TransDigm Group (TDG) FY2017 results: revenue $3.5 billion, up 10.5% on the year
TransDigm Group Inc. (TDG) reported revenue of $3.5 billion for fiscal 2017, the year ended 30 September 2017, up 10.5% on the year before. Net income was $597 million, up 1.8%, and diluted earnings per share $7.88. The figures are the company's own, from the 10-K it filed with the SEC on 19 November 2019.
Revenue
$3.5 billion
+10.5% on the year
FY2010FY2017
Operating margin
42.3%
40.0% a year earlier
FY2010FY2017
Net income
$597 million
+1.8% on the year
FY2010FY2017
Diluted EPS
$7.88
-24.2% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
3,504
3,171
2,707
+10.5%
Cost of revenue
1,520
1,443
1,257
+5.3%
Gross profit
1,985
1,728
1,450
+14.8%
Gross margin
56.6%
54.5%
53.6%
Research and development
73.8
58.6
48.3
+25.9%
Selling, general and administrative
413
383
322
+7.8%
Operating income
1,483
1,268
1,074
+17.0%
Operating margin
42.3%
40.0%
39.7%
Pre-tax income
837
768
637
+9.0%
Income tax
209
182
190
+15.0%
Effective tax rate
24.9%
23.7%
29.8%
Net income
597
586
447
+1.8%
Net margin
17.0%
18.5%
16.5%
Diluted EPS
$7.88
$10.39
$7.84
-24.2%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
789
n/a
521
Capital expenditure
71.0
44.0
54.9
+61.5%
Free cash flow
718
n/a
466
Free cash flow margin
20.5%
n/a
17.2%
Cash from investing
-287
n/a
n/a
Cash from financing
-1,444
n/a
n/a
Depreciation and amortisation
141
122
93.7
+15.9%
Share-based compensation
45.5
48.3
31.5
-5.8%
Buybacks
390
208
0.0
+87.6%
Dividends paid
2,582
3.0
3.4
+85,951.7%
Dividend per share
$46.00
$0.00
$0.00
Diluted shares, weighted
53m
53m
53m
-1.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
-2,951
-651
-1,038
Debt
11,763
10,196
8,350
+15.4%
Other liabilities
1,164
1,182
993
-1.5%
Total liabilities and equity
9,976
10,726
8,304
-7.0%
Fixed assets
325
311
261
+4.6%
Goodwill
5,745
5,679
4,686
+1.2%
Intangible assets
1,718
1,764
1,540
-2.6%
Cash and equivalents
651
1,587
714
-59.0%
Receivables
636
576
444
+10.4%
Inventory
731
724
591
+0.9%
Other assets
170
84.6
67.7
+101.2%
Total assets
9,976
10,726
8,304
-7.0%
10-K for the year ended 30 September 2017, filed 19 November 2019: the filing.