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TransDigm Group

TDG NYSE Aerospace & Defense Financials FY2016–FY2025

TransDigm Group's revenue rose 11.2% to $8.8 billion in fiscal 2025. Its operating margin was 47.2%, up from 44.5% a year earlier. Free cash flow was $1.8 billion, down 3.4%. It paid out $659 million in dividends and buybacks, 36% of free cash flow. The diluted share count rose 0.7%.

Last close · Oct 23, 2026

$1,104.84

3.2%
Value it Compare
Revenue Total sales reported in the income statement.
$8.8B
11.2% vs prior year
Operating margin Operating income as a share of revenue.
47.2%
2.7 pts
Net income Profit after all expenses, interest and tax.
$2.1B
21.0%
Free cash flow Cash from operations minus capital spending.
$1.8B
3.4%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
22.5%
1.7 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$63.4B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
33.5x
On $32.98 EPS (TTM)

What TransDigm Group does

No business description yet.

Legal name
TransDigm Group Incorporated
Fiscal year ends
September 30, 2025
Latest annual report
—
Accession · CIK
0001260221-25-000081
0001260221

Revenue and margins

TransDigm Group had $8.8B of revenue in fiscal 2025, up 11.2% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 13.3% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $1.8B in fiscal 2025, 20.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

TransDigm Group returned $659M to shareholders in fiscal 2025, 36% of free cash flow. The diluted share count rose 0.7%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value TransDigm Group yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$26.8B and divides by 58.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 33.5x · peers 23.5x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably TransDigm Group can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $4.8B$3.0B$3.5B$6.3B$2.8B
Debt incl. finance leases $19.7B$19.6B$19.6B$24.7B$29.6B
Net debt / EBITDA 7.7x6.7x5.1x4.8x5.9x
Interest coverage 1.7x2.1x2.5x3.1x2.8x
Current ratio 4.2x4.0x4.3x1.6x3.2x
Quick ratio 3.5x3.0x3.2x1.3x2.3x
Total assets $19.3B$18.1B$20.0B$25.6B$22.9B
Total liabilities $22.2B$21.9B$21.9B$31.9B$32.6B
Shareholders' equity −$2.9B−$3.8B−$2.0B−$6.3B−$9.7B
Net debt (− = net cash) $15.0B$16.6B$16.1B$18.4B$26.8B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$91.0M

2 insiders

Of sales under plans

80%

$72.6M

DateInsiderTradeSharesPriceValueFiling
Oct 15, 2026 Joel ReissCo-Chief Operating Officer Sold plan 4,100 $1,128.04 $4.6M Form 4
Sep 15, 2026 Joel ReissCo-Chief Operating Officer Sold plan 3,900 $1,094.58 $4.3M Form 4
Aug 18, 2026 Howley W NicholasDirector Sold plan 10,132 $1,236.27 $12.5M Form 4
Aug 17, 2026 Joel ReissCo-Chief Operating Officer Sold plan 3,900 $1,238.76 $4.8M Form 4
Jul 20, 2026 Howley W NicholasDirector Sold plan 10,132 $1,216.08 $12.3M Form 4
Jul 15, 2026 Joel ReissCo-Chief Operating Officer Sold plan 3,486 $1,216.21 $4.2M Form 4
Jul 15, 2026 Joel ReissCo-Chief Operating Officer Sold plan 414 $1,231.11 $0.5M Form 4
Jun 18, 2026 Howley W NicholasDirector Sold 10,132 $1,319.55 $13.4M Form 4
Jun 15, 2026 Joel ReissCo-Chief Operating Officer Sold 3,900 $1,276.78 $5.0M Form 4
May 18, 2026 Howley W NicholasDirector Sold plan 10,132 $1,180.82 $12.0M Form 4
May 15, 2026 Joel ReissCo-Chief Operating Officer Sold plan 3,900 $1,154.09 $4.5M Form 4
Apr 20, 2026 Howley W NicholasDirector Sold plan 10,132 $1,265.06 $12.8M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✕
Debt fell relative to assets ✓ ✕ ✕
Current ratio rose ✓ ✕ ✓
Share count didn't rise ✓ ✕ ✕
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✓ ✓ ✕
F-score 9 / 96 / 94 / 9
Accruals ratio −0.4%−1.5%0.2%
Altman Z'' 2.160.730.78

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
TransDigm Group TDG $63.4B 11.2% 47.2% 20.6% 22.5% 33.5x 4
Howmet Aerospace HWM $74.7B 11.1% 24.8% 17.3% 22.4% 40.1x 7 Compare →
Elbit Systems ESLT $34.5B 16.3% 8.5% 7.0% 18.0% — 8 Compare →
Parsons PSN $5.3B −5.7% 6.6% 6.5% 9.8% 23.5x 7 Compare →
Huntington Ingalls Industries HII $10.8B 8.2% 5.3% 6.4% 7.3% 16.3x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $3.2B $3.5B $3.8B $5.2B $5.1B $4.8B $5.4B $6.6B $7.9B $8.8B
Gross profit $1.7B $2.0B $2.2B $2.8B $2.6B $2.5B $3.1B $3.8B $4.7B $5.3B
Research and development $58.6M $73.8M $73.8M $117M $131M $106M $95.0M $105M $107M $118M
Operating income $1.3B $1.5B $1.7B $1.9B $1.8B $1.7B $2.2B $2.9B $3.5B $4.2B
Interest expense $449M $588M $635M $878M $923M $1.0B $1.1B $1.2B $1.2B $1.5B
Pretax income $768M $837M $986M $1.1B $740M $715M $1.1B $1.7B $2.2B $2.6B
Income tax $182M $209M $24.0M $222M $87.0M $34.0M $261M $417M $500M $555M
Net income $586M $597M $957M $890M $699M $680M $866M $1.3B $1.7B $2.1B
Diluted EPS $10.39 $7.88 $16.20 $13.84 $8.96 $10.41 $13.40 $22.03 $25.62 $32.08
Diluted shares 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B
Cash flow
Cash from operations $683M $789M $1.0B $1.0B $1.2B $913M $948M $1.4B $2.0B $2.0B
Capital expenditure $44.0M $71.0M $73.0M $102M $105M $105M $119M $139M $165M $222M
Free cash flow $639M $718M $949M $913M $1.1B $808M $829M $1.2B $1.9B $1.8B
Depreciation and amortization $122M $141M $129M $226M $283M $253M $253M $268M $312M $367M
Stock-based compensation $48.3M $45.5M $58.5M $93.0M $93.0M $129M $153M $135M $188M $152M
Acquisitions $1.4B $216M $668M $4.0B $0.0M $963M $437M $762M $2.3B $419M
Share buybacks $208M $390M $0.0M $0.0M $19.0M $0.0M $912M $0.0M $0.0M $500M
Dividends paid $3.0M $2.6B $56.0M $1.7B $1.9B $73.0M $1.1B $38.0M $2.0B $159M
Dividends and buybacks $211M $3.0B $56.0M $1.7B $1.9B $73.0M $2.0B $38.0M $2.0B $659M
Balance sheet
Cash and short-term investments $1.6B $651M $2.1B $1.5B $4.7B $4.8B $3.0B $3.5B $6.3B $2.8B
Total debt $10.0B $11.5B $12.6B $16.5B $19.7B $19.6B $19.4B $19.4B $24.4B $29.3B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $57.0M $100M $146M $193M $262M $284M
Current assets $2.9B $2.1B $3.7B $4.9B $7.0B $7.0B $5.6B $6.7B $10.0B $7.0B
Current liabilities $753M $871M $900M $1.5B $1.6B $1.7B $1.4B $1.6B $6.3B $2.2B
Inventory $724M $731M $805M $1.2B $1.3B $1.2B $1.3B $1.6B $1.9B $2.1B
Property and equipment, net $311M $325M $388M $757M $752M $770M $807M $1.3B $1.5B $1.6B
Total assets $10.7B $10.0B $12.2B $16.3B $18.4B $19.3B $18.1B $20.0B $25.6B $22.9B
Total liabilities $11.4B $12.9B $14.0B $19.1B $22.4B $22.2B $21.9B $21.9B $31.9B $32.6B
Shareholders' equity −$652M −$3.0B −$1.8B −$2.9B −$4.0B −$2.9B −$3.8B −$2.0B −$6.3B −$9.7B
Margins
Gross margin 54.5% 56.6% 57.1% 53.8% 51.9% 52.4% 57.1% 58.3% 58.8% 60.1%
Operating margin 40.0% 42.3% 43.4% 36.9% 34.3% 35.2% 40.8% 44.4% 44.5% 47.2%
EBITDA margin 43.8% 46.3% 46.8% 41.2% 39.9% 40.5% 45.5% 48.5% 48.4% 51.3%
Net margin 18.5% 17.0% 25.1% 17.0% 13.7% 14.2% 16.0% 19.7% 21.6% 23.5%
FCF margin 20.2% 20.5% 24.9% 17.5% 21.7% 16.8% 15.3% 18.8% 23.7% 20.6%
Returns
Return on capital 13.7% 14.3% 19.5% 14.6% 13.3% 14.0% 13.7% 16.4% 20.8% 22.5%
Return on capital employed 14.4% 15.5% 16.2% 14.8% 11.1% 9.8% 12.9% 16.7% 18.8% 20.8%
Return on assets 6.2% 5.8% 8.6% 6.3% 4.0% 3.6% 4.6% 6.8% 7.5% 8.6%
Growth
Revenue growth 17.2% 10.5% 8.8% 37.1% −2.3% −6.0% 13.2% 21.3% 20.6% 11.2%
Net income growth 31.1% 1.8% 60.3% −7.0% −21.5% −2.7% 27.4% 49.9% 32.1% 21.0%
EPS growth 32.5% −24.2% 105.6% −14.6% −35.3% 16.2% 28.7% 64.4% 16.3% 25.2%
FCF growth 37.2% 12.3% 32.2% −3.8% 21.4% −27.1% 2.6% 49.1% 52.1% −3.4%
Share count change −0.8% −1.1% 0.1% 1.3% 1.8% 1.9% −0.3% −1.7% 1.1% 0.7%
Financial health
Net debt / EBITDA 6.1x 6.7x 5.9x 7.0x 7.4x 7.7x 6.7x 5.1x 4.8x 5.9x
Interest coverage 2.8x 2.5x 2.6x 2.2x 1.9x 1.7x 2.1x 2.5x 3.1x 2.8x
Current ratio 3.9x 2.5x 4.1x 3.2x 4.3x 4.2x 4.0x 4.3x 1.6x 3.2x
Quick ratio 2.9x 1.6x 3.2x 2.4x 3.5x 3.5x 3.0x 3.2x 1.3x 2.3x
Capital allocation
Capex / revenue 1.4% 2.0% 1.9% 2.0% 2.1% 2.2% 2.2% 2.1% 2.1% 2.5%
Stock comp / revenue 1.5% 1.3% 1.5% 1.8% 1.8% 2.7% 2.8% 2.1% 2.4% 1.7%
Payouts / FCF 33.0% 414.0% 5.9% 187.5% 175.7% 9.0% 241.6% 3.1% 108.4% 36.3%
Quality scores
Piotroski F-score 8.0 5.0 7.0 4.0 5.0 5.0 8.0 9.0 6.0 4.0
Altman Z'' 1.7 0.6 1.7 1.4 1.6 1.7 1.5 2.2 0.7 0.8
Accruals ratio −1.0% −1.9% −0.6% −0.9% −3.0% −1.2% −0.4% −0.4% −1.5% 0.2%

Source: SEC EDGAR XBRL filings (CIK 0001260221). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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