TDYMEDIUM SIGNALFINANCIAL10-K

TDY showed strong operational performance with 16% operating income growth, but experienced a significant 46% decline in cash position alongside a 47% increase in current liabilities.

The company demonstrates robust operational execution with increased profitability and continued strategic acquisitions (four in 2025 vs. two in 2024), indicating successful business expansion. However, the sharp decline in cash coupled with rising short-term obligations suggests either large acquisition payments or working capital challenges that warrant monitoring for liquidity management.

Comparing 2026-02-20 vs 2025-02-21View on EDGAR →
FINANCIAL ANALYSIS

TDY's financial profile shows mixed signals with strong operational growth evidenced by 16% higher operating income and 10% increases in both receivables and stockholders' equity, supported by higher capital expenditures and continued share repurchases. However, the balance sheet reveals potential strain with cash declining 46% to $352M while current liabilities surged 47% to $1.9B, likely reflecting acquisition activity and working capital needs from business growth. The overall picture suggests a company investing heavily in growth through acquisitions and capex while managing tighter near-term liquidity.

FINANCIAL STATEMENT CHANGES
Current Liabilities
Balance Sheet
+47.4%
$1.3B→$1.9B

Current liabilities surged 47.4% — significant near-term obligations; verify ability to meet short-term debt.

Cash & Equivalents
Balance Sheet
-45.8%
$649.8M→$352.4M

Cash declined 45.8% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Capital Expenditure
Cash Flow
+40.1%
$83.7M→$117.3M

Capital expenditure jumped 40.1% — major investment cycle underway; assess returns on deployment.

Operating Income
P&L
+16.2%
$989.1M→$1.1B

Operating income improving — cost discipline or growing revenue base absorbing fixed costs.

Inventory
Balance Sheet
+14.1%
$914.4M→$1.0B

Inventory built 14.1% — monitor whether demand supports this build or if write-downs may follow.

Share Buybacks
Cash Flow
+13.8%
$354.0M→$402.9M

Share repurchases increased 13.8% — management returning capital, signals confidence in intrinsic value.

Stockholders Equity
Balance Sheet
+10.1%
$9.5B→$10.5B

Equity base grew 10.1% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Accounts Receivable
Balance Sheet
+10.1%
$901.1M→$992.4M

Receivables grew 10.1% — monitor days sales outstanding for collection efficiency.

LANGUAGE CHANGES
NEW — 2026-02-20
PRIOR — 2025-02-21
ADDED
At February 11, 2026, there were 46,305,311 shares of the registrant s Common Stock outstanding.
Management s Discussion and Analysis of Financial Condition and Results of Operations 22 Item 7A.
Exhibits and Financial Statement Schedules 41 Index to Financial Statements and Related Information 42 Item 16.
Form 10-K Summary 87 Exhibit Index 88 Signatures 93 Explanatory Notes In this Annual Report on Form 10-K, Teledyne Technologies Incorporated is referred to as the Company , Teledyne , we , our or us .
Business Who We Are Teledyne Technologies Incorporated is a Delaware corporation that provides enabling technologies to sense, analyze and distribute information for industrial growth markets that require advanced technology and high reliability.
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REMOVED
At February 12, 2025, there were 46,834,810 shares of the registrant s Common Stock outstanding.
Management s Discussion and Analysis of Financial Condition and Results of Operation s 23 Item 7A.
Exhibits and Financial Statement Schedules 41 I ndex to F inancial S tatements and R elated I nformation 42 Item 16.
Form 10-K Summary 84 Exhibit Index 85 Signatures 90 Explanatory Notes In this Annual Report on Form 10-K, Teledyne Technologies Incorporated is referred to as the Company , Teledyne , we , our or us .
Business Who We Are Teledyne Technologies Incorporated is a Delaware corporation that provides enabling technologies for industrial growth markets that require advanced technology and high reliability.
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