TransDigm Group (TDG) Q4 FY2026 earnings: revenue $3.0 billion, up 22.5% on the year

TransDigm Group Inc. (TDG) reported revenue of $3.0 billion for Q4 FY2026, the quarter ended 30 September 2026, up 22.5% on the same quarter a year earlier. Net income was $588 million, down 3.6% on the year, and diluted earnings per share $10.30. The figures are the company's own, from the 10-K it filed with the SEC on 10 November 2026.

Revenue

$3.0 billion

+22.5% on the year · +9.0% on the quarter

Q1 FY2025Q4 FY2026

Operating margin

45.7%

47.6% a year earlier

Q1 FY2025Q4 FY2026

Net income

$588 million

-3.6% on the year · +9.1% on the quarter

Q1 FY2025Q4 FY2026

Diluted EPS

$10.30

+32.9% on the year · +9.7% on the quarter

Q1 FY2025Q4 FY2026

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

What management said

Guidance figures: 9 new.

Net sales rose 23% in quarter: Net sales were $2,988 million, up 23% from $2,437 million a year earlier, with organic sales growth of 14% of net sales.
Net income fell 4% in quarter: Net income was $586 million, down $23 million, or 4%, from $609 million a year earlier.
Quarter EBITDA margin 53.0%: EBITDA As Defined margin was 53.0%, against 54.2% a year earlier.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2026	Q3 FY2026	Q4 FY2025	On the quarter	On the year
Revenue	2,987	2,741	2,438	+9.0%	+22.5%
Cost of revenue	1,224	1,113	968	+10.0%	+26.4%
Gross profit	1,763	1,628	1,470	+8.3%	+19.9%
Gross margin	59.0%	59.4%	60.3%
Selling, general and administrative	332	332	256	0.0%	+29.7%
Operating income	1,364	1,227	1,161	+11.2%	+17.5%
Operating margin	45.7%	44.8%	47.6%
Interest expense	n/a	514	n/a
Pre-tax income	779	713	753	+9.3%	+3.5%
Income tax	192	173	144	+11.0%	+33.3%
Effective tax rate	24.6%	24.3%	19.1%
Net income	588	539	610	+9.1%	-3.6%
Net margin	19.7%	19.7%	25.0%
Diluted EPS	$10.30	$9.39	$7.75	+9.7%	+32.9%

$ million except per share.

Fourth quarters are the year less the first three quarters. 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	Q4 FY2026	Q3 FY2026	Q4 FY2025	On the quarter	On the year
Operating cash flow	496	724	507	-31.5%	-2.2%
Capital expenditure	69.0	74.0	66.0	-6.8%	+4.5%
Free cash flow	427	650	441	-34.3%	-3.2%
Free cash flow margin	14.3%	23.7%	18.1%
Cash from investing	-1,292	-2,233	-246
Cash from financing	302	403	-231	-25.1%
Depreciation and amortisation	122	118	97.0	+3.4%	+25.8%
Share-based compensation	28.0	65.0	28.0	-56.9%	0.0%
Buybacks	943	1,086	0.0	-13.2%
Dividends paid	0.0	0.0	5,233
Diluted shares, weighted	58m	57m	58m	+0.3%	-1.0%
Shares outstanding at period end	55m	55m	56m	-1.2%	-3.1%

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	Q4 FY2026	Q3 FY2026	Q4 FY2025	On the quarter	On the year
Shareholders' equity	-10,000	-9,809	-9,686
Non-controlling interest	8.0	9.0	7.0	-11.1%	+14.3%
Redeemable equity	85.0	81.0	0.0	+4.9%
Debt	34,763	33,485	30,015	+3.8%	+15.8%
Operating lease liabilities	74.0	n/a	51.0		+45.1%
Finance lease liabilities	332	n/a	276		+20.3%
Other liabilities	2,752	2,988	2,246	-7.9%	+22.5%
Total liabilities and equity	28,014	26,754	22,909	+4.7%	+22.3%
Fixed assets	1,832	1,740	1,579	+5.3%	+16.0%
Goodwill	12,946	12,166	10,612	+6.4%	+22.0%
Intangible assets	5,152	4,724	3,454	+9.1%	+49.2%
Cash and equivalents	2,279	2,773	2,808	-17.8%	-18.8%
Receivables	2,054	1,817	1,617	+13.0%	+27.0%
Inventory	2,713	2,586	2,095	+4.9%	+29.5%
Other assets	1,038	948	744	+9.5%	+39.5%
Total assets	28,014	26,754	22,909	+4.7%	+22.3%

Questions

What was TransDigm Group's revenue in Q4 FY2026?

TransDigm Group (TDG) reported revenue of $3.0 billion for Q4 FY2026, the quarter ended 30 September 2026, up 22.5% on the same quarter a year earlier.

How much did TransDigm Group earn in Q4 FY2026?

Net income for Q4 FY2026 was $588 million, down 3.6% on the year, and diluted earnings per share $10.30.

When did TransDigm Group report Q4 FY2026 results?

TransDigm Group filed its 10-K for the year that ended with the quarter on 10 November 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	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	Q4 FY2026 *
Revenue	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	2,987
Cost of revenue	533	591	582	624	604	663	715	761	747	767	826	928	771	876	905	968	933	1,033	1,113	1,224
Gross profit	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	1,763
Gross margin	55%	55%	58%	59%	57%	58%	59%	59%	58%	60%	60%	58%	62%	59%	60%	60%	59%	59%	59%	59%
SG&A	170	183	184	211	169	199	209	203	220	248	248	264	211	236	242	256	254	273	332	332
Operating income	455	520	599	641	590	695	783	855	787	867	934	943	974	991	1,039	1,161	1,042	1,178	1,227	1,364
Operating margin	38%	39%	43%	42%	42%	44%	45%	46%	44%	45%	46%	43%	49%	46%	46%	48%	46%	46%	45%	46%
Interest expense	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	n/a
Pre-tax income	193	260	312	362	301	397	469	549	488	519	602	606	619	622	635	753	572	700	713	779
Tax rate	16%	23%	23%	27%	24%	23%	25%	25%	22%	22%	23%	23%	20%	23%	22%	19%	22%	23%	24%	25%
Net income	163	199	238	266	228	304	351	415	382	403	461	468	493	479	492	610	445	535	539	588
Net margin	14%	15%	17%	18%	16%	19%	20%	22%	21%	21%	23%	21%	25%	22%	22%	25%	19%	21%	20%	20%
Diluted EPS	$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	$10.30
Operating cash flow	279	87.0	309	273	377	130	406	462	636	229	608	572	752	148	631	507	832	135	724	496
Capital expenditure	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	69.0
Free cash flow	254	55.0	280	240	346	95.0	370	425	600	181	568	531	710	92.0	573	441	772	64.0	650	427
Buybacks	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	943
Dividends paid	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	0.0
Shares outstanding	55m	55m	54m	54m	55m	55m	55m	55m	56m	56m	56m	56m	56m	56m	56m	56m	56m	56m	55m	55m
Filing	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	10-K

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-K for the period ended 30 September 2026, filed 10 November 2026: the filing.