TER

Teradyne, Inc.

$335.53

+3.24% 2026-10-19

Information TechnologyS&P 500

1M 3M 6M 1Y 2Y

TERSPY

-12.6%

-9.7%

+0.6%

-10.5%

YTD

+73.6%

+143.3%

Grades vs sector

Momentum

87th pct in sector

A-

12-1 return: +121.0%
Percentile within its GICS sector across the S&P 1500.

Growth

97th pct in sector

A+

Revenue growth (YoY): +103.9%
Percentile within its GICS sector across the S&P 1500.

Value

22nd pct in sector

Forward E/P: 3.6% · EBITDA/EV: 3.0%
Percentile within its GICS sector across the S&P 1500.

Profitability

83rd pct in sector

A-

Profit margin: +25.8% · Return on equity: +36.5%
Percentile within its GICS sector across the S&P 1500.

Revisions

no data

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Held by 2 of 3 live models: Momentum Top 15, Quality Growth.

Momentum Top 15

6.7% of the book · rank 12 of 499

Held Quality Growth

6.7% of the book · rank 10 of 360

Held Momentum Blend

not in the current book

Why it's in Momentum Top 15 #12 of 499

Qualified on 12-1 momentum of +154.6% (its gain from 12 months to 1 month before 2026-09-30). Ranked 12th of 499 at the 2026-09-30 rebalance.

What would knock it out: Drops out if it falls outside the top 15 at the next rebalance (Oct 30). In the latest preview (2026-10-16) it ranks 14th.

Why it's in Quality Growth #10 of 360

Qualified on ROIC 35%, revenue +58% (TTM), growth accelerating +71.4 pts, latest quarter 2026-06-28. Ranked 10th of 360 at the 2026-09-30 rebalance.

What would knock it out: Drops out if it falls outside the top 15 at the next rebalance (Oct 30). In the latest preview (2026-10-16) it ranks 10th.

Key stats

Market cap$52.5B

P/E (trailing)46.1

P/E (forward)28.8

52-week range135.83 – 487.91

Revenue growth (YoY, latest qtr)+103.9%

Dividend yield0.16%

Analyst consensusBuy (15)

Mean price target$445.47 (+33%)

Valuation & fundamentals

Bottom line

Leans expensive

Model read-out from the numbers below, not advice. Score -2 (DCF counts double).

▼DCF (base case)below the price by 36%

▼Forward P/E vs sector28.8x vs median 16.9x

•Piotroski F-score6/9

▲Altman Z24.2 (safe)

▲Net debt / EBITDA-0.4x

▲Analyst target+33% (15 analysts)

Discounted cash flow

CyclicalValued on average-cycle margins

Bear

$106

-68%

growth 18% · disc. 14.0% · term. 2.0%

Base

$215

-36%

growth 30% · disc. 13.0% · term. 2.5%

Bull

$363

+8%

growth 38% · disc. 12.0% · term. 3.0%

Starting cash flow is mid-cycle: 19.0% average margin × current revenue = 0.8B (last 12 months: 0.8B at a 18% margin). On trailing cash flow the base case would be $203.

Reverse DCFfor context, not a signal

Today's price assumes free cash flow grows about 29% a year for 10 years.

Implied

+29%/yr

FCF, last 3 yrs

+3%/yr

FCF, last 5 yrs

-8%/yr

Revenue, last 3 yrs

+0%/yr

Revenue, last 5 yrs

+0%/yr

Same inputs as the DCF above: mid-cycle free cash flow 0.8B, 13.0% discount rate, 2.5% growth after year 10, net cash and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-28). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.75 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Information Technology

P/E (trailing)

sector median 35.9× · 68th pct

46.1×
pricier

Forward P/E

sector median 16.9× · 84th pct

28.8×
pricier

EV / EBITDA

sector median 20.8× · 75th pct

35.0×
pricier

Price / sales

sector median 4.6× · 83rd pct

11.8×
pricier

Price / book

sector median 5.1× · 85th pct

15.3×
pricier

FCF yield

sector median 3.5% · 23rd pct

1.5%
pricier

Forward EPS $11.65 vs trailing $7.28 (+60% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO

$130.2M

as of 2026-06-28

vs a year ago

-86%

YoY

× TTM revenue

0.03×

coverage

24-09

24-12

25-03

25-06

25-09

25-12

26-03

26-06

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin

59.2%

Operating margin

30.2%

FCF margin

17.9%

Net margin

25.8%

Return on equity

33.5%

Return on invested capital

41.9%

Net debt / EBITDA

-0.4×

Current ratio

2.1×

Interest cover

118.8×

Cash conversion (OCF/NI)

0.9×

Piotroski F-score 6/9 · last two fiscal years

✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✓ Asset turnover improved

Altman Z-score 24.2 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target

$445

+33%

Analysts

Buy

Range

$350–$550

low – high

● price · ◆ mean target

Annual history

FY	Revenue	Net income	Free cash flow
2025	$3.2B	$554.0M	$450.4M
2024	$2.8B	$542.4M	$474.1M
2023	$2.7B	$448.8M	$425.6M
2022	$3.2B	$715.5M	$414.7M
2021	$3.7B	$1.0B	$965.9M
2020	$3.1B	$784.1M	$684.0M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +0.4%.

Earnings

Next report: 2026-10-27 · after close · EPS est 2.05

EstimateActual (beat)Actual (miss)

Report	EPS est	Actual	Surprise
2026-07-28	2.05	2.47	+20.3%
2026-04-28	2.12	2.56	+20.9%
2026-02-02	1.38	1.80	+30.1%
2025-10-28	0.79	0.85	+7.4%
2025-07-29	0.54	0.57	+4.9%
2025-04-28	0.62	0.75	+21.7%
2025-01-29	0.91	0.95	+4.5%
2024-10-23	0.79	0.90	+14.2%

Quarterly revenue

Quarter	Revenue	YoY
2026-06-30	$1.3B	+103.9%
2026-03-31	$1.3B	–
2025-12-31	$1.1B	–
2025-09-30	$769.2M	–
2025-06-30	$651.8M	–

Analyst actions

Baird

2026-08-21 · down

Outperform → Neutral
PT $420

Morgan Stanley

2026-07-30 · main

Equal-Weight → Equal-Weight
PT $397

Evercore ISI Group

2026-07-30 · main

Outperform → Outperform
PT $420

Cantor Fitzgerald

2026-07-29 · reit

Overweight → Overweight
PT $550

UBS

2026-07-20 · main

Buy → Buy
PT $500

Goldman Sachs

2026-07-06 · main

Buy → Buy
PT $465

Recent dividends

2026-09-04: $0.130 · 2026-05-21: $0.130 · 2026-02-13: $0.130 · 2025-11-24: $0.120 · 2025-09-05: $0.120 · 2025-05-22: $0.120 · 2025-02-14: $0.120 · 2024-11-25: $0.120

Insider trades

Smith Gregory Stephen

Director, President and CEO · 2026-10-15

SELL
$1.4M

Matz Marilyn

Director · 2026-10-15

SELL
$273.0K

Johnson Mercedes

Director · 2026-10-01

SELL
$67.3K

Matz Marilyn

Director · 2026-09-17

SELL
$140.4K

Smith Gregory Stephen

Director, President and CEO · 2026-09-15

SELL
$1.4M

Matz Marilyn

Director · 2026-09-15

SELL
$270.3K

Johnson Mercedes

Director · 2026-09-01

SELL
$57.0K

Smith Gregory Stephen

Director, President and CEO · 2026-08-17

SELL
$1.7M

Matz Marilyn

Director · 2026-08-17

SELL
$510.0K

Johnson Mercedes

Director · 2026-08-03

SELL
$59.5K

None

None · None

SELL
–

None

None · None

SELL
–

Research

Momentum Top 15: the October 2026 book, a rough start, and what the backtest says to expect2026-10-18

News

FormFactor, Teradyne, Entegris, Kulicke and Soffa, and Seagate Shares Skyrocket, What You Need To Know

StockStory · 7h ago

3 AI Infrastructure Stocks Retail Investors Are Watching In US Tech

Simply Wall St. · Oct 18

SoftBank Wants to Buy America’s Biggest Security Guard Company and Use Robots

24/7 Wall St. · Oct 17

Teradyne (TER) Falls More Steeply Than Broader Market: What Investors Need to Know

Zacks · Oct 16

Vishay Intertechnology, FormFactor, Teradyne, Penguin Solutions, and Applied Materials Stocks Trade Down, What You Need To Know

StockStory · Oct 16

FormFactor, Teradyne, Applied Materials, AMD, and Intel Shares Plummet, What You Need To Know

StockStory · Oct 15

Is Teradyne (TER) Using Edge AI Test Expansion To Redefine Its Long‑Term Competitive Moat?

Simply Wall St. · Oct 14

Teradyne (TER) Launches Edge AI Test Platform, Is The Upside Already Priced In?

Simply Wall St. · Oct 14

Stats refreshed 2026-10-19 17:46:59 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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Coteau Systematic StrategiesSystematic equity research and model portfolios.
Coteau Systematic Strategies publishes research, model portfolios and tools. It does not manage money or offer investment advice. Model results are hypothetical. Data: Yahoo Finance (delayed), SEC EDGAR.

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