Teradyne Inc
TER—
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Teradyne Inc AI Insights
Informational only. Not investment advice.Snapshot
- Operating margin 18.8% TTM vs industry median 2.4% - 8x advantage despite -14% EPS decline YoY signals durable cost structure[Operating Margin TTM]
- Debt/equity 0.025 with 69M total debt vs 2.7B equity - near fortress balance sheet enables cyclical flexibility[Debt to Equity]
- P/E 66.5x vs industry median 32.4x - trading at 2x sector multiple while revenue contracts 1.3% over 5Y[PE Ratio]
Watch Triggers
- Total Revenue TTM: Quarterly revenue growth turns positive YoY — Would validate cycle recovery thesis and justify premium multiple
- Gross Margin TTM: Falls below 55% — Signals pricing pressure or product mix deterioration
- Free Cash Flow TTM: Drops below 350M — Threatens dividend sustainability and capital return program
Bull Case
ROIC 15.4% TTM vs industry median -0.3% with minimal debt demonstrates capital efficiency that compounds through cycles
ROIC TTMDebt to EquityROE TTM
FCF margin 16% (457M TTM) with capex only 7.6% of revenue enables buybacks and dividends without leverage
Free Cash Flow TTMCapital Expenditure TTMCash Flow TTM
Bear Case
Revenue -1.3% 5Y CAGR and EPS -6.2% 5Y CAGR show secular decline masked by current premium valuation
Total Revenue 5yr GrowthEPS Growth 5yrEPS Growth 1yr
P/E 66.5x and P/S 10.8x both >2x industry medians - priced for growth that hasn't materialized
PE RatioPS RatioPB Ratio
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
40%
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Forward Thesis
Semiconductor test equipment demand to recover as AI chip complexity drives test intensity
1-3ymed
- R&D spend 489M TTM (17% of revenue) positions for next-gen chip testing
- FCF 457M TTM funds capacity expansion without debt
- Asset turnover 0.74x above median 0.58x shows operational leverage
Gross margin 59% TTM vs 42% industry medianROIC 15.4% TTM vs -0.3% medianWorking capital 755M provides cycle buffer
Valuation Context
Caveats
Public Strategies Rankings
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TER Fundamentals
Manufacturing → Computer and Electronic Product Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$50.52B | — | ||
$50.51B | — | ||
92 | — | ||
$3.19B | +13.1% | — | |
$3.47 | +19.1% | — | |
21.6% | +2.0% | — | |
17.4% | -1.9% | — | |
$450.41M | -5.0% | — | |
19.7% | -0.6% | — | |
Beta 5Y (Monthly) | unknown | — |
TER Dividend History
48 dividends
2026
$0.130002/13/26$0.1300
2025
$0.480011/24/25$0.1200
09/05/25$0.1200
05/22/25$0.1200
02/14/25$0.1200
2024
$0.480011/25/24$0.1200
09/05/24$0.1200
05/21/24$0.1200
02/15/24$0.1200
2023
$0.440011/24/23$0.1100
08/31/23$0.1100
05/23/23$0.1100
02/16/23$0.1100
2022
$0.440011/25/22$0.1100
08/30/22$0.1100
05/24/22$0.1100
02/17/22$0.1100
2021
$0.400011/23/21$0.1000
08/31/21$0.1000
05/25/21$0.1000
02/18/21$0.1000
2020
$0.400011/24/20$0.1000
09/02/20$0.1000
05/26/20$0.1000
02/20/20$0.1000
2019
$0.360011/26/19$0.0900
09/03/19$0.0900
05/28/19$0.0900
02/21/19$0.0900
2018
$0.360011/27/18$0.0900
09/04/18$0.0900
05/30/18$0.0900
02/22/18$0.0900
2017
$0.280011/28/17$0.0700
09/06/17$0.0700
05/30/17$0.0700
02/22/17$0.0700
2016
$0.240011/28/16$0.0600
09/02/16$0.0600
05/27/16$0.0600
02/24/16$0.0600
2015
$0.240011/30/15$0.0600
09/02/15$0.0600
05/29/15$0.0600
02/25/15$0.0600
2014
$0.180012/01/14$0.0600
09/03/14$0.0600
05/07/14$0.0600
TER Stock Splits
No stock splits
TER SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/19/26 | 12/31/25 | 10-K | |
10/30/25 | 09/28/25 | 10-Q | |
08/01/25 | 06/29/25 | 10-Q | |
05/02/25 | 03/30/25 | 10-Q | |
02/20/25 | 12/31/24 | Unknown | |
11/01/24 | 09/29/24 | 10-Q | |
08/02/24 | 06/30/24 | 10-Q | |
05/03/24 | 03/31/24 | 10-Q | |
02/22/24 | 12/31/23 | 10-K | |
11/03/23 | 10/01/23 | 10-Q | |
08/04/23 | 07/02/23 | 10-Q | |
05/05/23 | 04/02/23 | 10-Q | |
02/22/23 | 12/31/22 | 10-K | |
11/04/22 | 10/02/22 | 10-Q | |
08/05/22 | 07/03/22 | 10-Q | |
05/06/22 | 04/03/22 | 10-Q | |
02/23/22 | 12/31/21 | 10-K | |
11/05/21 | 10/03/21 | 10-Q | |
08/06/21 | 07/04/21 | 10-Q | |
05/07/21 | 04/04/21 | 10-Q | |
02/22/21 | 12/31/20 | 10-K | |
11/02/20 | 09/27/20 | 10-Q | |
08/03/20 | 06/28/20 | 10-Q | |
05/04/20 | 03/29/20 | 10-Q | |
03/02/20 | 12/31/19 | 10-K | |
11/08/19 | 09/29/19 | 10-Q | |
08/09/19 | 06/30/19 | 10-Q | |
05/10/19 | 03/31/19 | 10-Q | |
03/01/19 | 12/31/18 | 10-K | |
11/09/18 | 09/30/18 | 10-Q | |
08/10/18 | 07/01/18 | 10-Q | |
05/11/18 | 04/01/18 | 10-Q | |
03/01/18 | 12/31/17 | 10-K | |
11/09/17 | 10/01/17 | 10-Q | |
08/11/17 | 07/02/17 | 10-Q | |
05/12/17 | 04/02/17 | 10-Q | |
03/01/17 | 12/31/16 | 10-K | |
11/10/16 | 10/02/16 | 10-Q | |
08/12/16 | 07/03/16 | 10-Q | |
05/13/16 | 04/03/16 | 10-Q | |
02/29/16 | 12/31/15 | 10-K | |
11/13/15 | 10/04/15 | 10-Q | |
08/14/15 | 07/05/15 | 10-Q | |
05/08/15 | 04/05/15 | 10-Q | |
02/27/15 | 12/31/14 | 10-K | |
11/07/14 | 09/28/14 | 10-Q | |
08/08/14 | 06/29/14 | 10-Q | |
05/07/14 | 03/30/14 | 10-Q | |
02/28/14 | 12/31/13 | 10-K | |
11/08/13 | 09/29/13 | 10-Q | |
08/09/13 | 06/30/13 | 10-Q | |
05/10/13 | 03/31/13 | 10-Q | |
03/01/13 | 12/31/12 | 10-K | |
11/09/12 | 09/30/12 | 10-Q | |
08/10/12 | 07/01/12 | 10-Q | |
05/11/12 | 04/01/12 | 10-Q | |
02/29/12 | 12/31/11 | 10-K | |
11/14/11 | 10/02/11 | 10-Q | |
08/12/11 | 07/03/11 | 10-Q | |
05/13/11 | 04/03/11 | 10-Q | |
03/01/11 | 12/31/10 | 10-K | |
11/10/10 | 10/03/10 | 10-Q | |
08/12/10 | 07/04/10 | 10-Q | |
05/14/10 | 04/04/10 | 10-Q | |
03/01/10 | 12/31/09 | 10-K | |
11/12/09 | 10/04/09 | 10-Q | |
08/13/09 | 07/05/09 | 10-Q | |
05/15/09 | 04/05/09 | 10-Q | |
03/02/09 | 12/31/08 | 10-K | |
11/07/08 | 09/30/08 | Unknown | -- |
08/07/08 | 06/30/08 | Unknown | -- |
05/08/08 | 03/31/08 | 10-Q | |
02/28/08 | 12/31/07 | 10-K | |
11/09/07 | 09/30/07 | 10-Q | |
08/10/07 | 06/30/07 | Unknown | -- |
05/11/07 | 03/30/07 | Unknown | -- |
03/01/07 | 12/31/06 | 10-K | |
11/13/06 | 09/30/06 | Unknown | -- |
08/10/06 | 06/30/06 | Unknown | -- |
05/10/06 | 03/30/06 | Unknown | -- |
03/14/06 | 12/31/05 | 10-K | |
11/14/05 | 09/30/05 | Unknown | -- |
08/12/05 | 06/30/05 | 4 | |
05/13/05 | 03/30/05 | Unknown | -- |
03/16/05 | 12/31/04 | 10-K | |
11/12/04 | 09/30/04 | Unknown | -- |
08/13/04 | 06/30/04 | Unknown | -- |
05/14/04 | 03/30/04 | Unknown | -- |
03/15/04 | 12/31/03 | 10-K | |
11/12/03 | 09/30/03 | Unknown | -- |
08/13/03 | 06/30/03 | Unknown | -- |
05/14/03 | 03/31/03 | 10-Q | |
03/28/03 | 12/31/02 | 10-K | |
11/13/02 | 09/30/02 | Unknown | -- |
08/13/02 | 06/30/02 | 10-Q | |
05/14/02 | 03/30/02 | Unknown | -- |
03/29/02 | 12/31/01 | 10-K405 | |
11/09/01 | 09/30/01 | 10-Q | |
08/06/01 | 06/30/01 | Unknown | -- |
05/15/01 | 03/30/01 | Unknown | -- |
03/27/01 | 12/31/00 | 10-K | |
11/15/00 | 09/30/00 | Unknown | -- |
08/16/00 | 06/30/00 | Unknown | -- |
05/17/00 | 03/30/00 | Unknown | -- |