TDYTELEDYNE TECHNOLOGIES INC

Search, Detection, Navigation, Guidance, Aeronautical Sys

Revenue: $6.1B; 7.9% YoY
Operating margin: 18.8%; 7.8% YoY
EBITDA: $1.5B; 14% YoY
Market cap: $30.4B
Employees: 15,800; $387K revenue each
Net debt / EBITDA: 0.0×; $50M net debt
AI in 10-K: 4.9; mentions per 10K words

Takeover score 2 of 13

Fixable underperformance 1 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
133% of net income
Cash flow under 80% of net income
Dilutive SBCNo
0% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
34% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyYes
56% of assets
Over 40% of assets
Shareholder dissentNo
96% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$387K · 50th pct
Bottom quartile of its SIC industry
Quiet on AINo
4.9 per 10K words · 82nd pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
0.0× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$30.4B market cap
Market cap $500M–$5B

Catalysts 1 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingYes
−$12M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$3.1B	$4.6B	$5.6B	$5.7B	$6.1B	7.9%
Operating income	$480M	$624M	$1.0B	$989M	$1.1B	16%
Net income	$402M	$445M	$886M	$819M	$895M	9.2%
Operating cash flow	$619M	$825M	$836M	$1.2B	$1.2B	0.1%
Capex	$71M	$102M	$115M	$84M	$117M	40%
Buybacks	—	—	$0	$354M	$403M	14%

Deal filings

Filed	Form	Acquirer	Price	Premium
Apr 12, 2021	DEFM14A	—	$28.00	39%

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $12M · 11
Net: −$12M

Pay vs performance

No pay-versus-performance disclosure yet.