Teleflex Incorporated

Surgical & Medical Instruments & Apparatus

TFXMixed8 of 11 basics passed

$125.12

+0.75%

Market cap $5.30B

$125.12

+0.75%

Market cap $5.30B

Teleflex Inc is a provider of medical technology products focused on enhancing clinical benefits, improving patient and provider safety and reducing total procedural costs.

It is a $5.30B healthcare company. Revenue shrank 19.1% over the last year, it currently loses money, and its net debt equals ~11.4 years of free cash flow.

Website: teleflex.com
Location: Wayne, PA
Employees: 15 500
Sector: Healthcare

Share price · 3 years

$199.24 → $125.12-37.2%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $6.05B
Loss: spends more than it earns; -$1.01B
Free cash flow: cash left after running the business; $229M
Net debt: debt minus cash on hand; $2.61B
P/E: years of profit in the price; 28.7
Dividend: pays out 15% of profit · 26% of FCF; 1.13%
Shares: down 8% since 2016 — buybacks; 44.0M
Volatility: beta vs the market — under 1 swings less; 0.85

Revenue, last 10 years

52-week range

Low $100.34$125.12High $142.05

Today's price is 59% of the way from the year's low to its high.

P/E vs its history4y

28.2×median 31.2×

Higher than 35% of past days — around the middle of its own history.

Valuation vs own history

P/E

28.2×

64%

P/S

3.3×

63%

EV/EBITDA

36.8×

10%

P/B

1.8×

75%

FCF yield

1.8%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Standing in Healthcare

Size$5.30Btop 98%
Revenue growth-11%top 95%
Net margin-40%top 88%
Return on equity-32%top 88%
P/E28.7×top 56%
Dividend yield1.13%top 53%

Ranked against 98 Healthcare companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Growth, Profitability and Health lag behind.

Valuation64

P/E vs own history35th pct · 20/25
FCF yield4.3% · 12/25
P/S2.0x · 20/25
EV/EBITDA19.5x · 12/25

Growth25

Revenue CAGR-8.2% · 0/25
Net income CAGRn/a · 0/25
EPS CAGR ~5Y-39.1% · 0/25
Fwd implied growth126.9% · 25/25

Profitability5

ROIC1.5% · 5/25
ROE-31.9% · 0/25
Net margin-16.7% · 0/25
Operating margin-11.7% · 0/25

Health43

Altman Z1.93 · 10/25
Current ratio2.60 · 25/25
Interest coverage1.3x · 3/25
Net cash / debtD/A 38% · 5/25

Quality65

Piotroski F5/9 · 15/25
Beneish M-2.75 · 25/25
FCF conversion-9% · 0/25
Margin stabilityσ 4.8% · 25/25

Moat70

ROIC >12% years9/11 yrs · 20/25
Median gross margin55.1% · 25/25
FCF-positive years11/11 yrs · 25/25
Worst-year net marginworst -11.9% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2021Financial
Best year on record
$1.08B net income
Dec 31, 2020Acquisition
Under the terms of the agreement, Teleflex will acquire NeoTract for an up-front cash payment of $725M USD and up to…
Sep 5, 2017Acquisition
Teleflex announced that it had entered into a definitive agreement to acquire NeoTract in a…
FY2016Financial
First recorded profitable year
$574M net income
FY2016Financial
Revenue already above $1B
$4.55B in first reported year
FY2016Financial
Positive free cash flow every year since
11-year streak
2013Acquisition
Teleflex completed the acquisition of Vidacare Corporation, integrating Vidacare's intraosseous…
2012Acquisition
Teleflex substantively finalized an agreement to acquire all assets of the medical device maker LMA…

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$3 230 today — price return only

$1.7B revenue in FY2026

Positive free cash flow 11 years in a row

15 500 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (53.8%)

Watch-outs

Revenue shrinking 19.1% year over year
Not profitable — 16.7% net margin
Net debt would take ~28.8 years of free cash flow to repay
Thin interest coverage (1.3×)
Loss-making in 1 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

8 of 11 checks passed

Revenue growing — the company sells more than a year ago-19.1% YoY
Profitable — makes more than it spends-$1.01B TTM
Profit growing — earnings are higher than last year+110.6% YoY
Generates cash — cash left after running and investing$229M TTM
Debt under control — could handle its obligations~11.4y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$5.30B market cap
Not printing shares — share count not ballooning — you keep your slice-7.2% shares over ~5y
Proven track record — years of profitability behind it10/11 profitable years
Financially stable — balance sheet not near distressAltman Z 1.9 — grey
Pays a dividend — returns cash to shareholdersyield 1.13%
Valuation not extreme — price not wildly above earningsP/E 28.7

Peer comparisonTeleflex Incorporated vs 6 largest healthcare peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
TFX this company	$5.3B	28.7	-19.1%	-16.7%	Mixed
LLY Eli Lilly & Co.	$1.0T	41.6	+49.6%	33.5%	Solid
JNJ Johnson & Johnson	$630.9B	29.9	+8.1%	21.5%	Mixed
ABBV Abbvie Inc.	$488.5B	77.4	+10.4%	9.8%	Mixed
MRK Merck & Co., Inc.	$361.0B	113.2	+4.6%	4.8%	Mixed
UNH UNITEDHEALTH GROUP INCORPORATED (Delaware)	$340.7B	24.1	+6.5%	3.1%	Mixed
NVS Novartis AG	$273.2B	20.3	+9.6%	24.7%	Solid

Head-to-head: TFX vs LLY · TFX vs JNJ · TFX vs ABBV

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 1Buy 7Hold 11

Appendix · Financial records

The full statements behind this CV, FY2016–FY2026. For readers who want to check the numbers.

Profit & lossRevenue $6.05B · net income -$1.01B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2026 revenue flows to profit

RevenueNet income

Revenue (TTM)

$6.05B

YoY -19.1%

Net income (TTM)

-$1.01B

Margin -16.7%

Gross margin

53.8%

Operating margin

-11.7%

P/E ratio

28.7

Dividend yield

1.13%

Income statement — full detail

Figures in USD billions · EPS in USD

	2021	2022	2023	2024	2025	2026
Revenue	6.8	6.8	7.3	7.5	6.6	1.7
Gross profit	3.8	3.7	4.1	4.2	3.6	0.9
Operating income (EBIT)	1.1	1.2	1.0	0.5	0.8	0.1
Net income	1.1	0.9	0.9	0.4	-0.8	0.1
EPS (diluted)	22.68	19.18	20.01	8.21	-17.54	1.89

Cash flowFree cash flow $229M · operating cash flow $471M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$229M

Margin 3.8%

Operating cash flow (TTM)

$471M

FCF margin

5.6%

Cash flow statement — full detail

Figures in USD billions

	2021	2022	2023	2024	2025	2026
Operating cash flow	1.5	0.8	1.1	1.4	0.4	0.2
Capital expenditure	-0.2	-0.2	-0.2	-0.3	-0.3	-0.1
Free cash flow	1.3	0.6	0.9	1.1	0.2	0.1
FCF margin	19.0%	8.4%	12.6%	14.1%	2.4%	8.0%

Balance sheetAssets $6.79B · net debt $2.61B (FY2026)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $6.79B of assets is financed

57%

43%

Liabilities $3.88B — borrowed moneyEquity $2.90B — owners' stake

Cash vs debt

Total debt $2.94B − cash $324M = net debt $2.61B

Cash on hand covers 11% of debt.

Altman Z-Score

1.93

Grey zone

Debt repayment

28.8 yrs

Years of free cash flow to clear net debt

Interest coverage

1.3x

EBIT ÷ interest expense

ROE

-31.9%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2021	2022	2023	2024	2025	2026
Cash & equivalents	0.4	0.3	0.2	0.3	0.4	0.3
Total assets	6.9	6.9	7.5	7.1	6.9	6.8
Total liabilities	3.1	2.9	3.1	2.8	3.8	3.9
Total debt	1.9	1.7	1.8	1.7	2.6	2.9
Equity	3.8	4.0	4.4	4.3	3.1	2.9
Net debt	1.4	1.4	1.6	1.4	2.3	2.6

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Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $125.12 · market cap $5.30B.