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TDY

Teledyne Technologies Incorporated

TDY

Teledyne Technologies Incorporated • NYSE
$499.52 ▲ 0.37% (+1.84)
Market Cap $23.45 B
52w High $595.99
52w Low $419.00
Dividend Yield 0%
P/E 28.91
Volume 210.71K
Outstanding Shares 46.95M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.54B ▲ $376.7M ▲ $220.7M ▲ 14.336% ▲ $4.71 ▲ $286.4M ▼
Q2-2025 $1.514B ▲ $366.4M ▲ $209.9M ▲ 13.867% ▲ $4.48 ▲ $364.7M ▲
Q1-2025 $1.45B ▼ $360.2M ▼ $188.6M ▼ 13.008% ▼ $4.03 ▼ $340M ▲
Q4-2024 $1.502B ▲ $405.6M ▲ $198.5M ▼ 13.213% ▼ $4.25 ▼ $321M ▼
Q3-2024 $1.444B $348.9M $262M 18.15% $5.62 $347.6M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $528.6M ▲ $15.369B ▲ $4.808B ▲ $10.561B ▲
Q2-2025 $310.9M ▼ $15.135B ▲ $4.752B ▼ $10.377B ▲
Q1-2025 $461.5M ▼ $15.049B ▲ $5.117B ▲ $9.925B ▲
Q4-2024 $649.8M ▲ $14.2B ▼ $4.645B ▼ $9.549B ▼
Q3-2024 $561M $14.531B $4.931B $9.594B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $210.4M ▲ $226.6M ▼ $-30.2M ▲ $-344.4M ▼ $-150.6M ▲ $196.3M ▼
Q1-2025 $188.8M ▼ $242.6M ▼ $-775M ▼ $339.6M ▲ $-188.3M ▼ $224.6M ▼
Q4-2024 $199.1M ▼ $332.4M ▲ $-29M ▼ $-173.4M ▼ $88.8M ▼ $303.4M ▲
Q3-2024 $262.2M ▲ $249.8M ▼ $-21.1M ▲ $-134.5M ▲ $117.8M ▲ $228.7M ▼
Q2-2024 $180.3M $318.7M $-141.2M $-644M $-469.2M $301M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Aerospace and Defense Electronics
Aerospace and Defense Electronics
 $200.00M ▲$240.00M ▲$260.00M ▲$280.00M ▲
Digital Imaging
Digital Imaging
 $820.00M ▲$760.00M ▼$770.00M ▲$790.00M ▲
Engineered Systems
Engineered Systems
 $110.00M ▲$110.00M ▲$110.00M ▲$120.00M ▲
Instrumentation
Instrumentation
 $370.00M ▲$340.00M ▼$370.00M ▲$360.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Teledyne’s income statement shows a business that scaled up sharply a few years ago and has since settled into steadier, moderate growth. Revenue stepped up meaningfully after the FLIR acquisition and has inched higher each year since, rather than surging. Profitability is solid: gross and operating margins have held at healthy levels, suggesting good pricing power and cost control. Net earnings rose strongly after the acquisition and have been generally stable, with a slight softening most recently, which could reflect integration expenses, higher financing costs, or mix shifts. Overall, this looks like a mature, profitable tech-industrial company prioritizing steady performance over rapid top-line expansion.

Balance Sheet

Balance Sheet The balance sheet reflects a sizable, acquisition-driven expansion followed by gradual strengthening. Total assets jumped when FLIR was acquired and have remained broadly stable since, indicating the company is managing its larger scale rather than aggressively piling on more. Debt rose significantly at the time of the deal but has been paid down steadily, lowering financial risk over time. Cash levels are fairly consistent, providing a reasonable liquidity cushion. Shareholders’ equity has grown each year, implying profits are being retained and used to de-lever and reinvest. One watchpoint is that, given the acquisition history, a meaningful portion of assets is likely intangibles, which depend on the lasting value of the acquired businesses.

Cash Flow

Cash Flow Cash generation has improved meaningfully in recent years. Operating cash flow dipped right after the big acquisition but has since recovered strongly, now comfortably covering investment needs. Free cash flow is solid and consistently positive, helped by relatively modest capital spending requirements. This suggests the business is capital-light for its size and can turn a good share of its accounting profits into actual cash. That cash gives management flexibility to keep reducing debt, fund bolt-on deals, or invest in new technologies, depending on priorities and market conditions.

Competitive Edge

Competitive Edge Teledyne occupies a strong niche at the intersection of high-end imaging, sensing, and specialized electronics, rather than competing in broad, commodity tech markets. Its diversification across digital imaging, marine systems, aerospace and defense electronics, and engineered systems spreads risk and creates cross-selling opportunities. The company benefits from deep relationships with government agencies, defense customers, and industrial clients, where reliability and long qualification cycles create high switching costs. Vertical integration and a large portfolio of proprietary technologies further reinforce its position. On the risk side, Teledyne is exposed to government and defense budgets, project timing, and competition from other large defense, industrial, and imaging players, and must keep integrating acquisitions smoothly to avoid operational drag.

Innovation and R&D

Innovation and R&D Innovation is a clear pillar of Teledyne’s strategy. The company is heavily focused on advanced digital imaging, thermal and infrared sensing, marine and subsea systems, and unmanned and autonomous platforms across air, land, and sea. The FLIR acquisition significantly expanded its thermal imaging and unmanned systems capabilities, giving it a leading role in areas like small military drones and thermal cameras used in defense, public safety, and industry. Teledyne also invests in space-ready sensors and environmental monitoring instruments, positioning it in structural growth areas such as New Space and climate-related measurement. Dedicated R&D centers and ongoing product launches suggest a sustained commitment to staying ahead technologically. The main challenge is that these markets evolve quickly, so the company must continuously innovate to maintain its edge, especially against well-funded defense and sensor competitors.

Summary

Teledyne today looks like a scaled, diversified, and profitable technology-industrial platform built through disciplined acquisitions and steady internal innovation. The financial profile shows a significant step-change in size followed by clean-up and gradual strengthening: debt is coming down, equity is building, and cash flow is robust relative to investment needs. Operationally, the company is anchored in specialized, mission-critical niches—advanced imaging, sensing, and unmanned systems—where its technology depth and customer relationships provide meaningful protection from commoditization. Future growth appears tied to long-term themes like automation, defense and security, space, and environmental monitoring. Key things to monitor include the pace of organic growth now that the major acquisition is integrated, ongoing debt reduction, the health of government and defense demand, and Teledyne’s ability to keep its technology and product portfolio at the leading edge.

NEWS

November 14, 2025 · 2:00 AM UTC

Teledyne Space Imaging Announces Availability of Upscreened Sensors for Space: EMs and Evaluation Kits Ready by End of 2025

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November 10, 2025 · 8:00 AM UTC

Teledyne to Participate in the Baird Global Industrial Conference

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November 9, 2025 · 12:00 AM UTC

Teledyne FLIR Defense Names Riyadh-Based Managing Director for Middle East and North Africa

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October 31, 2025 · 9:31 AM UTC

Teledyne Completes Acquisition of TransponderTech from Saab

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October 28, 2025 · 6:15 AM UTC

onsemi's Treo Platform Selected by Teledyne for Advanced Infrared Imaging Design

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