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Teledyne Technologies

NYSE:TDY
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TDY
NYSE
$9B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The last earnings update was 48 days ago. More info.


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TDY Share Price and Events
7 Day Returns
1.3%
NYSE:TDY
-2.3%
US Aerospace & Defense
0.5%
US Market
1 Year Returns
24.3%
NYSE:TDY
0.8%
US Aerospace & Defense
0.8%
US Market
TDY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Teledyne Technologies (TDY) 1.3% 5.8% 8.5% 24.3% 157.8% 160.3%
US Aerospace & Defense -2.3% 0.3% 6.8% 0.8% 41.6% 58.8%
US Market 0.5% -0.1% 1% 0.8% 37.5% 37.5%
1 Year Return vs Industry and Market
  • TDY outperformed the Aerospace & Defense industry which returned 0.8% over the past year.
  • TDY outperformed the Market in United States of America which returned 0.8% over the past year.
Price Volatility
TDY
Industry
5yr Volatility vs Market

TDY Value

 Is Teledyne Technologies undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Teledyne Technologies to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Teledyne Technologies.

NYSE:TDY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:TDY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.875 (1 + (1- 21%) (10.84%))
0.966
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.966 * 5.96%)
8.49%

Discounted Cash Flow Calculation for NYSE:TDY using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Teledyne Technologies is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:TDY DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.49%)
2019 377.80 Analyst x1 348.24
2020 419.07 Analyst x3 356.06
2021 462.60 Analyst x3 362.29
2022 523.00 Analyst x1 377.55
2023 562.00 Analyst x1 373.96
2024 594.90 Est @ 5.85% 364.89
2025 624.16 Est @ 4.92% 352.88
2026 650.75 Est @ 4.26% 339.13
2027 675.49 Est @ 3.8% 324.48
2028 699.00 Est @ 3.48% 309.50
Present value of next 10 years cash flows $3,508.99
NYSE:TDY DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $699.00 × (1 + 2.73%) ÷ (8.49% – 2.73%)
$12,471.34
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $12,471.34 ÷ (1 + 8.49%)10
$5,522.06
NYSE:TDY Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,508.99 + $5,522.06
$9,031.06
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $9,031.06 / 36.24
$249.23
NYSE:TDY Discount to Share Price
Calculation Result
Value per share (USD) From above. $249.23
Current discount Discount to share price of $254.72
= -1 x ($254.72 - $249.23) / $249.23
-2.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Teledyne Technologies is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Teledyne Technologies's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Teledyne Technologies's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:TDY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $9.54
NYSE:TDY Share Price ** NYSE (2019-06-14) in USD $254.72
United States of America Aerospace & Defense Industry PE Ratio Median Figure of 38 Publicly-Listed Aerospace & Defense Companies 22.79x
United States of America Market PE Ratio Median Figure of 3,094 Publicly-Listed Companies 17.69x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Teledyne Technologies.

NYSE:TDY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:TDY Share Price ÷ EPS (both in USD)

= 254.72 ÷ 9.54

26.71x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Teledyne Technologies is overvalued based on earnings compared to the US Aerospace & Defense industry average.
  • Teledyne Technologies is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Teledyne Technologies's expected growth come at a high price?
Raw Data
NYSE:TDY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 26.71x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
7.9%per year
United States of America Aerospace & Defense Industry PEG Ratio Median Figure of 33 Publicly-Listed Aerospace & Defense Companies 1.92x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

NYSE:TDY PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 26.71x ÷ 7.9%

3.4x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Teledyne Technologies is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Teledyne Technologies's assets?
Raw Data
NYSE:TDY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $64.84
NYSE:TDY Share Price * NYSE (2019-06-14) in USD $254.72
United States of America Aerospace & Defense Industry PB Ratio Median Figure of 55 Publicly-Listed Aerospace & Defense Companies 2.69x
United States of America Market PB Ratio Median Figure of 5,244 Publicly-Listed Companies 1.79x
NYSE:TDY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:TDY Share Price ÷ Book Value per Share (both in USD)

= 254.72 ÷ 64.84

3.93x

* Primary Listing of Teledyne Technologies.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Teledyne Technologies is overvalued based on assets compared to the US Aerospace & Defense industry average.
X
Value checks
We assess Teledyne Technologies's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. Teledyne Technologies has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

TDY Future Performance

 How is Teledyne Technologies expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Teledyne Technologies expected to grow at an attractive rate?
  • Teledyne Technologies's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Teledyne Technologies's earnings growth is positive but not above the United States of America market average.
  • Teledyne Technologies's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:TDY Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:TDY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 7.9%
NYSE:TDY Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 4.4%
United States of America Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 10.6%
United States of America Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 5.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:TDY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:TDY Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 3,359 553 422 2
2020-12-31 3,239 506 386 5
2019-12-31 3,105 469 355 5
NYSE:TDY Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 2,951 455 343
2018-12-30 2,902 447 334
2018-09-30 2,858 448 310
2018-07-01 2,795 414 289
2018-04-01 2,733 393 263
2017-12-31 2,604 375 227
2017-10-01 2,452 315 213
2017-07-02 2,317 305 196
2017-04-02 2,186 301 182
2017-01-01 2,150 317 191
2016-10-02 2,208 312 192
2016-07-03 2,233 287 189
2016-04-03 2,267 263 191

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Teledyne Technologies's earnings are expected to grow by 7.9% yearly, however this is not considered high growth (20% yearly).
  • Teledyne Technologies's revenue is expected to grow by 4.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:TDY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Teledyne Technologies Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:TDY Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 11.24 11.24 11.24 1.00
2020-12-31 10.30 10.90 10.00 5.00
2019-12-31 9.53 9.58 9.47 4.00
NYSE:TDY Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 9.54
2018-12-30 9.32
2018-09-30 8.72
2018-07-01 8.15
2018-04-01 7.45
2017-12-31 6.45
2017-10-01 6.05
2017-07-02 5.59
2017-04-02 5.25
2017-01-01 5.52
2016-10-02 5.53
2016-07-03 5.45
2016-04-03 5.46

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Teledyne Technologies is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Teledyne Technologies's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Teledyne Technologies has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

TDY Past Performance

  How has Teledyne Technologies performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Teledyne Technologies's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Teledyne Technologies's year on year earnings growth rate has been positive over the past 5 years.
  • Teledyne Technologies's 1-year earnings growth exceeds its 5-year average (30.4% vs 10%)
  • Teledyne Technologies's earnings growth has not exceeded the US Aerospace & Defense industry average in the past year (30.4% vs 31.1%).
Earnings and Revenue History
Teledyne Technologies's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Teledyne Technologies Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:TDY Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 2,951.40 342.60 694.00
2018-12-30 2,901.80 333.80 677.80
2018-09-30 2,857.80 310.30 685.70
2018-07-01 2,794.70 289.00 676.00
2018-04-01 2,733.30 263.20 655.90
2017-12-31 2,603.80 227.20 629.80
2017-10-01 2,452.30 212.60 592.40
2017-07-02 2,316.90 195.60 572.90
2017-04-02 2,185.50 182.40 560.40
2017-01-01 2,149.90 190.90 554.20
2016-10-02 2,208.30 191.60 581.50
2016-07-03 2,233.20 189.40 578.30
2016-04-03 2,267.10 190.90 577.80
2016-01-03 2,298.10 195.80 583.90
2015-09-27 2,309.10 202.30 588.90
2015-06-28 2,358.50 208.10 602.50
2015-03-29 2,382.00 215.80 607.50
2014-12-28 2,394.00 217.70 609.00
2014-09-28 2,368.30 212.40 612.70
2014-06-29 2,338.80 203.60 610.90
2014-03-30 2,342.70 190.40 609.00
2013-12-29 2,338.60 185.00 598.30
2013-09-29 2,309.40 174.00 588.00
2013-06-30 2,285.20 169.90 576.50
2013-03-31 2,202.70 166.50 539.80
2012-12-30 2,127.30 161.80 505.10
2012-09-30 2,034.40 154.70 469.30
2012-07-01 1,983.40 146.10 439.50

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Teledyne Technologies has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Teledyne Technologies used its assets more efficiently than the US Aerospace & Defense industry average last year based on Return on Assets.
  • Teledyne Technologies has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Teledyne Technologies's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Teledyne Technologies has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

TDY Health

 How is Teledyne Technologies's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Teledyne Technologies's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Teledyne Technologies is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Teledyne Technologies's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Teledyne Technologies's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Teledyne Technologies Company Filings, last reported 2 months ago.

NYSE:TDY Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,349.50 1,000.40 106.20
2018-12-30 2,229.70 750.60 142.50
2018-09-30 2,216.80 837.30 126.10
2018-07-01 2,102.70 952.00 101.40
2018-04-01 2,055.90 1,028.40 79.90
2017-12-31 1,947.30 1,072.90 70.90
2017-10-01 1,853.40 1,195.70 82.50
2017-07-02 1,731.50 1,255.80 81.70
2017-04-02 1,604.10 1,313.10 69.70
2017-01-01 1,554.40 617.80 98.60
2016-10-02 1,545.10 613.00 99.50
2016-07-03 1,477.10 691.70 71.70
2016-04-03 1,427.00 719.50 83.20
2016-01-03 1,344.10 780.60 85.10
2015-09-27 1,420.80 712.70 71.50
2015-06-28 1,396.60 765.30 61.30
2015-03-29 1,329.50 830.00 110.20
2014-12-28 1,468.50 705.10 141.40
2014-09-28 1,537.70 577.80 125.80
2014-06-29 1,624.90 509.20 103.40
2014-03-30 1,546.90 559.90 73.70
2013-12-29 1,518.70 552.50 66.00
2013-09-29 1,359.60 643.10 88.70
2013-06-30 1,280.60 628.10 70.10
2013-03-31 1,233.50 698.70 49.00
2012-12-30 1,203.40 558.20 45.80
2012-09-30 1,198.90 647.70 24.20
2012-07-01 1,128.70 332.20 26.10
  • Teledyne Technologies's level of debt (36.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (36.1% vs 36.5% today).
  • Debt is well covered by operating cash flow (53.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 18.7x coverage).
X
Financial health checks
We assess Teledyne Technologies's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Teledyne Technologies has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

TDY Dividends

 What is Teledyne Technologies's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Teledyne Technologies dividends. Estimated to be 0% next year.
If you bought $2,000 of Teledyne Technologies shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Teledyne Technologies's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Teledyne Technologies's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:TDY Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 22 Stocks 1.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:TDY Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Teledyne Technologies has not reported any payouts.
  • Unable to verify if Teledyne Technologies's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Teledyne Technologies's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Teledyne Technologies has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Teledyne Technologies's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Teledyne Technologies's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Teledyne Technologies afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Teledyne Technologies has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

TDY Management

 What is the CEO of Teledyne Technologies's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Al Pichelli
COMPENSATION $3,461,019
AGE 66
TENURE AS CEO 0.4 years
CEO Bio

Mr. Aldo Pichelli, also known as Al has been Chief Executive Officer at Teledyne Technologies Incorporated since January 1, 2019 and served its Chief Operating Officer of Teledyne Technologies Incorporated from October 6, 2015 to January 1, 2019 and serves its President since April 25, 2018.Mr. Pichelli served as an Executive Vice President of Instrumentation, Aerospace & Defense Electronics Segments of Teledyne Technologies Incorporated from July 1, 2013 to October 6, 2015. Mr. Pichelli served as the President and Chief Operating Officer of Instrumentation & Aerospace & Defense Electronics Segments at Teledyne Technologies Incorporated from January 2, 2011 to July 1, 2013. He served as the President of Electronics & Communications Segment at Teledyne Technologies Incorporated from September 1, 2007 to 2010 and served as its Senior Vice President and Chief Operating Officer of Electronics and Communications segment from July 22, 2003 to 2010. Prior to that, Mr. Pichelli served as a Vice President and General Manager of Teledyne Instruments from its formation in 2001 to 2003. He held various management and financial positions with several Teledyne companies (including former companies) since 1980, having been the Vice President and General Manager of Teledyne Analytical Instruments from 1997 to 2000 and the General Manager of Teledyne Hastings Instruments from 1996 to 1997. He served as Senior Vice President of Teledyne Laars from 1991 to 1996 and served as its Vice President of Manufacturing from 1989 to 1991; Vice President of Finance & Controller from 1983 to 1989; and Controller of Canadian Facility from 1980 to 1983. He held Accounting, auditing, insolvency & business investigations at Coopers & Lybrand from 1976 to 1980. Mr. Pichelli has been a Director of Intelek Limited (also known as Intelek plc) since July 27, 2010 and Teledyne LeCroy, Inc. (formerly LeCroy Corp.) since August 3, 2012. He serves as a Director of Teledyne RESON A/S, Teledyne Australia Pty Ltd., Teledyne Benthos, Inc., Teledyne Cormon Inc., Teledyne Cormon Limited and subsidiary, Teledyne France, Teledyne Germany GmbH, Teledyne Isco, Inc., Teledyne Properties Limited, Teledyne RD Technologies (Shanghai) Ltd., Teledyne Reynolds, Inc. and subsidiaries, Teledyne SG Brown Limited, Teledyne Singapore Private Limited and Teledyne TSS Limited. He served as a Director of Isco Holdings, Inc., Isco GmbH, Teledyne Reynolds International, Inc., and Storm Products (UK) Limited. Mr. Pichelli holds Bachelor of Commerce from McMaster University, Canada and Executive Programs at Stanford and University of Virginia.

CEO Compensation
  • Al's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Al's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Teledyne Technologies management team in years:

2.7
Average Tenure
57
Average Age
  • The tenure for the Teledyne Technologies management team is about average.
Management Team

Robert Mehrabian

TITLE
Executive Chairman
COMPENSATION
$8M
AGE
77
TENURE
0.4 yrs

Al Pichelli

TITLE
President & CEO
COMPENSATION
$3M
AGE
66
TENURE
0.4 yrs

Sue Main

TITLE
Senior VP & CFO
COMPENSATION
$2M
AGE
59
TENURE
6.6 yrs

Melanie Cibik

TITLE
Senior VP
COMPENSATION
$2M
AGE
58
TENURE
2.8 yrs

Scott Hudson

TITLE
VP & Chief Information Officer
AGE
56
TENURE
5 yrs

Jason Connell

TITLE
VP of Human Resources & Associate General Counsel
AGE
42
TENURE
2.5 yrs

Jason VanWees

TITLE
Executive Vice President of Strategy
COMPENSATION
$1M
AGE
46
TENURE
5.9 yrs

Stephen Blackwood

TITLE
Senior VP of Strategic Sourcing
AGE
55
TENURE
0.7 yrs

Sean OConnor

TITLE
Chief Operating Officer & CFO of EEMI Group
AGE
53
TENURE
0.8 yrs

Cynthia Belak

TITLE
VP & Controller
AGE
61
TENURE
4.1 yrs
Board of Directors Tenure

Average tenure and age of the Teledyne Technologies board of directors in years:

13.1
Average Tenure
73.5
Average Age
  • The average tenure for the Teledyne Technologies board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Robert Mehrabian

TITLE
Executive Chairman
COMPENSATION
$8M
AGE
77
TENURE
18.5 yrs

Charles Crocker

TITLE
Director
COMPENSATION
$258K
AGE
79
TENURE
17.7 yrs

Simon Lorne

TITLE
Director
COMPENSATION
$240K
AGE
72
TENURE
14.9 yrs

Michael Smith

TITLE
Lead Director
COMPENSATION
$233K
AGE
75
TENURE
0.4 yrs

Paul Miller

TITLE
Director
COMPENSATION
$220K
AGE
76
TENURE
17.9 yrs

Kenneth Dahlberg

TITLE
Director
COMPENSATION
$220K
AGE
73
TENURE
13.3 yrs

Wes von Schack

TITLE
Independent Director
COMPENSATION
$220K
AGE
74
TENURE
12.9 yrs

Roxanne Austin

TITLE
Independent Director
COMPENSATION
$220K
AGE
57
TENURE
12.7 yrs

Jane Sherburne

TITLE
Independent Director
COMPENSATION
$220K
AGE
67
TENURE
4.8 yrs

Bob Malone

TITLE
Director
COMPENSATION
$220K
AGE
66
TENURE
3.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
29. Jan 19 Sell Robert Mehrabian Individual 29. Jan 19 29. Jan 19 -8,316 $220.00 $-1,829,520
X
Management checks
We assess Teledyne Technologies's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Teledyne Technologies has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

TDY News

Simply Wall St News

Does Teledyne Technologies Incorporated's (NYSE:TDY) Past Performance Indicate A Stronger Future?

When Teledyne Technologies Incorporated (NYSE:TDY) released its most recent earnings update (31 March 2019), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Let's see whether it is merely attributable to an industry uplift, or if Teledyne Technologies has experienced some company-specific growth. … I suggest you continue to research Teledyne Technologies to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for TDY’s future growth?

Simply Wall St -

What Do Analysts Think About Teledyne Technologies Incorporated's (NYSE:TDY) Growth?

View our latest analysis for Teledyne Technologies How will Teledyne Technologies perform in the near future? … I've plotted out each year's earnings expectations and inserted a line of best fit to calculate an annual growth rate from the slope in order to understand the overall trajectory of TDY's earnings growth over these next few years. … NYSE:TDY Past and Future Earnings, May 28th 2019 This results in an annual growth rate of 7.9% based on the most recent earnings level of US$334m to the final forecast of US$416m by 2022.

Simply Wall St -

Estimating The Fair Value Of Teledyne Technologies Incorporated (NYSE:TDY)

by projecting its future cash flows and then discounting them to today's value. … This is done using the Discounted Cash Flow (DCF) model! … If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Teledyne Technologies Incorporated (NYSE:TDY): What's The Analyst Consensus Outlook?

The latest earnings update Teledyne Technologies Incorporated (NYSE:TDY) released in December 2018a

Simply Wall St -

Don't Sell Teledyne Technologies Incorporated (NYSE:TDY) Before You Read This

We'll apply a basic P/E ratio analysis to Teledyne Technologies Incorporated's (NYSE:TDY), to help you decide if the stock is worth further research. … Teledyne Technologies has a P/E ratio of 26.8, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

All You Need To Know About Teledyne Technologies Incorporated's (NYSE:TDY) Financial Health

This article will examine TDY’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. … Note that this commentary is very high-level and solely focused on financial health, so I suggest you dig deeper yourself. … Check out our latest analysis for Teledyne Technologies

Simply Wall St -

Need To Know: Teledyne Technologies Incorporated (NYSE:TDY) Insiders Have Been Selling Shares

So before you buy or sell Teledyne Technologies Incorporated (NYSE:TDY), you may well want to know whether insiders have been buying or selling. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Teledyne Technologies Insider Transactions Over The Last Year.

Simply Wall St -

Did You Miss Teledyne Technologies's (NYSE:TDY) Impressive 165% Share Price Gain?

To wit, the Teledyne Technologies Incorporated (NYSE:TDY) share price has flown 165% in the last three years. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Teledyne Technologies was able to grow its EPS at 19% per year over three years, sending the share price higher.

Simply Wall St -

At US$236, Is It Time To Put Teledyne Technologies Incorporated (NYSE:TDY) On Your Watch List?

Teledyne Technologies Incorporated (NYSE:TDY), which is in the aerospace & defense business, and is based in United States,. … As a well-established company, which tends to be well-covered by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Let’s examine Teledyne Technologies’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Did Teledyne Technologies Incorporated's (NYSE:TDY) Recent Earnings Growth Beat The Trend?

For long term investors, improvement in profitability and outperformance against the industry can be important characteristics in a stock. … In this article, I will take a look at Teledyne Technologies Incorporated's (NYSE:TDY) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … Were TDY's earnings stronger than its past performances and the industry.

Simply Wall St -

TDY Company Info

Description

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company’s Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments. Its Digital Imaging segment provides image sensors and digital cameras for use in industrial, scientific, and medical applications; and hardware and software for image processing and automatic data collection in industrial and medical applications, as well as manufacturing services for micro electro-mechanical systems. This segment also offers light detection and ranging systems; focal plane arrays, sensors, and subsystems; and geospatial software products. The company’s Aerospace and Defense Electronics segment provides electronic components and subsystems, as well as communications products, such as defense electronics; environment interconnects; data acquisition and communications equipment for aircraft; components and subsystems for wireless and satellite communications; and general aviation batteries. Its Engineered Systems segment offers systems engineering and integration, technology development, and manufacturing solutions for defense, space, environmental, and energy applications; and designs and manufactures electrochemical energy systems and small gas turbine engines. The company markets and sells its products and services through sales forces, third-party distributors, and commissioned sales representatives. Teledyne Technologies Incorporated was founded in 1960 and is headquartered in Thousand Oaks, California.

Details
Name: Teledyne Technologies Incorporated
TDY
Exchange: NYSE
Founded: 1960
$9,230,124,090
36,236,354
Website: http://www.teledyne.com
Address: Teledyne Technologies Incorporated
1049 Camino Dos Rios,
Thousand Oaks,
California, 91360,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE TDY Common Stock New York Stock Exchange US USD 23. Nov 1999
DB TYZ Common Stock Deutsche Boerse AG DE EUR 23. Nov 1999
Number of employees
Current staff
Staff numbers
10,850
Teledyne Technologies employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/16 23:42
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/06/11
Last earnings filing: 2019/04/29
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.