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Research · S&P 500 · Industrials

TXT · Textron

The numbers, the scorecard and what analysts say, with the source for each. Information, not advice.

Price · last 3 months · daily close

TXT price

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Daily closing prices via yfinance. Quotes are delayed. Past prices are not a guarantee of future results.

Value Scorecard · run 2026-10-18

13 value checks: 12 scored 1 to 5 where the data allows, plus moat evidence

33/55
moderate value score11 of 12 checks scored

11 of the 12 checks that carry a score were scored from the data available. 1 could not be scored (ROIC) and was left out, so the score is out of 55 instead of 60. The label uses the same share of the available points as for a full scorecard. The moat is shown as evidence from the filings, without a score.

Earnings & returns

EPS Trend

4/5

Diluted EPS: $4.01 (2022), $4.56 (2023), $4.33 (2024), $5.11 (2025). It rose every year but one and ended above 2022; the framework scores that as 4.

ROE Trend

3/5

ROE (net income / common equity): 12.1% (2022), 13.2% (2023), 11.4% (2024), 11.7% (2025). Median 11.9%, lowest 11.4%; the framework scores a median 10-15% as 3.

ROIC

Not scored

ROIC not available: the 10-K financial data filed with the SEC has no standard operating income figure (or pre-tax income and interest expense), total assets and current liabilities for the same fiscal year.

Profit Margins

3/5

Net margin of 6.1%; the framework scores 5-10% as 3; gross margin 17.6%, operating margin 8.7%.

Balance sheet & cash

Debt-to-Equity

4/5

Debt-to-equity of 0.52; the framework scores 0.3-0.8 as 4 (total debt $4.21B, total cash $1.44B).

Free Cash Flow

2/5

Free cash flow (operating cash flow minus capital expenditure): $1.13B (2022), $864.00M (2023), $650.00M (2024), $929.00M (2025). It ended at or below 2022; the framework scores that as 2.

Retained Earnings

2/5

Retained earnings, as filed in the 10-Ks (SEC EDGAR): $5.90B (2022), $5.86B (2023), $5.61B (2024), $5.78B (2026). It ended at or below 2022; the framework scores that as 2.

Valuation models

Graham IV

4/5

IV = EPS x (8.5 + 2g) x (4.4 / Y) = $5.31 x (8.5 + 2 x 5.8) x (4.4 / 4.5) = $104.36. Current price $75.93; price is 27.2% below the model value.

DCF Value

1/5

FCF/share = $2.604, stage 1 growth = 4.0% for 5 years, terminal growth = 3%, discount rate = 10%. Stage 1 PV = $11.04, PV of terminal value = $28.94, DCF value = $39.98. Current price $75.93; price is 89.9% above the model value.

Margin of Safety

3/5

Graham value $104.36 (price is 27.2% below the model value); DCF value $39.98 (price is 89.9% above the model value).

Price-to-Book

3/5

P/B of 1.62; the framework scores 1.5-3.0 as 3.

Business quality

Moat Evidence

Not scored

A moat (a brand, a network, switching costs, patents, scale, a licence) is not a number in the filings, so Valerius doesn’t score it. Below are the figures and the words moat analysis starts from, from the company’s own 10-K filings. The conclusion is yours.

Return on capital, each year

Not available: the 10-K financial data has no standard figures for operating income, total assets and current liabilities in the same years, as is common for banks, insurers and REITs.

Gross margin, each year

Between 13.4% and 17.8% over 5 years (a range of 4.4 points).

2016: 17.8%, 2017: 16.7%, 2018: 17.0%, 2020: 16.3%, 2021: 13.4%

Competition, in the company’s own words · 10-K filed Feb 11, 2026

The latest 10-K has no section headed “Competition” that could be quoted. Open the filing to read how the company describes its markets.

Return on capital = operating income / (total assets − current liabilities), the ROIC row’s definition; 15% is the framework’s return threshold. Gross margin = gross profit / revenue. Both from each year’s 10-K via SEC EDGAR. Moat analysis commonly looks at whether returns and margins held up over many years. These figures don’t say whether the company has an advantage, what it is, or whether it will last.

Capital Allocation

4/5

Capital allocation, 2022-2025: dividends or buybacks paid in every year (pass); $4.04B paid out against $3.58B of free cash flow (fail: paid out more than free cash flow); total debt $3.56B to $3.88B, up 9.0%, 2.3x EBITDA (pass: not up more than 10%); shares outstanding 0.21B to 0.17B, down 15.5% (pass). 3 of 4 tests passed; the framework scores that as 4.

Filings

Company notices to the SEC

Not scored

Three kinds of event the company reported to the SEC in the last 5 years, from its filings on SEC EDGAR.

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These are events the company reported to the SEC. An auditor change or a late filing can have many causes; each date links to the filing, where the company explains it. Valerius does not score these.

How the Graham and DCF values were calculated
  Graham Formula:
    IV = EPS x (8.5 + 2g) x (4.4 / Y)
    EPS = $5.31, g = 5.8%, Y = 4.5
    IV = $104.36
    Current price $75.93 vs Graham value $104.36 — price is 27.2% below the model value.

  DCF:
    FCF/share = $2.604
    Stage 1 growth = 4.0% for 5 years | terminal growth = 3.0% | discount rate = 10.0%
      Y1: $2.708 → PV $2.462
      Y2: $2.816 → PV $2.327
      Y3: $2.929 → PV $2.200
      Y4: $3.046 → PV $2.080
      Y5: $3.168 → PV $1.967
    Stage 1 PV sum = $11.04
    Terminal value at end of Y5 = $46.61
    PV of terminal value = $28.94
    DCF value = $39.98
    Current price $75.93 vs DCF value $39.98 — price is 89.9% above the model value.

Data from yfinance summary figures and financial statements, and from the company’s 10-K filings via SEC EDGAR; computed at a price of $75.93. Every score is calculated from the figures by the framework’s fixed rules, and the explanation beside it is generated from the same figures: Graham value, DCF value, margin of safety, ROIC, profit margins, debt-to-equity, price-to-book, EPS trend, ROE trend, free cash flow, retained earnings and capital allocation. No AI is involved in this scorecard. The moat is shown as evidence, without a score. Read each score with the figures beside it. A check that cannot be scored from the available data is shown as not scored and left out of the composite score. Intrinsic value calculations are model outputs based on stated assumptions, not predictions.

Recent headlines · third-party publishers · not investment advice

In the news

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The 8 newest headlines whose title names the company, shown automatically and never chosen by Valerius. From third-party publishers via Yahoo Finance, linked to the source. Valerius doesn't write or endorse them. Not investment advice.