Teradyne Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Teradyne Inc (TER) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Teradyne Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 4,464M vs 35,946M combined for tracked competitors (11.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+19.1% annualized vs trailing 12 months), vs accelerating (+7.1%) for its tracked peer group.
- Growth: Teradyne Inc generated 103.9% revenue growth year over year in Q2 2026, vs 16.7% for its tracked competitors combined.
- Profitability: Its 28.2% net margin compares with 23.4% for the peer group.
- Scale: Teradyne Inc ranks #4 of 71 companies by market capitalization in the IT Infrastructure industry, holding 7.2% of industry market cap.
- Peer revenue share: Teradyne Inc accounted for 12.1% of combined revenue among its tracked peer group, up from 7.3% a year earlier.
- Peer differentiation: Revenue per employee of $0.68M compares with $2.06M for the peer group (0.3x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
TER Sales vs. its Competitors, Q2 2026
Teradyne Inc reported revenue growth of 103.90 % year on year in Q2 2026, above its competitors' combined revenue growth of 16.72 %.
With a net margin of 28.21 %, Teradyne Inc achieved higher profitability than its competitors (23.37 %).
Teradyne Inc generated 12.13 % of the combined sales of its peer group, up from 7.33 % a year earlier.
Teradyne Inc vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Teradyne Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Teradyne Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (3) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (6) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Teradyne Inc's competitor groups requires a Commercial License.
For context: the IT Infrastructure industry grew revenue 21.0% year over year, combined, vs 103.9% for Teradyne Inc. Teradyne Inc's share of combined industry revenue moved from 1.20% to 2.01%, a gain of 0.82 percentage points.
Teradyne Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Teradyne Inc | Yes | Yes | Yes | No |
| Competitors combined (17) | ||||
| High-Confidence Competitors (4) | ||||
| Similar-Size Competitors (8) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
TER Stock Performance relative to its Competitors
TER Stock Performance relative to High-Confidence Competitors
TER Stock Performance relative to Similar-Size Competitors
TER Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Ase Technology Holding Co Ltd | 282.9% | Outperformed |
| 2 | Formfactor inc | 282.9% | Outperformed |
| 3 | Skywater Technology Inc | 282.9% | Outperformed |
| 4 | Viavi Solutions Inc | 282.9% | Outperformed |
| 5 | Aehr Test Systems | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Teradyne Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Teradyne Inc's Comment on Competition and Industry Peers
Competitors in our Wireless Test segment include, among others, Agilent Technologies, Inc., Aeroflex, Inc., Anritsu Company, National Instruments Corporation and Rohde & Schwarz GmbH & Co. KG.
Some of our competitors have substantially greater financial and other resources to pursue engineering, manufacturing, marketing and distribution of their products. In particular, our largest competitor in the Semiconductor Test segment spends considerably more than us on research and development which may provide it with a competitive advantage. We also face competition from emerging Asian equipment companies and from internal suppliers at several of our customers. Some of our competitors have introduced or announced new products with certain performance characteristics which may be considered equal or superior to those we currently offer.
Publicly Traded Peers of Teradyne Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Teradyne Inc | 63,553.43 | 4,464.03 |
| Taiwan Semiconductor Manufacturing Company Limited | 2,369,745.67 | 121,423.20 |
| Kla Corporation | 259,347.47 | 13,579.48 |
| Ase Technology Holding Co Ltd | 100,351.52 | 20,573.41 |
| Agilent Technologies inc | 49,533.49 | 7,372.00 |
| Tower Semiconductor Ltd | 26,630.54 | 1,566.10 |
| SUBTOTAL | 2,950,505.35 | 406,856.51 |
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Sources: Teradyne Inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Teradyne Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Teradyne Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Keysight Technologies inc | Named by the company | 85% |
| Seagate Technology plc | Named by the company | 85% |
| Credence Corporation | Named by the company | 85% |
| Schwarz GmbH | Named by the company | 85% |
| Anritsu Company | Named by the company | 85% |
| Agilent Technologies | Named by the company | 85% |
| Advantest Corporation | Named by the company | 85% |
| Advantest Corporation | Named by the company | 85% |
| National Instruments Corporation | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Teradyne Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Teradyne Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Teradyne Inc | Semiconductor Test 84.41 % |
| Kla Corporation | Semiconductor Process Control 90.30 % |
| Agilent Technologies inc | Agilent CrossLab 41.36 % |
| Dover Corp | Clean Energy & Fueling 27.17 % |
| Formfactor inc | Probe Cards 81.20 % |
| Viavi Solutions Inc | Network and Service Enablement 79.17 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Teradyne Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Teradyne Inc | 63,553 | 676,368 | 174,329 |
| Taiwan Semiconductor Manufacturing Company Limited | 2,369,746 | 1,713,299 | 762,463 |
| Kla Corporation | 259,347 | 798,793 | 284,163 |
| Ase Technology Holding Co Ltd | 100,352 | 1,442,938 | 92,106 |
| Agilent Technologies inc | 49,533 | 407,293 | 79,558 |
| Tower Semiconductor Ltd | 26,631 | 498,759 | 69,686 |
| PEERS TOTAL | 2,886,952 | 2,062,705 | 325,855 |
Teradyne Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Teradyne Inc | Asia Pacific 87.20 % |
| Kla Corporation | Taiwan 25.45 % |
| Agilent Technologies inc | Americas 41.63 % |
| Dover Corp | United States 55.59 % |
| Formfactor inc | Europe 3.67 % |
| Viavi Solutions Inc | United States 37.92 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Teradyne Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 66 companies in Teradyne Inc's industry classification, broader than the peer set above. Market cap in millions of $.Teradyne Inc ranks #4 of 66 companies by market capitalization in its industry, holding 7.21 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,231, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Amphenol Corporation | 219,718 | 24.45 % |
| 2 | Danaher Corporation | 160,413 | 17.85 % |
| 3 | Vertiv Holdings Co | 99,263 | 11.05 % |
| 4 | Teradyne Inc | 64,755 | 7.21 % |
| 5 | Keysight Technologies inc | 1,234 | 5.2% |
| 6 | Ametek Inc | 1,234 | 5.2% |
| 7 | Roper Technologies Inc | 1,234 | 5.2% |
| 8 | Hubbell Inc | 1,234 | 5.2% |
| 9 | Veralto Corporation | 1,234 | 5.2% |
| 10 | Mks Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Teradyne Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-29.
Teradyne Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Amphenol Corporation | 219,718 | -30.49 % |
| 2 | Danaher Corporation | 160,413 | 22.65 % |
| 3 | Vertiv Holdings Co | 99,263 | 82.33 % |
| 4 | Teradyne Inc | 64,755 | 203.48 % |
| 5 | Keysight Technologies inc | 1,234 | 12.3% |
| 6 | Ametek Inc | 1,234 | 12.3% |
| 7 | Roper Technologies Inc | 1,234 | 12.3% |
| 8 | Hubbell Inc | 1,234 | 12.3% |
| 9 | Veralto Corporation | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Teradyne Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-29. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Teradyne Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the IT Infrastructure industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (79 companies). See the full IT Infrastructure industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 59.24 % | 39.24 % (avg) | +20.0 pp |
| Operating Margin | 30.23 % | industry median | +26.8 pp |
| EBITDA Margin | 33.50 % | 5.24 % (avg) | +28.3 pp |
| Capital Intensity (Capex / Revenue) | 5.94 % | 3.72 % (avg) | +2.2 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Teradyne Inc's Valuation vs Competitive Position
Valuation multiples vs the IT Infrastructure industry average (79 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full IT Infrastructure industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 51.6x | 39.9x | +11.6x |
| EV / EBITDA | 39.4x | 20.9x | +18.4x |
| P/B | 19.5x | 4.7x | +14.8x |
| Return on Equity | 37.94 % | industry aggregate | 24.29 % |
| Return on Invested Capital | 21.02 % | -0.81 % (avg) | 21.83 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Teradyne Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | -1.68 % | 9.24 % | 36.01 % | 18.63 % | -14.79 % | -15.17 % | 5.36 % | 13.13 % |
| Operating Margin | 22.55 % | 24.12 % | 29.74 % | 32.43 % | 26.37 % | 18.72 % | 21.34 % | 20.38 % |
| Return on Invested Capital | 11.44 % | 15.02 % | 20.49 % | 21.85 % | 16.29 % | 9.59 % | 10.41 % | 10.81 % |
| P/E | 14.2x | 25.6x | 27.4x | 27.5x | 21.5x | 36.0x | 36.1x | 57.8x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Teradyne Inc's Strategic Group Map
Every company in Teradyne Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Teradyne Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Teradyne Inc's BCG Growth-Share Matrix
Relative market share (vs Teradyne Inc's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Teradyne Inc falls in the Dog quadrant: relative market share of 0.29x vs its largest competitor, in an industry growing revenue 8.6% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Teradyne Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,231 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 5.94 % vs industry average 3.72 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Teradyne Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Teradyne Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Teradyne Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Teradyne Inc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Teradyne Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 26.8 points above the industry median.
- Return on equity 24.3 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+19.1% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Low relative market share vs the industry leader (0.29x).
Opportunities
No rule matched.
Threats
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Teradyne Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Teradyne Inc | 0.27 | 1.94 | 0.03 |
| Taiwan Semiconductor Manufacturing Company Limited | 1.82 | 2.51 | 0.02 |
| Kla Corporation | 0.46 | 2.80 | 1.08 |
| Ase Technology Holding Co Ltd | 0.37 | 1.26 | 0.11 |
| Agilent Technologies inc | 0.77 | 2.02 | 1.02 |
| Tower Semiconductor Ltd | 0.89 | 6.48 | 0.06 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Teradyne Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Teradyne Inc | Q2 2026 | +103.9 % | +378.3 % |
| Taiwan Semiconductor Manufacturing Company Limited | Q4 2025 | +37.6 % | +53.1 % |
| Kla Corporation | Q2 2026 | +15.2 % | +13.3 % |
| Ase Technology Holding Co Ltd | Q4 2025 | +13.3 % | +27.3 % |
| Agilent Technologies inc | Q2 2026 | +8.1 % | +7.7 % |
| Tower Semiconductor Ltd | Q4 2025 | +9.1 % | +5.6 % |
| PEERS TOTAL | +23.2 % | +50.8 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Teradyne Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Teradyne Inc | Q2 2026 | +91.7 % | +79.9 % |
| Taiwan Semiconductor Manufacturing Company Limited | Q4 2025 | +25.7 % | +39.1 % |
| Kla Corporation | Q2 2026 | +17.0 % | -11.1 % |
| Ase Technology Holding Co Ltd | Q4 2025 | +11.4 % | +129.4 % |
| Agilent Technologies inc | Q2 2026 | -1.6 % | -22.3 % |
| Tower Semiconductor Ltd | Q4 2025 | +9.6 % | - |
Teradyne Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Teradyne Inc | 26.29% | 33.96% | 37.94% |
| Taiwan Semiconductor Manufacturing Company Limited | 21.37% | 26.29% | 31.41% |
| Kla Corporation | 28.75% | 37.03% | 88.40% |
| Ase Technology Holding Co Ltd | 4.63% | 6.38% | 11.18% |
| Agilent Technologies inc | 10.97% | 19.84% | 41.99% |
| Tower Semiconductor Ltd | 6.59% | 7.00% | 7.50% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Teradyne Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Teradyne Inc | 55.44 | 14.24 |
| Taiwan Semiconductor Manufacturing Company Limited | 85.41 | 19.52 |
| Kla Corporation | 7.20 | 19.10 |
| Ase Technology Holding Co Ltd | 78.66 | 4.88 |
| Agilent Technologies inc | 34.52 | 6.72 |
| Tower Semiconductor Ltd | 120.84 | 17.00 |
| PEERS AVERAGE | 45.59 | 7.25 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.