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Arphra AIPlain-English read on TransDigm Group Incorporated’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $4.8B | $5.43B | $6.59B | $7.94B | $8.83B | $10.37B | $11.35B | $12.21B | $12.7B |
| Cost of revenue | $2.29B | $2.33B | $2.74B | $3.27B | $3.52B | $4.36B | $4.53B | $4.88B | $5.22B |
| Gross profit | $2.51B | $3.1B | $3.84B | $4.67B | $5.31B | $6.14B | $6.6B | $7.31B | $7.55B |
| Gross margin | +52.38% | +57.08% | +58.34% | +58.84% | +60.14% | +59.15% | +58.18% | +59.90% | +59.45% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $685M | $748M | $770M | $931M | $921M | $1.2B | $1.29B | $1.37B | $1.4B |
| Total operating expenses | $822M | $884M | $919M | $1.14B | $1.15B | $1.39B | $1.55B | $1.69B | $1.77B |
| Operating income | $1.69B | $2.22B | $2.92B | $3.53B | $4.17B | $4.74B | $5.15B | $5.66B | $5.69B |
| Operating margin | +35.24% | +40.80% | +44.39% | +44.47% | +47.16% | +45.65% | +45.40% | +46.36% | +44.80% |
| EBITDA | $2.03B | $2.46B | $3.15B | $3.81B | $4.57B | $5.01B | $5.42B | $5.89B | $6.09B |
| EBIT | $1.77B | $2.2B | $2.88B | $3.5B | $4.2B | $4.61B | $5.16B | $5.53B | $5.83B |
| Below the line | |||||||||
| Interest expense | $1.1B | $1.08B | $1.22B | $1.34B | $1.57B | $1.81B | $1.99B | $2.23B | $2.23B |
| Interest income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other income / expense | -$976M | -$1.09B | -$1.21B | -$1.32B | -$1.54B | — | — | — | — |
| Pre-tax income | $715M | $1.13B | $1.72B | $2.22B | $2.63B | $2.96B | $3.13B | $3.4B | $3.44B |
| Income tax expense | $34M | $261M | $417M | $500M | $555M | $667.04M | $731M | $753.82M | $785.75M |
| Earnings | |||||||||
| Net income | $680M | $866M | $1.3B | $1.71B | $2.07B | $2.23B | $2.49B | $2.66B | $2.7B |
| Net income · continuing ops | $681M | $866M | $1.3B | $1.72B | $2.07B | $2.22B | $2.45B | $2.58B | $2.78B |
| Net margin | +14.17% | +15.95% | +19.71% | +21.59% | +23.49% | +21.51% | +21.95% | +21.78% | +21.27% |
| EPS · basic | $10.39 | $13.40 | $22.03 | $25.62 | $32.08 | $40.44 | $47.34 | $53.19 | $62.28 |
| EPS · diluted | $10.39 | $13.40 | $22.03 | $25.62 | $32.08 | $39.99 | $46.98 | $53.98 | $61.50 |
| EPS · low estimate | — | — | — | — | — | $38.40 | $45.02 | $38.10 | $58.80 |
| EPS · high estimate | — | — | — | — | — | $41.06 | $50.59 | $63.80 | $63.78 |
| Shares · basic | 58.4M | 58.2M | 57.2M | 57.8M | 58.2M | 57.83M | 58.69M | 58.07M | 58.3M |
| Shares · diluted | 58.4M | 58.2M | 57.2M | 57.8M | 58.2M | 58.22M | 58.17M | 57.68M | 57.65M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 15 | 16 | 16 | 8 |
| Analysts (EPS) | — | — | — | — | — | 14 | 15 | 10 | 4 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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