TFX (TFX) financial statements
TFX reported revenue of $2.0B in fiscal 2025, up 0.7% a year over 9 years.
Net income was -$906M and the operating margin 5.9%, against 17.1% in 2016.
Free cash flow was $1M, and the company returned $60M in dividends and $300M in net buybacks.
The diluted share count fell 6% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from TFX's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9B | $2.1B | $2.4B | $2.6B | $2.5B | $2.8B | $2.8B | $1.7B | $1.7B | $2.0B |
| Cost of revenue | $872M | $975M | $1.1B | $1.2B | $1.2B | $1.3B | $1.3B | $672M | $662M | $872M |
| Gross profit | $996M | $1.2B | $1.3B | $1.4B | $1.3B | $1.5B | $1.5B | $1.0B | $1.0B | $1.1B |
| Research and development | $59M | $85M | $106M | $114M | $120M | $131M | $154M | $114M | $109M | $145M |
| Selling, general and admin | $563M | $700M | $797M | $852M | $744M | $860M | $864M | $623M | $675M | $720M |
| Operating income | $319M | $372M | $322M | $427M | $423M | $628M | $500M | $259M | $104M | $118M |
| Interest expense | $55M | $83M | $103M | $80M | $66M | $57M | $54M | $85M | $84M | $100M |
| Pre-tax income | $246M | $285M | $220M | $340M | $358M | $559M | $446M | $185M | $26M | $25M |
| Income tax | $8M | $130M | $23M | -$122M | $22M | $74M | $83M | $42M | -$31M | -$34M |
| Net income | $237M | $153M | $201M | $461M | $335M | $485M | $363M | $356M | $70M | -$906M |
| EPS (diluted) | $4.98 | $3.27 | $4.29 | $9.80 | $7.09 | $10.23 | $7.68 | $7.53 | $1.48 | -$20.25 |
| Diluted shares | 48M | 47M | 47M | 47M | 47M | 47M | 47M | 47M | 47M | 45M |
| Gross margin | 53.3% | 54.6% | 53.2% | 54.3% | 52.2% | 55.2% | 54.9% | 60.7% | 61.0% | 56.2% |
| Operating margin | 17.1% | 17.3% | 13.1% | 16.5% | 16.7% | 22.4% | 17.9% | 15.1% | 6.1% | 5.9% |
| Net margin | 12.7% | 7.1% | 8.2% | 17.8% | 13.2% | 17.3% | 13.0% | 20.8% | 4.1% | -45.4% |
Balance sheet
Fiscal years, from TFX's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $544M | $334M | $357M | $301M | $376M | $445M | $292M | $223M | $248M | $379M |
| Receivables | $272M | $346M | $366M | $419M | $395M | $384M | $409M | $443M | $227M | $346M |
| Inventory | $316M | $396M | $428M | $477M | $513M | $478M | $579M | $626M | $307M | $404M |
| Total current assets | $1.2B | $1.1B | $1.2B | $1.3B | $1.4B | $1.4B | $1.4B | $1.4B | $1.5B | $1.9B |
| Property, plant and equipment | $303M | $383M | $433M | $431M | $474M | $444M | $447M | $480M | $308M | $498M |
| Goodwill | $1.3B | $2.2B | $2.2B | $2.2B | $2.6B | $2.5B | $2.5B | $2.9B | $2.0B | $2.3B |
| Total assets | $3.9B | $6.2B | $6.3B | $6.3B | $7.2B | $6.9B | $6.9B | $7.5B | $7.1B | $6.9B |
| Total current liabilities | $428M | $484M | $582M | $563M | $540M | $680M | $581M | $607M | $649M | $762M |
| Long-term debt | $850M | $2.2B | $2.1B | $1.9B | $2.4B | $1.7B | $1.6B | $1.7B | $1.6B | $2.5B |
| Total liabilities | $1.8B | $3.8B | $3.7B | $3.3B | $3.8B | $3.1B | $2.9B | $3.1B | $2.8B | $3.8B |
| Shareholders' equity | $2.1B | $2.4B | $2.5B | $3.0B | $3.3B | $3.8B | $4.0B | $4.4B | $4.3B | $3.1B |
| Net debt | $490M | $1.9B | $1.8B | $1.6B | $2.1B | $1.4B | $1.4B | $1.6B | $1.4B | $2.3B |
Cash flow
Fiscal years, from TFX's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $411M | $426M | $435M | $437M | $437M | $652M | $343M | $206M | $302M | $97M |
| Capital spending | $53M | $71M | $81M | $103M | $91M | $72M | $79M | $46M | $90M | $95M |
| Free cash flow | $357M | $355M | $354M | $334M | $346M | $581M | $264M | $160M | $211M | $1M |
| Stock-based compensation | $17M | $19M | $22M | $27M | $21M | $23M | $27M | $27M | $26M | $26M |
| Dividends paid | $59M | $61M | $62M | $63M | $63M | $64M | $64M | $64M | $64M | $60M |
| Share buybacks (net) | — | — | — | — | — | — | $0 | $0 | -$200M | -$300M |
| Net borrowing | -$43M | $1.2B | -$94M | -$254M | $575M | -$634M | -$140M | $101M | -$162M | $987M |
| Free cash flow margin | 19.1% | 16.6% | 14.5% | 12.9% | 13.7% | 20.7% | 9.4% | 9.3% | 12.4% | 0.1% |
| Dividends per share | $1.24 | $1.31 | $1.33 | $1.33 | $1.34 | $1.34 | $1.35 | $1.35 | $1.35 | $1.35 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for TFX.
Open TFX in InvestinglyQuestions
What was TFX's revenue in 2025?
$2.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does TFX generate?
$1M in fiscal 2025 (operating cash flow minus capital spending).
From TFX's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.