TransDigm Group INC（TDG）の決算・業績分析
TransDigm Group INCの2025年有価証券報告書をAI分析。売上高$8.8B(+11.2%)。営業利益$4.2B。Industrials。
目次
TransDigm Group INCの2025年度 業績サマリー
TransDigm Group INC（証券コード: TDG）の2025年度決算・業績分析。売上高は$8.8B（前年比+11.2%）。営業利益は$4.2B（前年比+18.0%）。純利益は$2.1B（前年比+21.0%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
TransDigm Group INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 13.2% YoY to $5.4B (XBRL), driven by acquisitions and operating strategy.
- Operating income surged 31.0% YoY to $2.2B (XBRL), with gross margin at 57.1% (XBRL).
- Net debt reached $15.9B (6.5x EBITDA) (XBRL), despite $3.5B in cash (XBRL).
- Shareholder returns totaled $2.0B via dividends ($1.1B) and buybacks ($912M) (XBRL).
- ROE was -43.6% (XBRL), reflecting high leverage and negative equity (-9.9%) (XBRL).
TransDigm Group INCの売上高変化の要因
- •Total revenue reached $5.4B (XBRL), up 13.2% YoY. Growth drivers include selective acquisitions, value-driven operating strategy, and new business wins (10-K). Segment revenue breakdown is unavailable (XBRL). Historical revenue growth shows a 5-year CAGR of 11.6% (XBRL), with FY2024 revenue surpassing FY2023 ($4.8B) by $600M (XBRL).
TransDigm Group INCの営業利益変化の要因
- •Gross profit was $3.1B (57.1% margin) (XBRL), up from FY2023 ($4.8B revenue). Operating income rose 31.0% YoY to $2.2B (40.8% margin) (XBRL). Net income increased 27.4% YoY to $866M (15.9% margin) (XBRL). Cost of sales likely decreased due to improved cost structure (10-K).
TransDigm Group INCの事業リスクと対応
Heavy reliance on aerospace/defense industry exposes TDG to sector downturns (10-K).
Top 10 customers account for 42% of sales, risking material adverse effects (10-K).
Fixed-price contracts expose TDG to cost overruns without price recovery (10-K).
Acquisition integration risks could increase debt and dilute margins (10-K).
High net debt ($15.9B) increases financial vulnerability (XBRL).
TransDigm Group INCの今後の見通し・業績予想
TransDigm Group INCの事業内容
TransDigm Group Inc. (TDG) designs, produces, and supplies proprietary aerospace components for commercial and military aircraft (10-K). Revenue is generated from 90% proprietary products and 55% aftermarket consumption, with long-term revenue streams tied to aircraft platforms (10-K). Key segments include Power & Control (actuators, ignition systems), Airframe (seatbelts, parachutes), and Non-aviation (space equipment) (10-K). Competitive advantages include proprietary products, engineering expertise, and selective acquisitions (10-K).
TransDigm Group INCのAI業績分析レポート（2024年度）
TransDigm Group Inc. (TDG) FY2024 Annual Report Analysis
Highlights
Business Overview
TransDigm Group Inc. (TDG) designs, produces, and supplies proprietary aerospace components for commercial and military aircraft (10-K). Revenue is generated from 90% proprietary products and 55% aftermarket consumption, with long-term revenue streams tied to aircraft platforms (10-K). Key segments include Power & Control (actuators, ignition systems), Airframe (seatbelts, parachutes), and Non-aviation (space equipment) (10-K). Competitive advantages include proprietary products, engineering expertise, and selective acquisitions (10-K).
Revenue Analysis
Total revenue reached $5.4B (XBRL), up 13.2% YoY. Growth drivers include selective acquisitions, value-driven operating strategy, and new business wins (10-K). Segment revenue breakdown is unavailable (XBRL). Historical revenue growth shows a 5-year CAGR of 11.6% (XBRL), with FY2024 revenue surpassing FY2023 ($4.8B) by $600M (XBRL).
Profitability Analysis
Gross profit was $3.1B (57.1% margin) (XBRL), up from FY2023 ($4.8B revenue). Operating income rose 31.0% YoY to $2.2B (40.8% margin) (XBRL). Net income increased 27.4% YoY to $866M (15.9% margin) (XBRL). Cost of sales likely decreased due to improved cost structure (10-K).
Balance Sheet Analysis
Total assets grew to $20.0B (XBRL), but total equity fell to -$2.0B (XBRL). Equity ratio was -9.9% (XBRL), and debt-to-equity ratio was -11.06x (XBRL). Current ratio was 4.27x (XBRL), indicating strong liquidity. Net debt was $15.9B (6.5x EBITDA) (XBRL), with $3.5B in cash (XBRL).
Cash Flow Analysis
Operating cash flow was $948M (XBRL), up from FY2023 ($913M). Free cash flow (FCF) was $829M (XBRL), calculated as OCF minus CapEx ($119M) (XBRL). Investing cash flow was -$553M (XBRL), likely from asset purchases. Financing cash flow was -$2.1B (XBRL), driven by dividends ($1.1B) and share repurchases ($912M) (XBRL).
Working Capital Analysis
Cash conversion cycle (CCC) was 288 days (XBRL), with receivables days at 83, inventory days at 253, and payables days at 48 (XBRL).
Risks
Outlook
Management highlights growth from acquisitions, diversified revenue streams, and R&D for innovative products as key trends (10-K). No explicit forward-looking guidance is provided beyond historical projections (10-K).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 3.8B | 5.1B | 5.1B | 4.8B | 5.4B | 6.6B |
| Operating Income | 1.7B | 1.9B | 1.8B | 1.7B | 2.2B | 2.9B |
| Net Income | 957M | 890M | 699M | 680M | 866M | 1.3B |
| Total Assets | 16.3B | 18.4B | 19.3B | 18.1B | 20.0B | 20.0B |
| Total Equity | -3.0B | -4.0B | -2.9B | -3.8B | -2.0B | -6.3B |
| Operating Cash Flow | 1.0B | 1.0B | 1.2B | 913M | 948M | 1.4B |
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