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Teledyne Technologies Incorporated
S&P 500
🏹 Trader: 🎯 Near 52W High | BRS 64 Forming View all →
$29.9B
Market Cap
27.4
P/E
2.68
PEG
7.8%
ROCE
8.9%
ROE
0.19
D/E
18.8%
OPM
-9.6%
% from 52W High
59
α RS
🔍 TDY is showing a high-conviction setup because it matches 3 of 37 tracked screener presets, an ECS of 66.4 last quarter, and it's within 9.6% of its 52-week high. Net: Broad signal stack, not a recommendation. ? Conviction ECS 52W High
Sources
Conviction 3/37 · ECS 66.4 · 9.6% from 52W high
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🌏 Global Investor Returns
Currency-adjusted total returns for TDY including FX impact
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📈 Price History
Ratio Health
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About

Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets in the United States, Europe, Asia, and internationally.

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📈 Growth Pattern
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⭐ Superinvestors Holding TDY
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Manager Shares Value % of Fund Period
Cathie Wood ARK Investment Management 51.4K $31.1M 0.24% Mar 2026
Jim Simons Renaissance Technologies LLC 5.8K $3.5M 0.01% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$1.66B
+9.8% YoY
Operating Income (GAAP)
$0.33B
+19.4% YoY
Operating Margin
20.0%
+1.6pp YoY
Net Income
$0.25B
+19.9% YoY
Non-GAAP EPS
$6.28
+20.8% YoY
What Went Right
  • Record quarterly orders, sales and operating profit; sales rose 9.8% to $1,662.5M and non-GAAP EPS rose 20.8% to $6.28.
  • Digital Imaging sales grew 12.7%, with infrared space/unmanned/counter-UAS revenues up more than 20%, and segment margin expanded 353 bps to 25%.
  • Book-to-bill was 1.23x (Digital Imaging >1.4x), funded backlog reached ~$5.0B, and free cash flow was $284.7M.
What to Watch
  • Instrumentation segment margin declined year-over-year due to product mix, with faster growth in lower-margin marine/AUV sales.
  • Management flagged >$1B of revenue exposed to germanium and rare-earth magnet supply chains, plus uncertainty around new tariff proposals.
  • M&A price competition remains elevated, with Teledyne unwilling to match bids running 30-33% above its own; Q4 also has tougher prior-year comps in Digital Imaging.
Management Guidance
  • Q3 2026: GAAP EPS $5.10-$5.25; non-GAAP EPS $6.05-$6.15.
  • FY2026 revenue now ~$6.53B, up ~7% and ~$120M above the April forecast; GAAP EPS $20.73-$20.99 and non-GAAP EPS $24.45-$24.65.
  • Management expects defense sales up high-single-digit with pockets of double-digit growth, and the commercial portfolio collectively up mid-single-digit for FY2026.
Investor Lens
The thesis is stronger after this call. Teledyne delivered record orders, sales and operating profit and raised full-year revenue by ~$120M and EPS by $0.55 at the midpoint. Growth is broad-based across defense and commercial, with space, unmanned and test/measurement inflecting positively. The ~$5B backlog, 1.1x leverage and disciplined M&A posture leave ample room for further capital deployment, though supply-chain and tariff risks remain the key offsets.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Record Q2: sales +9.8%, EPS +20.8%; FY raised.
Revenue
Q2 revenue rose 9.8% to $1,662.5M, with Digital Imaging up 12.7%, Instrumentation up 5.5%, Aerospace & Defense Electronics up 8.2% and Engineered Systems up 8.4%. Acquisitions contributed $12.2M of incremental sales, with organic growth strongest in Digital Imaging.
Profitability
Net income attributable to Teledyne was $251.7M, up 19.9% year-over-year. GAAP diluted EPS was $5.37 versus $4.43, and non-GAAP EPS rose 20.8% to $6.28.
Margins
GAAP operating margin expanded to 20.0% from 18.4%, while non-GAAP operating margin rose to 23.4% from 22.2%. Digital Imaging margin improved 353 bps to 25% partly on tariff refunds, but Instrumentation margin declined on unfavorable product mix.
Balance Sheet
Quarter-end net debt was $1.69B, with debt of ~$2.03B and cash of $340M; leverage was 1.1x. Operating cash flow was $315.2M and free cash flow was $284.7M, with $450M of gross debt repaid during the quarter.
Key Risks
Management highlighted supply-chain exposure for >$1B of revenue tied to germanium and rare-earth magnets and continued tariff uncertainty. Instrumentation margins remain pressured by mix, and M&A competition is intense, with Teledyne unwilling to overpay.
Outlook
FY2026 revenue was raised by ~$120M to ~$6.53B, and full-year non-GAAP EPS was raised to $24.45-$24.65. Q3 non-GAAP EPS is guided to $6.05-$6.15.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-22
Record Q2 results with sales up 9.8% and non-GAAP earnings up 20.8% year-over-year, driven by strong Digital Imaging and broad-based growth. 2026 outlook raised for revenue and EPS, with robust defense and commercial demand, ample capital for acquisitions, and continued margin expansion.
Q1 2026 Q1 2026 2026-04-22
Record Q1 results with 7.6% sales and 17.2% non-GAAP EPS growth, led by Digital Imaging and Aerospace & Defense. Full-year guidance raised, with strong defense demand, robust backlog, and increased investment in R&D and capacity.
Q4 2025 Q4 2025 2026-01-21
Q4 and full-year 2025 saw record sales, earnings, and margins, driven by strong defense and recovering commercial markets. 2026 guidance projects continued growth, with robust order backlog, healthy cash flow, and a focus on acquisitions and operational excellence.
Q3 2025 Q3 2025 2025-10-22
Record Q3 sales, non-GAAP EPS, and free cash flow were achieved, with strong growth in defense and digital imaging segments. Full-year guidance was raised, and robust backlog and contract opportunities support a positive outlook despite minor risks from the U.S. shutdown and China.
Q2 2025 Q2 2025 2025-07-23
Record quarterly sales and double-digit EPS growth were driven by strength in energy, defense, and unmanned systems, with robust order activity and improving margins in key segments. Management remains cautious on short-cycle demand due to trade policy uncertainty but raised full-year guidance.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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