Teradyne, Inc. engages in the design, development, manufacture, and sale of automated test systems and robotics products in the United States, Asia Pacific, Europe, the Middle East, and Africa. The company operates through Semiconductor Test, Robotics, and Other segments. The Semiconductor Test segment offers products and services for wafer level and device package testing, and system level testing of semiconductor devices 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, including microcontrollers; 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 Robotics segment provides collaborative robotic arms and autonomous mobile robots for manufacturing, logistics, and industrial customers. It also provides product test instruments which includes operations related to the design, manufacturing and marketing of products and services for defense/aerospace test, circuit-board test, wireless test systems, and silicon photonics testing. Teradyne, Inc. was incorporated in 1960 and is headquartered in North Reading, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.2B | $788M | $554M | $450M | 19.8% | 13.1% | 2.2% |
| 2024 | $2.8B | $732M | $542M | $474M | 19.2% | 5.4% | 20.9% |
| 2023 | $2.7B | $640M | $449M | $426M | 17.8% | -15.2% | -37.3% |
| 2022 | $3.2B | $955M | $716M | $415M | 29.2% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 3,155.04 | 2,676.30 | 2,819.88 | 3,190.02 |
| Operating Revenue | - | 3,155.04 | 2,676.30 | 2,819.88 | 3,190.02 |
| Cost Of Revenue | - | 1,287.89 | 1,139.55 | 1,170.95 | 1,332.68 |
| Gross Profit | - | 1,867.15 | 1,536.75 | 1,648.93 | 1,857.34 |
| Operating Expense | - | 1,018.03 | 1,014.40 | 1,096.69 | 1,168.74 |
| Research And Development | - | 440.59 | 418.09 | 460.88 | 504.60 |
| Selling General And Administration | - | 558.10 | 577.32 | 617.05 | 648.87 |
| Total Expenses | - | 2,305.92 | 2,153.95 | 2,267.64 | 2,501.42 |
| Operating Income | - | 849.12 | 522.34 | 552.24 | 688.60 |
| Total Operating Income As Reported | - | 831.94 | 501.07 | 593.79 | 650.05 |
| EBITDA | - | 954.78 | 640.26 | 732.41 | 788.09 |
| Normalized EBITDA | - | 971.96 | 661.54 | 690.87 | 826.64 |
| EBIT | - | 844.10 | 529.38 | 612.67 | 660.11 |
| Interest Income | - | 6.38 | 27.35 | 24.77 | 15.70 |
| Interest Expense | - | 3.72 | 3.81 | 3.59 | 6.85 |
| Net Interest Income | - | 2.66 | 23.54 | 21.18 | 8.85 |
| Other Non Operating Income Expenses | - | 5.79 | 0.96 | -5.89 | -5.64 |
| Other Income Expense | - | -11.40 | -20.32 | 35.66 | -44.20 |
| Interest Income Non Operating | - | 6.38 | 27.35 | 24.77 | 15.70 |
| Interest Expense Non Operating | - | 3.72 | 3.81 | 3.59 | 6.85 |
| Net Non Operating Interest Income Expense | - | 2.66 | 23.54 | 21.18 | 8.85 |
| Pretax Income | - | 840.38 | 525.57 | 609.09 | 653.26 |
| Tax Provision | - | 124.88 | 76.82 | 59.50 | 79.30 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -2.56 | -3.11 | 4.07 | -4.67 |
| Net Income Continuous Operations | - | 715.50 | 448.75 | 542.37 | 554.05 |
| Net Income From Continuing And Discontinued Operation | - | 715.50 | 448.75 | 542.37 | 554.05 |
| Net Income From Continuing Operation Net Minority Interest | - | 715.50 | 448.75 | 542.37 | 554.05 |
| Net Income | - | 715.50 | 448.75 | 542.37 | 554.05 |
| Net Income Common Stockholders | - | 715.50 | 448.75 | 542.37 | 554.05 |
| Net Income Including Noncontrolling Interests | - | 715.50 | 448.75 | 542.37 | 554.05 |
| Normalized Income | - | 730.13 | 466.92 | 504.90 | 587.94 |
| Diluted NI Availto Com Stockholders | - | 715.50 | 448.75 | 542.37 | 554.05 |
| Basic Average Shares | - | 158.43 | 154.31 | 159.08 | 159.12 |
| Diluted Average Shares | - | 169.73 | 164.30 | 163.31 | 159.72 |
| Reconciled Depreciation | - | 110.68 | 110.89 | 119.74 | 127.98 |
| Reconciled Cost Of Revenue | - | 1,196.55 | 1,047.66 | 1,069.98 | 1,219.97 |
| Total Unusual Items | - | -17.18 | -21.28 | 41.55 | -38.55 |
| Total Unusual Items Excluding Goodwill | - | -17.18 | -21.28 | 41.55 | -38.55 |
| Earnings From Equity Interest Net Of Tax | - | 0 | 0 | -7.21 | -19.91 |
| Special Income Charges | - | -17.18 | -21.28 | 41.55 | -38.55 |
| Gain On Sale Of Business | - | 0 | 0 | 57.12 | 0 |
| Other Special Charges | 12 | 14.70 | - | - | - |
| Restructuring And Mergern Acquisition | - | 17.18 | 21.28 | 15.57 | 38.55 |
| Depreciation Amortization Depletion Income Statement | - | 19.33 | 19 | 18.76 | 15.27 |
| Depreciation And Amortization In Income Statement | - | 19.33 | 19 | 18.76 | 15.27 |
| Gain On Sale Of Ppe | - | 3.40 | - | - | - |
| Amortization | - | 19.33 | 19 | 18.76 | 15.27 |
| Amortization Of Intangibles Income Statement | - | 19.33 | 19 | 18.76 | 15.27 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Teradyne, Inc.this co. | TER | $63.7B | 114.96β discount | 22.78 | 19.8% | 80.80 |
| Ciena Corporation | CIEN | $75.8B | 614.93 | 27.79 | 4.5% | 196.65 |
| Lumentum Holdings Inc. | LITE | $73.5B | 2838.89 | 64.80 | 2.3% | 708.00 |
| Hewlett Packard Enterprise Company | HPE | $71.1B | 1247.31 | 2.88 | 0.2% | 20.41 |
| Motorola Solutions, Inc. | MSI | $68.2B |
| - |
| - |
| - |
| - |
| 31.65 |
| 28.29 |
| 89.4% |
| 21.35 |
| TE Connectivity plc | TEL | $64.4B | 34.98 | 5.12 | 14.6% | 16.75 |
| Keysight Technologies, Inc. | KEYS | $58.6B | 68.92 | 9.96 | 14.5% | 40.91 |
| Microchip Technology Incorporated | MCHP | $52.2B | 439.41 | 8.12 | 1.8% | 48.80 |
| ON Semiconductor Corporation | ON | $51.3B | 423.57 | 6.68 | 1.6% | 58.67 |
| Peer Median | - | 431.49 | 9.04 | 3.4% | 44.86 | |