A Business at a Glance
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TELEDYNE TECHNOLOGIES INC
TDY
$31.1B
Mkt Cap
$655.35
+0.63%
TELEDYNE TECHNOLOGIES INC (TDY) has a current P/E ratio of 34.7, compared to its historical median P/E of 27.4. The stock is currently considered Expensive based on its historical valuation range.
TELEDYNE TECHNOLOGIES INC (TDY) has a 5-year average return on invested capital (ROIC) of 8.6%. This is below average and may indicate limited pricing power.
TELEDYNE TECHNOLOGIES INC (TDY) has a market capitalization of $30.4B. It is classified as a large-cap stock.
TELEDYNE TECHNOLOGIES INC (TDY) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.33%.
Based on historical P/E analysis, TELEDYNE TECHNOLOGIES INC (TDY) appears expensive. The current P/E of 34.7 is 27% above its historical median of 27.4. The estimated fair value CAGR (P/E method) is 13.5%.
TELEDYNE TECHNOLOGIES INC (TDY) operates in the Search, Detection, Navigation, Guidance, Aeronautical Sys industry, within the Technology sector.
Teledyne Technologies is a diversified industrial technology company providing enabling technologies to sense, analyze, and distribute information across four business segments: Digital Imaging, Instrumentation, Aerospace and Defense Electronics, and Engineered Systems. The Digital Imaging segment (52% of 2025 sales) manufactures high-performance sensors, cameras, and systems across visible, infrared, ultraviolet, and X-ray spectra for industrial, scientific, defense, medical, and space applications, along with MEMS semiconductors and unmanned aerial and ground systems. The Instrumentation segment (24% of sales) supplies marine monitoring and control instruments, environmental monitoring systems, test and measurement equipment, and interconnect solutions for harsh underwater environments and distributed sensor networks. Aerospace and Defense Electronics (17% of sales) provides avionics systems, data connectivity solutions, electronic components, and subsystems for commercial and military aircraft, radar, and satellite communications. Engineered Systems (7% of sales) delivers systems engineering, integration, and advanced manufacturing for defense, space, environmental, and energy applications. The company operates a diversified customer base with no single commercial customer exceeding 10% of sales; U.S. Government sales represented 25.5% of total net sales in 2025, with the Department of War as the principal customer. Teledyne serves over 100 foreign countries, with approximately 20% of total net sales derived from the top five international markets (UK, Germany, Japan, China, and France), and maintains a capital-intensive business model with significant investment in research and development and manufacturing capacity to support demand across defense, aerospace, industrial, environmental, and scientific end-markets.
【Strong defense momentum continuing】 Management expects 2026 to benefit from robust defense orders across all portfolio segments, with particular strength in low-cost drone and counter-drone technologies, space-based sensing, electronic countermeasures, and maritime surveillance applications driven by geopolitical tensions and increased defense spending in Europe and allied nations. Short-cycle commercial businesses including industrial inspection and healthcare are inflecting positively after recent headwinds, with test and measurement expected to grow in the low single digits as semiconductor suppliers increase shipments and data centers adopt newer data transfer protocols. The company is investing approximately 35% more in capital expenditure to expand capacity in areas where demand exceeds current production capability, and expects to maintain normal seasonality with approximately 48% of sales in the first half of 2026. Management anticipates continued margin expansion, particularly in Digital Imaging where margins are expected to improve approximately 80 basis points to reach 23.4%, supported by favorable product mix and cost efficiencies from recent acquisitions.
| Metric | Target | Period |
|---|---|---|
| Revenue | $6.415 billion | FY2026 |
| Non-GAAP Earnings Per Share | $23.85-$24.15 | FY2026 |
| GAAP Earnings Per Share | $20.08-$20.44 | FY2026 |
Revenue (FY2026): “We believe now sales will be in the range of $6.415 billion or 70 basis points higher than we communicated in January.”
Non-GAAP Earnings Per Share (FY2026): “For the full year 2026, we believe that GAAP earnings per share will be in the range of $20.08-$20.44, and non-GAAP earnings per share in the range of $23.85-$24.15.”
GAAP Earnings Per Share (FY2026): “For the full year 2026, we believe that GAAP earnings per share will be in the range of $20.08-$20.44, and non-GAAP earnings per share in the range of $23.85-$24.15.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 6.2B | 6.1B | 5.7B | 5.6B | 4.6B | 3.1B |
| Net Income | 933M | 895M | 819M | 886M | 445M | 402M |
| EPS | $20.04 | $18.88 | $17.21 | $18.49 | $10.05 | $10.62 |
| Free Cash Flow | 1.1B | 1.1B | 1.1B | 721M | 723M | 548M |
| ROIC | 7.7% | 7.7% | 7.4% | 8.2% | 7.2% | 12.3% |
| Gross Margin | - | 42.8% | 42.9% | 43.3% | 39.9% | 38.3% |
| Debt/Equity | 0.23 | 0.25 | 0.29 | 0.37 | 0.54 | 0.24 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 1.2B | 1.1B | 989M | 1.0B | 624M | 480M |
| Operating Margin | 19.0% | 18.8% | 17.4% | 18.4% | 13.5% | 15.6% |
| ROE | 8.7% | 8.9% | 8.7% | 10.5% | 8.2% | 12.4% |
| Shares Outstanding | 46M | 47M | 48M | 48M | 44M | 38M |
| Metric | 2015 | 2020 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 2.4B | 1.0B | 2.3B | 2.1B | 2.9B | 3.2B | 3.1B | 3.1B | 4.6B | 5.6B | 5.7B | 6.1B | 6.2B |
| Gross Margin | 37.9% | N/A | 37.9% | 38.2% | 38.3% | 39.3% | 38.3% | 38.3% | 39.9% | 43.3% | 42.9% | 42.8% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 356M | 293M | 317M | 328M |
| SG&A | 612M | 589M | 589M | 580M | 694M | 715M | 701M | 662M | 1.1B | 852M | 903M | 931M | 935M |
| EBIT | 295M | 282M | 282M | 241M | 417M | 492M | 480M | 480M | 624M | 1.0B | 989M | 1.1B | 1.2B |
| Op. Margin | 12.3% | 27.6% | 12.3% | 11.2% | 14.4% | 15.5% | 15.6% | 15.6% | 13.5% | 18.4% | 17.4% | 18.8% | 19.0% |
| Net Income | 218M | 196M | 196M | 191M | 334M | 402M | 402M | 402M | 445M | 886M | 819M | 895M | 933M |
| Net Margin | 9.1% | 19.2% | 8.5% | 8.9% | 11.5% | 12.7% | 13.0% | 13.0% | 9.7% | 15.7% | 14.4% | 14.6% | 15.0% |
| Non-Recurring | 0 | 24M | 0 | 18M | 7.8M | 3.2M | 21M | 26M | 26M | 12M | 68M | 19M | 19M |
| Returns on Capital | |||||||||||||
| ROIC | 7.6% | 9.0% | 9.8% | 7.1% | 10.9% | 13.2% | 12.3% | 12.3% | 7.2% | 8.2% | 7.4% | 7.7% | 7.7% |
| ROE | 15.0% | 14.1% | 14.6% | 11.6% | 16.0% | 16.3% | 13.5% | 12.4% | 8.2% | 10.5% | 8.7% | 8.9% | 8.7% |
| ROA | 7.8% | 7.0% | 7.2% | 5.8% | 8.7% | 9.6% | 8.3% | 7.9% | 4.6% | 6.1% | 5.7% | 6.1% | 6.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 288M | 210M | 210M | 317M | 447M | 482M | 619M | 619M | 825M | 836M | 1.2B | 1.2B | 1.2B |
| Free Cash Flow | 244M | 163M | 163M | 229M | 360M | 394M | 548M | 548M | 723M | 721M | 1.1B | 1.1B | 1.1B |
| Owner Earnings | 175M | 120M | 101M | 196M | 333M | 369M | 503M | 501M | 80M | -140M | 851M | 825M | -31M |
| CapEx | 44M | 47M | 47M | 88M | 87M | 88M | 71M | 71M | 102M | 115M | 84M | 117M | 129M |
| Maint. CapEx | 94M | 90M | 90M | 113M | 113M | 112M | 116M | 116M | 743M | 947M | 310M | 336M | 1.2B |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 94M | 90M | 90M | 113M | 113M | 112M | 116M | 116M | 743M | 947M | 310M | 336M | 1.2B |
| CapEx/OCF | 15.1% | N/A | 22.4% | 27.6% | 19.4% | 18.3% | N/A | 11.5% | 12.3% | 19.0% | 7.0% | 9.8% | 10.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 147M | 244M | 244M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 354M | 403M | 403M |
| Buyback Yield | 3.7% | 0.0% | 5.5% | N/A | N/A | N/A | 0.0% | N/A | N/A | N/A | 1.6% | 1.6% | 1.3% |
| Stock-Based Comp | 18M | N/A | 19M | 8.5M | 1.3M | 1.2M | N/A | 1.2M | 1.3M | 29M | 31M | 30M | 26M |
| Debt Repayment | 30M | 0 | 0 | 0 | 0 | 0 | 0 | 31M | 31M | 185M | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 1.3B | 680M | 680M | 1.1B | 605M | 790M | 105M | 105M | 3.6B | 2.8B | 2.1B | 2.3B | 2.0B |
| Cash & Equiv. | 141M | 85M | 85M | 71M | 143M | 200M | 673M | 673M | 475M | 648M | 650M | 352M | 521M |
| Long-Term Debt | 619M | 756M | 754M | 1.1B | 610M | 750M | 681M | 681M | 4.1B | 2.6B | 2.6B | 2.0B | 2.0B |
| Debt/Equity | 1.02 | 0.57 | 0.57 | 0.60 | 0.34 | 0.36 | 0.24 | 0.24 | 0.54 | 0.37 | 0.29 | 0.25 | 0.23 |
| Interest Coverage | 15.4 | 11.7 | 11.7 | 10.2 | 14.3 | 23.4 | 30.4 | 31.4 | 6.9 | 13.4 | 17.1 | 19.3 | 19.3 |
| Equity | 1.4B | 1.3B | 1.3B | 1.9B | 2.2B | 2.7B | 3.2B | 3.2B | 7.6B | 9.2B | 9.5B | 10.5B | 10.7B |
| Total Assets | 2.9B | 2.7B | 2.7B | 3.8B | 3.8B | 4.6B | 5.1B | 5.1B | 14.4B | 14.5B | 14.2B | 15.3B | 15.5B |
| Total Liabilities | 1.4B | 1.4B | 1.4B | 1.9B | 1.6B | 1.9B | 1.9B | 1.9B | 6.8B | 5.3B | 4.6B | 4.8B | 4.8B |
| Intangibles | 172M | 1.1B | 141M | 242M | 193M | 267M | 2.1B | 410M | 2.7B | 2.3B | 2.0B | 2.1B | 2.0B |
| Retained Earnings | 1.5B | 1.7B | 1.7B | 2.1B | 2.5B | 2.9B | 3.3B | 3.3B | 3.8B | 5.4B | 6.3B | 7.1B | 7.4B |
| Working Capital | 403M | 435M | 433M | 471M | 394M | 551M | 962M | 962M | 931M | 1.2B | 1.7B | 1.2B | 1.4B |
| Current Assets | 942M | 828M | 827M | 1.0B | 1.1B | 1.3B | 1.7B | 1.7B | 2.4B | 3.0B | 2.9B | 3.1B | 3.3B |
| Current Liabilities | 539M | 394M | 394M | 541M | 721M | 763M | 761M | 761M | 1.5B | 1.8B | 1.3B | 1.9B | 1.9B |
| Per Share Data | |||||||||||||
| EPS | 5.75 | 5.44 | 5.44 | 5.37 | 9.01 | 10.73 | 10.62 | 10.62 | 10.05 | 18.49 | 17.21 | 18.88 | 20.04 |
| Owner EPS | 4.63 | 3.33 | 2.80 | 5.50 | 8.98 | 9.84 | 13.28 | 13.25 | 1.80 | -2.91 | 17.88 | 17.41 | -0.66 |
| Book Value | 37.70 | 37.34 | 37.34 | 54.78 | 60.18 | 72.41 | 85.31 | 85.31 | 172.02 | 192.50 | 200.62 | 221.84 | 231.05 |
| Cash Flow/Share | 7.60 | 5.84 | 5.84 | 8.92 | 12.06 | 12.86 | 16.35 | 16.35 | 18.61 | 17.45 | 25.04 | 25.14 | 45.77 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 37.9M | 36.0M | 36.0M | 35.5M | 37.0M | 37.5M | 37.8M | 37.8M | 44.3M | 47.9M | 47.6M | 47.4M | 46.3M |
| Valuation | |||||||||||||
| P/E Ratio | 18.2 | N/A | 22.6 | 33.7 | 22.5 | 32.4 | N/A | 40.9 | 38.9 | 26.9 | 27.4 | 27.4 | 32.7 |
| P/FCF | 16.2 | N/A | 27.1 | 28.1 | 20.9 | 33.1 | N/A | 30.1 | 23.9 | 29.5 | 20.2 | 22.8 | 28.8 |
| EV/EBIT | 17.9 | N/A | 17.9 | 30.7 | 19.5 | 27.6 | N/A | 33.3 | 32.8 | 24.4 | 24.1 | 23.3 | 27.3 |
| Price/Book | 2.8 | N/A | 3.3 | 3.3 | 3.4 | 4.8 | N/A | 5.1 | 2.3 | 2.3 | 2.3 | 2.3 | 2.8 |
| Price/Sales | 3.4 | N/A | 1.6 | 2.4 | 2.7 | 3.3 | N/A | 5.2 | 3.9 | 3.6 | 3.6 | 4.0 | 4.9 |
| FCF Yield | 6.2% | N/A | 3.7% | 3.6% | 4.8% | 3.0% | N/A | 3.3% | 4.2% | 3.4% | 4.9% | 4.4% | 3.5% |
| Market Cap | 4.0B | 0 | 4.4B | 6.4B | 7.5B | 13.0B | 0 | 16.5B | 17.3B | 21.2B | 22.4B | 24.5B | 30.4B |
| Avg. Price | 96.72 | 0.00 | 99.55 | 144.20 | 208.18 | 277.21 | 0.00 | 421.61 | 404.83 | 410.44 | 426.23 | 512.99 | 655.35 |
| Year-End Price | 104.62 | 0.00 | 122.93 | 181.11 | 202.77 | 347.82 | 0.00 | 434.76 | 390.69 | 444.21 | 471.44 | 517.35 | 655.35 |
TELEDYNE TECHNOLOGIES INC passes 3 of 9 quality checks, indicating weak fundamentals.
TELEDYNE TECHNOLOGIES INC trades at 34.7x trailing earnings, compared to its 15-year median P/E of 27.4x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 28.3x vs a median of 27.1x. The company's 5-year average ROIC is 8.6% with a gross margin of 41.4%. Total shareholder yield (buybacks) is 1.3%. At current prices, the estimated annualized return to fair value is +17.3%.
TELEDYNE TECHNOLOGIES INC (TDY) reported annual revenue of $6.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
TELEDYNE TECHNOLOGIES INC (TDY) has a net profit margin of 14.6%. This is a healthy margin.
TELEDYNE TECHNOLOGIES INC (TDY) generated $1.1 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
TELEDYNE TECHNOLOGIES INC (TDY) has a debt-to-equity ratio of 0.25. This indicates a conservatively financed balance sheet.
TELEDYNE TECHNOLOGIES INC (TDY) reported earnings per share (EPS) of $18.88 in its most recent fiscal year.
TELEDYNE TECHNOLOGIES INC (TDY) has a return on equity (ROE) of 8.9%. This indicates moderate shareholder returns.
TELEDYNE TECHNOLOGIES INC (TDY) has a 5-year average gross margin of 41.4%. This indicates decent pricing power.
The Ledger Terminal provides 17 years of financial data for TELEDYNE TECHNOLOGIES INC (TDY), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TELEDYNE TECHNOLOGIES INC (TDY) has a book value per share of $221.84, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects 2026 to benefit from robust defense orders across all portfolio segments, with particular strength in low-cost drone and counter-drone technologies, space-based sensing, electronic countermeasures, and maritime surveillance applications driven by geopolitical tensions and increased defense spending in Europe and allied nations. Short-cycle commercial businesses including industrial inspection and healthcare are inflecting positively after recent headwinds, with test and measurement expected to grow in the low single digits as semiconductor suppliers increase shipments and data centers adopt newer data transfer protocols. The company is investing approximately 35% more in capital expenditure to expand capacity in areas where demand exceeds current production capability, and expects to maintain normal seasonality with approximately 48% of sales in the first half of 2026. Management anticipates continued margin expansion, particularly in Digital Imaging where margins are expected to improve approximately 80 basis points to reach 23.4%, supported by favorable product mix and cost efficiencies from recent acquisitions.
Based on recent SEC filings and earnings calls, TELEDYNE TECHNOLOGIES INC (TDY) has provided the following forward guidance: Revenue: $6.415 billion (FY2026); Non-GAAP Earnings Per Share: $23.85-$24.15 (FY2026); GAAP Earnings Per Share: $20.08-$20.44 (FY2026).