Teledyne Technologies Incorporated TDY

Information TechnologyElectronic Equipment & PartsUnited States of America

Last close 658.23 USD on Nov 1, 2026, +28.9% year to date

Quant rating

Quant rating B Rank 123 of 389 in Information Technology

Growth C 265 of 389
Valuation B 150 of 389
Quality C 186 of 389
Revisions B 67 of 389
Momentum B 136 of 389

Wall Street consensus Buy (2.15)Average target 769.28 USD +16.9%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 30.3B
Enterprise value: 31.8B
52-week range: 483.84 – 697.49
3-year range: 362.50 – 697.49
Dividend yield: –
Beta (5 years): 0.90
Shares outstanding: 46.0M
Next earnings: Jan 19, 2027

About the company

Teledyne Technologies Incorporated is a provider of digital imaging products and software, instrumentation, aerospace and defense electronics, and engineered systems. Its segments include Digital Imaging, which includes sensors, cameras and systems, within the visible, infrared, ultraviolet and X-ray spectra for use in industrial, scientific, government, defense, and others; Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial and other applications, and electronic test and measurement equipment; Aerospace and Defense Electronics segment provides electronic and optical components and subsystems, data acquisition and communications components and equipment, harsh environment interconnects, general aviation batteries and other components, and Engineered Systems segment provides systems engineering, integration and technology development and manufacturing solutions. It also develops and manufactures gas sensors for critical applications.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	6,115	5,670	5,636	5,459	4,614	–
Revenue growth	7.9%	0.6%	3.2%	18.3%	49.5%	14.7%
EPS (basic, normalized)	21.99	19.73	19.69	18.19	16.86	–
EPS growth	11.5%	0.2%	8.2%	7.9%	–	–
Gross margin	42.8%	42.9%	43.3%	42.7%	40.0%	42.3%
Net margin	14.6%	14.4%	15.7%	14.4%	9.7%	13.8%
ROE	8.9%	8.7%	10.2%	10.0%	8.2%	9.2%

Balance sheet, last quarter
Cash & short-term investments (mil)	562
Current ratio	2.31x
Long-term debt (mil)	2,028
Net debt (mil)	1,465
Total equity (mil)	11,135
Net debt / equity	0.13x
Net debt / EBITDA	0.98x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	6,115	+7.9%	5.2x	1,500	+10.7%	21.2x	21.99	+11.5%	29.9x
2026	6,625	+8.3%	4.8x	1,679	+12.0%	18.9x	25.53	+16.1%	25.8x
2027	7,030	+6.1%	4.5x	1,820	+8.4%	17.5x	27.73	+8.6%	23.7x
2028	7,360	+4.7%	4.3x	1,942	+6.7%	16.4x	29.75	+7.3%	22.1x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	6,625	+1.0%	+1.1%	+3.1%	25.53	+3.2%	+3.3%	+5.8%
2027	7,030	+1.7%	+1.8%	+4.0%	27.73	+3.6%	+3.8%	+6.4%
2028	7,360	+2.2%	+2.4%	+3.9%	29.75	+3.4%	+3.6%	+5.7%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,350	1,374	1,444	1,502	1,450	1,514	1,540	1,612	1,560	1,662
Sales mean (mil)	1,396	1,361	1,417	1,451	1,426	1,476	1,528	1,572	1,517	1,579
Surprise	−3.3%	+1.0%	+1.9%	+3.6%	+1.7%	+2.6%	+0.8%	+2.6%	+2.8%	+5.3%
EPS reported	4.55	4.58	5.10	5.52	4.95	5.20	5.57	6.30	5.80	6.28
EPS mean	4.63	4.50	4.97	5.22	4.92	5.05	5.48	5.75	5.48	5.80
Surprise	−1.7%	+1.9%	+2.6%	+5.7%	+0.6%	+2.9%	+1.7%	+9.6%	+5.9%	+8.4%

Peer comparison Electronic Equipment & Parts

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
TDY Teledyne Technologies Incorporated	30.3B	0.98x	14.6%	2.73x	25.8x	23.7x	18.9x	17.5x
HEXAb Hexagon AB	29.0B	0.22x	11.4%	4.45x	29.7x	28.8x	17.4x	15.6x
APH Amphenol Corp	195.6B	1.84x	18.5%	11.42x	29.8x	22.3x	17.1x	14.1x
GLW Corning Incorporated	106.2B	1.39x	10.2%	8.17x	36.6x	27.3x	19.6x	15.4x
ZBRA Zebra Technologies Corp	17.1B	2.23x	7.8%	4.98x	17.3x	16.2x	13.6x	13.1x
Mean		1.33x	12.5%	6.35x	27.8x	23.7x	17.3x	15.1x
Median		1.39x	11.4%	4.98x	29.7x	23.7x	17.4x	15.4x

Technical analysis

1M+7.8%
3M+1.3%
1Y+25.3%
3Y+77.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Teledyne Technologies Incorporated, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	6,115	5,670	5,636	5,459	4,614	3,086
Cost of revenue	3,501	3,235	3,196	3,128	2,770	1,905
Gross profit	2,615	2,435	2,439	2,330	1,844	1,181
Selling, general & administrative expenses	931	903	842	796	744	701
Research & development	317	293	366	361	299	–
Depreciation/amortization	217	198	197	202	149	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	−15.0	52.5	−1.6	−10.6	57.0	–
Other operating expenses	0	0	0	0	0	0
Operating income	1,165	989	1,036	983	594	480
Net interest income (expense)	−59.6	−57.9	−77.3	−89.3	−73.6	−15.3
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−10.7	6.7	0.2	14.8	13.7	4.9
Net income before taxes	1,094	938	959	908	534	470
Provision for taxes	199	117	72.3	119	88.5	67.8
Minority interest	−0.9	−1.5	−0.9	−0.3	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	895	819	886	789	445	402
Extraordinary items	–	–	–	–	–	–
Net income	895	819	886	789	445	402
EBIT, normalized	1,150	1,042	1,034	972	728	501
EBITDA, normalized	1,486	1,352	1,351	1,304	1,100	617
Basic EPS, normalized	21.99	19.73	19.69	18.19	16.86	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Teledyne Technologies Incorporated, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	352	650	648	638	475	673
Receivables	1,367	1,213	1,202	1,158	1,084	624
Total inventory	1,043	914	918	891	753	347
Prepaid expenses	293	167	213	131	118	78.1
Other current assets	0	0	0	0	0	0
Total current assets	3,056	2,945	2,981	2,818	2,429	1,723
Property, plant & equipment	995	874	919	912	972	613
Goodwill	8,688	7,990	8,003	7,873	7,987	2,150
Intangibles	2,100	2,013	2,278	2,441	2,742	410
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	447	379	347	311	301	190
Total assets	15,285	14,200	14,528	14,354	14,430	5,085
Liabilities
Accounts payable	487	416	385	506	470	229
Payable/accrued	–	–	–	–	–	–
Accrued expenses	324	516	540	530	1,029	434
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	450	0.3	600	300	0	97.6
Other current liabilities	600	329	241	188	0	0
Total current liabilities	1,860	1,262	1,766	1,523	1,498	761
Long-term debt	2,025	2,649	2,645	3,620	4,099	681
Minority interest	0	6.0	4.6	3.7	–	–
Other liabilities	886	735	891	1,037	1,211	414
Total liabilities	4,771	4,651	5,307	6,185	6,808	1,856
Shareholders' equity
Preferred stock	0	–	–	0	0	0
Common stock	0.5	0.5	0.5	0.5	0.5	0.4
Additional paid-in capital	4,383	4,414	4,407	4,353	4,317	390
Retained earnings (accumulated deficit)	7,141	6,267	5,448	4,562	3,773	3,328
Treasury stock	−585	−292	0	−20.0	−38.8	−59.5
Other equity	−425	−840	−634	−727	−430	−430
Total equity	10,514	9,549	9,221	8,169	7,622	3,229
Total liabilities & shareholders' equity	15,285	14,200	14,528	14,354	14,430	5,085

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Teledyne Technologies Incorporated, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	896	821	887	789	445	402
Depreciation, depletion & amortization	336	310	316	332	372	116
Deferred taxes	−86.6	−121	−231	−35.2	−21.4	−28.8
Non-cash items	24.6	90.2	30.7	20.9	64.4	30.0
Changes in working capital	21.3	91.8	−167	−620	−35.5	99.6
Cash from operations	1,191	1,192	836	487	825	619
Investing activities
Capital expenditures	−117	−83.7	−115	−92.6	−102	−71.4
Other investing cash flows	−821	−123	−75.4	−82.8	−3,723	−28.0
Cash from investing	−938	−207	−190	−175	−3,824	−99.4
Financing activities
Financing cash flow items	−37.3	−29.1	−18.0	41.2	−52.5	0
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−518	−917	−634	−151	2,860	−61.8
Cash from financing	−555	−946	−652	−110	2,807	−61.8
Foreign exchange effects	4.4	−37.4	15.9	−38.0	−5.8	15.9
Net change in cash	−297	1.5	10.2	163	−198	474
Free cash flow	1,074	1,108	721	394	723	548

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.