Teradyne (TER) Research | Aerarium Research

Forward Estimates

EPS Estimates

Current Qtr

$2.05

$2.00$2.14

vs $0.57+260.4%

16 analysts

Next Qtr

$1.39

$0.82$1.84

vs $0.85+63.4%

16 analysts

Current Yr

$7.24

$6.32$8.03

vs $3.96+82.9%

16 analysts

Next Yr

$9.60

$7.10$11.47

vs $7.24+32.5%

17 analysts

Revenue Estimates

Current Qtr

$1.22B

$1.20B$1.25B

vs $651.80M+86.9%

15 analysts

Next Qtr

$1.01B

$896.79M$1.13B

vs $769.21M+31.4%

15 analysts

Current Yr

$4.48B

$4.25B$4.75B

vs $3.19B+40.3%

16 analysts

Next Yr

$5.48B

$4.34B$6.81B

vs $4.48B+22.4%

18 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for TER on EDGAR.

TER filing events and research context
Filed	Item	Context
May 1, 2026	mda_quarterly	Teradyne’s financial performance is primarily driven by the semiconductor test segment, which is benefiting from the proliferation of AI-enabled chips and the specific testing requirements of high-bandwidth memory (HBM) and complex system-on-chip (SoC) architectures. These AI-driven catalysts are partially offsetting continued weakness in the automotive and industrial semiconductor markets, where inventory adjustments persist. The robotics segment, comprising Universal Robots and MiR, continues to face headwinds as industrial customers delay capital expenditures due to macroeconomic uncertainty, though the integration of AI into collaborative robot platforms is intended to drive future adoption. Key risks include geopolitical tensions affecting supply chains in Asia and the inherent cyclicality of the semiconductor industry. Management is prioritizing the expansion of the UltraFLEX and IGXL platforms to capture the transition toward more advanced chip designs. Strong cash flow and liquidity support ongoing R&D investments aimed at enhancing automation capabilities and diversifying revenue streams across the robotics portfolio.
Feb 19, 2026	business	Teradyne provides capital equipment for the semiconductor, electronics, and robotics industries. The business is highly cyclical, depending heavily on the capital expenditures of semiconductor manufacturers and global economic conditions. Revenue is significantly concentrated, with the five largest customers accounting for 44% of consolidated revenues in 2025. The company faces intense global competition from established firms and emerging Asian companies, as well as internal development by its own customers. Growth is driven by strategic acquisitions, including Universal Robots, MiR, AET, and Quantifi, and a strategic partnership with Technoprobe. Operational risks include significant exposure to Asian manufacturing and foundries in Taiwan, China, and Korea, alongside geopolitical tensions and regulatory uncertainties in China. Financially, Teradyne utilizes a $750 million senior secured revolving credit facility to fund manufacturing ramp-ups and shareholder returns. The company's effective tax rate is materially impacted by a Singapore tax holiday extended through 2035. Key financial vulnerabilities include foreign currency fluctuations—particularly affecting Robotics revenue—and the potential for goodwill impairment following its inorganic growth strategy. Failure to innovate or adapt to rapidly evolving technological substitutes poses a primary risk to long-term market acceptance and margins.
Feb 19, 2026	mda	Teradyne’s 2025 revenues rose to $3.19 billion, driven by an 18.8% increase in the Semiconductor Test segment to $2.52 billion. This growth was fueled by robust demand for AI applications in networking and vertically integrated producer (VIP) compute solutions, a trend expected to persist into early 2026. The Product Test segment grew 8.1% to $358 million, bolstered by defense and aerospace applications. Conversely, Robotics revenue declined 15.5% to $308 million due to lower sales of collaborative arms and autonomous mobile robots, though the segment achieved three consecutive quarters of sequential growth by year-end. Strategic growth initiatives include the $127.2 million acquisition of Quantifi Photonics for PIC test solutions, the purchase of Infineon’s AET technology, and a 75% ownership joint venture with MultiLane targeting the AI Data Center market. Key financial risks include significant customer concentration, with the five largest customers accounting for 44% of revenue, and U.S. dollar strength impacting Robotics. Capital allocation focused on shareholder returns, with $778.4 million distributed via dividends and buybacks under a $2.0 billion repurchase program. Liquidity is supported by $448.3 million in cash and marketable securities and a $750 million revolving credit facility.

Filed

Item

Context

May 1, 2026

mda_quarterly

Teradyne’s financial performance is primarily driven by the semiconductor test segment, which is benefiting from the proliferation of AI-enabled chips and the specific testing requirements of high-bandwidth memory (HBM) and complex system-on-chip (SoC) architectures. These AI-driven catalysts are partially offsetting continued weakness in the automotive and industrial semiconductor markets, where inventory adjustments persist. The robotics segment, comprising Universal Robots and MiR, continues to face headwinds as industrial customers delay capital expenditures due to macroeconomic uncertainty, though the integration of AI into collaborative robot platforms is intended to drive future adoption. Key risks include geopolitical tensions affecting supply chains in Asia and the inherent cyclicality of the semiconductor industry. Management is prioritizing the expansion of the UltraFLEX and IGXL platforms to capture the transition toward more advanced chip designs. Strong cash flow and liquidity support ongoing R&D investments aimed at enhancing automation capabilities and diversifying revenue streams across the robotics portfolio.

Feb 19, 2026

business

Teradyne provides capital equipment for the semiconductor, electronics, and robotics industries. The business is highly cyclical, depending heavily on the capital expenditures of semiconductor manufacturers and global economic conditions. Revenue is significantly concentrated, with the five largest customers accounting for 44% of consolidated revenues in 2025. The company faces intense global competition from established firms and emerging Asian companies, as well as internal development by its own customers. Growth is driven by strategic acquisitions, including Universal Robots, MiR, AET, and Quantifi, and a strategic partnership with Technoprobe. Operational risks include significant exposure to Asian manufacturing and foundries in Taiwan, China, and Korea, alongside geopolitical tensions and regulatory uncertainties in China. Financially, Teradyne utilizes a $750 million senior secured revolving credit facility to fund manufacturing ramp-ups and shareholder returns. The company's effective tax rate is materially impacted by a Singapore tax holiday extended through 2035. Key financial vulnerabilities include foreign currency fluctuations—particularly affecting Robotics revenue—and the potential for goodwill impairment following its inorganic growth strategy. Failure to innovate or adapt to rapidly evolving technological substitutes poses a primary risk to long-term market acceptance and margins.

Feb 19, 2026

mda

Teradyne’s 2025 revenues rose to $3.19 billion, driven by an 18.8% increase in the Semiconductor Test segment to $2.52 billion. This growth was fueled by robust demand for AI applications in networking and vertically integrated producer (VIP) compute solutions, a trend expected to persist into early 2026. The Product Test segment grew 8.1% to $358 million, bolstered by defense and aerospace applications. Conversely, Robotics revenue declined 15.5% to $308 million due to lower sales of collaborative arms and autonomous mobile robots, though the segment achieved three consecutive quarters of sequential growth by year-end. Strategic growth initiatives include the $127.2 million acquisition of Quantifi Photonics for PIC test solutions, the purchase of Infineon’s AET technology, and a 75% ownership joint venture with MultiLane targeting the AI Data Center market. Key financial risks include significant customer concentration, with the five largest customers accounting for 44% of revenue, and U.S. dollar strength impacting Robotics. Capital allocation focused on shareholder returns, with $778.4 million distributed via dividends and buybacks under a $2.0 billion repurchase program. Liquidity is supported by $448.3 million in cash and marketable securities and a $750 million revolving credit facility.

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TER filing events and research context

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