olivLaw · US equity research
Textron Inc. TXT
Aircraft & Parts · SIC 3720 · Vertical: Transportation equipment (SIC 372x)
Textron Inc. is a multi-industry American group operating in aviation (Textron Aviation), helicopters and tiltrotors (Bell), defense (Textron Systems), industrial components and specialized vehicles, plus a captive finance unit. Revenues were 14.8 billion USD in 2025, and in July 2026 the company reported that it had started a sale process for the Industrial segment, which makes its current strategic direction worth understanding.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Textron Inc. (TXT) stock was 86.65 USD (−1.25% on the day), with market capitalisation 14.7 bn USD, P/E 15.6 on diluted EPS of 5.56 USD over the last 12 months, dividend yield 0.09%, beta 0.91, 52-week range 73.03–100.77 USD. Latest reported quarter (Q3 2027): revenue of 3.8 bn USD (+4.1% YoY), net income of 270.0 m USD (+15.4% YoY), diluted EPS 1.56 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 66.8
- strong (55–70)
- Bollinger (20, 2)
- 68.90 – 88.97
- in the upper half of the band · %B 0.88 · band width 25.4%
- SMA 50 / 200
- 78.88 / 88.22
- mixed trend
- MACD (12, 26, 9)
- 2.40 / 1.00
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +14.4% | −2.0% | +16.4 pp | — |
| 3 months | −2.0% | −2.2% | +0.1 pp | — |
| 6 months | −6.9% | +4.3% | −11.2 pp | — |
| Year to date | −0.6% | +10.6% | −11.2 pp | — |
| 1 year | +8.6% | +10.5% | −1.8 pp | −1.6% |
| 3 years | +11.8% | +73.7% | −61.9 pp | +60.4% |
| 5 years | +11.9% | +61.7% | −49.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2027 · 03 Oct 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 | Q3 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.6 bn | 3.3 bn | 3.7 bn | 3.6 bn | 4.2 bn | 3.7 bn | 3.8 bn | 3.8 bn |
| Research & development | 116.0 m | 132.0 m | 137.0 m | 118.0 m | 134.0 m | 120.0 m | 116.0 m | 110.0 m |
| SG&A | 265.0 m | 298.0 m | 303.0 m | 257.0 m | 315.0 m | 321.0 m | 311.0 m | 271.0 m |
| Depreciation & amortisation | 103.0 m | 92.0 m | 100.0 m | 97.0 m | 112.0 m | 96.0 m | 94.0 m | 101.0 m |
| Pre-tax income | 131.0 m | 241.0 m | 301.0 m | 316.0 m | 279.0 m | 267.0 m | 304.0 m | 322.0 m |
| Income tax | -10.0 m | 34.0 m | 56.0 m | 81.0 m | 43.0 m | 47.0 m | 56.0 m | 52.0 m |
| Net income | 141.0 m | 207.0 m | 245.0 m | 234.0 m | 235.0 m | 220.0 m | 248.0 m | 270.0 m |
| Diluted EPS | 0.76 ≈ | 1.13 | 1.35 | 1.31 | 1.33 ≈ | 1.25 | 1.42 | 1.56 |
| Operating cash flow | 446.0 m | -124.0 m | 387.0 m ≈ | 349.0 m ≈ | 700.0 m | -117.0 m | 304.0 m ≈ | 425.0 m ≈ |
| Capex | 153.0 m | 56.0 m | 78.0 m | 76.0 m | 173.0 m | 133.0 m | 95.0 m ≈ | 102.0 m ≈ |
| Dividends paid | 4.0 m | 3.0 m | 4.0 m ≈ | 4.0 m ≈ | 7.0 m | 3.0 m | 4.0 m ≈ | 3.0 m ≈ |
| Share repurchases | 232.0 m | 215.0 m | 214.0 m ≈ | 206.0 m ≈ | 187.0 m | 168.0 m | 209.0 m ≈ | 239.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 30 percentile of its own 30-quarter history (min 8.4, median 17.6, max 49.6; quarters with earnings only).
Fiscal years
| Fiscal year | 2017 | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14.2 bn | 14.0 bn | 13.6 bn | 11.7 bn | 12.9 bn | 13.7 bn | 13.7 bn | 14.8 bn |
| Revenue YoY | +3.0% | −1.6% | unavailable | −14.5% | +10.5% | +6.3% | +0.1% | unavailable |
| Net income | 307.0 m | 1.2 bn | 815.0 m | 309.0 m | 861.0 m | 921.0 m | 824.0 m | 921.0 m |
| Net income YoY | −68.1% | +298.0% | unavailable | −62.1% | +178.6% | +7.0% | −10.5% | unavailable |
| Diluted EPS | 1.14 | 4.83 | unavailable | unavailable | 4.01 | 4.56 | 4.33 | 5.11 |
| Diluted EPS YoY | −67.7% | +323.7% | unavailable | unavailable | unavailable | +13.7% | −5.0% | unavailable |
| net % | 2.2% | 8.7% | 6.0% | 2.7% | 6.7% | 6.7% | 6.0% | 6.2% |
| Free cash flow | 513.0 m | 738.0 m | 675.0 m | 451.0 m | 1.1 bn | 864.0 m | 650.0 m | 929.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 03 Jan 2026
- Cash
- 2.0 bn USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 7.9 bn USD
- Total assets
- 18.1 bn USD
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- unavailable
- ROA
- 5.1%
- FCF margin
- 6.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 13.6 bn | 11.7 bn | 12.9 bn | 13.7 bn | 13.7 bn | 14.8 bn | SEC (XBRL)· 11 Feb 2026verified |
| Cost of revenue | 11.4 bn | 10.1 bn | — | — | — | — | SEC (XBRL)· 19 Feb 2021verified |
| Gross profit | 2.2 bn ≈ | 1.6 bn ≈ | — | — | — | — | SEC (XBRL)· 19 Feb 2021derived |
| Research & development | 647.0 m | 549.0 m | 601.0 m | 570.0 m | 491.0 m | 521.0 m | SEC (XBRL)· 11 Feb 2026verified |
| SG&A | 1.2 bn | 1.0 bn | 1.2 bn | 1.2 bn | 1.2 bn | 1.2 bn | SEC (XBRL)· 11 Feb 2026verified |
| Depreciation & amortisation | 416.0 m | 391.0 m | 397.0 m | 395.0 m | 382.0 m | 401.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Interest expense | 171.0 m | 166.0 m | 142.0 m | — | — | — | SEC (XBRL)· 17 Feb 2022verified |
| Pre-tax income | 942.0 m | 282.0 m | 1.0 bn | 1.1 bn | 943.0 m | 1.1 bn | SEC (XBRL)· 11 Feb 2026verified |
| Income tax | 127.0 m | -27.0 m | 154.0 m | 165.0 m | 118.0 m | 214.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Net income | 815.0 m | 309.0 m | 861.0 m | 921.0 m | 824.0 m | 921.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Diluted EPS | — | — | 4.01 | 4.56 | 4.33 | 5.11 | SEC (XBRL)· 11 Feb 2026verified |
| Weighted average diluted shares | 232.7 m | 229.0 m | 215.0 m | 201.8 m | 190.3 m | 180.3 m | SEC (XBRL)· 11 Feb 2026verified |
| Dividend per share | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | SEC (XBRL)· 11 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.4 bn | 2.3 bn | 2.0 bn | 2.2 bn | 1.4 bn | 2.0 bn | SEC (XBRL)· 11 Feb 2026verified |
| Inventories | 4.1 bn | 3.5 bn | 3.6 bn | 3.9 bn | 4.1 bn | 4.3 bn | SEC (XBRL)· 11 Feb 2026verified |
| Property, plant & equipment, net | 2.5 bn | 2.5 bn | 2.5 bn | 2.5 bn | — | — | SEC (XBRL)· 12 Feb 2024verified |
| Intangibles (excl. goodwill) | 589.0 m | 489.0 m | 461.0 m | 399.0 m | 362.0 m | 338.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Total assets | 15.0 bn | 15.4 bn | 16.3 bn | 16.9 bn | 16.8 bn | 18.1 bn | SEC (XBRL)· 11 Feb 2026verified |
| Total liabilities | 9.5 bn | 9.6 bn | 9.2 bn | 9.9 bn | 9.6 bn | 10.3 bn | SEC (XBRL)· 11 Feb 2026verified |
| Equity | 5.5 bn † | 5.8 bn † | 7.1 bn † | 7.0 bn † | 7.2 bn † | 7.9 bn † | SEC (XBRL)· 11 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.0 bn | 768.0 m | 1.5 bn | 1.3 bn | 1.0 bn | 1.3 bn | SEC (XBRL)· 11 Feb 2026verified |
| Capex | 339.0 m | 317.0 m | 354.0 m | 402.0 m | 364.0 m | 383.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Free cash flow | 675.0 m ≈ | 451.0 m ≈ | 1.1 bn ≈ | 864.0 m ≈ | 650.0 m ≈ | 929.0 m ≈ | SEC (XBRL)· 11 Feb 2026derived |
| Investing cash flow | -266.0 m | -248.0 m | -447.0 m | -317.0 m | -284.0 m | -207.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Financing cash flow | -502.0 m | 360.0 m | -1.1 bn | -813.0 m | -1.5 bn | -543.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Dividends paid | 18.0 m | 18.0 m | 17.0 m | 16.0 m | 12.0 m | 18.0 m | SEC (XBRL)· 11 Feb 2026verified |
| Share repurchases | 503.0 m | 183.0 m | 867.0 m | 1.2 bn | 1.1 bn | 822.0 m | SEC (XBRL)· 11 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
- score weight coverage: 58.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 14.7 bn USD
Key indicators
Coverage and freshness
Score by group
58% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 96.28 – 180.06 USD.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E96.28 – 180.06 (Mid 151.17)14 companies used · median multiple 27.2x · quartiles 17.3x – 32.4xAIR, ATRO, BA, CVU, HEI, HON, LOAR, PKE, PRZO, RTX, SARO, SIF, TATT, TDG
- Dividend discount (DDM)outside the aggregate1.05 – 1.41 (Mid 1.21)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 58.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 6.3% | 61 (vs peers) | 11% |
| FCF conversion · Quality | 83.1% | 76 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | 2.6% | 22 (on a fixed band) | 14% |
| EPS CAGR 3Y · Growth | 3.9% | 26 (on a fixed band) | 14% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 15.6x | 82 (vs peers) | 18% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 5.5% | 69 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 5.6% | 80 (on a fixed band) | 11% |
| Payout ratio (FCF) · Returns | 2.1% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/3 factors with a value
- Growth24/100 · 2/2 factors with a value
- Quality68/100 · 2/3 factors with a value
- Returns88/100 · 2/2 factors with a value
- Valuation76/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Textron Inc. (TXT). Latest full fiscal year: 2026; data up to 2026-10-03.
Figures computed from the financial statements: revenue 14.8 bn USD in 2026; net margin 6.3%; ROE 12.5%.
The estimated value range is 96.28–180.06 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 151.17 USD, the price of 86.65 USD leaves a potential of 74.5% (value / price − 1) and a margin of safety of 42.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 58.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 83.1%
- P/E (TTM): 15.6x
- Shareholder yield (distributions): 5.6%
- Payout ratio (FCF): 2.1%
- The price is below the estimated value range
What contradicts it
- Revenue CAGR 3Y: 2.6%
- EPS CAGR 3Y: 3.9%
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, Current ratio, EV/EBITDA.
Versus the vertical median
Transportation equipment (SIC 372x) · same industry group (3-digit SIC) · compared with 29 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| RTXRtx Corporation | 275.0 bn | 33.1 | 12.6% | 8.8% | +9.7% | +17% / +150% |
| BAThe Boeing Company | 137.3 bn | 18.2 | — | 8.1% | +34.5% | −8% / −25% |
| HONHoneywell International Inc | 71.1 bn | 10.7 | 36.0% | 21.0% | +7.8% | +11% / +16% |
| TDGTransDigm Group Incorporated | 66.8 bn | 33.8 | — | 21.3% | +11.2% | −11% / +25% |
| EMBJEmbraer S.A. | 56.8 bn | 163.6 | 10.8% | 4.6% | +18.5% | +25% / +349% |
| ESLTElbit Systems Ltd | 32.7 bn | 61.8 | 14.4% | 6.7% | +16.3% | +50% / +248% |
| TXTTextron Inc. | 14.7 bn | 15.6 | 12.5% | 6.3% | unavailable | +9% / +12% |
| HEIHeico Corporation | 9.1 bn | 56.1 | 18.7% | 16.4% | +16.3% | +7% / +97% |
| SAROStandardAero, Inc. | 8.5 bn | 26.6 | 12.3% | 5.1% | +15.8% | −2% / unavailable |
| LOARLoar Holdings Inc. | 6.5 bn | 0.5 | 5.8% | 11.6% | +23.2% | +2% / unavailable |
| AVAVAerovironment, Inc. | 5.8 bn | — | -4.6% | -10.1% | +140.9% | −59% / −18% |
| JOBYJoby Aviation, Inc. | 5.0 bn | — | -65.9% | -755.1% | +39,183.1% | −65% / −15% |
| KRMNKarman Holdings Inc. | 4.5 bn | 118.5 | 9.5% | 6.3% | +36.6% | −49% / unavailable |
| AIRAar Corp | 4.4 bn | 22.2 | 12.9% | 5.5% | +19.0% | +31% / +57% |
| ACHRArcher Aviation Inc. | 3.2 bn | — | -44.8% | -11,589.9% | unavailable | −47% / −31% |
| DCODucommun Incorporated | 2.4 bn | — | -3.0% | -2.4% | +4.9% | +70% / +210% |
| ATROAstronics Corporation | 1.9 bn | 30.4 | 33.7% | 8.4% | +8.4% | +32% / +385% |
| BETABETA Technologies, Inc. | 951.1 m | — | -46.8% | -1,007.8% | +136.0% | −7% / unavailable |
| PKEPark Aerospace Corp. | 544.8 m | 34.4 | 11.1% | 18.4% | +18.2% | +28% / +64% |
| TATTTat Technologies Ltd | 494.3 m | 27.8 | 11.7% | 9.4% | +17.0% | −1% / +293% |
| AIROAIRO Group Holdings, Inc. | 171.0 m | — | -3.6% | -23.9% | +4.6% | −37% / unavailable |
| SIFSIFCO Industries, Inc. | 118.5 m | 29.6 | 10.3% | 4.0% | +6.5% | +201% / +452% |
| CVUCpi Aerostructures, Inc. | 64.0 m | 17.0 | 14.4% | 5.1% | −14.6% | +72% / +104% |
| MOBMobilicom Limited | 36.5 m | — | -369.2% | -705.4% | +5.8% | −58% / +115% |
| UAVSAgEagle Aerial Systems Inc. | 21.8 m | — | -106.1% | -276.5% | −4.3% | −74% / −100% |
1- and 3-year price returns: for TXT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 51.97 Total return -40% · Per year -40% | 91.97 Total return 6% · Per year 6% | 138.64 Total return 60% · Per year 60% |
| 3 years | 48.58 Total return -44% · Per year -17% | 96.90 Total return 12% · Per year 4% | 160.66 Total return 86% · Per year 23% |
| 5 years | 45.41 Total return -47% · Per year -12% | 102.10 Total return 18% · Per year 3% | 186.17 Total return 116% · Per year 17% |
- Exit P/E± 24.23
- Net margin± 16.96
- Annual revenue growth± 14.17
- Annual dilution± 1.42
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 28 Jul 2026; since then the company filed 8-K (29 Oct 2026 · results), 10-Q (29 Oct 2026).
In brief
Textron Inc. is a multi-industry American group operating in aviation (Textron Aviation), helicopters and tiltrotors (Bell), defense (Textron Systems), industrial components and specialized vehicles, plus a captive finance unit. Revenues were 14.8 billion USD in 2025 1, and in July 2026 the company reported that it had started a sale process for the Industrial segment 3, which makes its current strategic direction worth understanding.
SWOT
Strengths
- The company has a broad product base across aviation, helicopters and defense, with recognized brands and a global service network 1.
- High backlog and solid orders provide visibility on future revenues 23.
- The captive finance division supports aircraft and helicopter sales by helping customers finance purchases 1.
Weaknesses
Opportunities
Risks
- Dependence on the U.S. Governmentmedium
Contracts can be terminated for convenience or for non-performance, with effects on backlog and revenues 1.
- Cyclical aircraft demandmedium
Demand for business jets and turboprops is cyclical, and orders can be deferred or cancelled in difficult economic conditions 1.
- Tariffs and supply chainslow
Tariffs and supplier problems could raise costs and disrupt production, even though the impact so far has not been material 23.
Investment thesis
What would need to be true (bull case)
What to watch
- Completion of the sale process for the Industrial segment2026
- Evolution of Bell segment margin and inflation-driven costsQ3 2026
- First results under the new segment structure in quarterly reportingQ1 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 28 Jul 2026; since then the company filed 8-K (29 Oct 2026 · results), 10-Q (29 Oct 2026).
The business
Textron describes its activity as a multi-industry business that uses a global network of aircraft, defense, industrial and finance businesses to provide customers with innovative products and services 1. In 2025 the company operated through six operating segments, but the Textron eAviation segment was eliminated as a separate segment from January 4, 2026, with its activities redistributed among Textron Aviation, Textron Systems and corporate expenses 12. Consolidated revenues were 14.8 billion USD in 2025 1, and about 27% came from contracts with the U.S. Government 1.
Segments
Textron Aviation
Textron Aviation manufactures Cessna Citation business jets and Beechcraft and Cessna turboprop aircraft, with an important aftermarket parts and services business. Segment revenues rose 13% in 2025 1, and in the second quarter of 2026 order activity stayed healthy, with the first five Ascend aircraft delivered to NetJets 3.
Textron Systems
Textron Systems develops electronic systems, armored vehicles, Lycoming engines and unmanned systems for military, government and commercial customers 1. The segment reported higher revenues in the second quarter of 2026, notably on armored land vehicles and military training services provided through ATAC 3.
Market context
Textron's markets are general aviation, helicopters, U.S. defense and automotive plastic fuel systems and specialized vehicles. Demand for business jets is cyclical and hard to forecast, and orders convert into revenue depending on production capacity and credit availability 1. The company is principally a North American manufacturer, with 69% of 2025 revenues generated in the U.S. 2, and total backlog stood at 18.9 billion USD on July 4, 2026 2.
Trends
- Commercial tariffsmixed
U.S. tariffs disrupted supply chains, and in February 2026 the Supreme Court ruled that IEEPA tariffs were not authorized, with the company beginning to receive refunds 2. The net effect depends on the evolution of trade policy.
- Business jet demandtailwind
Solid orders in general aviation and turboprop deliveries supported revenues, while the exit from the Powersports business and inflationary pressures changed profitability 13. Demand remains sensitive to economic conditions.
- Cost inflationheadwind
Inflation raised cost of sales in 2025 and in the first half of 2026, reducing gross margin in the manufacturing segments 12. If the pressure persists, margins could stay under strain.
Competitive position
The defense market is highly competitive, with rigorous bidding and pricing pressure, and indefinite-delivery or multi-award contracts can require several bids 1. In business aviation and helicopters, competition comes from companies with comparable product lines, and Textron can lose contracts to rivals 1.
- Lockheed MartinLMT
Competitor in defense programs and military systems, part of the competitive environment for government bids.
- General DynamicsGD
Competitor in armored vehicles and defense systems, relevant to Textron Systems.
- HoneywellHON
Supplier and competitor in aerospace systems and avionics components.
- Piston engine manufacturers for general aviation
Competition in piston engines for general aviation is part of the competitive environment, with no ticker given in the sources.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Stock futures soar after Democratic rout in midtermsThe Hill · 04 Nov 2026 · EN
- Stocks rally after Democrats march to midterm victoriesThe Hill · 04 Nov 2026 · EN
- Overlooked insects are bucking the trend and becoming more abundant, study findsPhys.org · 04 Nov 2026 · EN
- 6 takeaways from Democrats' big wave on election nightNPR News · 04 Nov 2026 · EN
- Latinos' rejection of GOP boosts Dems in Texas upsetsAxios · 04 Nov 2026 · EN
- Ticker : Taco Bell sales recover ; Higher oil prices boost Saudi Aramco profitsSurge — GDELT DOC · 04 Nov 2026 · RO
- Super Micro Rallies on Strong AI Data Center Sales Outlook | Closing BellBloomberg Markets · 03 Nov 2026 · EN
- Shopify Revenue Miss; Yum Brands Jumps on Taco Bell Sales | Stock MoversBloomberg Markets · 03 Nov 2026 · EN
- Yum Brands earnings beat estimates, but cyclospora outbreak weighs on Taco BellCNBC — Top News · 03 Nov 2026 · EN
- Apple and Palantir shares slide in premarket trading following post-bell earningsCNBC World · 03 Nov 2026 · EN
- Wild–urban gradient leads to ecological stratification in Singapore’s long-tailed macaquesNature Cities · 03 Nov 2026 · EN
- Apple reports after the bell. Options traders expect a big moveCNBC — Top News · 02 Nov 2026 · EN
- Is There Anything Left in the Dream of Cold Fusion?Quanta Magazine · 02 Nov 2026 · EN
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- Why The V-22 Osprey Can Only Transition Between Helicopter & Airplane Flight Within A Carefully Controlled Speed RangeSimple Flying · 02 Nov 2026 · EN
- Maternal mental health liveability shaped by composite residential environmental profilesNature Cities · 02 Nov 2026 · EN
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- Centuries-Old Traditions of All Saints’ and All Souls’ DaysHungary Today (HU, EN) · 01 Nov 2026 · EN
- Intel Plunges 29% on Weak Outlook as Tech Selloff Deepens | Closing BellBloomberg Markets · 30 Oct 2026 · EN
SEC filings
- Quarterly report29 Oct 2026
- Current report29 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report28 Jul 2026
- Current report28 Jul 2026Results of operations · Financial statements and exhibits
- Current report01 May 2026Shareholder vote
- Quarterly report30 Apr 2026
- Current report30 Apr 2026Results of operations · Regulation FD disclosure · Other events · Financial statements and exhibits
- Proxy statement05 Mar 2026
- Annual report11 Feb 2026
- Current report02 Feb 2026Departure or appointment of officers
Sources
- [1] Form 10-K, fiscal year ended 2026-01-03 · SEC / Textron Inc. · 11 Feb 2026
- [2] Form 10-Q, quarter ended 2026-07-04 · SEC / Textron Inc. · 28 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Textron Inc. · 28 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.