TransDigm Group (TDG) FY2020 results: revenue $5.1 billion, down 2.3% on the year
TransDigm Group Inc. (TDG) reported revenue of $5.1 billion for fiscal 2020, the year ended 30 September 2020, down 2.3% on the year before. Net income was $699 million, down 21.4%, and diluted earnings per share $8.96. The figures are the company's own, from the 10-K it filed with the SEC on 12 November 2020.
Revenue
$5.1 billion
-2.3% on the year
FY2013FY2020
Operating margin
34.3%
36.9% a year earlier
FY2013FY2020
Net income
$699 million
-21.4% on the year
FY2013FY2020
Diluted EPS
$8.96
-35.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
5,103
5,223
3,811
-2.3%
Cost of revenue
2,456
2,414
1,634
+1.7%
Gross profit
2,647
2,809
2,178
-5.8%
Gross margin
51.9%
53.8%
57.1%
Research and development
131
117
73.8
+12.1%
Selling, general and administrative
727
748
450
-2.8%
Operating income
1,751
1,927
1,655
-9.1%
Operating margin
34.3%
36.9%
43.4%
Pre-tax income
740
1,063
986
-30.4%
Income tax
87.0
222
24.0
-60.8%
Effective tax rate
11.8%
20.9%
2.4%
Net income
699
890
957
-21.4%
Net margin
13.7%
17.0%
25.1%
Diluted EPS
$8.96
$13.84
$16.20
-35.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,213
1,015
1,022
+19.5%
Capital expenditure
105
102
73.0
+2.9%
Free cash flow
1,108
913
949
+21.3%
Free cash flow margin
21.7%
17.5%
24.9%
Cash from investing
799
-3,889
-684
Cash from financing
1,230
2,271
1,086
-45.8%
Depreciation and amortisation
283
226
129
+25.4%
Share-based compensation
93.0
93.0
58.5
0.0%
Buybacks
19.0
0.0
0.0
Dividends paid
1,928
1,712
56.0
+12.6%
Dividend per share
$32.50
$30.00
$0.00
+8.3%
Diluted shares, weighted
57m
53m
52m
+7.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-3,972
-2,895
-1,808
Non-controlling interest
4.0
10.0
0.0
-60.0%
Debt
20,009
16,899
12,877
+18.4%
Finance lease liabilities
55.0
n/a
n/a
Other liabilities
2,299
2,241
1,129
+2.6%
Total liabilities and equity
18,395
16,255
12,197
+13.2%
Fixed assets
752
757
388
-0.6%
Goodwill
7,889
7,820
6,223
+0.9%
Intangible assets
2,610
2,744
1,788
-4.9%
Cash and equivalents
4,717
1,467
2,073
+221.4%
Receivables
720
1,068
704
-32.6%
Inventory
1,283
1,233
805
+4.1%
Other assets
424
1,166
215
-63.6%
Total assets
18,395
16,255
12,197
+13.2%
10-K for the year ended 30 September 2020, filed 12 November 2020: the filing.