S&P 500 · aerospace & defense · Cessna jets & Bell helicopters
Textron
Textron is a US aerospace-and-defense conglomerate built on two pillars — Cessna business jets (Aviation) and Bell helicopters. FY2025 revenue was about $14.8B across four segments: Aviation $5.96B, Bell $4.28B, Industrial $3.21B and Systems $1.25B. The growth trigger is Bell's V-280 Valor winning the US Army's next-generation helicopter (FLRAA/MV-75) in 2022 — a ~$1.3B initial EMD award with ~$70B of potential program value opening decades of revenue. US government sales at ~27% give defense stability, while large fleet customers like NetJets anchor the commercial cycle.
TXT Updated Jul 12, 2026 3 AI consumers
Per the valuechain.wiki graph, Textron is directly linked to 2 companies (2 supply, 0 revenue relationships) and reaches 10 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · ~$14.8B (FY2025)
- Customer concentration · US government ~27% of 2025 revenue; FLRAA (MV-75) drives Bell growth.
- Segments · Textron Aviation ($5.96B) · Bell ($4.28B) · Systems ($1.25B) · Industrial ($3.21B)
Revenue from
- 미 육군 (FLRAA·MV-75) High confidence· contract $1.3B · EMD 초기 계약 · potential program value ~$70B (CRS)
Bell's V-280 Valor won FLRAA in Dec 2022 (MV-75): ~$1.3B initial EMD award, ~$70B potential program value; the main driver of Bell's higher 2025 military revenue. US government overall is 27% of consolidated revenue.Confirms EN Congressional Research Service Published Jun 1, 2025: Future Long-Range Assault Aircraft (FLRAA) - NetJets (버크셔 해서웨이) Medium confidence
Citation fleet customer: options for up to 175 Longitudes and 150 Hemispheres, worth nearly $10B if fully exercised (2018).Confirms EN FLYING Magazine Published Oct 15, 2018: NetJets inks massive deal for Cessna Citation jets
Pays to
- Garmin Medium confidence
Offers all-Garmin avionics retrofits (STC) for Cessna Citation jets, sourcing Garmin systems.Confirms EN Textron Aviation Published Aug 5, 2025: Textron Aviation announces Garmin avionics upgrade for Cessna Citation - 프랫앤휘트니 캐나다 (RTX) Medium confidence
Turboprop engine supplier for Cessna SkyCourier (PT6A-65SC) and Caravan (PT6A); PR-based, not in the 10-K.Confirms EN GlobeNewswire (P&WC) Published Nov 28, 2017: P&WC to power Textron Aviation's SkyCourier
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Textron | node | +59.9 | -8.2 | +13.7 | -4.8 | +14.1 | +4.3 |
| Garmin | benef1 | +15.9 | -30.2 | +43.1 | +63.3 | -0.1 | +20.8 |
| RTX | benef1 | +23.3 | +20 | -14.4 | +40.8 | +61.4 | +7.6 |
| Iridium Communications | benef2 | +5 | +24.5 | -19.1 | -28.1 | -38.5 | +190.7 |
| MDA Space | benef2 | · | -32.6 | +80 | +156.3 | -9.8 | +80.8 |
| Mercury Systems | benef2 | -37.5 | -18.7 | -18.3 | +14.8 | +73.8 | +47.9 |
| Howmet Aerospace | benef2 | +11.7 | +24.2 | +37.8 | +102.7 | +88 | +32.2 |
| L3Harris | benef2 | +15 | -0.5 | +3.7 | +1.9 | +42.3 | -0.2 |
| Northrop Grumman | benef2 | +29.3 | +43 | -12.8 | +1.9 | +23.6 | -4.6 |
| Avio | benef2 | -9.9 | -4.7 | -17.1 | +98.4 | +117 | -10.8 |
| Hanwha Aerospace | benef2 | +19.3 | +70.4 | +74.3 | +163.6 | +227.6 | -25.6 |
YTD as of 2026-07-10 · source: Yahoo Finance
Textron's thesis is a long-dated defense growth option — FLRAA — layered on mature business-jet and helicopter franchises. Aviation (Cessna) and Bell are the cash base at ~70% of revenue, and Bell's V-280 Valor winning the US Army's FLRAA (MV-75) opens the next growth axis for Bell military revenue at ~$70B of lifetime program value — the 2025 rise in Bell revenue is already its start. US government sales at 27% and NetJets fleet options (~$10B) give earnings visibility, while the cost side depends on suppliers like Pratt & Whitney Canada (engines) and Garmin (avionics). Offsetting risks are the cyclicality of business-jet demand and FLRAA development execution. Re-rating triggers are FLRAA EMD progress and the shift to production, business-jet orders, and the defense-budget flow.
Analysis generated from returns as of 2026-07-10