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Friday 6 November 2026
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Teleflex Incorporated
TFX Healthcare Medical Instruments & Supplies
Teleflex Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $2.0 billion, up 17.2% from fiscal 2024.
- Revenue
- +28.9%
- EPS
- −17.3%
- Free cash flow
- +220.1%
- Total debt
- +47.7%
Quarter to June 2026, against a year earlier
152.16
2.29
+1.53%
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Target Price Range
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 Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 1,868 | 2,146 | 2,448 | 2,595 | 2,537 | 2,810 | 2,791 | 1,712 | 1,700 | 1,993 | 2,255 | +0.7% | 2,268 | 2,366 | 2,475 | +7.5% | |
| Gross margin, % | 53.33 | 54.60 | 53.21 | 54.29 | 52.22 | 55.15 | 54.86 | 60.74 | 61.04 | 56.24 | 54.94 | +2.9 pt | ||||||
| EBT | 246 | 285 | 220 | 340 | 358 | 559 | 446 | 185 | 26 | 25 | (64) | (22.6%) | ||||||
| EBT margin, % | 13.15 | 13.27 | 8.97 | 13.10 | 14.10 | 19.91 | 15.98 | 10.83 | 1.55 | 1.23 | (2.82) | (11.9) pt | ||||||
| Net income | 238 | 153 | 201 | 461 | 335 | 485 | 363 | 356 | 70 | (906) | (1,032) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 43.12 | 47.69 | 53.59 | 56.18 | 54.58 | 60.07 | 59.51 | 36.45 | 36.29 | 44.66 | 51.75 | +0.4% | |||||
| Earnings | 5.48 | 3.39 | 4.39 | 9.99 | 7.21 | 10.38 | 7.74 | 7.58 | 1.49 | (20.30) | (23.28) | n/m | ||||||
| Cash flow | 9.48 | 9.47 | 9.52 | 9.46 | 9.40 | 13.94 | 7.31 | 4.39 | 6.45 | 2.17 | 2.97 | (15.1%) | ||||||
| Capex | (1.23) | (1.58) | (1.77) | (1.91) | (1.95) | (1.53) | (1.69) | (0.99) | (1.93) | (2.13) | (1.75) | +6.3% | ||||||
| Free cash flow | 8.25 | 7.90 | 7.75 | 7.55 | 7.45 | 12.41 | 5.62 | 3.40 | 4.51 | 0.03 | 1.22 | (46.0%) | ||||||
| Book value | 49.34 | 54.01 | 55.59 | 64.49 | 71.77 | 80.27 | 85.76 | 94.53 | 91.34 | 70.03 | 66.68 | +4.0% | ||||||
| Shares, m | 43 | 45 | 46 | 46 | 46 | 47 | 47 | 47 | 47 | 45 | 44 | +0.3% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 28.99 | 75.36 | 58.88 | 37.68 | 57.00 | 31.68 | 32.24 | 33.04 | 122.74 | 0.00 | 0.00 | 47.8 | |||||
| P/S | 3.68 | 5.34 | 4.82 | 6.70 | 7.54 | 5.47 | 4.20 | 3.96 | 4.90 | 2.73 | 2.94 | 4.9 | ||||||
| P/B | 3.22 | 4.72 | 4.65 | 5.84 | 5.73 | 4.09 | 2.91 | 2.65 | 1.95 | 1.74 | 2.28 | 3.8 | ||||||
| EV/Sales | 3.95 | 6.23 | 5.56 | 7.32 | 8.37 | 5.97 | 4.71 | 4.49 | 5.73 | 3.87 | 4.05 | 5.6 | ||||||
| EV/FCF | 20.63 | 37.65 | 38.42 | 54.48 | 61.30 | 28.89 | 49.83 | 83.64 | 46.08 | 5,330.95 | 171.98 | 575.2 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 411 | 426 | 435 | 437 | 437 | 652 | 343 | 206 | 302 | 97 | 129 | (14.8%) | |||||
| Capex | (53) | (71) | (81) | (88) | (91) | (72) | (79) | (46) | (90) | (95) | (76) | +6.7% | ||||||
| Free cash flow | 357 | 355 | 354 | 349 | 346 | 581 | 264 | 160 | 211 | 1 | 53 | (45.8%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 756 | 645 | 654 | 743 | 882 | 749 | 829 | 801 | 822 | 1,176 | 1,155 | +5.0% | |||||
| Net debt | 491 | 1,916 | 1,802 | 1,608 | 2,103 | 1,405 | 1,419 | 1,592 | 1,408 | 2,263 | 2,508 | +18.5% | ||||||
| Shareholders’ equity | 2,138 | 2,431 | 2,540 | 2,979 | 3,336 | 3,755 | 4,022 | 4,441 | 4,278 | 3,125 | 2,905 | +4.3% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 6.12 | 3.03 | 3.22 | 7.33 | 4.98 | 6.92 | 5.26 | 4.93 | 0.95 | (12.90) | (14.57) | (19.0) pt | |||||
| ROIC | 7.59 | 5.35 | 4.63 | 5.74 | 4.86 | 6.50 | 5.74 | 2.63 | 1.14 | 1.37 | 0.51 | (6.2) pt | ||||||
| ROE | 11.44 | 6.68 | 8.08 | 16.72 | 10.62 | 13.69 | 9.34 | 8.42 | 1.60 | (24.47) | (28.87) | (35.9) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 12,600 | 14,400 | 15,200 | 14,400 | 14,000 | 14,000 | 15,500 | 14,500 | 14,100 | 15,500 | — | +2.3% | |||||
| Revenue/emp, $m | 0.15 | 0.15 | 0.16 | 0.18 | 0.18 | 0.20 | 0.18 | 0.12 | 0.12 | 0.13 | — | (1.6%) | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Americas | 1,279 | 64.19% |
|---|---|---|
| EMEA | 472 | 23.71% |
| Asia | 241 | 12.10% |
| Gross margin | 56.24% | |
| Operating margin | 5.94% | |
| Pre-tax margin | 1.23% |
Teleflex Incorporated vs peers in Medical Instruments & Supplies (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 |
|---|---|---|---|---|---|---|---|---|---|
| AVTR Avantor, Inc. | $10.3B | 30.3× | 34.8× | +4.59% (above 0%: growing) | n/m | −9.03% (below 0%: shrinking) | 31.49% | 8.21% | Compare |
| ATR AptarGroup, Inc. | $9.1B | 34.6× | 25.9× | +6.03% (above 0%: growing) | −73.85% (below 0%: shrinking) | −16.86% (below 0%: shrinking) | 36.59% | 13.25% | Compare |
| BLCO Bausch + Lomb Corporation | $7.1B | — (loss-making) | 749× | +7.34% (above 0%: growing) | n/m | +182.54% (above 0%: growing) | 64.65% | 11.27% | Compare |
| TFX Teleflex Incorporated | $6.5B | — (loss-making) | 37.4× | +28.88% (above 0%: growing) | −17.33% (below 0%: shrinking) | +220.14% (above 0%: growing) | 58.16% | 12.77% | |
| MMSI Merit Medical Systems, Inc. | $5.4B | 33.2× | 30.7× | +8.35% (above 0%: growing) | +50.53% (above 0%: growing) | +50.18% (above 0%: growing) | 48.20% | 14.12% | Compare |
| MMED MiniMed Group, Inc. | $5.1B | — (loss-making) | 27.8× | — | n/m | −13.92% (below 0%: shrinking) | 55.16% | 0.47% | Compare |
| ICUI ICU Medical, Inc. | $4.2B | 69.3× | 48.8× | +4.37% (above 0%: growing) | n/m | +292.20% (above 0%: growing) | 41.89% | 9.34% | Compare |
| NVST Envista Holdings Corporation | $4.0B | 6.4× | 21.5× | +3.22% (above 0%: growing) | n/m | −6.48% (below 0%: shrinking) | 57.93% | 74.50% | Compare |
| PLSE Pulse Biosciences, Inc | $3.9B | — (loss-making) | — (loss-making) | +359.30% (above 0%: growing) | n/m | −1,180.54% (below 0%: shrinking) | 51.65% | (6,149.87%) | Compare |
| Median of peers | $5.2B | 33.2× | 30.7× | +6.03% | — | −7.76% | 49.92% | 10.31% |
From the latest earnings call
- Lawrence Kirsch said interventional performance fell short of expectations because integration of the acquired business was taking longer than anticipated.
- Jason Weidman said Teleflex lowered its revenue growth outlook while raising its adjusted earnings outlook, partly reflecting share repurchases and lower expected interest expense.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
113.17%
Held by the ten largest
61.64%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| BlackRock | 5.43m | 12.82% | +39.83k |
| Vanguard | 4.77m | 11.25% | −18.21k |
| Jupiter Topco | 4.34m | 10.25% | +4.34m |
| T. Rowe Price | 3.24m | 7.65% | −638.41k |
| Sessa Capital IM, L.P. | 1.53m | 3.60% | 0.00 |
| State Street | 1.48m | 3.50% | −18.82k |
| Millennium Management | 1.44m | 3.40% | +760.05k |
| BAUPOST GROUP LLC/MA | 1.41m | 3.33% | −186.00k |
| FULLER & THALER ASSET MANAGEMENT, INC. | 1.32m | 3.12% | −43.00k |
| Dimensional Fund Advisors | 1.15m | 2.72% | +155.55k |
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 13 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 6.73m | 1.84m | 30.62 |
| 2024 | 9.20m | 2.74m | 48.48 |
| 2023 | 9.04m | 9.26m | 67.48 |
| 2022 | 8.19m | 5.01m | 67.16 |
| 2021 | 8.67m | 4.24m | 87.92 |
Ownership
Directors and executive officers, together
0.70%
The Vanguard Group, Inc.
12.30%
BlackRock, Inc.
11.70%
T. Rowe Price Investment Management, Inc.
10.30%
Janus Henderson Group plc
9.40%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
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
Teleflex Incorporated (TFX) Latest News
5 Nov
22 Oct
6 Oct
29 Sep
28 Sep
9 Sep
6 Aug
TFX 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
Teleflex Incorporated designs, makes and supplies medical technology used by hospitals and healthcare providers. Founded in 1943 and headquartered in Wayne, Pennsylvania, it is led by President and Chief Executive Officer Jason Weidman. Most of its business consists of single-use devices for diagnostic and treatment procedures, including care for critically ill patients and surgery.
Its vascular products include catheters used to deliver intravenous therapies, measure blood pressure or collect blood samples. It also sells devices that allow clinicians to deliver fluids and medicines through bone when access to a vein is difficult, as well as products used to help control bleeding.