TransDigm Group (TDG) FY2016 results: revenue $3.2 billion, up 17.2% on the year
TransDigm Group Inc. (TDG) reported revenue of $3.2 billion for fiscal 2016, the year ended 30 September 2016, up 17.2% on the year before. Net income was $586 million, up 31.1%, and diluted earnings per share $10.39. The figures are the company's own, from the 10-K it filed with the SEC on 15 November 2016.
Revenue
$3.2 billion
+17.2% on the year
FY2009FY2016
Operating margin
40.0%
39.7% a year earlier
FY2009FY2016
Net income
$586 million
+31.1% on the year
FY2009FY2016
Diluted EPS
$10.39
+32.5% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
3,171
2,707
2,373
+17.2%
Cost of revenue
1,443
1,257
1,105
+14.8%
Gross profit
1,728
1,450
1,268
+19.2%
Gross margin
54.5%
53.6%
53.4%
Research and development
58.6
48.3
42.3
+21.3%
Selling, general and administrative
383
322
276
+19.0%
Operating income
1,268
1,074
928
+18.0%
Operating margin
40.0%
39.7%
39.1%
Pre-tax income
768
637
449
+20.6%
Income tax
182
190
142
-4.2%
Effective tax rate
23.7%
29.8%
31.6%
Net income
586
447
307
+31.1%
Net margin
18.5%
16.5%
12.9%
Diluted EPS
$10.39
$7.84
$3.16
+32.5%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
n/a
521
541
Capital expenditure
44.0
54.9
34.1
-19.8%
Free cash flow
n/a
466
507
Free cash flow margin
n/a
17.2%
21.4%
Depreciation and amortisation
122
93.7
96.4
+29.9%
Share-based compensation
48.3
31.5
26.3
+53.4%
Buybacks
208
0.0
160
Dividends paid
3.0
3.4
1,451
-10.8%
Dividend per share
$0.00
$0.00
$25.00
Diluted shares, weighted
53m
53m
53m
+0.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
-651
-1,038
-1,556
Debt
10,196
8,350
7,473
+22.1%
Other liabilities
1,182
993
840
+19.1%
Total liabilities and equity
10,726
8,304
6,757
+29.2%
Fixed assets
311
261
212
+19.1%
Goodwill
5,679
4,686
3,525
+21.2%
Intangible assets
1,764
1,540
1,217
+14.6%
Cash and equivalents
1,587
714
820
+122.3%
Receivables
576
444
351
+29.8%
Inventory
724
591
459
+22.4%
Other assets
84.6
67.7
173
+24.9%
Total assets
10,726
8,304
6,757
+29.2%
10-K for the year ended 30 September 2016, filed 15 November 2016: the filing.