TransDigm Group Incorporated (TDG) Balance Sheet

NYSE: TDGAssets, liabilities, debt and equity over 10 years.

TDG balance sheet, FY2025

September 30, 2025 · U.S. dollars

$22.91B assets = $32.59B liabilities + −$9.68B equity

Liabilities exceed assets: shareholders’ equity is negative (−$9.68B).

Both columns are drawn to the same scale: what TDG owns equals what it owes plus shareholders’ equity. Hover a block for its value.

TDG financial health

Current ratio3.21

Comfortable · current assets cover current liabilities 3.21×

Equity / assets−42.3%

Thin equity · of assets funded by shareholders

Cash / debt9.4%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles61.4%

Mostly intangible · of total assets

Descriptive bands, not a rating. Fiscal FY2025.

TDG balance sheet trends, FY2016–FY2025

TransDigm Group Incorporated balance sheet trends
Metric	Then	Latest	Change
Total assets	$10.73BFY2016	$22.91BFY2025	+8.8%/yr
Total liabilities	$11.38BFY2016	$32.59BFY2025	+12.4%/yr
Shareholders’ equity	−$651.5MFY2016	−$9.69BFY2025	—
Cash & short-term investments	$1.59BFY2016	$2.81BFY2025	+6.5%/yr
Total debt	$10.20BFY2016	$30.03BFY2025	+12.8%/yr
Net cash (debt)	−$8.61BFY2016	−$27.22BFY2025	−$18.6B
Working capital	$2.18BFY2016	$4.83BFY2025	+$2.7B
Book value per share	−$11.60FY2016	−$166.43FY2025	—
Current ratio	3.89FY2016	3.21FY2025	−0.68
Shares outstanding	56.2MFY2016	58.2MFY2025	+0.4%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

TDG assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

TDG liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

TDG debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

TDG balance sheet

TransDigm Group Incorporated annual balance sheet
	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Assets
Cash & short-term investments	$2.81B	$6.26B	$3.58B	$3.00B	$4.79B	$4.72B	$1.47B	$2.07B	$650.6M	$1.59B
Cash & equivalents	$2.81B	$6.26B	$3.47B	$3.00B	$4.79B	$4.72B	$1.47B	$2.07B	$650.6M	$1.59B
Short-term investments	—	—	$103.0M	$77.0M	$8.0M	—	—	$11.6M	$0	$0
Receivables	$1.62B	$1.38B	$1.42B	$967.0M	$791.0M	$720.0M	$1.07B	$704.3M	$636.1M	$576.3M
Inventory	$2.10B	$1.88B	$1.62B	$1.33B	$1.19B	$1.28B	$1.23B	$805.3M	$730.7M	$724.0M
Other current assets	$492.0M	$511.0M	$126.0M	$349.0M	$267.0M	$240.0M	$1.10B	$74.7M	$116.2M	$43.4M
Total current assets	$7.01B	$10.03B	$6.74B	$5.65B	$7.03B	$6.96B	$4.87B	$3.66B	$2.13B	$2.93B
Property, plant & equipment (net)	$1.58B	$1.49B	$1.32B	$807.0M	$770.0M	$752.0M	$757.0M	$388.3M	$324.9M	$310.6M
Goodwill & intangible assets	$14.07B	$13.87B	$11.73B	$11.39B	$11.36B	$10.50B	$10.56B	$8.01B	$7.46B	$7.44B
Long-term investments	$0	$0	$0	$0	$0	$0	$1.2M	$97.3M	$15.8M	$4.2M
Other non-current assets	$252.0M	$204.0M	$178.0M	$260.0M	$156.0M	$184.0M	$67.3M	$42.9M	$38.2M	$37.0M
Total assets	$22.91B	$25.59B	$19.97B	$18.11B	$19.32B	$18.39B	$16.25B	$12.20B	$9.98B	$10.73B
Liabilities
Accounts payable	$368.0M	$323.0M	$305.0M	$279.0M	$227.0M	$218.0M	$276.0M	$173.6M	$148.8M	$156.1M
Short-term debt	$863.0M	$603.0M	$420.0M	$444.0M	$646.0M	$647.0M	$430.0M	$375.3M	$369.0M	$252.4M
Deferred revenue	$143.0M	$168.0M	$79.0M	$45.0M	$25.0M	$18.0M	−$429.6M	−$375.3M	−$369.0M	−$252.4M
Total current liabilities	$2.18B	$6.34B	$1.58B	$1.43B	$1.66B	$1.62B	$1.54B	$900.4M	$871.0M	$752.6M
Long-term debt	$29.17B	$24.30B	$19.33B	$19.37B	$19.37B	$19.38B	$16.47B	$12.50B	$11.39B	$9.94B
Lease obligations	$15.0M	$19.0M	$16.0M	$18.0M	$20.0M	$22.0M	—	—	—	—
Other long-term liabilities	$1.24B	$1.23B	$0	$1.08B	$1.19B	$1.36B	$1.13B	$603.6M	$662.3M	$682.0M
Total liabilities	$32.59B	$31.87B	$21.95B	$21.87B	$22.23B	$22.36B	$19.14B	$14.01B	$12.93B	$11.38B
Shareholders' equity
Common stock & paid-in capital	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$576,000	$569,000	$561,000	$558,000
Retained earnings (deficit)	−$10.61B	−$7.36B	−$2.62B	−$3.91B	−$3.71B	−$4.36B	−$3.12B	−$2.25B	−$3.19B	−$1.15B
Treasury stock	—	—	—	−$1.71B	−$794.0M	−$794.0M	−$775.3M	−$775.3M	−$774.7M	−$384.3M
Accumulated other comprehensive income	−$10.0M	−$42.0M	−$98.0M	−$267.0M	−$248.0M	−$401.0M	−$379.0M	$4.1M	−$85.1M	−$149.8M
Minority interest	$7.0M	$7.0M	$6.0M	$7.0M	$6.0M	$4.0M	—	$0	$0	$0
Total shareholders' equity	−$9.69B	−$6.29B	−$1.98B	−$3.77B	−$2.92B	−$3.97B	−$2.89B	−$1.81B	−$2.95B	−$651.5M
Key figures
Total debt	$30.03B	$24.90B	$19.75B	$19.81B	$20.02B	$20.03B	$16.90B	$12.88B	$11.76B	$10.20B
Net cash (debt)	−$27.22B	−$18.64B	−$16.18B	−$16.81B	−$15.23B	−$15.31B	−$15.43B	−$10.80B	−$11.11B	−$8.61B
Working capital	$4.83B	$3.69B	$5.16B	$4.22B	$5.37B	$5.34B	$3.33B	$2.76B	$1.26B	$2.18B
Tangible book value	−$23.75B	−$20.16B	−$13.71B	−$15.16B	−$14.28B	−$14.47B	−$13.46B	−$9.82B	−$10.41B	−$8.10B
Book value per share	−$166.43	−$108.82	−$34.58	−$64.83	−$49.93	−$69.32	−$51.45	−$32.53	−$53.15	−$11.60
Shares outstanding	58.2M	57.8M	57.2M	58.2M	58.4M	57.3M	56.3M	55.6M	55.5M	56.2M
Current ratio	3.21	1.58	4.27	3.96	4.23	4.31	3.16	4.06	2.45	3.89
Quick ratio	2.03	1.21	3.16	2.78	3.35	3.36	1.65	3.08	1.48	2.87
Equity / assets	−42.3%	−24.6%	−9.9%	−20.8%	−15.1%	−21.6%	−17.8%	−14.8%	−29.6%	−6.1%

TransDigm Group Incorporated quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$2.77B	$3.88B	$2.53B	$2.81B	$2.79B	$2.43B	$2.46B	$6.26B	$3.36B	$4.29B	$4.13B	$3.58B
Cash & equivalents	$2.77B	$3.88B	$2.53B	$2.81B	$2.79B	$2.43B	$2.46B	$6.26B	$3.36B	$4.29B	$4.13B	$3.47B
Short-term investments	—	—	—	—	—	—	—	—	$61.0M	$76.0M	$75.0M	$103.0M
Receivables	$2.16B	$1.72B	$1.56B	$1.62B	$1.52B	$1.44B	$1.28B	$1.38B	$1.30B	$1.20B	$1.15B	$1.42B
Inventory	$2.59B	$2.40B	$2.37B	$2.10B	$2.08B	$2.01B	$1.93B	$1.88B	$1.88B	$1.75B	$1.71B	$1.62B
Other current assets	$253.0M	$575.0M	$506.0M	$492.0M	$522.0M	$530.0M	$482.0M	$511.0M	$523.0M	$1.04B	$408.0M	$126.0M
Total current assets	$7.77B	$8.58B	$6.97B	$7.01B	$6.92B	$6.41B	$6.16B	$10.03B	$7.06B	$8.28B	$7.40B	$6.74B
Property, plant & equipment (net)	$1.74B	$1.68B	$1.65B	$1.58B	$1.54B	$1.52B	$1.48B	$1.49B	$1.43B	$1.29B	$1.33B	$1.32B
Goodwill & intangible assets	$16.89B	$14.88B	$14.86B	$14.07B	$14.01B	$13.78B	$13.66B	$13.87B	$13.13B	$11.76B	$11.77B	$11.73B
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$353.0M	$303.0M	$275.0M	$252.0M	$235.0M	$201.0M	$218.0M	$204.0M	$202.0M	$247.0M	$185.0M	$178.0M
Total assets	$26.75B	$25.44B	$23.76B	$22.91B	$22.70B	$21.91B	$21.52B	$25.59B	$21.83B	$21.58B	$20.68B	$19.97B
Liabilities
Accounts payable	$434.0M	$425.0M	$385.0M	$368.0M	$328.0M	$319.0M	$315.0M	$323.0M	$320.0M	$302.0M	$288.0M	$305.0M
Short-term debt	$864.0M	$853.0M	$849.0M	$863.0M	$744.0M	$743.0M	$747.0M	$603.0M	$528.0M	$1.07B	$530.0M	$420.0M
Deferred revenue	$155.0M	—	$164.0M	$143.0M	$154.0M	—	—	$168.0M	$153.0M	$114.0M	$92.0M	$79.0M
Total current liabilities	$2.57B	$2.44B	$2.54B	$2.18B	$2.21B	$2.07B	$2.28B	$6.34B	$1.85B	$2.23B	$1.82B	$1.58B
Long-term debt	$32.62B	$31.15B	$29.20B	$29.17B	$24.27B	$24.31B	$24.30B	$24.30B	$21.36B	$21.33B	$21.35B	$19.33B
Lease obligations	—	—	—	$15.0M	—	—	—	$19.0M	—	—	—	$16.0M
Other long-term liabilities	$1.28B	$1.25B	$1.29B	$1.24B	$1.22B	$1.19B	$1.18B	$1.23B	$1.12B	$1.03B	$1.03B	$0
Total liabilities	$36.47B	$34.84B	$33.02B	$32.59B	$27.70B	$27.57B	$27.77B	$31.87B	$24.34B	$24.60B	$24.19B	$21.95B
Shareholders' equity
Common stock & paid-in capital	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M
Retained earnings (deficit)	−$9.11B	−$9.64B	−$10.17B	−$10.61B	−$5.92B	−$6.41B	−$6.88B	−$7.36B	−$3.42B	−$3.87B	−$4.27B	−$2.62B
Accumulated other comprehensive income	−$54.0M	−$20.0M	$22.0M	−$10.0M	$48.0M	−$171.0M	−$247.0M	−$42.0M	−$146.0M	−$118.0M	−$60.0M	−$98.0M
Minority interest	$90.0M	$8.0M	$7.0M	$7.0M	$8.0M	—	—	—	—	—	—	—
Total shareholders' equity	−$9.81B	−$9.40B	−$9.27B	−$9.69B	−$5.00B	−$5.67B	−$6.26B	−$6.29B	−$2.52B	−$3.03B	−$3.51B	−$1.98B
Key figures
Total debt	$33.48B	$32.00B	$29.92B	$30.03B	$25.01B	$25.05B	$25.05B	$24.90B	$21.89B	$22.41B	$21.88B	$19.75B
Net cash (debt)	−$30.71B	−$28.12B	−$27.39B	−$27.22B	−$22.22B	−$22.62B	−$22.59B	−$18.64B	−$18.53B	−$18.12B	−$17.74B	−$16.18B
Working capital	$5.20B	$6.14B	$4.44B	$4.83B	$4.70B	$4.33B	$3.87B	$3.69B	$5.21B	$6.05B	$5.58B	$5.16B
Tangible book value	−$26.70B	−$24.28B	−$24.13B	−$23.75B	−$19.01B	−$19.45B	−$19.92B	−$20.16B	−$15.65B	−$14.79B	−$15.28B	−$13.72B
Book value per share	−$170.89	−$161.55	−$159.28	−$166.71	−$86.13	−$97.61	−$107.34	−$108.45	−$43.49	−$52.40	−$60.88	−$34.62
Shares outstanding	57.4M	58.2M	58.2M	58.1M	58.1M	58.1M	58.3M	58.0M	57.9M	57.8M	57.7M	57.3M
Current ratio	3.02	3.52	2.75	3.21	3.13	3.09	2.70	1.58	3.81	3.71	4.07	4.27
Quick ratio	1.92	2.30	1.61	2.03	1.95	1.86	1.64	1.21	2.52	2.46	2.90	3.16
Equity / assets	−36.7%	−37.0%	−39.0%	−42.3%	−22.0%	−25.9%	−29.1%	−24.6%	−11.5%	−14.0%	−17.0%	−9.9%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed November 12, 2025); data from EODHD.

TDG financial position

At the end of fiscal 2025 (September 30, 2025), TransDigm had total assets of $22.9 billion (down 10.5% from a year earlier), total liabilities of $32.6 billion and shareholders' equity of -$9.7 billion. It held $2.8 billion in cash and short-term investments against $30.0 billion of debt, net debt of $27.2 billion. Its current ratio was 3.21. In the latest quarter (ended June 30, 2026) total assets were $26.8 billion and equity -$9.8 billion.

Related: TDG income statement, TDG cash flow statement, TDG key metrics. See the TDG stock overview for the latest quote and news.

TDG balance sheet FAQ

What are TransDigm's total assets?

TransDigm reported total assets of $22.9 billion at the end of fiscal 2025 (September 30, 2025), compared with $25.6 billion a year earlier.

How much debt does TransDigm have?

TransDigm had $30.0 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.

How much cash does TransDigm have?

TransDigm held $2.8 billion in cash and short-term investments at the end of fiscal 2025; with $30.0 billion of debt that is net debt of $27.2 billion.

What is TransDigm's book value?

TransDigm's shareholders' equity (book value) was -$9.7 billion at the end of fiscal 2025, or −$166.43 per share.

What is TransDigm's current ratio?

TransDigm had current assets of $7.0 billion and current liabilities of $2.2 billion, a current ratio of 3.21 (it can cover its short-term obligations).

How much goodwill does TransDigm have?

TransDigm carried $14.1 billion of goodwill and intangible assets, 61.4% of total assets, at the end of fiscal 2025.