Teleflex (TFX) FY2024 results: revenue $1.7 billion, down 0.8% on the year

Teleflex Inc. (TFX) reported revenue of $1.7 billion for fiscal 2024, the year ended 31 December 2024, down 0.8% on the year before. Net income was $70 million, down 80.4%, and diluted earnings per share $1.48. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2025.

Revenue

$1.7 billion

-0.8% on the year

FY2017FY2024

Operating margin

6.1%

15.1% a year earlier

FY2017FY2024

Net income

$70 million

-80.4% on the year

FY2017FY2024

Diluted EPS

$1.48

-80.3% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,700	1,712	2,791	-0.8%
Cost of revenue	662	672	1,260	-1.5%
Gross profit	1,037	1,040	1,531	-0.3%
Gross margin	61.0%	60.7%	54.9%
Research and development	109	114	154	-4.1%
Selling, general and administrative	675	623	864	+8.3%
Operating income	104	259	500	-59.9%
Operating margin	6.1%	15.1%	17.9%
Interest expense	83.5	85.1	54.3	-1.8%
Pre-tax income	26.3	185	446	-85.8%
Income tax	-30.9	41.9	83.0
Effective tax rate	-117.5%	22.6%	18.6%
Net income	69.7	356	363	-80.4%
Net margin	4.1%	20.8%	13.0%
Diluted EPS	$1.48	$7.53	$7.68	-80.3%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	636	511	342	+24.5%
Capital expenditure	90.4	46.4	79.2	+94.8%
Free cash flow	545	464	263	+17.5%
Free cash flow margin	32.1%	27.1%	9.4%
Cash from financing	-422	38.5	-218
Depreciation and amortisation	162	148	231	+9.1%
Share-based compensation	26.0	27.3	27.2	-4.9%
Buybacks	200	0.0	0.0
Dividends paid	63.5	63.9	63.8	-0.6%
Dividend per share	$1.36	$1.36	$1.36	0.0%
Diluted shares, weighted	47m	47m	47m	-0.4%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	4,278	4,441	4,022	-3.7%
Debt	1,656	1,815	1,712	-8.8%
Operating lease liabilities	88.0	111	120	-21.0%
Other liabilities	1,076	1,165	1,074	-7.7%
Total liabilities and equity	7,098	7,533	6,928	-5.8%
Fixed assets	308	480	447	-35.7%
Goodwill	1,992	2,914	2,537	-31.6%
Intangible assets	1,348	2,502	2,306	-46.1%
Cash and equivalents	248	223	292	+11.2%
Receivables	227	443	409	-48.9%
Inventory	307	626	579	-51.0%
Other assets	2,668	344	359	+675.2%
Total assets	7,098	7,533	6,928	-5.8%

10-K for the year ended 31 December 2024, filed 28 February 2025: the filing.