TELEFLEX INC

Listed Company

TFXCIK 0000096943NYSELarge AcceleratedSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.99B

Net Income

$-905.64M

Total Assets

$6.95B

Equity

$3.12B

Shares Out

44.20M

Op. Cash Flow

$96.68M

Business

Teleflex Inc is a global medical technology company that designs, develops, manufactures and supplies single-use and specialty medical devices intended to improve clinical outcomes, provider safety and procedural efficiency. It offers products across vascular access, interventional (cardiac and peripheral), anesthesia (airway, pain and hemostatic), surgical, interventional urology (including the UroLift System), respiratory, urology and OEM manufacturing services. The company reports results through three reportable segments—Americas, EMEA and Asia—with its OEM reporting unit presented within the Americas segment. Teleflex sells worldwide to hospitals, healthcare providers, medical device manufacturers and home care channels through a mix of direct sales forces and distributors.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenues	1,993	1,700	1,712	2,791	2,810
Cost of goods sold	872	662	672	1,260	1,260
Gross profit	1,121	1,037	1,040	1,531	1,550
Selling, general and administrative expenses	720	675	623	864	860
Research and development expenses	145	109	114	154	131
Pension settlement charge	0	133	45	0	0
Restructuring charges, separation costs and impairment charges	137	17	4	20	22
Gain on sale of assets and business	0	0	−4	−7	−91
Income from continuing operations before interest and taxes	118	104	259	500	628
Interest expense	100	84	85	54	—
Interest income	−6	−6	−12	−912,000	−1
Income from continuing operations before taxes	25	26	185	446	559
(Benefit) taxes on income from continuing operations	−34	−31	42	83	74
Income from continuing operations	59	57	144	363	485
Operating (loss) income from discontinued operations	−1,097	49	247	260,000	331,000
(Benefit) taxes on operating loss from discontinued operations	−133	36	34	37,000	76,000
(Loss) income from discontinued operations	−964	12	213	223,000	255,000
Net (loss) income	−906	70	356	363	485
Income (loss) from continuing operations (in dollars per share)	1.31	1.22	3.05	7.74	10.37
Loss from discontinued operations (in dollars per share)	−21.61	0.27	4.53	0	0.01
Net income (in dollars per share)	−20.3	1.49	7.58	7.74	10.38
Income from continuing operations (in dollars per share)	1.31	1.21	3.03	7.67	10.23
(Loss) income from discontinued operations (in dollars per share)	−21.56	0.27	4.5	0.01	0
Net income (loss), diluted (in dollar per share)	−20.25	1.48	7.53	7.68	10.23
Basic (in shares)	45	47	47	47	47
Diluted (in shares)	45	47	47	47	47

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	379	248	223	292	445
Accounts receivable, net	346	227	443	409	384
Inventories	404	307	626	579	478
Prepaid expenses and other current assets	151	102	107	125	117
Prepaid taxes	20	3	7	7	6
Current assets of discontinued operations	640	585	—	—	—
Total current assets	1,938	1,471	1,407	1,411	1,429
Property, plant and equipment, net	498	308	480	447	444
Operating lease assets	92	96	124	131	130
Goodwill	2,305	1,992	2,914	2,537	2,504
Intangibles assets, net	1,524	1,348	2,502	2,306	2,289
Deferred tax assets	13	9	7	6	7
Other assets	113	101	99	89	69
Non-current assets of discontinued operations	464	1,772	—	—	—
Total assets	6,947	7,098	7,533	6,928	6,872
Current borrowings	100	100	88	88	110
Accounts payable	130	98	132	127	118
Accrued expenses	117	108	147	141	163
Payroll and benefit-related liabilities	125	102	147	133	144
Accrued interest	5	5	6	5	5
Income taxes payable	19	41	41	25	84
Other current liabilities	137	59	47	63	56
Current liabilities of discontinued operations	128	136	—	—	—
Total current liabilities	762	649	607	581	680
Long-term borrowings	2,541	1,556	1,728	1,624	1,740
Deferred tax liabilities	184	295	456	389	370
Noncurrent liability for uncertain tax positions	4	2	3	6	9
Noncurrent operating lease liabilities	84	88	111	120	116
Other liabilities	195	118	163	154	157
Non-current liabilities of discontinued operations	53	111	—	—	—
Total liabilities	3,822	2,820	3,092	2,906	3,117
Commitments and contingencies	—	—	—	—	—
Common shares, $1 par value Issued: 2025 48,197 shares; 2024 48,046 shares	48	48	48	48	48
Additional paid-in capital	816	781	750	715	693
Retained earnings	3,150	4,116	4,110	3,817	3,518
Accumulated other comprehensive loss	−239	−317	−314	−404	−347
Shareholders equity before treasury stock, total	3,774	4,628	4,593	4,177	3,912
Less: Treasury stock, at cost	650	350	152	155	157
Total shareholders' equity	3,125	4,278	4,441	4,022	3,755
Total liabilities and shareholders' equity	6,947	7,098	7,533	6,928	6,872

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation expense	56	53	45	67	72
Intangible asset amortization expense	122	109	103	164	166
Deferred financing costs and debt discount amortization expense	5	3	3	4	4
Gain on non-designated foreign currency forward contracts	−83	0	0	—	—
Changes in contingent consideration	16	10	−27	2	8
Asset impairments	108	8	0	1	—
Stock-based compensation	26	26	27	27	23
Gain on sale of assets and business	0	0	−4	−7	−91
Deferred income taxes, net	−101	−113	−8	−13	−110
Payments for contingent consideration	0	0	−289,000	−3	−230,000
Interest benefit on swaps designated as net investment hedges	−22	−17	−19	−21	−19
Other	−8	14	704,000	−3	−36
Accounts receivable	−86	−4	−4	−38	−600,000
Inventories	84	7	−56	−111	−11
Prepaid expenses and other assets	−36	42	−5	13	−28
Accounts payable, accrued expenses and other liabilities	−8	2	−19	−25	94
Income taxes	−36	−27	−19	−79	73
Net cash provided by operating activities from continuing operations	97	302	206	343	652
Expenditures for property, plant and equipment	−95	−90	−46	−79	−72
Payments for businesses and intangibles acquired, net of cash acquired	−832	−120,000	−450,000	−198	−5
Proceeds on non-designated balance sheet hedges	82	0	0	—	—
Proceeds from sales of business and assets	7	0	15	—	—
Insurance settlement proceeds	9	0	—	—	—
Net interest proceeds on swaps designated as net investment hedges	21	27	63	21	19
Proceeds from sales of investments	0	7	7	7	7
Purchase of investments	−5	−7	−11	−22	−18
Net cash (used in) provided by investing activities from continuing operations	−813	−63	27	−259	157
Proceeds from new borrowings	1,140	130	646	744	400
Reduction in borrowings	−153	−292	−545	−885	−1,035
Debt extinguishment, issuance and amendment fees	−5	0	0	−5	−10
Repurchase of common stock	−300	−200	0	0	—
Net proceeds from share based compensation plans and the related tax impacts	7	3	5	−4	12
Payments for contingent consideration	−16	−236,000	−4	—	—
Dividends paid	−60	−64	−64	−64	−64
Excise tax paid on repurchase of common stock	−2	0	0	—	—
Net cash provided by (used in) financing activities from continuing operations	612	−422	39	−218	−716
Net cash provided by operating activities	244	334	305	−665,000	−720,000
Net cash used in investing activities	−37	−36	−648	1	0
Net cash provided by (used in) discontinued operations	207	298	−344	804,000	−720,000
Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents	23	−10	3	−20	−23
Net increase (decrease) in cash, cash equivalents and restricted cash equivalents	126	105	−69	−153	69

Filings

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