SG&A·Benchmarking Benchmark TDG SG&A Headcount

TSR driver bridge · · built from SEC filings

That is the trend. The next exhibit is the level.

Normalized SG&A · % of revenue · 15 US-GAAP Aerospace & Defense peers

What "normalized" means. Reported SG&A less the disclosed advertising and R&D lines (SEC XBRL). Restructuring and stock-based compensation are benchmarked in Exhibit 3 but not stripped. What remains is the residual overhead line, on the same footing for all 15 peers. Every adjustment traceable to the 10-K. Each bar is one peer.

Advertising, R&D, stock comp, restructuring · total filed spend, any P&L line

What the gap is worth · vs FY2027 analyst estimates

On the record · verbatim from the earnings calls

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TransDigm Group Incorporated SG&A versus peers

TransDigm Group Incorporated (TDG) runs normalized SG&A at 9.4% of revenue, against a median of 9.3% across 14 Aerospace & Defense peers, and 7 of the 14 run heavier.

Figures as filed through , published by SG&A Benchmarking. This is the briefing above in text.

TransDigm Group Incorporated reports revenue of $8,831 million. Reported SG&A less the disclosed lines that distort comparison: advertising, R&D, pension, stock-based compensation, restructuring and one-time items, plus logistics reclassed where filers park it in SG&A.

Disclosed lines held outside the normalized figure: R&D 1.3% of revenue (13 of 15 companies disclose it); Stock-based comp 1.7% of revenue (13 of 15 companies disclose it).

Over 5 years (FY2020 to FY2025), TransDigm Group Incorporated's total shareholder return was +234% against +243% for the peer composite; SG&A contributed -28.9 points of that return.

Built from SEC filings. Machine-readable copy: https://sgabenchmarking.com/r/TDG.json. Function-level headcount benchmarks by industry: https://sgabenchmarking.com/catalog.json.