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Explore the firm VCr scorecards

All business models create value (e.g., through production, FDI, innovation), but may also derive revenue and profits from extractive value transfers (e.g., through entry barriers, protectionist policies, subsidies). The sustainability of a firm is measured by the proportion of value creation relative to value transfers.

The VCr Firm Scorecard places each firm in one of nine Classes, from V1 (the highest and most inclusive) through the X tier down to Z2 (the most extractive), and benchmarks its VCr score against sector-VCr and country-VCr baselines.

A bar displays the VCr and VCp, breaking down revenue and total value creation into monetary amounts for Net Value Creation, transfer-OUT, and transfer-IN (in US$).

The Power and Value Sub-Ratings and the four Rating Areas show where inclusive or extractive transfers originate from in the political economy, while two analytical tools aggregate the Metrics by Stakeholder type (for management) and by Theme (for investors).

‘The Critical 42’ SVC Metrics, selected algorithmically by data availability, country, industry, and materiality, are each quantified as a monetary equivalent of transfer-IN or transfer-OUT, and align with P&L accounting.

VCr2026 Firm Scorecard

Rtx Corporation

US75513E1010, Industrials, United States, revenue US$88.6bn

V41.04

VCr rank 334 / 1,000

extractiveLowestZ2Z1X3X2X1

1.00

generativeV4V3V2V1Highest

V4 Generative (1.00 – 1.14) Value creation and revenue are in a positive balance; inclusive transfers offset extractive transfers.

VCr and VCp (Level 1): The firm’s Sustainable Value Creation

VCr1.04

A firm’s total value creation relative to the value it appropriates as revenue.

VCp96.0%

The percentage of a firm’s revenue that is genuine value creation and does not stem from extractive transfers.

transfer-IN4.0%

‘Value appropriated but not created’, as a share of revenue.

transfer-OUT7.9%

‘Value created but not appropriated’, as a share of revenue.

The VCr in Relation to the sector-VCr and country-VCr Baselines

extractive
Value Transfer tINgenerative
NetVC + tOUT Value Creation
country-VCr Baseline
sector-VCr Baseline

Business Model Value Creation: Transfers & Monetization

transfer-IN (tIN is extractive revenue)‘value appropriated but not created’$3,526 mio.
Net Value Creation (NetVC is inclusive revenue)‘value created and appropriated’$85,077 mio.
Revenue = NetVC + tIN$88,603 mio.
transfer-OUT (tOUT is inclusive non-revenue)‘value created but not appropriated’$6,983 mio.
Value Creation = NetVC + tOUT$92,060 mio.

VCr (Levels 2 & 3): Political Economy Subratings, Rating Areas & Pillars

Sub-Ratings
Rating Areas
Pillars

I. Power$3,522 mio.

Non-market Power (i)

-$707 mio.
  • 0.00%$0 mio.rank 447 / 1,000
  • -0.68%-$601 mio.rank 989 / 1,000transfer-IN
  • -0.12%-$106 mio.rank 955 / 1,000transfer-IN

Market Power (ii)

$4,229 mio.
  • -0.04%-$35 mio.rank 524 / 1,000transfer-IN
  • 0.07%$64 mio.rank 149 / 1,000transfer-IN
  • 4.74%$4,200 mio.rank 56 / 1,000transfer-OUT

II. Value-$64 mio.

Non-market Value (iii)

-$676 mio.
  • 0.09%$77 mio.rank 254 / 1,000transfer-OUT
  • -0.14%-$127 mio.rank 734 / 1,000transfer-IN
  • -0.71%-$627 mio.rank 713 / 1,000transfer-IN

Market Value (iv)

$612 mio.
  • 1.27%$1,128 mio.rank 117 / 1,000transfer-OUT
  • -0.94%-$833 mio.rank 958 / 1,000transfer-OUT
  • 0.36%$316 mio.rank 239 / 1,000transfer-OUT

SVC Metrics (Level 4): The critical 42 out of the 123 used in the VCr 2026

85% Metrics available

  • i.2rc.LIELitigation Expenses-0.59%
  • rc.CRFCorruption Fines-0.09%
  • Regulatory Capture Pillar-$601 mio.
  • i.3hc.BDGBoard Gender Parity-0.05%
  • hc.ITOInvoluntary Turnover of Employees-0.19%
  • hc.FWHFlexible Working Hours0.07%
  • Human Capture Pillar-$106 mio.
  • ii.4co.CESCoalition Economic Share-0.06%
  • Coalition Dominance Pillar-$35 mio.
  • ii.5fd.MDOMarket Dominance-0.13%
  • fd.PMAOperating Margin0.07%
  • fd.IBMIndependent Board Members0.11%
  • fd.GPAGolden Parachute-0.03%
  • fd.POPPoison Pill-0.03%
  • fd.SPLSuccession Plan0.03%
  • fd.FCOFair Competition0.03%
  • fd.CCXCash Conversion Asymmetry0.12%
  • fd.SPTSupplier Payment Extraction-0.06%
  • Firm Dominance Pillar$64 mio.
  • ii.6cd.RDER&D Intensity2.41%
  • cd.INTIntangibles2.18%
  • cd.RRCResource Reduction0.15%
  • cd.EWAE-Waste-0.15%
  • cd.GBUGreen Building0.15%
  • Creative Destruction Pillar$4,200 mio.
  • iii.7gi.DONDonations0.05%
  • gi.DIVDividend Reinvestment Balance0.04%
  • Giving Income Pillar$77 mio.
  • iii.8ti.ETREffective Tax Rate-0.23%
  • ti.EXCExecutive Compensation0.06%
  • ti.PPSPay–Performance Sensitivity0.03%
  • Taking Income Pillar-$127 mio.
  • iii.9ui.CEXCarbon Exposure-0.26%
  • ui.SCEScope 3 Emissions-0.51%
  • ui.DAPData Privacy0.08%
  • Unearned Income Pillar-$627 mio.
  • iv.10pv.RCPResponsible Consumption and Production-0.18%
  • pv.GSCGlobal Supply Chain0.18%
  • pv.GRPGreen Products0.18%
  • pv.CGSGoods Cost Intensity1.18%
  • pv.PCRPhysical Climate Risk Exposure-0.08%
  • Producer Value Pillar$1,128 mio.
  • iv.11cv.CEXCapital Expenditures Intensity0.23%
  • cv.FDIForeign Direct Investment0.03%
  • cv.ICRInterest Coverage Ratio-0.50%
  • cv.FCEFree Cash Flow to Equity-0.13%
  • cv.FCDFree Cash Flow to Debt-0.10%
  • cv.EPSEconomic Profit Spread (ROIC – WACC)0.05%
  • cv.GWSGoodwill Share of Total Assets-0.54%
  • Capital Value Pillar-$833 mio.
  • iv.12lv.PLIPension Liabilities0.15%
  • lv.LPRLabor Productivity0.19%
  • Labor Value Pillar$316 mio.

Stakeholders: Top 3 of 12

Analytical Tool 1: Strategy focus for Management

  • SYS9Society4.63%$4,106 mio.
  • DIR2Suppliers1.42%$1,255 mio.
  • STG7Government-0.91%-$810 mio.

Themes: Top 3 of 17

Analytical Tool 2: Finance focus for Investors

  • MAN3Innovation & Intrapreneurship2.41%$2,131 mio.
  • MAN5Intangible Assets & Brands2.02%$1,788 mio.
  • OPE7Supply Chain & Resilience1.42%$1,255 mio.

VCr comparison tool

Compare the VCr and VCp performance of up to eight companies.

  • 🇺🇸 Datadog Inco. (prerein.)
  • 🇨🇦 Cdn.pac.kc.ltd.
CompanyVCrVCr ClassVCptransfer-INtransfer-OUTRank
Datadog Inco. (prerein.)Technology1.29V393.3%6.7%35.3%13
Cdn.pac.kc.ltd.Industrials0.96X182.1%17.9%14.1%721

Reports to download

Access the VCr reports and related documents.

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Sustainable Value Matrix

How do your favorite businesses or companies that you plan to buy shares in fare? Explore where VCr-rated firms sit in the Sustainable Value Matrix. You can select up to three companies and compare them.

  • 🇺🇸 Axon Enterprise Inco.
  • 🇺🇸 Affirm Holdings Inco.

See which quadrant of the Sustainable Value Matrix your chosen companies fall into and what their position reveals about how their business models combine value creation with profitability.

LowFirm performance (profits)High

Axon Enterprise Inco.VCr 1.21, margin 4.5% Affirm Holdings Inco.VCr 0.87, margin 45.3%

LowSustainable Value Creation (VCr)High

Both splits are the medians of the rated universe: a VCr of 1.01 and a net margin of 13.0%.
  • 🇺🇸 Axon Enterprise Inco.‘Naïve’ firm
  • 🇺🇸 Affirm Holdings Inco.‘Rentier’ firm