A Dark Vector Cognition product

Teledyne Technologies (TDY) risk factors: FY2025 10-K

Item 1A of the 10-K for the period ending 2025-12-28, filed 2026-02-20. 42 risk factor headings as filed. Read Item 1A in full · The whole 10-K · What changed since FY2024

1new since FY2024
4reworded
1removed
37unchanged

Headings mentioning a theme: Tariffs 1 · AI 1 · Cybersecurity 2 · China 1 · Interest rates 1. Compare across the S&P 500.

Risks Related to our Business and Industry

8
  1. A possible recession in the United States or globally may adversely affect us.
  2. Acquisitions and our ability to make acquisitions involve inherent risks that may adversely affect our operating results and financial condition.
  3. Increased prices for components and raw materials used in our products and higher labor and shipping costs could adversely impact our profitability.
  4. We have experienced component and raw material shortages in the past that impacted our ability to manufacture and ship all the product for which we have demand, and these constraints may continue in the future.
  5. We may not have sufficient resources to fund all future research and development and capital expenditures.
  6. We may be unable to successfully introduce new and enhanced products in a timely and cost-effective manner or increase our participation in new markets, which could harm our profitability and prospects.
  7. Increasing competition could reduce the demand for our products and services.
  8. Higher interest rates and other factors could cause our customers to reduce capital spending, which could adversely impact us.Interest rates

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Risks Related to International Operations

6
  1. We are subject to the risks associated with international sales and international operations, and events in those countries could harm our business or results of operations.
  2. Escalating global trade tensions and the adoption or expansion of tariffs and trade restrictions could negatively impact us.Tariffs
  3. New and expanding economic sanctions and export restrictions could impact our ability to sell our products.
  4. Global conflicts could lead to disruption, instability and volatility in global markets and industries that could negatively impact our operations.
  5. An economic slowdown in China may adversely affect us.rewordedChina
  6. In-country manufacturing could result in lower demand for our products.

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Risks Related to our Markets

6
  1. We sell products in markets that are cyclical in nature and a downturn in one or more of these markets could materially impact our financial results.
  2. Our revenue from U.S. Government contracts depends on the continued availability of funding from the U.S. Government, and, accordingly, we have the risk that funding for our existing contracts may be canceled or diverted to other uses or delayed or that funding for new programs will not be available. Similarly, sales to the European defense market depends on continued funding from European governments.
  3. Our U.S. Government contracting businesses are subject to government contracting regulations, including increasingly complex regulations on cybersecurity, and our failure to comply with such laws and regulations could harm our operating results and prospects.rewordedCybersecurity
  4. We generate revenue from companies in the oil and gas industry, especially the offshore oil and gas industry, a historically cyclical industry with levels of activity that are significantly affected by the levels and volatility of oil and gas prices, which has in the past impacted and can impact in the future our financial results.
  5. The airline industry is heavily regulated, and if we fail to comply with applicable requirements, our results of operations could suffer.
  6. A change in policy direction related to environmental regulations and green energy could negatively impact demand for our monitoring instruments and energy systems products.

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Risks related to Finance and Tax Matters

5
  1. Our indebtedness, and any failure to comply with our covenants that apply to our indebtedness, could materially and adversely affect our business.
  2. We may not be able to service our debt obligations, which could have a material and adverse effect on our business, financial condition or operating results.new
  3. The credit rating of Teledyne could be downgraded, which may increase borrowing costs.
  4. Higher tax rates may harm our results of operations and cash flow.
  5. Changes in future business conditions could cause business investments, goodwill and other long-lived assets to become impaired, resulting in significant losses and write-downs that would reduce our operating income.

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Risks related to climate change

3
  1. Climate change may disrupt or adversely impact our business.
  2. Regulations associated with climate change could adversely affect our business.
  3. Investor sentiment towards climate change and sustainability could adversely affect our business and the market price for our common stock.

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Risks related to Legal and Compliance Matters

4
  1. Adverse findings in matters related to export control practices, including FLIR’s historical practices, could materially impact us.
  2. We may not be able to enforce or protect our intellectual property rights, or third parties may claim we infringe their intellectual rights, each which may harm our ability to compete and thus harm our business.
  3. Product liability claims, product recalls and field service actions could have a material adverse effect on our reputation, business, results of operations and financial condition and we may have difficulty obtaining product liability and other insurance coverage.
  4. Failing to comply with increasing environmental regulations, as well as the effects of potential environmental liabilities, could have a material adverse financial effect on us.

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Other risks we face

7
  1. Natural and man-made disasters could adversely affect our business, results of operations and financial condition.
  2. Our business and operations could suffer in the event of cybersecurity breaches.Cybersecurity
  3. Issues in the development and use of AI may result in reputational harm or liability, and failure to introduce new and innovative products that have AI capabilities could put us at a competitive disadvantage.rewordedAI
  4. Our business may suffer if we are unable to attract and retain key personnel.
  5. Our business and financial results could be adversely affected by conditions and other factors associated with our suppliers and subcontractors.
  6. We face risks related to sales through distributors and other third parties which could harm our business.
  7. We may not be able to sell or reconfigure businesses, facilities or product lines that we determine no longer meet with our growth strategy or that should be consolidated.

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Risks related to Corporate Governance Matters

2
  1. Provisions of our governing documents, applicable law, and our Change in Control Severance Agreements could make an acquisition of Teledyne more difficult.
  2. Our Fifth Amended and Restated Bylaws (“Bylaws”) designate the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain lawsuits between us and our stockholders, which could limit our stockholders’ ability to obtain a judicial forum that it finds favorable for such lawsuits and make it more costly for our stockholders to bring such lawsuits, which may have the effect of discouraging such lawsuits.reworded

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Risks Related to Our Securities

1
  1. An investment in Teledyne’s common stock and other securities involve risks, many of which are beyond our control.

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No longer in Item 1A

1

Headings in the FY2024 10-K with no match this year.

  1. We may not be able to service our debt obligations.

Headings are the lines of Item 1A set wholly in bold or italics, as the parser reads them, without the introductory paragraph that opens the section. A heading is new when no heading in the prior 10-K matches it after ignoring case and punctuation, and reworded when it shares at least 60 percent of its words with one that went away. Source: the filing on sec.gov.