TransDigm (TDG)
Market Price (6/18/2026): $1340.0 | Market Cap: $78.0 BilInvestor Relations Sector: Industrials | Industry: Aerospace & Defense
TransDigm (TDG)
Market Price (6/18/2026): $1340.0Market Cap: $78.0 BilSector: IndustrialsIndustry: Aerospace & Defense
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.6%, Dividend Yield is 6.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.3% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 47% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%, CFO LTM is 2.1 Bil Stock buyback supportStock Buyback 3Y Total is 1.2 Bil Low stock price volatilityVol 12M is 30% Megatrend and thematic driversMegatrends include Advanced Aviation & Space. Themes include Commercial Space Exploration, Advanced Air Mobility, and Drone Technology. | Weak multi-year price returns2Y Excs Rtn is -24% | Expensive valuation multiplesP/SPrice/Sales ratio is 8.1x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 36x Key risksTDG key risks include [1] its substantial debt levels from an aggressive financial leverage strategy, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.6%, Dividend Yield is 6.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.3% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 47% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%, CFO LTM is 2.1 Bil |
| Stock buyback supportStock Buyback 3Y Total is 1.2 Bil |
| Low stock price volatilityVol 12M is 30% |
| Megatrend and thematic driversMegatrends include Advanced Aviation & Space. Themes include Commercial Space Exploration, Advanced Air Mobility, and Drone Technology. |
| Weak multi-year price returns2Y Excs Rtn is -24% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 8.1x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 36x |
| Key risksTDG key risks include [1] its substantial debt levels from an aggressive financial leverage strategy, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 6/17/2026
TransDigm (TDG) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Earnings and Upgraded Full-Year Guidance Offset by Mounting Debt.
TransDigm reported robust fiscal Q2 2026 results on May 5, 2026, with earnings per share (EPS) of $9.85, surpassing analyst estimates by 5.01% to 6.26%. Quarterly revenue increased 18.3% year-over-year to $2.54 billion, exceeding expectations by 3.67% to 7.7%. This strong performance led the company to raise its full-year fiscal 2026 outlook, projecting revenue of approximately $10.36 billion and adjusted EPS of nearly $39.52 at the midpoint. However, investor concerns emerged regarding the company's increased debt load, as TransDigm raised an additional $1.5 billion in debt through an offering completed on April 17, 2026, to help fund the $2.2 billion acquisition of Jet Parts Engineering and Victor Sierra. This increased leverage, alongside substantial share repurchases totaling $905 million year-to-date through May 5, 2026, contributed to balance sheet risk perception and higher financing costs, driving a 5.57% stock decline on April 21, 2026.
2. Significant Insider Selling Activity.
The stock's upward momentum was constrained by considerable insider selling during the period. Over the 90 days leading up to June 16, 2026, insiders sold 38,196 shares totaling $46,567,024. Notably, Director W Nicholas Howley executed a sale of 10,132 shares on March 18, 2026, valued at $12,290,622.60. This high volume of insider disposition, with a buy-to-sell ratio of just 0.01x over the past twelve months, signaled a potential lack of confidence among those closest to the company and was flagged as a red flag for investors.
Show more
TransDigm (TDG) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Earnings and Upgraded Full-Year Guidance Offset by Mounting Debt.
TransDigm reported robust fiscal Q2 2026 results on May 5, 2026, with earnings per share (EPS) of $9.85, surpassing analyst estimates by 5.01% to 6.26%. Quarterly revenue increased 18.3% year-over-year to $2.54 billion, exceeding expectations by 3.67% to 7.7%. This strong performance led the company to raise its full-year fiscal 2026 outlook, projecting revenue of approximately $10.36 billion and adjusted EPS of nearly $39.52 at the midpoint. However, investor concerns emerged regarding the company's increased debt load, as TransDigm raised an additional $1.5 billion in debt through an offering completed on April 17, 2026, to help fund the $2.2 billion acquisition of Jet Parts Engineering and Victor Sierra. This increased leverage, alongside substantial share repurchases totaling $905 million year-to-date through May 5, 2026, contributed to balance sheet risk perception and higher financing costs, driving a 5.57% stock decline on April 21, 2026.
2. Significant Insider Selling Activity.
The stock's upward momentum was constrained by considerable insider selling during the period. Over the 90 days leading up to June 16, 2026, insiders sold 38,196 shares totaling $46,567,024. Notably, Director W Nicholas Howley executed a sale of 10,132 shares on March 18, 2026, valued at $12,290,622.60. This high volume of insider disposition, with a buy-to-sell ratio of just 0.01x over the past twelve months, signaled a potential lack of confidence among those closest to the company and was flagged as a red flag for investors.
Show more
Updated on 6/17/2026
TransDigm (TDG) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Earnings and Upgraded Full-Year Guidance Offset by Mounting Debt.
TransDigm reported robust fiscal Q2 2026 results on May 5, 2026, with earnings per share (EPS) of $9.85, surpassing analyst estimates by 5.01% to 6.26%. Quarterly revenue increased 18.3% year-over-year to $2.54 billion, exceeding expectations by 3.67% to 7.7%. This strong performance led the company to raise its full-year fiscal 2026 outlook, projecting revenue of approximately $10.36 billion and adjusted EPS of nearly $39.52 at the midpoint. However, investor concerns emerged regarding the company's increased debt load, as TransDigm raised an additional $1.5 billion in debt through an offering completed on April 17, 2026, to help fund the $2.2 billion acquisition of Jet Parts Engineering and Victor Sierra. This increased leverage, alongside substantial share repurchases totaling $905 million year-to-date through May 5, 2026, contributed to balance sheet risk perception and higher financing costs, driving a 5.57% stock decline on April 21, 2026.
2. Significant Insider Selling Activity.
The stock's upward momentum was constrained by considerable insider selling during the period. Over the 90 days leading up to June 16, 2026, insiders sold 38,196 shares totaling $46,567,024. Notably, Director W Nicholas Howley executed a sale of 10,132 shares on March 18, 2026, valued at $12,290,622.60. This high volume of insider disposition, with a buy-to-sell ratio of just 0.01x over the past twelve months, signaled a potential lack of confidence among those closest to the company and was flagged as a red flag for investors.
3. Mixed Analyst Sentiment and Price Target Adjustments.
Analyst ratings reflected a cautious optimism that contributed to the sideways movement. While TransDigm held an average "Moderate Buy" rating with a median price target of $1,492.50 as of June 16, 2026, some analysts adjusted their outlook negatively. On May 6, 2026, Susquehanna lowered its price target from $1,400 to $1,350 while maintaining a "neutral" rating, and Deutsche Bank, despite boosting its price objective, maintained a "hold" rating. Additionally, Wall Street Zen and Weiss Ratings downgraded the stock from "buy" to "hold" during the period. This mixed sentiment, coupled with the stock trading near the lower end of its 52-week range (21%) as of June 8, 2026, contributed to a lack of strong directional movement.
4. Stabilizing Aerospace & Defense Market with Geopolitical Headwinds.
The broader aerospace and defense sector presented a mixed bag of opportunities and challenges. TransDigm benefited from strong commercial aftermarket performance, driven by improving air travel and increased aircraft usage, which contributed to 11.0% organic sales growth in fiscal Q2 2026. Additionally, the U.S. defense sector was poised for transformative growth in 2026, with increased budgets and national security priorities, exemplified by a nearly $14 billion boost to the U.S. Space Force budget in fiscal 2026. However, geopolitical tensions, such as the prolonged Strait of Hormuz disruption, created significant commercial aviation disruption and added an estimated $15-$20 per barrel risk premium to oil prices, introducing macroeconomic uncertainties for the sector.
Show less
TransDigm (TDG) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Earnings and Upgraded Full-Year Guidance Offset by Mounting Debt.
TransDigm reported robust fiscal Q2 2026 results on May 5, 2026, with earnings per share (EPS) of $9.85, surpassing analyst estimates by 5.01% to 6.26%. Quarterly revenue increased 18.3% year-over-year to $2.54 billion, exceeding expectations by 3.67% to 7.7%. This strong performance led the company to raise its full-year fiscal 2026 outlook, projecting revenue of approximately $10.36 billion and adjusted EPS of nearly $39.52 at the midpoint. However, investor concerns emerged regarding the company's increased debt load, as TransDigm raised an additional $1.5 billion in debt through an offering completed on April 17, 2026, to help fund the $2.2 billion acquisition of Jet Parts Engineering and Victor Sierra. This increased leverage, alongside substantial share repurchases totaling $905 million year-to-date through May 5, 2026, contributed to balance sheet risk perception and higher financing costs, driving a 5.57% stock decline on April 21, 2026.
2. Significant Insider Selling Activity.
The stock's upward momentum was constrained by considerable insider selling during the period. Over the 90 days leading up to June 16, 2026, insiders sold 38,196 shares totaling $46,567,024. Notably, Director W Nicholas Howley executed a sale of 10,132 shares on March 18, 2026, valued at $12,290,622.60. This high volume of insider disposition, with a buy-to-sell ratio of just 0.01x over the past twelve months, signaled a potential lack of confidence among those closest to the company and was flagged as a red flag for investors.
3. Mixed Analyst Sentiment and Price Target Adjustments.
Analyst ratings reflected a cautious optimism that contributed to the sideways movement. While TransDigm held an average "Moderate Buy" rating with a median price target of $1,492.50 as of June 16, 2026, some analysts adjusted their outlook negatively. On May 6, 2026, Susquehanna lowered its price target from $1,400 to $1,350 while maintaining a "neutral" rating, and Deutsche Bank, despite boosting its price objective, maintained a "hold" rating. Additionally, Wall Street Zen and Weiss Ratings downgraded the stock from "buy" to "hold" during the period. This mixed sentiment, coupled with the stock trading near the lower end of its 52-week range (21%) as of June 8, 2026, contributed to a lack of strong directional movement.
4. Stabilizing Aerospace & Defense Market with Geopolitical Headwinds.
The broader aerospace and defense sector presented a mixed bag of opportunities and challenges. TransDigm benefited from strong commercial aftermarket performance, driven by improving air travel and increased aircraft usage, which contributed to 11.0% organic sales growth in fiscal Q2 2026. Additionally, the U.S. defense sector was poised for transformative growth in 2026, with increased budgets and national security priorities, exemplified by a nearly $14 billion boost to the U.S. Space Force budget in fiscal 2026. However, geopolitical tensions, such as the prolonged Strait of Hormuz disruption, created significant commercial aviation disruption and added an estimated $15-$20 per barrel risk premium to oil prices, introducing macroeconomic uncertainties for the sector.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 1.1% change in TDG stock from 2/28/2026 to 6/17/2026 was primarily driven by a 4.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282026 | 6172026 | Change |
|---|---|---|---|
| Stock Price ($) | 1302.79 | 1316.75 | 1.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 9,109 | 9,503 | 4.3% |
| Net Income Margin (%) | 22.2% | 21.9% | -1.5% |
| P/E Multiple | 37.4 | 36.8 | -1.6% |
| Shares Outstanding (Mil) | 58 | 58 | 0.0% |
| Cumulative Contribution | 1.1% |
Market Drivers
2/28/2026 to 6/17/2026| Return | Correlation | |
|---|---|---|
| TDG | 1.1% | |
| Market (SPY) | 8.3% | 44.7% |
| Sector (XLI) | 1.7% | 59.2% |
Fundamental Drivers
The -3.2% change in TDG stock from 11/30/2025 to 6/17/2026 was primarily driven by a -6.7% change in the company's Net Income Margin (%).| (LTM values as of) | 11302025 | 6172026 | Change |
|---|---|---|---|
| Stock Price ($) | 1360.17 | 1316.75 | -3.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8,830 | 9,503 | 7.6% |
| Net Income Margin (%) | 23.5% | 21.9% | -6.7% |
| P/E Multiple | 38.2 | 36.8 | -3.6% |
| Shares Outstanding (Mil) | 58 | 58 | 0.0% |
| Cumulative Contribution | -3.2% |
Market Drivers
11/30/2025 to 6/17/2026| Return | Correlation | |
|---|---|---|
| TDG | -3.2% | |
| Market (SPY) | 9.0% | 41.8% |
| Sector (XLI) | 17.6% | 48.0% |
Fundamental Drivers
The -4.2% change in TDG stock from 5/31/2025 to 6/17/2026 was primarily driven by a -12.3% change in the company's P/E Multiple.| (LTM values as of) | 5312025 | 6172026 | Change |
|---|---|---|---|
| Stock Price ($) | 1373.96 | 1316.75 | -4.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8,388 | 9,503 | 13.3% |
| Net Income Margin (%) | 22.7% | 21.9% | -3.3% |
| P/E Multiple | 42.0 | 36.8 | -12.3% |
| Shares Outstanding (Mil) | 58 | 58 | -0.2% |
| Cumulative Contribution | -4.2% |
Market Drivers
5/31/2025 to 6/17/2026| Return | Correlation | |
|---|---|---|
| TDG | -4.2% | |
| Market (SPY) | 27.2% | 32.4% |
| Sector (XLI) | 27.4% | 43.3% |
Fundamental Drivers
The 99.1% change in TDG stock from 5/31/2023 to 6/17/2026 was primarily driven by a 61.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312023 | 6172026 | Change |
|---|---|---|---|
| Stock Price ($) | 661.30 | 1316.75 | 99.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,897 | 9,503 | 61.1% |
| Net Income Margin (%) | 17.6% | 21.9% | 24.7% |
| P/E Multiple | 36.4 | 36.8 | 1.0% |
| Shares Outstanding (Mil) | 57 | 58 | -1.9% |
| Cumulative Contribution | 99.1% |
Market Drivers
5/31/2023 to 6/17/2026| Return | Correlation | |
|---|---|---|
| TDG | 99.1% | |
| Market (SPY) | 84.3% | 46.8% |
| Sector (XLI) | 93.9% | 56.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TDG Return | 3% | 2% | 67% | 32% | 12% | -2% | 153% |
| Peers Return | 8% | 3% | 21% | 29% | 43% | 14% | 184% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 100% |
Monthly Win Rates [3] | |||||||
| TDG Win Rate | 50% | 50% | 75% | 75% | 67% | 67% | |
| Peers Win Rate | 53% | 47% | 48% | 62% | 65% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| TDG Max Drawdown | -19% | -25% | -11% | -12% | -18% | -22% | |
| Peers Max Drawdown | -16% | -26% | -20% | -13% | -19% | -19% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: RTX, PH, HON, HEI, WWD. See TDG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/17/2026 (YTD)
How Low Can It Go
| Event | TDG | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -19.9% | -24.5% |
| % Gain to Breakeven | 24.9% | 32.4% |
| Time to Breakeven | 54 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -61.7% | -33.7% |
| % Gain to Breakeven | 160.9% | 50.9% |
| Time to Breakeven | 435 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -16.1% | -19.2% |
| % Gain to Breakeven | 19.2% | 23.8% |
| Time to Breakeven | 35 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -21.2% | -3.7% |
| % Gain to Breakeven | 26.9% | 3.9% |
| Time to Breakeven | 62 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -23.4% | -12.2% |
| % Gain to Breakeven | 30.5% | 13.9% |
| Time to Breakeven | 91 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -20.6% | -17.9% |
| % Gain to Breakeven | 26.0% | 21.8% |
| Time to Breakeven | 81 days | 123 days |
In The Past
TransDigm's stock fell -8.2% during the 2025 US Tariff Shock. Such a loss loss requires a 9.0% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | TDG | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -61.7% | -33.7% |
| % Gain to Breakeven | 160.9% | 50.9% |
| Time to Breakeven | 435 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -21.2% | -3.7% |
| % Gain to Breakeven | 26.9% | 3.9% |
| Time to Breakeven | 62 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -23.4% | -12.2% |
| % Gain to Breakeven | 30.5% | 13.9% |
| Time to Breakeven | 91 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -20.6% | -17.9% |
| % Gain to Breakeven | 26.0% | 21.8% |
| Time to Breakeven | 81 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -47.2% | -53.4% |
| % Gain to Breakeven | 89.3% | 114.4% |
| Time to Breakeven | 298 days | 1085 days |
In The Past
TransDigm's stock fell -8.2% during the 2025 US Tariff Shock. Such a loss loss requires a 9.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About TransDigm (TDG)
TransDigm Group Incorporated (TDG) is a leading global producer of highly engineered aerospace components and systems. The company specializes in designing and manufacturing a wide array of critical parts that are essential for the functionality and safety of aircraft, from engines and airframes to various cabin and cockpit systems. While its core business is aviation, TransDigm also supplies specialized components for select non-aviation applications.
TDG's aviation products are segmented into "Power & Control" and "Airframe." The Power & Control segment provides items like mechanical/electro-mechanical actuators, ignition systems, specialized pumps, valves, electric motors, and power conditioning devices, serving engine manufacturers, airlines, and military clients. The Airframe segment focuses on components such as engineered latching and locking devices, cockpit security systems, displays, audio systems, lavatory parts, seat belts, and thermal protection, catering to airframe manufacturers and other aviation customers. These products are typically proprietary and sold for both new aircraft production and aftermarket maintenance and repair.
TransDigm primarily serves the aerospace industry, with key customers including major airframe manufacturers, engine and power system suppliers, commercial airlines, third-party maintenance providers, and military buying agencies globally. Beyond aviation, its Non-aviation segment provides specialized components such as seat belts for ground transportation, electro-mechanical actuators for space applications, and industrial turbine controls for the energy and oil & gas sectors, broadening its market reach beyond its core aerospace focus.
AI Analysis | Feedback
Here are 1-2 brief analogies to describe TransDigm:
- Like the 'Intel Inside' for aircraft, supplying a vast array of critical, highly engineered components that make planes fly and function.
- A specialized Parker-Hannifin, focusing on essential motion, control, and other engineered components for aerospace and demanding industrial applications.
AI Analysis | Feedback
- Aircraft Actuation and Control Systems: Designs and supplies mechanical/electro-mechanical actuators and controls, databus and power controls for aviation, space, and land-based turbine applications.
- Aircraft Engine and Power Components: Manufactures ignition systems, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, and batteries/chargers for aircraft.
- Aircraft Airframe and Cabin Components: Provides engineered latching/locking devices, rods, connectors, elastomer sealing solutions, cockpit security and displays, audio/radio systems, lavatory components, and customized interior surfaces.
- Safety and Restraint Systems: Offers seat belts and safety restraints for both aviation and ground transportation applications, along with parachutes.
- Cargo Handling and Lifting Devices: Supplies hoists, winches, lifting devices, and complete cargo loading and handling systems for aircraft.
- Specialized Industrial Components: Develops refueling systems for heavy equipment and specific hydraulic/electromechanical actuators and fuel valves for land-based gas turbines.
AI Analysis | Feedback
TransDigm Group Incorporated (TDG) sells primarily to other companies and organizations across its aviation and non-aviation segments. Its major customers can be categorized as follows:
-
Aircraft Manufacturers and Major Aerospace Subsystem Suppliers: These companies integrate TransDigm's specialized components into complete airframes, engines, and various complex aircraft systems. Key examples of such publicly traded customers include:
- The Boeing Company (BA)
- Airbus SE (AIR.PA)
- Lockheed Martin Corporation (LMT)
- Raytheon Technologies Corporation (RTX)
- General Electric Company (GE) (for GE Aerospace)
- Safran S.A. (SAF.PA)
- Honeywell International Inc. (HON)
-
Major Commercial and Cargo Airlines: Airlines are direct or indirect customers, purchasing components for new aircraft through manufacturers and directly for maintenance, repair, and overhaul (MRO) activities of their existing fleets. Examples of publicly traded major airlines include:
- Delta Air Lines, Inc. (DAL)
- United Airlines Holdings, Inc. (UAL)
- American Airlines Group Inc. (AAL)
- Southwest Airlines Co. (LUV)
- Military Buying Agencies: Government defense departments and agencies, such as the U.S. Department of Defense, are significant customers, procuring components for various military aircraft and defense systems. These entities are not publicly traded companies.
- Maintenance, Repair, and Overhaul (MRO) Providers and Repair Depots: These entities specialize in servicing existing aircraft fleets and procure parts directly from TransDigm or its authorized distributors. Some are independent companies, while others are divisions of airlines or manufacturers.
-
Heavy Equipment, Off-Road Vehicle, and Land-Based Turbine Manufacturers: In its Non-aviation segment, TransDigm supplies components for industrial and land-based applications. Examples of publicly traded companies in this category include:
- Caterpillar Inc. (CAT)
- Deere & Company (DE)
- Komatsu Ltd. (6301.T)
-
Satellite and Space System Suppliers: For its non-aviation segment, TransDigm provides electro-mechanical actuators and other components for space applications. Examples of publicly traded companies in this domain include:
- Northrop Grumman Corporation (NOC)
- Lockheed Martin Corporation (LMT) (also a major aerospace customer)
- Child Restraint System Suppliers: These companies manufacture seat belts and safety restraints for ground transportation applications, including child safety seats.
AI Analysis | Feedback
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AI Analysis | Feedback
Mike Lisman
President and Chief Executive Officer
Mike Lisman was appointed President and Chief Executive Officer of TransDigm Group on October 1, 2025. He previously served as Co-Chief Operating Officer from May 2023 to September 2025, and as Chief Financial Officer and Executive Vice President from July 2018 to May 2023. Mr. Lisman also led the Company's Mergers and Acquisitions group and was a Business Unit Manager at Aero Fluid Products, a TransDigm subsidiary. Before joining TransDigm in 2015, he worked in private equity with Warburg Pincus in New York and London, and also held prior private equity and investment banking roles at The Carlyle Group and Morgan Stanley. Mr. Lisman holds a bachelor's degree in aerospace engineering from the University of Notre Dame and an MBA from Harvard Business School.
Sarah Wynne
Chief Financial Officer
Ms. Wynne was appointed Chief Financial Officer in May 2023. Prior to that, she served as Chief Accounting Officer from November 2018 to May 2023, and as Group Controller from April 2015 to October 2018. She also served as Controller of the Aero Fluid Products division, a wholly-owned subsidiary of TransDigm Inc., from October 2009 to March 2015, and held other accounting roles within the Company. Ms. Wynne has been with TransDigm for 20 years.
Joel Reiss
Co-Chief Operating Officer
Mr. Reiss was appointed Co-Chief Operating Officer in May 2023. He previously served as Executive Vice President from 2015 to 2023, President of Hartwell Corporation from 2012 to 2015, President of Skurka Aerospace from 2010 to 2012, and Director of Operations at Adams Rite Aerospace. Mr. Reiss joined TransDigm in 2000.
Patrick Murphy
Co-Chief Operating Officer
Mr. Murphy was appointed Co-Chief Operating Officer in August 2025. He previously served as Executive Vice President from 2019 to 2025 and as President of HarcoSemco from 2015 to 2019. Before joining TransDigm, Mr. Murphy was Vice President and General Manager for two Danaher Corporation businesses and held several other senior leadership roles in the industrial manufacturing and high-technology industries.
Armani Vadiee
General Counsel, Chief Compliance Officer, and Secretary
Mr. Vadiee was appointed General Counsel, Chief Compliance Officer, and Secretary in July 2025. Prior to this role, he served as TransDigm's Vice President of Global Public Sector. Before joining TransDigm, Mr. Vadiee was a partner at a Washington D.C.-based law firm, where he served as outside counsel to TransDigm for over 10 years, developing a deep understanding of the Company's operations and regulatory environment.
AI Analysis | Feedback
The key risks to TransDigm Group Incorporated's (TDG) business include its high financial leverage, significant dependence on the cyclical aerospace and defense markets, and potential supply chain disruptions coupled with regulatory scrutiny on its pricing practices.
- High Financial Leverage: TransDigm operates with an aggressive financial leverage model, utilizing substantial debt to fund growth and special dividends. This strategy exposes the company to significant interest rate and refinancing risks. For example, TransDigm's debt-to-equity ratio was approximately -5.00 in mid-2025, which is a considerable outlier compared to the industry average of 0.38, reflecting a unique, debt-fueled financial engineering approach. While the company has taken steps to hedge a portion of its debt, this high leverage can impact its net income, as projected for fiscal year 2026.
- Dependence on Cyclical Aerospace and Defense Markets: TransDigm's business is heavily concentrated in the aerospace and defense sectors, making it susceptible to industry-specific risks and economic downturns. Fluctuations in defense spending, changes in government budget trends, and the cyclical nature of commercial aviation (e.g., demand for air travel, new aircraft production rates) can directly impact the company's sales, profitability, and cash flows. A period of significant market disruption in these industries could disproportionately affect TransDigm compared to more diversified companies.
- Supply Chain Disruptions and Regulatory Scrutiny on Pricing: The company faces ongoing challenges related to supply chain constraints, rising costs of production, and its reliance on a concentrated supplier base. Geopolitical tensions or policy shifts, such as the Pentagon's ban on Chinese-origin rare earth materials starting in 2027, can exacerbate these disruptions, leading to increased costs and potential inefficiencies. Furthermore, TransDigm's pricing practices, particularly for parts supplied to the U.S. government, have faced scrutiny. Regulatory changes or increased transparency requirements could limit the company's ability to maintain its historical profit margins and aggressive pricing strategy in both defense and commercial markets.
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Additive manufacturing (3D printing) of aerospace components presents an emerging threat to TransDigm's traditional business model. As technology advances and regulatory bodies certify more 3D-printed parts for flight, original equipment manufacturers (OEMs), airlines, and third-party maintenance providers (MROs) are increasingly able to produce complex and critical components in-house or on-demand. This capability could reduce reliance on traditional suppliers like TransDigm for certain parts, particularly in the lucrative aftermarket, by enabling customers to print spares or incorporate additive manufacturing into their own production processes. Major aerospace companies are actively investing in and adopting additive manufacturing for both production and maintenance, indicating a clear shift in how aircraft components can be sourced and manufactured.
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TransDigm Group Incorporated (TDG) operates in several distinct markets for its aircraft components and non-aviation products. The addressable market sizes for its main products and services are as follows:
Aviation Segments (Power & Control, Airframe)
- Aerospace Parts Manufacturing Market: The global aerospace parts manufacturing market was valued at approximately USD 1.02 trillion in 2025 and is projected to reach USD 1.39 trillion by 2030. North America held the largest revenue share in this market.
- Aircraft Actuators Market: The global aircraft actuators market size was estimated at USD 24.4 billion in 2025 and is projected to grow to USD 46.3 billion by 2034. In 2025, North America accounted for USD 10.2 billion of this market.
- Aircraft Cabin Interior Market: The global aircraft cabin interior market was valued at USD 41.10 billion in 2025 and is projected to reach USD 83.80 billion by 2034. North America represented USD 13.2 billion of this market in 2025.
- Aircraft Landing Gear Market: The global aircraft landing gear market size was valued at USD 14.98 billion in 2025 and is projected to reach USD 38.21 billion by 2034. North America held a significant share, valued at USD 5.9 billion in 2025.
- Aircraft Electrical Systems Market: The global aircraft electrical systems market is projected to grow from USD 94.06 billion in 2025 to USD 110.40 billion by 2030. North America commanded a 42.22% share in 2025, equating to approximately USD 39.7 billion.
- Aerospace Fasteners Market: The global aerospace fastener market is estimated at USD 9.85 billion in 2025 and is expected to reach USD 19.3 billion by 2035. North America accounted for approximately USD 4.07 billion of this market in 2025.
- Aerospace Electronics Market: The global aerospace electronics market size was USD 127.20 billion in 2025 and is predicted to increase to approximately USD 237.33 billion by 2035. North America is the largest market for aerospace electronics.
Non-Aviation Segment
- Space Sensors and Actuators Market: The global space sensors and actuators market size was valued at USD 5.03 billion in 2024 and is expected to reach USD 19.33 billion by 2032. North America dominated this market with a 50.36% revenue share in 2024, approximately USD 2.53 billion.
- Industrial Gas Turbine Market: The global industrial gas turbine market size was USD 9.55 billion in 2025 and is expected to grow to USD 12.16 billion by 2034. North America held a 30.84% market share in 2025, approximately USD 2.94 billion.
- Ground Transportation Safety (Road Safety) Market: The global road safety market was valued at USD 4.59 billion in 2024 and is projected to expand to nearly USD 11.71 billion by 2032. North America accounted for 34.49% of the market in 2025, estimated at approximately USD 1.58 billion in 2024.
- Refueling Systems for Heavy Equipment used in mining, construction, and other industries: null
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TransDigm Group Incorporated (TDG) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market trends:
- Strategic Acquisitions: TransDigm consistently emphasizes an acquisition-driven growth strategy, focusing on businesses that offer proprietary aerospace components with significant aftermarket content. Recent acquisitions, such as Simmonds Precision Products, Servotronics, Stellant Systems, Jet Parts Engineering, and Victor Sierra Aviation, are anticipated to bolster the company's product portfolio and market presence, contributing to its revenue expansion.
- Robust Commercial Aftermarket Demand: A substantial portion of TransDigm's revenue, approximately 55% in fiscal year 2025, stems from its high-margin commercial aftermarket business. This segment benefits from the company's proprietary, essential components that generate recurring demand throughout the lifecycle of aircraft. Forecasts indicate high single-digit to low double-digit percentage growth in commercial aftermarket revenue for fiscal year 2026. This is supported by steadily improving commercial air travel, increased flight hours, and higher aircraft utilization.
- Growth in the Defense Market: The defense sector is a consistent and strong driver for TransDigm, with expectations of mid-single-digit to high single-digit percentage growth in defense revenue for fiscal year 2026. This growth is fueled by robust defense spending globally and new business wins.
- Recovery and Growth in Commercial OEM Production: While subject to fluctuations in production rates, the commercial OEM (Original Equipment Manufacturer) market is projected to see high single-digit to mid-teens percentage revenue growth. The recovery in commercial aviation and increased aircraft production rates are expected to drive demand for TransDigm's highly engineered components.
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Share Repurchases
- TransDigm authorized a $2,200 million stock repurchase program in January 2022, which superseded a smaller $650 million program and has no expiration date.
- The company executed $315 million in share repurchases in the first quarter of fiscal year 2025, acquiring 252,800 shares at an average price of $1,248.65 per share.
- In fiscal year 2025, TransDigm repurchased $500 million of its stock. Additionally, between October 1, 2025, and December 27, 2025, $106.49 million was spent to repurchase 85,212 shares, bringing the total under the May 2022 plan to $1,518.8 million.
Outbound Investments
- In January 2026, TransDigm announced an agreement to acquire Jet Parts Engineering and Victor Sierra Aviation Holdings for approximately $2.2 billion in cash, focusing on proprietary aftermarket solutions.
- TransDigm entered into a definitive agreement in December 2025 to acquire Stellant Systems, Inc. for approximately $960 million in cash, aiming to expand its highly engineered, proprietary product offerings for aerospace and defense.
- In October 2025, the company completed the acquisition of Simmonds Precision Products from RTX Corporation for $765 million, adding fuel and proximity sensing and structural health monitoring solutions to its portfolio.
Capital Expenditures
- Expected capital expenditures for fiscal year 2024 were projected to be between $255 million and $285 million.
- For fiscal year 2026, TransDigm anticipates capital expenditures ranging from $280 million to $310 million.
- Reinvesting in its businesses, which includes capital expenditures, remains a primary capital allocation priority for TransDigm.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 386.08 |
| Mkt Cap | 98.0 |
| Rev LTM | 15,245 |
| Op Inc LTM | 4,418 |
| FCF LTM | 1,850 |
| FCF 3Y Avg | 1,776 |
| CFO LTM | 2,105 |
| CFO 3Y Avg | 1,973 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.9% |
| Rev Chg 3Y Avg | 12.8% |
| Rev Chg Q | 14.5% |
| QoQ Delta Rev Chg LTM | 3.4% |
| Op Inc Chg LTM | 20.7% |
| Op Inc Chg 3Y Avg | 24.1% |
| Op Mgn LTM | 19.0% |
| Op Mgn 3Y Avg | 19.2% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 19.5% |
| CFO/Rev 3Y Avg | 18.1% |
| FCF/Rev LTM | 17.5% |
| FCF/Rev 3Y Avg | 16.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 98.0 |
| P/S | 6.1 |
| P/Op Inc | 26.8 |
| P/EBIT | 25.0 |
| P/E | 36.3 |
| P/CFO | 36.4 |
| Total Yield | 3.9% |
| Dividend Yield | 1.1% |
| FCF Yield 3Y Avg | 2.7% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 10.8% |
| 3M Rtn | 6.8% |
| 6M Rtn | 10.0% |
| 12M Rtn | 21.7% |
| 3Y Rtn | 106.9% |
| 1M Excs Rtn | 10.6% |
| 3M Excs Rtn | -5.2% |
| 6M Excs Rtn | -1.0% |
| 12M Excs Rtn | -0.7% |
| 3Y Excs Rtn | 35.1% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Power & Control | 4,559 | 3,941 | 3,316 | 2,873 | 2,550 |
| Airframe | 4,112 | 3,809 | 3,094 | 2,391 | 2,083 |
| Non-aviation | 160 | 190 | 175 | 165 | 165 |
| Total | 8,831 | 7,940 | 6,585 | 5,429 | 4,798 |
| $ Mil | 2025 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|
| Power & Control | 2,595 | 1,047 | 895 | 722 | |
| Airframe | 2,210 | 704 | 675 | 658 | 585 |
| Non-aviation | 67 | 39 | 39 | 25 | 22 |
| Refinancing costs | -11 | ||||
| Other, net | -18 | -5 | -13 | 0 | |
| Acquisition transaction and integration-related expenses | -42 | -28 | -31 | -58 | |
| Unallocated corporate Earnings before interest, taxes, depreciation and amortization (EBITDA) | -112 | -41 | -39 | -30 | |
| Non-cash stock and deferred compensation expense | -157 | ||||
| Depreciation and amortization expense | -367 | ||||
| Corporate | -1 | -1 | -1 | -187 | |
| Stock compensation expense | -58 | -46 | -48 | ||
| Power&Control | 653 | ||||
| Total | 4,165 | 1,655 | 1,480 | 1,268 | 1,074 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Airframe | 10,267 | 10,045 | 8,972 | 7,781 | 7,472 |
| Power & Control | 9,859 | 9,180 | 7,315 | 6,994 | 6,980 |
| Corporate | 2,581 | 6,168 | 3,449 | 3,094 | 4,634 |
| Non-aviation | 202 | 193 | 234 | 238 | 229 |
| Total | 22,909 | 25,586 | 19,970 | 18,107 | 19,315 |
Price Behavior
Price Behavior
| Market Price | $1,316.75 | |
| Market Cap ($ Bil) | 76.6 | |
| First Trading Date | 03/15/2006 | |
| Distance from 52W High | -13.2% | |
| 50 Days | 200 Days | |
| DMA Price | $1,217.49 | $1,282.60 |
| DMA Trend | down | indeterminate |
| Distance from DMA | 8.2% | 2.7% |
| 3M | 1YR | |
| Volatility | 33.5% | 30.5% |
| Downside Capture | 58.82 | 87.39 |
| Upside Capture | 67.08 | 62.60 |
| Correlation (SPY) | 46.7% | 33.5% |
TDG Betas & Captures as of 5/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.26 | 1.83 | 1.10 | 1.03 | 0.82 | 0.82 |
| Up Beta | 2.39 | 2.43 | 1.68 | 1.34 | 1.11 | 0.83 |
| Down Beta | 3.29 | 3.23 | 0.94 | 1.03 | 0.69 | 0.81 |
| Up Capture | 91% | 85% | 59% | 64% | 47% | 65% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 11 | 21 | 26 | 59 | 131 | 419 |
| Down Capture | -32% | 185% | 118% | 114% | 98% | 93% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 9 | 20 | 37 | 65 | 119 | 332 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TDG | |
|---|---|---|---|---|
| TDG | -1.4% | 30.4% | -0.03 | - |
| Sector ETF (XLI) | 26.8% | 16.2% | 1.28 | 43.4% |
| Equity (SPY) | 24.5% | 12.4% | 1.48 | 33.0% |
| Gold (GLD) | 24.7% | 27.5% | 0.79 | 3.8% |
| Commodities (DBC) | 22.7% | 18.9% | 0.95 | -22.3% |
| Real Estate (VNQ) | 10.6% | 13.8% | 0.49 | 27.0% |
| Bitcoin (BTCUSD) | -38.7% | 42.4% | -1.04 | 12.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TDG | |
|---|---|---|---|---|
| TDG | 19.2% | 28.4% | 0.63 | - |
| Sector ETF (XLI) | 13.4% | 17.5% | 0.60 | 65.4% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | 59.5% |
| Gold (GLD) | 16.9% | 18.3% | 0.75 | 6.7% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 9.1% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 46.9% |
| Bitcoin (BTCUSD) | 12.3% | 54.2% | 0.42 | 23.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TDG | |
|---|---|---|---|---|
| TDG | 23.0% | 34.0% | 0.70 | - |
| Sector ETF (XLI) | 14.1% | 20.0% | 0.62 | 67.1% |
| Equity (SPY) | 15.2% | 18.0% | 0.72 | 60.1% |
| Gold (GLD) | 12.4% | 16.1% | 0.63 | 2.6% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 20.6% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 54.0% |
| Bitcoin (BTCUSD) | 60.4% | 66.8% | 1.00 | 17.5% |
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Earnings Returns History
Updated 6/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/5/2026 | 3.6% | 4.3% | 5.4% |
| 2/3/2026 | -9.3% | -9.4% | -8.4% |
| 11/12/2025 | 1.1% | 4.4% | 0.1% |
| 8/5/2025 | -11.9% | -12.4% | -15.1% |
| 5/6/2025 | -5.5% | -3.8% | -1.6% |
| 2/4/2025 | -3.3% | -1.3% | 1.6% |
| 11/7/2024 | -3.8% | -1.4% | -7.5% |
| 8/6/2024 | 2.3% | 2.0% | 11.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 15 |
| # Negative | 12 | 12 | 9 |
| Median Positive | 3.0% | 4.5% | 5.4% |
| Median Negative | -2.2% | -3.7% | -6.9% |
| Max Positive | 9.8% | 11.1% | 15.5% |
| Max Negative | -11.9% | -12.4% | -15.1% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/5/2026 | 3.6% | 4.3% | 5.4% |
| 2/3/2026 | -9.3% | -9.4% | -8.4% |
| 11/12/2025 | 1.1% | 4.4% | 0.1% |
| 8/5/2025 | -11.9% | -12.4% | -15.1% |
| 5/6/2025 | -5.5% | -3.8% | -1.6% |
| 2/4/2025 | -3.3% | -1.3% | 1.6% |
| 11/7/2024 | -3.8% | -1.4% | -7.5% |
| 8/6/2024 | 2.3% | 2.0% | 11.7% |
| 5/7/2024 | 0.7% | -1.6% | 4.7% |
| 2/8/2024 | -1.6% | 0.0% | 1.6% |
| 11/9/2023 | 8.7% | 11.1% | 14.0% |
| 8/8/2023 | -2.8% | -5.4% | -3.4% |
| 5/9/2023 | 4.7% | 4.6% | 4.3% |
| 2/7/2023 | 3.1% | 2.8% | 6.1% |
| 11/10/2022 | 9.8% | 5.1% | 4.6% |
| 8/9/2022 | 0.4% | 5.6% | -1.4% |
| 5/10/2022 | 3.8% | 0.1% | 13.0% |
| 2/8/2022 | 2.0% | -0.4% | 0.1% |
| 11/16/2021 | -1.0% | -3.7% | -10.9% |
| 8/10/2021 | -1.2% | -3.9% | -6.9% |
| 5/11/2021 | -0.2% | -0.8% | 10.4% |
| 2/9/2021 | -0.6% | -4.6% | -0.1% |
| 11/12/2020 | -0.8% | 4.8% | 7.3% |
| 8/4/2020 | 2.9% | 10.7% | 15.5% |
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 15 |
| # Negative | 12 | 12 | 9 |
| Median Positive | 3.0% | 4.5% | 5.4% |
| Median Negative | -2.2% | -3.7% | -6.9% |
| Max Positive | 9.8% | 11.1% | 15.5% |
| Max Negative | -11.9% | -12.4% | -15.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/03/2026 | 10-Q |
| 09/30/2025 | 11/12/2025 | 10-K |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/04/2025 | 10-Q |
| 09/30/2024 | 11/07/2024 | 10-K |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/08/2024 | 10-Q |
| 09/30/2023 | 11/09/2023 | 10-K |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/07/2023 | 10-Q |
| 09/30/2022 | 11/10/2022 | 10-K |
| 06/30/2022 | 08/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/03/2026 | 10-Q |
| 09/30/2025 | 11/12/2025 | 10-K |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/04/2025 | 10-Q |
| 09/30/2024 | 11/07/2024 | 10-K |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/08/2024 | 10-Q |
| 09/30/2023 | 11/09/2023 | 10-K |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/07/2023 | 10-Q |
| 09/30/2022 | 11/10/2022 | 10-K |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 02/08/2022 | 10-Q |
| 09/30/2021 | 11/16/2021 | 10-K |
| 06/30/2021 | 08/10/2021 | 10-Q |
| 03/31/2021 | 05/11/2021 | 10-Q |
| 12/31/2020 | 02/09/2021 | 10-Q |
| 09/30/2020 | 11/12/2020 | 10-K |
| 06/30/2020 | 08/04/2020 | 10-Q |
| 03/31/2020 | 05/05/2020 | 10-Q |
| 12/31/2019 | 02/04/2020 | 10-Q |
| 09/30/2019 | 11/19/2019 | 10-K |
| 06/30/2019 | 08/07/2019 | 10-Q |
Recent Forward Guidance
Updated 5/31/2026Latest: Q2 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 10.30 Bil | 10.36 Bil | 10.42 Bil | 4.2% | Raised | Guidance: 9.94 Bil for 2026 | |
| 2026 Net Income | 2.03 Bil | 2.07 Bil | 2.11 Bil | 2.9% | Raised | Guidance: 2.01 Bil for 2026 | |
| 2026 EPS | 33.9 | 34.6 | 35.3 | 3.5% | Raised | Guidance: 33.4 for 2026 | |
| 2026 Adjusted EPS | 38.8 | 39.5 | 40.2 | 3.0% | Raised | Guidance: 38.4 for 2026 | |
| 2026 EBITDA As Defined | 5.37 Bil | 5.42 Bil | 5.47 Bil | 4.0% | Raised | Guidance: 5.21 Bil for 2026 | |
Prior: Q1 2026 Earnings Reported 2/3/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Sales | 9.85 Bil | 9.94 Bil | 10.04 Bil | 0.9% | Raised | Guidance: 9.85 Bil for 2026 | |
| 2026 Net Income | 1.95 Bil | 2.01 Bil | 2.06 Bil | 2.1% | Raised | Guidance: 1.97 Bil for 2026 | |
| 2026 Earnings per share | 32.5 | 33.4 | 34.4 | 2.6% | Raised | Guidance: 32.6 for 2026 | |
| 2026 EBITDA As Defined | 5.14 Bil | 5.21 Bil | 5.28 Bil | 1.2% | Raised | Guidance: 5.15 Bil for 2026 | |
| 2026 Adjusted earnings per share | 37.4 | 38.4 | 39.3 | 2.3% | Raised | Guidance: 37.5 for 2026 | |
Insider Activity
Updated 6/16/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 6162026 | 1276.78 | 3,900 | 4,979,457 | 4,596,421 | Form |
| 2 | Howley, W Nicholas | W. Nicholas Howley Family Trust u/a/d 4/23/99 | Sell | 5192026 | 1180.82 | 10,132 | 11,964,054 | 25,443,705 | Form | |
| 3 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 5182026 | 1154.09 | 3,900 | 4,500,951 | 4,154,724 | Form |
| 4 | Howley, W Nicholas | W. Nicholas Howley Family Trust u/a/d 4/23/99 | Sell | 4212026 | 1265.06 | 10,132 | 12,817,572 | 27,258,862 | Form | |
| 5 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 4162026 | 1280.46 | 3,900 | 4,993,787 | 4,609,650 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 6162026 | 1276.78 | 3,900 | 4,979,457 | 4,596,421 | Form |
| 2 | Howley, W Nicholas | W. Nicholas Howley Family Trust u/a/d 4/23/99 | Sell | 5192026 | 1180.82 | 10,132 | 11,964,054 | 25,443,705 | Form | |
| 3 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 5182026 | 1154.09 | 3,900 | 4,500,951 | 4,154,724 | Form |
| 4 | Howley, W Nicholas | W. Nicholas Howley Family Trust u/a/d 4/23/99 | Sell | 4212026 | 1265.06 | 10,132 | 12,817,572 | 27,258,862 | Form | |
| 5 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 4162026 | 1280.46 | 3,900 | 4,993,787 | 4,609,650 | Form |
| 6 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 3172026 | 1243.70 | 3,900 | 4,850,431 | 4,477,321 | Form |
| 7 | Small, Robert J | Stockbridge Fund, L.P. | Buy | 2272026 | 1285.00 | 1 | 1,285 | 470,492,470 | Form | |
| 8 | Howley, W Nicholas | W. Nicholas Howley Family Trust u/a/d 4/23/99 | Sell | 2192026 | 1307.68 | 10,168 | 13,296,510 | 28,177,294 | Form | |
| 9 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 2182026 | 1293.88 | 3,900 | 5,046,141 | 4,657,976 | Form |
| 10 | Lisman, Michael | President & CEO | Direct | Buy | 2092026 | 1284.26 | 950 | 1,220,048 | 4,185,406 | Form |
| 11 | Stein, Kevin M | Fortuna Trust dated June 1, 2018 | Sell | 2032026 | 1434.49 | 11,075 | 15,886,980 | 11,702,572 | Form | |
| 12 | Stein, Kevin M | Fortuna Trust dated June 1, 2018 | Sell | 2032026 | 1425.79 | 36,925 | 52,647,126 | 27,422,130 | Form | |
| 13 | Murphy, Patrick Joseph | Co-Chief Operating Officer | Direct | Sell | 2032026 | 1430.10 | 290 | 414,729 | 1,508,756 | Form |
| 14 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 1162026 | 1429.92 | 3,900 | 5,576,695 | 5,147,718 | Form |
| 15 | Stein, Kevin M | Fortuna Trust dated June 1, 2018 | Sell | 1162026 | 1406.38 | 7,627 | 10,726,454 | 11,473,242 | Form | |
| 16 | Stein, Kevin M | Fortuna Trust dated June 1, 2018 | Sell | 1062026 | 1373.59 | 25,000 | 34,339,837 | 11,205,775 | Form | |
| 17 | Murphy, Patrick Joseph | Co-Chief Operating Officer | Direct | Sell | 1052026 | 1329.03 | 290 | 385,419 | 1,402,127 | Form |
| 18 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 12162025 | 1290.52 | 3,900 | 5,033,033 | 4,645,877 | Form |
| 19 | Small, Robert J | Direct | Sell | 12112025 | 1290.19 | 4,700 | 6,063,879 | 7,257,302 | Form | |
| 20 | Small, Robert J | Stockbridge Fund, L.P. | Sell | 12092025 | 1335.72 | 75,673 | 101,077,940 | 489,061,857 | Form | |
| 21 | Small, Robert J | Stockbridge Partners LLC | Sell | 12092025 | 1335.72 | 15,280 | 20,409,802 | 91,014,625 | Form | |
| 22 | Stein, Kevin M | Fortuna Trust dated June 1, 2018 | Sell | 12052025 | 1362.29 | 17,526 | 23,875,414 | 11,113,524 | Form | |
| 23 | Murphy, Patrick Joseph | Co-Chief Operating Officer | Direct | Sell | 12022025 | 1351.06 | 290 | 391,807 | 1,425,368 | Form |
| 24 | Stein, Kevin M | Fortuna Trust dated June 1, 2018 | Sell | 12012025 | 1360.73 | 4,592 | 6,248,487 | 11,100,861 | Form | |
| 25 | Stein, Kevin M | Fortuna Trust dated June 1, 2018 | Sell | 11262025 | 1360.06 | 30 | 40,802 | 11,095,369 | Form | |
| 26 | Stein, Kevin M | Fortuna Trust dated June 1, 2018 | Sell | 11262025 | 1360.58 | 4,187 | 5,696,740 | 11,099,594 | Form | |
| 27 | Stein, Kevin M | Fortuna Trust dated June 1, 2018 | Sell | 11242025 | 1360.31 | 230 | 312,871 | 11,097,406 | Form | |
| 28 | Stein, Kevin M | Fortuna Trust dated June 1, 2018 | Sell | 11212025 | 1360.89 | 1,104 | 1,502,424 | 11,102,148 | Form | |
| 29 | Stein, Kevin M | Fortuna Trust dated June 1, 2018 | Sell | 11192025 | 1361.57 | 7,191 | 9,791,048 | 11,107,686 | Form | |
| 30 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 11182025 | 1340.00 | 3,900 | 5,225,988 | 4,823,989 | Form |
| 31 | Howley, W Nicholas | W. Nicholas Howley Family Trust u/a/d 4/23/99 | Sell | 11172025 | 1334.92 | 2,736 | 3,652,334 | 28,764,149 | Form | |
| 32 | Lisman, Michael | President & CEO | Michael Lisman Declaration of Trust dated January 31, 2023 | Buy | 11172025 | 1339.14 | 1,954 | 2,616,674 | 2,616,674 | Form |
| 33 | Murphy, Patrick Joseph | Co-Chief Operating Officer | Direct | Sell | 11042025 | 1310.00 | 290 | 379,900 | 1,382,050 | Form |
| 34 | Stein, Kevin M | Fortuna Trust dated June 1, 2018 | Sell | 10282025 | 1360.00 | 700 | 952,000 | 11,094,880 | Form | |
| 35 | Murphy, Patrick Joseph | Co-Chief Operating Officer | Direct | Sell | 10282025 | 1354.76 | 580 | 785,761 | 1,429,272 | Form |
| 36 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 10212025 | 1279.59 | 3,000 | 3,838,757 | 4,606,509 | Form |
| 37 | Howley, W Nicholas | W. Nicholas Howley Family Trust u/a/d 4/23/99 | Sell | 10152025 | 1298.87 | 2,736 | 3,553,717 | 27,987,485 | Form | |
| 38 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 9242025 | 1276.07 | 3,000 | 3,828,204 | 4,593,845 | Form |
| 39 | Howley, W Nicholas | W. Nicholas Howley Family Trust u/a/d 4/23/99 | Sell | 9162025 | 1282.47 | 2,736 | 3,508,844 | 27,634,090 | Form | |
| 40 | Small, Robert J | Stockbridge Partners LLC | Sell | 9162025 | 1276.98 | 5,000 | 6,384,923 | 106,524,785 | Form | |
| 41 | Graff, Michael | Direct | Sell | 8272025 | 1402.10 | 1,760 | 2,467,687 | 2,753,715 | Form | |
| 42 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 8202025 | 1406.07 | 3,000 | 4,218,208 | 5,061,850 | Form |
| 43 | Howley, W Nicholas | W. Nicholas Howley Family Trust u/a/d 4/23/99 | Sell | 8182025 | 1397.22 | 2,736 | 3,822,793 | 30,106,609 | Form | |
| 44 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 7222025 | 1597.86 | 3,000 | 4,793,579 | 5,752,294 | Form |
| 45 | Howley, W Nicholas | W. Nicholas Howley Family Trust u/a/d 4/23/99 | Sell | 7152025 | 1569.86 | 2,736 | 4,295,128 | 33,826,509 | Form | |
| 46 | Reiss, Joel | Co-Chief Operating Officer | Direct | Sell | 6202025 | 1424.27 | 3,000 | 4,272,802 | 5,127,363 | Form |
| 47 | Howley, W Nicholas | W. Nicholas Howley Family Trust u/a/d 4/23/99 | Sell | 6182025 | 1444.08 | 2,736 | 3,951,016 | 31,116,438 | Form | |
| 48 | Wynne, Sarah | Chief Financial Officer | Direct | Sell | 6132025 | 1450.00 | 1,800 | 2,610,000 | 4,930,000 | Form |
| 49 | Wynne, Sarah | Chief Financial Officer | Direct | Sell | 6122025 | 1452.15 | 3,200 | 4,646,865 | 4,937,294 | Form |
| 50 | Small, Robert J | Stockbridge Partners LLC | Sell | 6122025 | 1425.01 | 5,200 | 7,410,052 | 125,997,959 | Form | |
| 51 | Small, Robert J | Stockbridge Fund, L.P. | Sell | 6122025 | 1425.01 | 40,500 | 57,712,905 | 632,892,541 | Form |
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Core Cache Last Updated: 6/17/2026