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Saturday 7 November 2026
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Teledyne Technologies Incorporated
TDY Technology Scientific & Technical Instruments
Teledyne Technologies Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $6.1 billion, up 7.86% from fiscal 2024.
- Revenue
- +9.44%
- EPS
- +25.2%
- Free cash flow
- +1.78%
- Total debt
- −20.0%
Quarter to September 2026, against a year earlier
618.60
26.88
+4.54%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 2,150 | 2,604 | 2,902 | 3,164 | 3,086 | 4,614 | 5,459 | 5,636 | 5,670 | 6,115 | 6,520 | +12.3% | 6,632 | 7,035 | 7,350 | +6.3% | |
| Gross margin, % | 38.16 | 37.63 | 38.28 | 39.30 | 38.26 | 39.91 | 42.69 | 43.29 | 42.94 | 42.76 | 43.60 | +4.6 pt | ||||||
| EBT | 241 | 287 | 394 | 474 | 470 | 534 | 908 | 959 | 938 | 1,095 | 1,268 | +18.3% | ||||||
| EBT margin, % | 11.22 | 11.02 | 13.57 | 14.97 | 15.22 | 11.57 | 16.64 | 17.02 | 16.54 | 17.90 | 19.45 | +6.7 pt | ||||||
| Net income | 191 | 227 | 334 | 402 | 402 | 445 | 789 | 887 | 821 | 896 | 1,027 | +18.7% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 62.14 | 73.97 | 81.06 | 87.15 | 84.09 | 106.81 | 116.64 | 119.65 | 120.64 | 130.67 | 140.82 | +8.6% | |||||
| Earnings | 5.37 | 6.26 | 9.01 | 10.73 | 10.62 | 10.05 | 16.53 | 18.49 | 17.21 | 18.88 | 21.88 | +15.0% | ||||||
| Cash flow | 9.16 | 10.64 | 12.48 | 13.28 | 16.86 | 19.09 | 10.40 | 17.75 | 25.36 | 25.46 | 27.66 | +12.0% | ||||||
| Capex | (2.53) | (1.66) | (2.42) | (2.44) | (1.95) | (2.35) | (1.98) | (2.44) | (1.78) | (2.51) | (2.87) | (0.1%) | ||||||
| Free cash flow | 6.63 | 8.98 | 10.06 | 10.85 | 14.92 | 16.74 | 8.42 | 15.31 | 23.58 | 22.95 | 24.79 | +14.8% | ||||||
| Book value | 44.92 | 55.32 | 62.28 | 74.79 | 87.97 | 176.44 | 174.56 | 195.78 | 203.18 | 224.66 | 240.51 | +19.6% | ||||||
| Shares, m | 35 | 35 | 36 | 36 | 37 | 43 | 47 | 47 | 47 | 47 | 46 | +3.4% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 23.18 | 29.54 | 22.98 | 32.33 | 36.94 | 44.09 | 24.25 | 23.69 | 26.94 | 27.01 | 28.21 | 29.1 | |||||
| P/S | 2.00 | 2.49 | 2.55 | 3.98 | 4.66 | 4.09 | 3.44 | 3.66 | 3.85 | 3.91 | 4.38 | 3.5 | ||||||
| P/B | 2.76 | 3.33 | 3.32 | 4.63 | 4.46 | 2.48 | 2.30 | 2.24 | 2.28 | 2.27 | 2.57 | 3.0 | ||||||
| EV/Sales | 2.24 | 2.88 | 2.76 | 4.18 | 4.70 | 4.88 | 4.04 | 4.12 | 4.20 | 4.26 | 4.61 | 3.8 | ||||||
| EV/FCF | 20.97 | 23.69 | 22.27 | 33.61 | 26.47 | 31.16 | 55.91 | 32.22 | 21.49 | 24.23 | 26.18 | 29.2 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 317 | 375 | 447 | 482 | 619 | 825 | 487 | 836 | 1,192 | 1,191 | 1,281 | +15.8% | |||||
| Capex | (88) | (58) | (87) | (88) | (71) | (102) | (93) | (115) | (84) | (117) | (133) | +3.3% | ||||||
| Free cash flow | 229 | 316 | 360 | 394 | 548 | 723 | 394 | 721 | 1,108 | 1,074 | 1,148 | +18.7% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 344 | 471 | 394 | 551 | 962 | 931 | 1,295 | 1,215 | 1,683 | 1,196 | 1,992 | +14.8% | |||||
| Net debt | 519 | 1,002 | 605 | 651 | 105 | 3,653 | 3,283 | 2,597 | 1,999 | 2,123 | 1,465 | +16.9% | ||||||
| Shareholders’ equity | 1,554 | 1,947 | 2,230 | 2,715 | 3,229 | 7,622 | 8,169 | 9,221 | 9,549 | 10,514 | 11,135 | +23.7% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 6.95 | 6.86 | 8.72 | 9.59 | 8.32 | 4.56 | 5.48 | 6.13 | 5.70 | 6.07 | 6.64 | (0.9) pt | |||||
| ROIC | 7.25 | 6.82 | 9.19 | 9.13 | 9.00 | 3.46 | 5.30 | 5.47 | 5.35 | 5.69 | 6.47 | (1.6) pt | ||||||
| ROE | 13.17 | 12.98 | 15.98 | 16.27 | 13.52 | 8.21 | 9.99 | 10.19 | 8.73 | 8.92 | 9.47 | (4.3) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 8,970 | 6,760 | 10,850 | 11,790 | 10,670 | 14,500 | 14,700 | 14,900 | 14,900 | 15,800 | — | +6.5% | |||||
| Revenue/emp, $m | 0.24 | 0.39 | 0.27 | 0.27 | 0.29 | 0.32 | 0.37 | 0.38 | 0.38 | 0.39 | — | +5.5% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Digital Imaging | 3,164 | 51.74% |
|---|---|---|
| Instrumentation | 1,457 | 23.83% |
| Aerospace and Defense Electronics | 1,059 | 17.31% |
| Engineered Systems | 436 | 7.12% |
| Gross margin | 42.76% | |
| Operating margin | 18.80% | |
| Pre-tax margin | 17.90% |
Teledyne Technologies Incorporated vs peers in Scientific & Technical Instruments (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| GRMN Garmin Ltd. | $55.2B | 27.2× | 26.5× | +12.15% (above 0%: growing) | +34.40% (above 0%: growing) | −31.01% (below 0%: shrinking) | 63.33% | 30.80% | Compare |
| KEYS Keysight Technologies Inc. | $44.4B | 36.9× | 31.2× | +36.54% (above 0%: growing) | +109.91% (above 0%: growing) | +40.21% (above 0%: growing) | 65.87% | 24.97% | Compare |
| COHR Coherent Corp. | $33.4B | 38.3× | 21.8× | +49.89% (above 0%: growing) | +56.84% (above 0%: growing) | −1,695.49% (below 0%: shrinking) | 39.14% | 15.94% | Compare |
| TDY Teledyne Technologies Incorporated | $27.2B | 28.2× | 28.3× | +9.44% (above 0%: growing) | +25.16% (above 0%: growing) | +1.78% (above 0%: growing) | 43.88% | 20.61% | |
| FTV Fortive Corporation | $19.5B | 30.7× | 30.5× | +7.83% (above 0%: growing) | +237.76% (above 0%: growing) | +108.91% (above 0%: growing) | 64.16% | 21.30% | Compare |
| TRMB Trimble Inc. | $12.5B | — (loss-making) | — (loss-making) | +7.28% (above 0%: growing) | −45.89% (below 0%: shrinking) | +21.61% (above 0%: growing) | 68.17% | 14.69% | Compare |
| MKSI MKS Inc. | $12.0B | 21.5× | 20.4× | +43.02% (above 0%: growing) | +216.91% (above 0%: growing) | +100.00% (above 0%: growing) | 47.70% | 23.07% | Compare |
| CGNX Cognex Corporation | $8.0B | 32.8× | 28.9× | +13.18% (above 0%: growing) | +358.18% (above 0%: growing) | +20.62% (above 0%: growing) | 70.76% | 32.17% | Compare |
| ESE ESCO Technologies Inc. | $7.0B | 19.0× | 39.6× | +14.40% (above 0%: growing) | +24.75% (above 0%: growing) | −22.12% (below 0%: shrinking) | 41.74% | 14.80% | Compare |
| Median of peers | $16.0B | 30.7× | 28.9× | +13.79% | +83.38% | +21.12% | 63.75% | 22.19% |
From the latest earnings call
- CEO George Bobb said Digital Imaging sales grew across defense and commercial markets, with demand for infrared sensors, cameras and subsystems contributing to the increase.
- Executive Chairman Robert Mehrabian said Teledyne’s backlog stood at $5.3 billion, with about 72% available to become revenue over the next 12 months.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
93.96%
Held by the ten largest
51.67%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 5.89m | 12.70% | +7.88k |
| BlackRock | 4.13m | 8.90% | +66.11k |
| T. Rowe Price | 3.33m | 7.18% | −295.60k |
| State Street | 2.27m | 4.89% | +74.62k |
| Fidelity International (FIL) | 1.83m | 3.96% | +222.16k |
| Dodge & Cox | 1.61m | 3.48% | +8.57k |
| Jupiter Topco | 1.54m | 3.32% | +1.54m |
| Geode Capital Management | 1.32m | 2.84% | +5.78k |
| JPMorgan Chase | 1.03m | 2.21% | −244.78k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | 1.02m | 2.19% | −183.80k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 12 March 2026
Ownership
Directors and executive officers, together
1.30%
100 Vanguard Blvd Malvern, PA
12.90%
50 Hudson Yards New York, NY
8.90%
100 E. Pratt Street Baltimore, MD
6.80%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Teledyne Technologies Incorporated (TDY) Latest News
21 Oct
20 Oct
13 Oct
22 Sep
15 Sep
8 Sep
TDY metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Teledyne Technologies is a technology company that makes equipment used to sense, measure, analyze and distribute information in applications where reliability and technical performance matter. It was founded in 1960 and is headquartered in Thousand Oaks. George C. Bobb III is President and Chief Executive Officer.
Its products span digital imaging sensors, cameras and systems that work in visible, infrared, ultraviolet and X-ray wavelengths; instruments used to monitor water, air and industrial processes; electronic test equipment; connectors for harsh environments; aircraft data and connectivity systems; defense electronics; and satellite communications subsystems. It also designs and manufactures larger engineered systems for defense, space, environmental and energy uses.