Forensic Analysis · Medical Devices · as of Nov 9, 2026
Teleflex Inc (TFX)
A forensic read on Teleflex Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
3.6
Distress distance
Clean
Earnings quality
4
Forensic signals
-24.5%
ROE
17.2%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Teleflex Inc earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 3.6, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
1.7%
FY2025
Return on invested capital.Return on invested capital is 1.7% in the latest fiscal year, against 2.9% in FY2023, having run between 1.4% and 2.9% across FY2023–FY2025 with no direction held. After-tax operating profit was $200M in FY2023 and $107M in FY2025, with operating income at 15.1% of revenue in FY2023, 6.1% in FY2024 and 5.9% in FY2025. The capital base behind it came down -10% across FY2023–FY2025, from $6.8B to $6.1B, so this return is struck on a smaller base than it started on. FY2025's operating profit carried a $108M asset write-down and a $24M restructuring charge that alone took about 2.0 points off that year's return, so more than the whole 1.2-point fall across FY2023–FY2025 is that charge landing in the latest year rather than the capital earning less. FY2024's operating profit carried a $240M goodwill write-off, a $10M restructuring charge and a $8M asset write-down that alone took about 3.5 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it. A non-cash write-down lowers the reported return in the year it lands.
24915% of FCF
FY2025
Shareholder returns.Returned $360M to shareholders (buybacks + dividends) in FY2025 — 24915% of free cash flow. That is $359M (24815%) more than free cash flow covered, and more than operating cash flow as well. New debt covered it: total debt rose $986M over FY2025, while cash rose $131M. A payout past free cash flow draws the balance sheet down in every year it continues, which isn't sustainable indefinitely. Counting the $26M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 26692%.
$240M
FY2024
Goodwill impairments.Took $240M of goodwill writedowns across 1 year (FY2024 ($240M)) — about 344% of net income over the span. A large writedown means an acquisition turned out worth far less than was paid — a real mark against M&A discipline.
63d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 49 to 63 days FY2024→FY2025 (receivables +52% vs revenue +17%). Receivables are creeping up relative to sales. Across FY2023–FY2025 the day count ran 95 → 49 → 63 days, so the latest reading sits on top of a record that was flat or falling before it — one year's move, not a direction the business has been travelling in. Both figures are measured on period-end balances rather than the beginning-plus-ending average, because averaging needs the balance a year before every reading — FY2024's opening balance is on file, but across the 3 fiscal years read here (FY2023–FY2025) the average yields only 2 day counts (1 step), too few to tell a climb from one year's move.DSO (days sales outstanding): the average days the company waits to collect cash after a sale.
Key fundamentals
Latest Revenue$1.99B
Revenue Growth YoY+17.2%
Revenue CAGR (2yr)+7.9%
Net Margin-45.4%
Free Cash Flow$1.4M
Return on Equity-24.5%
Debt / Equity0.85x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Teleflex Inc's actual 10-K/10-Q/8-K filings?