q4: 6.3% FCF margin (TTM), FY26 Q1: 5.7% FCF margin (TTM), FY26 Q2: 5.0% FCF margin (TTM), FY26 Q3: 5.2% 5.2%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 6.3%
FY24 Q1 5.0%
FY24 Q2 5.5%
FY24 Q3 5.2%
FY24 Q4 4.7%
FY25 Q1 3.9%
FY25 Q2 4.0%
FY25 Q3 4.9%
FY25 Q4 6.3%
FY26 Q1 5.7%
FY26 Q2 5.0%
FY26 Q3 5.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Jan 2010 2010 Jan 2011 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Jan 2015 2015 Jan 2016 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Jan 2020 2020 Jan 2021 2021 Jan 2022 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Jan 2026 LTM Oct 2026
Income
Revenue 10.5 10.5 11.3 12.2 12.1 13.9 13.4 13.8 14.2 14.0 13.6 11.7 12.4 12.9 13.7 13.7 14.8 15.4
Gross profit 2.0 1.9 2.0 2.2 2.0 2.5 2.4 2.5 2.4 2.4 2.2 1.6 — — — — — —
Net income −0.0 0.1 0.2 0.6 0.5 0.6 0.7 1.0 0.3 1.2 0.8 0.3 0.7 0.9 0.9 0.8 0.9 1.0
Diluted EPS −$0.12 $0.28 $0.79 $2.00 $1.75 $2.13 $2.50 $3.53 $1.14 $4.83 — — $3.30 $4.01 $4.56 $4.33 $5.11 $5.55
Growth (year on year)
Revenue −25.1% +0.2% +7.1% +8.5% −1.1% +14.7% −3.3% +2.7% +3.0% −1.6% −2.4% −14.5% +6.3% +3.9% +6.3% +0.1% +8.0% +8.5%
Net income −106.4% — — +143.4% −15.4% +20.5% +16.2% +38.0% −68.1% +298.0% −33.3% −62.1% +141.4% +15.4% +7.0% −10.5% +11.8% +17.7%
Diluted EPS −106.2% — — +153.2% −12.5% +21.7% +17.4% +41.2% −67.7% +323.7% — — — +21.5% +13.7% −5.0% +18.0% +22.5%
Margins
Gross margin 19.4% 18.2% 17.4% 18.1% 16.3% 17.7% 18.2% 17.8% 16.7% 17.0% 16.3% 13.4% — — — — — —
Net margin −0.3% 0.8% 2.1% 4.8% 4.1% 4.3% 5.2% 7.0% 2.2% 8.7% 6.0% 2.7% 6.0% 6.7% 6.7% 6.0% 6.2% 6.3%
Free-cash-flow margin 7.4% 6.8% 5.7% 3.7% 3.0% 5.6% 5.0% 3.5% 3.6% 5.3% 5.0% 3.9% 9.9% 8.8% 6.3% 4.7% 6.3% 5.2%
Cash flow
Cash from operations 1.0 1.0 1.1 0.9 0.8 1.2 1.1 0.9 0.9 1.1 1.0 0.8 1.6 1.5 1.3 1.0 1.3 1.3
Capital spending 0.2 0.3 0.4 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.5
Free cash flow 0.8 0.7 0.6 0.4 0.4 0.8 0.7 0.5 0.5 0.7 0.7 0.5 1.2 1.1 0.9 0.7 0.9 0.8
Stock-based pay 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 —
Free cash flow after stock pay 0.7 0.6 0.6 0.4 0.3 0.7 0.6 0.4 0.4 0.7 0.6 0.4 1.1 1.1 0.8 0.6 0.8 —
Balance sheet
Cash 1.9 0.9 0.9 1.4 1.2 0.8 1.0 1.3 1.3 1.1 1.4 2.3 2.1 2.0 2.2 1.4 2.0 1.7
Total debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net debt (negative = net cash) −1.9 −0.9 −0.9 −1.4 −1.2 −0.8 −1.0 −1.3 −1.3 −1.1 −1.4 −2.3 −2.1 −2.0 −2.2 −1.4 −2.0 −1.7
Diluted shares 263m 303m 307m 295m 284m 282m 279m 272m 269m 253m 233m 229m 227m 215m 202m 190m 180m 175m
Returned to shareholders
Dividends 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Buybacks — — — 0.3 — 0.3 0.2 0.2 0.6 1.8 0.5 0.2 0.9 0.9 1.2 1.1 0.8 0.8
Total returned 0.0 0.0 0.0 0.3 0.0 0.4 0.2 0.3 0.6 1.8 0.5 0.2 0.9 0.9 1.2 1.1 0.8 0.8

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 0 checks passed · October 3, 2026
  • Short-term assets cover short-term liabilities The company doesn't report a short-term split. Not assessable.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Textron's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$803M
Dividends (TTM)
$17M
Returned to shareholders
101%
of free cash flow
Buybacks, last 3 fiscal years
$3.1B
Diluted share count
−3.9%
year over year
Total shareholder yield
5.5%
dividends 0.1% + buybacks 5.3% of market value
Dividend payout ratio
2%
of net income paid out
R&D spending
3.1%
of revenue
Sales & admin spending
7.9%
of revenue

Competitors: side by side with peers

Closest by revenue in aerospace & defense
Last 12 months unless stated TXT HII LHX TDG HWM ESLT Median
Revenue, last 12 months $15.4bn $13.5bn $23.3bn $10.0bn $9.7bn $7.9bn $769m
Revenue growth, last 12 months 8.5% 12.6% 7.3% 16.6% 22.0% 16.3% 15.5%
Revenue growth, 3-year average 4.8% 6.9% 7.7% 17.0% 14.9% 39.5% 12.6%
Revenue growth, latest quarter 4.1% 10.8% 7.1% 22.5% 29.4% — 15.8%
Gross margin 16.2% — 25.6% 59.6% — 24.4% 27.8%
Operating margin — 5.8% 10.7% 46.0% 28.1% 8.5% 9.0%
Operating margin, 3-year average — 5.7% 9.4% 45.8% 24.7% 8.7% 6.0%
Net margin 6.3% 5.4% 8.8% 21.3% 21.1% 6.7% 5.5%
Cash from operations / revenue 8.5% 5.5% 17.9% 22.0% 24.7% 9.8% 5.5%
Free-cash-flow margin 5.2% 2.4% 15.6% 19.3% 19.8% 7.0% 3.4%
Free-cash-flow margin, 3-year average 5.1% 2.9% 10.9% 21.6% 16.6% 3.7% 3.0%
Stock pay / revenue — 0.4% 0.3% 1.5% 1.0% 0.3% 1.2%
Change in share count −3.9% 0.2% −0.7% −0.1% −0.9% 4.9% 3.9%

Median of all 57 companies we cover in aerospace & defense. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 aerospace & defense companies
Measure Company Peer median Rank
Revenue growth Growth 8.5% 15.5% 41 of 57
Change in growth rate Growth -0.3pp +2.2pp 40 of 57
Net margin Profitability 6.3% 5.5% 27 of 57
Free-cash-flow margin Cash generation 5.2% 3.4% 25 of 57
Change in share count Balance sheet -3.9% 2.4% 3 of 51

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to January 3, 2026
Segments
Line of business Revenue Share YoY
Textron Aviation $6B 40.2% ▲ 12.7%
Bell $4.3B 28.9% ▲ 19.6%
Industrial $3.2B 21.7% ▼ 8.6%
Textron Systems $1.2B 8.4% ▲ 0.5%
Finance $75M 0.5% ▲ 50.0%
Textron E Aviation $27M 0.2% ▼ 18.2%
Geography
Region Revenue Share YoY
United States $10.3B 69.5% ▲ 6.3%
International $1.9B 13.2% ▲ 0.3%
Europe $1.3B 8.7% ▲ 6.5%
South and Latin America $1.3B 8.6% ▲ 46.5%

From Textron's 10-K filed February 11, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$14.6B
Institutions reporting
786
Shares held vs prior quarter
▲ 2.1%
Positions opened / closed
85 / 84

Top buyers and sellers, Q2 2026: 363 institutions bought and 351 sold ; the biggest buyer was FMR LLC (+4.7M shares) and the biggest seller Two Sigma Investments, LP (−1.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $1.5B 16.1M 10.1% ▲ 41.1%
Blackrock, Inc. $1.4B 15.6M 9.8% ▼ 0.2%
Vanguard Capital Management LLC $1B 11.4M 7.2% ▲ 0.4%
State Street Corp $902M 9.8M 6.2% ▲ 0.9%
Invesco Ltd. $781M 8.5M 5.4% ▲ 6.3%
Vanguard Portfolio Management LLC $678M 7.4M 4.7% ▼ 1.2%
Boston Partners $561M 6.1M 3.8% ▲ 6.9%
Geode Capital Management, LLC $481M 5.1M 3.3% ▲ 2.3%
AQR Capital Management LLC $423M 4.7M 2.9% ▼ 17.3%
LSV Asset Management $422M 4.6M 2.9% ▲ 12.8%
T. Rowe Price Investment Management, Inc. $400M 4.4M 2.7% ▼ 15.7%
Dimensional Fund Advisors LP $239M 2.6M 1.6% ▲ 2.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Textron's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $988,594 1 trade by 1 insider, last 12 months Insider sales History → $30.2M 9 trades by 6 insiders · 0% under pre-set plans
Net ▼ $29.2M net selling
Insider Date Trade Shares Price Value
Clark R Kerry Director May 6, 2026 Sell 2,517 $93.09 $234,308
Kennedy Thomas A Director May 1, 2026 Buy 10,300 $95.98 $988,594
Bamford Mark S VP & Corporate Controller February 17, 2026 Sell 19,808 $97.96 $1.9M
Lupone E Robert EVP, General Counsel & Secy February 17, 2026 Sell 28,056 $98.84 $2.8M
Duffy Julie G EVP and CHRO February 13, 2026 Sell 19,857 $98.70 $2M
Bamford Mark S VP & Corporate Controller February 13, 2026 Sell 9,533 $98.68 $940,716
Atherton Lisa M President and CEO February 13, 2026 Sell 7,600 $98.68 $749,968
Donnelly Scott C Executive Chairman February 13, 2026 Sell 222 $99.66 $22,125
Donnelly Scott C Executive Chairman February 13, 2026 Sell 89,229 $98.79 $8.8M
Donnelly Scott C Executive Chairman February 13, 2026 Sell 130,168 $98.15 $12.8M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 12 trades and filings

In the last 12 months, 1 member of Congress disclosed 1 purchase and 0 sales of Textron shares.

  • Dan Newhouse(R-WA 4):Purchase, $1,001 - $15,000, traded December 11, 2025, filed January 15, 2026
  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 31, 2025, filed November 21, 2025
  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 30, 2025, filed November 21, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 27, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 28, 2026
  • April 30, 2026
  • January 28, 2026
  • October 23, 2025
  • July 24, 2025

Recent SEC filings

Data status

When each part of this page on Textron was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Textron in brief

What does Textron do?
Textron is a US-listed company in the aerospace & defense industry. Its financial year ends in December.
What is Textron's stock ticker?
Textron trades under the ticker TXT on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Textron's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Textron reported revenue of $15.4B, 8.5% higher than a year earlier, according to its SEC filings.
What is Textron's free cash flow?
Textron's free-cash-flow margin is 5.2% of revenue over the trailing twelve months, ranking 25 of the 57 aerospace & defense companies we cover.
What is Textron's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Textron's free cash flow after stock-based pay gives ~$110 per share in the base case, and ~$83–$140 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Textron's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Textron buying back stock, and does it pay a dividend?
Textron spent $803M on share repurchases over the trailing twelve months, and its diluted share count fell 3.9% over the year.
What is Textron's market cap?
On November 2, 2026, Textron's market capitalisation was about $15.5B, with a price-to-earnings ratio of 15.9 and net debt of -$1.7B. Market figures come from third-party market data and may be delayed.
Does Textron pay a dividend?
Yes: Textron paid $17M in dividends over the trailing twelve months, a dividend yield of 0.11% and a payout ratio of 1.7%.
Who are Textron's competitors?
In our Aerospace & Defense peer group, the companies closest to Textron are Huntington Ingalls Industries, L3Harris, TransDigm Group, Howmet Aerospace and Elbit Systems LTD. The side-by-side comparison below sets their revenue, margins and growth against Textron's.
Are insiders buying or selling Textron stock?
Over the last 12 months, Textron's directors and officers reported 1 open-market purchases and 9 sales on Form 4. The insider trading page charts every trade.
When is Textron's next earnings date?
Around January 27, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Textron announces its own schedule.