Teledyne Technologies Incorporated (TDY)
Technology · NYQ · US
Fundamentals
Valuation and ratings
Teledyne Technologies Incorporated trades at USD630.86, which is 18% below the USD746.90 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 58 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 32.2 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Teledyne Technologies Incorporated
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets in the United States, Europe, Asia, and internationally. The Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectrum products, as well as micro-electromechanical systems and semiconductors, such as analog-to-digital and digital-to-analog converters. This segment offers cooled and uncooled infrared or thermal products, including sensors, camera cores, and camera systems; high-resolution, low-dose X-ray sensors, high-power microwave, and high-energy X-ray subsystems; and instruments for the measurement of physical properties and maritime products, as well as develops and manufactures multi-spectrum electro-optic/infrared imaging systems and associated products, such as lasers, optics, radars, CBRNE (chemical, biological, radiological, nuclear, and explosive) detectors, and unmanned air and ground systems. The Instrumentation segment provides monitoring, control, and electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks. The Aerospace and Defense Electronics segment offers electronic and optical components and subsystems, data acquisition and communications components and equipment, harsh-environment interconnects, general aviation batteries and other components; and onboard avionics systems and ground-based applications, aircraft data and connectivity solutions, hardware systems, and software applications. The Engineered Systems segment provides systems engineering, integration and advanced technology development, and complex manufacturing solutions for defense, space, environmental, and energy applications; and designs and manufactures electrochemical energy systems and specialty electronics for military applications. The company was founded in 1960 and is headquartered in Thousand Oaks, California.
TDY passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
15 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Dodge & Cox, DODGE & COX$970.60M · 0.5% of book
- Findlay Park Partners, Findlay Park Partners LLP$238.58M · 3.3% of book
- Two Sigma, TWO SIGMA INVESTMENTS, LP$155.20M · 0.1% of book
- Select Equity Group, Select Equity Group, L.P.$120.37M · 0.6% of book
- Joel Greenblatt, Gotham Asset Management, LLC$44.55M · 0.1% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Teledyne Technologies Incorporated (TDY) undervalued?
Against our discounted cash flow estimate of USD746.90, TDY at USD630.86 is 18% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own TDY?
15 of the institutions we track reported a position in TDY in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is TDY's P/E ratio?
TDY trades at 32.2 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for TDY, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.