Teradyne, Inc. (TER)

NASDAQ: TER · USD

$314

-9.39 (-2.9%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-21

Our latest published analysis: TER rated Sell

Teradyne, Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$192 / share

Potential value

$246 / share

Upside to FV

-44.3%

from $314

Moat

7.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$54.0B
Revenue (ttm)	5B
Net income (ttm)	1.4B
EPS (ttm)	$8.71
Shares out	156.3M
P/E (trailing)	36.1x
P/E (forward)	30.7x
Dividend	$0.52 (0.17%)
Volume	4,332,888
Beta	1.75

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 5B
Net income (ttm): 1.4B
EPS (ttm): $8.71
P/E (trailing): 36.1x
P/E (forward): 30.7x
Market cap: $54.0B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$3.70B	$3.16B	$2.68B	$2.82B	$3.19B	-3.7%
Gross profit	$2.21B	$1.87B	$1.54B	$1.65B	$1.86B	-4.2%
Operating income	$1.20B	$831.9M	$501.1M	$593.8M	$650.1M	-14.2%
Net income	$1.01B	$715.5M	$448.8M	$542.4M	$554.0M	-14.0%
EPS (diluted)	$5.53	$4.22	$2.73	$3.32	$3.47	-11.0%
EBITDA	$1.30B	$954.8M	$611.8M	$732.4M	$812.0M	-11.2%
R&D	$427.6M	$440.6M	$220.5M	$460.9M	$504.6M	+4.2%
SG&A	$547.6M	$558.1M	$577.3M	$617.0M	$648.9M	+4.3%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	Sat
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	Sat
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	Güçlü Al
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	Tut
ADI	Analog Devices, Inc.	207.6B	50.9x	14.8x	11.0%	+16.4%	+76.9%	Sat
AI	C3.ai, Inc.	2B	—	8.4x	-35.6%	+3.6%	-33.6%	Sat

Base and Bull scenarios

Bull20%

Price target

$245.85

-28.8% from spot

Accelerating adoption of co-packaged optics, aggressive hyperscaler deployment of custom ARM server silicon, and robotics margin inflection drive compound earnings growth exceeding modeled baseline levels.

Revenue growth exceeding 25% through FY2028 supported by CPO TAM expansion to $700M
Operating margin expanding significantly above historical peaks on favorable compute test product mix
Terminal P/E multiple expanding well above historical peer averages

Base60%

Price target

$192.45

-44.3% from spot

Test intensity remains elevated through FY2026 before stabilizing, supporting strong revenue expansion across FY2026 and FY2027. Operating margins expand in line with management guidance ranges and capital expenditures normalize relative to depreciation and revenue, supporting steady free cash flow expansion toward our Fair value target of $192.45.

Revenue growth of 61.2% in FY2026 ($5,142M) and 21.8% in FY2027 ($6,264M)
Non-GAAP operating margin expanding to 28.5% in FY2026 and normalizing at 29.5%
Terminal P/E multiple anchored at 22.0x aligned with peer averages

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($192.45). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.5%	2.8%	3.0%	3.3%	3.5%
10.7%	$201	$203	$205	$207	$209
11.2%	$195	$197	$198	$200	$202
11.7%	$190	$191	$192	$194	$196
12.2%	$185	$186	$187	$188	$190
12.7%	$180	$181	$182	$183	$185

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E30.7

P25 n/aP50 n/aP75 n/a

Trailing P/E46.2

P25 n/aP50 n/aP75 n/a

ROE42.7

P25 n/aP50 n/aP75 n/a

ROIC42.7

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All TER indicators

Market & fundamental data

Available fields

296

Groups with data

Currency

USD

Showing 296 of 296 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000097210
Company name	Teradyne, Inc.
Country	United States
Country code	US
CUSIP number	880770102
Earnings date	2026-10-27
Earnings time	amc
Employees	6,600
Employees change	100
Employees growth	1.54%
Enterprise value	$48.7B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-09-27
First seen	2026-05-09
Fiscal year end	December
Founded	1960
In index	SP500, NASDAQ100
Industry	Semiconductor Equipment & Materials
Is primary listing	Yes
Is SPAC	No
ISIN number	US8807701029
Last 10-K release date	2026-02-19
Last earnings date	2026-10-27
Last refreshed	2026-10-28
Last stock split date	1999-09-01
Last stock split type	Forward
Market cap	$49.1B
Market cap category	Large-Cap
Next earnings date	2027-02-01
Options	Yes
Price	$314.30
Price currency	USD
Sector	Technology
SIC code	3825
Stock price date	2026-10-28
Symbol	TER
Tags	artificial-intelligence, robotics
U.S. state	Massachusetts
Website	https://www.teradyne.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	34.46x
Average P/E ratio (10Y)	29.35x
Average P/E ratio (3Y)	43.4x
Average P/E ratio (5Y)	35.25x
Earnings yield	2.77%
EV/Earnings	35.12x
EV/EBIT	29.41x
EV/EBITDA	27.11x
EV/FCF	47.06x
EV/Sales	9.64x
FCF / EV yield	2.13%
FCF yield	2.1%
Forward EV/Sales	8.21x
Forward P/E	30.31x
Forward P/S	8.29x
Graham number	68.02033
Graham upside	-78.17%
Industry forward P/E	24.35x
Industry P/E	38.38x
Lynch fair value	$59.49
Lynch upside	-80.91%
P/(FCF - SBC) ratio	51.56x
P/(OCF - SBC) ratio	38.99x
P/B ratio	13.71x
P/E ratio	36.07x
P/FCF ratio	47.53x
P/OCF ratio	36.64x
P/S ratio	9.74x
PEG ratio	0.87x
Price / tangible book value	16.64x
Price/EBITDA ratio	27.39x
Sector forward P/E	18.86x
Sector P/E	32.77x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	32.79%
EBITDA margin	35.57%
Effective tax rate	13.65%
FCF margin	20.49%
Gross margin	59.32%
Operating margin	32.79%
Pretax margin	31.93%
Profit margin	27.46%
Profit per employee	$208,041
Profitable quarters	34
Profitable years	9
Revenue per employee	$757,693
ROA	21.78%
ROA (5Y)	13.04%
ROCE	39.92%
ROE	42.72%
ROE (5Y)	25.83%
ROIC	42.74%
ROIC (5Y)	40.7%
SBC / revenue	1.6%
Tax / revenue	4.36%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	216.41%
EPS growth (Q)	189.33%
EPS growth (QoQ)	-8.82%
EPS growth 3Y	41.73%
EPS growth 5Y	10.42%
EPS growth quarters	3
EPS growth years	2
FCF growth	124.34%
FCF growth (Q)	9,539.1%
FCF growth (QoQ)	-39.94%
FCF growth 3Y	40.44%
FCF growth 5Y	2.95%
Gross profit growth	76.06%
Gross profit growth (Q)	71.66%
Gross profit growth 3Y	23.43%
Gross profit growth 5Y	6.86%
Net income growth	209.89%
Net income growth (Q)	186.39%
Net income growth (QoQ)	-8.58%
Net income growth 3Y	39.66%
Net income growth 5Y	6.83%
Net income growth quarters	3
Net income growth years	2
OCF growth	96.87%
OCF growth (Q)	539.38%
OCF growth (QoQ)	-33.15%
OCF growth 10Y	11.24%
OCF growth 3Y	36.75%
OCF growth 5Y	5.29%
Operating income growth	218.07%
Operating income growth (Q)	176.62%
Operating income growth 3Y	39.71%
Operating income growth 5Y	7.36%
Revenue growth	74.88%
Revenue growth (Q)	69.78%
Revenue growth (QoQ)	-1.73%
Revenue growth 10Y	11.45%
Revenue growth 3Y	22.24%
Revenue growth 5Y	6.93%
Revenue growth quarters	4
Revenue growth years	2

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-304.7M
Depreciation and amortization	$139M
EBIT	$1.6B
EBITDA	$1.8B
EPS	$8.71
FCF per share	$6.56
Financing cash flow	$-646.5M
Free cash flow	$1B
Free cash flow minus SBC	$944.8M
Gross profit	$3B
Income taxes	$217.9M
Investing cash flow	$-496.7M
Net borrowing	$-200M
Net cash flow	$188M
Net income	$1.4B
Operating cash flow minus SBC	$1.2B
Operating income	$1.6B
Revenue	$5B
Stock-based compensation	$80.1M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$23.60
Debt / EBITDA	0.08
Debt / equity	0.04
Debt / FCF	0.13
Goodwill	$663.8M
Interest coverage	239.55
Long-term assets	$2.7B
Long-term liabilities	$370.8M
Net cash (debt)	$487.8M
Net cash / market cap	1%
Net cash growth	207.49%
Net debt / EBITDA	-0.27
Net debt / equity	-0.13
Net debt / FCF	-0.48
Piotroski F-Score	6
Property, plant and equipment	$801.3M
Shareholders' equity	$3.7B
Tangible book value	$2.9B
Tangible book value per share	$18.73
Total assets	$5.4B
Total cash	$466.6M
Total debt	$137.1M
Total liabilities	$1.7B
WACC	13.83%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	1.06
Current assets	$2.8B
Current liabilities	$1.3B
Current ratio	2.08
Inventory turnover	4.32
Net working capital	$999.3M
Quick ratio	1.18
Working capital	$1.4B
Working capital turnover	4.54

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	2.16%
Dividend growth	6.25%
Dividend growth (10Y)	7.83%
Dividend growth (3Y)	5.04%
Dividend growth (5Y)	4.98%
Dividend growth years	0
Dividend payment date	2026-09-25
Dividend payment years	13
Dividend payout frequency	Quarterly
Dividend per share	$0.52
Dividend yield	0.17%
Ex-dividend date	2026-09-04
FCF payout ratio	7.93%
Last dividend	$0.13
Payout ratio	5.97%
Shareholder yield	2.33%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	1,273.8%
10Y return CAGR	30.66%
10Y total return	1,349.11%
150-day SMA	$369.91
15Y price change	2,050.21%
15Y return CAGR	23.39%
15Y total return	2,238.71%
1D price change	-2.9%
1M price change	-21.31%
1M total return	-21.31%
1W price change	-6.86%
1W total return	-6.86%
1Y price change	112.54%
1Y return CAGR	113.06%
1Y total return	112.95%
20-day SMA	$366.30
200-day SMA	$348.97
20Y price change	2,153.77%
20Y return CAGR	17.35%
20Y total return	2,351.36%
3M price change	-6.35%
3M total return	-6.32%
3Y price change	273.93%
3Y return CAGR	55.76%
3Y total return	277.99%
50-day SMA	$368.05
50-day SMA vs 200-day SMA	50over200
52-week high	$487.91
52-week high date	2026-06-30
52-week low	$144.11
52-week low date	2025-10-28
5Y price change	154.73%
5Y return CAGR	21.03%
5Y total return	159.64%
6M price change	-22.01%
6M total return	-21.96%
After-hours change	-0.64%
After-hours close	$314.30
After-hours price	$312.30
All-time high	$487.91
All-time high date	2026-06-30
All-time low	$0.31
All-time low date	1974-12-23
Average true range (ATR)	$21.37
Average volume	3M
Beta (1Y)	1.85
Beta (2Y)	1.55
Beta (5Y)	1.75
Change from 52-week high	-35.58%
Change from 52-week low	118.1%
Change from all-time high	-35.75%
Change from all-time low	100,220%
Change from open	3.73%
Day's gap	-6.39%
Dollar volume	$1.4B
High price	$316.79
Low price	$295.00
Monthly RSI	56.79
Open price	$302.99
Position in 52-week range	88.57%
Premarket change	-6.54%
Premarket close	$323.68
Premarket price	$302.50
Premarket volume	282.9K
Previous close	$323.68
Price vs 150-day SMA	-15.25%
Price vs 20-day SMA	-14.41%
Price vs 200-day SMA	-10.16%
Price vs 50-day SMA	-14.82%
Relative volume	1.43
RSI	36.48
Sharpe ratio	1.31
Sharpe ratio (3Y)	0.93
Sharpe ratio (5Y)	0.57
Sortino ratio	2.04
Sortino ratio (3Y)	1.47
Sortino ratio (5Y)	0.94
Volume	4.3M
Weekly RSI	45.09
YTD price change	61.97%
YTD total return	62.16%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	156M
Float percentage	99.8%
Shares change (QoQ)	-0.12%
Shares change (YoY)	-2.16%
Shares held by insiders	0.09%
Shares held by institutions	99.49%
Shares outstanding	156.3M
Short % of float	5.53%
Short % of shares	5.52%
Short ratio	3.5 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	828

Deeper analysis on TER

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this TER report

What is the latest published TER stock rating?

Teradyne, Inc. is shown with Sell in the latest published report, analyzed 2026-10-21. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full TER analysis?

The full latest published report, analyzed 2026-10-21, lives at /stocks/TER/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for TER?

The latest published report analyzed 2026-10-21 gives TER a fair value of USD 192 and a potential value of USD 246. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the TER page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-21). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellTER · Fair value $192-44.3%

Read full analysis →

Category	Score	Reading
Valuation	1.5
Management	6.5
Balance Sheet	8.5
Profitability	8.5
Revenue Growth	9.0
Risk Assessment	7.0
Competitive Moat	7.5
Earnings Quality	9.0
Capital Efficiency	8.5

Teradyne, Inc. (TER)

Our latest published analysis: TER rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · TER

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All TER indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on TER

Frequently asked questions

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