NASDAQ : TER
Teradyne, Inc. — Financial statements
Technology · Semiconductor Equipment & Materials · United States
Last price 296.23 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 46.31B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Teradyne, Inc. (TER) reported revenue of 5.00B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 5.00B | 3.19B | 2.82B | 2.68B | 3.16B | 3.70B |
| Cost of Revenue | 2.03B | 1.33B | 1.17B | 1.14B | 1.29B | 1.50B |
| Gross Profit | 2.97B | 1.86B | 1.65B | 1.54B | 1.87B | 2.21B |
| Selling, General & Admin | 725.53M | 651.49M | 615.84M | 582.57M | 536.04M | 546.61M |
| Research & Development | 598.20M | 504.60M | 460.88M | 418.09M | 440.59M | 427.61M |
| Amortization of Goodwill & Intangibles | 15.90M | 15.27M | 18.76M | 19.00M | 19.33M | 21.46M |
| Other Operating Expenses | 1.04M | 1.95M | 5.47M | 877.00K | -26.41M | 2.08M |
| Operating Expenses | 1.34B | 1.17B | 1.10B | 1.02B | 969.56M | 997.76M |
| Operating Income | 1.63B | 684.03M | 547.97M | 516.21M | 897.59M | 1.21B |
| Interest Expense | -10.92M | -6.85M | -3.59M | -3.81M | -3.72M | -17.82M |
| Interest & Investment Income | 12.02M | 15.70M | 24.77M | 27.35M | 6.38M | 2.63M |
| Earnings From Equity Investments | -6.48M | -19.91M | -7.21M | |||
| Currency Exchange Gain (Loss) | -12.97M | -9.16M | -15.79M | -1.59M | -8.32M | -4.39M |
| Other Non Operating Income (Expenses) | 2.27M | -967.00K | 1.30M | 310.00K | 1.04M | 1.30M |
| EBT Excluding Unusual Items | 1.61B | 662.85M | 547.46M | 538.47M | 892.98M | 1.19B |
| Merger & Restructuring Charges | -19.10M | -31.70M | -8.80M | -17.80M | -2.90M | -487.00K |
| Gain (Loss) on Sale of Investments | 9.40M | 7.10M | 7.40M | 7.50M | -9.00M | 6.40M |
| Gain (Loss) on Sale of Assets | 57.12M | 3.41M | ||||
| Asset Writedown | -4.90M | -4.90M | ||||
| Legal Settlements | -41.40M | -12.00M | ||||
| Other Unusual Items | 1.50M | -1.30M | -2.60M | -2.70M | -23.57M | |
| Pretax Income | 1.60B | 633.35M | 601.88M | 525.57M | 840.38M | 1.16B |
| Income Tax Expense | 217.93M | 79.30M | 59.50M | 76.82M | 124.88M | 146.37M |
| Net Income | 1.37B | 554.05M | 542.37M | 448.75M | 715.50M | 1.01B |
| Net Income to Common | 1.37B | 554.05M | 542.37M | 448.75M | 715.50M | 1.01B |
| Shares Outstanding (Basic) | 156.39M | 159.12M | 159.08M | 154.31M | 158.43M | 164.96M |
| Shares Outstanding (Diluted) | 157.62M | 159.72M | 163.31M | 164.30M | 169.73M | 183.62M |
| EPS (Basic) | 8.78 | 3.48 | 3.41 | 2.91 | 4.52 | 6.15 |
| EPS (Diluted) | 8.71 | 3.47 | 3.32 | 2.73 | 4.22 | 5.53 |
| Free Cash Flow | 1.02B | 450.41M | 474.08M | 425.59M | 414.67M | 965.89M |
| Free Cash Flow Per Share | 6.50 | 2.82 | 2.90 | 2.59 | 2.44 | 5.26 |
| Dividend Per Share | 0.51 | 0.48 | 0.48 | 0.44 | 0.44 | 0.40 |
| Gross Margin | 59.32% | 58.22% | 58.48% | 57.42% | 59.18% | 59.59% |
| Operating Margin | 32.51% | 21.44% | 19.43% | 19.29% | 28.45% | 32.65% |
| Profit Margin | 27.46% | 17.37% | 19.23% | 16.77% | 22.68% | 27.40% |
| Free Cash Flow Margin | 20.49% | 14.12% | 16.81% | 15.90% | 13.14% | 26.09% |
| EBITDA | 1.76B | 812.01M | 667.71M | 627.10M | 1.01B | 1.33B |
| EBITDA Margin | 35.29% | 25.45% | 23.68% | 23.43% | 31.96% | 36.04% |
| D&A For EBITDA | 138.96M | 127.98M | 119.74M | 110.89M | 110.67M | 125.48M |
| EBIT | 1.63B | 684.03M | 547.97M | 516.21M | 897.59M | 1.21B |
| EBIT Margin | 32.51% | 21.44% | 19.43% | 19.29% | 28.45% | 32.65% |
| Effective Tax Rate | 13.65% | 12.52% | 9.89% | 14.62% | 14.86% | 12.61% |
| Revenue as Reported | 5.00B | 3.19B | 2.82B | 2.68B | 3.16B | 3.70B |
| Advertising Expenses | 12.10M | 16.10M | 15.50M | 17.30M | 13.40M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 460.74M | 293.75M | 553.35M | 757.57M | 854.77M | 1.12B |
| Short-Term Investments | 5.85M | 28.25M | 46.31M | 62.15M | 39.61M | 244.23M |
| Cash & Short-Term Investments | 466.59M | 322.00M | 599.67M | 819.73M | 894.38M | 1.37B |
| Receivables | 1.11B | 786.91M | 471.43M | 422.12M | 491.14M | 550.75M |
| Inventory | 574.99M | 379.55M | 298.49M | 309.97M | 325.02M | 243.33M |
| Prepaid Expenses | 73.25M | 63.39M | 63.21M | 46.71M | 41.86M | 41.70M |
| Other Current Assets | 564.60M | 397.44M | 383.60M | 563.50M | 505.51M | 374.02M |
| Total Current Assets | 2.79B | 1.95B | 1.82B | 2.16B | 2.26B | 2.58B |
| Property, Plant & Equipment | 801.25M | 639.63M | 578.36M | 518.91M | 492.42M | 456.05M |
| Long-Term Investments | 676.84M | 663.35M | 618.62M | 117.43M | 110.78M | 133.86M |
| Goodwill | 663.78M | 521.02M | 395.37M | 415.65M | 403.19M | 426.02M |
| Other Intangible Assets | 96.66M | 51.27M | 15.93M | 35.40M | 53.48M | 75.64M |
| Long-Term Deferred Tax Assets | 311.09M | 275.26M | 222.44M | 175.78M | 142.78M | 102.43M |
| Other Long-Term Assets | 109.35M | 83.76M | 61.61M | 61.62M | 40.69M | 39.21M |
| Total Assets | 5.45B | 4.18B | 3.71B | 3.49B | 3.50B | 3.81B |
| Accounts Payable | 516.97M | 269.19M | 134.79M | 180.13M | 139.72M | 153.13M |
| Accrued Expenses | 377.95M | 347.67M | 282.81M | 290.76M | 310.36M | 353.28M |
| Short-Term Debt | 200.00M | |||||
| Current Portion of Long-Term Debt | 50.12M | 19.18M | ||||
| Current Portion of Leases | 17.06M | 19.34M | 18.70M | 17.52M | 18.59M | 19.98M |
| Current Income Taxes Payable | 188.10M | 106.74M | 67.61M | 48.65M | 65.01M | 88.79M |
| Current Unearned Revenue | 211.68M | 153.12M | 107.71M | 99.80M | 148.28M | 146.19M |
| Other Current Liabilities | 29.67M | 19.15M | 12.96M | 23.08M | 14.18M | 24.58M |
| Total Current Liabilities | 1.34B | 1.12B | 624.58M | 659.95M | 746.26M | 805.12M |
| Long-Term Debt | 89.24M | |||||
| Long-Term Leases | 120.05M | 63.90M | 57.92M | 65.09M | 64.18M | 56.18M |
| Long-Term Unearned Revenue | 58.34M | 50.89M | 40.51M | 37.28M | 45.13M | 54.92M |
| Pension & Post-Retirement Benefits | 152.91M | 144.87M | 133.34M | 132.09M | 116.00M | 151.14M |
| Long-Term Deferred Tax Liabilities | 10.84M | 5.38M | 1.04M | 183.00K | 3.27M | 6.33M |
| Other Long-Term Liabilities | 28.65M | 7.60M | 32.04M | 66.33M | 75.12M | 84.05M |
| Total Liabilities | 1.71B | 1.39B | 889.42M | 960.93M | 1.05B | 1.25B |
| Common Stock | 19.52M | 19.51M | 20.21M | 19.09M | 19.47M | 20.28M |
| Additional Paid-In Capital | 2.04B | 1.99B | 1.91B | 1.83B | 1.76B | 1.81B |
| Retained Earnings | 1.62B | 744.43M | 970.76M | 706.51M | 725.73M | 736.57M |
| Comprehensive Income & Other | 5.54M | 41.90M | -81.22M | -26.98M | -49.87M | -5.95M |
| Shareholders' Equity | 3.74B | 2.80B | 2.82B | 2.53B | 2.45B | 2.56B |
| Total Liabilities & Equity | 5.45B | 4.18B | 3.71B | 3.49B | 3.50B | 3.81B |
| Total Debt | 137.12M | 283.24M | 76.62M | 82.61M | 132.88M | 184.58M |
| Net Cash (Debt) | 487.75M | 165.01M | 647.17M | 854.54M | 872.28M | 1.32B |
| Net Cash Per Share | 3.09 | 1.03 | 3.96 | 5.20 | 5.14 | 7.17 |
| Filing Date Shares Outstanding | 156.12M | 156.56M | 161.72M | 153.08M | 156.05M | 162.42M |
| Total Common Shares Outstanding | 156.15M | 156.09M | 161.72M | 152.70M | 155.76M | 162.25M |
| Working Capital | 1.45B | 834.09M | 1.19B | 1.50B | 1.51B | 1.77B |
| Book Value Per Share | 23.62 | 17.91 | 17.43 | 16.54 | 15.74 | 15.79 |
| Tangible Book Value | 2.93B | 2.22B | 2.41B | 2.07B | 1.99B | 2.06B |
| Tangible Book Value Per Share | 18.75 | 14.24 | 14.89 | 13.59 | 12.81 | 12.70 |
| Land | 19.57M | 19.41M | 19.49M | 18.48M | 17.21M | |
| Buildings | 220.92M | 183.37M | 127.70M | 128.99M | 126.47M | |
| Machinery | 1.29B | 1.19B | 1.07B | 1.08B | 1.01B | |
| Construction In Progress | 18.53M | 5.68M | 54.80M | 22.47M | 8.11M | |
| Leasehold Improvements | 64.60M | 67.39M | 66.78M | 64.63M | 64.11M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.37B | 554.05M | 542.37M | 448.75M | 715.50M | 1.01B |
| Depreciation & Amortization | 138.96M | 127.98M | 119.74M | 110.89M | 110.67M | 125.48M |
| Loss (Gain) From Sale of Assets | -57.12M | -3.41M | ||||
| Loss (Gain) From Sale of Investments | -7.77M | -5.42M | 10.06M | -14.91M | 9.98M | -6.41M |
| Loss (Gain) on Equity Investments | 6.48M | 19.91M | 7.21M | |||
| Stock-Based Compensation | 80.09M | 64.00M | 60.12M | 57.68M | 48.23M | 45.64M |
| Other Operating Activities | -19.08M | -13.60M | -34.08M | -7.54M | -30.47M | 17.82M |
| Change in Accounts Receivable | -496.55M | -305.60M | -52.66M | 70.98M | 50.63M | -57.78M |
| Change in Inventory | -172.60M | -28.42M | 8.71M | 5.33M | -80.81M | 6.50M |
| Change in Accounts Payable | 435.02M | 208.85M | -54.39M | 46.78M | -60.51M | 129.50M |
| Change in Unearned Revenue | 91.02M | 52.63M | 12.18M | -57.21M | -6.23M | 9.87M |
| Change in Income Taxes | 115.92M | 15.12M | -3.60M | -26.92M | -29.83M | -5.60M |
| Change in Other Net Operating Assets | -215.03M | -15.07M | 113.64M | -48.59M | -145.83M | -181.25M |
| Operating Cash Flow | 1.33B | 674.41M | 672.18M | 585.23M | 577.92M | 1.10B |
| Capital Expenditures | -304.65M | -224.01M | -198.09M | -159.64M | -163.25M | -132.47M |
| Sale of Property, Plant & Equipment | 3.41M | |||||
| Cash Acquisitions | -165.61M | -144.38M | -12.00M | |||
| Divestitures | 90.35M | |||||
| Investment in Securities | -26.45M | -228.00K | -515.47M | -15.46M | 203.59M | 264.83M |
| Other Investing Activities | 873.00K | 460.00K | ||||
| Investing Cash Flow | -496.71M | -368.62M | -622.34M | -179.65M | 43.75M | 120.36M |
| Long-Term Debt Issued | 250.00M | 185.00M | ||||
| Long-Term Debt Repaid | -50.00M | -185.00M | -50.26M | -66.76M | -342.99M | |
| Net Debt Issued (Repaid) | -200.00M | 200.00M | -50.26M | -66.76M | -342.99M | |
| Issuance of Common Stock | 35.49M | 31.86M | 37.33M | 34.26M | 28.73M | 32.69M |
| Repurchase of Common Stock | -356.94M | -702.10M | -198.57M | -397.24M | -752.08M | -600.00M |
| Common Dividends Paid | -79.76M | -76.31M | -76.42M | -67.88M | -69.71M | -65.98M |
| Other Financing Activities | -45.29M | -15.70M | -14.10M | -20.79M | -33.17M | -32.30M |
| Financing Cash Flow | -646.50M | -562.25M | -251.77M | -501.91M | -892.99M | -1.01B |
| Foreign Exchange Rate Adjustments | 1.74M | -3.15M | -2.28M | -876.00K | 3.89M | -2.06M |
| Net Cash Flow | 188.04M | -259.60M | -204.22M | -97.20M | -267.43M | 208.08M |
| Free Cash Flow | 1.02B | 450.41M | 474.08M | 425.59M | 414.67M | 965.89M |
| Free Cash Flow Margin | 20.49% | 14.12% | 16.81% | 15.90% | 13.14% | 26.09% |
| Free Cash Flow Per Share | 6.50 | 2.82 | 2.90 | 2.59 | 2.44 | 5.26 |
| Levered Free Cash Flow | 600.95M | 270.63M | 411.04M | 315.28M | 312.18M | 671.32M |
| Unlevered Free Cash Flow | 607.78M | 274.91M | 413.28M | 317.65M | 314.51M | 682.46M |
| Cash Interest Paid | 3.16M | 3.16M | 767.00K | 296.00K | 1.50M | 4.24M |
| Cash Income Tax Paid | 115.17M | 115.17M | 121.43M | 140.24M | 193.25M | 172.13M |
| Change in Working Capital | -242.22M | -72.51M | 23.88M | -9.64M | -272.58M | -98.77M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 40.75B | 30.31B | 20.51B | 16.59B | 13.61B | 26.66B |
| Enterprise Value | 40.26B | 30.15B | 19.91B | 15.88B | 12.85B | 25.42B |
| Last Close Price | 261.01 | 193.33 | 125.23 | 107.48 | 86.14 | 160.55 |
| PE Ratio | 29.96 | 54.71 | 37.81 | 36.97 | 19.02 | 26.27 |
| Forward PE | 24.72 | 38.03 | 32.34 | 32.71 | 25.20 | 26.09 |
| PS Ratio | 8.15 | 9.50 | 7.27 | 6.20 | 4.31 | 7.20 |
| PB Ratio | 11.05 | 10.84 | 7.27 | 6.57 | 5.55 | 10.40 |
| P/TBV Ratio | 13.92 | 13.63 | 8.52 | 8.00 | 6.82 | 12.94 |
| P/FCF Ratio | 39.76 | 67.30 | 43.26 | 38.98 | 32.81 | 27.60 |
| P/OCF Ratio | 30.65 | 44.95 | 30.51 | 28.35 | 23.54 | 24.27 |
| PEG Ratio | 0.65 | 1.58 | 1.72 | 2.69 | 2.01 | 1.42 |
| EV/Sales Ratio | 8.05 | 9.45 | 7.06 | 5.93 | 4.07 | 6.87 |
| EV/EBITDA Ratio | 22.81 | 37.13 | 29.82 | 25.32 | 12.75 | 19.05 |
| EV/EBIT Ratio | 24.76 | 44.08 | 36.33 | 30.76 | 14.32 | 21.03 |
| EV/FCF Ratio | 39.29 | 66.95 | 42.00 | 37.31 | 30.99 | 26.32 |
| Debt / Equity Ratio | 0.04 | 0.10 | 0.03 | 0.03 | 0.05 | 0.07 |
| Debt / EBITDA Ratio | 0.08 | 0.33 | 0.11 | 0.12 | 0.13 | 0.13 |
| Debt / FCF Ratio | 0.13 | 0.63 | 0.16 | 0.19 | 0.32 | 0.19 |
| Net Debt / Equity Ratio | -0.13 | -0.06 | -0.23 | -0.34 | -0.36 | -0.51 |
| Net Debt / EBITDA Ratio | -0.28 | -0.20 | -0.97 | -1.36 | -0.86 | -0.99 |
| Net Debt / FCF Ratio | -0.48 | -0.37 | -1.36 | -2.01 | -2.10 | -1.36 |
| Asset Turnover | 1.06 | 0.81 | 0.78 | 0.77 | 0.86 | 0.99 |
| Inventory Turnover | 4.32 | 3.93 | 3.85 | 3.59 | 4.53 | 6.43 |
| Quick Ratio | 1.18 | 0.99 | 1.72 | 1.88 | 1.86 | 2.38 |
| Current Ratio | 2.08 | 1.75 | 2.91 | 3.28 | 3.03 | 3.20 |
| Return on Equity (ROE) | 42.72% | 19.73% | 20.29% | 18.03% | 28.54% | 42.55% |
| Return on Assets (ROA) | 21.59% | 10.83% | 9.52% | 9.23% | 15.35% | 20.25% |
| Return on Invested Capital (ROIC) | 42.38% | 23.68% | 24.18% | 25.34% | 49.78% | 80.53% |
| Return on Capital Employed (ROCE) | 39.60% | 22.30% | 17.80% | 18.30% | 32.60% | 40.20% |
| Earnings Yield | 3.34% | 1.83% | 2.65% | 2.71% | 5.26% | 3.81% |
| FCF Yield | 2.51% | 1.49% | 2.31% | 2.56% | 3.05% | 3.62% |
| Dividend Yield | 0.20% | 0.25% | 0.38% | 0.40% | 0.50% | 0.24% |
| Payout Ratio | 5.97% | 13.77% | 14.09% | 15.13% | 9.74% | 6.50% |
| Buyback Yield / Dilution | 2.16% | 2.20% | 0.60% | 3.20% | 7.56% | -0.32% |
| Total Shareholder Return | 2.36% | 2.45% | 0.98% | 3.60% | 8.07% | -0.08% |