TDG · 10-Q · 2026Q2 · Full report
Liquidity and Cash Position
TransDigm Group INC · 2026-08-04 · Importance 47 · Surprise 22 · From source text
Cash and cash equivalents were $2,773 million at June 27, 2026, compared with $2,808 million at September 30, 2025, while working capital increased to $5,197 million from $4,830 million. Cash liquidity totaled $3,637 million, including cash and availability under the revolving credit facility. Operating cash flow increased 10.5% to $1,691 million for the first nine months, while inventory used $232 million of cash to support fiscal 2026 demand. The trade receivable securitization facility was increased from $725 million to $1,000 million and extended to July 9, 2027; the company subsequently drew $25 million in July 2026.
Key facts
- On July 10, 2026, the Company amended the Securitization Facility to increase borrowing capacity from $725 million to $1,000 million and extend the maturity date to July 9, 2027 source
- Net proceeds from April 17, 2026 debt issuances were intended to be used to fund proposed Stellant acquisition, common stock repurchases and general corporate purposes; April debt issuances remain outstanding despite withdrawal from Stellant. source
- Net proceeds from February 13, 2026 debt issuances and cash on hand were used to fund JPE and VSA purchase price and related fees. source
- Other non-current assets: $5,534 million as of June 27, 2026 and $4,003 million as of September 30, 2025 source
- Net cash provided by financing activities for thirty-nine week period ended June 27, 2026: $1,652 million, driven by net proceeds from February and April 2026 debt issuances aggregating to $3,467 million and proceeds from stock option exercises of $116 million; partially offset by common stock repurchases of $1,807 million, repayments on term loans plus other financing costs aggregating to $65 million, and dividend equivalent payments of $59 million. source
- On July 10, 2026 the Company amended its Securitization Facility to increase borrowing capacity from $725 million to $1,000 million and extend maturity to July 9, 2027; Company subsequently drew $25 million under facility in July 2026. source
- The Securitization Facility has borrowing capacity of $725 million and was fully drawn as of June 27, 2026, with an applicable interest rate of 5.03% source
- As of June 27, 2026 cash liquidity: cash and cash equivalents $2,773 million plus availability on revolving credit facility equals cash liquidity of $3,637 million. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | realized | +14.4% | Total assets as of June 27, 2026: $26,754 million (compared to $22,909 million at September 30, 2025). |
| cash | positive | realized | +6.2% | Net cash provided by financing activities for thirty-nine week period ended June 27, 2026: $1,652 million, driven by net proceeds from… |
| assets | positive | realized | +5.7% | Other non-current assets: $5,534 million as of June 27, 2026 and $4,003 million as of September 30, 2025 |
| assets | positive | realized | +1.6% | Current assets: $4,916 million as of June 27, 2026 and $4,494 million as of September 30, 2025 |
| assets | positive | realized | +1.4% | Working capital as of June 27, 2026: $5,197 million (compared to $4,830 million at September 30, 2025). |
| assets | negative | realized | -1.0% | Amounts due (from) to subsidiaries that are non-issuers and non-guarantors - net: ($2,584) million as of June 27, 2026 and ($2,316)… |
| assets | negative | realized | -0.5% | TD Group stockholders' deficit as of June 27, 2026: $(9,809) million (compared to $(9,686) million at September 30, 2025). |
| cash | negative | realized | -0.1% | Cash and cash equivalents as of June 27, 2026: $2,773 million (compared to $2,808 million as of September 30, 2025). |
| cash | positive | realized | +0.1% | On July 10, 2026 the Company amended its Securitization Facility to increase borrowing capacity from $725 million to $1,000 million and… |
| liability | negative | realized | -0.1% | On July 10, 2026 the Company amended its Securitization Facility to increase borrowing capacity from $725 million to $1,000 million and… |