Risk Sleuth
TDG · 10-K filed 12 Nov 2025 · year to 30 Sep 2025

TransDigm Group

24 named things its latest annual report says its results depend on, each in the company's own words. 19 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

U.S. Government

earns from · approximately 35% to 40% of our annual net salesnamed as a risk
the defense market (which includes defense OEMs and aftermarket sales to the U.S. and friendly foreign governments), which generally account for approximately 35% to 40% of our annual net sales.Business (Item 1)

Also named by ADI, AIR, APH, ASTS, ATI, AVAV, AWK, BA and 46 more

Top ten customers

concentrated in · approximately 40% of our net salesnamed as a risk
In fiscal year 2025, no customer individually accounted for 10% or more of the Company’s net sales; however, our top ten customers for fiscal year 2025 accounted for approximately 40% of our net sales.Risk factors (Item 1A)

Also named by BGC, CBOE, CVLG, ENTG, FBIN, HUBB, LPX, MEDP and 9 more

Foreign customers

earns from · $3,296 millionnamed as a risk
Our net sales to foreign customers were $3,296 million for the fiscal year ended September 30, 2025.Risk factors (Item 1A)

Also named by AIR, DJCO, HEI

Commercial aerospace aftermarket

earns from · 30% to 35% of our annual net sales
We predominantly serve customers in the commercial, regional, business jet and general aviation aftermarket, which generally account for 30% to 35% of our annual net sales; the commercial aerospace OEM market, comprising large commercial transport manufacturers and regional and business jet manufacturers, which generally account for 25% to 30% of our annual net sales; and the defense market (which includes defense OEMs and aftermarket sales to the U.S. and friendly foreign governments), which generally account for approximately 35% to 40% of our annual net sales.Business (Item 1)

Boeing

earns fromnamed as a risk
Our sales to manufacturers of large commercial aircraft, such as Boeing, Airbus, and related OEM suppliers, as well as manufacturers of business jets have historically experienced periodic downturns.Risk factors (Item 1A)

Also named by AIR, ALK, BRK/B, CW, GNTX, RBC, RTX, TDY

Airbus

earns fromnamed as a risk
Our sales to manufacturers of large commercial aircraft, such as Boeing, Airbus, and related OEM suppliers, as well as manufacturers of business jets have historically experienced periodic downturns.Risk factors (Item 1A)

Also named by BA, BRK/B, CW, GNTX, RBC, RTX, TDY

Other companies

Labor unions

Approximately 15%named as a risk
Approximately 15% of our full-time and part-time employees are represented by labor unions.Business (Item 1)

Also named by ECG, EME, HCA, JLL, LUV, MAR, NSC, NYT and 2 more

Revenue passenger kilometers (RPKs)

earns fromnamed as a risk
Our commercial business is directly affected by, among other factors, changes in revenue passenger kilometers (“RPKs”), the size and age of the worldwide aircraft fleet, the percentage of the fleet that is out-of-warranty and changes in the profitability of the commercial airline industry.Risk factors (Item 1A)

Places

Russia

named as a risk
We continue to monitor the ongoing geopolitical conflicts, such as Russia and Ukraine, and the related export controls and financial and economic sanctions imposed on certain industry sectors, including the aviation sector, and parties in Russia by the U.S., the U.K., the European Union and others.Risk factors (Item 1A)

Also named by ALSN, ATR, AVY, AXP, BKR, BSX, C, CDNA and 50 more

Hazards

Atlantic hurricanes

operates innamed as a risk
Some of our manufacturing facilities are located in regions that may be impacted by severe weather events, such as increased storm frequency or severity in the Atlantic and fires in hotter and drier climates.Risk factors (Item 1A)

Commodities and inputs

Term SOFR

exposed to its price · approximately $57 millionnamed as a risk
The effect of a hypothetical one percentage point increase in interest rates would increase the annual interest costs under our Term Loans Facility and Securitization Facility by approximately $57 million based on the amount of outstanding borrowings at September 30, 2025.Market risk (Item 7A)

Also named by BWIN, CLH, DORM, DPZ, DY, ECG, HUBB, IBP and 9 more

Euro

exposed to its pricenamed as a risk
Certain of our foreign subsidiaries’ sales and results of operations are subject to the impact of foreign currency fluctuations, primarily the British pound and the euro.Market risk (Item 7A)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

British pound

exposed to its pricenamed as a risk
Certain of our foreign subsidiaries’ sales and results of operations are subject to the impact of foreign currency fluctuations, primarily the British pound and the euro.Market risk (Item 7A)

Also named by ABBV, ADBE, AJG, AME, AMP, APA, BF/B, BRO and 39 more

Raw materials and component parts

depends onnamed as a risk
Our business is affected by the price and availability of the raw materials and component parts that we use to manufacture our components.Risk factors (Item 1A)

Regulators

Office of Foreign Assets Control (OFAC)

subject tonamed as a risk
U.S. laws and regulations applicable to us include the Arms Export Control Act, the International Traffic in Arms Regulations (“ITAR”), the Export Administration Regulations (“EAR”) and the trade sanctions laws and regulations administered by the United States Department of the Treasury's Office of Foreign Assets Control (“OFAC”).Risk factors (Item 1A)

Also named by ABNB, ADP, AIG, APP, BMI, BMNR, BPOP, CAT and 46 more

Federal Aviation Administration (FAA)

subject tonamed as a risk
In order to sell our products, we and the products we manufacture must be certified by the FAA, the DOD and similar agencies in foreign countries and by individual manufacturers.Risk factors (Item 1A)

Also named by ACHR, AIR, ALK, AMT, AVAV, BA, BRK/B, CCI and 27 more

U.S. Department of Defense (DOD)

subject tonamed as a risk
Our subsidiaries are periodically subject to pricing reviews and government buying agencies that purchase some of our subsidiaries’ products are periodically subject to audits by the U.S. Department of Defense (“DOD”) with respect to prices paid for such products.Risk factors (Item 1A)

Also named by ACN, ALSN, AVAV, CLS, CRWD, FLR, HEI, JCI and 12 more

European Union Aviation Safety Agency (EASA)

subject to
The commercial aircraft component industry is highly regulated by the Federal Aviation Administration (“FAA”) in the United States and by the European Union Aviation Safety Agency in Europe and other agencies throughout the world, while the military aircraft component industry is governed by military quality specifications.Business (Item 1)

Also named by BA, TXT, WLFC

Laws and programs

OECD Pillar Two global minimum tax

subject to · 15%named as a risk
As of September 30, 2025, many jurisdictions where the Company operates, including Canada, U.K. and Germany, have adopted the Pillar Two Rules.Risk factors (Item 1A)

Also named by ABNB, ACN, ADI, ADM, ADSK, AKAM, ALB, AMAT and 70 more

Export Administration Regulations (EAR)

subject tonamed as a risk
EAR restricts the export of commercial and dual-use products and technical data to certain countries, while ITAR restricts the export of defense products, technical data and defense services.Risk factors (Item 1A)

Also named by ADI, ALAB, AMD, APP, ARW, AVGO, CARR, CDRE and 40 more

International Traffic in Arms Regulations (ITAR)

subject tonamed as a risk
U.S. laws and regulations applicable to us include the Arms Export Control Act, the International Traffic in Arms Regulations (“ITAR”), the Export Administration Regulations (“EAR”) and the trade sanctions laws and regulations administered by the United States Department of the Treasury's Office of Foreign Assets Control (“OFAC”).Risk factors (Item 1A)

Also named by ACHR, ADI, AIR, ALSN, APH, AVAV, CDRE, CLS and 29 more

U.S. defense budget

earns fromnamed as a risk
A significant decline in U.S. military expenditures could result in a reduction in the amount of our products sold to the various agencies and buying organizations of the U.S. Government.Risk factors (Item 1A)

Also named by ADI

Federal superfund laws (CERCLA)

subject tonamed as a risk
Certain facilities and third-party sites utilized by subsidiaries of the Company have been identified as potentially responsible parties under the federal superfund laws and comparable state laws.Risk factors (Item 1A)

NIST SP 800-171

subject to
The multi-layered framework on which our cybersecurity and information security program is built incorporates cybersecurity standards and certain requirements of the National Institute of Standards and Technology (“NIST”) Special Publication 800-171—Protecting Controlled Unclassified Information in Non-Federal Systems and Organizations—along with other legal and regulatory requirements.Cybersecurity (Item 1C)

Also named by LUMN, WWD