TERADYNE, INCTER

TERADYNE, INC Financial Overview 2021–2025

Updated Jul 10, 2026

Teradyne’s Semiconductor Test revenues skyrocketed 104.8% to $1.11 billion 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 million 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 billion 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.

Rev

$3.19B

+13.1% YoY

FY2025

NI

$554.0M

+2.2% YoY

FY2025

EPS

$3.48

+2.1% YoY

FY2025

OCF

$674.4M

+0.3% YoY

FY2025

Revenue Trend
Beta

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

View full history →

Data from SEC Company Facts

All TER Financial Metrics(60)

Recent SEC Filings

TERADYNE, 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.

TERADYNE, INC 8-K Report, Financial Results (Jul 29, 2026)

Teradyne, Inc. (TER) filed an 8-K on July 29, 2026, to report its second-quarter financial results for the period ended June 28, 2026. The primary purpose of this filing is to furnish the accompanying press release, which contains the detailed financial performance and operational updates for the quarter. Investors should refer to the furnished press release (Exhibit 99.1) for comprehensive information regarding revenue, profitability, segment performance, and forward-looking guidance. While the 8-K itself is a procedural filing, the press release it references is the crucial document for understanding Teradyne's recent financial health and strategic outlook. Key metrics and management commentary within that release will be essential for evaluating the company's performance against market expectations and assessing its future prospects in the semiconductor test and industrial automation sectors.

TERADYNE, 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.

TERADYNE, INC 8-K Report, Financial Results (Apr 29, 2026)

Teradyne, Inc. (TER) filed an 8-K on April 29, 2026, to report its financial results for the first quarter ended March 29, 2026. The key details of these results are presented in a press release furnished as Exhibit 99.1 to the filing. Investors should refer to this press release for specific financial performance metrics, including revenue, profitability, and segment-specific performance for the first quarter of 2026. While this 8-K itself does not provide the numerical results, it serves as the official notification that Teradyne has disclosed its quarterly performance. The accompanying press release is expected to contain crucial information regarding the company's operational and financial condition, offering insights into the company's business trends, outlook, and any significant factors impacting its performance during the reporting period. Investors are strongly encouraged to review the referenced press release for a comprehensive understanding of Teradyne's first-quarter 2026 results.

TERADYNE, INC 8-K Report, Financial Results (Feb 3, 2026)

Teradyne, Inc. (TER) has filed an 8-K on February 3, 2026, to report its financial results for the fourth quarter ended December 31, 2025. The key details of these results are provided in a press release furnished as Exhibit 99.1 to the filing. Investors should review this press release for specific financial performance metrics, including revenue, profitability, and any forward-looking guidance provided by the company. While the 8-K itself is brief, primarily serving as a cover for the press release, the attached exhibit contains the crucial information regarding Teradyne's recent performance. Investors seeking to understand the company's financial health and future outlook should prioritize examining the detailed figures and management commentary within the press release. This will offer insights into the drivers of the company's results and any potential challenges or opportunities ahead.

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