TransDigm Group (TDG), Cisco Systems (CSCO), and Nu Holdings (NU), the parent company of Nubank, each reported earnings between November 10 and November 12, 2026. The 3 companies operate in different industries. This post covers what each business does, the factors that protect its competitive position, and the figures from its latest earnings release.

TransDigm Group (TDG)

What TransDigm does

TransDigm manufactures highly engineered aerospace components used in commercial and military aircraft. Its products include specialized valves, pumps, actuators, sensors, and other components that are essential to aircraft operation.

Competitive position

Approximately 90% of TransDigm's revenue comes from proprietary products. Strict aviation certification requirements, high switching costs, and limited competition protect the business. Once a component is designed into an aircraft, TransDigm can generate replacement-part sales for decades. Roughly 55% of its fiscal 2026 revenue came from the aftermarket.

Latest earnings: Q4 fiscal 2026, reported November 10, 2026

TransDigm reported revenue of $2.99 billion, up 23% year over year, with organic revenue growth of 14%. Adjusted earnings per share were $12.44, up 15%. EBITDA As Defined was $1.58 billion, up 20%. The EBITDA margin was 53.0%, down from 54.2% a year earlier.

Acquisitions weighed on margins during the quarter. Higher interest and tax expenses contributed to a 4% decline in GAAP net income, even though sales rose. For fiscal 2027, TransDigm guided to revenue of $11.95 billion to $12.15 billion, which represents approximately 14% growth at the midpoint.

Cisco Systems (CSCO)

What Cisco does

Cisco is a global technology company that provides networking equipment, cybersecurity solutions, and IT infrastructure. Its routers, switches, and software help businesses connect and secure their networks, and its technology also supports data centers and AI infrastructure.

Competitive position

Cisco has a large installed base and established relationships with enterprise customers. Companies often standardize their networks around Cisco products, which makes replacements expensive and complicated and creates high switching costs. Competition from companies such as Arista Networks and other networking providers limits Cisco's pricing power.

Latest earnings: Q1 fiscal 2027, reported November 12, 2026

Cisco reported revenue of $18.5 billion, up 24% year over year. GAAP earnings per share were $1.14, up 58%, and adjusted earnings per share were $1.40, up 40%. Networking revenue rose 43%. The non-GAAP operating margin was 37.8%, a record for the company. Cisco's revenue growth and adjusted EPS growth were the strongest it has reported in more than 15 years.

Cisco raised its fiscal 2027 revenue outlook to a range of $74.8 billion to $75.8 billion. The company now expects $9 billion in AI infrastructure revenue from hyperscalers in fiscal 2027, which is more than double the amount in fiscal 2026.

Nu Holdings (NU): Nubank

What Nubank does

Nubank is a digital banking platform operating primarily in Brazil, Mexico, and Colombia. It offers credit cards, personal loans, savings accounts, payments, and other financial services through its mobile app, without relying on a traditional branch network.

Competitive position

Nubank has a large customer base, strong brand recognition, low operating costs, and rising customer engagement. Its digital-first model allows it to serve customers more efficiently than many traditional banks. Its competitive position is less established than those of mature financial institutions, and competition and credit risk remain significant.

Latest earnings: Q3 2026, reported November 12, 2026

Nubank reported managerial gross revenue of $6.26 billion, up 37% year over year on a currency-neutral basis. Net income was $1.09 billion, up 31% on a currency-neutral basis. The company served 143 million customers, up approximately 12%. Its credit portfolio reached $41.6 billion, up 33% on a currency-neutral basis.

Return on equity was 32%. The efficiency ratio was 19.3%, an improvement from 20.3% a year earlier. On credit quality, loans more than 90 days delinquent rose to 7.3% of the portfolio, compared with 6.9% in the prior quarter.

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