TER financial statements

The full income statement, balance sheet, and cash-flow statement for Teradyne Inc. (TER), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 163.2M2024-09 162.9M2024-12 161.7M2025-03 160.4M2025-06 159.1M2025-09 156.6M2025-12 156.6M2026-03 156.5M2026-06 156.3M-4.2% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21	as ofJan 1 ’21
Revenue	3.19B YoY+13.1%	2.82B YoY+5.4%	2.68B YoY-15.2%	3.16B YoY-14.8%	3.70B YoY+18.6%	3.12B YoY+36.0%
	1.86B YoY+12.6%	1.65B YoY+7.3%	1.54B YoY-17.7%	1.87B YoY-15.4%	2.21B YoY+23.6%	1.79B YoY+33.3%
Cost of revenue	1.33B YoY+13.8%	1.17B YoY+2.8%	1.14B YoY-11.5%	1.29B YoY-13.9%	1.50B YoY+12.0%	1.34B YoY+39.8%
	1.21B YoY+14.4%	1.06B YoY+1.9%	1.04B YoY+0.0%	1.04B YoY+2.9%	1.01B YoY+17.3%	857M YoY+9.1%
Research & development	505M YoY+9.5%	461M YoY+10.2%	418M YoY-5.1%	441M YoY+3.0%	428M YoY+14.0%	375M YoY+16.2%
Selling, general & administrative	649M YoY+5.2%	617M YoY+6.9%	577M YoY+3.4%	558M YoY+1.9%	548M YoY+17.8%	465M YoY+6.3%
General & administrative	169M YoY+1.8%	166M YoY+3.9%	159M YoY+3.4%	154M	—	—
Selling & marketing	367M YoY+4.4%	351M YoY+9.9%	319M YoY+3.0%	310M	—	—
Amortization of intangibles	15.3M YoY-18.6%	18.8M YoY-1.2%	19.0M YoY-1.7%	19.3M YoY-9.9%	21.5M YoY-30.3%	30.8M YoY-23.3%
Operating income	650M YoY+9.5%	594M YoY+18.5%	501M YoY-39.8%	832M YoY-30.7%	1.20B YoY+29.3%	928M YoY+67.7%
Interest expense	6.85M YoY+90.9%	3.59M YoY-5.8%	3.81M YoY+2.3%	3.72M YoY-79.1%	17.8M YoY-26.3%	24.2M YoY+8.8%
Interest & investment income	15.7M YoY-36.6%	24.8M YoY-9.4%	27.3M YoY+328.7%	6.38M YoY+142.8%	2.63M YoY-56.1%	5.98M YoY-64.8%
Other non-operating income	-5.64M YoY+4.2%	-5.89M YoY-712.0%	962K YoY-83.4%	5.79M YoY+123.5%	-24.6M YoY-167.3%	-9.19M YoY+59.4%
Equity-method income	-19.9M YoY-176.2%	-7.21M	0.00	0.00	—	—
Pre-tax income	653M YoY+7.3%	609M YoY+15.9%	526M YoY-37.5%	840M YoY-27.6%	1.16B YoY+28.8%	901M YoY+71.4%
Income tax	79.3M YoY+33.3%	59.5M YoY-22.5%	76.8M YoY-38.5%	125M YoY-14.7%	146M YoY+25.2%	117M YoY+100.4%
Net income	554M YoY+2.2%	542M YoY+20.9%	449M YoY-37.3%	716M YoY-29.5%	1.01B YoY+29.4%	784M YoY+67.7%
	$3.47 YoY+4.5%	$3.32 YoY+21.6%	$2.73 YoY-35.3%	$4.22 YoY-23.7%	$5.53	—
EPS (basic)	$3.48 YoY+2.1%	$3.41 YoY+17.2%	$2.91 YoY-35.6%	$4.52 YoY-26.5%	$6.15	—
	159M YoY+0.0%	159M YoY+3.1%	154M YoY-2.6%	158M YoY-4.0%	165M YoY-0.7%	166M YoY-2.5%
	160M YoY-2.2%	163M YoY-0.6%	164M YoY-3.2%	170M YoY-7.6%	184M YoY+0.3%	183M YoY+2.0%
Dividends per share	$0.48 YoY+0.0%	$0.48 YoY+9.1%	$0.44 YoY+0.0%	$0.44 YoY+10.0%	$0.40 YoY+0.3%	$0.40 YoY+8.5%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21	as ofJan 1 ’21
	1.95B YoY+7.3%	1.82B YoY-16.0%	2.16B YoY-4.2%	2.26B YoY-12.4%	2.58B YoY+6.7%	2.42B YoY+45.6%
Cash & equivalents	294M YoY-46.9%	553M YoY-27.0%	758M YoY-11.4%	855M YoY-23.8%	1.12B YoY+22.8%	914M YoY+18.1%
Short-term investments	—	—	—	—	—	522M YoY+280.4%
Accounts receivable	787M YoY+66.9%	471M YoY+11.7%	422M YoY-14.1%	491M YoY-10.8%	551M YoY+10.7%	498M YoY+37.3%
Inventory	380M YoY+27.2%	298M YoY-3.7%	310M YoY-4.6%	325M YoY+33.6%	243M YoY+9.5%	222M YoY+13.0%
Prepaid expenses	428M YoY-0.4%	429M YoY-21.8%	549M YoY+3.0%	533M YoY+31.2%	406M YoY+56.7%	259M YoY+37.5%
Other current assets	33.3M YoY+87.7%	17.7M YoY-53.3%	38.0M YoY+163.8%	14.4M YoY+52.4%	9.45M YoY+2.2%	9.25M
	4.18B YoY+12.8%	3.71B YoY+6.4%	3.49B YoY-0.4%	3.50B YoY-8.1%	3.81B YoY+4.3%	3.65B YoY+31.0%
Property, plant & equipment	563M YoY+10.8%	508M YoY+14.1%	445M YoY+6.4%	419M YoY+8.1%	387M YoY-1.9%	395M YoY+23.3%
Operating lease right-of-use	76.6M YoY+9.2%	70.2M YoY-4.4%	73.4M YoY-0.4%	73.7M YoY+7.2%	68.8M YoY+26.1%	54.6M YoY-5.2%
Goodwill	521M YoY+31.8%	395M YoY-4.9%	416M YoY+3.1%	403M YoY-5.4%	426M YoY-6.1%	454M YoY+9.0%
Intangible assets	51.3M YoY+221.9%	15.9M YoY-55.0%	35.4M YoY-33.8%	53.5M YoY-29.3%	75.6M YoY-25.1%	101M YoY-19.6%
Deferred tax assets	275M YoY+23.7%	222M YoY+26.5%	176M YoY+23.1%	143M YoY+39.4%	102M YoY+16.5%	87.9M YoY+16.9%
Other non-current assets	71.7M YoY+44.5%	49.6M YoY+28.6%	38.6M YoY+33.4%	28.9M YoY+20.0%	24.1M YoY+156.8%	9.38M YoY-9.2%
	1.12B YoY+78.6%	625M YoY-5.4%	660M YoY-11.6%	746M YoY-7.3%	805M YoY+14.9%	701M YoY+30.0%
Accounts payable	269M YoY+99.7%	135M YoY-25.2%	180M YoY+28.9%	140M YoY-8.8%	153M YoY+14.6%	134M YoY+5.6%
Short-term & current debt	200M	—	—	—	—	—
Current lease liability	19.3M YoY+3.4%	18.7M YoY+6.7%	17.5M YoY-5.8%	18.6M YoY-6.9%	20.0M YoY-2.9%	20.6M YoY+5.6%
	1.39B YoY+56.0%	889M YoY-7.4%	961M YoY-8.5%	1.05B YoY-15.7%	1.25B YoY-13.6%	1.44B YoY+10.3%
Deferred revenue (non-current)	50.9M YoY+25.6%	40.5M YoY+8.6%	37.3M YoY-17.4%	45.1M YoY-17.8%	54.9M YoY-5.9%	58.4M YoY+26.9%
Non-current lease liability	63.9M YoY+10.3%	57.9M YoY-11.0%	65.1M YoY+1.4%	64.2M YoY+14.2%	56.2M YoY+33.5%	42.1M YoY-8.2%
Operating lease liability (total)	83.2M YoY+8.6%	76.6M YoY-7.3%	82.6M YoY-0.2%	82.8M YoY+8.7%	76.2M	—
	2.80B YoY-0.8%	2.82B YoY+11.6%	2.53B YoY+3.0%	2.45B YoY-4.3%	2.56B YoY+16.1%	2.21B YoY+49.1%
Common stock	19.5M YoY-3.5%	20.2M YoY+5.9%	19.1M YoY-2.0%	19.5M YoY-4.0%	20.3M YoY-2.3%	20.8M YoY-0.2%
Additional paid-in capital	1.99B YoY+4.2%	1.91B YoY+4.5%	1.83B YoY+4.1%	1.76B YoY-3.1%	1.81B YoY+2.6%	1.77B YoY+2.6%
Retained earnings	744M YoY-23.3%	971M YoY+37.4%	707M YoY-2.6%	726M YoY-1.5%	737M YoY+90.1%	387M YoY+260.1%
Treasury stock	709M YoY+255.4%	199M YoY-50.2%	401M YoY-70.4%	1.35B YoY+125.4%	600M YoY-70.0%	2.00B YoY+700.0%
Accumulated other comprehensive income	41.9M YoY+151.6%	-81.2M YoY-201.1%	-27.0M YoY+45.9%	-49.9M YoY-738.4%	-5.95M YoY-117.7%	33.5M YoY+277.8%
Total equity incl. non-controlling	2.80B YoY-0.8%	2.82B	—	—	—	—
Total liabilities & equity	4.18B YoY+12.8%	3.71B YoY+6.4%	3.49B YoY-0.4%	3.50B YoY-8.1%	3.81B YoY+4.3%	3.65B YoY+31.0%
	156M YoY-3.5%	162M YoY+5.9%	153M YoY-2.0%	156M YoY-4.0%	162M YoY-2.3%	166M YoY-0.2%
	156M YoY-3.5%	162M YoY+5.9%	153M YoY-2.0%	156M YoY-4.0%	162M YoY-2.3%	166M YoY-0.2%
	157M YoY-3.2%	162M YoY+5.6%	153M YoY-1.9%	156M YoY-3.9%	162M YoY-2.6%	167M YoY-0.1%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21	as ofJan 1 ’21
	674M YoY+0.3%	672M YoY+14.9%	585M YoY+1.3%	578M YoY-47.4%	1.10B YoY+26.4%	869M YoY+50.1%
Depreciation & amortization	128M YoY+6.9%	120M YoY+8.0%	111M YoY+0.2%	111M YoY-11.8%	125M YoY+13.1%	111M YoY-0.1%
Intangible amortization	15.3M YoY-18.6%	18.8M YoY-1.2%	19.0M YoY-1.7%	19.3M YoY-9.9%	21.5M YoY-30.3%	30.8M YoY-23.3%
Share-based compensation	64.0M YoY+6.4%	60.1M YoY+4.2%	57.7M YoY+19.6%	48.2M YoY+5.7%	45.6M YoY+1.6%	44.9M YoY+18.5%
Deferred income taxes	-52.1M YoY-12.3%	-46.4M YoY-23.2%	-37.6M YoY+2.7%	-38.7M YoY-123.6%	-17.3M YoY-10.3%	-15.7M YoY-65.9%
Change in receivables	306M YoY+480.3%	52.7M YoY+174.2%	-71.0M YoY-40.2%	-50.6M YoY-187.6%	57.8M YoY-55.4%	129M YoY+83.8%
Change in inventory	28.4M YoY+426.4%	-8.71M YoY-63.5%	-5.33M YoY-106.6%	80.8M YoY+1344.2%	-6.50M YoY-177.0%	8.44M YoY-69.2%
	-369M YoY+40.8%	-622M YoY-246.4%	-180M YoY-510.6%	43.8M YoY-63.7%	120M YoY+121.1%	-570M YoY-263.7%
Capital expenditure	224M YoY+13.1%	198M YoY+24.1%	160M YoY-2.2%	163M YoY+23.2%	132M YoY-28.4%	185M YoY+37.4%
Free cash flow	450M YoY-5.0%	474M YoY+11.4%	426M YoY+2.6%	415M YoY-57.1%	966M YoY+41.2%	684M YoY+54.0%
Acquisitions	144M	0.00	0.00	0.00 YoY-100.0%	12.0M YoY+8153.7%	-149K YoY-100.2%
Purchases of investments	—	—	—	—	—	900M YoY+35.8%
Sales/maturities of investments	49.0M YoY+27.6%	38.4M YoY-54.9%	85.0M YoY-61.9%	223M YoY-66.2%	660M YoY+37.6%	480M YoY-21.6%
	-562M YoY-123.3%	-252M YoY+49.8%	-502M YoY+43.8%	-893M YoY+11.5%	-1.01B YoY-537.2%	-158M YoY+72.4%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	702M YoY+253.6%	199M YoY-50.0%	397M YoY-47.2%	752M YoY+25.3%	600M YoY+578.2%	88.5M YoY-82.3%
Dividends paid	76.3M YoY-0.1%	76.4M YoY+12.6%	67.9M YoY-2.6%	69.7M YoY+5.7%	66.0M YoY-0.8%	66.5M YoY+8.4%
FX effect on cash	—	—	—	—	-2.06M YoY-213.8%	-658K YoY-15.6%
Net change in cash	-260M YoY-27.1%	-204M YoY-110.1%	-97.2M YoY+63.7%	-267M YoY-228.5%	208M YoY+48.4%	140M YoY+191.7%
Interest paid	3.16M YoY+312.5%	767K YoY+159.1%	296K YoY-80.2%	1.50M YoY-64.6%	4.24M YoY-34.2%	6.43M YoY+7.3%
Income taxes paid	115M YoY-5.2%	121M YoY-13.4%	140M YoY-27.4%	193M YoY+12.3%	172M YoY+61.5%	107M YoY+30.9%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21	as ofJan 1 ’21
Market cap	30.3B YoY+48.8%	20.4B YoY+22.7%	16.6B YoY+21.9%	13.6B YoY-48.8%	26.6B YoY+33.4%	19.9B YoY+74.2%
P/E	54.7× YoY+45.7%	37.5× YoY+14.1%	32.9× YoY+85.6%	17.7× YoY-32.3%	26.2× YoY-6.3%	27.9× YoY+18.8%
P/S	9.5× YoY+31.5%	7.2× YoY+19.2%	6.1× YoY+47.4%	4.1× YoY-42.7%	7.2× YoY+8.7%	6.6× YoY+24.7%
P/B	10.8× YoY+50.1%	7.2× YoY+6.3%	6.8× YoY+12.6%	6.0× YoY-41.8%	10.4× YoY+3.8%	10.0× YoY+29.6%
P/FCF	67.3× YoY+56.6%	43.0× YoY-4.2%	44.8× YoY+87.2%	24.0× YoY-12.9%	27.5× YoY-11.7%	31.1× YoY+16.3%
	1.8% YoY-31.4%	2.7% YoY-12.3%	3.0% YoY-46.1%	5.6% YoY+47.6%	3.8% YoY+6.7%	3.6% YoY-15.8%
	1.5% YoY-36.2%	2.3% YoY+4.4%	2.2% YoY-46.6%	4.2% YoY+14.8%	3.6% YoY+13.2%	3.2% YoY-14.0%
	0.25% YoY-34.9%	0.38% YoY-6.0%	0.41% YoY-19.5%	0.50% YoY+105.9%	0.24% YoY-26.5%	0.33% YoY-38.3%
Source filing	10-K	10-K	10-K	10-K	10-K	10-K

About this data

Source: TER's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TER filings on SEC EDGAR → Not investment advice.