TransDigm Group INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data TransDigm Group INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	3,171	3,504	3,811	5,223	5,103	4,798	5,429	6,585	7,940	8,831
Cost of revenue	1,443	1,520	1,634	2,414	2,456	2,285	2,330	2,743	3,268	3,520
Gross profit	1,728	1,985	2,177	2,809	2,647	2,513	3,099	3,842	4,672	5,311
Research and development	58.6	73.8	73.8	117	131	106	95	105	107	118
Selling, general and administrative	383	413	450	748	727	685	748	780	980	945
Operating income	1,268	1,483	1,655	1,926	1,751	1,691	2,215	2,923	3,531	4,165
Other non-operating income		-3.02	0	-1	46	51	-11	13	28	47
Pre-tax income	768	837	986	1,063	740	715	1,127	1,716	2,215	2,629
Income tax	182	209	24	222	87	34	261	417	500	555
Income from continuing operations	586	629	962	839	652	680	865	1,298	1,714
Net income to minority interests		0	0	2	1	1	1	1	1	0
Net income	586	597	957	890	699	680	866	1,298	1,714	2,074
EBITDA	1,389	1,624	1,784	2,152	2,034	1,944	2,468	3,191	3,843	4,532
EPS, basic	10.39	7.88	16.20	13.84	8.96	10.41	13.40	22.03	25.62	32.08
EPS, diluted	10.39	7.88	16.20	13.84	8.96	10.41	13.40	22.03	25.62	32.08
Shares, basic (weighted)	53.3	52.5	52.3	53.1	57.3	58.4	58.2	57.2	57.8	58.2
Shares, diluted (weighted)	56.2	55.5	55.6	56.3	57.3	58.4	58.2	57.2	57.8	58.2
Dividend per share	0.00	46.00	0.00	30.00	32.50	0.00	18.50	0.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1,587	651	2,073	1,467	4,717	4,787	3,001	3,472	6,261	2,808
Receivables	576	636	704	1,068	720	791	967	1,230	1,381	1,617
Inventory	724	731	805	1,233	1,283	1,185	1,332	1,616	1,876	2,095
Other current assets	43.4	38.7	74.7	135	240	267	349	420	511	492
Total current assets	2,931	2,134	3,657	4,865	6,960	7,030	5,649	6,738	10,029	7,012
Property, plant and equipment	311	325	388	757	752	770	807	1,255	1,488	1,579
Lease right-of-use assets						94	85	64	61	65
Goodwill	5,679	5,745	6,223	7,820	7,889	8,568	8,641	8,988	10,419	10,612
Intangible assets	1,764	1,718	1,788	2,744	2,610	2,791	2,750	2,747	3,446	3,454
Other non-current assets	41.2	38.2	140	69	167	156	260	242	204	252
Total assets	10,726	9,976	12,197	16,255	18,395	19,315	18,107	19,970	25,586	22,909
Accounts payable	156	149	174	276	218	227	279	305	323	368
Accrued liabilities	344	336	351	675	773	810	721	854	1,216	966
Deferred revenue				18	18	25	45	79	168	143
Short-term debt	52.6	69.5	75.8	80	276	277	76	71	98	124
Total current liabilities	753	871	900	1,538	1,616	1,663	1,426	1,579	6,339	2,182
Long-term debt	9,943	11,394	12,502	16,469	19,384	19,372	19,369	19,330	24,296	29,167
Lease liabilities						79	71	51	43	51
Other non-current liabilities	190	161	204	691	933	705	482	412	468	480
Total liabilities	11,378	12,927	14,006	19,139	22,363	22,225	21,873	21,948	31,869	32,588
Total debt	9,996	11,463	12,578	16,549	19,660	19,649	19,445	19,401	24,394	29,291
Paid-in capital	1,029	1,095	1,209	1,379	1,581	1,830	2,113	2,440	2,819	3,135
Retained earnings	-1,147	-3,187	-2,247	-3,120	-4,359	-3,705	-3,914	-2,621	-7,362	-10,606
Treasury stock	-384	-775	-775	-775	-794	-794	-1,706	-1,706	-1,706	-2,206
Other comprehensive income	-150	-85.1	4	-379	-401	-248	-267	-98	-42	-10
Shareholders' equity	-651	-2,951	-1,808	-2,894	-3,972	-2,916	-3,773	-1,984	-6,290	-9,686
Minority interests			0	10	4	6	7	6	7	7
Total equity	-651	-2,951	-1,808	-2,884	-3,968	-2,910	-3,766	-1,978	-6,283	-9,679
Total liabilities and equity	10,726	9,976	12,197	16,255	18,395	19,315	18,107	19,970	25,586	22,909

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	586	597	957	892	700	681	867	1,299	1,715	2,074
Depreciation and amortization	122	141	129	226	283	253	253	268	312	367
Stock-based compensation	48.3	45.5	58.5	93	93	129	153	135	188	152
Deferred income tax	5.81	-0.92	-152	-1	24	34	-22	3	10	-10
Change in receivables	-80.1	-54.7	-44	-82	352	-78	-190	-212	-84	-212
Change in inventory	-2.07	5.13	-18	-36	-62	79	-134	-261	-104	-156
Change in payables	-6.66	-10.4	18	-1	-62	3	58	12	-11	38
Cash from operations	683	789	1,022	1,015	1,213	913	948	1,375	2,045	2,038
Capital expenditures	-44	-71	-73	-102	-105	-105	-119	-139	-165	-222
Acquisitions	-1,399	-216	-668	-3,976	0	-963	-437	-762	-2,347	-419
Cash from investing	-1,443	-287	-684	-3,889	799	-785	-553	-900	-2,441	-595
Debt issued	1,712	2,938	12,779	4,480	4,114	1,932	0	0	6,815	6,015
Debt repaid	-834	-1,285	-12,174	-77	-75	0	0	-1,122	-4,400	0
Stock issued	30.1	21.2	58	82	116	128	132	215	245	166
Share buybacks	-208	-390	0	0	-19	0	-912	0	0	-500
Dividends paid	-3	-2,582	-56	-1,712	-1,928	-73	-1,091	-38	-2,038	-159
Cash from financing	1,632	-1,444	1,086	2,271	1,230	-70	-2,148	-16	3,171	-4,900
Exchange rate effect	0.24	5.52	-2	-3	8	12	-33	12	14	4
Net change in cash	873	-936	1,422	-606	3,250	70	-1,786	471	2,789	-3,453
Free cash flow	639	718	949	913	1,108	808	829	1,236	1,880	1,816
Interest paid	449	588	635	878	923	1,008	1,057	1,160	1,158	1,481
Income taxes paid	183	185	129	215	223	83	220	260	539	640

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 27, 2026; growth uses fiscal years. Valuation uses the share price of $1,116.20 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	59.6%	Gross profit / revenue.
Operating margin	46.0%	Operating income / revenue.
EBITDA margin	50.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	27.4%	Pre-tax income / revenue.
Net margin	21.3%	Net income / revenue.
FCF margin	19.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	22.0%	Cash from operations / revenue.
Effective tax rate	22.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	8.0%	Net income / average total assets.
Return on invested capital (ROIC)	17.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	11.1%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.7%	Capital expenditures / revenue.
D&A / revenue	4.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	11.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	17.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	11.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	13.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	19.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	14.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	18.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	23.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	18.9%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	17.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	22.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	17.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	21.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	33.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	24.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	25.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	33.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	29.1%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-0.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	29.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	10.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-3.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	29.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	10.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-10.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	4.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.02x	Current assets / current liabilities.
Quick ratio	1.78x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.08x	(Cash + short-term investments) / current liabilities.
Debt / assets	122.4%	Total debt / total assets.
Liabilities / assets	136.3%	Total liabilities / total assets.
Net debt	$29.99B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	5.97x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$5.20B	Current assets - current liabilities.
Goodwill and intangibles / assets	63.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$26.70B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.37x	Revenue / average total assets.
Fixed asset turnover	5.75x	Revenue / average property, plant and equipment.
Inventory turnover	1.56x	Cost of revenue / average inventory.
Days inventory	233 days	365 x average inventory / cost of revenue.
Receivables turnover	5.51x	Revenue / average receivables.
Days sales outstanding	66 days	365 x average receivables / revenue.
Days payables	39 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	260 days	Days inventory + days sales outstanding - days payables.
FCF conversion	90.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	12.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$37.09	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$174.36	Revenue / diluted weighted shares.
FCF per share	$33.57	Free cash flow / diluted weighted shares.
Operating cash flow per share	$38.29	Cash from operations / diluted weighted shares.
Book value per share	-$170.89	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$465.14	Tangible book value / shares outstanding.
Cash per share	$48.31	(Cash + short-term investments) / shares outstanding.
Payout ratio	248.6%	Dividends paid / net income, when net income is positive.
Dividends / FCF	274.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	93.8%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$61.70B	Share price x shares outstanding.
Enterprise value	$91.69B	Market cap + total debt - cash - short-term investments.
P/E	29.0x	Market cap / net income. Only when net income is positive.
P/S	6.17x	Market cap / revenue.
P/FCF	32.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	28.1x	Market cap / cash from operations, when positive.
EV/Sales	9.16x	Enterprise value / revenue.
EV/EBIT	19.9x	Enterprise value / operating income, when both are positive.
EV/EBITDA	18.2x	Enterprise value / EBITDA, when both are positive.
EV/FCF	47.6x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.1%	Free cash flow / market cap.
Earnings yield	3.5%	Net income / market cap (the inverse of P/E).
Dividend yield	8.6%	Dividends paid over the period / market cap.
Shareholder yield	11.5%	(Dividends paid + share buybacks) / market cap.
PEG	0.86x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was TransDigm Group INC's revenue in fiscal 2025?

TransDigm Group INC reported revenue of $8.83B for fiscal 2025, 11.2% higher than the year before.

Was TransDigm Group INC profitable in fiscal 2025?

Yes. Net income was $2.07B, a net margin of 23.5%.

How much free cash flow did TransDigm Group INC generate in fiscal 2025?

Cash from operations of $2.04B minus capital expenditures of $222.0M left free cash flow of $1.82B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to TransDigm Group INC