HWM vs TDG: Howmet Aerospace and Transdigm Group compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Howmet Aerospace is the larger company, worth $83.5B, about 1.3 times Transdigm Group.
- Howmet Aerospace grew revenue faster over the last year (+24.1% vs +22.5%).
- Transdigm Group keeps more of each dollar of revenue as operating profit (46.0% vs 27.4%).
- On earnings, Transdigm Group is the cheaper stock (34.8x vs 48.6x).
- Howmet Aerospace's price assumes faster free cash flow growth: about 19% a year, against 12% for Transdigm Group (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HWM | TDG |
|---|---|---|
| Market cap | $83.5B | $62.4B |
| Share price | $225.26 | $1,107.99 |
| Revenue (last fiscal year) | $8.3B | $8.8B |
| Free cash flow (last fiscal year) | $1.4B | $1.8B |
| Revenue growth, last year | +24.1% | +22.5% |
| Revenue growth per year, last 5 fiscal years | +13.5% | +16.5% |
| Operating margin | 27.4% | 46.0% |
| Net margin | 20.5% | 21.3% |
| Return on equity | 32.6% | — |
| P/E (trailing) | 48.6x | 34.8x |
| Price / free cash flow | 58.4x | 34.4x |
| EV / EBITDA | 33.8x | 19.5x |
| FCF growth the price implies | 19.1% | 12.1% |
| Dividend yield | 0.22% | — |
| Debt / equity | 1.31x | — |
| Fundamental grade | C | B |
| Superinvestors holding it | 4 | 9 |
| Insider purchases, last 12 months | 2 | 8 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Howmet Aerospace
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $5.0B | $250M | 15.0% |
| 2022 | $5.7B | $540M | 16.2% |
| 2023 | $6.6B | $682M | 18.1% |
| 2024 | $7.4B | $977M | 22.0% |
| 2025 | $8.3B | $1.4B | 24.8% |
Transdigm Group
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $4.8B | $808M | 35.2% |
| 2022 | $5.4B | $829M | 40.8% |
| 2023 | $6.6B | $1.2B | 44.4% |
| 2024 | $7.9B | $1.9B | 44.5% |
| 2025 | $8.8B | $1.8B | 47.2% |
Where the revenue comes from
Howmet Aerospace · by segments, 2025
Engine Products$4.3B52%
Fastening Systems$1.7B21%
Engineered Structures$1.1B14%
Forged Wheels$1.0B13%
Transdigm Group · by segments, 2025
Power & Control$4.6B52%
Airframe$4.1B47%
Non-aviation$160M2%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HWM in InvestinglyQuestions
Which is bigger, Howmet Aerospace or Transdigm Group?
Howmet Aerospace (HWM), at $83.5B against $62.4B.
Is HWM or TDG cheaper?
By trailing P/E, Transdigm Group (34.8x) is cheaper than Howmet Aerospace (48.6x). A lower multiple can also mean the market expects less growth.
Which grows faster, HWM or TDG?
Howmet Aerospace: revenue grew +24.1% over the last year, against +22.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.