At a glance
Teleflex Incorporated is worth $5.89B. Revenue grew 17.2% to $1.99B in fiscal 2025, at a loss. It pays a 0.98% dividend yield, and returned $815.1M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +7.6% over the past year with dividends reinvested and −16.1% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 42.9% in the 2020 crash (S&P 500: 33.7%) and 47.2% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Teleflex makes medical devices, mostly single-use items that hospitals and healthcare providers use in critical care and surgery. Because each device is used once, hospitals reorder as they treat patients. Teleflex markets its products worldwide through its own sales force and distributors, and its main factories are in the Czech Republic, Malaysia, Mexico and the US.
In the year ended December 31, 2025, the businesses Teleflex is keeping had revenue of $1.99 billion. Vascular access products were 46%, led by Arrow catheters, EZ-IO systems that deliver drugs through the bone when veins are hard to reach, and QuikClot bleeding-control products. Interventional devices for heart and blood-vessel procedures, such as GuideLiner catheters, were 33%; the June 30, 2025 purchase of BIOTRONIK's Vascular Intervention business added stents and drug-coated balloons. Surgical products, including Weck clips that seal off blood vessels, were 21%. The Americas supplied 64% of revenue, Europe, the Middle East and Africa 24%, and Asia 12%; the US alone was 59%.
In December 2025 Teleflex agreed to divest its Acute Care and Interventional Urology businesses to Intersurgical Ltd and its OEM unit, which makes parts for other device makers, to Montagu and Kohlberg. The deals, worth $2.0 billion in cash combined, were expected to close in the second half of 2026.
Price history
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TFX +7.6% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Vascular Access | $917.7M | 46.1% |
| Interventional | $647.8M | 32.5% |
| Surgical | $418.2M | 21% |
| Other | $9.0M | 0.5% |
By business segment
| Americas | $1.28B | 64.2% |
| EMEA | $472.4M | 23.7% |
| Asia | $241.1M | 12.1% |
By geography
| UNITED STATES | $1.18B | 59.3% |
| Europe | $484.7M | 24.3% |
| Asia Pacific | $218.0M | 10.9% |
| All other | $108.1M | 5.4% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $570.3M, up 28.9% from a year earlier, and net income was $99.7M (-18.7%).
- For fiscal 2025, revenue was $1.99B (+17.2% year over year) with a -45.4% net margin.
Financial health check
| Operating margin | 5.9% watch |
|---|---|
| Free cash flow margin | 0.1% watch |
| Return on equity (FY2025) | -29% weak |
| Return on assets (FY2025) | -13% weak |
| Net cash (cash minus debt) | $-2.51B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $2.54B | $335.3M | $346.4M |
| FY2021 | $2.81B | $485.4M | $580.5M |
| FY2022 | $2.79B | $363.1M | $263.6M |
| FY2023 | $1.71B | $356.3M | $159.7M |
| FY2024 | $1.70B | $69.7M | $211.4M |
| FY2025 | $1.99B | $-905.6M | $1.4M |
Valuation snapshot
| Market value | $5.89B |
|---|---|
| P/E ratio | — |
| Dividend yield | 0.98% |
Rank among 1514 US companies
Market value at each year end
Teleflex Incorporated’s market value went from $7.10B at the end of 2016 to $5.89B on Oct 28, 2026, down 17%; since the end of 2025 it is up 9%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $5.89B | +9.2% |
| 2025 | $5.39B | -34.8% |
| 2024 | $8.27B | -29.5% |
| 2023 | $11.72B | +0.1% |
| 2022 | $11.71B | -23.9% |
| 2021 | $15.39B | -19.7% |
| 2020 | $19.17B | +10.0% |
| 2019 | $17.43B | +46.6% |
| 2018 | $11.89B | +6.0% |
| 2017 | $11.21B | +57.9% |
| 2016 | $7.10B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| TFX price data to Oct 28, 2026 | +14.8% | +7.6% | -7.3% | -16.1% | +0.4% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +14.8% |
| 2025 | -30.7% |
| 2024 | -28.2% |
| 2023 | +0.6% |
| 2022 | -23.6% |
| 2021 | -19.9% |
| 2020 | +9.8% |
| 2019 | +46.3% |
| 2018 | +4.5% |
| 2017 | +55.4% |
| 2016 | +23.7% |
| 2015 | +15.7% |
| 2014 | +23.9% |
| 2013 | +33.8% |
| 2012 | +18.9% |
| 2011 | +16.6% |
| 2010 | +2.3% |
| 2009 | +10.7% |
| 2008 | -18.6% |
| 2007 | -0.7% |
| 2006 | +1.2% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 41.4% over that stretch · deepest drop along the way 42.8%, back to its old high 45.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 42.9% over that stretch · deepest drop along the way 42.9%, back to its old high 4.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 44% over that stretch · deepest drop along the way 47.2%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (23 read): 0 open-market purchases and 0 sales ($0.00).
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 11.7% | Sep 30, 2025 |
| JANUS HENDERSON GROUP Ltd. | 10.3% | Aug 31, 2026 |
| JANUS HENDERSON GROUP PLC | 9.4% | Jun 30, 2025 |
| T. Rowe Price Investment Management, Inc. | 7.2% | Jun 30, 2026 |
| Vanguard Portfolio Management | 5.56% | Mar 31, 2026 |
| Vanguard Capital Management | 5.25% | Mar 31, 2026 |
| Morgan Stanley | 4.9% | Dec 31, 2025 |
| AQR Capital Management, LLC | 4.35% | Dec 31, 2025 |
ETFs with the most weight in TFX
| PSCH Invesco S&P SmallCap Health Care ETF | 4.42% |
| XHE SPDR S&P Health Care Equipment ETF | 1.83% |
| DSMC Distillate Small/Mid Cash Flow ETF | 1.25% |
| PINK Simplify Health Care ETF | 1.16% |
| IJS iShares S&P Small-Cap 600 Value ETF | 1.09% |
| SLYV SPDR S&P 600 Small Cap Value ETF | 1.08% |
| IHI iShares U.S. Medical Devices ETF | 0.78% |
| IJR iShares Core S&P Small-Cap ETF | 0.54% |
What could go wrong
- Big business overhaul may not pay off. Teleflex is restructuring and divesting units for $2.0 billion in cash. Its annual report (Form 10-K) warns this strategic transformation may not deliver the intended results and could harm the business.
- Leadership change at the top. The departure of chairman and CEO Liam Kelly was announced January 8, 2026, and Stuart Randle became interim CEO. The 10-K lists the ongoing CEO transition as a risk to the business.
- Sterilization disruptions could hit supply. Single-use devices must be sterilized before use. Disruptions at sterilization sites, or tighter rules on ethylene oxide, a widely used sterilizing gas, could interrupt supply and hurt results.
- Distributor destocking can dent sales. A significant portion of Teleflex's US revenue comes from distributors. When they draw down their own inventories, called destocking, Teleflex's sales can fall even if hospitals keep using the products.
- Heavy debt limits flexibility. Total debt was $2.81 billion against $300 million of cash and investments as of June 30, 2026. The 10-K warns this debt and its loan restrictions could limit the company's options.
- Pricing pressure and bigger competitors. Hospitals rely on insurers and government programs to pay for care, and those payers push for discounts and coverage limits. Larger competitors with more money and marketing muscle could also take market share.
Recent events
- Executive or board change; Investor presentation or announcement
- Other company announcement
- Quarterly results released; Investor presentation or announcement
- Acquisition or sale of assets completed; Investor presentation or announcement
- Major agreement signed; New debt or financial obligation
- Executive or board change
- Other company announcement
- Investor presentation or announcement; Other company announcement
- Major agreement signed; New debt or financial obligation
- Shareholder vote results
For income and retirement investors
Teleflex pays a small dividend that has not grown: $1.36 per share in each year from 2020 through 2025, a yield of 0.98% as of October 28, 2026. In 2025 it reported a net loss, and free cash flow (cash left after running the business and investing in equipment) was about $1.4 million, far short of the $60.3 million paid in dividends. The company warns dividends may not continue. It bought back $200 million of stock in 2024 and $300 million in 2025; shares outstanding fell 9.5% from October 2021 to August 2026.
The shares have fallen hard in downturns: 42.8% in the 2008 financial crisis, needing about 45 months to recover; 42.9% in the 2020 COVID crash, recovered in about four months; and 47.2% in 2022, a peak not regained as of October 28, 2026. By then the price was 58% below its level five years earlier. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Teleflex make money?
Teleflex makes money by selling medical devices, mostly single-use, to hospitals and healthcare providers through its own sales force and distributors. In the year ended December 31, 2025, its continuing businesses had $1.99 billion of revenue: 46% from vascular access products such as Arrow catheters and EZ-IO bone-access systems, 33% from interventional devices used in heart and blood-vessel procedures, and 21% from surgical products such as Weck clips. The US supplied 59% of revenue.
Does Teleflex raise its dividend every year?
No. Teleflex paid $1.36 per share in each year from 2020 through 2025, with no increase over that span, and the yield was 0.98% as of October 28, 2026. In 2025 the company reported a net loss, and free cash flow was only about $1.4 million against $60.3 million paid in dividends. Its annual report (Form 10-K) warns that it may not pay dividends in the future.
Why is Teleflex selling some of its businesses?
The sales are part of a strategic transformation Teleflex announced in February 2025. In December 2025 it agreed to divest its Acute Care and Interventional Urology businesses, which include the UroLift system for enlarged prostates, to Intersurgical Ltd for $530 million, and its OEM unit, which makes parts for other device makers, to Montagu and Kohlberg for about $1.5 billion. Both deals were expected to close in the second half of 2026. The remaining company focuses on vascular, interventional and surgical products.
Is Teleflex profitable?
Teleflex lost money in 2025 but earned a profit in the quarter ended June 30, 2026. For the year ended December 31, 2025, it reported a net loss of $905.6 million, or $20.25 per share, even though revenue rose 17.2% to $1.99 billion and operating income was $118.4 million. In the June 2026 quarter, net income was $99.7 million on revenue of $570.3 million; revenue was up 28.9% from a year earlier, while net income was down 18.7%.
How has Teleflex stock performed?
Poorly over five years. As of October 28, 2026, the share price was 58% below its level five years earlier, after calendar-year declines of 19.9% in 2021, 23.6% in 2022, 28.2% in 2024 and 30.7% in 2025. The price was up 14.8% for 2026 through that date and 7.6% over the prior year. Over ten years it rose just 4% in total.