In capital deployment, Mehrabian said 2025 was Teledyne’s second-largest year in history, with more than $850 million spent on acquisitions throughout the year and $400 million used for stock repurchases in the fourth quarter. He added that Teledyne generated about $1.1 billion in free cash flow for a second consecutive year and ended 2025 with a leverage ratio of 1.4x.Mehrabian said fourth-quarter sales increased 7.3% year over year and non-GAAP earnings rose 14.1%. For the full year, sales increased 7.9% ...