TransDigm Group (TDG) FY2013 results: revenue $1.9 billion, up 13.2% on the year
TransDigm Group Inc. (TDG) reported revenue of $1.9 billion for fiscal 2013, the year ended 30 September 2013, up 13.2% on the year before. Net income was $303 million, down 6.8%, and diluted earnings per share $2.39. The figures are the company's own, from the 10-K it filed with the SEC on 15 November 2013.
Revenue
$1.9 billion
+13.2% on the year
FY2008FY2013
Operating margin
38.9%
41.2% a year earlier
FY2008FY2013
Net income
$303 million
-6.8% on the year
FY2008FY2013
Diluted EPS
$2.39
-60.0% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
1,924
1,700
1,206
+13.2%
Cost of revenue
875
754
545
+16.0%
Gross profit
1,050
946
661
+11.0%
Gross margin
54.5%
55.6%
54.8%
Research and development
32.1
27.9
19.3
+15.1%
Selling, general and administrative
254
202
134
+26.2%
Operating income
749
700
487
+7.1%
Operating margin
38.9%
41.2%
40.4%
Pre-tax income
448
488
229
-8.1%
Income tax
146
163
77.2
-10.6%
Effective tax rate
32.5%
33.4%
33.6%
Net income
303
325
172
-6.8%
Net margin
15.7%
19.1%
14.3%
Diluted EPS
$2.39
$5.97
$3.17
-60.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
470
414
260
+13.6%
Capital expenditure
35.5
25.2
18.0
+40.8%
Free cash flow
435
389
242
+11.8%
Free cash flow margin
22.6%
22.9%
20.1%
Cash from investing
-502
-876
-1,397
Cash from financing
156
527
1,279
-70.4%
Depreciation and amortisation
73.5
68.2
60.5
+7.8%
Share-based compensation
48.9
22.2
12.6
+120.7%
Buybacks
0.0
0.8
n/a
Dividends paid
1,991
3.3
2.8
+60,262.2%
Dividend per share
$34.85
n/a
n/a
Shares outstanding at period end
n/a
52m
51m
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
-336
1,219
811
Debt
5,731
3,619
3,138
+58.4%
Other liabilities
754
622
564
+21.3%
Total liabilities and equity
6,149
5,460
4,514
+12.6%
Fixed assets
209
173
151
+21.0%
Goodwill
3,344
3,036
2,596
+10.2%
Intangible assets
704
656
483
+7.3%
Cash and equivalents
565
441
376
+28.2%
Receivables
290
236
189
+23.2%
Inventory
414
321
265
+29.0%
Other assets
623
599
453
+4.2%
Total assets
6,149
5,460
4,514
+12.6%
10-K for the year ended 30 September 2013, filed 15 November 2013: the filing.