u/sunburn74

The author argues TDG has one of the widest economic moats in industrials due to FAA certification barriers, high switching costs on cheap-but-critical parts, and an installed base on almost every commercial and military aircraft, which locks in high-margin replacement revenue for decades. He cites 10-20% annual growth, ~50% operating margins, a 6.39% dividend plus special dividends, and a PE around 40 as attractive relative to growth and margins. Catalysts include inflation, rising geopolitical tensions and defense spending, post-Covid air travel recovery, and more plane construction and servicing. Main stated risks are high debt at 5x annual earnings and an arguably unethical monopoly/price-gouging and competitor buyout model.