Skip to content
AnalystLens

TERADYNE, INCTER

Sector
Energy
Industry
Instruments For Meas & Testing of Electricity & Elec Signals
Exchange
Nasdaq

Stock Price $TER

Latest filings

You are here#50 of 67 in Technology by market cap

Filing record · 2016–202610-K1110-Q328-K91

TER filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 91 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Dec ’16Dec ’16
  2. FY2018 annual report10-K · Mar ’19Mar ’19
  3. Leadership change8-K · Sep ’21Sep ’21
  4. Leadership change8-K · Oct ’25Oct ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $3.19B
YoY changeLargest recent move+36.0%in FY20Latest +13.1%

1 older move runs past ±50% (largest +101.5%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All TER Financial Metrics60 metrics

Income Statement17

Balance Sheet24

Cash Flow14

Per Share5

02—Overview

TERADYNE, INC Financial Overview 2021–2025

Updated Jul 10, 2026

Teradyne’s Semiconductor Test revenues skyrocketed 104.8% to $1.11 billiona in Q1 2026, signaling a structural break from prior cyclical downturns. This surge establishes a clear thesis: the company has successfully transitioned from a legacy mobility and compute tester into a direct beneficiary of the artificial intelligence hardware boom. By focusing on High Bandwidth Memory and data center applications, Teradyne decoupled its core engine from broader macroeconomic slowdowns to become a critical tollbooth in the advanced silicon supply chain.

Despite grappling with severe industry inventory corrections during this transition, total annual capital returned to shareholders grew from $600 million in FY2021 to $778.4 millionb in FY2025. The company weathered a 15.2% revenue contraction in FY2023 to emerge with a 60.9% gross margin by Q1 2026. Strategic capital allocation accelerated this shift, highlighted by a $524.1 million investment for a 10% stake in Technoprobe and the $127.2 million acquisition of Quantifi Photonics. Even as the Robotics segment faced a 21.3% revenue decline in Q1 2025 due to industrial weakness, overall corporate net income more than quadrupled to $398.9 million in Q1 2026. Investors rewarded this turnaround, with shares trading at $193.56 at the close of FY2025—a marked premium over the preceding downcycle that saw earnings compress to an EPS of $3.32 in FY2024.

Recent Developments (Q4 2025 and Q1 2026)

Total top-line revenues surged 87% year-over-year to $1.28 billionc in Q1 2026, driven by exceptional demand across AI and defense markets. Operating efficiency flowed through to the bottom line, with diluted earnings per share reaching $2.53—up significantly from $0.61 in Q1 2025—while cash from operations jumped 64.1% to $265.1 million. Teradyne aggressively expanded its technical capabilities during this period, acquiring TestInsight Ltd. and Infineon’s AET technology for $18.3 million. Management also launched the MultiLane Test Products joint venture to directly target the growing AI data center equipment market, further diversifying its revenue channels.

Bulls argue these targeted acquisitions and strategic joint ventures perfectly position the company to capture long-term secular AI tailwinds. Conversely, bears caution that trading at a steep 104.0x earnings as of May 1, 2026 bakes in flawless execution, leaving the stock vulnerable to any sequential demand normalization.

What to watch: contribution run-rates from the new MultiLane Test Products joint venture; sequential revenue recovery momentum in the Robotics segment.

03—Filings

Recent SEC Filings

  1. 8-KTERADYNE, INC 8-K Report, Material Agreement (Aug 10, 2026)Teradyne, Inc. (TER) has announced the entry into a new five-year, $1.0 billion senior secured revolving credit facility with PNC Bank, National Association, and other financial institutions. This facility is intended to support working capital and general corporate purposes, providing the company with significant financial flexibility. As of the filing date, no funds have been drawn under the facility. The terms of the credit facility include variable interest rates and commitment fees based on Teradyne's consolidated leverage ratio and, importantly, its credit rating. The credit agreement introduces a unique feature: an "Investment Grade Suspension Period." Should Teradyne achieve an investment grade rating from major credit agencies (S&P, Moody's, Fitch), certain collateral and guarantees will be released, and a suite of restrictive covenants, including those related to interest coverage, indebtedness, asset sales, and restricted payments, will be suspended. This provides Teradyne with enhanced operational and financial freedom during periods of strong creditworthiness, with the ability to reinstate these provisions if credit ratings decline. The facility also includes customary covenants, such as a maximum consolidated leverage ratio and a minimum interest coverage ratio, with temporary adjustments allowed following significant acquisitions.
  2. 8-KTERADYNE, INC 8-K Report, Financial Results (Jul 29, 2026)Teradyne (NASDAQ: TER) reported second quarter 2026 results that beat the high end of its guidance, marking a second consecutive record quarter for revenue. Net revenues were $1,329.0 million, up 104% from $651.8 million a year earlier and up 3.6% sequentially from $1,282.5 million in Q1 2026. GAAP net income attributable to Teradyne was $374.5 million, or $2.38 per diluted share, versus $0.49 in Q2 2025. Non-GAAP EPS was $2.47, compared with $0.57 a year ago and $2.56 in Q1 2026. Management attributed the strength to AI-related demand, record Memory revenue driven by DRAM and a resurgence in NAND final test, and growth across all three business groups (Semiconductor Test, Product Test, and Robotics). GAAP gross margin was 59.8%, compared with 60.9% in Q1 2026 and 57.2% a year earlier. GAAP operating margin fell to 32.9% from 36.9% in Q1, mainly because selling and administrative and engineering and development expenses rose sharply. Selling and administrative expense increased to $192.5 million from $166.7 million, and engineering and development rose to $156.3 million from $135.6 million. Cash flow was strong, with operating cash flow of $469.1 million in the quarter and $734.3 million year to date. Accounts receivable rose to $1.11 billion from $787 million at year-end 2025, a build that warrants watching alongside collections. Cash and equivalents ended at $349.5 million, and short-term debt was fully repaid. Total debt was zero at quarter end, with a $200 million short-term obligation at year-end 2025 retired. Management guided Q3 2026 revenue to $1.20 billion to $1.30 billion, GAAP EPS of $1.79 to $2.09, and non-GAAP EPS of $1.85 to $2.15. Management also pointed to a rapid increase in wafer fab equipment investment as a driver of growth in 2027 and beyond.
  3. 8-KTERADYNE, INC 8-K Report, Shareholder Vote Results (May 11, 2026)Teradyne, Inc. (TER) filed an 8-K on May 11, 2026, detailing the outcomes of its 2026 annual meeting of shareholders held on May 8, 2026. The primary focus of the filing is the voting results on key corporate matters. All nominated directors were overwhelmingly re-elected, indicating strong shareholder confidence in the current board's leadership and strategy. Additionally, shareholders provided advisory approval for the company's 2025 executive compensation plan and ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026. These voting outcomes suggest stability and shareholder alignment on corporate governance and oversight. The overwhelming support for director re-elections and auditor ratification signals a positive sentiment from the investor base regarding the company's current direction and financial reporting integrity. The advisory approval of executive compensation, while non-binding, also reflects a generally favorable view of how the company is rewarding its leadership.
  4. 8-KTERADYNE, INC 8-K Report, Financial Results (Apr 29, 2026)Teradyne (NASDAQ: TER) reported record first-quarter 2026 results for the period ended March 29, 2026, with revenue of $1,282.5 million, up 87% from $685.7 million a year earlier and up 18% sequentially from $1,083.3 million in Q4 2025. GAAP net income was $398.9 million, or $2.53 per diluted share, compared with $0.61 in Q1 2025, and non-GAAP EPS was $2.56. Management attributed the results to AI-related demand, which it says represents approximately 70% of revenue, with Semiconductor Test contributing $1,111 million, Robotics $91 million, and Product Test $80 million. GAAP operating margin expanded to 36.9% from 27.1% in Q4 and 17.6% a year ago, and non-GAAP operating margin was 37.5%. For Q2 2026, Teradyne guided revenue to $1,150 million to $1,250 million, GAAP EPS to $1.83 to $2.12, and non-GAAP EPS to $1.86 to $2.15. The guidance midpoint implies a sequential revenue decline from Q1's record level, so investors will want to understand whether the Q1 strength was lumpy or reflects a durable step-up in AI-driven demand. Balance sheet items warrant attention as well: accounts receivable rose to $1,107.5 million from $786.9 million, operating cash flow was $265.1 million, and the company repaid a net $200 million on its revolving credit facility, reducing short-term debt to zero. Free cash flow after $64.7 million in capital expenditures was roughly $200 million. The filing is an 8-K under Item 2.02 that furnishes the earnings press release as Exhibit 99.1. The release does not contain new forward-looking commitments beyond the Q2 guidance, and it references the Form 10-K for the fiscal year ended December 31, 2025 for a full discussion of risk factors, including export controls, tariffs, and customer concentration.
  5. 8-KTERADYNE, INC 8-K Report, Financial Results (Feb 3, 2026)Teradyne (NASDAQ: TER) reported fourth-quarter 2025 revenue of $1.083 billion, up 44% year over year and 41% sequentially, with results above the high end of its guidance range. Growth was driven by strong AI-related demand in compute and memory within the Semiconductor Test business, and all three business groups (Semi Test, Product Test, and Robotics) grew sequentially. GAAP diluted EPS was $1.63 and non-GAAP diluted EPS was $1.80, compared with $0.90 and $0.95 a year earlier. For full year 2025, revenue reached $3.19 billion, up 13%, with GAAP net income of $554.0 million ($3.47 diluted EPS) and non-GAAP EPS of $3.96. Management guided first-quarter 2026 revenue to $1.150–$1.250 billion, with non-GAAP diluted EPS of $1.89–$2.25, and said it expects year-over-year growth across all businesses in 2026, led by AI-driven compute demand. Cash generation and capital returns were substantial: operating cash flow was $674 million for 2025, and the company repurchased $702 million of stock, though cash and marketable securities declined and short-term debt of $200 million appeared on the balance sheet. Investors should weigh the strong top-line momentum against elevated receivables (up roughly 64% year over year to $774 million), the Robotics restructuring (about 400 employees affected in 2025), and the dependence on AI-related semiconductor demand.
View all 8-K filings →
View all filings (10-K, 10-Q, 8-K, proxy & more) →

04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.