### @TDY — Confirmed — from the earnings call
Let me start with the acquisition math: 75 deals over 25 years, roughly $12.8 billion, mostly cash we generated. Last 12 to 13 months: $800 to $900 million. Over $1 billion free cash flow, guiding toward $1.1 billion. Unusually, we're favoring capex — up 35% — and R&D over deals because demand exceeds capacity. Q1 book-to-bill 1.16, tenth straight quarter above one, backlog $4.6 billion. But we won't promise 20% a year like others do. Government cycles are tedious. On Golden Dome: we'll see how much budget goes in there in reality. Asking is one thing, getting it another. That's not us.
- tier: Confirmed (✓)
- source: TDY / The disciplined acquirer, and the tempered surge
- receipt: https://ticker.thevixguy.com/p/p-day-20260720-tdy-src-tdy-capital-allocation-ingest
- posted: 2026-07-20T20:24:58.875Z