Snapshot
Teledyne Technologies Inc reported $1.61B of revenue in Q4 2025, up 7.3% year over year, with diluted EPS of $5.84 and an operating margin of 20.4%.
- Revenue
- $1.61B
- YoY growth
- +7.3%
- Diluted EPS
- $5.84
- Operating margin
- 20.4%
$1.61B
Revenue
+7.3%
YoY growth
$5.84
Diluted EPS
20.4%
Operating margin
01 Key takeaways
What management said
- •We concluded 2025 with the largest quarterly orders, sales, and non-GAAP earnings, as well as operating margin in the company's history.
- •Getting back to 2025, fourth quarter sales increased 7.3% from last year, while non-GAAP earnings increased 14.1%.
- •For the full year, sales increased 7.9%, and non-GAAP earnings increased 11.5%.
- •In digital imaging, Teledyne FLIR performed very well, with particular strength in unmanned and other defense surveillance systems, while within marine instrumentation, we achieved record sales of autonomous underwater vehicles.
- •In terms of capital deployment, 2025 was our second largest year in history, with over $850 million spent on acquisitions throughout the year and $400 million for stock repurchases within the fourth quarter.
- •Nevertheless, having generated approximately $1.1 billion in free cash flow for two consecutive years, we ended 2025 with a leverage ratio of just 1.4 times.
- •Last week, we continued our String of Pearls strategy with the acquisition of DD-Scientific, a UK-based manufacturer of high-performance electrochemical gas sensors.
- •Gas sensors are not only a critical technology component used in our environmental instruments, but such sensors are also an attractive consumable business with high recurring revenue.
- •Turning to 2026, while it's still early, we are reasonably confident in our current outlook for both revenue and earnings.
- •That is, we believe full year 2026 revenue will be approximately $6.37 billion, and non-GAAP earnings at the midpoint will be approximately $23.65, both of which are consistent with current consensus estimates.
- •As in 2024 and 2025, we expect normal seasonality in 2026, with approximately 48% of sales and 46% of earnings in the first half of the year.
- •In the digital imaging segment, fourth quarter sales increased 3.4% despite a tough comparison, primarily due to strong sales from Teledyne FLIR.
SourcesCompany financials · earnings call
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