Teradyne, Inc. (TER) 10-Year Financial Performance & Capital Metrics

TER •

TechnologySemiconductorsSemiconductor Test, Metrology and Inspection Equipment

AboutTeradyne, Inc. designs, develops, manufactures, sells, and supports automatic test equipment worldwide. The company operates through Semiconductor Test, System Test, Industrial Automation, and Wireless Test segments. The Semiconductor Test segment offers products and services for wafer level and device package testing in automotive, industrial, communications, consumer, smartphones, cloud computer and electronic game, and other applications. This segment also provides FLEX test platform systems; J750 test system to address the volume semiconductor devices; Magnum platform that tests memory devices, such as flash memory and DRAM; and ETS platform for semiconductor manufacturers, and assembly and test subcontractors in the analog/mixed signal markets. It serves integrated device manufacturers that integrate the fabrication of silicon wafers into their business; fabless companies that outsource the manufacturing of silicon wafers; foundries; and semiconductor assembly and test providers. The System Test segment offers defense/aerospace test instrumentation and systems; storage test systems; and circuit-board test and inspection systems. The Industrial Automation segment provides collaborative robotic arms, autonomous mobile robots, and advanced robotic control software for manufacturing, logistics, and light industrial customers. The Wireless Test segment provides test solutions for use in the development and manufacture of wireless devices and modules, smartphones, tablets, notebooks, laptops, peripherals, and Internet-of-Things devices under the LitePoint brand name. This segment also offers IQxel products for Wi-Fi and other standards; IQxstream solution for testing GSM, EDGE, CDMA2000, TD-SCDMA, WCDMA, HSPA+, LTE, and 5G technologies; IQcell, a multi-device cellular signaling test solution; IQgig test solution; and turnkey test software for wireless chipsets. Teradyne, Inc. was incorporated in 1960 and is headquartered in North Reading, Massachusetts.Show more

Revenue $3.19B +13.1%
EBITDA $820M +14.9%
Net Income $554M +2.2%
EPS (Diluted) 3.48 +4.8%
Gross Margin 58.55% +0.1%
EBITDA Margin 25.71% +1.6%
Operating Margin 21.74% +3.2%
Net Margin 17.37% -9.7%
ROE 19.73% -2.8%
ROIC 19.81% -4.0%
Debt/Equity 0.12 +160.2%
Interest Coverage 86.44 -47.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 97 (top 3%)
✓High quality earnings: Operating CF exceeds net income
✓Good 3Y average ROE of 19.4%
✓Share count reduced 3.5% through buybacks
✓Healthy 5Y average net margin of 20.7%

✗Weaknesses

✗Expensive at 18.0x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y6.88%

5Y0.44%

3Y0.37%

TTM13.13%

Profit (Net Income) CAGR

10Y10.37%

5Y-6.71%

3Y-8.17%

TTM2.15%

EPS CAGR

10Y13.63%

5Y-4.05%

3Y-6.22%

TTM4.62%

ROCE

10Y Avg22.77%

5Y Avg25.96%

3Y Avg20.19%

Latest22.54%

Peer Comparison

Semiconductor Test, Metrology and Inspection Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FORMFormFactor, Inc.	7.63B	98.88	111.10	15.16%	6.78%	5.14%	1.04%	0.04
TERTeradyne, Inc.	50.12B	320.03	91.96	13.13%	17.37%	19.82%	0.9%	0.12
NVMINova Ltd.	12.85B	438.86	76.32	29.83%	29.44%	19.66%	1.7%	0.25
CAMTCamtek Ltd.	7.18B	167.39	69.17	36.1%	28.36%	21.35%		0.38
ONTOOnto Innovation Inc.	10.63B	215.89	53.17	21.01%	17.46%	8.74%	2.01%	0.01
KLACKLA Corporation	201.28B	1524.55	50.20	23.89%	35.76%	83.39%	1.86%	1.30
INTTinTEST Corporation	144.21M	11.65	48.54	5.99%	-2.22%	-2.44%	1.73%	0.26
COHUCohu, Inc.	1.41B	30.20	-18.99	12.74%	-16.4%	-9.46%		0.46

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	1.75B	2.14B	2.1B	2.29B	3.12B	3.7B	3.16B	2.68B	2.82B	3.19B
Revenue Growth %	6.93%	21.87%	-1.68%	9.24%	36.01%	18.63%	-14.79%	-15.17%	5.36%	13.13%
Cost of Goods Sold+	794.64M	915.15M	880.41M	955.14M	1.34B	1.5B	1.29B	1.14B	1.17B	1.32B
COGS % of Revenue	45.32%	42.83%	41.91%	41.62%	42.79%	40.41%	40.82%	42.58%	41.52%	41.45%
Gross Profit+	958.61M	1.22B	1.22B	1.34B	1.79B	2.21B	1.87B	1.54B	1.65B	1.87B
Gross Margin %	54.68%	57.17%	58.09%	58.38%	57.21%	59.59%	59.18%	57.42%	58.48%	58.55%
Gross Profit Growth %	4.69%	27.42%	-0.09%	9.79%	33.28%	23.57%	-15.39%	-17.7%	7.3%	13.28%
Operating Expenses+	661.35M	686.75M	731.37M	800.05M	857.33M	1.01B	1.04B	1.04B	1.06B	1.17B
OpEx % of Revenue	37.72%	32.14%	34.81%	34.86%	27.47%	27.17%	32.81%	38.7%	37.42%	36.82%
Selling, General & Admin	316.54M	348.91M	390.67M	437.08M	464.77M	547.56M	558.1M	577.32M	617.05M	644.07M
SG&A % of Revenue	18.05%	16.33%	18.6%	19.05%	14.89%	14.79%	17.69%	21.57%	21.88%	20.19%
Research & Development	292.16M	307.31M	301.5M	322.82M	374.96M	427.61M	440.59M	418.09M	460.88M	504.6M
R&D % of Revenue	16.66%	14.38%	14.35%	14.07%	12.01%	11.55%	13.96%	15.62%	16.34%	15.82%
Other Operating Expenses	52.65M	30.53M	39.19M	40.15M	17.6M	30.77M	36.52M	40.28M	-22.78M	25.78M
Operating Income+	-62.97M	525.34M	473.8M	553.65M	928.41M	1.2B	831.94M	501.07M	593.79M	693.4M
Operating Margin %	-3.59%	24.59%	22.55%	24.12%	29.74%	32.43%	26.37%	18.72%	21.06%	21.74%
Operating Income Growth %	-125.92%	934.28%	-9.81%	16.85%	67.69%	29.33%	-30.71%	-39.77%	18.5%	16.78%
EBITDA+	57.04M	633.42M	587.02M	674.31M	1.06B	1.33B	942.61M	611.95M	713.53M	820.12M
EBITDA Margin %	3.25%	29.65%	27.94%	29.38%	33.8%	35.82%	29.88%	22.87%	25.3%	25.71%
EBITDA Growth %	-85.14%	1010.5%	-7.32%	14.87%	56.48%	25.69%	-28.92%	-35.08%	16.6%	14.94%
D&A (Non-Cash Add-back)	120.01M	108.08M	113.22M	120.66M	126.74M	125.48M	110.67M	110.89M	119.74M	126.72M
EBIT	-51.42M	546.08M	489.58M	548M	925.2M	1.18B	844.1M	529.38M	612.67M	653.26M
Net Interest Income+	5.66M	-3.86M	-1.32M	-5.23M	-18.2M	-15.19M	2.66M	23.54M	21.18M	10.83M
Interest Income	9.3M	17.8M	20.46M	16.99M	5.98M	2.63M	6.38M	27.35M	24.77M	18.85M
Interest Expense	3.64M	21.66M	21.78M	22.22M	24.18M	17.82M	3.72M	3.81M	3.59M	8.02M
Other Income/Expense	7.91M	-931K	-6M	-27.88M	-27.39M	-39.77M	8.45M	24.5M	8.09M	-60.06M
Pretax Income+	-55.06M	524.41M	467.8M	525.77M	901.01M	1.16B	840.38M	525.57M	601.88M	633.35M
Pretax Margin %	-3.14%	24.54%	22.27%	22.91%	28.87%	31.35%	26.64%	19.64%	21.34%	19.85%
Income Tax+	-11.64M	266.72M	16.02M	58.3M	116.87M	146.37M	124.88M	76.82M	59.5M	79.3M
Effective Tax Rate %	78.86%	49.14%	96.58%	88.91%	87.03%	87.39%	85.14%	85.38%	90.11%	87.48%
Net Income+	-43.42M	257.69M	451.78M	467.47M	784.15M	1.01B	715.5M	448.75M	542.37M	554.05M
Net Margin %	-2.48%	12.06%	21.51%	20.37%	25.12%	27.4%	22.68%	16.77%	19.23%	17.37%
Net Income Growth %	-121.03%	693.47%	75.32%	3.47%	67.74%	29.39%	-29.48%	-37.28%	20.86%	2.15%
Net Income (Continuing)	-43.42M	257.69M	451.78M	467.47M	784.15M	1.01B	715.5M	448.75M	542.37M	554.05M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.21	1.28	2.35	2.60	4.28	5.53	4.22	2.73	3.32	3.48
EPS Growth %	-121.65%	709.52%	83.59%	10.64%	64.62%	29.21%	-23.69%	-35.31%	21.61%	4.82%
EPS (Basic)	-0.21	1.30	2.41	2.74	4.72	6.15	4.52	2.91	3.41	3.49
Diluted Shares Outstanding	202.58M	201.64M	192.6M	179.46M	183.04M	183.63M	169.73M	164.3M	163.31M	157.65M
Basic Shares Outstanding	202.58M	198.07M	187.67M	170.43M	166.12M	164.96M	158.43M	154.31M	159.08M	156.41M
Dividend Payout Ratio	-	21.52%	14.9%	13.11%	8.48%	6.5%	9.74%	15.13%	14.09%	13.77%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	1.62B	2.27B	1.73B	1.66B	2.42B	2.58B	2.26B	2.16B	1.82B	1.94B
Cash & Short-Term Investments	1.18B	1.78B	1.12B	911.23M	1.44B	1.37B	894.38M	819.73M	599.67M	322M
Cash Only	307.88M	429.84M	926.75M	773.92M	914.12M	1.12B	854.77M	757.57M	553.35M	293.75M
Short-Term Investments	871.02M	1.35B	190.1M	137.3M	522.28M	244.23M	39.61M	62.15M	46.31M	28.25M
Accounts Receivable	192.44M	272.78M	291.27M	362.37M	497.51M	550.75M	491.14M	422.12M	471.43M	773.57M
Days Sales Outstanding	40.06	46.6	50.61	57.63	58.17	54.29	56.82	57.57	61.02	88.51
Inventory	212.97M	190.03M	285.18M	340.08M	434.48M	607.81M	816.12M	812.23M	664.37M	379.55M
Days Inventory Outstanding	97.83	75.79	118.23	129.96	118.72	148.27	231.3	260.16	207.09	104.78
Other Current Assets	8.04M	4.03M	8.31M	11.9M	9.25M	9.45M	14.4M	61.24M	17.73M	33.27M
Total Non-Current Assets+	1.14B	839.26M	974.12M	1.13B	1.24B	1.23B	1.24B	1.32B	1.89B	2.23B
Property, Plant & Equipment	253.82M	268.45M	279.82M	377.75M	449.37M	456.05M	492.42M	518.91M	578.36M	639.63M
Fixed Asset Turnover	6.91x	7.96x	7.51x	6.08x	6.95x	8.12x	6.41x	5.16x	4.88x	4.99x
Goodwill	223.34M	252.01M	381.85M	416.43M	453.86M	426.02M	403.19M	415.65M	395.37M	521.02M
Intangible Assets	100.4M	79.09M	125.48M	125.48M	100.94M	75.64M	53.48M	35.4M	15.93M	51.27M
Long-Term Investments	433.84M	125.93M	87.73M	104.49M	117.98M	133.86M	110.78M	117.43M	618.62M	663.35M
Other Non-Current Assets	19.88M	29.77M	28.39M	28.79M	26.85M	39.21M	40.69M	61.62M	61.61M	359.02M
Total Assets+	2.76B	3.11B	2.71B	2.79B	3.65B	3.81B	3.5B	3.49B	3.71B	4.17B
Asset Turnover	0.63x	0.69x	0.78x	0.82x	0.85x	0.97x	0.90x	0.77x	0.76x	0.76x
Asset Growth %	8.39%	12.56%	-12.96%	2.97%	31.05%	4.3%	-8.09%	-0.41%	6.36%	12.44%
Total Current Liabilities+	372.7M	454.34M	476.29M	539.03M	700.87M	805.12M	746.26M	659.95M	624.58M	1.1B
Accounts Payable	95.36M	86.39M	100.69M	126.62M	133.66M	153.13M	139.72M	180.13M	134.79M	269.19M
Days Payables Outstanding	43.8	34.46	41.74	48.39	36.52	37.36	39.6	57.7	42.02	74.31
Short-Term Debt	0	0	0	19.48M	53.92M	39.16M	68.71M	17.52M	18.7M	200M
Deferred Revenue (Current)	0	83.61M	77.71M	104.88M	134.66M	146.19M	148.28M	99.8M	107.71M	0
Other Current Liabilities	136.91M	83.58M	113.14M	79.98M	77.58M	124.19M	112.27M	122.09M	90.78M	139.78M
Current Ratio	4.36x	5.00x	3.64x	3.08x	3.45x	3.20x	3.03x	3.28x	2.91x	1.76x
Quick Ratio	3.79x	4.58x	3.04x	2.45x	2.83x	2.44x	1.93x	2.05x	1.84x	1.41x
Cash Conversion Cycle	94.09	87.93	127.09	139.21	140.37	165.21	248.52	260.03	226.1	118.98
Total Non-Current Liabilities+	561.14M	701.56M	707.96M	767.83M	740.67M	440.35M	303.69M	300.98M	264.84M	272.64M
Long-Term Debt	352.67M	365.99M	379.98M	440.54M	418.84M	145.42M	64.18M	65.09M	57.92M	63.9M
Capital Lease Obligations	0	0	0	45.85M	42.07M	56.18M	64.18M	65.09M	57.92M	63.9M
Deferred Tax Liabilities	12.14M	6.72M	20.66M	14.07M	10.82M	6.33M	3.27M	183K	1.04M	5.38M
Other Non-Current Liabilities	196.32M	298.73M	274.57M	221.4M	210.58M	177.5M	126.94M	133.33M	107.45M	88.58M
Total Liabilities	933.83M	1.16B	1.18B	1.31B	1.44B	1.25B	1.05B	960.93M	889.42M	1.37B
Total Debt+	352.67M	365.99M	379.98M	505.86M	514.83M	240.76M	197.06M	147.71M	134.54M	347.14M
Net Debt	44.78M	-63.86M	-546.77M	-268.06M	-399.29M	-881.44M	-657.71M	-609.87M	-418.81M	53.39M
Debt / Equity	0.19x	0.19x	0.25x	0.34x	0.23x	0.09x	0.08x	0.06x	0.05x	0.12x
Debt / EBITDA	6.18x	0.58x	0.65x	0.75x	0.49x	0.18x	0.21x	0.24x	0.19x	0.42x
Net Debt / EBITDA	0.79x	-0.10x	-0.93x	-0.40x	-0.38x	-0.66x	-0.70x	-1.00x	-0.59x	0.07x
Interest Coverage	-17.31x	24.25x	21.75x	24.91x	38.39x	67.38x	223.70x	131.65x	165.54x	86.44x
Total Equity+	1.83B	1.95B	1.52B	1.48B	2.21B	2.56B	2.45B	2.53B	2.82B	2.8B
Equity Growth %	-6.98%	6.83%	-22.08%	-2.77%	49.36%	15.97%	-4.39%	3.04%	11.62%	-0.83%
Book Value per Share	9.03	9.69	7.90	8.25	12.08	13.96	14.44	15.37	17.26	17.73
Total Shareholders' Equity	1.83B	1.95B	1.52B	1.48B	2.21B	2.56B	2.45B	2.53B	2.82B	2.8B
Common Stock	24.9M	24.44M	21.94M	20.8M	24.55M	21.79M	19.47M	19.09M	20.21M	2.8B
Retained Earnings	230.29M	272.01M	-158.19M	-241.92M	387.41M	736.57M	725.73M	706.51M	970.76M	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-20.21M	18.78M	-13.04M	-18.85M	33.52M	-5.95M	-49.87M	-26.98M	-81.22M	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	445.8M	626.5M	476.88M	578.75M	868.93M	1.1B	577.92M	585.23M	672.18M	674.41M
Operating CF Margin %	25.43%	29.32%	22.7%	25.22%	27.84%	29.66%	18.32%	21.87%	23.84%	21.14%
Operating CF Growth %	8.58%	40.53%	-23.88%	21.36%	50.14%	26.4%	-47.38%	1.26%	14.86%	0.33%
Net Income	-43.42M	257.69M	451.78M	467.47M	784.15M	1.01B	715.5M	448.75M	542.37M	554.05M
Depreciation & Amortization	120.01M	108.08M	113.22M	120.66M	110.92M	112.53M	110.1M	111.12M	119.74M	126.72M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-62.94M	37.1M	28.34M	-9.46M	-15.69M	-17.3M	-38.69M	-37.64M	-46.36M	-52.07M
Other Non-Cash Items	391.39M	40.53M	47.07M	51.79M	58.93M	87.32M	63.6M	72.64M	32.55M	118.23M
Working Capital Changes	40.76M	183.09M	-163.53M	-51.71M	-69.38M	-98.77M	-272.58M	-9.64M	23.88M	-72.51M
Change in Receivables	18.32M	-80.58M	-17.94M	-70.44M	-129.45M	-57.78M	50.63M	70.98M	-52.66M	-292.25M
Change in Inventory	34.26M	44.96M	-29.5M	-27.41M	-8.44M	6.5M	-80.81M	5.33M	8.71M	-28.42M
Change in Payables	-1.71M	43.57M	13.69M	49.28M	73.17M	129.5M	-60.51M	46.78M	-54.39M	208.85M
Cash from Investing+	-640.46M	-262.8M	923.01M	-156.66M	-569.79M	120.36M	43.75M	-179.65M	-622.34M	-368.62M
Capital Expenditures	-85.27M	-105.38M	-114.38M	-134.64M	-184.98M	-132.47M	-163.25M	-159.64M	-198.09M	-224.01M
CapEx % of Revenue	4.86%	4.93%	5.44%	5.87%	5.93%	3.58%	5.17%	5.96%	7.02%	7.02%
Acquisitions	0	0	-161.55M	-79.74M	149K	-12M	3.41M	0	90.35M	-144.38M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.05M	5.06M	1.13M	2.91M	546K	0	0	-4.54M	873K	0
Cash from Financing+	237.84M	-245.19M	-903.42M	-574.35M	-158.29M	-1.01B	-892.99M	-501.91M	-251.77M	-562.25M
Debt Issued (Net)	450.8M	0	0	0	0	-342.99M	-66.76M	-50.26M	0	200M
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-48.62M	-55.45M	-67.32M	-61.3M	-66.48M	-65.98M	-69.71M	-67.88M	-76.42M	-76.31M
Share Repurchases	-146.33M	-200.3M	-823.48M	-500M	-88.47M	-600M	-752.08M	-397.24M	-198.57M	-702.1M
Other Financing	-5.5M	-1.05M	-13.57M	-27.61M	-8.85M	0	0	0	0	-15.7M
Net Change in Cash	43.18M	121.96M	496.91M	-152.83M	140.2M	208.08M	-267.43M	-97.2M	-204.22M	-259.6M
Free Cash Flow+	360.53M	521.12M	362.5M	444.11M	683.96M	965.89M	414.67M	425.59M	474.08M	450.41M
FCF Margin %	20.56%	24.39%	17.26%	19.35%	21.91%	26.08%	13.14%	15.9%	16.81%	14.12%
FCF Growth %	12.42%	44.54%	-30.44%	22.51%	54.01%	41.22%	-57.07%	2.63%	11.39%	-4.99%
FCF per Share	1.78	2.58	1.88	2.47	3.74	5.26	2.44	2.59	2.90	2.86
FCF Conversion (FCF/Net Income)	-10.27x	2.43x	1.06x	1.24x	1.11x	1.08x	0.81x	1.30x	1.24x	1.22x
Interest Paid	446K	6.45M	6.21M	6M	6.43M	4.24M	1.5M	296K	767K	0
Taxes Paid	40.42M	53.77M	72.81M	81.41M	106.58M	172.13M	193.25M	140.24M	121.43M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-2.29%	13.63%	25.99%	31.14%	42.49%	42.5%	28.53%	18.03%	20.29%	19.73%
Return on Invested Capital (ROIC)	-2.64%	20.94%	24.8%	37.96%	46.06%	51.55%	35.9%	20.26%	20.63%	19.81%
Gross Margin	54.68%	57.17%	58.09%	58.38%	57.21%	59.59%	59.18%	57.42%	58.48%	58.55%
Net Margin	-2.48%	12.06%	21.51%	20.37%	25.12%	27.4%	22.68%	16.77%	19.23%	17.37%
Debt / Equity	0.19x	0.19x	0.25x	0.34x	0.23x	0.09x	0.08x	0.06x	0.05x	0.12x
Interest Coverage	-17.31x	24.25x	21.75x	24.91x	38.39x	67.38x	223.70x	131.65x	165.54x	86.44x
FCF Conversion	-10.27x	2.43x	1.06x	1.24x	1.11x	1.08x	0.81x	1.30x	1.24x	1.22x
Revenue Growth	6.93%	21.87%	-1.68%	9.24%	36.01%	18.63%	-14.79%	-15.17%	5.36%	13.13%

US Stock Screener

...

Teradyne, Inc. (TER) 10-Year Financial Performance & Capital Metrics

TER •

TechnologySemiconductorsSemiconductor Test, Metrology and Inspection Equipment

Revenue $3.19B +13.1%
EBITDA $820M +14.9%
Net Income $554M +2.2%
EPS (Diluted) 3.48 +4.8%
Gross Margin 58.55% +0.1%
EBITDA Margin 25.71% +1.6%
Operating Margin 21.74% +3.2%
Net Margin 17.37% -9.7%
ROE 19.73% -2.8%
ROIC 19.81% -4.0%
Debt/Equity 0.12 +160.2%
Interest Coverage 86.44 -47.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 97 (top 3%)
✓High quality earnings: Operating CF exceeds net income
✓Good 3Y average ROE of 19.4%
✓Share count reduced 3.5% through buybacks
✓Healthy 5Y average net margin of 20.7%

✗Weaknesses

✗Expensive at 18.0x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y6.88%

5Y0.44%

3Y0.37%

TTM13.13%

Profit (Net Income) CAGR

10Y10.37%

5Y-6.71%

3Y-8.17%

TTM2.15%

EPS CAGR

10Y13.63%

5Y-4.05%

3Y-6.22%

TTM4.62%

ROCE

10Y Avg22.77%

5Y Avg25.96%

3Y Avg20.19%

Latest22.54%

Peer Comparison

Semiconductor Test, Metrology and Inspection Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FORMFormFactor, Inc.	7.63B	98.88	111.10	15.16%	6.78%	5.14%	1.04%	0.04
TERTeradyne, Inc.	50.12B	320.03	91.96	13.13%	17.37%	19.82%	0.9%	0.12
NVMINova Ltd.	12.85B	438.86	76.32	29.83%	29.44%	19.66%	1.7%	0.25
CAMTCamtek Ltd.	7.18B	167.39	69.17	36.1%	28.36%	21.35%		0.38
ONTOOnto Innovation Inc.	10.63B	215.89	53.17	21.01%	17.46%	8.74%	2.01%	0.01
KLACKLA Corporation	201.28B	1524.55	50.20	23.89%	35.76%	83.39%	1.86%	1.30
INTTinTEST Corporation	144.21M	11.65	48.54	5.99%	-2.22%	-2.44%	1.73%	0.26
COHUCohu, Inc.	1.41B	30.20	-18.99	12.74%	-16.4%	-9.46%		0.46

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	1.75B	2.14B	2.1B	2.29B	3.12B	3.7B	3.16B	2.68B	2.82B	3.19B
Revenue Growth %	6.93%	21.87%	-1.68%	9.24%	36.01%	18.63%	-14.79%	-15.17%	5.36%	13.13%
Cost of Goods Sold+	794.64M	915.15M	880.41M	955.14M	1.34B	1.5B	1.29B	1.14B	1.17B	1.32B
COGS % of Revenue	45.32%	42.83%	41.91%	41.62%	42.79%	40.41%	40.82%	42.58%	41.52%	41.45%
Gross Profit+	958.61M	1.22B	1.22B	1.34B	1.79B	2.21B	1.87B	1.54B	1.65B	1.87B
Gross Margin %	54.68%	57.17%	58.09%	58.38%	57.21%	59.59%	59.18%	57.42%	58.48%	58.55%
Gross Profit Growth %	4.69%	27.42%	-0.09%	9.79%	33.28%	23.57%	-15.39%	-17.7%	7.3%	13.28%
Operating Expenses+	661.35M	686.75M	731.37M	800.05M	857.33M	1.01B	1.04B	1.04B	1.06B	1.17B
OpEx % of Revenue	37.72%	32.14%	34.81%	34.86%	27.47%	27.17%	32.81%	38.7%	37.42%	36.82%
Selling, General & Admin	316.54M	348.91M	390.67M	437.08M	464.77M	547.56M	558.1M	577.32M	617.05M	644.07M
SG&A % of Revenue	18.05%	16.33%	18.6%	19.05%	14.89%	14.79%	17.69%	21.57%	21.88%	20.19%
Research & Development	292.16M	307.31M	301.5M	322.82M	374.96M	427.61M	440.59M	418.09M	460.88M	504.6M
R&D % of Revenue	16.66%	14.38%	14.35%	14.07%	12.01%	11.55%	13.96%	15.62%	16.34%	15.82%
Other Operating Expenses	52.65M	30.53M	39.19M	40.15M	17.6M	30.77M	36.52M	40.28M	-22.78M	25.78M
Operating Income+	-62.97M	525.34M	473.8M	553.65M	928.41M	1.2B	831.94M	501.07M	593.79M	693.4M
Operating Margin %	-3.59%	24.59%	22.55%	24.12%	29.74%	32.43%	26.37%	18.72%	21.06%	21.74%
Operating Income Growth %	-125.92%	934.28%	-9.81%	16.85%	67.69%	29.33%	-30.71%	-39.77%	18.5%	16.78%
EBITDA+	57.04M	633.42M	587.02M	674.31M	1.06B	1.33B	942.61M	611.95M	713.53M	820.12M
EBITDA Margin %	3.25%	29.65%	27.94%	29.38%	33.8%	35.82%	29.88%	22.87%	25.3%	25.71%
EBITDA Growth %	-85.14%	1010.5%	-7.32%	14.87%	56.48%	25.69%	-28.92%	-35.08%	16.6%	14.94%
D&A (Non-Cash Add-back)	120.01M	108.08M	113.22M	120.66M	126.74M	125.48M	110.67M	110.89M	119.74M	126.72M
EBIT	-51.42M	546.08M	489.58M	548M	925.2M	1.18B	844.1M	529.38M	612.67M	653.26M
Net Interest Income+	5.66M	-3.86M	-1.32M	-5.23M	-18.2M	-15.19M	2.66M	23.54M	21.18M	10.83M
Interest Income	9.3M	17.8M	20.46M	16.99M	5.98M	2.63M	6.38M	27.35M	24.77M	18.85M
Interest Expense	3.64M	21.66M	21.78M	22.22M	24.18M	17.82M	3.72M	3.81M	3.59M	8.02M
Other Income/Expense	7.91M	-931K	-6M	-27.88M	-27.39M	-39.77M	8.45M	24.5M	8.09M	-60.06M
Pretax Income+	-55.06M	524.41M	467.8M	525.77M	901.01M	1.16B	840.38M	525.57M	601.88M	633.35M
Pretax Margin %	-3.14%	24.54%	22.27%	22.91%	28.87%	31.35%	26.64%	19.64%	21.34%	19.85%
Income Tax+	-11.64M	266.72M	16.02M	58.3M	116.87M	146.37M	124.88M	76.82M	59.5M	79.3M
Effective Tax Rate %	78.86%	49.14%	96.58%	88.91%	87.03%	87.39%	85.14%	85.38%	90.11%	87.48%
Net Income+	-43.42M	257.69M	451.78M	467.47M	784.15M	1.01B	715.5M	448.75M	542.37M	554.05M
Net Margin %	-2.48%	12.06%	21.51%	20.37%	25.12%	27.4%	22.68%	16.77%	19.23%	17.37%
Net Income Growth %	-121.03%	693.47%	75.32%	3.47%	67.74%	29.39%	-29.48%	-37.28%	20.86%	2.15%
Net Income (Continuing)	-43.42M	257.69M	451.78M	467.47M	784.15M	1.01B	715.5M	448.75M	542.37M	554.05M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.21	1.28	2.35	2.60	4.28	5.53	4.22	2.73	3.32	3.48
EPS Growth %	-121.65%	709.52%	83.59%	10.64%	64.62%	29.21%	-23.69%	-35.31%	21.61%	4.82%
EPS (Basic)	-0.21	1.30	2.41	2.74	4.72	6.15	4.52	2.91	3.41	3.49
Diluted Shares Outstanding	202.58M	201.64M	192.6M	179.46M	183.04M	183.63M	169.73M	164.3M	163.31M	157.65M
Basic Shares Outstanding	202.58M	198.07M	187.67M	170.43M	166.12M	164.96M	158.43M	154.31M	159.08M	156.41M
Dividend Payout Ratio	-	21.52%	14.9%	13.11%	8.48%	6.5%	9.74%	15.13%	14.09%	13.77%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	1.62B	2.27B	1.73B	1.66B	2.42B	2.58B	2.26B	2.16B	1.82B	1.94B
Cash & Short-Term Investments	1.18B	1.78B	1.12B	911.23M	1.44B	1.37B	894.38M	819.73M	599.67M	322M
Cash Only	307.88M	429.84M	926.75M	773.92M	914.12M	1.12B	854.77M	757.57M	553.35M	293.75M
Short-Term Investments	871.02M	1.35B	190.1M	137.3M	522.28M	244.23M	39.61M	62.15M	46.31M	28.25M
Accounts Receivable	192.44M	272.78M	291.27M	362.37M	497.51M	550.75M	491.14M	422.12M	471.43M	773.57M
Days Sales Outstanding	40.06	46.6	50.61	57.63	58.17	54.29	56.82	57.57	61.02	88.51
Inventory	212.97M	190.03M	285.18M	340.08M	434.48M	607.81M	816.12M	812.23M	664.37M	379.55M
Days Inventory Outstanding	97.83	75.79	118.23	129.96	118.72	148.27	231.3	260.16	207.09	104.78
Other Current Assets	8.04M	4.03M	8.31M	11.9M	9.25M	9.45M	14.4M	61.24M	17.73M	33.27M
Total Non-Current Assets+	1.14B	839.26M	974.12M	1.13B	1.24B	1.23B	1.24B	1.32B	1.89B	2.23B
Property, Plant & Equipment	253.82M	268.45M	279.82M	377.75M	449.37M	456.05M	492.42M	518.91M	578.36M	639.63M
Fixed Asset Turnover	6.91x	7.96x	7.51x	6.08x	6.95x	8.12x	6.41x	5.16x	4.88x	4.99x
Goodwill	223.34M	252.01M	381.85M	416.43M	453.86M	426.02M	403.19M	415.65M	395.37M	521.02M
Intangible Assets	100.4M	79.09M	125.48M	125.48M	100.94M	75.64M	53.48M	35.4M	15.93M	51.27M
Long-Term Investments	433.84M	125.93M	87.73M	104.49M	117.98M	133.86M	110.78M	117.43M	618.62M	663.35M
Other Non-Current Assets	19.88M	29.77M	28.39M	28.79M	26.85M	39.21M	40.69M	61.62M	61.61M	359.02M
Total Assets+	2.76B	3.11B	2.71B	2.79B	3.65B	3.81B	3.5B	3.49B	3.71B	4.17B
Asset Turnover	0.63x	0.69x	0.78x	0.82x	0.85x	0.97x	0.90x	0.77x	0.76x	0.76x
Asset Growth %	8.39%	12.56%	-12.96%	2.97%	31.05%	4.3%	-8.09%	-0.41%	6.36%	12.44%
Total Current Liabilities+	372.7M	454.34M	476.29M	539.03M	700.87M	805.12M	746.26M	659.95M	624.58M	1.1B
Accounts Payable	95.36M	86.39M	100.69M	126.62M	133.66M	153.13M	139.72M	180.13M	134.79M	269.19M
Days Payables Outstanding	43.8	34.46	41.74	48.39	36.52	37.36	39.6	57.7	42.02	74.31
Short-Term Debt	0	0	0	19.48M	53.92M	39.16M	68.71M	17.52M	18.7M	200M
Deferred Revenue (Current)	0	83.61M	77.71M	104.88M	134.66M	146.19M	148.28M	99.8M	107.71M	0
Other Current Liabilities	136.91M	83.58M	113.14M	79.98M	77.58M	124.19M	112.27M	122.09M	90.78M	139.78M
Current Ratio	4.36x	5.00x	3.64x	3.08x	3.45x	3.20x	3.03x	3.28x	2.91x	1.76x
Quick Ratio	3.79x	4.58x	3.04x	2.45x	2.83x	2.44x	1.93x	2.05x	1.84x	1.41x
Cash Conversion Cycle	94.09	87.93	127.09	139.21	140.37	165.21	248.52	260.03	226.1	118.98
Total Non-Current Liabilities+	561.14M	701.56M	707.96M	767.83M	740.67M	440.35M	303.69M	300.98M	264.84M	272.64M
Long-Term Debt	352.67M	365.99M	379.98M	440.54M	418.84M	145.42M	64.18M	65.09M	57.92M	63.9M
Capital Lease Obligations	0	0	0	45.85M	42.07M	56.18M	64.18M	65.09M	57.92M	63.9M
Deferred Tax Liabilities	12.14M	6.72M	20.66M	14.07M	10.82M	6.33M	3.27M	183K	1.04M	5.38M
Other Non-Current Liabilities	196.32M	298.73M	274.57M	221.4M	210.58M	177.5M	126.94M	133.33M	107.45M	88.58M
Total Liabilities	933.83M	1.16B	1.18B	1.31B	1.44B	1.25B	1.05B	960.93M	889.42M	1.37B
Total Debt+	352.67M	365.99M	379.98M	505.86M	514.83M	240.76M	197.06M	147.71M	134.54M	347.14M
Net Debt	44.78M	-63.86M	-546.77M	-268.06M	-399.29M	-881.44M	-657.71M	-609.87M	-418.81M	53.39M
Debt / Equity	0.19x	0.19x	0.25x	0.34x	0.23x	0.09x	0.08x	0.06x	0.05x	0.12x
Debt / EBITDA	6.18x	0.58x	0.65x	0.75x	0.49x	0.18x	0.21x	0.24x	0.19x	0.42x
Net Debt / EBITDA	0.79x	-0.10x	-0.93x	-0.40x	-0.38x	-0.66x	-0.70x	-1.00x	-0.59x	0.07x
Interest Coverage	-17.31x	24.25x	21.75x	24.91x	38.39x	67.38x	223.70x	131.65x	165.54x	86.44x
Total Equity+	1.83B	1.95B	1.52B	1.48B	2.21B	2.56B	2.45B	2.53B	2.82B	2.8B
Equity Growth %	-6.98%	6.83%	-22.08%	-2.77%	49.36%	15.97%	-4.39%	3.04%	11.62%	-0.83%
Book Value per Share	9.03	9.69	7.90	8.25	12.08	13.96	14.44	15.37	17.26	17.73
Total Shareholders' Equity	1.83B	1.95B	1.52B	1.48B	2.21B	2.56B	2.45B	2.53B	2.82B	2.8B
Common Stock	24.9M	24.44M	21.94M	20.8M	24.55M	21.79M	19.47M	19.09M	20.21M	2.8B
Retained Earnings	230.29M	272.01M	-158.19M	-241.92M	387.41M	736.57M	725.73M	706.51M	970.76M	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-20.21M	18.78M	-13.04M	-18.85M	33.52M	-5.95M	-49.87M	-26.98M	-81.22M	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	445.8M	626.5M	476.88M	578.75M	868.93M	1.1B	577.92M	585.23M	672.18M	674.41M
Operating CF Margin %	25.43%	29.32%	22.7%	25.22%	27.84%	29.66%	18.32%	21.87%	23.84%	21.14%
Operating CF Growth %	8.58%	40.53%	-23.88%	21.36%	50.14%	26.4%	-47.38%	1.26%	14.86%	0.33%
Net Income	-43.42M	257.69M	451.78M	467.47M	784.15M	1.01B	715.5M	448.75M	542.37M	554.05M
Depreciation & Amortization	120.01M	108.08M	113.22M	120.66M	110.92M	112.53M	110.1M	111.12M	119.74M	126.72M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-62.94M	37.1M	28.34M	-9.46M	-15.69M	-17.3M	-38.69M	-37.64M	-46.36M	-52.07M
Other Non-Cash Items	391.39M	40.53M	47.07M	51.79M	58.93M	87.32M	63.6M	72.64M	32.55M	118.23M
Working Capital Changes	40.76M	183.09M	-163.53M	-51.71M	-69.38M	-98.77M	-272.58M	-9.64M	23.88M	-72.51M
Change in Receivables	18.32M	-80.58M	-17.94M	-70.44M	-129.45M	-57.78M	50.63M	70.98M	-52.66M	-292.25M
Change in Inventory	34.26M	44.96M	-29.5M	-27.41M	-8.44M	6.5M	-80.81M	5.33M	8.71M	-28.42M
Change in Payables	-1.71M	43.57M	13.69M	49.28M	73.17M	129.5M	-60.51M	46.78M	-54.39M	208.85M
Cash from Investing+	-640.46M	-262.8M	923.01M	-156.66M	-569.79M	120.36M	43.75M	-179.65M	-622.34M	-368.62M
Capital Expenditures	-85.27M	-105.38M	-114.38M	-134.64M	-184.98M	-132.47M	-163.25M	-159.64M	-198.09M	-224.01M
CapEx % of Revenue	4.86%	4.93%	5.44%	5.87%	5.93%	3.58%	5.17%	5.96%	7.02%	7.02%
Acquisitions	0	0	-161.55M	-79.74M	149K	-12M	3.41M	0	90.35M	-144.38M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.05M	5.06M	1.13M	2.91M	546K	0	0	-4.54M	873K	0
Cash from Financing+	237.84M	-245.19M	-903.42M	-574.35M	-158.29M	-1.01B	-892.99M	-501.91M	-251.77M	-562.25M
Debt Issued (Net)	450.8M	0	0	0	0	-342.99M	-66.76M	-50.26M	0	200M
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-48.62M	-55.45M	-67.32M	-61.3M	-66.48M	-65.98M	-69.71M	-67.88M	-76.42M	-76.31M
Share Repurchases	-146.33M	-200.3M	-823.48M	-500M	-88.47M	-600M	-752.08M	-397.24M	-198.57M	-702.1M
Other Financing	-5.5M	-1.05M	-13.57M	-27.61M	-8.85M	0	0	0	0	-15.7M
Net Change in Cash	43.18M	121.96M	496.91M	-152.83M	140.2M	208.08M	-267.43M	-97.2M	-204.22M	-259.6M
Free Cash Flow+	360.53M	521.12M	362.5M	444.11M	683.96M	965.89M	414.67M	425.59M	474.08M	450.41M
FCF Margin %	20.56%	24.39%	17.26%	19.35%	21.91%	26.08%	13.14%	15.9%	16.81%	14.12%
FCF Growth %	12.42%	44.54%	-30.44%	22.51%	54.01%	41.22%	-57.07%	2.63%	11.39%	-4.99%
FCF per Share	1.78	2.58	1.88	2.47	3.74	5.26	2.44	2.59	2.90	2.86
FCF Conversion (FCF/Net Income)	-10.27x	2.43x	1.06x	1.24x	1.11x	1.08x	0.81x	1.30x	1.24x	1.22x
Interest Paid	446K	6.45M	6.21M	6M	6.43M	4.24M	1.5M	296K	767K	0
Taxes Paid	40.42M	53.77M	72.81M	81.41M	106.58M	172.13M	193.25M	140.24M	121.43M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-2.29%	13.63%	25.99%	31.14%	42.49%	42.5%	28.53%	18.03%	20.29%	19.73%
Return on Invested Capital (ROIC)	-2.64%	20.94%	24.8%	37.96%	46.06%	51.55%	35.9%	20.26%	20.63%	19.81%
Gross Margin	54.68%	57.17%	58.09%	58.38%	57.21%	59.59%	59.18%	57.42%	58.48%	58.55%
Net Margin	-2.48%	12.06%	21.51%	20.37%	25.12%	27.4%	22.68%	16.77%	19.23%	17.37%
Debt / Equity	0.19x	0.19x	0.25x	0.34x	0.23x	0.09x	0.08x	0.06x	0.05x	0.12x
Interest Coverage	-17.31x	24.25x	21.75x	24.91x	38.39x	67.38x	223.70x	131.65x	165.54x	86.44x
FCF Conversion	-10.27x	2.43x	1.06x	1.24x	1.11x	1.08x	0.81x	1.30x	1.24x	1.22x
Revenue Growth	6.93%	21.87%	-1.68%	9.24%	36.01%	18.63%	-14.79%	-15.17%	5.36%	13.13%

Teradyne, Inc. (TER) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare TER vs Peers

vs KLAC

vs NVMI

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios

Teradyne, Inc. (TER) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare TER vs Peers

vs KLAC

vs NVMI

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios