TER

MKT CAP:$66B

Teradyne, Inc.

Market Cap

$66B

Technology·Semiconductors·🇺🇸 United States·NASDAQ

Technology·Semiconductors·🇺🇸·NASDAQ

Stock Price

$418.69+$211.13 (+101.72%)

Apr 24, 2026

Company Details

Teradyne, 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 ...

CEO

Gregory Stephen Smith

IPO Date

Sep 14, 1970

Website

www.teradyne.com

Key Metrics TTM

Revenue

$3.2B

+13.1% YoY

Net Income

$554M

EPS (Diluted)

$3.48

Free Cash Flow

$450M

Revenue / Share

$20.23

Gross Margin

58.3%

Operating Margin

20.9%

Net Margin

17.4%

FCF Margin

14.1%

P/S

20.5x

P/E

118.3x

Earnings Reports

Q1 2026

Apr 27, 2026

PENDING

FY 2025

Feb 19, 2026

$3.2B+13.1%EPS $3.48

Q4 2025

Feb 19, 2026

$1.1B+43.9%EPS $1.63

Q3 2025

Oct 30, 2025

$769M+4.3%EPS $0.75

Q2 2025

Aug 1, 2025

$652M-10.7%EPS $0.49

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$755M	$455M	$186M
Q2 22	$841M	$506M	$248M
Q3 22	$827M	$485M	$232M
Q4 22	$732M	$420M	$167M
Q1 23	$618M	$356M	$93M
Q2 23	$684M	$402M	$140M
Q3 23	$704M	$398M	$144M
Q4 23	$671M	$380M	$124M
Q1 24	$600M	$339M	$78M
Q2 24	$730M	$426M	$210M
Q3 24	$737M	$437M	$152M
Q4 24	$753M	$447M	$154M
Q1 25	$686M	$415M	$121M
Q2 25	$652M	$373M	$91M
Q3 25	$769M	$449M	$145M
Q4 25	$1.1B	$623M	$310M

Valuation

Quarter	P/S	P/E
Q1 22	5.7x	21.3x
Q2 22	4.6x	17.7x
Q3 22	3.6x	15.3x
Q4 22	4.6x	20.3x
Q1 23	5.5x	25.9x
Q2 23	6.0x	30.7x
Q3 23	5.6x	30.5x
Q4 23	6.1x	36.1x
Q1 24	6.7x	41.5x
Q2 24	8.9x	48.6x
Q3 24	7.9x	42.4x
Q4 24	7.3x	38.0x
Q1 25	4.5x	22.9x
Q2 25	5.0x	30.4x
Q3 25	7.5x	48.1x
Q4 25	9.8x	56.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$7M	-$37M
Q2 22	$115M	$70M
Q3 22	$272M	$233M
Q4 22	$183M	$149M
Q1 23	$19M	-$22M
Q2 23	$143M	$104M
Q3 23	$174M	$140M
Q4 23	$249M	$204M
Q1 24	$7M	-$37M
Q2 24	$216M	$171M
Q3 24	$166M	$114M
Q4 24	$283M	$225M
Q1 25	$162M	$98M
Q2 25	$182M	$132M
Q3 25	$49M	$2M
Q4 25	$282M	$219M

Capital Expenditures

Quarter	CapEx
Q1 22	$44M
Q2 22	$46M
Q3 22	$39M
Q4 22	$35M
Q1 23	$41M
Q2 23	$39M
Q3 23	$35M
Q4 23	$44M
Q1 24	$44M
Q2 24	$45M
Q3 24	$52M
Q4 24	$57M
Q1 25	$64M
Q2 25	$50M
Q3 25	$47M
Q4 25	$63M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-0.5%	+8.5%
Q2 22	+7.6%	+8.1%
Q3 22	-23.8%	-14.5%
Q4 22	-23.0%	-10.0%
Q1 23	-18.2%	-7.9%
Q2 23	-18.6%	-8.1%
Q3 23	-14.9%	-6.0%
Q4 23	-8.4%	-3.4%
Q1 24	-2.9%	-0.5%
Q2 24	+6.6%	-4.6%
Q3 24	+4.8%	+4.6%
Q4 24	+12.3%	+9.7%
Q1 25	+14.3%	+8.2%
Q2 25	-10.7%	+8.0%
Q3 25	+4.3%	+6.6%
Q4 25	+43.9%	+29.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$16M	1.5%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$108M	$140M
Q2 22	$112M	$140M
Q3 22	$112M	$136M
Q4 22	$109M	$143M
Q1 23	$106M	$151M
Q2 23	$106M	$146M
Q3 23	$104M	$138M
Q4 23	$102M	$142M
Q1 24	$103M	$149M
Q2 24	$112M	$154M
Q3 24	$117M	$158M
Q4 24	$128M	$156M
Q1 25	$118M	$157M
Q2 25	$118M	$158M
Q3 25	$125M	$169M
Q4 25	$143M	$163M

Revenue Segments

Quarter	Product	Service
Q1 22	$626M	$129M
Q2 22	$698M	$143M
Q3 22	$676M	$151M
Q4 22	$591M	$140M
Q1 23	$473M	$144M
Q2 23	$540M	$144M
Q3 23	$552M	$152M
Q4 23	$531M	$140M
Q1 24	$458M	$141M
Q2 24	$597M	$133M
Q3 24	$613M	$124M
Q4 24	$627M	$126M
Q1 25	$562M	$124M
Q2 25	$523M	$129M
Q3 25	$632M	$137M
Q4 25	$943M	$140M

Revenue by Geography

Quarter	Americas	Asia Pacific	Emea
Q1 22	$114M	$564M	$77M
Q2 22	$117M	$655M	$69M
Q3 22	$115M	$652M	$60M
Q1 23	$119M	$424M	$74M
Q2 23	$125M	$499M	$60M
Q3 23	$105M	$536M	$63M
Q1 24	$109M	$424M	$67M
Q2 24	$92M	$577M	$61M
Q3 24	$105M	$570M	$63M
Q1 25	$110M	$532M	$43M
Q2 25	$89M	$507M	$56M
Q3 25	$99M	$613M	$57M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$795M	$282M	$1.1B
Q2 22	$572M	$210M	$782M
Q3 22	$711M	$65M	$776M
Q4 22	$855M	$40M	$894M
Q1 23	$649M	$93M	$742M
Q2 23	$613M	$95M	$708M
Q3 23	$637M	$80M	$717M
Q4 23	$758M	$62M	$820M
Q1 24	$707M	$41M	$749M
Q2 24	$422M	$39M	$461M
Q3 24	$510M	$42M	$552M
Q4 24	$553M	$46M	$600M
Q1 25	$476M	$32M	$508M
Q2 25	$339M	$29M	$368M
Q3 25	$273M	$25M	$298M
Q4 25	$294M	$28M	$322M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	176M	-3.5%	-6.0%
Q2 22	171M	-2.5%	-8.8%
Q3 22	167M	-2.6%	-10.7%
Q4 22	165M	-0.8%	-9.1%
Q1 23	166M	+0.5%	-5.3%
Q2 23	165M	-0.9%	-3.7%
Q3 23	164M	-0.4%	-1.6%
Q4 23	162M	-1.2%	-2.0%
Q1 24	162M	+0.1%	-2.4%
Q2 24	163M	+0.7%	-0.8%
Q3 24	164M	+0.5%	+0.1%
Q4 24	163M	-0.7%	+0.7%
Q1 25	162M	-0.7%	-0.2%
Q2 25	161M	-0.6%	-1.5%
Q3 25	159M	-1.2%	-3.1%
Q4 25	158M	-0.9%	-3.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$128.0K	6K
Q2 22	$142.5K	6K
Q3 22	$140.2K	6K
Q4 22	$112.6K	7K
Q1 23	$95.0K	7K
Q2 23	$105.3K	7K
Q3 23	$108.3K	7K
Q4 23	$103.2K	7K
Q1 24	$92.3K	7K
Q2 24	$112.3K	7K
Q3 24	$113.4K	7K
Q4 24	$115.8K	7K
Q1 25	$105.5K	7K
Q2 25	$100.3K	7K
Q3 25	$118.3K	7K
Q4 25	$164.1K	7K

Revenue / Employee