Despite significant revenue volatility, the company maintained a resilient 56.1% gross margin in 2026Q1, suggesting that its proprietary medical device portfolio retains substantial pricing power.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 2.81B | 1.99B | 3.05B | 2.97B | 2.79B | 2.81B | 2.54B | 2.6B | 2.45B | 2.15B | 1.87B | 1.81B | 1.84B | 1.7B | 1.55B | 1.53B | 1.8B | 1.89B | 2.42B | 1.93B | 2.65B | 2.51B | 2.49B | 2.28B | 2.08B | 1.91B | 1.76B | 1.6B | 1.44B | 1.15B | 931.2M |
| Revenue Growth % | -6.61% | -34.61% | 2.45% | 6.57% | -0.66% | 10.74% | -2.24% | 6% | 14.07% | 14.9% | 3.22% | -1.64% | 8.46% | 9.37% | 1.45% | -15.14% | -4.67% | -21.93% | 25.16% | -26.92% | 5.26% | 1.17% | 8.89% | 9.93% | 8.99% | 7.96% | 10.2% | 11.37% | 25.47% | 23.05% | 2.03% |
| Cost of Goods Sold | 1.31B | 871.96M | 1.34B | 1.33B | 1.26B | 1.26B | 1.21B | 1.19B | 1.06B | 974.5M | 871.83M | 865.29M | 897.4M | 857.33M | 802.78M | 810.07M | 1.01B | 1.08B | 1.46B | 1.25B | 1.87B | 1.8B | 1.79B | 1.68B | 1.52B | 1.37B | 1.2B | 1.09B | 969.6M | 746.9M | 601.4M |
| COGS % of Revenue | - | 43.76% | 44.13% | 44.63% | 45.14% | 44.85% | 47.78% | 45.71% | 43.45% | 45.4% | 46.67% | 47.81% | 48.78% | 50.54% | 51.76% | 52.98% | 55.93% | 56.93% | 60.17% | 64.83% | 70.75% | 71.77% | 71.88% | 73.81% | 73.39% | 71.9% | 67.83% | 67.98% | 67.45% | 65.19% | 64.58% |
| Gross Profit | 1.5B | 1.12B | 1.7B | 1.65B | 1.53B | 1.55B | 1.32B | 1.41B | 1.38B | 1.17B | 996.2M | 944.4M | 942.43M | 838.95M | 748.23M | 718.84M | 794.07M | 814.08M | 964.17M | 680.35M | 774.19M | 709.95M | 698.8M | 597.79M | 552.45M | 535.29M | 567.7M | 512.6M | 468M | 398.9M | 329.8M |
| Gross Margin % | 53.27% | 56.24% | 55.87% | 55.37% | 54.86% | 55.15% | 52.22% | 54.29% | 56.55% | 54.6% | 53.33% | 52.19% | 51.22% | 49.46% | 48.24% | 47.02% | 44.07% | 43.07% | 39.83% | 35.17% | 29.25% | 28.23% | 28.12% | 26.19% | 26.61% | 28.1% | 32.17% | 32.02% | 32.55% | 34.81% | 35.42% |
| Gross Profit Growth % | - | -34.18% | 3.38% | 7.57% | -1.19% | 16.96% | -5.97% | 1.77% | 18.15% | 17.63% | 5.48% | 0.21% | 12.33% | 12.12% | 4.09% | -9.47% | -2.46% | -15.57% | 41.72% | -12.12% | 9.05% | 1.6% | 16.9% | 8.21% | 3.21% | -5.71% | 10.75% | 9.53% | 17.32% | 20.95% | 2.3% |
| Operating Expenses | 1.32B | 864.95M | 1.55B | 1.14B | 1.03B | 921.51M | 901.81M | 981.75M | 984.9M | 784.73M | 621.89M | 621.1M | 639.7M | 567.23M | 510.77M | 478.58M | 517.6M | 522.52M | 624.18M | 445.25M | 494.35M | 434.82M | 491.7M | -1.51B | 346.12M | 347.13M | 388.69M | 352.1M | 326.2M | 278.1M | 229.1M |
| OpEx % of Revenue | - | 43.41% | 50.92% | 38.35% | 36.95% | 32.8% | 35.54% | 37.83% | 40.23% | 36.56% | 33.29% | 34.32% | 34.77% | 33.44% | 32.93% | 31.3% | 28.73% | 27.65% | 25.78% | 23.02% | 18.68% | 17.29% | 19.78% | -66.02% | 16.67% | 18.22% | 22.03% | 21.99% | 22.69% | 24.27% | 24.6% |
| Selling, General & Admin | 945.23M | 720.17M | 995.27M | 929.87M | 863.75M | 860.09M | 743.57M | 851.77M | 878.69M | 699.96M | 563.31M | 568.98M | 578.66M | 502.19M | 454.49M | 429.26M | 475.32M | 519.92M | 596.77M | 445.25M | 493.52M | 449.04M | 494.43M | 423.03M | 365.02M | 347.13M | 311.28M | 284.7M | 266.1M | 230.2M | 190.3M |
| SG&A % of Revenue | - | 36.14% | 32.66% | 31.26% | 30.95% | 30.61% | 29.31% | 32.82% | 35.89% | 32.61% | 30.16% | 31.44% | 31.45% | 29.61% | 29.3% | 28.08% | 26.38% | 27.51% | 24.65% | 23.02% | 18.65% | 17.86% | 19.89% | 18.53% | 17.58% | 18.22% | 17.64% | 17.78% | 18.51% | 20.09% | 20.44% |
| Research & Development | 188.87M | 144.78M | 161.67M | 154.35M | 153.82M | 130.84M | 119.75M | 113.86M | 106.21M | 84.77M | 58.58M | 52.12M | 61.04M | 65.05M | 56.28M | 48.73M | 42.62M | 0 | 0 | 30M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 7.27% | 5.31% | 5.19% | 5.51% | 4.66% | 4.72% | 4.39% | 4.34% | 3.95% | 3.14% | 2.88% | 3.32% | 3.83% | 3.63% | 3.19% | 2.37% | - | - | 1.55% | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 3M | 0 | 394.72M | 56.4M | 13.79M | -69.42M | 38.49M | 16.13M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 582K | -341K | 2.6M | 2.34M | 0 | 838K | -14.22M | -2.73M | -1.93B | -18.9M | 0 | 77.42M | 67.4M | 60.1M | 47.9M | 38.8M |
| Operating Income | 182.14M | 255.8M | 151.01M | 506.31M | 499.73M | 628.1M | 423.07M | 427.25M | 321.7M | 372.28M | 319.45M | 315.89M | 284.86M | 233.26M | -97.38M | 233.17M | 273.59M | 269.77M | 339.99M | 192.64M | 254.61M | 248.07M | 139.49M | 2.1B | 206.33M | 188.16M | 179M | 160.5M | 141.8M | 120.8M | 100.7M |
| Operating Margin % | 6.48% | 12.84% | 4.96% | 17.02% | 17.9% | 22.36% | 16.67% | 16.46% | 13.14% | 17.35% | 17.1% | 17.46% | 15.48% | 13.75% | -6.28% | 15.25% | 15.19% | 14.27% | 14.04% | 9.96% | 9.62% | 9.87% | 5.61% | 92.21% | 9.94% | 9.88% | 10.14% | 10.02% | 9.86% | 10.54% | 10.81% |
| Operating Income Growth % | - | 69.39% | -70.17% | 1.32% | -20.44% | 48.46% | -0.98% | 32.81% | -13.59% | 16.54% | 1.13% | 10.89% | 22.12% | 339.55% | -141.76% | -14.77% | 1.42% | -20.65% | 76.49% | -24.34% | 2.64% | 77.84% | -93.37% | 920.02% | 9.66% | 5.12% | 11.53% | 13.19% | 17.38% | 19.96% | 9.1% |
| EBITDA | 329.16M | 433.54M | 425.61M | 748.43M | 730.32M | 865.46M | 650.32M | 641.32M | 531.68M | 527.54M | 437.36M | 424.28M | 396M | 326.24M | -16.91M | 318.79M | 365.78M | 370.82M | 451.21M | 271.4M | 353.62M | 348.92M | 254.08M | 2.21B | 301.45M | 280.56M | 256.42M | 227.9M | 201.9M | 168.7M | 139.5M |
| EBITDA Margin % | 11.71% | 21.76% | 13.97% | 25.16% | 26.17% | 30.8% | 25.63% | 24.71% | 21.72% | 24.58% | 23.41% | 23.45% | 21.52% | 19.23% | -1.09% | 20.85% | 20.3% | 19.62% | 18.64% | 14.03% | 13.36% | 13.88% | 10.22% | 96.78% | 14.52% | 14.73% | 14.53% | 14.23% | 14.04% | 14.72% | 14.98% |
| EBITDA Growth % | -40.93% | 1.86% | -43.13% | 2.48% | -15.62% | 33.08% | 1.4% | 20.62% | 0.79% | 20.62% | 3.08% | 7.14% | 21.38% | 2029.6% | -105.3% | -12.85% | -1.36% | -17.81% | 66.25% | -23.25% | 1.35% | 37.33% | -88.5% | 632.79% | 7.44% | 9.42% | 12.51% | 12.88% | 19.68% | 20.93% | 7.31% |
| D&A (Non-Cash Add-back) | 167.64M | 177.74M | 274.6M | 242.12M | 230.59M | 237.36M | 227.25M | 214.06M | 209.98M | 155.26M | 117.91M | 108.39M | 111.13M | 92.98M | 80.47M | 85.62M | 92.19M | 101.06M | 111.22M | 78.76M | 99M | 100.85M | 114.59M | 104.35M | 95.12M | 92.4M | 77.42M | 67.4M | 60.1M | 47.9M | 38.8M |
| EBIT | -256.11M | 124.78M | 159.02M | 519.09M | 500.18M | 616.44M | 424.23M | 420.17M | 322.65M | 367.46M | 300.67M | 305.97M | 285.57M | 232.63M | -95.8M | 203.25M | 210.52M | 252.72M | 342.62M | 235.1M | 210.2M | 183.28M | 201.87M | 204.19M | 215.11M | 188.16M | 179M | 160.47M | 141.78M | 120.8M | 100.7M |
| Net Interest Income | -105.82M | -93.82M | -75.53M | -72.3M | -53.35M | -55.64M | -65.34M | -78.53M | -102.08M | -81.78M | -54.47M | -60.79M | -64.75M | -56.28M | -67.99M | -69.06M | -79.07M | -86.93M | -119.32M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 7.37M | 6.4M | 8.01M | 12.78M | 912K | 1.33M | 1.16M | 1.74M | 944K | 771K | 474K | 532K | 706K | 624K | 1.57M | 1.26M | 861K | 2.54M | 2.63M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 113.19M | 100.22M | 83.54M | 85.08M | 54.26M | 56.97M | 66.49M | 80.27M | 103.02M | 82.55M | 54.94M | 61.32M | 65.46M | 56.91M | 69.56M | 70.32M | 80.03M | 89.46M | 121.65M | 0 | 0 | 0 | 37.12M | 26.34M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -501.72M | -231.25M | -75.53M | -72.3M | -53.81M | -68.63M | -65.34M | -87.35M | 23.2M | -87.37M | -73.73M | -71.25M | -64.75M | -57.53M | -181.78M | -84.47M | -82.5M | -86.92M | -119.01M | -83.29M | -35.93M | -39.67M | -42.35M | -23.27M | -33.84M | -28.46M | -20.79M | -17.77M | -16.98M | -14.4M | -13.9M |
| Pretax Income | -319.58M | 24.55M | 75.48M | 434.01M | 445.92M | 559.47M | 357.73M | 339.9M | 219.63M | 284.91M | 245.72M | 244.65M | 220.11M | 175.73M | -165.37M | 148.7M | 147.79M | 182.85M | 220.98M | 109.35M | 219.03M | 207.91M | 102.37M | 151.49M | 172.49M | 159.69M | 158.21M | 142.7M | 124.8M | 106.4M | 86.8M |
| Pretax Margin % | -11.37% | 1.23% | 2.48% | 14.59% | 15.98% | 19.91% | 14.1% | 13.1% | 8.97% | 13.27% | 13.15% | 13.52% | 11.96% | 10.36% | -10.66% | 9.73% | 8.2% | 9.67% | 9.13% | 5.65% | 8.28% | 8.27% | 4.12% | 6.64% | 8.31% | 8.38% | 8.97% | 8.91% | 8.68% | 9.29% | 9.32% |
| Income Tax | -24.9M | -33.98M | 5.32M | 76.44M | 83M | 74.35M | 21.93M | -122.08M | 23.2M | 129.65M | 8.07M | 7.84M | 28.65M | 23.55M | 16.41M | 27M | 21.89M | 39.9M | 52.17M | 122.77M | 54.14M | 47.81M | 14.35M | 42.39M | 47.22M | 47.38M | 48.99M | 47.5M | 42.2M | 36.3M | 29.6M |
| Effective Tax Rate % | 7.79% | -138.38% | 7.04% | 17.61% | 18.61% | 13.29% | 6.13% | -35.92% | 10.56% | 45.5% | 3.29% | 3.2% | 13.02% | 13.4% | -9.93% | 18.16% | 14.81% | 21.82% | 23.61% | 112.27% | 24.72% | 22.99% | 14.02% | 27.98% | 27.38% | 29.67% | 30.96% | 33.29% | 33.81% | 34.12% | 34.1% |
| Net Income | -1.01B | -905.64M | 69.67M | 356.33M | 363.14M | 485.37M | 335.32M | 461.47M | 200.8M | 152.53M | 237.38M | 244.86M | 187.68M | 150.88M | -190.06M | 323.33M | 201.09M | 302.99M | 119.77M | 146.48M | 139.43M | 138.82M | 9.52M | 109.1M | 125.27M | 112.31M | 109.22M | 95.2M | 82.6M | 70.1M | 57.2M |
| Net Margin % | -35.89% | -45.45% | 2.29% | 11.98% | 13.01% | 17.28% | 13.22% | 17.78% | 8.2% | 7.11% | 12.71% | 13.53% | 10.2% | 8.89% | -12.25% | 21.15% | 11.16% | 16.03% | 4.95% | 7.57% | 5.27% | 5.52% | 0.38% | 4.78% | 6.03% | 5.9% | 6.19% | 5.95% | 5.75% | 6.12% | 6.14% |
| Net Income Growth % | -775.29% | -1399.81% | -80.45% | -1.88% | -25.18% | 44.75% | -27.34% | 129.81% | 31.65% | -35.74% | -3.06% | 30.47% | 24.39% | 179.39% | -158.78% | 60.78% | -33.63% | 152.97% | -18.23% | 5.06% | 0.44% | 1358.62% | -91.28% | -12.9% | 11.53% | 2.83% | 14.73% | 15.25% | 17.83% | 22.55% | 16.97% |
| Net Income (Continuing) | -294.68M | 58.53M | 70.16M | 357.57M | 362.92M | 485.12M | 335.8M | 461.98M | 196.43M | 155.26M | 237.65M | 236.81M | 191.46M | 152.18M | -181.78M | 121.7M | 125.91M | 142.94M | 168.81M | -13.42M | 164.89M | 160.11M | 84.34M | 118.2M | 126.18M | 112.31M | 109.22M | 95.2M | 82.6M | 70.1M | 57.2M |
| Discontinued Operations | -2.02M | -964.17M | -487K | -1.24M | 223K | 255K | -477K | -515K | 4.37M | 0 | 190K | 8.9M | 0 | 0 | 0 | -2.38M | 76.55M | 171.07M | -70.69M | -28.95M | -68.8M | -72.46M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.82M | 2.39M | 2.49M | 2.59M | 2.19M | 3.9M | 4.83M | 39.43M | 42.18M | 42.06M | 17.4M | 65.48M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -22.79 | -20.25 | 1.48 | 7.53 | 7.68 | 10.23 | 7.09 | 9.80 | 4.29 | 3.27 | 4.98 | 5.10 | 4.04 | 3.45 | -4.65 | 7.92 | 4.99 | 7.59 | 3.01 | 3.73 | 3.49 | 3.39 | 0.24 | 2.73 | 3.08 | 2.86 | 2.83 | 2.47 | 2.15 | 1.86 | 1.58 |
| EPS Growth % | -819.24% | -1468.24% | -80.35% | -1.95% | -24.93% | 44.29% | -27.65% | 128.44% | 31.19% | -34.34% | -2.35% | 26.24% | 17.1% | 174.19% | -158.71% | 58.72% | -34.26% | 152.16% | -19.3% | 6.88% | 2.95% | 1312.5% | -91.21% | -11.36% | 7.69% | 1.06% | 14.57% | 14.88% | 15.59% | 17.72% | 14.49% |
| EPS (Basic) | - | -20.30 | 1.49 | 7.58 | 7.74 | 10.38 | 7.21 | 9.99 | 4.39 | 3.39 | 5.48 | 5.89 | 4.54 | 3.67 | -4.65 | 7.98 | 5.04 | 7.63 | 3.03 | 3.73 | 3.51 | 3.43 | 0.24 | 2.76 | 3.12 | 2.90 | 2.86 | 2.52 | 2.21 | 1.91 | 1.58 |
| Diluted Shares Outstanding | 44.26M | 44.72M | 47.09M | 47.3M | 47.31M | 47.43M | 47.29M | 47.09M | 46.8M | 46.66M | 47.65M | 48.06M | 46.47M | 43.69M | 40.86M | 40.8M | 40.28M | 39.94M | 39.83M | 39.26M | 39.99M | 40.96M | 40.49M | 39.94M | 40.67M | 39.27M | 38.6M | 38.54M | 38.42M | 37.69M | 36.2M |
| Basic Shares Outstanding | 44.26M | 44.62M | 46.84M | 46.98M | 46.9M | 46.77M | 46.49M | 46.2M | 45.69M | 45M | 43.33M | 41.56M | 41.37M | 41.1M | 40.86M | 40.5M | 39.91M | 39.72M | 39.58M | 39.26M | 39.76M | 40.52M | 40.2M | 39.6M | 40.15M | 38.73M | 38.19M | 37.78M | 37.38M | 36.7M | 36.2M |
| Dividend Payout Ratio | - | - | 91.2% | 17.93% | 17.57% | 13.11% | 18.85% | 13.61% | 30.96% | 40.15% | 24.84% | 23.09% | 29.98% | 37.06% | - | 17.05% | 27.01% | 17.83% | 44.29% | 33.4% | 31.63% | 28.33% | 363.3% | 28.3% | 22.24% | 22.78% | 20.29% | 20.06% | 20.1% | 20.4% | 21.15% |
UroLift market saturation risk
As reported in recent financial filings, Teleflex experienced a significant revenue contraction of 21.8% in 2026Q1, a trend largely influenced by the strategic divestiture of its respiratory business rather than a fundamental collapse in the core vascular and interventional product demand across its global hospital footprint.
The headline decline obscures the underlying performance of the company's core procedural disposables, which typically exhibit more stability than the reported figures suggest. Investors should monitor whether the remaining portfolio can achieve organic growth as the company pivots away from legacy assets toward higher-margin interventional segments.
Based on the latest income statement data, Teleflex maintained a gross margin of 56.1% in 2026Q1, demonstrating that the company's proprietary medical device portfolio retains significant pricing power despite the recent portfolio restructuring and the associated volatility in reported net income figures across the last ten quarters.
The stability of gross margins suggests that the company's clinical entrenchment in vascular access remains a robust defense against commodity-based pricing pressures. This margin profile appears to be a structural feature of the business, provided that the mix-shift toward interventional urology continues to offset potential inflationary pressures on raw materials.
According to historical income statements, Teleflex's net income has been severely impacted by non-recurring charges, including a massive $714.3 million loss in 2025Q4, which suggests that reported EPS figures are currently poor indicators of the company's underlying operational profitability and long-term cash generation capabilities.
The divergence between operating income and net income warrants careful investigation into the nature of these impairment charges, which appear to be tied to the respiratory divestiture. Analysts should focus on adjusted operating metrics to determine if the core business is successfully transitioning to a more efficient, higher-margin operating model.
As indicated by the most recent quarterly data, SG&A expenses of $226.0 million continue to represent a substantial portion of revenue, suggesting that management faces ongoing challenges in scaling operating expenses effectively following the recent portfolio pruning and the integration of specialized interventional product sales forces.
The high fixed-cost nature of the specialized sales force appears to be a double-edged sword, providing clinical support that drives adoption but limiting operating leverage during periods of revenue volatility. Future margin expansion will likely depend on the company's ability to optimize this cost structure as the UroLift platform matures.
Based on an analysis of recent performance, the market's skepticism regarding Teleflex's growth trajectory appears rooted in the potential saturation of the U.S. Interventional Urology market, which may limit the company's ability to sustain the high-margin growth rates previously expected from the NeoTract acquisition.
If the UroLift platform fails to gain significant international traction, the company may struggle to justify its current valuation, as the legacy vascular business is unlikely to provide the necessary growth acceleration. Investors should monitor whether management's capital allocation strategy shifts toward new M&A to address this potential growth gap.
Quick answers to the most common questions about buying TFX stock.
For fiscal year 2025, Teleflex Incorporated (TFX) reported total revenue of $1.99B. This represents a 114.0% increase compared to $931.2M in 1996.
Teleflex Incorporated (TFX) reported a net loss of $905.6M for the fiscal year ending 2025.
Teleflex Incorporated (TFX) reported an operating income of $255.8M, resulting in an operating profit margin of 12.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Teleflex Incorporated (TFX) generated $1.12B in gross profit for the year, representing a gross profit margin of 56.2%. This demonstrates the company's core pricing power and production efficiency.