What is the primary revenue source for Teradyne (TER)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze TER's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out Teradyne's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How Teradyne Makes Money: TER Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Steady

Revenue and operating profit grew together, indicating healthy core operations.

The largest revenue segment accounts for 89.39% of revenue, indicating concentration.

Operating margin improved by 19.06 percentage points year over year.

Revenue: USD 2.61B
Largest revenue segment share (Product): 89.39%
Cost of revenue: USD 1.04B
Income tax expense: USD 128.94M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

RevenueTotal revenues · Revenues
Cost of revenueTotal cost of revenues (exclusive of acquired intangible assets amortization shown separately below) · CostOfGoodsAndServicesSold
Income tax expenseIncome tax provision · IncomeTaxExpenseBenefit
Largest revenue segment share (Product)Product · segment_value / revenue * 100
Operating marginOperating income (loss) · operating_income / revenue * 100

Assets

Where is the money tied up, and how is the company financed?

Neutral

Liabilities and shareholder equity jointly fund the asset base, with a broadly stable mix.

Accounts receivable: USD 1.11B
Goodwill: USD 663.82M
Property, plant and equipment: USD 634.84M
Total liabilities: USD 1.45B
Shareholder equity: USD 3.47B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

GoodwillGoodwill · Goodwill
Property, plant and equipmentProperty, plant and equipment, net · PropertyPlantAndEquipmentNet
Shareholder equityEquity, including portion attributable to noncontrolling interest · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilitiesLiabilities · Liabilities
Accounts receivableAccounts receivable, less allowance for credit losses of $2,835 and $2,410 at june 28, 2026 and december 31, 2025, respectively · AccountsReceivableNetCurrent

Cash

Did accounting profit ultimately turn into cash?

Steady

Operating cash flow covers accounting profit, showing good cash conversion.

Operating cash flow equals 94.93% of net income.

Free cash flow remains positive after capital expenditure.

Net income: USD 773.44M
Operating cash flow: USD 734.26M
Cash conversion: 94.93%
Free cash flow: USD 578.82M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeNet income attributable to teradyne · NetIncomeLoss
Free cash flowcfo - capex
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Shareholders

Did the money earned actually make its way back to shareholders?

Steady

Dividends and net buybacks are covered by free cash flow, so cash genuinely reached shareholders.

Cash dividends: USD 40.71M
Share repurchases: USD 74.24M
Net shareholder return: USD 114.95M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Cash dividendsPayments of dividends, total · PaymentsOfDividends · abs(node_value)
Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesRepurchase of common stock · PaymentsForRepurchaseOfCommonStock · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

Please select a report to view

Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?