TransDigm Group (TDG) Q3 FY2026 earnings: revenue $2.7 billion, up 22.5% on the year

TransDigm Group Inc. (TDG) reported revenue of $2.7 billion for Q3 FY2026, the quarter ended 27 June 2026, up 22.5% on the same quarter a year earlier. Net income was $539 million, up 9.6% on the year, and diluted earnings per share $9.39. The figures are the company's own, from the 10-Q it filed with the SEC on 4 August 2026.

Revenue

$2.7 billion

+22.5% on the year · +7.7% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

44.8%

46.4% a year earlier

Q4 FY2024Q3 FY2026

Net income

$539 million

+9.6% on the year · +0.7% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$9.39

+10.9% on the year · +2.1% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 9 raised, 1 lowered, 2 kept.

Sales up 23% to $2,741 million: Net sales rose 23% from a year earlier. Organic sales growth was 13% of net sales for the quarter.
EBITDA As Defined up 19%: EBITDA As Defined was $1,447 million for the quarter, compared with $1,217 million a year earlier.
Commercial aftermarket grew 17%: Commercial aftermarket revenue grew 17% in the quarter, which management described as remaining at that level of growth this quarter.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	2,741	2,544	2,237	+7.7%	+22.5%
Cost of revenue	1,113	1,033	905	+7.7%	+23.0%
Gross profit	1,628	1,511	1,332	+7.7%	+22.2%
Gross margin	59.4%	59.4%	59.5%
Selling, general and administrative	332	273	242	+21.6%	+37.2%
Operating income	1,227	1,178	1,039	+4.2%	+18.1%
Operating margin	44.8%	46.3%	46.4%
Interest expense	514	484	397	+6.2%	+29.5%
Pre-tax income	713	700	635	+1.9%	+12.3%
Income tax	173	164	142	+5.5%	+21.8%
Effective tax rate	24.3%	23.4%	22.4%
Net income	539	535	492	+0.7%	+9.6%
Net margin	19.7%	21.0%	22.0%
Diluted EPS	$9.39	$9.20	$8.47	+2.1%	+10.9%

$ million except per share.

Free 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	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	724	135	631	+436.3%	+14.7%
Capital expenditure	74.0	71.0	58.0	+4.2%	+27.6%
Free cash flow	650	64.0	573	+915.6%	+13.4%
Free cash flow margin	23.7%	2.5%	25.6%
Cash from investing	-2,233	-164	-158
Cash from financing	403	1,390	-129	-71.0%
Depreciation and amortisation	118	105	91.0	+12.4%	+29.7%
Share-based compensation	65.0	26.0	51.0	+150.0%	+27.5%
Buybacks	1,086	615	131	+76.6%	+729.0%
Dividends paid	0.0	0.0	0.0
Dividend per share	n/a	n/a	$0.00
Diluted shares, weighted	57m	58m	58m	-1.4%	-1.2%
Shares outstanding at period end	55m	56m	56m	-1.2%	-1.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	-9,809	-9,402	-5,004
Non-controlling interest	9.0	8.0	8.0	+12.5%	+12.5%
Redeemable equity	81.0	0.0	n/a
Debt	33,485	32,003	25,012	+4.6%	+33.9%
Operating lease liabilities	n/a	n/a	41.0
Finance lease liabilities	n/a	n/a	272
Other liabilities	2,988	2,833	2,371	+5.5%	+26.0%
Total liabilities and equity	26,754	25,442	22,700	+5.2%	+17.9%
Fixed assets	1,740	1,678	1,540	+3.7%	+13.0%
Goodwill	12,166	11,038	10,548	+10.2%	+15.3%
Intangible assets	4,724	3,844	3,462	+22.9%	+36.5%
Cash and equivalents	2,773	3,884	2,792	-28.6%	-0.7%
Receivables	1,817	1,720	1,518	+5.6%	+19.7%
Inventory	2,586	2,400	2,083	+7.8%	+24.1%
Other assets	948	878	757	+8.0%	+25.2%
Total assets	26,754	25,442	22,700	+5.2%	+17.9%

Questions

What was TransDigm Group's revenue in Q3 FY2026?

TransDigm Group (TDG) reported revenue of $2.7 billion for Q3 FY2026, the quarter ended 27 June 2026, up 22.5% on the same quarter a year earlier.

How much did TransDigm Group earn in Q3 FY2026?

Net income for Q3 FY2026 was $539 million, up 9.6% on the year, and diluted earnings per share $9.39.

When did TransDigm Group report Q3 FY2026 results?

TransDigm Group filed its 10-Q for the quarter ended 27 June 2026 with the SEC on 4 August 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,278	1,194	1,327	1,398	1,510	1,397	1,592	1,744	1,852	1,789	1,919	2,046	2,186	2,006	2,150	2,237	2,438	2,285	2,544	2,741
Cost of revenue	553	533	591	582	624	604	663	715	761	747	767	826	928	771	876	905	968	933	1,033	1,113
Gross profit	725	661	736	816	886	793	929	1,029	1,091	1,042	1,152	1,220	1,258	1,235	1,274	1,332	1,470	1,352	1,511	1,628
Gross margin	57%	55%	55%	58%	59%	57%	58%	59%	59%	58%	60%	60%	58%	62%	59%	60%	60%	59%	59%	59%
SG&A	154	170	183	184	211	169	199	209	203	220	248	248	264	211	236	242	256	254	273	332
Operating income	535	455	520	599	641	590	695	783	855	787	867	934	943	974	991	1,039	1,161	1,042	1,178	1,227
Operating margin	42%	38%	39%	43%	42%	42%	44%	45%	46%	44%	45%	46%	43%	49%	46%	46%	48%	46%	46%	45%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	300	326	316	n/a	378	378	397	n/a	475	484	514
Pre-tax income	288	193	260	312	362	301	397	469	549	488	519	602	606	619	622	635	753	572	700	713
Tax rate	27%	16%	23%	23%	27%	24%	23%	25%	25%	22%	22%	23%	23%	20%	23%	22%	19%	22%	23%	24%
Net income	209	163	199	238	266	228	304	351	415	382	403	461	468	493	479	492	610	445	535	539
Net margin	16%	14%	15%	17%	18%	16%	19%	20%	22%	21%	21%	23%	21%	25%	22%	22%	25%	19%	21%	20%
Diluted EPS	$3.61	$1.98	$3.38	$4.10	$3.94	$3.33	$5.32	$6.14	$7.23	$4.87	$6.97	$7.96	$5.80	$7.62	$8.24	$8.47	$7.75	$6.62	$9.20	$9.39
Operating cash flow	289	279	87.0	309	273	377	130	406	462	636	229	608	572	752	148	631	507	832	135	724
Capital expenditure	25.0	25.0	32.0	29.0	33.0	31.0	35.0	36.0	37.0	36.0	48.0	40.0	41.0	42.0	56.0	58.0	66.0	60.0	71.0	74.0
Free cash flow	264	254	55.0	280	240	346	95.0	370	425	600	181	568	531	710	92.0	573	441	772	64.0	650
Buybacks	n/a	n/a	n/a	245	n/a	n/a	n/a	0.0	n/a	0.0	0.0	0.0	0.0	316	53.0	131	0.0	106	615	1,086
Dividends paid	0.0	46.0	0.0	0.0	1,045	38.0	0.0	0.0	0.0	2,038	0.0	0.0	0.0	4,396	0.0	0.0	5,233	59.0	0.0	0.0
Shares outstanding	55m	55m	55m	54m	54m	55m	55m	55m	55m	56m	56m	56m	56m	56m	56m	56m	56m	56m	56m	55m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 27 June 2026, filed 4 August 2026: the filing.