We present a combined analysis of XMM-Newton, Chandra and Rosat observations of the isolated neutron star RX J0720.4-3125, spanning a total period of sim 7 years. We develop a maximum likelihood periodogramme based on Delta C statistic and maximum likelihood method, which are appropriate for sparse event lists. As an a posteriori check, we have folded a further BeppoSAX dataset with the period predicted at the time of that observation, finding that the phase is consistent. The value of the spin down rate, here measured for the first time, is approx 10^{-14} s/s and can not be explained in terms of propeller or torque from a fossil disk. When interpreted in terms of dipolar losses, it gives a magnetic field of B approx 10^{13} G, making also implausible that the source is accreting from the underdense surroundings. We discuss the implications of this measure for the different mechanisms that have been suggested to explain the X-ray emission. We conclude that the observed properties are more compatible with a scenario in which the source is approx 10^6 yrs old, and its magnetic field has not changed substantially over the lifetime.
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