Teledyne Inc. equity research paper - a fascinating behind-the-scenes look at teledyne

• Autor(a) principal: Alvarenga, Frederico Vilariça
• Data de Publicação: 2021
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10362/140585
• topic: Valuation; Acquisitions; Finance; Debt structure; Dcf; Roic; Organica and inorganic growth; Cost efficiency; Domínio/Área Científica::Ciências Sociais::Economia e Gestão

Teledyne Equity Research Paper assembles key information about Teledyne Technologies, presenting in a short and brief way the key aspects of their history, structure and inherent risk associated with the market they operate. Teledyne has its operations divided into four core activities: Instrumentation, Digital Imaging, Aerospace and defense Electronics and Engineered Systems. The report will undertake a deep analysis of Teledyne’s business and assess the value of their activities by analyzing historical data and develop drivers. The present work project attempts to create a model to forecast the present value of future estimated cash flows. The model tries to grasp the growth strategy presented by Teledyne and develop drivers that correspond to their long-term goals. Teledyne growth strategy involves growing inorganically, through acquisitions, and organically, by improving processes and increasing margins. As so, the predominant sales driver is focused on the acquisitions and Research and Development expenditures, as this are considered to be the two key aspects of growth that meet the long-term goals of Teledyne. The sales are then influenced by the amount Teledyne invests in acquisitions and R&D expenses. To implement cost-efficiency, it was studied the development of margins, namely, the gross margin. Teledyne, by performing acquisitions and investing in improving processes, is able to forego a development in their product’s margin.