TERADYNE, INC（TER）の決算・業績分析
TERADYNE, INCの2025年有価証券報告書をAI分析。売上高$3.2B(+13.1%)。営業利益$650M。Health Care。
目次
TERADYNE, INCの2025年度 業績サマリー
TERADYNE, INC（証券コード: TER）の2025年度決算・業績分析。売上高は$3.2B（前年比+13.1%）。営業利益は$650M（前年比+9.5%）。純利益は$554M（前年比+2.2%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
TERADYNE, INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue declined 14.8% YoY to $3.2B (XBRL), with operating income falling 30.7% to $832M (XBRL).
- Net income dropped 29.5% YoY to $716M (XBRL), but ROE remained strong at 27.9% (XBRL).
- Share repurchases totaled $752M (XBRL), contributing to a 9.7% payout ratio (XBRL).
- Gross margin held steady at 59.2% (XBRL), while cash reserves rose to $758M (XBRL).
- 5-year revenue CAGR of 36.5% (XBRL) contrasts with FY2024's sharp YoY decline.
TERADYNE, INCの売上高変化の要因
- •Total revenue fell 14.8% YoY to $3.2B (XBRL), reversing a 5-year CAGR of +36.5% (XBRL). The historical time series shows revenue peaked at $3.7B in FY2023 before declining to $3.2B in FY2024. Segment-specific revenue breakdowns are not available in the provided data (N/A). The acquisition of 10% of Technoprobe for €483.1M ($524.1M) and sale of DIS business for $85.0M (10-K) likely impacted FY2024 results, though specific impacts are not quantified.
TERADYNE, INCの営業利益変化の要因
- •Gross margin remained stable at 59.2% (XBRL), but operating margin fell 30.7% YoY to 26.4% (XBRL). Net margin declined 29.5% YoY to 22.7% (XBRL). EBITDA grew 29.9% YoY to $943M (XBRL), reflecting cost discipline despite revenue declines. The 5-year operating income CAGR of +1.1% (XBRL) contrasts with FY2024's 30.7% decline.
TERADYNE, INCの事業リスクと対応
N/A: No specific risk factors are detailed in the provided 10-K text (10-K).
N/A: No new risk factors or changes in the risk landscape are explicitly mentioned (10-K).
N/A: No risks are quantified with dollar amounts or probabilities (10-K).
N/A: No regulatory, legal, or geopolitical risks are highlighted (10-K).
N/A: No competitive, technological, or market-related risks are explicitly mentioned (10-K).
TERADYNE, INCの事業内容
Teradyne, Inc. operates in the semiconductor test, robotics, defense/aerospace, and other technology sectors (10-K). The company's business model focuses on high-margin test equipment and automation solutions, with significant R&D investment ($441M, XBRL). While the 10-K references segments like Semiconductor Test and Robotics, numerical segment performance data is not provided in the available data. The company's competitive position is not quantified in the provided materials.
TERADYNE, INCのAI業績分析レポート（2024年度）
Teradyne, Inc. (TER) FY2024 Annual Report Analysis
Highlights
Business Overview
Teradyne, Inc. operates in the semiconductor test, robotics, defense/aerospace, and other technology sectors (10-K). The company's business model focuses on high-margin test equipment and automation solutions, with significant R&D investment ($441M, XBRL). While the 10-K references segments like Semiconductor Test and Robotics, numerical segment performance data is not provided in the available data. The company's competitive position is not quantified in the provided materials.
Revenue Analysis
Total revenue fell 14.8% YoY to $3.2B (XBRL), reversing a 5-year CAGR of +36.5% (XBRL). The historical time series shows revenue peaked at $3.7B in FY2023 before declining to $3.2B in FY2024. Segment-specific revenue breakdowns are not available in the provided data (N/A). The acquisition of 10% of Technoprobe for €483.1M ($524.1M) and sale of DIS business for $85.0M (10-K) likely impacted FY2024 results, though specific impacts are not quantified.
Profitability Analysis
Gross margin remained stable at 59.2% (XBRL), but operating margin fell 30.7% YoY to 26.4% (XBRL). Net margin declined 29.5% YoY to 22.7% (XBRL). EBITDA grew 29.9% YoY to $943M (XBRL), reflecting cost discipline despite revenue declines. The 5-year operating income CAGR of +1.1% (XBRL) contrasts with FY2024's 30.7% decline.
Balance Sheet Analysis
Equity ratio rose to 73.2% (XBRL), with total equity increasing to $2.6B (XBRL) in FY2024. Debt-to-equity ratio remained low at 0.38x (XBRL). Current ratio of 3.28x (XBRL) indicates strong liquidity. Cash reserves grew to $758M (XBRL), though total assets declined slightly to $3.5B (XBRL) from $3.8B in FY2023 (XBRL).
Cash Flow Analysis
Operating cash flow decreased 35.6% YoY to $578M (XBRL), while free cash flow (FCF) of $415M (XBRL) was driven by $163M in CapEx (XBRL). Financing activities included $752M in share repurchases (XBRL) and $70M in dividends (XBRL). Capital expenditures intensity remained at 5.2% (XBRL), with CapEx/D&A ratio of 1.48x (XBRL).
Working Capital Analysis
Cash conversion cycle (CCC) was 86 days (XBRL), with receivables days at 49 days (XBRL), inventory days at 88 days (XBRL), and payables days at 51 days (XBRL). Asset turnover of 0.90x (XBRL) suggests moderate efficiency in asset utilization.
Risks
Outlook
N/A: Management guidance and forward-looking trends are not quantified in the provided data (10-K).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 564M | 2.3B | 3.1B | 3.7B | 3.2B | 2.7B |
| Operating Income | 474M | 554M | 928M | 1.2B | 832M | 501M |
| Net Income | 452M | 467M | 784M | 1.0B | 716M | 449M |
| Total Assets | 2.7B | 2.8B | 3.7B | 3.8B | 3.5B | 3.5B |
| Total Equity | 2.0B | 1.5B | 1.5B | 2.2B | 2.6B | 2.5B |
| Operating Cash Flow | 477M | 579M | 869M | 1.1B | 578M | 585M |
Health Careの企業一覧
TERADYNE, INCと同じ「Health Care」セクターの企業