TransDigm Group (TDG) FY2019 results: revenue $5.2 billion, up 37.1% on the year
TransDigm Group Inc. (TDG) reported revenue of $5.2 billion for fiscal 2019, the year ended 30 September 2019, up 37.1% on the year before. Net income was $890 million, down 7.0%, and diluted earnings per share $13.84. The figures are the company's own, from the 10-K it filed with the SEC on 19 November 2019.
Revenue
$5.2 billion
+37.1% on the year
FY2012FY2019
Operating margin
36.9%
43.4% a year earlier
FY2012FY2019
Net income
$890 million
-7.0% on the year
FY2012FY2019
Diluted EPS
$13.84
-14.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
5,223
3,811
3,504
+37.1%
Cost of revenue
2,414
1,634
1,520
+47.8%
Gross profit
2,809
2,178
1,985
+29.0%
Gross margin
53.8%
57.1%
56.6%
Research and development
117
73.8
73.8
+58.3%
Selling, general and administrative
748
450
413
+66.1%
Operating income
1,927
1,655
1,483
+16.4%
Operating margin
36.9%
43.4%
42.3%
Pre-tax income
1,063
986
837
+7.8%
Income tax
222
24.0
209
+824.1%
Effective tax rate
20.9%
2.4%
24.9%
Net income
890
957
597
-7.0%
Net margin
17.0%
25.1%
17.0%
Diluted EPS
$13.84
$16.20
$7.88
-14.6%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,015
1,022
789
-0.7%
Capital expenditure
102
73.0
71.0
+39.7%
Free cash flow
913
949
718
-3.8%
Free cash flow margin
17.5%
24.9%
20.5%
Cash from investing
-3,889
-684
-287
Cash from financing
2,271
1,086
-1,444
+109.2%
Depreciation and amortisation
226
129
141
+75.0%
Share-based compensation
93.0
58.5
45.5
+59.0%
Buybacks
0.0
0.0
390
Dividends paid
1,712
56.0
2,582
+2,957.5%
Dividend per share
$30.00
$0.00
$46.00
Diluted shares, weighted
53m
52m
53m
+1.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
-2,895
-1,808
-2,951
Non-controlling interest
10.0
0.0
n/a
Debt
16,899
12,877
11,763
+31.2%
Other liabilities
2,241
1,129
1,164
+98.5%
Total liabilities and equity
16,255
12,197
9,976
+33.3%
Fixed assets
757
388
325
+94.9%
Goodwill
7,820
6,223
5,745
+25.7%
Intangible assets
2,744
1,788
1,718
+53.4%
Cash and equivalents
1,467
2,073
651
-29.2%
Receivables
1,068
704
636
+51.6%
Inventory
1,233
805
731
+53.1%
Other assets
1,166
215
170
+442.9%
Total assets
16,255
12,197
9,976
+33.3%
10-K for the year ended 30 September 2019, filed 19 November 2019: the filing.