NYSE: TDY
Teledyne Technologies
Technology · Search, Detection, Navigation, Guidance, Aeronautical Sys
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Sep 27, 2026. Hover or tap a column for another year.$28.3B
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| Period | Market cap |
|---|---|
| FY2016, ended Jan 1, 2017 | $4.33B |
| FY2017, ended Dec 31, 2017 | $6.47B |
| FY2018, ended Dec 30, 2018 | $7.34B |
| FY2019, ended Dec 29, 2019 | $12.7B |
| FY2020, ended Jan 3, 2021 | $14.5B |
| FY2021, ended Jan 2, 2022 | $20.6B |
| FY2022, ended Jan 1, 2023 | $18.8B |
| FY2023, ended Dec 31, 2023 | $21.1B |
| FY2024, ended Dec 29, 2024 | $22.1B |
| FY2025, ended Dec 28, 2025 | $24.0B |
| Trailing 12 months to Sep 27, 2026 (through Q3 FY2026) | $28.3B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Sep 27, 2026. Hover or tap a column for another year.$6.52B
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| Period | Revenue |
|---|---|
| FY2016, ended Jan 1, 2017 | $2.15B |
| FY2017, ended Dec 31, 2017 | $2.60B |
| FY2018, ended Dec 30, 2018 | $2.90B |
| FY2019, ended Dec 29, 2019 | $3.16B |
| FY2020, ended Jan 3, 2021 | $3.09B |
| FY2021, ended Jan 2, 2022 | $4.61B |
| FY2022, ended Jan 1, 2023 | $5.46B |
| FY2023, ended Dec 31, 2023 | $5.64B |
| FY2024, ended Dec 29, 2024 | $5.67B |
| FY2025, ended Dec 28, 2025 | $6.12B |
| Trailing 12 months to Sep 27, 2026 (through Q3 FY2026) | $6.52B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Sep 27, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Jan 1, 2017 | $191M | $229M |
| FY2017, ended Dec 31, 2017 | $227M | $316M |
| FY2018, ended Dec 30, 2018 | $334M | $360M |
| FY2019, ended Dec 29, 2019 | $402M | $394M |
| FY2020, ended Jan 3, 2021 | $402M | $548M |
| FY2021, ended Jan 2, 2022 | $445M | $723M |
| FY2022, ended Jan 1, 2023 | $789M | $394M |
| FY2023, ended Dec 31, 2023 | $886M | $721M |
| FY2024, ended Dec 29, 2024 | $819M | $1.11B |
| FY2025, ended Dec 28, 2025 | $895M | $1.07B |
| Trailing 12 months to Sep 27, 2026 (through Q3 FY2026) | $1.03B | $1.15B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Sep 27, 2026. Hover or tap a column for another year.$562M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Jan 1, 2017 | $98.6M |
| FY2017, ended Dec 31, 2017 | $70.9M |
| FY2018, ended Dec 30, 2018 | $143M |
| FY2019, ended Dec 29, 2019 | $200M |
| FY2020, ended Jan 3, 2021 | $673M |
| FY2021, ended Jan 2, 2022 | $475M |
| FY2022, ended Jan 1, 2023 | $638M |
| FY2023, ended Dec 31, 2023 | $648M |
| FY2024, ended Dec 29, 2024 | $650M |
| FY2025, ended Dec 28, 2025 | $352M |
| Trailing 12 months to Sep 27, 2026 (through Q3 FY2026) | $562M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Sep 27, 2026. Hover or tap a column for another year.$2.03B
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| Period | Total debt |
|---|---|
| FY2016, ended Jan 1, 2017 | $510M |
| FY2017, ended Dec 31, 2017 | $1.07B |
| FY2018, ended Dec 30, 2018 | $748M |
| FY2019, ended Dec 29, 2019 | $851M |
| FY2020, ended Jan 3, 2021 | $779M |
| FY2021, ended Jan 2, 2022 | $4.10B |
| FY2022, ended Jan 1, 2023 | $3.92B |
| FY2023, ended Dec 31, 2023 | $3.24B |
| FY2024, ended Dec 29, 2024 | $2.65B |
| FY2025, ended Dec 28, 2025 | $2.48B |
| Trailing 12 months to Sep 27, 2026 (through Q3 FY2026) | $2.03B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 30.7% since 2016.Figures shown are for the trailing 12 months to Sep 27, 2026. Hover or tap a column for another year.46.0M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Jan 1, 2017 | 35.2M |
| FY2017, ended Dec 31, 2017 | 35.7M |
| FY2018, ended Dec 30, 2018 | 36.2M |
| FY2019, ended Dec 29, 2019 | 36.6M |
| FY2020, ended Jan 3, 2021 | 37.0M |
| FY2021, ended Jan 2, 2022 | 47.2M |
| FY2022, ended Jan 1, 2023 | 47.0M |
| FY2023, ended Dec 31, 2023 | 47.4M |
| FY2024, ended Dec 29, 2024 | 46.8M |
| FY2025, ended Dec 28, 2025 | 46.3M |
| Trailing 12 months to Sep 27, 2026 (through Q3 FY2026) | 46.0M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Sep 27, 2026. Hover or tap a column for another year.$498M
Net: $498M more bought back than issued
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| Period | Bought back |
|---|---|
| FY2016, ended Jan 1, 2017 | $0 |
| FY2017, ended Dec 31, 2017 | $0 |
| FY2018, ended Dec 30, 2018 | — |
| FY2019, ended Dec 29, 2019 | — |
| FY2020, ended Jan 3, 2021 | — |
| FY2021, ended Jan 2, 2022 | — |
| FY2022, ended Jan 1, 2023 | $0 |
| FY2023, ended Dec 31, 2023 | $0 |
| FY2024, ended Dec 29, 2024 | $354M |
| FY2025, ended Dec 28, 2025 | $403M |
| Trailing 12 months to Sep 27, 2026 (through Q3 FY2026) | $498M |
Revenue (TTM)
$6.52B
+8.6% YoY
Net income (TTM)
$1.03B
+25.6% YoY
Cash
$562M
+6.4% YoY
Total debt
$2.03B
−20.0% YoY
Valuation
At current price- Market Cap
- $30.3B
- P/E
- 29.5×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 4.6×
- Price / Book
- 2.7×
- EV / EBITDA
- 19.3×
Growth
Trailing 12 months- Revenue (TTM)
- $6.52B
- Revenue Growth YoY
- 8.6%
- Revenue CAGR 3Y
- 3.9%
- Revenue CAGR 5Y
- 14.7%
- EPS Growth YoY
- 26.5%
- Net Income Growth YoY
- 25.6%
Profitability
Trailing 12 months- Gross Margin
- 43.6%
- Operating Margin
- 20.0%
- Net Margin
- 15.8%
- FCF Margin
- 17.6%
- Return on Equity
- 9.5%
Earnings
Trailing 12 months- Net Income
- $1.03B
- EPS (diluted)
- $21.84
- EBITDA
- $1.65B
- Operating Income
- $1.30B
Balance Sheet
As of Sep 27, 2026- Cash and cash equivalents
- $562M
- Total Debt
- $2.03B
- Net Debt
- $1.47B
- Total Assets
- $15.6B
- Total Liabilities
- $4.43B
- Shareholders' Equity
- $11.1B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.28B
- Capital Expenditure
- $133M
- Free Cash Flow
- $1.15B
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 0.89
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 8.6% year over year, at $6.52B.
Strength
Operating margin widened 2.4 pts in a year, to 20.0%.
Note
Net debt of $1.47B is 0.9× EBITDA, a manageable load.
Strength
Turns 17.6% of revenue into free cash flow.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Sep 27, 2026 · filed Oct 23, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K61Nothing notable
10-K for the fiscal year ended Dec 28, 2025
Filed Feb 20, 2026 · Read the filing on EDGAR
- Sales rose 7.9% to $6,115.4 million and operating income rose 16.2%, though about $270 million of the sales growth came from acquisitions.
- Net income rose a smaller 9.2% because the tax rate increased to 18.2% from 12.5%.
- Teledyne spent $821.4 million on acquisitions and $400 million on buybacks, cutting cash to $352.4 million while operating cash flow stayed near $1.19 billion.
- A January 2026 executive order may restrict buybacks and dividends at major defense contractors; whether it applies to Teledyne is unclear.
Business momentum
Improving
“Operating income increased in 2025, primarily driven by higher operating income in each segment”
Outlook
Cautious
“Budget cuts at NASA have negatively impacted the revenues of Engineered Systems in 2025 and are expected to further impact revenues in 2026.”
Financial stress
Low
“we were in compliance with these covenants and had a significant amount of margin between required financial covenant ratios and our actual ratios”
Tone against the previous report
About the same
Red flags
- Minor
Other
“China has also increased sanctions on certain specific U.S. companies, including two Teledyne legal entities, by adding them to its Unreliable Entity List or Export Control List”
Positives
All four segments increased operating income, with no trademark write-downs in 2025
“No trademark impairments were recorded in 2025.”
Cash generation stayed strong, funding acquisitions, buybacks and debt repurchases
“In 2025, we generated $1,191.3 million of cash flow from operating activities, and we used our cash flow in 2025 to fund acquisitions, make stock repurchases as well as repurchase portions of our fixed rate senior notes.”
FLIR's value cushion above its carrying value widened to 8% from about 5%
“the estimated fair value of the FLIR reporting unit exceeded its carrying value by approximately $619.2 million or 8%”
Concerns
FLIR trademark is worth only about 3% above book value, so another write-down is possible
“the FLIR indefinite-lived trademark had a carrying value of $635.8 million and a fair value of $657.4 million, or approximately 3% above its carrying value”
Most sales growth came from acquisitions, and those deals lowered aerospace and defense margins
“Total year 2025 net sales included $270.1 million in incremental net sales from current and prior year acquisitions.”
The 43-day government shutdown delayed awards, licenses, shipments and payments
“In the fall of 2025, a shutdown of the U.S.”
New risks since the previous report
Executive order could limit buybacks, dividends and executive pay at defense contractors
“the executive order could have a material adverse impact on our ability to make stock repurchases or issue dividends and continue to attract and retain executive talent”
Some sales depend on AI and data center spending, which could prove volatile
“Some of our product sales are tied to artificial intelligence (“AI”)-related capital expenditures and data center infrastructure.”
China's limits on rare earths and magnets can delay products or cut margins
“China has also restricted the export of certain rare earth minerals and permanent magnets that are used in our products, which has in the past delayed and could in the future limit our ability to sell products”
European defense contracts increasingly require local production, which could cost Teledyne bids
“As European countries increase their defense spending, requirements to have production facilities in the EU are becoming more common to win contracts.”
US government is cancelling more defense electronics contracts as priorities shift
“our Defense Electronics businesses have seen an increase in terminations for convenience due to shifting Government priorities”
Biggest risks named
- Possible further FLIR goodwill and trademark write-downs
- Tariffs, export restrictions and China sanctions on Teledyne entities
- US government budget cuts, shutdowns and contract cancellations
- Executive order restricting defense contractor buybacks and dividends
- FLIR export-control matters and possible penalties
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | −2 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −0.9 | |
| New risks | −2 | |
| Score | 61 | |
Written by AI (Claude Opus 5.5) from the report’s text. 15 of 15 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 23, 2026 | Pro | |||
| 10-K | Feb 20, 2026 | 61 | Improving | 1 minor | |
| 10-K | Feb 21, 2025 | 50 | Mixed | 1 minor | |
| 10-K | Feb 23, 2024 | 60 | Improving | 1 medium | |
| 10-K | Feb 24, 2023 | 68 | Strong improvement | None | |
| 10-K | Feb 25, 2022 | 65 | Strong improvement | 2 medium | |
| 10-K | Feb 26, 2021 | 48 | Weakening | 1 medium | |
| 10-K | Feb 24, 2020 | 68 | Strong improvement | None | |
| 10-K | Feb 25, 2019 | 70 | Strong improvement | None | |
| 10-K | Feb 27, 2018 | 72 | Strong improvement | None |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Sep 27, 2026), filed Oct 23, 2026. View filings on SEC EDGAR