Teradyne, Inc. (TER) Income Statement
TER 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTER revenue and net income
Where TER's revenue goes
2025Each bar shows an amount and its share of revenue. TER kept 17.4% of revenue as net income.
TER profit margins
TER growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +13.1% | +0.4% | +0.4% | +6.9% |
| Gross profit | +12.6% | −0.2% | +0.8% | +7.3% |
| Operating income | +9.5% | −7.9% | −6.9% | +10.3% |
| Net income | +2.2% | −8.2% | −6.7% | +10.4% |
| EPS (diluted) | +23.3% | −2.3% | −2.9% | +12.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TER quarterly EPS vs estimates
Teradyne beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 27, 2026 (estimate $2.04).
TER income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.19B | $2.82B | $2.68B | $3.16B | $3.70B | $3.12B | $2.29B | $2.10B | $2.14B | $1.75B |
| Cost of revenue | $1.33B | $1.17B | $1.14B | $1.29B | $1.50B | $1.34B | $955.1M | $880.4M | $915.2M | $794.6M |
| Gross profit | $1.86B | $1.65B | $1.54B | $1.87B | $2.21B | $1.79B | $1.34B | $1.22B | $1.22B | $958.6M |
| Research & development | $504.6M | $460.9M | $220.5M | $440.6M | $427.6M | $375.0M | $322.8M | $301.5M | $307.3M | $292.2M |
| Sales, general & admin | $648.9M | $617.0M | $278.4M | $558.1M | $547.6M | $464.8M | $437.1M | $390.7M | $348.3M | $315.7M |
| Total operating expenses | $1.21B | $1.06B | $1.04B | $1.04B | $1.01B | $857.3M | $800.1M | $731.4M | $686.7M | $661.4M |
| Operating income | $650.1M | $593.8M | $501.1M | $831.9M | $1.20B | $928.4M | $553.7M | $473.8M | $525.3M | −$63.0M |
| Interest income | $15.7M | $24.8M | $4.7M | $8.4M | $2.6M | $6.0M | $24.8M | $26.7M | $17.8M | $9.3M |
| Interest expense | $6.8M | $3.6M | $24.5M | $3.7M | $17.8M | $24.2M | $22.2M | $21.8M | $21.7M | $3.6M |
| Income before taxes | $633.3M | $601.9M | $525.6M | $840.4M | $1.16B | $901.0M | $525.8M | $467.8M | $524.4M | −$55.1M |
| Income taxes | $79.3M | $59.5M | $65.6M | $124.9M | $146.4M | $116.9M | $58.3M | $16.0M | $266.7M | −$11.6M |
| Net income | $554.0M | $542.4M | $448.8M | $715.5M | $1.01B | $784.1M | $467.5M | $451.8M | $257.7M | −$43.4M |
| EBITDA | $812.0M | $732.4M | $611.8M | $954.8M | $1.30B | $1.05B | $668.7M | $602.8M | $654.1M | $68.6M |
| EPS (diluted) | $3.97 | $3.22 | $2.93 | $4.26 | $5.98 | $4.61 | $2.85 | $2.38 | $2.34 | $1.51 |
| Gross margin | 58.2% | 58.5% | 57.4% | 59.2% | 59.6% | 57.2% | 58.4% | 58.1% | 57.2% | 54.7% |
| Operating margin | 20.4% | 21.1% | 18.7% | 26.4% | 32.4% | 29.7% | 24.1% | 22.6% | 24.6% | −3.6% |
| Net margin | 17.4% | 19.2% | 16.8% | 22.7% | 27.4% | 25.1% | 20.4% | 21.5% | 12.1% | −2.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.33B | $1.28B | $1.08B | $769.2M | $651.8M | $685.7M | $752.9M | $737.3M | $729.9M | $599.8M | $670.6M | $703.7M |
| Cost of revenue | $534.4M | $501.5M | $463.6M | $319.9M | $278.8M | $270.3M | $305.6M | $300.8M | $304.0M | $260.5M | $291.1M | $305.4M |
| Gross profit | $794.6M | $780.9M | $619.7M | $449.3M | $373.0M | $415.3M | $447.3M | $436.5M | $425.8M | $339.3M | $379.5M | $398.3M |
| Research & development | $156.3M | $135.6M | $143.3M | $124.8M | $118.4M | $118.2M | $128.4M | $117.5M | $111.8M | $103.2M | $102.2M | $104.4M |
| Sales, general & admin | $192.5M | $166.7M | $164.7M | $169.1M | $157.8M | $157.3M | $155.7M | $157.6M | $154.5M | $149.2M | $441.7M | $138.3M |
| Total operating expenses | $356.8M | $307.9M | $326.5M | $304.0M | $282.3M | $294.5M | $293.7M | $284.4M | $215.5M | $261.5M | $255.2M | $254.3M |
| Operating income | $437.8M | $473.0M | $293.2M | $145.3M | $90.7M | $120.8M | $153.6M | $152.1M | $210.4M | $77.8M | $124.3M | $144.0M |
| Interest income | $3.2M | $2.4M | $3.1M | $3.2M | $4.4M | $5.1M | $5.1M | $5.1M | $6.7M | $7.9M | $26.0M | $6.9M |
| Interest expense | $3.0M | $3.2M | $3.9M | $2.8M | $805,000 | $795,000 | $589,000 | $808,000 | $1.5M | $661,000 | $812,000 | $963,000 |
| Income before taxes | $443.6M | $465.7M | $286.4M | $142.9M | $96.6M | $113.4M | $151.7M | $157.9M | $219.4M | $72.9M | $139.8M | $144.3M |
| Income taxes | $68.7M | $62.2M | $29.2M | $23.3M | $18.2M | $14.5M | $5.4M | $12.3M | $33.1M | $8.7M | $22.8M | $16.2M |
| Net income | $374.5M | $398.9M | $257.2M | $119.6M | $78.4M | $98.9M | $146.3M | $145.6M | $186.3M | $64.2M | $117.1M | $128.1M |
| EBITDA | $477.0M | $505.7M | $364.6M | $175.9M | $128.8M | $150.1M | $189.5M | $190.1M | $251.1M | $101.7M | $168.6M | $173.4M |
| EPS (diluted) | $2.47 | $2.56 | $1.80 | $0.85 | $0.57 | $0.75 | $0.95 | $0.90 | $0.86 | $0.51 | $0.79 | $0.80 |
| Gross margin | 59.8% | 60.9% | 57.2% | 58.4% | 57.2% | 60.6% | 59.4% | 59.2% | 58.3% | 56.6% | 56.6% | 56.6% |
| Operating margin | 32.9% | 36.9% | 27.1% | 18.9% | 13.9% | 17.6% | 20.4% | 20.6% | 28.8% | 13.0% | 18.5% | 20.5% |
| Net margin | 28.2% | 31.1% | 23.7% | 15.5% | 12.0% | 14.4% | 19.4% | 19.8% | 25.5% | 10.7% | 17.5% | 18.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TER's financial statements (latest annual report filed February 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TER financial results
In fiscal year 2025 (ended December 31, 2025), Teradyne reported revenue of $3.2 billion, up 13.1% from the year before. It had net income of $554.0 million (up 2.2%), a net profit margin of 17.4%. Diluted earnings per share came to $3.97. Over five years revenue grew at an average rate of 0.4% a year.
See the TER stock overview for the latest quote and news, or the TER chart for price history and technical indicators.
TER income statement FAQ
What is Teradyne's annual revenue?
Teradyne reported total revenue of $3.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 13.1% from $2.8 billion the previous year.
Is Teradyne profitable?
Yes. Teradyne reported net income of $554.0 million in fiscal 2025, a net profit margin of 17.4%; its operating margin was 20.4%.
What is Teradyne's gross margin?
Teradyne's gross margin was 58.2% in fiscal 2025: for every $100 of revenue, Teradyne kept $58 after the direct cost of its products and services.
How much does Teradyne spend on research and development?
Teradyne spent $504.6 million on research and development in fiscal 2025, 15.8% of revenue.
How fast is Teradyne growing?
Revenue grew 0.4% a year on average over the last five fiscal years, from $3.1 billion to $3.2 billion.
What are Teradyne's earnings per share?
Teradyne earned $3.97 per diluted share in fiscal 2025, compared with $3.22 a year earlier.
When will Teradyne report its next earnings?
Teradyne is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 after the market closes.
When does Teradyne's fiscal year end?
Teradyne's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 19, 2026.