TER - Teradyne, Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$212.70
DETAILS
HIGH:
$275.00
LOW:
$136.00
MEDIAN:
$210.00
CONSENSUS:
$212.70
DOWNSIDE:
6.77%
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||
| Revenue | 2,819.9 | 2,676.3 | 3,155.0 | 3,702.9 | 3,121.5 | 2,295.0 | 2,100.8 | 2,136.6 | 1,753.2 | 1,639.6 |
| Cost of Revenue | 1,171.0 | 1,139.5 | 1,287.9 | 1,496.2 | 1,335.7 | 955.1 | 880.4 | 915.2 | 794.6 | 723.9 |
| Gross Profit | 1,648.9 | 1,536.7 | 1,867.2 | 2,206.7 | 1,785.7 | 1,339.8 | 1,220.4 | 1,221.5 | 958.6 | 915.6 |
| Operating Expenses | ||||||||||
| R&D Expenses | 460.9 | 418.1 | 440.6 | 427.6 | 375.0 | 322.8 | 301.5 | 307.3 | 292.2 | 292.2 |
| SG&A Expenses | 617.0 | 577.3 | 558.1 | 547.6 | 464.8 | 437.1 | 390.7 | 348.9 | 316.5 | 306.3 |
| Other Expenses | (22.8) | 40.3 | 36.5 | 30.8 | 17.6 | 40.1 | 39.2 | 30.5 | 52.6 | 69.0 |
| Operating Expenses | 1,055.1 | 1,035.7 | 1,035.2 | 1,005.9 | 857.3 | 800.1 | 731.4 | 686.7 | 661.4 | 667.6 |
| Operating Income | ||||||||||
| Operating Income | 593.8 | 501.1 | 831.9 | 1,200.7 | 928.4 | 553.7 | 473.8 | 525.3 | (63.0) | 243.0 |
| Interest Expense | 3.6 | 3.8 | 3.7 | 17.8 | 24.2 | 22.2 | 21.8 | 21.7 | 3.6 | 1.9 |
| Interest Income | 24.8 | 27.3 | 6.4 | 2.6 | 6.0 | 17.0 | 20.5 | 17.8 | 9.3 | 7.2 |
| Profitability | ||||||||||
| EBITDA | 732.4 | 640.3 | 954.8 | 1,304.3 | 1,051.9 | 668.7 | 602.8 | 654.1 | 68.6 | 395.8 |
| EBIT | 612.7 | 529.4 | 844.1 | 1,178.8 | 925.2 | 548.0 | 489.6 | 546.1 | (51.4) | 255.0 |
| Income Before Tax | 601.9 | 525.6 | 840.4 | 1,161.0 | 901.0 | 525.8 | 467.8 | 524.4 | (55.1) | 253.1 |
| Income Tax Expense | 59.5 | 76.8 | 124.9 | 146.4 | 116.9 | 58.3 | 16.0 | 266.7 | (11.6) | 46.6 |
| Net Income | 542.4 | 448.8 | 715.5 | 1,014.6 | 784.1 | 467.5 | 451.8 | 257.7 | (43.4) | 206.5 |
| Per Share Data | ||||||||||
| EPS (Basic) | 3.41 | 2.91 | 4.52 | 6.15 | 4.72 | 2.74 | 2.41 | 1.30 | -0.21 | 0.98 |
| EPS (Diluted) | 3.32 | 2.73 | 4.22 | 5.53 | 4.28 | 2.60 | 2.35 | 1.28 | -0.21 | 0.97 |
| Shares Outstanding | 159.1 | 154.3 | 158.4 | 165.0 | 166.1 | 170.4 | 187.7 | 198.1 | 202.6 | 211.5 |
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 553.4 | 757.6 | 854.8 | 1,122.2 | 914.1 | 773.9 | 926.8 | 429.8 | 307.9 | 264.7 |
| Short-Term Investments | 46.3 | 62.2 | 39.6 | 244.2 | 522.3 | 137.3 | 190.1 | 1,348.0 | 871.0 | 477.7 |
| Net Receivables | 471.4 | 422.1 | 491.1 | 550.7 | 497.5 | 362.4 | 291.3 | 272.8 | 192.4 | 211.3 |
| Inventory | 664.4 | 812.2 | 816.1 | 607.8 | 434.5 | 340.1 | 285.2 | 190.0 | 213.0 | 153.6 |
| Other Current Assets | 17.7 | 61.2 | 14.4 | 9.5 | 9.2 | 11.9 | 8.3 | 4.0 | 8.0 | 127.5 |
| Total Current Assets | 1,816.4 | 2,162.0 | 2,257.9 | 2,576.2 | 2,415.4 | 1,658.9 | 1,732.5 | 2,270.3 | 1,623.8 | 1,260.0 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 578.4 | 518.9 | 492.4 | 456.0 | 449.4 | 377.8 | 279.8 | 268.4 | 253.8 | 273.4 |
| Goodwill | 395.4 | 415.7 | 403.2 | 426.0 | 453.9 | 416.4 | 381.9 | 252.0 | 223.3 | 488.4 |
| Intangible Assets | 15.9 | 35.4 | 53.5 | 75.6 | 100.9 | 125.5 | 125.5 | 79.1 | 100.4 | 239.8 |
| Long-Term Investments | 618.6 | 117.4 | 110.8 | 133.9 | 118.0 | 104.5 | 87.7 | 125.9 | 433.8 | 265.9 |
| Other Non-Current Assets | 61.6 | 61.6 | 40.7 | 39.2 | 26.9 | 28.8 | 28.4 | 29.8 | 19.9 | 13.7 |
| Total Non-Current Assets | 1,892.3 | 1,324.8 | 1,243.3 | 1,233.2 | 1,236.9 | 1,128.1 | 974.1 | 839.3 | 1,138.7 | 1,288.7 |
| Total Assets | 3,708.7 | 3,486.8 | 3,501.3 | 3,809.4 | 3,652.3 | 2,787.0 | 2,706.6 | 3,109.5 | 2,762.5 | 2,548.7 |
| Current Liabilities | ||||||||||
| Account Payables | 134.8 | 180.1 | 139.7 | 153.1 | 133.7 | 126.6 | 100.7 | 86.4 | 95.4 | 92.4 |
| Short-Term Debt | 18.7 | 17.5 | 68.7 | 39.2 | 53.9 | 19.5 | 0.0 | 0.0 | 0.0 | 0.0 |
| Deferred Revenue | 107.7 | 99.8 | 148.3 | 146.2 | 134.7 | 104.9 | 77.7 | 83.6 | 0.0 | 85.5 |
| Other Current Liabilities | 90.8 | 122.1 | 112.3 | 124.2 | 77.6 | 80.0 | 113.1 | 83.6 | 136.9 | 129.5 |
| Total Current Liabilities | 624.6 | 660.0 | 746.3 | 805.1 | 700.9 | 539.0 | 476.3 | 454.3 | 372.7 | 372.9 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 0.0 | 0.0 | 0.0 | 89.2 | 376.8 | 394.7 | 380.0 | 366.0 | 352.7 | 0.0 |
| Deferred Tax Liabilities | 1.0 | 0.2 | 3.3 | 6.3 | 10.8 | 14.1 | 20.7 | 6.7 | 12.1 | 26.7 |
| Other Non-Current Liabilities | 165.4 | 198.4 | 191.1 | 233.7 | 252.6 | 267.2 | 274.6 | 298.7 | 196.3 | 157.6 |
| Total Non-Current Liabilities | 264.8 | 301.0 | 303.7 | 440.3 | 740.7 | 767.8 | 708.0 | 701.6 | 561.1 | 210.0 |
| Total Liabilities | 889.4 | 960.9 | 1,050.0 | 1,245.5 | 1,441.5 | 1,306.9 | 1,184.3 | 1,155.9 | 933.8 | 582.9 |
| Stockholders' Equity | ||||||||||
| Common Stock | 20.2 | 19.1 | 19.5 | 21.8 | 24.6 | 20.8 | 21.9 | 24.4 | 24.9 | 25.5 |
| Retained Earnings | 970.8 | 706.5 | 725.7 | 736.6 | 387.4 | (241.9) | (158.2) | 272.0 | 230.3 | 467.8 |
| Accumulated Other Comprehensive Income | (81.2) | (27.0) | (49.9) | (5.9) | 33.5 | (18.9) | (13.0) | 18.8 | (20.2) | (8.1) |
| Total Stockholders' Equity | 2,819.3 | 2,525.9 | 2,451.3 | 2,564.0 | 2,210.8 | 1,480.2 | 1,522.4 | 1,953.6 | 1,828.7 | 1,965.8 |
| Total Liabilities & Equity | 3,708.7 | 3,486.8 | 3,501.3 | 3,809.4 | 3,652.3 | 2,787.0 | 2,706.6 | 3,109.5 | 2,762.5 | 2,548.7 |
| Debt Metrics | ||||||||||
| Total Debt | 76.6 | 82.6 | 132.9 | 184.6 | 472.8 | 460.0 | 380.0 | 366.0 | 352.7 | 0.0 |
| Net Debt | (476.7) | (675.0) | (721.9) | (937.6) | (441.4) | (313.9) | (546.8) | (63.9) | 44.8 | (264.7) |
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 542.4 | 448.8 | 715.5 | 1,014.6 | 784.1 | 467.5 | 451.8 | 257.7 | (43.4) | 206.5 |
| Depreciation & Amortization | 119.7 | 111.1 | 110.1 | 112.5 | 110.9 | 120.7 | 113.2 | 108.1 | 120.0 | 140.8 |
| Stock-Based Compensation | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Change in Working Capital | 23.9 | (9.6) | (272.6) | (98.8) | (69.4) | (51.7) | (163.5) | 183.1 | 40.8 | 9.3 |
| Other Non-Cash Items | 32.5 | 72.6 | 63.6 | 87.3 | 58.9 | 51.8 | 47.1 | 40.5 | 391.4 | 61.2 |
| Operating Cash Flow | 672.2 | 585.2 | 577.9 | 1,098.4 | 868.9 | 578.8 | 476.9 | 626.5 | 445.8 | 410.6 |
| Investing Activities | ||||||||||
| Capital Expenditure | (198.1) | (159.6) | (163.2) | (132.5) | (185.0) | (134.6) | (114.4) | (105.4) | (85.3) | (89.9) |
| Acquisitions | 90.3 | 0.0 | 3.4 | (12.0) | 0.1 | (79.7) | (161.6) | 0.0 | 0.0 | (282.7) |
| Purchases of Investments | (577.9) | (161.9) | (287.4) | (661.8) | (900.2) | (662.7) | (918.7) | (1,391.9) | (1,656.3) | (1,424.0) |
| Sales/Maturities of Investments | 62.4 | 146.4 | 491.0 | 926.6 | 514.7 | 717.5 | 2,116.6 | 1,229.4 | 1,096.0 | 1,681.8 |
| Other Investing Activities | 0.9 | (4.5) | 0.0 | 0.0 | 0.5 | 2.9 | 1.1 | 5.1 | 5.1 | 1.1 |
| Investing Cash Flow | (622.3) | (179.6) | 43.8 | 120.4 | (569.8) | (156.7) | 923.0 | (262.8) | (640.5) | (113.7) |
| Financing Activities | ||||||||||
| Net Debt Issuance | 0.0 | (50.3) | (66.8) | (343.0) | 0.0 | 0.0 | 0.0 | 0.0 | 450.8 | 0.0 |
| Stock Repurchased | (198.6) | (397.2) | (752.1) | (600.0) | (88.5) | (500.0) | (823.5) | (200.3) | (146.3) | (299.9) |
| Dividends Paid | (76.4) | (67.9) | (69.7) | (66.0) | (66.5) | (61.3) | (67.3) | (55.4) | (48.6) | (50.7) |
| Other Financing Activities | 0.0 | 0.0 | 0.0 | 0.0 | (8.9) | (27.6) | (13.6) | (1.1) | (5.5) | 4.7 |
| Financing Cash Flow | (251.8) | (501.9) | (893.0) | (1,008.6) | (158.3) | (574.3) | (903.4) | (245.2) | 237.8 | (326.4) |
| Cash Position | ||||||||||
| Net Change in Cash | (204.2) | (97.2) | (267.4) | 208.1 | 140.2 | (152.8) | 496.9 | 122.0 | 43.2 | (29.6) |
| Cash at Beginning | 757.6 | 854.8 | 1,122.2 | 914.1 | 773.9 | 926.8 | 429.8 | 307.9 | 264.7 | 294.3 |
| Cash at End | 553.4 | 757.6 | 854.8 | 1,122.2 | 914.1 | 773.9 | 926.8 | 429.8 | 307.9 | 264.7 |
| Free Cash Flow | 474.1 | 425.6 | 414.7 | 965.9 | 684.0 | 444.1 | 362.5 | 521.1 | 360.5 | 320.7 |
| Key Metrics | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 2,819.9 | 2,676.3 | 3,155.0 | 3,702.9 | 3,121.5 | 2,295.0 | 2,100.8 | 2,136.6 | 1,753.2 | 1,639.6 |
| Gross Profit | 1,648.9 | 1,536.7 | 1,867.2 | 2,206.7 | 1,785.7 | 1,339.8 | 1,220.4 | 1,221.5 | 958.6 | 915.6 |
| Operating Income | 593.8 | 501.1 | 831.9 | 1,200.7 | 928.4 | 553.7 | 473.8 | 525.3 | (63.0) | 243.0 |
| Net Income | 542.4 | 448.8 | 715.5 | 1,014.6 | 784.1 | 467.5 | 451.8 | 257.7 | (43.4) | 206.5 |
| EPS (Diluted) | 3.32 | 2.73 | 4.22 | 5.53 | 4.28 | 2.60 | 2.35 | 1.28 | -0.21 | 0.97 |
| Balance Sheet | ||||||||||
| Cash & Equivalents | 553.4 | 757.6 | 854.8 | 1,122.2 | 914.1 | 773.9 | 926.8 | 429.8 | 307.9 | 264.7 |
| Total Assets | 3,708.7 | 3,486.8 | 3,501.3 | 3,809.4 | 3,652.3 | 2,787.0 | 2,706.6 | 3,109.5 | 2,762.5 | 2,548.7 |
| Total Debt | 76.6 | 82.6 | 132.9 | 184.6 | 472.8 | 460.0 | 380.0 | 366.0 | 352.7 | 0.0 |
| Stockholders' Equity | 2,819.3 | 2,525.9 | 2,451.3 | 2,564.0 | 2,210.8 | 1,480.2 | 1,522.4 | 1,953.6 | 1,828.7 | 1,965.8 |
| Cash Flow | ||||||||||
| Operating Cash Flow | 672.2 | 585.2 | 577.9 | 1,098.4 | 868.9 | 578.8 | 476.9 | 626.5 | 445.8 | 410.6 |
| Capital Expenditure | (198.1) | (159.6) | (163.2) | (132.5) | (185.0) | (134.6) | (114.4) | (105.4) | (85.3) | (89.9) |
| Free Cash Flow | 474.1 | 425.6 | 414.7 | 965.9 | 684.0 | 444.1 | 362.5 | 521.1 | 360.5 | 320.7 |