TFX
Teleflex Incorporated
$132.75
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Mild
·
Conviction
Overvalued
Trading 10.8% above fair value
You pay
$132.75
Bear
$95.87
Fair
$119.84
Bull
$143.81
Bear
$95.87
-27.8%
$7.53 × 12x P/E
Fair
$119.84
-9.7%
$7.53 × 15x P/E
Bull
$143.81
+8.3%
$7.53 × 18x P/E
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
17.6x
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 $140.50 from 29 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $119.84 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