Teleflex (TFX) FY2025 results: revenue $2.0 billion, up 17.2% on the year
Teleflex Inc. (TFX) reported revenue of $2.0 billion for fiscal 2025, the year ended 31 December 2025, up 17.2% on the year before. Net income was -$906 million, and diluted earnings per share $-20.25. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2026.
Revenue
$2.0 billion
+17.2% on the year
FY2018FY2025
Operating margin
5.9%
6.1% a year earlier
FY2018FY2025
Net income
-$906 million
FY2018FY2025
Diluted EPS
-$20.25
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 16 new.
Full-year GAAP revenue rose 17.2%: Continuing-operations GAAP revenue was $1,992.7 million for 2025. Adjusted revenue was $1,983.7 million, up 16.3%, or 15.4% on an adjusted constant currency basis.
Fourth-quarter GAAP loss per share: Fourth-quarter GAAP revenue was $569.0 million, up 28.7%. Continuing operations reported a $(0.08) diluted loss per share, against $0.77. Net loss including discontinued operations was $(714.3) million.
Q4 adjusted gross and operating margins fell: Q4 adjusted gross margin was 62.8%, against 65.8%. Adjusted R&D was 8.3% of revenue, against 6.3%. Adjusted operating margin was 21.5%, against 25.9%. Adjusted diluted EPS was $1.93, against $1.91.
Repurchase authorization and divestiture proceeds: Management cites a current $1 billion share repurchase authorization and an estimated $1.8 billion in after-tax proceeds from the strategic divestitures. Debt paydown is intended from those proceeds.
Three businesses moved to discontinued operations: Acute Care, Interventional Urology and OEM were classified as discontinued operations in Q4 2025, following agreements to divest them. The company calls these the Strategic Divestitures.
$ million except per share. Read moreFree 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
341
636
511
-46.4%
Capital expenditure
95.2
90.4
46.4
+5.3%
Free cash flow
245
545
464
-55.0%
Free cash flow margin
12.3%
32.1%
27.1%
Cash from financing
612
-422
38.5
Depreciation and amortisation
178
162
148
+10.0%
Share-based compensation
25.7
26.0
27.3
-1.0%
Buybacks
300
200
0.0
+50.0%
Dividends paid
60.3
63.5
63.9
-5.2%
Dividend per share
$1.36
$1.36
$1.36
0.0%
Diluted shares, weighted
45m
47m
47m
-5.0%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
3,125
4,278
4,441
-27.0%
Debt
2,641
1,656
1,815
+59.5%
Operating lease liabilities
84.2
88.0
111
-4.3%
Other liabilities
1,097
1,076
1,165
+1.9%
Total liabilities and equity
6,947
7,098
7,533
-2.1%
Fixed assets
498
308
480
+61.5%
Goodwill
2,305
1,992
2,914
+15.7%
Intangible assets
1,524
1,348
2,502
+13.0%
Cash and equivalents
379
248
223
+52.7%
Receivables
346
227
443
+52.4%
Inventory
404
307
626
+31.8%
Other assets
1,491
2,668
344
-44.1%
Total assets
6,947
7,098
7,533
-2.1%
10-K for the year ended 31 December 2025, filed 27 February 2026: the filing.