# Teleflex Incorporated (TFX) — Stock CV

Teleflex Incorporated 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.

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

## Identity

- **Ticker**: TFX
- **Sector**: Healthcare
- **Industry**: Surgical & Medical Instruments & Apparatus
- **Headquarters**: WAYNE, PA
- **Employees**: 15 500
- **Website**: https://www.teleflex.com
- **Market cap**: $5.30B
- **Last price**: $125.12
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $6.05B
- **Net income**: -$1.01B
- **Free cash flow**: $229M
- **Net debt**: $2.61B
- **P/E**: 28.7
- **Revenue growth (YoY)**: -19.1%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 64 |
| Growth | 25 |
| Profitability | 5 |
| Health | 43 |
| Quality | 65 |
| Moat | 70 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [ ] Revenue growing — -19.1% YoY
- [ ] Profitable — -$1.01B TTM
- [x] Profit growing — +110.6% YoY
- [x] Generates cash — $229M TTM
- [ ] Debt under control — ~11.4y of cash flow to repay
- [x] Established company — $5.30B market cap
- [x] Not printing shares — -7.2% shares over ~5y
- [x] Proven track record — 10/11 profitable years
- [x] Financially stable — Altman Z 1.9 — grey
- [x] Pays a dividend — yield 1.13%
- [x] Valuation not extreme — P/E 28.7

## Experience (career milestones)

- **FY2021** — Best year on record: $1.08B net income
- **Dec 31, 2020** — Under the terms of the agreement, Teleflex will acquire NeoTract for an up-front cash payment of $725M USD and up to…
- **Sep 5, 2017** — Teleflex announced that it had entered into a definitive agreement to acquire NeoTract in a…
- **FY2016** — First recorded profitable year: $574M net income
- **FY2016** — Revenue already above $1B: $4.55B in first reported year
- **FY2016** — Positive free cash flow every year since: 11-year streak
- **2013** — Teleflex completed the acquisition of Vidacare Corporation, integrating Vidacare's intraosseous…
- **2012** — Teleflex substantively finalized an agreement to acquire all assets of the medical device maker LMA…

## 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

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2022 | $6.81B | $907M | $574M |
| FY2023 | $7.34B | $946M | $923M |
| FY2024 | $7.52B | $387M | $1.06B |
| FY2025 | $6.57B | -$784M | $156M |
| FY2026 | $1.67B | $83.4M | $134M |

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Source: https://stockcv.com/TFX — derived from company filings; may be delayed or incomplete. Information, not investment advice.