| Stage | TDG | % of rev | HEI | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $2.7B | 100.00% | $1.4B | 100.00% | TDG ×1.94 |
| Gross profit | $1.6B | 59.39% | $581M | 41.12% | TDG +18.3pp |
| Operating income | $1.2B | 44.76% | $355M | 25.14% | TDG +19.6pp |
| Pre-tax income | $713M | 26.01% | $321M | 22.69% | TDG +3.3pp |
| Net income | $540M | 19.70% | $254M | 18.01% | TDG +1.7pp |
| Stage | TDG | HEI | Gap · A − B |
|---|---|---|---|
| Revenue | $2.7B100.00% | $1.4B100.00% | TDG ×1.94 |
| Gross profit | 59.39%$1.6B | 41.12%$581M | TDG +18.3pp |
| Operating income | 44.76%$1.2B | 25.14%$355M | TDG +19.6pp |
| Pre-tax income | 26.01%$713M | 22.69%$321M | TDG +3.3pp |
| Net income |
| 19.70%$540M |
| 18.01%$254M |
| TDG +1.7pp |
TDG 10-KNov 7 '24
“Defense sales in fiscal 2024 increased compared to fiscal 2023 at a higher rate than in recent fiscal years due to improving U.S. Government defense spend outlays.”
HEI 10-KDec 22 '25
“In addition to manufacturing electronic and electro-optical equipment and selected aerospace and defense components for OEMs and the U.S. government and repairing jet engine and aircraft components, we re-design sophisticated aircraft replacement parts originally developed by OEMs so that we can offer the replacement parts for sale at substantially lower prices than those manufactured by the OEMs.”