# Teledyne Technologies Incorporated (TDY)

> Source: Nexqual · https://nexqual.com/TDY · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Teledyne Technologies Incorporated (TDY), nexqual.com/TDY" · informational, not investment advice.

**Price:** USD 620.47 (-1.53% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 630.1 · day 610.1–634.72 · 52w 483.02–697.67 · market cap $28.8B · NYQ

## Key facts
- Last four reported quarters (through Jun 28, 2026): revenue $6.37B, net income $975M (15.3% margin), free cash flow $1.14B (SEC filings).
- Valuation: P/E 29.5x (avg 26.1x at the last 3 fiscal year-ends), EV/EBITDA 19.3x, net debt $1.69B.
- 3 of 80 tracked superinvestors hold TDY (13F, Q2 2026): 0 new, 3 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $4.7M; 2 not under a Rule 10b5-1 plan ($4.7M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (12 analysts), mean target USD 767.5 (range 640–915).
- Total return with dividends: 1Y +15.6% vs S&P 500 +14.9%; 5Y +39.1% vs S&P 500 +80.3%.
- Next earnings: 2027-01-20, EPS estimate USD 6.65, revenue estimate $1.72B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $4.61B | $5.46B | $5.64B | $5.67B | $6.12B | $6.37B |
| Gross profit | $1.84B | $2.33B | $2.44B | $2.43B | $2.61B | — |
| Operating income | $624M | $972M | $1.03B | $989M | $1.15B | $1.24B |
| Net income | $445M | $789M | $886M | $819M | $895M | $975M |
| EPS (diluted) | $10.05 | $16.53 | $18.49 | $17.21 | $18.88 | — |
| Free cash flow | $723M | $394M | $721M | $1.11B | $1.07B | $1.14B |
| Gross margin | 39.9% | 42.7% | 43.3% | 42.9% | 42.8% | — |
| Operating margin | 13.5% | 17.8% | 18.4% | 17.4% | 18.8% | 19.4% |
| Net margin | 9.7% | 14.4% | 15.7% | 14.4% | 14.6% | 15.3% |
| Revenue growth | +49.5% | +18.3% | +3.2% | +0.6% | +7.9% | — |
| Cash + short-term investments | $475M | $638M | $648M | $650M | $352M | — |
| Total debt | $4.10B | $3.92B | $3.24B | $2.65B | $2.48B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 28, 2026)
P/E 29.5x · P/S 4.5x · EV/EBITDA 19.3x · EV/Sales 4.8x · P/FCF 25.2x · P/B 2.6x · FCF yield 3.97% · Earnings yield 3.39% · Net debt $1.69B · EV $30.4B
P/E at fiscal year-ends: Dec 2025 27.1x, Dec 2024 27.0x, Dec 2023 24.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold TDY. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Dodge & Cox Funds | Dodge & Cox | 0.56% | $1.08B | Added +0.5% |
| Yacktman Asset Management |  | 0.02% | $1.8M | Added +8.0% |
| First Eagle Investment | First Eagle Investment Management | <0.01% | $22K | Added +371.4% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-12 | Von Schack Wesley W | Director | 468 | $321K | 4.1% | No | Too little history (no open-market trades in 2025) |
| 2026-08-12 | Lorne Simon M | Director | 6,449 | $4.4M | 10.4% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 12 analysts; mean target USD 767.5 (low 640, high 915).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Stifel | Target raised | Buy | $775 → $795 |
| 2026-09-15 | Needham | Target raised | Buy | $750 → $760 |
| 2026-08-13 | Morgan Stanley | Target raised | Equal-Weight | $680 → $715 |
| 2026-07-24 | Barclays | Target raised | Equal-Weight | $614 → $640 |
| 2026-07-23 | Stifel | Target raised | Buy | $750 → $775 |
| 2026-07-23 | Needham | Target raised | Buy | $735 → $750 |
| 2026-07-01 | Citigroup | Target raised | Neutral | $677 → $680 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +15.6% | +39.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +15.7% | +6.8% |
| Volatility (annualized) | 25.4% | 23.3% |
| Max drawdown | -15.2% (Mar 2026→Mar 2026) | -31.1% (Apr 2022→Oct 2022) |

## Peers (Scientific & Technical Instruments)
COHR (Coherent Corp.) USD 207.82 -12.51% · FTV (Fortive Corporation) USD 60.05 +2.40% · KEYS (Keysight Technologies Inc.) USD 311.52 -8.74% · TRMB (Trimble Inc.) USD 64.01 +2.27% · GRMN (Garmin Ltd.) USD 295.4 +1.47% · MKSI (MKS Inc.) USD 196.11 -9.25%

## More
Full page: https://nexqual.com/TDY · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-28)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Digital Imaging | $868.7M | 52.3% | +12.7% | $170.2M | 19.6% |
| Instrumentation | $387.8M | 23.3% | +5.5% | $101.4M | 26.1% |
| Aerospace and Defense Electronics | $286.4M | 17.2% | +8.2% | $74.5M | 26.0% |
| Engineered Systems | $119.6M | 7.2% | +8.4% | $15.1M | 12.6% |
| Corporate costs (not allocated) | — | — | — | -$28.0M | — |
| Total revenue | $1.66B | 100% | — | $361.2M | 21.7% |

## Revenue by product line (quarter ended 2026-06-28)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Marine Instrumentation | $181.2M | 10.9% | +5.7% |
| Environmental Instrumentation | $127.1M | 7.6% | +6.0% |
| Test & Measurement Instrumentation | $79.5M | 4.8% | +4.3% |
| Total revenue | $1.66B | 100% | — |
The lines above cover 23.3% of total revenue.

## Revenue by region (quarter ended 2026-06-28)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $844.4M | 50.8% | +10.0% |
| Europe | $450.5M | 27.1% | +14.9% |
| Asia | $223.0M | 13.4% | +2.4% |
| All Other | $144.6M | 8.7% | +6.0% |
| Total revenue | $1.66B | 100% | — |

## Company outlook (8-K filed 2026-10-21)

- "Based on its current outlook, the company's management believes that fourth quarter 2026 GAAP diluted earnings per share will be in the range of $5.68 to $5.83, and full year 2026 GAAP diluted earnings per share will be in the range of $21.71 to $21.87."
- "The non-GAAP outlook excludes certain transaction and integration costs and acquired intangible asset amortization."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $6.65 | $6.51 | +2.2% | $1.72B | 11 |
| Next quarter (ends 2027-03-31) | $6.17 | $6.07 | +1.6% | $1.66B | 9 |
| Current fiscal year (ends 2026-12-31) | $25.25 | $24.63 | +2.5% | $6.63B | 11 |
| Next fiscal year (ends 2027-12-31) | $27.32 | $26.54 | +3.0% | $7.00B | 11 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-03-19 (includes earnings 2027-01-20): ±14.3%; earnings reaction alone ±5.5%; last 8 reports averaged ±3.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 26.8% | ±6.1% |
| 2026-12-18 | 56 | 27.0% | ±8.5% |
| 2027-01-15 | 84 | 25.9% | ±10.0% |
| 2027-03-19 | 147 | 28.0% | ±14.3% |
| 2027-05-21 | 210 | 28.7% | ±17.5% |
| 2027-06-17 | 237 | 28.4% | ±18.5% |