TransDigm Group (TDG) FY2015 results: revenue $2.7 billion, up 14.1% on the year
TransDigm Group Inc. (TDG) reported revenue of $2.7 billion for fiscal 2015, the year ended 30 September 2015, up 14.1% on the year before. Net income was $447 million, up 45.7%, and diluted earnings per share $7.84. The figures are the company's own, from the 10-K it filed with the SEC on 13 November 2015.
Revenue
$2.7 billion
+14.1% on the year
FY2008FY2015
Operating margin
39.7%
39.1% a year earlier
FY2008FY2015
Net income
$447 million
+45.7% on the year
FY2008FY2015
Diluted EPS
$7.84
+148.1% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
2,707
2,373
1,924
+14.1%
Cost of revenue
1,257
1,105
875
+13.8%
Gross profit
1,450
1,268
1,050
+14.4%
Gross margin
53.6%
53.4%
54.5%
Research and development
48.3
42.3
32.1
+14.2%
Selling, general and administrative
322
276
254
+16.3%
Operating income
1,074
928
749
+15.8%
Operating margin
39.7%
39.1%
38.9%
Pre-tax income
637
449
448
+42.0%
Income tax
190
142
146
+33.9%
Effective tax rate
29.8%
31.6%
32.5%
Net income
447
307
303
+45.7%
Net margin
16.5%
12.9%
15.7%
Diluted EPS
$7.84
$3.16
$2.39
+148.1%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
521
541
470
-3.7%
Capital expenditure
54.9
34.1
35.5
+60.7%
Free cash flow
466
507
435
-8.1%
Free cash flow margin
17.2%
21.4%
22.6%
Cash from investing
n/a
n/a
-502
Cash from financing
n/a
n/a
156
Depreciation and amortisation
93.7
96.4
73.5
-2.8%
Share-based compensation
31.5
26.3
48.9
+19.6%
Buybacks
0.0
160
0.0
Dividends paid
3.4
1,451
1,991
-99.8%
Dividend per share
$0.00
$25.00
$34.85
Diluted shares, weighted
53m
53m
n/a
+0.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
-1,038
-1,556
-336
Debt
8,350
7,473
5,731
+11.7%
Other liabilities
993
840
754
+18.2%
Total liabilities and equity
8,304
6,757
6,149
+22.9%
Fixed assets
261
212
209
+22.9%
Goodwill
4,686
3,525
3,344
+32.9%
Intangible assets
1,540
1,217
704
+26.5%
Cash and equivalents
714
820
565
-12.9%
Receivables
444
351
290
+26.4%
Inventory
591
459
414
+28.8%
Other assets
67.7
173
623
-60.8%
Total assets
8,304
6,757
6,149
+22.9%
10-K for the year ended 30 September 2015, filed 13 November 2015: the filing.