Teledyne Technologies
TDY on NYSE. Teledyne Technologies sells electronics, sensors, cameras, and instruments to aerospace, defense, and industrial customers. Market value $28.7bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
See cheaper Technology stocks on the list
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $3.96 of spare cash in the past 12 months. A savings account pays about $4.
You pay 24.6 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 7 cents a year. Above 10 is good.
Quality score: 89 of 100. Price score: 50 of 100. Our list needs 70 on quality and 60 on price.
$622.22 a share, 29% above its 1-year low
Over the past year the price has ranged from $483.02 to $697.67.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $4.6bn | $5.5bn | $5.6bn | $5.7bn | $6.1bn |
| Operating margin | |||||
| Operating margin | 13.5% | 17.8% | 18.4% | 17.4% | 18.8% |
| Debt to equity | |||||
| Debt to equity | 0.54 | 0.48 | 0.35 | 0.28 | 0.24 |
| Shares outstanding | |||||
| Shares outstanding | 0.05bn | 0.05bn | 0.05bn | 0.05bn | 0.05bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)7 of 9
- Profit backed by cash (accruals)Yes
- Debt0.24× equity
- Revenue growth, five yearsStrong, 14.7% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $1.7 billion last quarter, up 10% on a year ago.
- Profit: $252 million, up 20% on a year ago.
- It keeps 19 cents of each $1 of sales as operating profit, up from 18 cents a year earlier.
- Spare cash over the past 12 months: $1.1 billion, up from $953 million.
- 1% fewer shares than a year ago. Each share owns a bit more of the company.
- Debt is $1.7 billion more than cash, down from $2.3 billion a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $1.4bn |
| December 2024 | $1.5bn |
| March 2025 | $1.4bn |
| June 2025 | $1.5bn |
| September 2025 | $1.5bn |
| December 2025 | $1.6bn |
| March 2026 | $1.6bn |
| June 2026 | $1.7bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $262m |
| December 2024 | $199m |
| March 2025 | $189m |
| June 2025 | $210m |
| September 2025 | $221m |
| December 2025 | $276m |
| March 2026 | $227m |
| June 2026 | $252m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 21 October 2026
- Last annual report (10-K)
- 20 February 2026
- Next quarterly (estimated, 10-Q)
- 23 October 2026
Who owns it
11 long-term investors we follow own it, unchanged from 11 last quarter. 885 funds in all.
- Dodge & CoxDodge & Cox investment committee
- Value
- $1.1bn
- Share of fund
- 0.6%
- Heartland AdvisorsBill Nasgovitz
- Value
- $28m
- Share of fund
- 1.2%
- Royce & AssociatesChuck Royce
- Value
- $12m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Dodge & CoxDodge & Cox investment committee | $1.1bn | 0.6% | |
| Aristotle Capital ManagementHoward Gleicher | $1.0bn | 2.1% | Cut |
| Findlay Park PartnersFindlay Park team | $277m | 3.7% | Added |
| Select Equity GroupGeorge Loening | $98m | 0.5% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $44m | 0.1% | Cut |
| Diamond Hill Capital ManagementRic Dillon (founder) | $29m | 0.2% | Cut |
| Heartland AdvisorsBill Nasgovitz | $28m | 1.2% | |
| Royce & AssociatesChuck Royce | $12m | <0.1% | |
| First Manhattan Co.First Manhattan partners | $3m | <0.1% | Cut |
| Yacktman Asset ManagementStephen Yacktman | $2m | <0.1% | Added |
| First Eagle Investment ManagementMatthew McLennan | $44,014 | <0.1% | Added |
Largest holders overall
- BlackRock$2.8bn
- Price T Rowe Associates$2.1bnCut
- Vanguard Capital Management$2.0bn
- Vanguard Portfolio Management$1.6bn
- State Street$1.5bnAdded
- FIL$1.2bnAdded
- Dodge & Cox$1.1bn
- Jupiter Topco$1.0bn
- Aristotle Capital Management$1.0bnCut
- Geode Capital Management$878m
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- Vanguard Capital ManagementPassive investor7.5%Since 31 March 2026
- T. Rowe Price Associates, Inc.Passive investor6.7%Since 30 June 2025
- Vanguard Portfolio ManagementPassive investor5.1%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Vanguard Capital Management Passive investor | 7.5% | 31 March 2026 | |
T. Rowe Price Associates, Inc. Passive investor | 6.7% | 30 June 2025 | |
Vanguard Portfolio Management Passive investor | 5.1% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 4 sold $12m.
- VON SCHACK WESLEY WDirectorSold
- Date
- 12 August 2026
- Shares
- 468
- Price
- $686.63
- Value
- $321,343
- LORNE SIMON MDirectorSold
- Date
- 12 August 2026
- Shares
- 6,449
- Price
- $680.34
- Value
- $4m
- VanWees JasonVice ChairmanSold
- Date
- 3 February 2026
- Shares
- 7,500
- Price
- $630.77
- Value
- $5m
- SMITH MICHAEL TDirectorSold
- Date
- 29 January 2026
- Shares
- 2,469
- Price
- $621.00
- Value
- $2m
- SMITH MICHAEL TDirectorSold
- Date
- 28 January 2026
- Shares
- 1,531
- Price
- $621.00
- Value
- $950,751
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 12 August 2026 | VON SCHACK WESLEY W Director | Sold | 468 | $686.63 | $321,343 |
| 12 August 2026 | LORNE SIMON M Director | Sold | 6,449 | $680.34 | $4m |
| 3 February 2026 | VanWees Jason Vice Chairman | Sold | 7,500 | $630.77 | $5m |
| 29 January 2026 | SMITH MICHAEL T Director | Sold | 2,469 | $621.00 | $2m |
| 28 January 2026 | SMITH MICHAEL T Director | Sold | 1,531 | $621.00 | $950,751 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.