Teledyne Technologies Incorporated
- Open
- 633.74
- Day high
- 643.49
- Day low
- 621.98
- Prev close
- 635.52
- Volume
- 440K
- Mkt cap
- $29.0B
- P/E (TTM)
- 31.5
- EPS (TTM)
- $19.88
- P/B
- 2.7
- P/S
- 4.7
- Yield
- —
- Per share
- —
Teledyne Technologies Incorporated (TDY) is a Technology company listed on NYSE. The stock is up 12% over the past year.
Teledyne Technologies Incorporated (TDY) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TDY earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | $5.48 | $5.80 | +5.8% | $1.6B | +3.0% |
| Jan 21, 2026 | $5.83 | $6.30 | +8.1% | $1.6B | +2.7% |
| Oct 22, 2025 | $5.47 | $5.57 | +1.8% | $1.5B | +0.8% |
| Jul 23, 2025 | $5.05 | $5.20 | +3.0% | $1.5B | +2.6% |
| Apr 23, 2025 | $4.92 | $4.95 | +0.6% | $1.4B | +1.1% |
| Jan 22, 2025 | $5.22 | $5.52 | +5.7% | $1.5B | +3.6% |
| Oct 23, 2024 | $4.97 | $5.10 | +2.6% | $1.4B | +1.9% |
| Jul 24, 2024 | $4.50 | $4.58 | +1.8% | $1.4B | +1.1% |
| Jan 24, 2024 | $5.04 | $5.44 | +7.9% | $1.4B | -2.8% |
| Oct 25, 2023 | $4.76 | $5.05 | +6.1% | $1.4B | -3.9% |
| Jul 26, 2023 | $4.64 | $4.67 | +0.6% | $1.4B | +0.9% |
| Jan 25, 2023 | $4.54 | $4.94 | +8.8% | $1.4B | +0.3% |
TDY insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Apr 24, 2026 | Cibik Melanie Susanofficer: EVP, GenCounsel, CCO & Sec. | Grant | 2,138 | $656.69 |
| Apr 24, 2026 | Blackwood Stephen Finisofficer: Executive VP and CFO | Grant | 2,470 | $656.69 |
| Apr 24, 2026 | Bobb George C IIIdirector, officer: President and CEO | Grant | 5,515 | $656.69 |
| Apr 24, 2026 | MEHRABIAN ROBERTdirector, officer: Executive Chairman | Grant | 5,633 | $656.69 |
| Apr 24, 2026 | VanWees Jasonofficer: Vice Chairman | Option | 126 | — |
| Apr 24, 2026 | VanWees Jasonofficer: Vice Chairman | Grant | 2,415 | $656.69 |
| Apr 24, 2026 | VanWees Jasonofficer: Vice Chairman | Tax | 65 | — |
| Apr 24, 2026 | VanWees Jasonofficer: Vice Chairman | Grant | 272 | $656.69 |
| Apr 24, 2026 | Belak Cynthia Yofficer: Senior VP and Controller | Grant | 1,255 | $656.69 |
| Apr 23, 2026 | Sherburne Jane Ceciledirector | Grant | 319 | — |
| Apr 23, 2026 | Black Laura A.director | Grant | 319 | — |
| Apr 23, 2026 | VON SCHACK WESLEY Wdirector | Grant | 319 | — |
| Apr 23, 2026 | LORNE SIMON Mdirector | Grant | 319 | — |
| Apr 23, 2026 | Malone Robert Adirector | Grant | 319 | — |
| Apr 23, 2026 | Morales Vincent Jdirector | Grant | 319 | — |
Source: TDY SEC Form 4 filings, latest Apr 24, 2026. For informational purposes only — not investment advice.
See the full TDY insider & 13F page →Teledyne Technologies Incorporated company profile
Overview
Teledyne Technologies Incorporated (NYSE:TDY) is a diversified technology company founded in 1960 and headquartered in Thousand Oaks, California. The company went public in 1999 and has evolved into a leading provider of sophisticated instrumentation, digital imaging solutions, aerospace and defense electronics, and engineered systems. Through strategic acquisitions, including the major purchase of FLIR Systems in 2021, Teledyne has built a comprehensive portfolio of enabling technologies that serve critical applications across defense, industrial, scientific, and commercial markets worldwide.
Business
Teledyne operates across four primary business segments that provide specialized technology solutions for demanding applications. The company's portfolio spans from underwater sensors that monitor ocean conditions to thermal imaging cameras that detect threats, and from precision electronic components in aircraft to sophisticated test equipment in laboratories. Digital Imaging represents the largest segment at approximately 54% of total revenue, generating around $3.1 billion annually. This division produces advanced imaging sensors and cameras across multiple spectrums. The business includes visible spectrum sensors and digital cameras used in industrial machine vision for automated quality control in manufacturing, as well as medical and scientific imaging applications. The segment also encompasses infrared thermal imaging systems (primarily from the acquired FLIR business) used for defense applications, industrial monitoring, and security. Additionally, it produces X-ray imaging systems and micro electromechanical systems (MEMS), along with critical analog-to-digital and digital-to-analog converters that enable electronic systems to process real-world signals. Instrumentation accounts for approximately 25% of revenue, generating around $1.4 billion annually. This segment provides monitoring and control instruments for marine environments, including underwater sensors that measure ocean temperature, salinity, and currents for scientific research and offshore energy operations. The division also produces environmental monitoring equipment for air and water quality assessment, electronic test and measurement equipment used in laboratories and manufacturing, and power and communications connectivity devices for distributed sensor networks. Aerospace and Defense Electronics represents about 14% of revenue, generating approximately $800 million annually. This segment manufactures electronic components and subsystems for aircraft, including data acquisition systems, communication equipment, and general aviation batteries. The business serves both commercial aerospace manufacturers like Boeing and Airbus, as well as defense contractors requiring specialized electronic components for military applications. Engineered Systems comprises the remaining 8% of revenue, generating around $450 million annually. This segment provides complete system engineering and integration services, designing and manufacturing electrochemical energy systems and electronics primarily for military and space applications, along with environmental and energy market solutions.
Revenue model
Teledyne generates revenue primarily through direct product sales to industrial, government, and commercial customers. The company operates on a traditional manufacturing business model where it designs, manufactures, and sells sophisticated technology products at premium prices justified by their specialized applications and high performance requirements. The company's customers include government agencies (particularly defense and space organizations), large industrial manufacturers, scientific research institutions, commercial aerospace companies, and energy companies. Revenue is generated through both direct sales via internal sales teams and through third-party distributors and sales representatives, depending on the market and application. Several factors influence Teledyne's profitability and margins. Positive margin drivers include the company's focus on high-value, specialized applications where customers prioritize performance over price, leading to premium pricing power. The company benefits from long product lifecycles in defense and aerospace applications, providing stable revenue streams. Scale advantages from acquisitions allow for operational synergies and cost reduction. Additionally, Teledyne's diverse end markets provide some protection against cyclical downturns in any single industry. Margin pressures come from several sources. Supply chain constraints and component shortages, particularly in semiconductors, have increased procurement costs and forced the company to source from higher-cost suppliers. The company faces material cost inflation of approximately 3.5% and wage inflation of around 3.25% annually. Competitive pressures in commercial markets, particularly in industrial machine vision and test equipment, can limit pricing flexibility. Currency fluctuations also impact margins, with a strong U.S. dollar creating headwinds for international sales. Integration costs from acquisitions temporarily depress margins until synergies are realized. The company's book-to-bill ratio, which measures orders received versus sales shipped, serves as a leading indicator of future revenue trends. Recent quarters have shown ratios above 1.0, indicating growing demand, particularly in defense and aerospace applications.
Competitive moat
Teledyne's competitive moat is moderately strong but varies significantly across its business segments. The company's primary competitive advantages stem from its specialized technical expertise, long-standing customer relationships, and high switching costs in mission-critical applications. In defense and aerospace markets, Teledyne benefits from substantial barriers to entry including lengthy qualification processes, security clearances, and stringent regulatory requirements. Once products are designed into aircraft or defense systems, the switching costs are extremely high due to recertification requirements and the critical nature of these applications. The company's decades-long relationships with major defense contractors and government agencies create significant customer stickiness. The instrumentation business, particularly marine and environmental monitoring equipment, enjoys strong positioning due to Teledyne's technical reputation and the specialized nature of these applications. Customers in scientific research and offshore energy operations value reliability and accuracy over price, providing some pricing power. However, the moat is weaker in certain commercial segments. The industrial machine vision market faces intense competition from both established players and emerging companies, particularly those offering lower-cost solutions from Asia. The test and measurement equipment business competes against large, well-established companies with significant R&D resources. Competitive threats include larger technology conglomerates with deeper pockets for R&D investment, specialized competitors in individual market segments, and potential disruption from emerging technologies. In the thermal imaging market, competition from companies developing lower-cost alternatives could pressure FLIR's premium positioning. Additionally, customers' increasing focus on cost reduction, particularly in commercial markets, could erode pricing power over time. The company's acquisition strategy helps strengthen its moat by expanding its technical capabilities and market reach, but successful integration remains crucial for maintaining competitive advantages.
Risks & safety
Teledyne demonstrates a strong margin of safety with solid financial fundamentals, though valuation metrics suggest limited upside at current levels. Financial Strength: • Cash position of $462 million with strong free cash flow generation of $1.1 billion annually • Current ratio of 2.18 indicates strong liquidity • Debt-to-equity ratio of 0.30 represents manageable leverage • No significant solvency concerns with consistent cash flow from operations Valuation Metrics: • P/E ratio of 31 appears elevated for a cyclical industrial technology company • EV/EBITDA of 19.1 suggests premium valuation • Price-to-book ratio of 2.35 indicates shares trade above tangible book value • Graham number of $139 compared to current price of $463 suggests significant overvaluation by traditional value metrics Other Considerations: • Strong recurring revenue characteristics in defense and long-cycle businesses provide some earnings stability • Acquisition integration risks could temporarily impact margins • Exposure to cyclical end markets, particularly industrial automation and commercial aerospace • Currency headwinds from strong dollar affecting international sales
Recent development
Over the past few years, Teledyne has pursued an aggressive acquisition strategy to expand its technological capabilities and market reach. The most significant transaction was the $8.2 billion acquisition of FLIR Systems in 2021, which doubled the size of the company and established it as a leader in thermal imaging technology. This transformative deal brought advanced infrared sensing capabilities and expanded Teledyne's presence in defense, industrial, and commercial markets. Following the FLIR integration, the company has continued its "string of pearls" acquisition approach with smaller, strategic purchases. Recent acquisitions include Micropac Industries (completed early 2025), which strengthens the aerospace and defense electronics portfolio, and Valeport and Adimec, which enhance the instrumentation and digital imaging capabilities respectively. The company is also pursuing the Qioptiq carve-out from Excelitas Technologies, expected to close in Q1 2025, which would add approximately $180 million in annual revenue and further expand optical and photonic capabilities. Operationally, Teledyne has focused on margin improvement and operational efficiency following the FLIR integration. The company achieved significant cost synergies and improved manufacturing processes, with overall margins expanding despite integration costs. Management has emphasized portfolio optimization, divesting non-core assets while investing in high-growth areas like defense technology and advanced sensing systems. The company has also strengthened its defense and space market positioning, capitalizing on increased government spending in these areas. Management has highlighted particular strength in unmanned platforms, space-based sensing systems, and next-generation defense electronics. The marine instrumentation business has shown exceptional growth, with sales increasing over 20% annually driven by offshore energy exploration and scientific research applications. Capital allocation has balanced growth investments with shareholder returns. While acquisitions remain the primary use of capital, the company has also repurchased shares opportunistically and reduced debt levels, bringing leverage down from over 3.8x following the FLIR acquisition to approximately 1.7x currently.
TDY company profile · for informational purposes only — not investment advice.
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