TransDigm Group (TDG) FY2014 results: revenue $2.4 billion, up 23.3% on the year
TransDigm Group Inc. (TDG) reported revenue of $2.4 billion for fiscal 2014, the year ended 30 September 2014, up 23.3% on the year before. Net income was $307 million, up 1.4%, and diluted earnings per share $3.16. The figures are the company's own, from the 10-K it filed with the SEC on 14 November 2014.
Revenue
$2.4 billion
+23.3% on the year
FY2008FY2014
Operating margin
39.1%
38.9% a year earlier
FY2008FY2014
Net income
$307 million
+1.4% on the year
FY2008FY2014
Diluted EPS
$3.16
+32.2% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
2,373
1,924
1,700
+23.3%
Cost of revenue
1,105
875
754
+26.3%
Gross profit
1,268
1,050
946
+20.8%
Gross margin
53.4%
54.5%
55.6%
Research and development
42.3
32.1
27.9
+31.8%
Selling, general and administrative
276
254
202
+8.6%
Operating income
928
749
700
+23.8%
Operating margin
39.1%
38.9%
41.2%
Pre-tax income
449
448
488
+0.0%
Income tax
142
146
163
-2.8%
Effective tax rate
31.6%
32.5%
33.4%
Net income
307
303
325
+1.4%
Net margin
12.9%
15.7%
19.1%
Diluted EPS
$3.16
$2.39
$5.97
+32.2%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
541
470
414
+15.1%
Capital expenditure
34.1
35.5
25.2
-3.9%
Free cash flow
507
435
389
+16.7%
Free cash flow margin
21.4%
22.6%
22.9%
Cash from investing
n/a
-502
-876
Cash from financing
n/a
156
527
Depreciation and amortisation
96.4
73.5
68.2
+31.1%
Share-based compensation
26.3
48.9
22.2
-46.1%
Buybacks
160
0.0
0.8
Dividends paid
1,451
1,991
3.3
-27.1%
Dividend per share
$25.00
$34.85
n/a
-28.3%
Diluted shares, weighted
53m
n/a
n/a
Shares outstanding at period end
n/a
n/a
52m
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
-1,556
-336
1,219
Debt
7,473
5,731
3,619
+30.4%
Other liabilities
840
754
622
+11.4%
Total liabilities and equity
6,757
6,149
5,460
+9.9%
Fixed assets
212
209
173
+1.5%
Goodwill
3,525
3,344
3,036
+5.4%
Intangible assets
1,217
704
656
+72.9%
Cash and equivalents
820
565
441
+45.1%
Receivables
351
290
236
+21.0%
Inventory
459
414
321
+11.0%
Other assets
173
623
599
-72.3%
Total assets
6,757
6,149
5,460
+9.9%
10-K for the year ended 30 September 2014, filed 14 November 2014: the filing.