TransDigm Group (TDG) FY2018 results: revenue $3.8 billion, up 8.8% on the year
TransDigm Group Inc. (TDG) reported revenue of $3.8 billion for fiscal 2018, the year ended 30 September 2018, up 8.8% on the year before. Net income was $957 million, up 60.3%, and diluted earnings per share $16.20. The figures are the company's own, from the 10-K it filed with the SEC on 19 November 2019.
Revenue
$3.8 billion
+8.8% on the year
FY2011FY2018
Operating margin
43.4%
42.3% a year earlier
FY2011FY2018
Net income
$957 million
+60.3% on the year
FY2011FY2018
Diluted EPS
$16.20
+105.6% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
3,811
3,504
3,171
+8.8%
Cost of revenue
1,634
1,520
1,443
+7.5%
Gross profit
2,178
1,985
1,728
+9.7%
Gross margin
57.1%
56.6%
54.5%
Research and development
73.8
73.8
58.6
0.0%
Selling, general and administrative
450
413
383
+9.1%
Operating income
1,655
1,483
1,268
+11.6%
Operating margin
43.4%
42.3%
40.0%
Pre-tax income
986
837
768
+17.7%
Income tax
24.0
209
182
-88.5%
Effective tax rate
2.4%
24.9%
23.7%
Net income
957
597
586
+60.3%
Net margin
25.1%
17.0%
18.5%
Diluted EPS
$16.20
$7.88
$10.39
+105.6%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,022
789
n/a
+29.6%
Capital expenditure
73.0
71.0
44.0
+2.8%
Free cash flow
949
718
n/a
+32.2%
Free cash flow margin
24.9%
20.5%
n/a
Cash from investing
-684
-287
n/a
Cash from financing
1,086
-1,444
n/a
Depreciation and amortisation
129
141
122
-8.5%
Share-based compensation
58.5
45.5
48.3
+28.5%
Buybacks
0.0
390
208
Dividends paid
56.0
2,582
3.0
-97.8%
Dividend per share
$0.00
$46.00
$0.00
Diluted shares, weighted
52m
53m
53m
-0.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
-1,808
-2,951
-651
Non-controlling interest
0.0
n/a
n/a
Debt
12,877
11,763
10,196
+9.5%
Other liabilities
1,129
1,164
1,182
-3.1%
Total liabilities and equity
12,197
9,976
10,726
+22.3%
Fixed assets
388
325
311
+19.5%
Goodwill
6,223
5,745
5,679
+8.3%
Intangible assets
1,788
1,718
1,764
+4.1%
Cash and equivalents
2,073
651
1,587
+218.7%
Receivables
704
636
576
+10.7%
Inventory
805
731
724
+10.2%
Other assets
215
170
84.6
+26.2%
Total assets
12,197
9,976
10,726
+22.3%
10-K for the year ended 30 September 2018, filed 19 November 2019: the filing.