One-glance verdict
Overvalued
$85.27 our estimate vs market $130.99
Wall Street consensus: $153.55 (80.1% higher than our fair-value estimate)
54% above our estimate, beyond the bull case
Fundamentals snapshot
Teleflex Incorporated
TFX · NYQ · Healthcare · Medical Instruments & Supplies
Current price
$130.99
52-week range
$100.18 - $145.00
Market cap
$5.55B
Balance sheet
Stretched
2.55x Stretched
Net debt $2.61B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
3 Risks
3 rewards · 3 risks
- Reward Revenue grew 30.5% last year.
- Reward Free cash flow was positive in 10/10 years.
- Risk Net debt grew 52.4% over 3 years.
- Risk Operating margin compressed from 18.4% to 10.1% over 3 years.
What this company does
Teleflex Incorporated
Teleflex provides hospitals with essential, single-use medical tools for surgery and emergency procedures. The company makes its money selling a wide range of devices, from catheters (thin tubes used to deliver medicine or fluids) to specialized surgical staplers and tools that stop bleeding. Because these critical items are disposable and used daily in patient care, hospitals need to constantly restock them, creating steady demand for Teleflex's products.
How the company got here
Founded in 1943, Teleflex began by making a flexible cable for pilots to adjust their radios in aircraft. Over many years, it grew into a wide-ranging company by acquiring other businesses. A major shift happened when it began moving into the medical field in 1981 and later decided to focus almost entirely on making medical devices. This change involved selling off other parts of its business, like its automotive and marine divisions, while buying companies that made specialized medical tools. This series of acquisitions and divestitures (selling off business units) shaped it into the specialized healthcare company it is today.
What it actually does
Teleflex makes single-use medical devices that doctors and nurses use for common but critical procedures in surgery and emergency care. Think of it as a provider of specialized tools for healthcare professionals, much like a specialty tool company provides specific instruments for a mechanic. Its products are used in hospitals and other healthcare settings for tasks like delivering medicine into the bloodstream, helping a patient breathe during surgery, or closing a wound. The company sells these essential items to hospitals and other healthcare providers.
Vascular & Interventional Access
This is a core part of Teleflex's business, providing tools that help doctors access a patient's veins and arteries. This segment includes products like catheters (thin tubes inserted into the body to deliver fluids or medicine), and systems that help guide these catheters to the right place. It also includes devices for emergency situations where getting a standard IV into a vein is difficult, allowing for access through the bone. Hospitals and emergency services pay for these products, which are critical for everything from giving antibiotics to performing complex heart procedures.
Surgical
This segment provides a range of tools used by surgeons in the operating room. Its products include special clips for closing off blood vessels, devices for sealing up incisions after surgery, and various surgical instruments for different specialties like heart or chest surgery. Many of these tools are designed for minimally invasive surgery (procedures done through small incisions), which can help patients recover faster. Hospitals and surgical centers buy these products to equip their operating rooms.
Anesthesia and Emergency Medicine
This area focuses on products that help patients breathe and manage pain, primarily during surgery or in emergencies. It includes breathing tubes, masks, and other devices that ensure a patient's airway is open. For pain management, it offers products for delivering anesthesia (numbing medication) to specific parts of the body. This segment also provides products for emergency situations, such as special dressings to stop bleeding quickly.
What management is betting on now
Teleflex's management is focused on becoming a more specialized medical technology leader. A key part of this strategy involves selling off certain business units to concentrate on its core areas of Vascular Access, Interventional, and Surgical products. The company is also using acquisitions (buying other companies) to add new, innovative products to its portfolio, particularly in the interventional space. By doing this, they aim to increase their focus on high-growth areas and improve their financial performance, including their margins (the profit made on each dollar of sales).
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$209.91M
FY2024 Q4
$170.61M
FY2025 Q1
$43.33M
FY2025 Q2
$-26.78M
FY2025 Q3
$77.84M
FY2025 Q4
$-92.94M
FY2026 Q1
$27.87M
FY2026 Q2
$77.86M
Revenue
$570.33M
Net income
$99.69M
Diluted EPS
2.28
Operating cash flow
$91.90M
Free cash flow
$77.86M
Fetching…
Sources
Revenue
$548.26M
Net income
$-8.15M
Diluted EPS
-0.18
Operating cash flow
$46.66M
Free cash flow
$27.87M
Fetching…
Sources
Revenue
$568.98M
Net income
$-714.33M
Diluted EPS
-16.15
Operating cash flow
$-92.29M
Free cash flow
$-92.94M
Fetching…
Sources
Revenue
$913.02M
Net income
$-408.89M
Diluted EPS
-9.24
Operating cash flow
$107.78M
Free cash flow
$77.84M
Fetching…
Sources
Revenue
$780.89M
Net income
$122.58M
Diluted EPS
2.77
Operating cash flow
$7.85M
Free cash flow
$-26.78M
Fetching…
Sources
Revenue
$700.67M
Net income
$95.00M
Diluted EPS
2.07
Operating cash flow
$73.34M
Free cash flow
$43.33M
Fetching…
Sources
Revenue
$442.01M
Net income
$-136.66M
Diluted EPS
-2.93
Operating cash flow
$202.64M
Free cash flow
$170.61M
Fetching…
Sources
Revenue
$764.38M
Net income
$111.00M
Diluted EPS
2.36
Operating cash flow
$231.09M
Free cash flow
$209.91M
Fetching…
Sources
Is it cheap or expensive?
Fair value $85.27 vs current price $130.99
Wall Street consensus is the average analyst price target: $153.55 (80.1% higher than our fair-value estimate).
Our most-likely fair value is $85.27 a share — about 34.9% below today's price of $130.99, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Stretched
Net debt $2.6B. Interest coverage 2.6x.
Net debt
$2.61B
Interest coverage
2.55x
Teleflex Incorporated's profit covers its interest bill about 2.6 times over. which is stronger than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Stretched
Worse cushion
Baseline
Better cushion
TFX
BASELINE
Teleflex Incorporated
Total debt $2.94B Interest coverage 2.55x This is the baseline the peer rows are being compared against.
Total debt $1.29B Interest coverage 1.17x -54% vs TFX Carries about 2.2x less debt cushion than TFX.
Total debt $2.05B Interest coverage 0.21x -92% vs TFX Carries about 12.2x less debt cushion than TFX.
Total debt $834.25M Interest coverage 3.30x +29% vs TFX Carries about 1.3x more debt cushion than TFX.
Total debt $1.17B Interest coverage 8.41x +230% vs TFX Carries about 3.3x more debt cushion than TFX.
Total debt $212.71M Interest coverage 144.35x +5,556% vs TFX Carries about 56.6x more debt cushion than TFX.
What you should know
The case for and against TFX
3 Rewards
3 Risks
Rewards
-
Revenue grew 30.5% last year.
-
Free cash flow was positive in 10/10 years.
-
Dividend yield is 1.0% with 40-year payout history.
Risks
-
Net debt grew 52.4% over 3 years.
-
Operating margin compressed from 18.4% to 10.1% over 3 years.
-
Insider ownership is only 0.6% (peer median: 1.8%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
11.96x
P/B
1.91x
P/S
2.46x
EV/EBITDA
20.21x
PEG ratio
0.16x
Profitability
How much profit each dollar creates
Gross margin
55.1%
Operating margin
10.1%
Net margin
-45.8%
ROE
-0.7%
ROA
1.7%
Health
Liquidity and balance-sheet strength
Debt / equity
1.01x
Current ratio
2.60x
Quick ratio
0.96x
Total debt
$2.94B
Total cash
$323.94M
Growth
How the business has been compounding
Revenue TTM
$2.60B
Revenue 5Y CAGR
-8.2%
EPS TTM
-0.52
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$154.06M
Free CF TTM
$1.45M
FCF margin
0.1%
Dividend
Shareholder payout
Yield
1.0%
Payout ratio
2,266.7%
Last ex-div date
2026-08-14