Teledyne Technologies (NYSE:TDY) - Share price, News & Analysis

TDY fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	1/6
Past Performance	4/6
Financial Health	3/6
Dividends	0/6

TDY Stock Overview

Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, Belgium, the Netherlands, and internationally.

Rewards

Trading at 14.4% below our estimate of its fair value

Earnings are forecast to grow 11.85% per year

Earnings grew by 41.8% over the past year

Risk Analysis

Debt is not well covered by operating cash flow

Shareholders have been diluted in the past year

Teledyne Technologies Competitors

Keysight Technologies

NYSE:KEYS

US$24.9b

National Instruments

NasdaqGS:NATI

US$4.4b

Badger Meter

NYSE:BMI

US$2.3b

Itron

NasdaqGS:ITRI

US$2.2b

Price History & Performance

Summary of all time highs, changes and price drops for Teledyne Technologies
Historical stock prices
Current Share Price	US$400.95
52 Week High	US$493.97
52 Week Low	US$374.65
Beta	1.1
1 Month Change	-16.51%
3 Month Change	-3.84%
1 Year Change	-5.85%
3 Year Change	66.60%
5 Year Change	213.59%
Change since IPO	4,652.00%

Recent News & Updates

May 02

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

Today we will run through one way of estimating the intrinsic value of Teledyne Technologies Incorporated ( NYSE:TDY...

Shareholder Returns

	TDY	US Electronic	US Market
7D	-1.6%	-1.4%	-2.5%
1Y	-5.8%	-12.3%	-10.4%

Return vs Industry: TDY exceeded the US Electronic industry which returned -12.3% over the past year.

Return vs Market: TDY exceeded the US Market which returned -10.4% over the past year.

Price Volatility

Is TDY's price volatile compared to industry and market?
TDY volatility
TDY Average Weekly Movement	4.1%
Electronic Industry Average Movement	7.7%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.7%
10% least volatile stocks in US Market	2.8%

Stable Share Price: TDY is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: TDY's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1960	14,500	Robert Mehrabian	https://www.teledyne.com

Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, Belgium, the Netherlands, and internationally. 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. Its Digital Imaging segment provides visible spectrum sensors and digital cameras for industrial machine vision and automated quality control, as well as for medical, research, and scientific applications; and infrared and X-ray spectra for use in industrial, government, and medical applications, as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.

Teledyne Technologies Fundamentals Summary

How do Teledyne Technologies's earnings and revenue compare to its market cap?
TDY fundamental statistics
Market Cap	US$18.78b
Earnings (TTM)	US$573.20m
Revenue (TTM)	US$5.13b

32.8x

P/E Ratio

3.7x

P/S Ratio

Is TDY overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
TDY income statement (TTM)
Revenue	US$5.13b
Cost of Revenue	US$3.03b
Gross Profit	US$2.10b
Other Expenses	US$1.53b
Earnings	US$573.20m

Last Reported Earnings

Apr 03, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	12.24
Gross Margin	40.92%
Net Profit Margin	11.17%
Debt/Equity Ratio	52.8%

How did TDY perform over the long term?

See historical performance and comparison

Valuation

Is Teledyne Technologies undervalued compared to its fair value and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

14.4%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: TDY ($400.95) is trading below our estimate of fair value ($468.23)

Significantly Below Fair Value: TDY is trading below fair value, but not by a significant amount.

Price To Earnings Ratio

PE vs Industry: TDY is poor value based on its PE Ratio (32.8x) compared to the US Electronic industry average (15.4x).

PE vs Market: TDY is poor value based on its PE Ratio (32.8x) compared to the US market (15.5x).

Price to Earnings Growth Ratio

PEG Ratio: TDY is poor value based on its PEG Ratio (2.8x)

Price to Book Ratio

PB vs Industry: TDY is overvalued based on its PB Ratio (2.4x) compared to the US Electronic industry average (1.8x).

Future Growth

How is Teledyne Technologies forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

11.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: TDY's forecast earnings growth (11.9% per year) is above the savings rate (1.9%).

Earnings vs Market: TDY's earnings (11.9% per year) are forecast to grow slower than the US market (12.6% per year).

High Growth Earnings: TDY's earnings are forecast to grow, but not significantly.

Revenue vs Market: TDY's revenue (5% per year) is forecast to grow slower than the US market (8% per year).

High Growth Revenue: TDY's revenue (5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: TDY's Return on Equity is forecast to be low in 3 years time (10.4%).

Past Performance

How has Teledyne Technologies performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

16.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TDY has high quality earnings.

Growing Profit Margin: TDY's current net profit margins (11.2%) are lower than last year (13%).

Past Earnings Growth Analysis

Earnings Trend: TDY's earnings have grown by 16.2% per year over the past 5 years.

Accelerating Growth: TDY's earnings growth over the past year (41.8%) exceeds its 5-year average (16.2% per year).

Earnings vs Industry: TDY earnings growth over the past year (41.8%) exceeded the Electronic industry 37.6%.

Return on Equity

High ROE: TDY's Return on Equity (7.3%) is considered low.

Financial Health

How is Teledyne Technologies's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: TDY's short term assets ($2.3B) exceed its short term liabilities ($1.4B).

Long Term Liabilities: TDY's short term assets ($2.3B) do not cover its long term liabilities ($5.0B).

Debt to Equity History and Analysis

Debt Level: TDY's net debt to equity ratio (49.1%) is considered high.

Reducing Debt: TDY's debt to equity ratio has reduced from 81.1% to 52.8% over the past 5 years.

Debt Coverage: TDY's debt is not well covered by operating cash flow (11.7%).

Interest Coverage: TDY's interest payments on its debt are well covered by EBIT (15.9x coverage).

Balance Sheet

Dividend

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

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate TDY's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TDY's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TDY's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TDY's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as TDY has not reported any payouts.

Next Steps

Explore strong dividend paying companies in the Tech industry.

Management

How experienced are the management team and are they aligned to shareholders interests?

8.0yrs

Average management tenure

CEO

Robert Mehrabian (80 yo)

0.58

Tenure

US$6,567,058

Compensation

Dr. Robert Mehrabian has been the President and Chief Executive Officer of Teledyne Technologies Incorporated since October 15, 2021. He has been an Executive Chairman at Teledyne FLIR, LLC since May 14, 2...

CEO Compensation Analysis

Compensation vs Market: Robert's total compensation ($USD6.57M) is below average for companies of similar size in the US market ($USD13.26M).

Compensation vs Earnings: Robert's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: TDY's management team is seasoned and experienced (8 years average tenure).

Board Members

Experienced Board: TDY's board of directors are seasoned and experienced ( 15.8 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 26.4%.

Data	Last Updated (UTC time)
Company Analysis	2022/05/15 00:00
End of Day Share Price	2022/05/13 00:00
Earnings	2022/04/03
Annual Earnings	2022/01/02