Teledyne Technologies
TDY · NYSESearch, Detection, Navigation, Guidance, Aeronautical Sys · Fiscal year ends Jan 3
Teledyne Technologies reported revenue of $6.1B in the fiscal year ended Dec 2025, up 7.9% from the year before. Operating income was $1.1B, an operating margin of 18.8%, and net income was $895M. Operating cash flow of $1.2B less capital expenditure of $117M left free cash flow of $1.1B. Net debt was $2.1B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jan 2022 | Jan 2023 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $4.6B | $5.5B | $5.6B | $5.7B | $6.1B |
| Cost of revenue | $2.8B | $3.1B | $3.2B | $3.2B | $3.5B |
| Gross profit | $1.8B | $2.3B | $2.4B | $2.4B | $2.6B |
| Research & development | – | $352M | $356M | $293M | $317M |
| Selling, general & admin | $1.1B | $804M | $852M | $903M | $931M |
| Operating income | $624M | $972M | $1B | $989M | $1.1B |
| Interest expense | $91M | $89M | $77M | $58M | $60M |
| Pre-tax income | $534M | $908M | $959M | $938M | $1.1B |
| Income tax | $89M | $119M | $72M | $117M | $199M |
| Net income | $445M | $789M | $886M | $819M | $895M |
| Diluted EPS | 10.05 | 16.53 | 18.49 | 17.21 | 18.88 |
| Diluted shares | 44M | 48M | 48M | 48M | 47M |
Balance sheet
| Fiscal year | Jan 2022 | Jan 2023 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $475M | $638M | $648M | $650M | $352M |
| Receivables | $768M | $884M | $900M | $901M | $992M |
| Inventory | $753M | $891M | $918M | $914M | $1B |
| Current assets | $2.4B | $2.8B | $3B | $2.9B | $3.1B |
| Net PP&E | $828M | $770M | $777M | $745M | $839M |
| Goodwill | $8B | $7.9B | $8B | $8B | $8.7B |
| Total assets | $14.4B | $14.4B | $14.5B | $14.2B | $15.3B |
| Payables | $470M | $506M | $385M | $416M | $487M |
| Deferred revenue | $186M | $188M | $241M | $313M | $370M |
| Current liabilities | $1.5B | $1.5B | $1.8B | $1.3B | $1.9B |
| Short-term debt | $0 | $300M | $600M | $300,000 | $450M |
| Long-term debt | $4.1B | $3.6B | $2.6B | $2.6B | $2B |
| Total liabilities | $6.8B | $6.2B | $5.3B | $4.6B | $4.8B |
| Shareholders' equity | $7.6B | $8.2B | $9.2B | $9.5B | $10.5B |
| Backlog (remaining obligations) | $2.9B | $3.1B | $3.1B | $3.7B | $4.6B |
Cash flow
| Fiscal year | Jan 2022 | Jan 2023 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $825M | $487M | $836M | $1.2B | $1.2B |
| Capital expenditure | $102M | $93M | $115M | $84M | $117M |
| Free cash flow | $723M | $394M | $721M | $1.1B | $1.1B |
| Depreciation & amortisation | $372M | $332M | $316M | $310M | $336M |
| Acquisitions | $3.7B | $100M | $78M | $124M | $821M |
| Share buybacks | – | $0 | $0 | $354M | $403M |
Key ratios
| Fiscal year | Jan 2022 | Jan 2023 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 18.3% | 3.2% | 0.6% | 7.9% |
| Operating income growth (YoY) | – | 55.7% | 6.4% | −4.4% | 16.2% |
| EPS growth (YoY) | – | 64.5% | 11.9% | −6.9% | 9.7% |
| Gross margin | 39.9% | 42.7% | 43.3% | 42.9% | 42.8% |
| Operating margin | 13.5% | 17.8% | 18.4% | 17.4% | 18.8% |
| Net margin | 9.7% | 14.4% | 15.7% | 14.4% | 14.6% |
| Return on equityBlank when equity is negative | 5.8% | 9.7% | 9.6% | 8.6% | 8.5% |
| ROCEEBIT ÷ (assets − current liabilities) | 4.8% | 7.6% | 8.1% | 7.6% | 8.6% |
| Free cash flow margin | 15.7% | 7.2% | 12.8% | 19.5% | 17.6% |
| Cash conversion (CFO ÷ net income) | 1.85x | 0.62x | 0.94x | 1.45x | 1.33x |
| Receivable days | 61 | 59 | 58 | 58 | 59 |
| Inventory days | 99 | 104 | 105 | 103 | 109 |
| Payable days | 62 | 59 | 44 | 47 | 51 |
| Interest cover | 6.88x | 10.9x | 13.4x | 17.1x | 19.3x |
| Debt ÷ equity | 0.54x | 0.48x | 0.35x | 0.28x | 0.24x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $3.6B | $3.3B | $2.6B | $2B | $2.1B |
| Current ratio | 1.62x | 1.85x | 1.69x | 2.33x | 1.64x |
Recent filings
More in Search, Detection, Navigation, Guidance, Aeronautical Sys
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.