NYSE: TDG
TransDigm Group
Industrials · Aircraft Parts & Auxiliary Equipment, NEC
52-week range
$1,071.25$1,463.03
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.$73.2B
Show tableHide table
| Period | Market cap |
|---|---|
| FY2016, ended Sep 30, 2016 | $15.4B |
| FY2017, ended Sep 30, 2017 | $13.3B |
| FY2018, ended Sep 30, 2018 | $19.6B |
| FY2019, ended Sep 30, 2019 | $27.9B |
| FY2020, ended Sep 30, 2020 | $25.9B |
| FY2021, ended Sep 30, 2021 | $34.5B |
| FY2022, ended Sep 30, 2022 | $28.5B |
| FY2023, ended Sep 30, 2023 | $46.6B |
| FY2024, ended Sep 30, 2024 | $80.2B |
| FY2025, ended Sep 30, 2025 | $74.2B |
| Trailing 12 months to Jun 27, 2026 (through Q3 FY2026) | $73.2B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.$10.0B
Show tableHide table
| Period | Revenue |
|---|---|
| FY2016, ended Sep 30, 2016 | $3.17B |
| FY2017, ended Sep 30, 2017 | $3.50B |
| FY2018, ended Sep 30, 2018 | $3.81B |
| FY2019, ended Sep 30, 2019 | $5.22B |
| FY2020, ended Sep 30, 2020 | $5.10B |
| FY2021, ended Sep 30, 2021 | $4.80B |
| FY2022, ended Sep 30, 2022 | $5.43B |
| FY2023, ended Sep 30, 2023 | $6.58B |
| FY2024, ended Sep 30, 2024 | $7.94B |
| FY2025, ended Sep 30, 2025 | $8.83B |
| Trailing 12 months to Jun 27, 2026 (through Q3 FY2026) | $10.0B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Sep 30, 2016 | $586M | $639M |
| FY2017, ended Sep 30, 2017 | $597M | $718M |
| FY2018, ended Sep 30, 2018 | $957M | $949M |
| FY2019, ended Sep 30, 2019 | $890M | $913M |
| FY2020, ended Sep 30, 2020 | $699M | $1.11B |
| FY2021, ended Sep 30, 2021 | $680M | $808M |
| FY2022, ended Sep 30, 2022 | $866M | $829M |
| FY2023, ended Sep 30, 2023 | $1.30B | $1.24B |
| FY2024, ended Sep 30, 2024 | $1.71B | $1.88B |
| FY2025, ended Sep 30, 2025 | $2.07B | $1.82B |
| Trailing 12 months to Jun 27, 2026 (through Q3 FY2026) | $2.13B | $1.93B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.$2.77B
Show tableHide table
| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Sep 30, 2016 | $1.59B |
| FY2017, ended Sep 30, 2017 | $651M |
| FY2018, ended Sep 30, 2018 | $2.07B |
| FY2019, ended Sep 30, 2019 | $1.47B |
| FY2020, ended Sep 30, 2020 | $4.72B |
| FY2021, ended Sep 30, 2021 | $4.79B |
| FY2022, ended Sep 30, 2022 | $3.00B |
| FY2023, ended Sep 30, 2023 | $3.47B |
| FY2024, ended Sep 30, 2024 | $6.26B |
| FY2025, ended Sep 30, 2025 | $2.81B |
| Trailing 12 months to Jun 27, 2026 (through Q3 FY2026) | $2.77B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.$32.8B
Show tableHide table
| Period | Total debt |
|---|---|
| FY2016, ended Sep 30, 2016 | $10.00B |
| FY2017, ended Sep 30, 2017 | $11.5B |
| FY2018, ended Sep 30, 2018 | $12.6B |
| FY2019, ended Sep 30, 2019 | $16.5B |
| FY2020, ended Sep 30, 2020 | $19.7B |
| FY2021, ended Sep 30, 2021 | $19.6B |
| FY2022, ended Sep 30, 2022 | $19.4B |
| FY2023, ended Sep 30, 2023 | $19.4B |
| FY2024, ended Sep 30, 2024 | $24.4B |
| FY2025, ended Sep 30, 2025 | $29.3B |
| Trailing 12 months to Jun 27, 2026 (through Q3 FY2026) | $32.8B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 3.6% since 2016.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.55.3M
Show tableHide table
| Period | Shares outstanding |
|---|---|
| FY2016, ended Sep 30, 2016 | 53.3M |
| FY2017, ended Sep 30, 2017 | 52.0M |
| FY2018, ended Sep 30, 2018 | 52.7M |
| FY2019, ended Sep 30, 2019 | 53.5M |
| FY2020, ended Sep 30, 2020 | 54.4M |
| FY2021, ended Sep 30, 2021 | 55.2M |
| FY2022, ended Sep 30, 2022 | 54.4M |
| FY2023, ended Sep 30, 2023 | 55.3M |
| FY2024, ended Sep 30, 2024 | 56.2M |
| FY2025, ended Sep 30, 2025 | 56.3M |
| Trailing 12 months to Jun 27, 2026 (through Q3 FY2026) | 55.3M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.Net: $1.66B more bought back than issued
Show tableHide table
| Period | Bought back | Paid to employees |
|---|---|---|
| FY2016, ended Sep 30, 2016 | $208M | $48.3M |
| FY2017, ended Sep 30, 2017 | $390M | $45.5M |
| FY2018, ended Sep 30, 2018 | $0 | $58.5M |
| FY2019, ended Sep 30, 2019 | $0 | $93.0M |
| FY2020, ended Sep 30, 2020 | $19.0M | $93.0M |
| FY2021, ended Sep 30, 2021 | $0 | $129M |
| FY2022, ended Sep 30, 2022 | $912M | $153M |
| FY2023, ended Sep 30, 2023 | $0 | $135M |
| FY2024, ended Sep 30, 2024 | $0 | $188M |
| FY2025, ended Sep 30, 2025 | $500M | $152M |
| Trailing 12 months to Jun 27, 2026 (through Q3 FY2026) | $1.81B | $146M |
Revenue (TTM)
$10.0B
+16.6% YoY
Net income (TTM)
$2.13B
+10.2% YoY
Cash
$2.77B
−0.7% YoY
Total debt
$32.8B
+34.5% YoY
Valuation
At current price- Market Cap
- $63.4B
- P/E
- 29.8×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 6.3×
- Price / Book
- n/m. Market cap / shareholders' equity
- EV / EBITDA
- 18.6×
Growth
Trailing 12 months- Revenue (TTM)
- $10.0B
- Revenue Growth YoY
- 16.6%
- Revenue CAGR 3Y
- 17.6%
- Revenue CAGR 5Y
- 11.6%
- EPS Growth YoY
- 9.5%
- Net Income Growth YoY
- 10.2%
Profitability
Trailing 12 months- Gross Margin
- 59.6%
- Operating Margin
- 46.1%
- Net Margin
- 21.3%
- FCF Margin
- 19.3%
- Return on Equity
- n/m. Net income (TTM) / average equity
Earnings
Trailing 12 months- Net Income
- $2.13B
- EPS (diluted)
- $32.97
- EBITDA
- $5.03B
- Operating Income
- $4.61B
Balance Sheet
As of Jun 27, 2026- Cash and cash equivalents
- $2.77B
- Total Debt
- $32.8B
- Net Debt
- $30.0B
- Total Assets
- $26.8B
- Total Liabilities
- $36.5B
- Shareholders' Equity
- −$9.81B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $2.20B
- Capital Expenditure
- $271M
- Free Cash Flow
- $1.93B
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 0.95
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 16.6% year over year, at $10.0B.
Strength
Keeps 46.1% of revenue as operating profit.
Watch
Net debt is 6.0× EBITDA ($30.0B), a heavy load.
Strength
Turns 19.3% of revenue into free cash flow.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Sep 30, 2025 · filed Nov 12, 2025
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K73Good news
73Good news
10-K for the fiscal year ended Sep 30, 2024
Filed Nov 7, 2024 · Read the filing on EDGAR
- Sales rose 20.6% to $7.94 billion and net income rose 32% to $1.71 billion, with defense, new-aircraft and spare-parts sales all growing.
- Paid out $110 per share in special dividends. The $75 dividend (about $4.35 billion) was partly paid for with $3 billion of new debt.
- Total debt rose from $19.75 billion to $24.88 billion. After the October dividend, available cash falls to about $2.9 billion, but no loans or notes come due before November 2027.
- Spent about $2.35 billion buying companies, including CPI's Electron Device Business ($1.385 billion) and Raptor Scientific ($647 million).
Business momentum
Strong improvement
“Net income attributable to TD Group increased $416 million, or 32.0%, to $1,714 million for the fiscal year ended September 30, 2024”
Outlook
Positive
“The 2025 leading indicators or industry consensus suggest a continuation of current trends supported by continued RPK growth.”
Financial stress
Low
“When considering the impact of the $4,348 million payment in special dividends and dividend equivalents in October 2024, the pro forma cash liquidity as of September 30, 2024 is $2,919 million.”
Tone against the previous report
About the same
Red flags
None found in this report.
Positives
Broad-based sales growth
“The increase in organic sales of $1,067 million for the fiscal year ended September 30, 2024 compared to the fiscal year ended September 30, 2023 is primarily related to increases in defense sales ($486 million, an increase of 18.9%)”
Strong rise in operating cash flow
“The Company generated $2,045 million of net cash from operating activities during fiscal 2024 compared to $1,375 million during fiscal 2023.”
Debt repayments pushed out to late 2027 and beyond
“There is no maturity on any tranche of term loans or notes until November 2027 (fiscal 2028).”
Concerns
Debt now about $24.9 billion
“our total indebtedness, excluding approximately $67 million in letters of credit outstanding, approximately $262 million of finance lease obligation liabilities and approximately $17 million of government refundable advances, was approximately $24 billion”
Interest costs keep rising
“Interest expense-net increased $122 million, or 10.5%, to $1,286 million for the fiscal year ended September 30, 2024 from $1,164 million for the fiscal year ended September 30, 2023.”
Aircraft production rates hard to predict
“Due to these factors, it is difficult to accurately predict the OEM build rates for 2025.”
New risks since the previous report
Borrowing to pay a special dividend pushes debt higher
“Total cash payments, funded by a combination of $3,000 million in new senior secured debt (as previously noted) and existing cash on hand, related to the special dividend and dividend equivalents were approximately $4,348 million.”
New global minimum tax rules starting in key countries
“As of September 30, 2024, a handful of jurisdictions where the Company operates, including Canada, U.K. and Germany, have adopted the Pillar Two Rules.”
AI may increase cyber-attack and data-privacy risks
“The rapid evolution and increased adoption of AI technologies may intensify our cybersecurity risks.”
Receivables-backed credit line now fully used
“On October 16, 2024, the Company drew the remaining $162.5 million available under the Securitization Facility.”
Biggest risks named
- About $25 billion of debt and rising interest costs
- Boeing/Airbus production problems and commercial aerospace cycles
- Uncertain US defense spending and government pricing audits
- Integrating acquisitions and borrowing to pay for them
- Supply shortages and inflation on fixed-price contracts
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +12 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −2 | |
| Score | 73 | |
Written by AI (Claude Opus 5.5) from the report’s text. 13 of 13 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Nov 12, 2025 | Pro | |||
| 10-K | Nov 7, 2024 | 73 | Strong improvement | None | |
| 10-K | Nov 9, 2023 | 74 | Strong improvement | None | |
| 10-K | Nov 10, 2022 | 74 | Strong improvement | 1 minor | |
| 10-K | Nov 16, 2021 | 50 | Weakening | None | |
| 10-K | Nov 12, 2020 | 48 | Weakening | None | |
| 10-K | Nov 19, 2019 | 55 | Mixed | 1 medium | |
| 10-K | Nov 9, 2018 | 74 | Strong improvement | 1 minor | |
| 10-K | Nov 13, 2017 | 65 | Improving | 2 minor | |
| 10-K | Nov 15, 2016 | 71 | Strong improvement | None |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Jun 27, 2026), filed Aug 4, 2026. View filings on SEC EDGAR