Teledyne Technologies Incorporated (TDY)

Financial leverage ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total assets	US$ in thousands	14,527,900	14,354,000	14,430,300	5,084,800	4,579,800
Total stockholders’ equity	US$ in thousands	9,221,200	8,169,200	7,622,000	3,228,600	2,714,700
Financial leverage ratio		1.58	1.76	1.89	1.57	1.69

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $14,527,900K ÷ $9,221,200K
= 1.58

The financial leverage ratio of Teledyne Technologies Inc has fluctuated over the past five years. The ratio decreased from 1.69 in 2019 to 1.57 in 2021, indicating a slight improvement in the company's leverage position. However, this trend reversed in the following years, as the ratio increased to 1.89 in 2022 and then decreased to 1.76 in 2023. A financial leverage ratio above 1 suggests that the company is relying more on debt financing to fund its operations and investments, compared to equity financing. Overall, the variability in Teledyne Technologies Inc's financial leverage ratio over the years may indicate changes in the company's capital structure and financial risk profile.