TFX · CIK 96943
What Teleflex Incorporated told the SEC could break it.
Teleflex's disclosures center on its global manufacturing footprint and the cost pressures running through it. Its major operations sit in the Czech Republic, Malaysia, Mexico, and the U.S. — with about 70% of net property and equipment and 41% of 2025 revenue outside the U.S. — exposing it to tariffs, trade disputes, and currency moves, and recently enacted U.S. tariffs were a primary contributor to a 480-basis-point (7.9%) gross-margin decline in 2025 alongside higher logistics costs and labor and raw-material inflation. Its supply chain also depends in part on sole-source suppliers and sterilization-service providers, with exposure to the cost and availability of resins and other raw materials.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Regulatory & policy
- recently enacted U.S. tariffs (margin driver)medium
Recently enacted tariffs were a primary contributor to a 480 bps (7.9%) gross-margin decline in 2025, alongside higher logistics/distribution costs and labor/raw-material inflation.
“For the year ended December 31, 2025, gross margin decreased 480 basis points, or 7.9%, compared to the prior year, primarily due to the adverse impact from the amortization of the step-up in carrying value of inventory and intangible assets recognized in connection with the VI Business acquisition, the adverse impact from recently enacted tariffs, an increase in logistics and distribution costs and continued cost inflation from macro-economic factors, specifically with respect to labor and raw materials.”
Sole-source dependency
- sole-source suppliers, sterilization services, resinsmedium
Supply chain depends in part on sole-source suppliers and providers of sterilization services, with exposure to resin/raw-material cost and availability fluctuations.
“the impact of inflation and disruptions in our global supply chain on us and our suppliers (particularly sole-source suppliers and providers of sterilization services), including fluctuations in the cost and availability of resins and other raw materials, as well as certain components, used in the production or sterilization of our products, transportation constraints and delays, product shortages, energy shortages or increased energy costs, labor shortages in the United States and elsewhere, and increased”
SEC filing →As of 2026
Geographic concentration
- offshore manufacturing (Czech Republic, Malaysia, Mexico)low
Major manufacturing is in the Czech Republic, Malaysia, Mexico and the U.S.; ~70% of net PP&E and 41% of 2025 revenue are outside the U.S., exposing the company to tariffs/trade disputes and FX.
“Our major manufacturing operations are located in the Czech Republic, Malaysia, Mexico and the United States (the "U.S.").”
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