TransDigm
TDG · NYSEAircraft Parts & Auxiliary Equipment, NEC · Fiscal year ends Sep 30
TransDigm reported revenue of $8.8B in the fiscal year ended Sep 2025, up 11.2% from the year before. Operating income was $4.2B, an operating margin of 47.2%, and net income was $2.1B. Operating cash flow of $2B less capital expenditure of $222M left free cash flow of $1.8B. Net debt was $26.6B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | $4.8B | $5.4B | $6.6B | $7.9B | $8.8B |
| Cost of revenue | $2.3B | $2.3B | $2.7B | $3.3B | $3.5B |
| Gross profit | $2.5B | $3.1B | $3.8B | $4.7B | $5.3B |
| Research & development | $106M | $95M | $105M | $107M | $118M |
| Selling, general & admin | $685M | $748M | $780M | $980M | $945M |
| Operating income | $1.7B | $2.2B | $2.9B | $3.5B | $4.2B |
| Net interest incomeBanks | −$1.1B | −$1.1B | −$1.2B | −$1.3B | −$1.6B |
| Pre-tax income | $715M | $1.1B | $1.7B | $2.2B | $2.6B |
| Income tax | $34M | $261M | $417M | $500M | $555M |
| Net income | $680M | $866M | $1.3B | $1.7B | $2.1B |
| Diluted EPS | 10.41 | 13.40 | 22.03 | 25.62 | 32.08 |
| Diluted shares | 58M | 58M | 57M | 58M | 58M |
Balance sheet
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $4.8B | $3B | $3.5B | $6.3B | $2.8B |
| Receivables | $791M | $967M | $1.2B | $1.4B | $1.6B |
| Inventory | $1.2B | $1.3B | $1.6B | $1.9B | $2.1B |
| Current assets | $7B | $5.6B | $6.7B | $10B | $7B |
| Net PP&E | $770M | $807M | $1.3B | $1.5B | $1.6B |
| Goodwill | $8.6B | $8.6B | $9B | $10.4B | $10.6B |
| Total assets | $19.3B | $18.1B | $20B | $25.6B | $22.9B |
| Payables | $227M | $279M | $305M | $323M | $368M |
| Deferred revenue | $25M | $45M | $79M | $168M | $143M |
| Current liabilities | $1.7B | $1.4B | $1.6B | $6.3B | $2.2B |
| Short-term debt | $277M | $76M | $71M | $98M | $124M |
| Long-term debt | $19.6B | $19.4B | $19.4B | $24.4B | $29.3B |
| Total liabilities | $22.2B | $21.9B | $21.9B | $31.9B | $32.6B |
| Shareholders' equity | −$2.9B | −$3.8B | −$2B | −$6.3B | −$9.7B |
Cash flow
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $913M | $948M | $1.4B | $2B | $2B |
| Capital expenditure | $105M | $119M | $139M | $165M | $222M |
| Free cash flow | $808M | $829M | $1.2B | $1.9B | $1.8B |
| Depreciation & amortisation | $253M | $253M | $268M | $312M | $367M |
| Stock-based compensation | $129M | $153M | $135M | $188M | $152M |
| Acquisitions | $963M | $437M | $762M | $2.3B | $419M |
| Share buybacks | $0 | $912M | $0 | $0 | $500M |
| Dividends paid | $73M | $1.1B | $38M | $2B | $159M |
| Dividend per share | 0.00 | 18.50 | 0.00 | – | – |
Key ratios
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 13.2% | 21.3% | 20.6% | 11.2% |
| Operating income growth (YoY) | – | 31.0% | 32.0% | 20.8% | 18.0% |
| EPS growth (YoY) | – | 28.7% | 64.4% | 16.3% | 25.2% |
| Gross margin | 52.4% | 57.1% | 58.3% | 58.8% | 60.1% |
| Operating margin | 35.2% | 40.8% | 44.4% | 44.5% | 47.2% |
| Net margin | 14.2% | 16.0% | 19.7% | 21.6% | 23.5% |
| ROCEEBIT ÷ (assets − current liabilities) | 9.6% | 13.3% | 15.9% | 18.3% | 20.1% |
| Free cash flow margin | 16.8% | 15.3% | 18.8% | 23.7% | 20.6% |
| Cash conversion (CFO ÷ net income) | 1.34x | 1.09x | 1.06x | 1.19x | 0.98x |
| Receivable days | 60 | 65 | 68 | 63 | 67 |
| Inventory days | 189 | 209 | 215 | 210 | 217 |
| Payable days | 36 | 44 | 41 | 36 | 38 |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $15.1B | $16.5B | $16B | $18.2B | $26.6B |
| Current ratio | 4.23x | 3.96x | 4.27x | 1.58x | 3.21x |
Recent filings
More in Aircraft Parts & Auxiliary Equipment, Nec
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.