TERNasdaqInstruments For Meas & Testing of Electricity & Elec SignalsFiscal year ends December 31
TERADYNE, INC
Financials through Q2 FY2026, quarter ended Jun 28, 2026Last filing: 10-Q on Jul 31, 2026
$335.53+10.53 (+3.24%)
Close on Oct 19, 2026
- Market cap
- $52.91B
- P/E (TTM)
- 46.0
- Dividend yield
- 0.14%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
58.2%+1.0 pts over 5 years
Operating margin
20.4%−9.4 pts over 5 years
Net margin
17.4%−7.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +13.1% | +0.4% | +0.4% | +6.9% | |
| Gross profit | +12.6% | -0.2% | +0.8% | +7.3% | |
| Operating income | +9.5% | -7.9% | -6.9% | +10.3% | |
| Net income | +2.2% | -8.2% | -6.7% | +10.4% | |
| EPS, diluted | +4.5% | -6.3% | -4.1% | +13.6% | |
| Free cash flow | -5.0% | +2.8% | -8.0% | +3.1% | |
| Dividend per share | 0.0% | +2.9% | +3.7% | +7.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -2.3% | 42.5% | 19.7% | |
| Return on assets | -1.6% | 24.4% | 14.0% | |
| Current ratio | 4.36 | 3.45 | 1.75 | |
| Interest coverage | -17.3× | 38.4× | 95.0× | |
| Inventory turnover | 5.5× | 6.4× | 3.9× | |
| Capex to revenue | 4.9% | 5.9% | 7.0% | |
| Diluted shares | 203M | 183M | 160M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Teradyne generated $3.61B from operations and spent $3.88B on capital expenditure, dividends and share buybacks. 23% of that went back into the business.
Generated
$3.61B
Used
$3.88B
Capital expenditure$877.47M23%Dividends$356.30M9%Share buybacks$2.65B68%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin17.4%
×Asset turnover0.81×
×Equity multiplier1.41×
=Return on equity, FY202519.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 17.4% | 0.81× | 1.41× | 19.7% |
| FY2024 | 19.2% | 0.78× | 1.35× | 20.3% |
| FY2023 | 16.8% | 0.77× | 1.40× | 18.0% |
| FY2022 | 22.7% | 0.86× | 1.46× | 28.5% |
| FY2021 | 27.4% | 0.99× | 1.56× | 42.5% |
| FY2020 | 25.1% | 0.97× | 1.75× | 42.5% |
| FY2019 | 20.4% | 0.84× | 1.83× | 31.1% |
| FY2018 | 21.5% | 0.72× | 1.67× | 26.0% |
| FY2017 | 12.1% | 0.73× | 1.55× | 13.6% |
| FY2016 | -2.5% | 0.66× | 1.40× | -2.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$554.05M
- Cash generatingOperating cash flow above zero$674.42M
- Return on assets improvedROA up on the prior year15.6% → 14.9%
- Earnings backed by cashOperating cash flow above net income$674.42M vs $554.05M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.91 → 1.75
- No dilutionShare count did not rise163M → 160M
- Gross margin improvedGross margin up on the prior year58.48% → 58.22%
- More efficientAsset turnover rose0.81 → 0.86