TER · Teradyne, Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $3.19B | $2.82B | $2.68B | $3.16B | $3.70B | $3.12B |
| Cost of Revenue | $1.33B | $1.17B | $1.14B | $1.29B | $1.50B | $1.34B |
| Gross Profit | $1.86B | $1.65B | $1.54B | $1.87B | $2.21B | $1.79B |
| R&D | $504.60M | $460.88M | $418.09M | $440.59M | $427.61M | $374.96M |
| SG&A | $648.87M | $617.05M | $577.32M | $558.10M | $547.56M | $464.77M |
| Total Operating Expenses | $1.21B | $1.06B | $1.04B | $1.04B | $1.01B | $857.33M |
| D&A | $127.98M | $119.74M | $110.89M | $110.67M | $125.48M | $126.74M |
| Operating Income | $650.05M | $593.79M | $501.07M | $831.94M | $1.20B | $928.41M |
| Interest Expense | $6.85M | $3.59M | $3.81M | $3.72M | $17.82M | $24.18M |
| Income Tax | $79.30M | $59.50M | $76.82M | $124.88M | $146.37M | $116.87M |
| Net Income | $554.05M | $542.37M | $448.75M | $715.50M | $1.01B | $784.15M |
| EPS - Basic | $3.48 | $3.41 | $2.91 | $4.52 | $6.15 | $4.72 |
| EPS - Diluted | $3.47 | $3.32 | $2.73 | $4.22 | $5.53 | $4.28 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $293.75M | $553.35M | $757.57M | $854.77M | $1.12B | $914.12M |
| Accounts Receivable | $786.91M | $471.43M | $422.12M | $491.14M | $550.75M | $497.51M |
| Inventory | $379.55M | $298.49M | $309.97M | $325.02M | $243.33M | $222.19M |
| Accounts Payable | $269.19M | $134.79M | $180.13M | $139.72M | $153.13M | $133.66M |
| Current Assets | $1.95B | $1.82B | $2.16B | $2.26B | $2.58B | $2.42B |
| Total Assets | $4.18B | $3.71B | $3.49B | $3.50B | $3.81B | $3.65B |
| Current Liabilities | $1.12B | $624.58M | $659.95M | $746.26M | $805.12M | $700.87M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $1.39B | $889.42M | $960.93M | $1.05B | $1.25B | $1.44B |
| Stockholders' Equity | $2.80B | $2.82B | $2.53B | $2.45B | $2.56B | $2.21B |
| Retained Earnings | $744.43M | $970.76M | $706.51M | $725.73M | $736.57M | $387.41M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $674.41M | $672.18M | $585.23M | $577.92M | $1.10B | $868.93M |
| Investing Cash Flow | ($368.62M) | ($622.34M) | ($179.65M) | $43.75M | $120.36M | ($569.79M) |
| Financing Cash Flow | ($562.25M) | ($251.77M) | ($501.91M) | ($892.99M) | ($1.01B) | ($158.29M) |
| CapEx | $224.01M | $198.09M | $159.64M | $163.25M | $132.47M | $184.98M |
| Free Cash Flow | $450.41M | $474.08M | $425.59M | $414.67M | $965.89M | $683.96M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 58.2% | 58.5% | 57.4% | 59.2% | 59.6% | 57.2% |
| Operating margin | 20.4% | 21.1% | 18.7% | 26.4% | 32.4% | 29.7% |
| EBITDA margin | 24.4% | 25.3% | 22.9% | 29.9% | 35.8% | 33.8% |
| Net margin | 17.4% | 19.2% | 16.8% | 22.7% | 27.4% | 25.1% |
| Free cash flow margin | 14.1% | 16.8% | 15.9% | 13.1% | 26.1% | 21.9% |
| FCF / Net income | 0.81 | 0.87 | 0.95 | 0.58 | 0.95 | 0.87 |
| R&D / Revenue | 15.8% | 16.3% | 15.6% | 14.0% | 11.5% | 12.0% |
| SG&A / Revenue | 20.3% | 21.9% | 21.6% | 17.7% | 14.8% | 14.9% |
| Effective tax rate | 12.5% | 9.9% | 14.6% | 14.9% | 12.6% | 13.0% |
| Return on assets | 13.2% | 14.6% | 12.9% | 20.4% | 26.6% | 21.5% |
| Return on equity | 19.8% | 19.2% | 17.8% | 29.2% | 39.6% | 35.5% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 1.75 | 2.91 | 3.28 | 3.03 | 3.20 | 3.45 |
| Quick ratio | 1.41 | 2.43 | 2.81 | 2.59 | 2.90 | 3.13 |
| Cash ratio | 0.26 | 0.89 | 1.15 | 1.15 | 1.39 | 1.30 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | 95.0x | 165.5x | 131.7x | 223.7x | 67.4x | 38.4x |
| Equity multiplier | 1.50 | 1.32 | 1.38 | 1.43 | 1.49 | 1.65 |
| Liabilities / Assets | 0.33 | 0.24 | 0.28 | 0.30 | 0.33 | 0.39 |
| Efficiency | ||||||
| Asset turnover | 0.76 | 0.76 | 0.77 | 0.90 | 0.97 | 0.85 |
| Inventory turnover | 3.51 | 3.92 | 3.68 | 3.96 | 6.15 | 6.01 |
| Days sales outstanding | 90d | 61d | 58d | 57d | 54d | 58d |
| Days inventory outstanding | 104d | 93d | 99d | 92d | 59d | 61d |
| Days payable outstanding | 74d | 42d | 58d | 40d | 37d | 37d |
| Cash conversion cycle | 120d | 112d | 99d | 109d | 76d | 82d |
| Valuation | ||||||
| P / E | 55.8x | 37.9x | 39.8x | 20.7x | 29.6x | 28.0x |
| P / B | 11.1x | 7.3x | 7.1x | 6.0x | 11.7x | 9.9x |
| P / S | 9.7x | 7.3x | 6.7x | 4.7x | 8.1x | 7.0x |
| EV / EBITDA | 39.4x | 28.0x | 27.9x | 14.8x | 21.8x | 19.9x |
| Growth | ||||||
| Revenue growth (YoY) | 13.1% | 5.4% | -15.2% | -14.8% | 18.6% | 36.0% |
| Revenue CAGR (3y) | 0.4% | -8.7% | -5.0% | 11.2% | 20.8% | 13.5% |
| Revenue CAGR (5y) | 0.4% | 4.2% | 5.0% | 8.1% | 16.1% | 13.7% |
| Gross profit growth (YoY) | 12.6% | 7.3% | -17.7% | -15.4% | 23.6% | 33.3% |
| Operating income growth (YoY) | 9.5% | 18.5% | -39.8% | -30.7% | 29.3% | 67.7% |
| Net income growth (YoY) | 2.2% | 20.9% | -37.3% | -29.5% | 29.4% | 67.7% |
| EPS growth (YoY) | 4.5% | 21.6% | -35.3% | -23.7% | 29.2% | 64.6% |
| EPS CAGR (3y) | -6.3% | -15.6% | -13.9% | 17.5% | 33.0% | 49.5% |
| EPS CAGR (5y) | -4.1% | 5.0% | 3.0% | 26.9% | - | 34.6% |
| FCF growth (YoY) | -5.0% | 11.4% | 2.6% | -57.1% | 41.2% | 54.0% |
| FCF CAGR (5y) | -8.0% | 1.3% | 4.5% | -4.5% | 21.8% | 16.2% |
| Book value growth (YoY) | -0.8% | 11.6% | 3.0% | -4.3% | 16.1% | 49.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$2.19B totalSemiconductor Test$1.60B · 73.4%
Robotics$300.08M · 13.7%
Product Test$282.25M · 12.9%
Product / service
$3.19B totalProduct$2.66B · 83.4%
Service$529.83M · 16.6%
Geographic
$5.08B totalAsia Pacific$1.74B · 34.3%
TW$1.16B · 22.7%
CN$451.29M · 8.9%
KR$446.30M · 8.8%
US$360.89M · 7.1%
Europe$215.43M · 4.2%
Rest Of World$132.54M · 2.6%
MY$107.37M · 2.1%
SG$95.22M · 1.9%
PH$92.52M · 1.8%
Americas$85.20M · 1.7%
TH$67.65M · 1.3%
JP$65.62M · 1.3%
EMEA$60.94M · 1.2%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.38
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Instruments For Meas & Testing of Electricity & Elec Signals
Comparing TERADYNE against the 5 most active filers in the same SIC group.
Dividends
$0.50/share trailing 12 months · +4.2% YoY
| Ex-date | Per share |
|---|---|
| May 21, 2026 | $0.1300 |
| Feb 13, 2026 | $0.1300 |
| Nov 24, 2025 | $0.1200 |
| Sep 5, 2025 | $0.1200 |
| May 22, 2025 | $0.1200 |
| Feb 14, 2025 | $0.1200 |
| Nov 25, 2024 | $0.1200 |
| Sep 5, 2024 | $0.1200 |
| May 21, 2024 | $0.1200 |
| Feb 15, 2024 | $0.1200 |
| Nov 24, 2023 | $0.1100 |
| Aug 31, 2023 | $0.1100 |
| May 23, 2023 | $0.1100 |
| Feb 16, 2023 | $0.1100 |
| Nov 25, 2022 | $0.1100 |
| Aug 30, 2022 | $0.1100 |
| May 24, 2022 | $0.1100 |
| Feb 17, 2022 | $0.1100 |
| Nov 23, 2021 | $0.1000 |
| Aug 31, 2021 | $0.1000 |
| May 25, 2021 | $0.1000 |
| Feb 18, 2021 | $0.1000 |
| Nov 24, 2020 | $0.1000 |
| Sep 2, 2020 | $0.1000 |