TFX
Teleflex Incorporated is a global provider of medical technologies designed to improve patient outcomes and reduce the cost of healthcare. The company's products are primarily utilized in the fields o...
Contrarian Cashflows on Teleflex Incorporated (TFX)
主要经营地
US
详细生意模式
医疗器械制造商，专注单一使用器械。出售Acute Care、Interventional Urology、OEM获约$1.8B，用于$1B回购和$800M债务偿还。Irenic Capital activist engagement。
护城河
🟡中：FDA regulatory approval壁垒；clinician relationships。但出售高margin业务后remaining portfolio弱化。
估值水平
Post-sale pro-forma EV/EBIT 24x（过高）。PE 89.9x（被divestiture charges压制）。EV/EBITDA 15.4x。
EV/Market Cap
EV $7.6B / MC $5.2B
网络观点
出售获$1.8B用于$1B buyback + $800M债务偿还。Post-sale 24x EV/EBIT。作者认为valuation不吸引。
AI观点
FY2026 guidance：revenue $2.28-2.30B (+14-15%)，adjusted EPS $6.25-6.55（adjusted PE ~18x vs headline 89.9x）。Buyback可降低share count ~10%。Divestiture可能打开re-rating机会。结论：当前估值因divestiture混淆，等待完成和Q1 adjusted earnings再评估。