Teradyne, Inc. (TER) financials
NASDAQ · Technology · Semiconductors · 6,600 employees · CEO Gregory Stephen Smith
- Price
- $274.37 -7.38%
- Market cap
- $42.9B
- Enterprise value
- $42.6B
- Last report
- Q3 '26 filed 2026-10-30
- Next report
- 2027-01-27 EPS est. $2.12
Revenue (TTM)$5B+74.9% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)32.1%+14.3 pp vs a year agoOperating income $1.61B
Net income (TTM)$1.37B+209.9% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$1.02B+124.3% vs a year agoCapex $305M
Diluted EPS (TTM)$8.71+216.7% vs a year agoSum of the last 4 quarters
Net cash$329M+1,687.1% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $42.9B EV $42.6B
- Revenue
- $5B Trailing 12 months
- Revenue growth
- +64% FY2026 consensus
- Profit margin
- 27.5% Net income / revenue, TTM
- P/E
- 31.3× Forward 28.9× (FY2026)
- P/S
- 8.6× Price / sales, TTM
- EV / EBITDA
- 23.8× TTM
- Free cash flow
- $1.02B Trailing 12 months
- Net income
- $1.37B Trailing 12 months
- Revenue estimate
- $5.23B FY2026 consensus
- Earnings
- 2027-01-27 Revenue est. $1.31B
- Dividend
- $0.51 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-27): revenue beat by 3.0%, EPS beat by 9.6%Revenue $1.31B vs $1.27B expected (+3.0%); EPS $2.29 vs $2.09 (+9.6%).
- Revenue growth accelerating: 69.8% year on yearQ3 '26 revenue $1.31B, against an average of 59.8% over the four quarters before.
- Operating margin 32.1% (TTM), +14.3 pp on a year agoOperating income grew 214.6% while revenue grew 74.9%.
- Capex 6.1% of revenue (a year ago 7.6%)$305M invested in the last 4 quarters (+39.4% on a year earlier). Free cash flow $1.02B = 74.6% of net income.
- Returned $437M to shareholders = 42.6% of free cash flowBuybacks $357M (a year earlier $662M), dividends $79.8M, stock-based pay $21.7M (TTM).
- Diluted share count down 1.0% in a year158M diluted shares in Q3 '26, 159M a year earlier.
- Net cash $329MCash + short-term investments $467M, debt incl. leases $137M; a year ago net debt $20.8M.
Last quarter: Q3 '26
Quarter ended 2026-09-27. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $1.31B | $769M | +69.8% |
| Gross margin | 59.1% | 58.4% | +0.6 pp |
| Operating income | $402M | $145M | +176.6% |
| Operating margin | 30.8% | 18.9% | +11.9 pp |
| Net income | $342M | $120M | +186.4% |
| Diluted EPS | $2.17 | $0.75 | +189.3% |
| Operating cash flow | $314M | $49.1M | +539.4% |
| Capex | $86.3M | $46.7M | +84.9% |
| Free cash flow | $227M | $2.36M | +9,539.1% |
| R&D | $163M | $125M | +30.7% |
| Stock-based compensation | $21.7M | $0 | – |
Reported vs consensus
2026-10-27| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $1.31B | $1.27B | +3.0% |
| EPS (as estimated) | $2.29 | $2.09 | +9.6% |
From the report of 2026-10-27 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Product | $1.16B | +84.2% | 89.1% | $4.44B | +89.5% | |
| Service | $142M | +3.4% | 10.9% | $559M | +8.3% |
Revenue by region
share of total| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Asia Pacific | $1.12B | +82.5% | 85.6% | – | – | |
| Americas | $123M | +23.9% | 9.4% | – | – | |
| EMEA | $64.5M | +13.1% | 4.9% | $276M | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $1.33B
- Capex
- -$305M
- Buybacks
- -$357M
- Dividends
- -$79.8M
- Acquisitions
- -$166M
- Net debt issued
- -$200M
- Stock-based compensation
- $21.7M
- Free cash flow
- $1.02B
- Returned to shareholders / FCF
- 42.6%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 31.3× | 35.1× | 19.3× – 55.5× |
| EV / EBITDA | 23.8× | 24.6× | 13.8× – 37.3× |
| EV / Sales | 8.5× | 6.7× | 4.2× – 9.5× |
| Price / FCF | 41.9× | 42.0× | 27.9× – 67.2× |
| Price / Book | 11.6× | 8.1× | 5.6× – 10.8× |
| FCF yield | 2.4% | 2.6% | 1.5% – 3.6% |
| Return on invested capital | 33.6% | 21.8% | 15.0% – 34.5% |
| Return on equity | 42.0% | 25.1% | 17.8% – 39.6% |
Analysts
Consensus target $468.14 (+70.6%)
range $397.00 – $550.00 · rating Buy
Strong buy0
Buy19
Hold12
Sell0
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $5.23B | +63.9% | $9.49 | +172.8% | 28.9× | 11 |
| FY2027 | $6.51B | +24.6% | $12.34 | +30.0% | 22.2× | 12 |
| FY2028 | $7.97B | +22.3% | $16.15 | +30.9% | 17.0× | 10 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 361 figures Teradyne, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| $174M | $524M | -66.9% | – | – | – | |
| Accounts and Financing Receivable, after Allowance for Credit Loss | $43.4M2025-12-31 | $129M | -66.4% | $43.4M2025-12-31 | $129M | -66.4% |
| Accounts Payable, Current | $517M | $228M | +126.9% | $269M2025-12-31 | $135M | +99.7% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $1.11B | $594M | +87.1% | $787M2025-12-31 | $471M | +66.9% |
| Accounts Receivable, Allowance for Credit Loss, Current | $2.77M | $1.89M | +47.0% | $2.41M2025-12-31 | $2.11M | +14.2% |
| Accrual for Environmental Loss Contingencies, Charges to Expense for New Losses | – | – | – | $1.1M2023-12-31 | – | – |
| Accrued Income Taxes, Current | $188M | $72.5M | +159.5% | $107M2025-12-31 | $67.6M | +57.9% |
| Accrued Income Taxes, Noncurrent | $02025-12-31 | $24.6M | -100.0% | $02025-12-31 | $24.6M | -100.0% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $1.05B2025-12-31 | $954M | +10.0% | $1.05B2025-12-31 | $954M | +10.0% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $5.54M | $37.4M | -85.2% | $41.9M2025-12-31 | -$81.2M | +151.6% |
| Additional Paid in Capital, Common Stock | $2.04B | $1.97B | +3.6% | $1.99B2025-12-31 | $1.91B | +4.2% |
| Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt, Subsequent Adjustments | – | – | – | $02023-12-31 | $0 | – |
| Advertising Expense | – | – | – | $12.1M2025-12-31 | $16.1M | -24.8% |
| Amortization | $5.5M | $3.87M | +42.3% | $16.5M2025-12-31 | $18.8M | -11.9% |
| Amortization of Debt Discount (Premium) | – | – | – | $02025-12-31 | $0 | – |
| Amortization of Intangible Assets | $5.25M | $3.51M | +49.4% | $15.3M2025-12-31 | $18.8M | -18.6% |
| AOCI Including Portion Attributable to Noncontrolling Interest, Tax | $0 | – | – | – | – | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $23.1M | $17M | +36.5% | $64.3M2025-12-31 | $60.4M | +6.5% |
| Asset Impairment Charges | – | – | – | $4.9M2025-12-31 | – | – |
| Assets | $5.45B | $3.96B | +37.5% | $4.18B2025-12-31 | $3.71B | +12.8% |
| Assets for Plan Benefits, Defined Benefit Plan | $12.2M | $12.7M | -3.6% | $12.1M2025-12-31 | $12M | +0.5% |
| Assets, Current | $2.79B | $1.75B | +59.4% | $1.95B2025-12-31 | $1.82B | +7.3% |
| Buildings and Improvements, Gross | $221M2025-12-31 | $183M | +20.5% | $221M2025-12-31 | $183M | +20.5% |
| Capital Expenditures Incurred but Not yet Paid | $2.5M | $3.1M | -19.3% | $3.47M2025-12-31 | $3.89M | -10.8% |
| Cash and Cash Equivalents, at Carrying Value | $461M | $273M | +69.0% | $294M2025-12-31 | $553M | -46.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $461M | $273M | +69.0% | $294M2025-12-31 | $553M | -46.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $111M | -$66.6M | +267.1% | -$260M2025-12-31 | -$204M | -27.1% |
| Common Stock, Dividends, Per Share, Cash Paid | $0.13 | $0.12 | +8.3% | $0.482025-12-31 | $0.48 | 0.0% |
| Common Stock, Par or Stated Value Per Share | $0.13 | $0.13 | 0.0% | $0.132025-12-31 | $0.13 | 0.0% |
| Common Stock, Shares Authorized | 1B | 1B | 0.0% | 1B2025-12-31 | 1B | 0.0% |
| Common Stock, Shares, Issued | 156M | 157M | -0.7% | 156M2025-12-31 | 162M | -3.5% |
| Common Stock, Shares, Outstanding | 156M | 157M | -0.7% | 156M2025-12-31 | 162M | -3.5% |
| Common Stock, Value, Issued | $19.5M | $19.7M | -0.7% | $19.5M2025-12-31 | $20.2M | -3.5% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $352K2026-06-28 | $0 | – | – | – | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $337M | $116M | +190.8% | $677M2025-12-31 | $488M | +38.7% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $343M | $116M | +195.4% | – | – | – |
| Construction in Progress, Gross | $18.5M2025-12-31 | $5.68M | +226.3% | $18.5M2025-12-31 | $5.68M | +226.3% |
| Contract with Customer, Liability, Revenue Recognized | $34.6M | $14.2M | +143.7% | $81.6M2025-12-31 | $72.7M | +12.2% |
| Cost of Goods and Services Sold | $535M | $320M | +67.1% | $1.33B2025-12-31 | $1.17B | +13.8% |
| Current Federal Tax Expense (Benefit) | – | – | – | $43.4M2025-12-31 | $40.3M | +7.8% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $87.3M2025-12-31 | $62.9M | +38.9% |
| Current Income Tax Expense (Benefit) | – | – | – | $131M2025-12-31 | $106M | +24.1% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $631K2025-12-31 | $2.72M | -76.8% |
| Debt Securities, Available-for-sale | $95.7M | $99.9M | -4.2% | $97.1M2025-12-31 | $116M | -16.3% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $7K | $343K | -98.0% | $383K2025-12-31 | $98K | +290.8% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $14M | $8.57M | +63.9% | $8.85M2025-12-31 | $10.1M | -12.2% |
| Debt Securities, Available-for-sale, Amortized Cost | $110M | $108M | +1.5% | $106M2025-12-31 | $126M | -16.2% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | $64.1M | $35.3M | +81.8% | $34.9M2025-12-31 | $36.2M | -3.5% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $17.8M | $8.58M | +107.8% | $9.29M2025-12-31 | $8.65M | +7.4% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $8.34M | $24.3M | -65.7% | $18.7M2025-12-31 | $25.6M | -26.8% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $5.87M | $25M | -76.5% | $28.2M2025-12-31 | $46.3M | -39.1% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $32.2M | $37.8M | -14.8% | $38.8M2025-12-31 | $40.9M | -5.1% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $50.3M | $11.8M | +326.3% | $1.1M2025-12-31 | $22.6M | -95.1% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | $51.5M | $27.3M | +89.0% | $26.6M2025-12-31 | $27.2M | -2.4% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $17M | $8.68M | +96.2% | $9.41M2025-12-31 | $8.23M | +14.3% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $8.02M | $24.2M | -66.8% | $18.6M2025-12-31 | $25.3M | -26.5% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $5.85M | $25M | -76.6% | $28.2M2025-12-31 | $46.3M | -39.0% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | $96.2M | $93.2M | +3.2% | $91.1M2025-12-31 | $117M | -21.9% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | $82.4M | $85.2M | -3.2% | $82.8M2025-12-31 | $107M | -22.7% |
| Debt Securities, Available-for-sale, Unrealized Loss Position | $82.6M | $49.6M | +66.4% | $39.9M2025-12-31 | $63.5M | -37.3% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-27, 10-Q 2026-06-28, 10-Q 2026-03-29, 10-K 2025-12-31, 10-Q 2025-09-28, 10-Q 2025-06-29, 10-Q 2025-03-30, 10-K 2024-12-31, 10-Q 2024-09-29
Data as of 2026-11-02