TERADYNE, INC

Listed Company

TERCIK 0000097210NasdaqLarge AcceleratedInstruments For Meas & Testing Of Electricity & Elec SignalsMassachusettsFY ends Dec 31

Period

FY 2025

Revenue

$3.19B

Net Income

$554.05M

Total Assets

$4.18B

Equity

$2.80B

Shares Out

156.56M

Op. Cash Flow

$674.41M

Business

TERADYNE, INC designs, develops, manufactures and sells automated test equipment and robotics solutions for global industrial and electronics markets. It offers semiconductor test systems, robotics products (collaborative robotic arms and autonomous mobile robots), defense/aerospace test instrumentation, production board test and wireless test systems, plus related services and software. The company operates through reportable segments including Semiconductor Test, Robotics (Universal Robots and Mobile Industrial Robots), System Test (Defense/Aerospace and Production Board Test) and Wireless Test. It sells worldwide through a direct sales force and distributors/OEM partners, with manufacturing via internal facilities and subcontractors.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	3,190	2,820	2,676	3,155	3,703
Total cost of revenues (exclusive of acquired intangible assets amortization shown separately below)	1,333	1,171	1,140	1,288	1,496
Gross profit	1,857	1,649	1,537	1,867	2,207
Selling and administrative	649	617	577	558	548
Engineering and development	505	461	418	441	428
Acquired intangible assets amortization	15	19	19	19	22
Restructuring and other	39	16	21	17	9
Gain on sale of business	0	−57	0	0	—
Total operating expenses	1,207	1,055	1,036	1,035	1,006
Income from operations	650	594	501	832	1,201
Interest income	−16	−25	−27	−6	−3
Interest expense	7	4	4	4	18
Other (income) expense, net	6	6	−962,000	−6	25
Income before income taxes and equity in net earnings of affiliate	653	609	526	840	—
Income tax provision	79	60	77	125	146
Income before equity in net earnings of affiliate	574	550	449	716	—
Equity in net earnings of affiliate	−20	−7	0	0	—
Net income	554	542	449	716	1,015
Basic	3.48	3.41	2.91	4.52	6.15
Diluted	3.47	3.32	2.73	4.22	5.53
Weighted average common sharesbasic	159	159	154	158	165
Weighted average common sharesdiluted	160	163	164	170	184

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-05-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	294	553	—	758	855
Marketable securities	28	46	—	62	40
Accounts receivable, less allowance for credit losses of $2,410 and $2,111 at December 31, 2025 and December 31, 2024, respectively	787	471	—	422	491
Inventories, net	380	298	—	310	325
Prepayments	428	429	—	549	533
Other current assets	33	18	—	38	14
Total current assets	1,949	1,816	—	2,162	2,258
Property, plant and equipment, net	563	508	—	445	419
Operating lease right-of-use assets, net	77	70	—	73	74
Marketable securities	126	124	—	117	111
Deferred tax assets	275	222	—	176	143
Retirement plans assets	12	12	—	12	12
Equity method investment	537	495	524	0	—
Other assets	72	50	—	39	29
Acquired intangible assets, net	51	16	—	35	53
Goodwill	521	395	—	416	403
Total assets	4,184	3,709	—	3,487	3,501
Accounts payable	269	135	—	180	140
Accrued employees' compensation and withholdings	255	205	—	192	212
Deferred revenue and customer advances	153	108	—	100	148
Other accrued liabilities	112	91	—	115	112
Operating lease liabilities	19	19	—	18	19
Short-term debt	200	—	—	—	—
Income taxes payable	107	68	—	49	65
Total current liabilities	1,115	625	—	660	746
Retirement plans liabilities	145	133	—	132	116
Long-term deferred revenue and customer advances	51	41	—	37	45
Deferred tax liabilities	5	1	—	183,000	3
Long-term other accrued liabilities	8	7	—	20	16
Long-term operating lease liabilities	64	58	—	65	64
Long-term income taxes payable	0	25	—	44	59
Total liabilities	1,388	889	—	961	1,050
Commitments and contingencies (Note O)	—	—	—	—	—
Common stock,$0.125 par value,1,000,000 shares authorized; 156,088 and 161,722 shares issued and outstanding at December 31,2025, and December 31, 2024, respectively	20	20	—	19	19
Additional paid-in capital	1,990	1,910	—	1,827	1,756
Accumulated other comprehensive loss	42	−81	—	−27	−50
Retained earnings	744	971	—	707	726
Total shareholders' equity	2,796	2,819	—	2,526	2,451
Total liabilities and shareholders' equity	4,184	3,709	—	3,487	3,501

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	554	542	449	716	1,015
Depreciation	111	101	92	91	91
Stock-based compensation	64	60	58	48	46
Losses (gains) on investments	−5	10	−15	10	−6
Provision for excess and obsolete inventory	26	19	28	31	15
Amortization	17	19	19	20	34
Deferred taxes	−52	−46	−38	−39	−17
Retirement plan actuarial losses (gains)	683,000	−4	3	−26	−2
Other	12	−2	−955,000	2	271,000
Accounts receivable	−306	−53	71	51	−58
Inventories	−28	9	5	−81	6
Prepayments and other assets	−7	119	−43	−141	−176
Accounts payable and other liabilities	209	−54	47	−61	129
Deferred revenue and customer advances	53	12	−57	−6	10
Retirement plans contributions	−8	−6	−5	−5	−5
Income taxes	15	−4	−27	−30	−6
Net cash provided by operating activities	674	672	585	578	1,098
Purchases of property, plant and equipment	−224	−198	−160	−163	−132
Acquisition of businesses, net of cash and cash equivalents acquired	−144	0	0	0	−12
Purchase of investment in a business	−26	−532	0	0	—
Purchases of marketable securities	−33	−46	−162	−287	−662
Issuance of convertible loan	0	0	−5	0	0
Proceeds from the sale of a business, net of cash and cash equivalents sold	0	90	0	0	—
Proceeds from maturities of marketable securities	49	38	85	223	660
Proceeds from sales of marketable securities	9	24	61	268	266
Proceeds from insurance	0	873,000	460,000	0	0
Net cash used for investing activities	−369	−622	−180	44	120
Proceeds from borrowings on revolving credit facility	250	185	0	0	—
Repayments of borrowings on revolving credit facility	−50	−185	0	0	—
Dividend payments	−76	−76	−68	−70	−66
Repurchase of common stock	−702	−199	−397	−752	−600
Payments related to net settlement of employee stock compensation awards	−16	−14	−21	−33	−32
Payments of convertible debt principal	0	0	−50	−67	−343
Issuance of common stock under stock purchase and stock option plans	32	37	34	29	33
Net cash used for financing activities	−562	−252	−502	−893	−1,009
Effects of exchange rate changes on cash and cash equivalents	−3	−2	−876,000	4	−2
Decrease increase in cash and cash equivalents	−260	−204	−97	−267	208
Interest	3	767,000	296,000	1	4
Capital expenditures incurred but not yet paid:	3	4	3	2	2

Filings

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