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Diversified maker of Cessna and Beechcraft business aircraft, Bell helicopters and specialized vehicles.
Diversified maker of Cessna and Beechcraft business aircraft, Bell helicopters and specialized vehicles.
Business jets are sold to corporations, charter operators and individuals against a backlog, and the fleet in service generates parts and maintenance revenue. Bell sells military helicopters to the US government and commercial helicopters to operators, and won the US Army's Future Long-Range Assault Aircraft program in 2022.
Moat: narrow (brand, installed base, IP / patents). Long-established Cessna/Bell brands and installed fleets support recurring aftermarket revenue.
Headquarters: Providence, Rhode Island, US · Founded: 1923 · Employees: 34,000
Size Textron (TXT) is a United States Industrials company (Aerospace & Defense) with a market value of $14.2B, the 623rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $83.54 on 6 Nov 2026.
Performance Over six months the shares fell 8.2%, against -7.6% for the median peer and -1.1% for the United States market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 8.5% over the last twelve months (peer median +13.7%); the operating margin is 6.7% (peer median 11.1%).
Valuation It trades at 11.9× forward earnings against a peer median of 26.9× (2nd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +3 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.7 points below its cost of capital (8.4% WACC).
Backlog Backlog (remaining performance obligations) was $19.0B at 3 Oct 2026, down 1% on a year earlier — 1.2 years of trailing revenue. Backlog detail →
Credit Textron has 9 bonds outstanding ($3.45B), rated BBB by the agencies and trading like A- at a weighted spread of 77 bp.
Short interest Short interest is 4.4% of the free float (15 Oct 2026).
Next results Next results expected around 27 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $15.4B | $14.8B | $13.7B | $13.7B | $12.9B |
| Revenue growth | — | +8% | 0% | +6% | — |
| Gross profit | $2.73B | $2.69B | $2.50B | $2.85B | $2.67B |
| EBITDA | $1.43B | $1.40B | $1.23B | $1.45B | $1.27B |
| Net income | $973M | $921M | $824M | $921M | $861M |
| Free cash flow | $808M | $929M | $650M | $864M | $1.13B |
| Capital expenditure | $503M | $383M | $364M | $402M | $354M |
| Total debt | $4.21B | $4.28B | $3.96B | $4.25B | $3.94B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Textron TXT | $14.2B | -8% | +9% | 7% | 11.9× | 8.3% |
| Embraer S.A. Sponsored ADR EMBJ | $14.1B | +23% | +20% | 8% | 23.6× | 16.9% |
| Bombardier BBD-B.TO | $22.5B | +8% | +11% | 11% | 22.1× | 19.0% |
| Lockheed Martin LMT | $131B | +12% | +8% | 12% | 17.6× | -6.9% |
| Boeing BA | $137B | -27% | +18% | 0% | 179,875.5× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TXT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.1% | +3.0% | highest of 21 |
| 6-month return | -8.2% | -7.6% | 11th highest of 21 |
| Distance from 52-week high | -17.7% | -27.9% | 5th highest of 21 |
| Revenue growth (TTM) | +8.5% | +13.7% | 5th lowest of 21 |
| Operating margin | 6.7% | 11.1% | 5th lowest of 21 |
| Forward P/E | 11.9× | 26.9× | 2nd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 8.3% | 16.2% | 5th least demanding of 14 |
| Growth delivered (Del g) | +4.9% | +8.7% | 2nd lowest of 13 |
| Hurdle (Req g minus delivered) | +3.4 pp | +0.8 pp | 6th most demanding of 13 |
| ROIC minus cost of capital | -0.7 pp | +3.8 pp | 5th lowest of 21 |
| EV / EBITDA | 11.6× | 18.6× | 2nd cheapest of 15 |
| Net debt / EBITDA | 1.8× | 1.8× | 8th least indebted of 15 |
| Bond spread | 77 bp | 80 bp | tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Textron TXT | United States | $14.2B | -8% | +9% | 7% | 11.9× | 8.3% | +4.9% |
| Embraer S.A. Sponsored ADR EMBJ | United States | $14.1B | +23% | +20% | 8% | 23.6× | 16.9% | +14.5% |
| Csg CSG.AS | Netherlands | $14.6B | -20% | +72% | 25% | 11.7× | n/a | n/a |
| AECC Aviation Power 600893.SS | China | $15.8B | -15% | +18% | 2% | 173.7× | n/a | n/a |
| Curtiss-Wright CW | United States | $17.1B | -36% | +11% | 19% | 27.4× | 16.2% | +7.9% |
| Crane CR | United States | $11.6B | +11% | +22% | 18% | 25.8× | 17.5% | -3.5% |
| Huntington Ingalls Industries HII | United States | $11.4B | -8% | +13% | 5% | 14.4× | 5.3% | +5.9% |
| BWX Technologies BWXT | United States | $11.0B | -42% | +18% | 10% | 23.8× | 19.6% | +8.5% |
| FTAI Aviation FTAI | United States | $18.4B | -33% | +46% | 23% | 16.7× | n/a | n/a |
| Jonhon Optronic Technology 002179.SZ | China | $10.7B | -7% | +6% | 11% | 30.4× | n/a | n/a |
| Moog MOG-A | United States | $10.3B | +3% | +16% | 12% | 27.8× | 15.1% | +6.0% |
| Hensoldt HAG.DE | Germany | $10.0B | +2% | +15% | 10% | 41.3× | 12.2% | +15.3% |
| AVIC Xi'an Aircraft Industry 000768.SZ | China | $9.92B | +1% | -34% | 3% | 55.7× | n/a | n/a |
| AVIC Shenyang Aircraft 600760.SS | China | $20.8B | +4% | -1% | 8% | 45.1× | n/a | n/a |
| MTU Aero Engines MTX.DE | Germany | $20.9B | +21% | +12% | 13% | 18.5× | 6.3% | +17.1% |
| Arxis ARXS | United States | $21.5B | +42% | +114% | 20% | 54.2× | 58.8% | n/a |
| Leonardo DRS DRS | United States | $9.08B | -18% | +9% | 11% | 23.1× | 4.6% | +5.6% |
| Bombardier BBD-B.TO | Canada | $22.5B | +8% | +11% | 11% | 22.1× | 19.0% | +8.9% |
| Singapore Technologies Engineering S63.SI | Singapore | $22.6B | -13% | +11% | 9% | 27.3× | 5.3% | +11.5% |
| Raytron Technology 688002.SS | China | $8.64B | -15% | +84% | 29% | 26.4× | 20.1% | +32.1% |
| AVIC Airborne Systems 600372.SS | China | $8.36B | -11% | -2% | 5% | 48.1× | n/a | n/a |
Textron has 9 bonds outstanding with $3.45B face value. The agencies rate it BBB; its bonds trade like A-. Weighted yield 5.41%, a spread of 77 bp over government bonds.
Textron reported $19.0B of remaining performance obligations at 3 Oct 2026, down 1% from a year earlier and up 1% from the previous quarter. That is 1.2 years of trailing revenue already under contract. Book-to-bill last quarter: 1.03.