TFX
Teleflex Incorporated
$134.61
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Mild
·
Conviction
Overvalued
Trading 10.9% above fair value
You pay
$134.61
Bear
$97.11
Fair
$121.39
Bull
$145.67
Bear
$97.11
-27.9%
$7.53 × 12x P/E
Fair
$121.39
-9.8%
$7.53 × 15x P/E
Bull
$145.67
+8.2%
$7.53 × 18x P/E
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
17.9x
Summary
Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $146.71 from 29 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $121.39 per share.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples