01—Abstract
Summary
Summary of the 10-K/A filed November 18, 2016. Cited figures are marked; the original filing is the authoritative source.
TransDigm Group Incorporated (TDG) filed an amendment (10-K/A) to its 2016 Annual Report on November 17, 2016.
This amendment's primary purpose was to include an inadvertently omitted Exhibit 23.1, the Consent of Independent Registered Public Accounting Firm from Ernst & Young LLP. It's important for investors to note that this amendment does not alter the financial statements or other disclosures made in the original Form 10-K filed on November 15, 2016. The company confirmed its status as a well-known seasoned issuer and a large accelerated filer, indicating its established presence and regulatory compliance.
The aggregate market value of its non-affiliate stock as of March 31, 2016, was substantial at over $10.8 billiona, with approximately 53.3 million shares outstanding as of early November 2016. Investors should refer to the original Form 10-K filing for detailed financial performance and strategic information.
02—Key points
Key Highlights
- This filing is an amendment (10-K/A) primarily to include Exhibit 23.1, the Consent of Independent Registered Public Accounting Firm.
- No changes were made to the consolidated financial statements or other disclosures in the original Form 10-K filing.
- TransDigm is classified as a well-known seasoned issuer and a large accelerated filer.
- The aggregate market value of non-affiliate shares was over $10.8 billion as of March 31, 2016.
- The company had approximately 53.3 million shares of common stock outstanding as of November 6, 2016.
- This amendment includes currently dated certifications from the CEO and CFO as required by Rule 12b-15.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2016, TransDigm Group kept $0.18.
- Revenue$3.17B100.0%
- Cost of revenue−$1.44B45.5%
- Gross profit$1.73B54.5%
- Operating costs−$460.3M14.5%
- Operating income$1.27B40.0%
- Interest, other & tax−$681.3M21.5%
- Net income$586.4M18.5%
Where FY2016 revenue went
$3.17B- Cost of revenue: $1.44B, 46% of revenue
- Interest, other & tax: $681.3M, 21% of revenue
- Net income: $586.4M, 18% of revenue
- SG&A: $382.9M, 12% of revenue
- R&D: $58.6M, 1.8% of revenue
- Other operating costs: $18.8M, 0.6% of revenue
Kept 18% as net incomeSG&A $382.9M · 12%
Full revenue history →04—Financials
Financial Highlights
Figures from 10-K/AFY2016filed November 18, 2016Financial Statements
FY2016 against FY2015
| Line item | FY2016FY2015 | Change |
|---|---|---|
| Revenue | $3.17B$2.71B | +17.2% |
| Cost of Revenue | $1.44B$1.26B | +14.8% |
| Gross Profit | $1.73B$1.45B | +19.2% |
| R&D Expenses | $58.60M$48.30M | +21.3% |
| SG&A Expenses | $382.86M$321.62M | +19.0% |
| Operating Income | $1.27B$1.07B | +18.0% |
| Net Income | $586.41M$447.21M | +31.1% |
| EPS (Basic) | $10.39$7.84 | +32.5% |
| Shares Outstanding (Basic) | 56.16M56.61M | −0.8% |
05—Questions
Frequently Asked Questions
What is the purpose of this Form 10-K/A filing?
The primary purpose of this Amendment No. 1 to TransDigm's 2016 Form 10-K is to include Exhibit 23.1, the Consent of Independent Registered Public Accounting Firm from Ernst & Young LLP, which was inadvertently omitted from the original filing.
Are there any changes to TransDigm's financial results for fiscal year 2016 in this amendment?
No, the amendment explicitly states that the consolidated financial statements and notes are not being reissued and remain the same as filed in the original Form 10-K. No other disclosures have been modified or updated.
What is TransDigm's status regarding regulatory filings?
TransDigm is confirmed to be a well-known seasoned issuer and a large accelerated filer, indicating a history of timely and compliant SEC filings.
What was the market value of TransDigm's stock around the filing date?
As of March 31, 2016, the aggregate market value of the voting and non-voting common stock held by non-affiliates was approximately $10.87 billion. The number of outstanding shares was about 53.3 million as of November 6, 2016.
06—Continue