TDY · NYSE
Teledyne
EO/IR, thermal, unmanned sensors (FLIR), Black Hornet nano-UAS
Research score
72
Adjust weights in Scoring
Last Q revenue
$1.7B
2026-06-30
Q YoY
+10%
Backlog
n.d.
unable
Last print · Yahoo Finance spark (query1)
What it actually does
Sells sensors, cameras, and a nano-UAV. Defense is a mix, not 90% of sales.
Component / enabler, not a drone OEM.
Critical U.S. EO/IR supplier with Black Hornet on Blue compilations and disclosed unmanned/C-UAS growth. Low pure-play; included as a component enabler.
Buy-side thesis
Picks-and-shovels on every serious U.S. UAS. C-UAS sensor growth called out by CEO.
Quality compounder; drawdowns are usually multiple, not solvency.
Sell-side thesis
Low pure-play. A drone boom can be a rounding error on $1.66B/quarter.
Do not pay a drone multiple for TDY.
Financial quality
High. Recurring industrial + defense. Not a story stock.
Earnings review
Q2 2026 $1.66B, +9.8%, beat; profit guide raised.
Why the score / why it can break
Supports
- Procurement validation is above the universe median.
- Balance-sheet heat is a relative strength.
- Critical U.S. EO/IR supplier with Black Hornet on Blue compilations and disclosed unmanned/C-UAS growth. Low pure-play; included as a component enabler.
Risks to the score
- Pure-play mismatch
- Incomplete disclosure in this research set.
- Incomplete disclosure in this research set.
Scenarios — not a price target
| Case | P | Revenue | Margins | Dilution | Multiple | Impl. cap / px |
|---|---|---|---|---|---|---|
| bear | 20% | Low-single-digit growth | stable | none | 18x EPS | ~$24B / ~$520 |
| base | 60% | HSD organic in imaging | stable+ | none | 22x EPS | ~$30B / ~$650 |
| bull | 20% | C-UAS/unmanned mix up | up | none | 26x EPS | ~$36B / ~$780 |
Implied prices are arithmetic from stated assumptions. They are not recommendations.