FirmAtlas
Company handbook · TDG · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
TDG · CIK 1260221 · LATEST FILING: 10-Q JUN '26 · FILED AUG 4, 2026
TransDigm Group Incorporated
$1,139.34
+5.10 (+0.45%)
Close, Oct 16, 2026 · 52-week $1,071–1,463
TransDigm makes aircraft parts — such as pumps, valves, motors, actuators, seat belts and cockpit parts — mostly its own designs and often as the only supplier. Much of its revenue is from replacement parts for aircraft already flying.
Business
- SegmentsPower And Control 52% · Airframe 47% · Non Aviation Related Business 2% (FY25)
- RegionsUS 63% · Outside US 37% (FY25)
- CustomersAirlines, aircraft makers, repair shops, parts distributors and the U.S. and other governments; sold directly and through distributors
- Cash useFY24–FY25: acquisitions $2.8B · dividends $2.2B · buybacks $500M · capex $387M
Reinvested 77% of operating cash flow · returned 73% of free cash flow
Last fiscal year
TransDigm Group Incorporated reported revenue of $8.8B for the year ended Sep 30, 2025 (FY25), up 11.2% from FY24. Net income was $2.1B, operating cash flow $2.0B and free cash flow $1.8B. Source: 10-K filed Nov 12, 2025.
Market cap
$66.3B
P/E
31.1
EV/EBITDA
20.4x
P/B
n/m
ROIC
23.1%
Revenue 1Y
11.2%/yr
EPS 1Y
25.2%/yr
Shares 1Y
+0.7%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOMike Lisman
HQCleveland, OH
AuditorErnst & Young LLP
Year endsSeptember
Revenue by segment · FY25
Power And Control52%
Airframe47%
Non Aviation Related Business2%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
15.2%
12.2%
9.7%
−8.8%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$5.8B deployed
Capex
$387M
6.6%
Acquisitions
$2.8B
47.3%
Dividends
$2.2B
37.6%
Buybacks
$500M
8.5%
Operating cash flow over the period: $4.1B. Total debt changed by +$4.9B. R&D of $225M is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY25 = year ended Sep 30, 2025 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
7,940
8,831+11.2%
10,008
YoY
+11.2%
Gross profit
4,672
5,311+13.7%
5,961
Gross margin
58.8%
60.1%+1.3 pp
—
Operating income
3,531
4,165+18.0%
4,608
Operating margin
44.5%
47.2%+2.7 pp
—
EBITDA
3,843
4,532+17.9%
—
EBITDA margin
48.4%
51.3%+2.9 pp
—
Interest expense
1,158
1,481+27.9%
—
Interest coverage
3.32x
3.06x−0.26x
—
Net income
1,714
2,074+21.0%
2,129
YoY
+21.0%
Net margin
21.6%
23.5%+1.9 pp
—
EPS (diluted, $)
25.62
32.08+25.2%
—
YoY
+25.2%
Balance sheet
Total assets
25,586
22,909−10.5%
26,754
Cash & short-term investments
6,261
2,808−55.2%
—
Accounts receivable
1,381
1,617+17.1%
—
Inventory
1,876
2,095+11.7%
—
Net PP&E
1,488
1,579+6.1%
—
Other assets
14,580
14,810+1.6%
—
Total liabilities
31,876
32,595+2.3%
36,563
Accounts payable
323
368+13.9%
—
Total debt
24,296
29,167+20.0%
32,621
Other liabilities
7,257
3,060−57.8%
—
Shareholders’ equity
(6,290)
(9,686)n/m
(9,809)
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
2,045
2,038−0.3%
2,198
Net income
1,715
2,074+20.9%
—
Depreciation & amortization
312
367+17.6%
—
Stock-based compensation
188
152−19.1%
—
Working capital & other
(170)
(555)n/m
—
Cash from investing
(2,441)
(595)n/m
—
Capex
(165)
(222)n/m
—
Acquisitions
(2,347)
(419)n/m
—
Other investing
71
46−35.2%
—
Cash from financing
3,171
(4,900)−254.5%
—
Debt raised
6,815
6,015−11.7%
—
Debt repaid
(4,400)
0n/m
—
Dividends
(2,038)
(159)n/m
—
Buybacks
0
(500)n/m
—
Shares issued
245
166−32.2%
—
Other financing
2,549
(10,422)−508.9%
—
Net change in cash
2,789
(3,453)−223.8%
—
Free cash flow (OCF − capex)
1,880
1,816−3.4%
1,927
Where the cash went
Operating cash flow
2,045
2,038−0.3%
2,198
Reinvested in the business
2,512
641−74.5%
—
% of operating cash flow
122.8%
31.5%
Capex
165
222+34.5%
271
Acquisitions
2,347
419−82.1%
—
R&D (memo, already in costs)
107
118+10.3%
—
Free cash flow
1,880
1,816−3.4%
1,927
YoY
−3.4%
Returned to shareholders
2,038
659−67.7%
—
% of free cash flow
108.4%
36.3%
Dividends
2,038
159−92.2%
—
Buybacks
0
500n/m
—
Change in total debt
—
4,871
—
Cash left over
—
5,609
—
FCF conversion (FCF ÷ net income)
109.7%
87.6%−22.1 pp
—
Owner earnings
—
1,809
—
Owner earnings margin
—
20.5%
—
Returns & ratios
ROIC (all capital)
23.3%
23.1%−0.2 pp
—
ROIC (operating)
61.8%
70.3%+8.5 pp
—
Net debt / EBITDA
4.69x
5.82x+1.12x
—
Cash conversion cycle (days)
237
246+9 d
—
ROE
−27.2%
−21.4%+5.8 pp
—
ROA
6.7%
9.1%+2.4 pp
—
ROCE
18.3%
20.1%+1.7 pp
—
NOPAT
2,734
3,286+20.2%
—
Invested capital (operating)
4,422
4,923+11.3%
—
Invested capital (all)
11,745
16,673+42.0%
—
Reinvestment rate
—
15.2%
—
Debtor days
63
67+3 d
—
Inventory days
210
217+8 d
—
Days payable
36
38+2 d
—
Net debt is 5.8x EBITDA (FY25).
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
2,438
2,285
2,544
2,741
vs year-ago quarter
Gross profit
1,470
1,352
1,511
1,628
Gross margin
60.3%
59.2%
59.4%
59.4%
Operating income
1,161
1,042
1,178
1,227
Net income
610
445
535
539
vs year-ago quarter
Net margin
25.0%
19.5%
21.0%
19.7%
EPS (diluted, $)
10.48
6.62
9.20
9.39
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
22,909
23,757
25,442
26,754
Cash & equivalents
2,808
2,528
3,884
2,773
Total debt
29,167
29,197
31,150
32,621
Shareholders’ equity
(9,686)
(9,270)
(9,402)
(9,809)
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
507
832
135
724
Capex
66
60
71
74
Free cash flow
441
772
64
650
vs year-ago quarter