Overview
TERADYNE, INC
Latest 10-K: FY2025, filed Feb 19, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $3.19B
- 13.1%YoYup from FY2024
- TotalRevenue
- Gross profit
- $1.86B
- 12.6%YoYup from FY2024
- GrossProfit
- Operating income
- $0.65B
- 9.5%YoYup from FY2024
- OperatingIncome
- Net income
- $0.55B
- 2.2%YoYup from FY2024
- NetIncome
- Diluted EPS
- $3.47
- 4.5%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 159.7M
- 2.2%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- TERADYNE, INC reported revenue of $3.19B for fiscal 2025, up 13.1% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 3 of the last 5 fiscal years.
Profitability
- Operating margin was 20.4% and net margin was 17.4%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $3.47, up 4.5% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $3.19B13.1%up Benchmark median 6.4% | $2.82B5.4%up Benchmark median 4.5% | $2.68B15.2%down Benchmark median 4.8% | $3.16B14.8%down Benchmark median 10.3% | $3.70B18.6%up Benchmark median 13.8% | -3.7% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $1.86B12.6%up Benchmark median 6.8% | $1.65B7.3%up Benchmark median 5.5% | $1.54B17.7%down Benchmark median 5.2% | $1.87B15.4%down Benchmark median 8.3% | $2.21B23.6%up Benchmark median 15.7% | -4.2% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $0.65B9.5%up Benchmark median 7.3% | $0.59B18.5%up Benchmark median 7.4% | $0.50B39.8%down Benchmark median 4.9% | $0.83B30.7%down Benchmark median 7.5% | $1.20B29.3%up Benchmark median 23.5% | -14.2% Benchmark median 7.2% |
| Net Income | $0.55B2.2%up Benchmark median 4.8% | $0.54B20.9%up Benchmark median 5.7% | $0.45B37.3%down Benchmark median 1.9% | $0.72B29.5%down Benchmark median 1.3% | $1.01B29.4%up Benchmark median 33.9% | -14.0% Benchmark median 4.1% |
| EPS (Diluted) | $3.474.5%up Benchmark median 6.2% | $3.3221.6%up Benchmark median 7.9% | $2.7335.3%down Benchmark median 1.9% | $4.2223.7%down Benchmark median 1.5% | $5.5329.2%up Benchmark median 34.8% | -11.0% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $4.18B12.8%up Benchmark median 5.6% | $3.71B6.4%up Benchmark median 3.4% | $3.49B0.4%down Benchmark median 4.1% | $3.50B8.1%down Benchmark median 2.2% | $3.81B4.3%up Benchmark median 6.7% | 2.4% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $1.39B56.0%up Benchmark median 6.4% | $0.89B7.4%down Benchmark median 1.9% | $0.96B8.5%down Benchmark median 2.9% | $1.05B15.7%down Benchmark median 2.0% | $1.25B13.6%down Benchmark median 5.2% | 2.7% Benchmark median 4.4% |
| Stockholders' Equity | $2.80B0.8%down Benchmark median 6.8% | $2.82B11.6%up Benchmark median 5.4% | $2.53B3.0%up Benchmark median 7.3% | $2.45B4.3%down Benchmark median 2.5% | $2.56B16.1%up Benchmark median 9.0% | 2.2% Benchmark median 6.1% |
| Cash & Equivalents | $0.29B46.9%down Benchmark median 5.2% | $0.55B27.0%down Benchmark median 1.9% | $0.76B11.4%down Benchmark median 6.7% | $0.85B23.8%down Benchmark median -8.6% | $1.12B22.8%up Benchmark median -2.9% | -28.5% Benchmark median 2.0% |
| Total Debt | $200.00M† Benchmark median 2.1% | — | — | — | — | — Benchmark median 4.3% |
† Sum of short-term and long-term debt; the company files no total-debt line.
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $0.67B0.3%up Benchmark median 6.3% | $0.67B14.9%up Benchmark median 4.8% | $0.59B1.3%up Benchmark median 9.9% | $0.58B47.4%down Benchmark median -0.7% | $1.10B26.4%up Benchmark median 10.7% | -11.5% Benchmark median 7.0% |
| Capital Expenditures | $224.01M13.1%up Benchmark median 5.4% | $198.09M24.1%up Benchmark median 2.8% | $159.64M2.2%down Benchmark median 11.3% | $163.25M23.2%up Benchmark median 14.0% | $132.47M28.4%down Benchmark median 8.1% | 14.0% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $450.41M5.0%down Benchmark median 7.3% | $474.08M11.4%up Benchmark median 6.1% | $425.59M2.6%up Benchmark median 8.8% | $414.67M57.1%down Benchmark median -11.3% | $965.89M41.2%up Benchmark median 10.2% | -17.4% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
1.8%
Wall Street
on net earnings
FY2024 2.6%
1.5%
Value investor
on free cash flow
FY2024 2.3%
Gap −0.3 pts: Value-investor figure 0.3 points lower
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 55.8×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
2.5%
Wall Street
on EBITDA
FY2024 — Not reported
2.1%
Value investor
on EBIT
FY2024 — Not reported
Gap −0.4 pts: Value-investor figure 0.4 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 39.6×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
9.0%
Wall Street
on book equity
FY2024 13.7%
7.2%
Value investor
on tangible book
FY2024 11.7%
Gap −1.8 pts: Value-investor figure 1.8 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 11.1×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
19.7%
Wall Street
ROE: net income ÷ equity
FY2024 20.3%
19.2%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 21.1%
Gap −0.5 pts: Value-investor figure 0.5 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
24.4%
Wall Street
EBITDA margin
FY2024 25.3%
14.1%
Value investor
Free-cash-flow margin
FY2024 16.8%
Gap −10.3 pts: Value-investor figure 10.3 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
1.75×
Wall Street
Current ratio
FY2024 2.91×
1.41×
Value investor
Quick ratio, inventory excluded
FY2024 2.43×
Gap −0.34×: Value-investor figure 0.34 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
3.89×
Wall Street
EBITDA ÷ total debt
FY2024 — Not reported
2.25×
Value investor
FCF ÷ total debt
FY2024 — Not reported
Gap −1.64×: Value-investor figure 1.64 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net cashValue investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
113.6×
Wall Street
EBITDA ÷ interest
FY2024 198.9×
95.0×
Value investor
EBIT ÷ interest
FY2024 165.5×
Gap −18.6×: Value-investor figure 18.6 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on TER yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on TER and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/TER
Valuein. (2026, October 31). TERADYNE, INC (TER) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/TER
@misc{valuein_ter_2026,
author = {{Valuein}},
title = {TERADYNE, INC (TER) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/TER}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 19, 2026 · accession 0001193125-26-059002
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point-in-time · survivorship-free · every number traceable to its SEC filing
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