Comprehensive Stock Comparison
Compare Teradyne, Inc. (TER) vs Camtek Ltd. (CAMT) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | CAMT | 36.1% revenue growth vs TER's 13.1% |
| Value | CAMT | Lower P/E (48.2x vs 50.3x) |
| Quality / Margins | CAMT | 28.4% net margin vs TER's 17.4% |
| Stability / Safety | CAMT | Beta 1.83 vs TER's 1.90 |
| Dividends | CAMT | 0.7% yield, 2-year raise streak, vs TER's 0.2% |
| Momentum (1Y) | TER | +191.8% vs CAMT's +124.6% |
| Efficiency (ROA) | CAMT | 13.7% ROA vs TER's 13.3%, ROIC 13.7% vs 19.8% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Teradyne is a leading manufacturer of automated test equipment used to verify semiconductor chips and electronic systems before they reach customers. It generates revenue primarily from semiconductor test systems (~70% of sales) and industrial automation robots (~20%), with the remainder from system test and wireless test equipment. The company's moat comes from its deep expertise in complex test methodologies and long-standing relationships with major semiconductor manufacturers who rely on its equipment for quality assurance.
Camtek designs and manufactures specialized inspection and metrology equipment for semiconductor manufacturers — particularly for advanced packaging, memory, and image sensor production. It generates revenue primarily from selling its Eagle-series inspection systems and related services to chipmakers across Asia, the US, and Europe. The company's competitive advantage lies in its proprietary 2D and 3D inspection technologies that address complex semiconductor manufacturing challenges where precision is critical.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
CAMT leads in 4 of 6 categories — strongest in Valuation Metrics and Profitability & Efficiency. 2 categories are tied.
Financial Metrics (TTM)
TER is the larger business by revenue, generating $3.2B annually — 6.8x CAMT's $472M. CAMT is the more profitable business, keeping 28.4% of every revenue dollar as net income compared to TER's 17.4%. On growth, TER holds the edge at +43.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | TERTeradyne, Inc. | CAMTCamtek Ltd. |
|---|---|---|
| RevenueTrailing 12 months | $3.2B | $472M |
| EBITDAEarnings before interest/tax | $794M | $161M |
| Net IncomeAfter-tax profit | $554M | $134M |
| Free Cash FlowCash after capex | $450M | $0 |
| Gross MarginGross profit ÷ Revenue | +58.3% | +50.3% |
| Operating MarginEBIT ÷ Revenue | +20.9% | +26.6% |
| Net MarginNet income ÷ Revenue | +17.4% | +28.4% |
| FCF MarginFCF ÷ Revenue | +14.1% | +26.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | +43.9% | +20.2% |
| EPS Growth (YoY)Latest quarter vs prior year | +81.9% | +21.1% |
Valuation Metrics
At 69.2x trailing earnings, CAMT trades at a 25% valuation discount to TER's 92.0x P/E.
| Metric | TERTeradyne, Inc. | CAMTCamtek Ltd. |
|---|---|---|
| Market CapShares × price | $50.1B | $7.2B |
| Enterprise ValueMkt cap + debt − cash | $50.2B | $7.3B |
| Trailing P/EPrice ÷ TTM EPS | 91.96x | 69.17x |
| Forward P/EPrice ÷ next-FY EPS est. | 50.31x | 48.24x |
| PEG RatioP/E ÷ EPS growth rate | — | 1.98x |
| EV / EBITDAEnterprise value multiple | 61.18x | — |
| Price / SalesMarket cap ÷ Revenue | 15.71x | — |
| Price / BookPrice ÷ Book value/share | 18.05x | 15.05x |
| Price / FCFMarket cap ÷ FCF | 111.28x | — |
Profitability & Efficiency
CAMT delivers a 21.4% return on equity — every $100 of shareholder capital generates $21 in annual profit, vs $20 for TER. TER carries lower financial leverage with a 0.12x debt-to-equity ratio, signaling a more conservative balance sheet compared to CAMT's 0.38x. On the Piotroski fundamental quality scale (0–9), CAMT scores 7/9 vs TER's 6/9, reflecting strong financial health.
| Metric | TERTeradyne, Inc. | CAMTCamtek Ltd. |
|---|---|---|
| ROE (TTM)Return on equity | +19.8% | +21.4% |
| ROA (TTM)Return on assets | +13.3% | +13.7% |
| ROICReturn on invested capital | +19.8% | +13.7% |
| ROCEReturn on capital employed | +22.5% | +14.8% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 7 |
| Debt / EquityFinancial leverage | 0.12x | 0.38x |
| Net DebtTotal debt minus cash | $53M | $81M |
| Cash & Equiv.Liquid assets | $294M | $126M |
| Total DebtShort + long-term debt | $347M | $207M |
| Interest CoverageEBIT ÷ Interest expense | 81.33x | 4356.62x |
Total Returns (with DRIP)
A $10,000 investment in CAMT five years ago would be worth $56,827 today (with dividends reinvested), compared to $24,052 for TER. Over the past 12 months, TER leads with a +191.8% total return vs CAMT's +124.6%. The 3-year compound annual growth rate (CAGR) favors CAMT at 83.9% vs TER's 47.0% — a key indicator of consistent wealth creation.
| Metric | TERTeradyne, Inc. | CAMTCamtek Ltd. |
|---|---|---|
| YTD ReturnYear-to-date | +54.2% | +44.9% |
| 1-Year ReturnPast 12 months | +191.8% | +124.6% |
| 3-Year ReturnCumulative with dividends | +217.8% | +522.1% |
| 5-Year ReturnCumulative with dividends | +140.5% | +468.3% |
| 10-Year ReturnCumulative with dividends | +1598.0% | +8757.0% |
| CAGR (3Y)Annualised 3-year return | +47.0% | +83.9% |
Risk & Volatility
CAMT is the less volatile stock with a 1.83 beta — it tends to amplify market swings less than TER's 1.90 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CAMT currently trades 95.9% from its 52-week high vs TER's 92.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | TERTeradyne, Inc. | CAMTCamtek Ltd. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.90x | 1.83x |
| 52-Week HighHighest price in past year | $344.92 | $174.61 |
| 52-Week LowLowest price in past year | $65.77 | $47.41 |
| % of 52W HighCurrent price vs 52-week peak | +92.8% | +95.9% |
| RSI (14)Momentum oscillator 0–100 | 68.4 | 65.4 |
| Avg Volume (50D)Average daily shares traded | 2.7M | 423K |
Analyst Outlook
Wall Street rates TER as "Buy" and CAMT as "Buy". Consensus price targets imply -1.1% upside for CAMT (target: $166) vs -13.3% for TER (target: $278). For income investors, CAMT offers the higher dividend yield at 0.73% vs TER's 0.15%.
| Metric | TERTeradyne, Inc. | CAMTCamtek Ltd. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $277.58 | $165.60 |
| # AnalystsCovering analysts | 31 | 12 |
| Dividend YieldAnnual dividend ÷ price | +0.2% | +0.7% |
| Dividend StreakConsecutive years of raises | 4 | 2 |
| Dividend / ShareAnnual DPS | $0.48 | $1.22 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.4% | — |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Teradyne, Inc. (TER) | 100 | 426.77 | +326.8% |
| Camtek Ltd. (CAMT) | 100 | 1,405.35 | +1305.3% |
Camtek Ltd. (CAMT) returned +468% over 5 years vs Teradyne, Inc. (TER)'s +141%. A $10,000 investment in CAMT 5 years ago would be worth $56,827 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Teradyne, Inc. (TER) | $1.8B | $3.2B | +81.9% |
| Camtek Ltd. (CAMT) | $110M | $429M | +291.9% |
Teradyne, Inc.'s revenue grew from $1.8B (2016) to $3.2B (2025) — a 6.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Teradyne, Inc. (TER) | -2.5% | 17.4% | +801.3% |
| Camtek Ltd. (CAMT) | 4.3% | 27.6% | +538.8% |
Teradyne, Inc.'s net margin went from -2% (2016) to 17% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Teradyne, Inc. (TER) | 32.7 | 55.6 | +70.0% |
| Camtek Ltd. (CAMT) | 14.7 | 33.4 | +127.2% |
Teradyne, Inc. has traded in a 13x–56x P/E range over 9 years; current trailing P/E is ~92x. Camtek Ltd. has traded in a 13x–43x P/E range over 8 years; current trailing P/E is ~69x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Teradyne, Inc. (TER) | -0.21 | 3.48 | +1757.1% |
| Camtek Ltd. (CAMT) | 0.13 | 2.42 | +1761.5% |
Teradyne, Inc.'s EPS grew from $-0.21 (2016) to $3.48 (2025).
Chart 6Free Cash Flow — 5 Years
Teradyne, Inc. generated $450M FCF in 2025 (-53% vs 2021). Camtek Ltd. generated $112M FCF in 2024 (+97% vs 2021).
TER vs CAMT: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is TER or CAMT a better buy right now?
Camtek Ltd. (CAMT) offers the better valuation at 69.2x trailing P/E (48.2x forward), making it the more compelling value choice. Analysts rate Teradyne, Inc. (TER) a "Buy" — based on 31 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — TER or CAMT?
On trailing P/E, Camtek Ltd. (CAMT) is the cheapest at 69.2x versus Teradyne, Inc. at 92.0x. On forward P/E, Camtek Ltd. is actually cheaper at 48.2x.
03Which is the better long-term investment — TER or CAMT?
Over the past 5 years, Camtek Ltd. (CAMT) delivered a total return of +468.3%, compared to +140.5% for Teradyne, Inc. (TER). A $10,000 investment in CAMT five years ago would be worth approximately $57K today (assuming dividends reinvested). Over 10 years, the gap is even starker: CAMT returned +87.6% versus TER's +1598%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — TER or CAMT?
By beta (market sensitivity over 5 years), Camtek Ltd. (CAMT) is the lower-risk stock at 1.83β versus Teradyne, Inc.'s 1.90β — meaning TER is approximately 4% more volatile than CAMT relative to the S&P 500. On balance sheet safety, Teradyne, Inc. (TER) carries a lower debt/equity ratio of 12% versus 38% for Camtek Ltd. — giving it more financial flexibility in a downturn.
05Which has better profit margins — TER or CAMT?
Camtek Ltd. (CAMT) is the more profitable company, earning 27.6% net margin versus 17.4% for Teradyne, Inc. — meaning it keeps 27.6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CAMT leads at 25.2% versus 21.7% for TER. At the gross margin level — before operating expenses — TER leads at 58.6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is TER or CAMT more undervalued right now?
On forward earnings alone, Camtek Ltd. (CAMT) trades at 48.2x forward P/E versus 50.3x for Teradyne, Inc. — 2.1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CAMT: -1.1% to $165.60.
07Which pays a better dividend — TER or CAMT?
All stocks in this comparison pay dividends. Camtek Ltd. (CAMT) offers the highest yield at 0.7%, versus 0.2% for Teradyne, Inc. (TER).
08Is TER or CAMT better for a retirement portfolio?
For long-horizon retirement investors, Teradyne, Inc. (TER) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+1598% 10Y return). Camtek Ltd. (CAMT) carries a higher beta of 1.83 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (TER: +1598%, CAMT: +87.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between TER and CAMT?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. CAMT pays a dividend while TER does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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