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TER · NasdaqGS

Teradyne, Inc.

Semiconductor Equipment & Materials · United States

USD 265.788.3% daily changeQuote 2026-11-11 · USD
Market cap (USD)
US$41.49B
Trailing P/E
30.55x
Forward P/E
22.08x
Quarterly revenue growth
69.8%
Trailing net margin
27.5%
Indicated dividend yield
0.2%

Snapshot 2026-11-11 · Latest financial period 2026-09-27 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.

Next earnings: 2027-01-27 (provider estimate; issuer confirmation unavailable here).

Company background

Teradyne, Inc. engages in the design, development, manufacture, and sale of automated test systems and robotics products in the United States, Asia Pacific, Europe, the Middle East, and Africa. The company operates through Semiconductor Test, Robotics, and Other segments. The Semiconductor Test segment offers products and services for wafer level and device package testing, and system level testing of semiconductor devices in automotive, industrial, communications, consumer, smartphones, cloud, computer and electronic game, and other applications. This segment also provides FLEX test platform systems; J750 test system to address the volume semiconductor devices, including microcontrollers; Magnum platform that tests memory devices, such as flash memory and DRAM; and ETS platform for semiconductor manufacturers, and assembly and test subcontractors in the analog/mixed signal markets. It serves integrated device manufacturers that integrate the fabrication of silicon wafers into their business; fabless companies that outsource the manufacturing of silicon wafers; foundries; and semiconductor assembly and test providers. The Robotics segment provides collaborative robotic arms and autonomous mobile robots for manufacturing, logistics, and industrial customers. It also provides product test instruments which includes operations related to the design, manufacturing and marketing of products and services for defense/aerospace test, circuit-board test, wireless test systems, and silicon photonics testing. The company has a strategic collaboration with Tokyo Electron Limited for the development of a test cell solution for device screening in AI and data center applications. Teradyne, Inc. was incorporated in 1960 and is headquartered in North Reading, Massachusetts.

Company website

Q3 2026

Go beyond the headline.

TER Stock: AI Demand Broadens — The $336M Cash Test | Q3 2026 Earnings

Published 2026-10-28

Q3 2026 REPORT HIGHLIGHTS

What’s changed for TER

Teradyne sales rose 70%, while inventory and prepayments absorbed $336M. Earnings ownership, cash conversion and three valuation routes.

  1. Demand has broadened.

    Memory, interconnect, storage and robotics support the AI story.

  2. Cash needs proof.

    Inventory and prepayments absorbed $336.3M in the quarter.

  3. Ownership matters.

    Consolidated profit exceeds the amount attributable to common shareholders.

  4. Guidance remains strong.

    Q4 sales midpoint is $1.300B, with adjusted EPS midpoint $2.10.

  5. Price carries a hurdle.

    $313.24 implies $1.727B of equity cash at a 3.5% yield.

Comparable businesses

TER peer comparison

Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.

Comparison stocks

Market metrics · missing or inapplicable values shown as —
MetricTERTeradyne, Inc.Snapshot 2026-11-11Financial period: 2026-09-27ENTGEntegris, Inc.Snapshot 2026-11-11Financial period: 2026-09-26AMKRAmkor Technology, Inc.Snapshot 2026-11-11Financial period: 2026-09-30
Market capMarket value, converted to USDUS$41.49BUS$23.56BUS$9.44B
Forward P/EProvider forward earnings estimate22.08x27.26x13.73x
EV / EBITDAEnterprise value / trailing EBITDA21.55x24.24x6.31x
Revenue growthLatest quarter vs prior-year quarter69.8%24.6%0.2%
Operating marginLatest reported quarter32.5%18.6%9.5%
Free cash flow yieldTrailing cash flow / market cap1.4%2.1%-6.3%
Net debt / EBITDANet debt / trailing EBITDA-0.19x3.01x0.24x
Debt / equityTotal debt / positive book equity0.04x0.78x0.56x
Trailing P/ETrailing twelve-month earnings30.55x60.01x15.36x
Price / bookPrice / positive book equity per share11.25x5.41x1.97x
EV / salesEnterprise value / trailing revenue7.61x6.86x1.20x
Earnings growthLatest quarter vs prior-year quarter189.3%123.9%49.0%
Gross marginTrailing twelve months59.3%47.0%16.6%
Net marginTrailing twelve months27.5%11.1%8.3%
Return on equityProvider trailing return; positive equity only42.7%9.6%13.6%
Free cash flow marginTrailing free cash flow / revenue12.0%14.1%-7.9%
Dividend yieldIndicated annual dividend / price0.2%0.3%0.9%
Earnings payoutProvider trailing dividend payout5.9%15.6%13.5%
Current ratioCurrent assets / current liabilities2.08x2.66x2.17x
BetaProvider historical market sensitivity1.751.402.40

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Comparison methodology & limitations

Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.

Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.

Reported performance

Financial trends

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Market context

Valuation & price history

Adjusted closing price

Price history

Price history loads separately.

Earnings-multiple scenario

Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.

Starting assumptions, when available, use provider forward estimates as of 2026-11-11. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.

THE RESEARCH RECORD

Research history for TER

All available reporting periods
Q3 20262026-10-28
Q2 20262026-07-29
Q1 20262026-04-29

Reported figures

Verify material figures against company filings. Market data and AI-assisted analysis may contain errors.