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Teledyne Technologies key statistics and ratios

In fiscal 2025, Teledyne Technologies had return on equity of 8.9%, an operating margin of 18.8%, debt equal to 23.7% of equity and a current ratio of 1.64. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Jan 20102010Jan 20112011Jan 20122012Dec 20122013Dec 20132014Dec 20142015Jan 20162016Jan 20172017Dec 20172018Dec 20182019Dec 20192020Jan 20212021Jan 20222022Jan 20232023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Gross margin28.7%30.2%33.5%35.2%35.9%37.9%37.9%38.2%37.6%38.3%39.3%38.3%39.9%42.7%43.3%42.9%42.8%43.6%
Operating margin10.4%10.9%11.7%11.4%10.3%12.3%12.3%11.2%12.4%14.4%15.5%15.6%13.5%17.8%18.4%17.4%18.8%20.0%
Net margin6.9%7.3%13.1%7.7%7.9%9.1%8.5%8.9%8.7%11.5%12.7%13.0%9.7%14.4%15.7%14.4%14.6%15.8%
Free-cash-flow margin7.3%6.7%9.0%5.8%5.6%10.2%7.1%10.7%12.1%12.4%12.4%17.7%15.7%7.2%12.8%19.5%17.6%17.6%
Return on equity17.0%16.6%28.9%15.4%14.1%37.9%38.4%13.2%13.0%16.0%16.3%13.5%8.2%10.0%10.2%8.7%8.9%9.5%
Return on assets8.0%8.1%15.1%7.8%7.2%7.8%7.0%7.0%6.9%8.7%9.6%8.3%4.6%5.5%6.1%5.7%6.1%6.7%
Asset turnover1.161.101.151.010.910.850.820.780.790.760.750.640.470.380.390.390.410.42
Current ratio1.741.901.801.831.911.752.101.691.871.551.722.261.621.851.692.331.642.31
Debt to equity37.8%34.0%31.9%48.6%37.5%—58.1%39.7%55.1%33.6%31.4%24.1%54.2%48.3%35.4%27.9%23.7%18.2%
Interest cover (operating income ÷ interest)33.6x25.9x13.6x13.4x11.5x15.4x11.7x10.2x9.1x14.3x23.4x31.4x6.9x10.9x13.4x17.1x19.3x26.9x
Effective tax rate30.0%30.9%32.8%28.7%17.6%23.6%24.3%20.9%20.8%15.3%15.1%14.4%16.6%13.1%7.5%12.5%18.2%19.0%
R&D as % of revenue—————————————6.5%6.3%5.2%5.2%5.1%
SG&A as % of revenue18.4%19.3%21.8%23.7%25.6%25.6%25.6%27.0%25.3%23.9%22.6%21.5%23.1%14.7%15.1%15.9%15.2%15.1%
Capital spending as % of revenue2.0%1.9%2.1%3.1%3.1%1.8%2.0%4.1%2.2%3.0%2.8%2.3%2.2%1.7%2.0%1.5%1.9%2.0%
Free cash flow ÷ net income107.1%92.0%68.5%75.5%70.6%112.3%83.4%120.2%139.2%107.9%97.9%136.2%162.4%50.0%81.4%135.3%120.0%111.8%
Dividends and buybacks ÷ free cash flow0.7%—20.0%0.0%0.0%60.0%149.4%0.0%0.0%————0.0%0.0%31.9%37.5%—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

6 of 7 checks passed · September 27, 2026
What it owns · $15.6bn
Short-term assets $3.5bnLonger-term assets $12.0bn
What it owes, and who funded it · $15.6bn
Short-term liabilities $1.5bnLonger-term liabilities $2.9bnShareholders' equity $11.1bn
  • Short-term assets cover short-term liabilities $3.5bn of assets due within a year against $1.5bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.5bn short-term assets against $2.9bn of longer-dated liabilities.
  • More cash than debt $562m of cash against $2.0bn of debt.
  • Debt below 40% of shareholders' equity Debt is 18% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 49% to 18% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.3bn of operating cash flow against $2.0bn of debt.
  • Operating profit covers interest at least five times over Operating income of $1.3bn against $48m of interest.

From Teledyne Technologies's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

66 /100

Moderate moat

How hard Teledyne Technologies's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 13 / 20

    Cash operating profit has been a median 10.2% of total assets over 10 years.

  • Pricing power 14 / 20

    Gross margin has been a median 40.8%, moving by 2.2 percentage points (standard deviation) across 10 years.

  • Durability 14 / 20

    Operating margin has been a median 15.9%; its worst year was 12.1%.

  • Cash conversion 17 / 20

    Free cash flow was positive in 10 of 10 years, at a median 14.7% of revenue.

  • Discipline 13 / 20

    The diluted share count rose 12.2% over five years; stock-based pay has been a median 0.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (71 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Teledyne Technologies's SEC filings (10-K and 10-Q), retrieved October 24, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Teledyne Technologies.