Teledyne Technologies Incorporated (TDY) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-22.5%

$512.11

vs $660.83 price

Levered DCF

$517.65

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

5.69

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	27.34×	26.69×	23.85×	23.73×	42.38×	35.8×	31.28×	22.39×
P/B	2.33×	2.28×	2.29×	2.29×	2.48×	4.46×	4.63×	3.35×
P/S	4×	3.83×	3.75×	3.43×	4.09×	4.66×	3.98×	2.58×
EV / EBITDA	17.96×	18.28×	17.54×	16.55×	22.58×	24.1×	22.01×	15.17×
Gross margin	39.2%	42.9%	43.3%	42.7%	39.9%	38.3%	39.3%	38.3%
Operating margin	18.8%	17.4%	18.4%	17.8%	13.5%	15.6%	15.5%	14.4%
Net margin	14.6%	14.4%	15.7%	14.4%	9.7%	13.0%	12.7%	11.5%
Current ratio	1.64×	2.33×	1.69×	1.85×	1.62×	2.26×	1.72×	1.55×
Debt / equity	0.25×	0.29×	0.35×	0.48×	0.54×	0.24×	0.36×	0.34×
Interest coverage	19.29×	17.08×	13.38×	10.88×	6.88×	31.38×	23.41×	16.34×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.5%	8.6%	9.6%	9.7%	5.8%	12.4%	14.8%	15.0%
Return on invested capital	6.8%	6.7%	7.2%	6.4%	4.0%	9.3%	10.7%	10.9%
Return on assets	5.9%	5.8%	6.1%	5.5%	3.1%	7.9%	8.8%	8.8%
Free cash flow yield	4.4%	5.1%	3.4%	2.1%	3.8%	3.8%	3.1%	4.8%
Earnings yield	3.7%	3.8%	4.2%	4.2%	2.4%	2.8%	3.2%	4.5%
Enterprise value	$26.8B	$23.9B	$23.7B	$22B	$22.5B	$14.5B	$13.3B	$8.1B
Net debt / EBITDA	1.54×	1.64×	1.92×	2.47×	3.64×	0.18×	1.27×	1.14×
Cash conversion cycle (days)	136	134	139	122	123	96	99	98