Teledyne Technologies
36 named things its latest annual report says its results depend on, each in the company's own words. 24 of them are also named by other companies we've read.
Customers
U.S. Government
earns from · 25.5%named as a riskSales under contracts with the U.S. Government, including sales under contracts with the U.S. Department of War, as prime contractor or subcontractor, represented 25% and 24% of our total net sales in 2025 and 2024, respectively.Risk factors (Item 1A)
Also named by ADI, AIR, APH, ASTS, ATI, AVAV, AWK, BA and 46 more
U.S. Department of War
earns from · $1,203.6 millionnamed as a riskOur principal U.S. Government customer is the U.S. Department of War (formerly referred to as the U.S. Department of Defense), with total net sales of $1,203.6 million and $1,062.7 million in 2025 and 2024, respectively.Business (Item 1)
Also named by AIR, BA, CACI, CDRE, CVLG, GD, HII, LHX and 4 more
Boeing
earns fromnamed as a riskAny future pauses or reductions in manufacturing from Boeing or Airbus could negatively impact our business.Risk factors (Item 1A)
Airbus
earns fromnamed as a riskChanges in production rates for major aircraft manufacturers, like Boeing and Airbus, impact our commercial aerospace businesses.Risk factors (Item 1A)
NASA
earns fromnamed as a riskBudget cuts at NASA have negatively impacted the revenues of Engineered Systems in 2025 and are expected to further impact revenues in 2026.Risk factors (Item 1A)
European defense market
earns fromnamed as a riskIf European government funding on defense programs declines, or if defense spending priorities of the North Atlantic Treaty Organization (“NATO”)-member countries change with respect to Ukraine, existing and potential future sales would be negatively impacted.Risk factors (Item 1A)
Suppliers
Teledyne FLIR components operation
depends onnamed as a riskTeledyne FLIR’s components operation is a single source supplier of certain sensors used throughout the FLIR business, and a disruption in business due to a disaster could have a material adverse impact on the businesses of Teledyne FLIR.Risk factors (Item 1A)
Other companies
U.S. Government shutdown
43 daysnamed as a riskGovernment lasted 43 days and resulted in delays in contract awards, issuances of export licenses, shipments and payments of invoices for several of our businesses; any new shutdown or increase in the frequency of shutdowns could have similar or worse effects.Risk factors (Item 1A)
Places
China
earns from · approximately 4% of total revenuesnamed as a riskOur net sales to China-based customers represented approximately 4% of total revenues in 2025 and 2024, respectively.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
United Kingdom
earns from · approximately 20% of our total net salesIn 2025, the top five countries for sales to international customers, ranked by net sales, were the UK, Germany, Japan, China and France and represented approximately 20% of our total net sales.Risk factors (Item 1A)
Also named by AGX, AJG, AMP, BAC, BF/B, BGC, BRO, C and 59 more
China
depends onnamed as a riskMany key suppliers to our businesses, whether direct or indirect, are based in China.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Taiwan
depends onnamed as a riskA military conflict between China and Taiwan would likely have a material adverse impact on our ability to sell products to customers in these areas and on our supply chain.Risk factors (Item 1A)
Also named by AAOI, AAPL, AB, ADI, AEHR, ALAB, AMAT, AMD and 50 more
California
concentrated innamed as a riskMany of our production facilities and our headquarters are located in California and thus are in areas with above average seismic activity and may also be at risk of damage due to wildfire or mudslides.Risk factors (Item 1A)
Also named by A, AAON, AFRM, ALK, ALLY, AN, ARE, AVAV and 88 more
United Kingdom
operates innamed as a riskStarting in December 2022, a series of direct-action protests by political extremists on several of our facilities in the UK have resulted in trespass and vandalism and in some cases caused damage to our facilities and interrupted some productions lines for a period of time.Risk factors (Item 1A)
Also named by AGX, AJG, AMP, BAC, BF/B, BGC, BRO, C and 59 more
Hazards
Hurricanes
operates innamed as a riskOur businesses located in Houston, Texas and Daytona Beach, Florida have been impacted in the past by hurricanes.Risk factors (Item 1A)
Also named by AIG, AN, ASO, BAC, BBY, BJ, BPOP, BRO and 89 more
Earthquakes
concentrated innamed as a riskMany of our production facilities and our headquarters are located in California and thus are in areas with above average seismic activity and may also be at risk of damage due to wildfire or mudslides.Risk factors (Item 1A)
Also named by AAPL, AMKR, AN, ANET, APP, BRO, CDNS, CEG and 37 more
Ice storms
operates innamed as a riskTeledyne’s facilities in Quebec, Canada have been impacted by loss of electrical power caused by severe ice storms.Risk factors (Item 1A)
Commodities and inputs
Crude oil and natural gas
exposed to its pricenamed as a riskAny prolonged reduction in the overall level of offshore oil and gas exploration and development activities, whether resulting from changes in oil and gas prices or otherwise, could materially and adversely affect our financial condition and the results of our businesses within our Instrumentation segment.Risk factors (Item 1A)
Gallium and germanium
depends onnamed as a riskIn response, China has unveiled restrictions on exports from China of certain materials and components, including gallium and germanium and which are used in semiconductor manufacturing and permanent magnets and which have impactedRisk factors (Item 1A)
Also named by ANET
Rare earth minerals and permanent magnets
depends onnamed as a riskChina has also restricted the export of certain rare earth minerals and permanent magnets that are used in our products, which has in the past delayed and could in the future limit our ability to sell products that require these components or result in lower margins products that incorporate these components.Risk factors (Item 1A)
Regulators
U.S. Environmental Protection Agency
named as a riskThe Presidential Administration scaled back many of these regulations, which could result in decreased demand for our products, especially if funding from individual states do not make up for the shortfall in federal funding.Risk factors (Item 1A)
Also named by AAON, AAP, ALSN, AMRC, APA, APD, APG, AROC and 78 more
Federal Aviation Administration (FAA)
subject tonamed as a riskIf any material authorization or approval qualifying us to supply our products is revoked or suspended, then sale of the product would be prohibited by law, which would have an adverse effect on our business, financial condition and results of operations.Risk factors (Item 1A)
Also named by ACHR, AIR, ALK, AMT, AVAV, BA, BRK/B, CCI and 27 more
Bureau of Industry and Security (BIS)
subject tonamed as a riskWe have made other voluntary disclosures to the U.S. Department of State and the U.S. Department of Commerce, including to the Bureau of Industry and Security (“BIS”) with respect to Teledyne FLIR shipments of products from non-U.S. jurisdictions which were not licensed due to incorrect de minimis calculation methodology under the Export Administration Regulations.Risk factors (Item 1A)
Also named by AAOI, AMD, APH, CRWV, EXTR, GLW, GTLB, LITE and 5 more
U.S. Department of State DDTC / ITAR
subject tonamed as a riskEffective April 24, 2022, the United States Department of State’s Office of Defense Trade Controls Compliance (“DDTC”) closed the four-year Consent Agreement that had been entered into by FLIR Systems, Inc., to resolve various export allegations under the International Traffic in Arms Regulations (“ITAR”).Risk factors (Item 1A)
Laws and programs
U.S. Government fixed-price contracts
subject to · approximately 81%named as a riskIn 2025, approximately 81% of our U.S. Government prime contracts and subcontracts were fixed-price type contracts, compared with 78% in 2024, with the remaining U.S. Government contracts related to cost-reimbursable contracts (“cost-type”) contracts.Business (Item 1)
Export Administration Regulations (EAR)
subject tonamed as a riskIn particular, U.S. export enforcement agencies have placed several Chinese companies and many of their international subsidiaries on such lists, prohibiting the export to them of most commercial and dual-use items subject to the Export Administration Regulations.Risk factors (Item 1A)
Also named by ADI, ALAB, AMD, APP, ARW, AVGO, CARR, CDRE and 40 more
U.S. tariffs on imports
subject tonamed as a riskWe have significant operations in Canada and in member states of the EU, which could be negatively impacted by a trade war with the United States.Risk factors (Item 1A)
Also named by AAP, ABT, ALLY, ATR, AZO, BBW, BWA, CMG and 19 more
Cybersecurity Maturity Model Certification (CMMC)
subject tonamed as a riskThe Department of War as well as other U.S. Government contracting agencies have adopted rules and regulations requiring contractors to implement a set of cybersecurity measures to attain the safeguarding of contractor systems that process, store, or transmit certain information.Risk factors (Item 1A)
Also named by ADI, AVAV, BWXT, GE, HEI, HLIO, HON, HWM and 15 more
Russia sanctions
subject tonamed as a riskSanctions on Russia imposed by multiple countries and related Teledyne policies have led to a comprehensive ban on commercial activity with that market.Risk factors (Item 1A)
Also named by ACN, AIR, BAM, BF/B, CW, DASH, DIS, GIS and 5 more
Price-Anderson Nuclear Industries Indemnity Act
subject tonamed as a riskCertain liabilities associated with such products are covered by the Price-Anderson Nuclear Industries Indemnity Act and other statutory and common law defenses, and we have received indemnities from some of our customers.Risk factors (Item 1A)
Also named by NOC
China Unreliable Entity List / Export Control List
subject tonamed as a riskChina has also increased sanctions on certain specific U.S. companies, including two Teledyne legal entities, by adding them to its Unreliable Entity List or Export Control List, which has impacted the ability of some Teledyne subsidiaries (including those not so listed) to conduct business in China.Risk factors (Item 1A)
Executive order on defense contractor buybacks and dividends
subject tonamed as a riskDepending on its implementation and application to us, the executive order could have a material adverse impact on our ability to make stock repurchases or issue dividends and continue to attract and retain executive talent.Risk factors (Item 1A)
Teledyne Battery Products lead acid batteries in California
subject tonamed as a riskOur Teledyne Battery Products unit makes lead acid batteries in California and is subject to a variety of environmental regulations and inspections, which have increased over time.Risk factors (Item 1A)
In-country manufacturing requirements (China, India, Saudi Arabia)
subject tonamed as a riskMany countries, including China, India and Saudi Arabia, have bolstered laws or regulations requiring the use of local suppliers, personnel and in-country manufacturing, which has had a negative impact on Teledyne’s revenues of instrumentation, commercial aerospace, marine and digital imaging products, as we currently have limited manufacturing operations in these countries.Risk factors (Item 1A)
Hydrogen energy programs
earns fromnamed as a riskThe Presidential Administration has also rolled back green energy initiatives, which could harm our energy systems business that manufactures hydrogen-based energy generation systems and which also is likely to reduce the number of federally funded hydrogen generation projects, which lowers demand for our process instrumentation products.Risk factors (Item 1A)
Technology
Artificial intelligence data center spending
earns fromnamed as a riskSome of our product sales are tied to artificial intelligence (“AI”)-related capital expenditures and data center infrastructure.Risk factors (Item 1A)