Teradyne (TER) 10-K Summary — Year Ended Dec 31, 2023
Teradyne filed its annual report for the period ended late 2023. The filing describes a decline in revenue and profitability compared to the prior period.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Teradyne filed its annual report for the period ended late 2023. The filing describes a decline in revenue and profitability compared to the prior period.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$2.7B
Revenue reported for the fiscal year.
Operating income
$501.1M
Income from operations reported for the year.
Net income
$448.8M
Net income reported for the year.
Operating cash flow
$585.2M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $3.7B | n/a |
| Dec 31, 2022 | $3.2B | -14.8% |
| Dec 31, 2023 | $2.7B | -15.2% |
Business overview
Teradyne designs, manufactures, and sells automated test equipment and robotics systems. Its products are used in semiconductor, wireless, and industrial applications. The company operates globally and serves customers in electronics and manufacturing sectors.
Financial performance
Revenue for the reported year decreased compared to the prior year, and operating income and net income also declined. Operating cash flow remained positive but was lower than the previous period.
Material risks
The filing identifies risks related to cyclical demand in the semiconductor industry and global economic conditions. It also notes potential supply chain disruptions and reliance on key customers. Cybersecurity threats are mentioned as a material risk.
Liquidity and capital
The company generated positive operating cash flow, which supports its capital allocation for investments and operations. No specific capital return or financing actions are detailed in the supplied context.
What to watch
Monitor the trend in revenue and operating income in the next filing to assess whether the decline has stabilized or reversed.