TELEDYNE TECHNOLOGIES INC (TDY)

Teledyne Technologies Incorporated is a Delaware corporation that provides enabling technologies to sense, analyze and distribute information for industrial growth markets requiring advanced technology and high reliability. It became an independent public company on November 29, 1999. Its products include digital imaging sensors, cameras and systems across the visible, infrared and X-ray spectra, monitoring and control instrumentation, harsh environment interconnects, electronic test and measurement equipment, aircraft information management systems, and defense electronics and satellite communication subsystems. It also supplies engineered systems for defense, space, environmental and energy applications. The company completed four acquisitions in 2025 and two in 2024, and one more after year-end.

The business is organized into four segments. Digital Imaging (52% of 2025 net sales) makes high-performance sensors, cameras and systems for industrial, scientific, government, space, defense, security and medical uses, along with MEMS, high-reliability semiconductors, and unmanned aerial and ground systems. Instrumentation (24%) covers marine instruments, undersea interconnects and underwater vehicles, environmental air and water monitoring and laboratory instruments, and electronic test and measurement equipment such as oscilloscopes and protocol analyzers. Aerospace and Defense Electronics (17%) provides electronic and optical components and subsystems, data acquisition and communications equipment, harsh environment interconnects, general aviation batteries, and avionics and aircraft data and connectivity solutions. Engineered Systems (7%) provides systems engineering, integration, advanced technology development and complex manufacturing for defense, space, environmental and energy applications, and also makes electrochemical energy systems and specialty electronics for military uses.

Customers span aerospace and defense, factory automation, environmental monitoring, electronics design, oceanographic research, oil and gas, medical imaging and pharmaceutical research. Engineered Systems' core customers include NASA, the U.S. Department of War, the U.S. Department of Energy, foreign militaries and commercial customers. Sales to the U.S. Government were $1,559.4 million in 2025, or 25.5% of net sales, with the U.S. Department of War the principal customer at $1,203.6 million. About 81% of U.S. Government prime contracts and subcontracts were fixed-price. International sales were $2,932.6 million in 2025, to customers in over 100 countries; the UK, Germany, Japan, China and France were the top five. No commercial customer exceeded 10% of net sales.

Most raw materials are readily available, though some come from a limited set of suppliers, including international ones, and the company has at times had difficulty procuring components. It relies on its own production plus third-party suppliers and subcontractors, and sells through a direct sales force, third-party representatives and distributors. Its many markets are highly competitive, and competitors vary widely and may have greater resources. Competition is based on quality, performance, reliability, technical expertise, price and service. Teledyne had about 15,800 employees in 38 countries at December 28, 2025, and is headquartered in Thousand Oaks, California.