Teradyne income statement
In fiscal 2025, Teradyne reported revenue of $3.19bn, up 13.1% on the year before, operating income of $650m (a 20.4% margin) and net income of $554m, or $3.47 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 777 | 1,566 | 1,429 | 1,657 | 1,428 | 1,648 | 1,640 | 1,753 | 2,137 | 2,101 | 2,295 | 3,121 | 3,703 | 3,155 | 2,676 | 2,820 | 3,190 | 5,001 |
| Cost of revenue | 478 | 709 | 717 | 771 | 619 | 769 | 724 | 794 | 913 | 880 | 955 | 1,336 | 1,496 | 1,288 | 1,140 | 1,171 | 1,333 | 2,034 |
| Gross profit | 299 | 858 | 712 | 886 | 809 | 879 | 916 | 959 | 1,221 | 1,220 | 1,340 | 1,786 | 2,207 | 1,867 | 1,537 | 1,649 | 1,857 | 2,967 |
| Research and development | 161 | 192 | 201 | 256 | 264 | 292 | 292 | 292 | 307 | 302 | 323 | 375 | 428 | 441 | 418 | 461 | 505 | 598 |
| Selling, general and administrative | 195 | 225 | 232 | 277 | 280 | 320 | 306 | 317 | 349 | 391 | 437 | 465 | 548 | 558 | 577 | 617 | 649 | 723 |
| Operating income | −125 | 415 | 231 | 287 | 191 | 96 | 243 | −63 | 525 | 474 | 554 | 928 | 1,201 | 832 | 501 | 594 | 650 | 1,606 |
| Interest expense | 22 | 24 | 24 | 25 | 26 | 7 | 2 | 4 | 22 | 22 | 22 | 24 | 18 | 4 | 4 | 4 | 7 | 11 |
| Income before tax | −144 | 396 | 214 | 266 | 202 | 95 | 253 | −55 | 524 | 468 | 526 | 901 | 1,161 | 840 | 526 | 609 | 653 | 1,603 |
| Income tax | −9 | 17 | −130 | 49 | 37 | 14 | 47 | −12 | 267 | 16 | 58 | 117 | 146 | 125 | 77 | 60 | 79 | 218 |
| Net income | −134 | 385 | 370 | 217 | 165 | 81 | 206 | −43 | 258 | 452 | 467 | 784 | 1,015 | 716 | 449 | 542 | 554 | 1,373 |
| Diluted EPS | −$0.77 | $1.75 | $1.63 | $0.94 | $0.70 | $0.37 | $0.97 | −$0.21 | $1.28 | $2.35 | $2.60 | $4.28 | $5.53 | $4.22 | $2.73 | $3.32 | $3.47 | $8.71 |
| Diluted shares (average) | 174m | 227m | 227m | 230m | 236m | 223m | 213m | 203m | 202m | 193m | 179m | 183m | 184m | 170m | 164m | 163m | 160m | 158m |
| EBITDA | −20 | 508 | 338 | 433 | 341 | 249 | 384 | 57 | 633 | 587 | 674 | 1,055 | 1,326 | 943 | 612 | 714 | 778 | 1,745 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 753 | 686 | 652 | 769 | 1,083 | 1,282 | 1,329 | 1,306 |
| Cost of revenue | 306 | 270 | 279 | 320 | 464 | 502 | 534 | 535 |
| Gross profit | 447 | 415 | 373 | 449 | 620 | 781 | 795 | 771 |
| Research and development | 128 | 118 | 118 | 125 | 143 | 136 | 156 | 163 |
| Selling, general and administrative | 156 | 157 | 158 | 169 | 165 | 167 | 193 | 199 |
| Operating income | 154 | 121 | 91 | 145 | 293 | 473 | 438 | 402 |
| Interest expense | 1 | 1 | 1 | 1 | 4 | 3 | 3 | 1 |
| Income before tax | 158 | 119 | 97 | 148 | 290 | 466 | 444 | 404 |
| Income tax | 5 | 15 | 12 | 23 | 29 | 62 | 67 | 60 |
| Net income | 146 | 99 | 78 | 120 | 257 | 399 | 375 | 342 |
| Diluted EPS | $0.90 | $0.61 | $0.49 | $0.75 | $1.62 | $2.53 | $2.38 | $2.17 |
| EBITDA | 185 | 151 | 122 | 176 | 329 | 506 | 471 | 439 |
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