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Teradyne (TER) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Teradyne (TER) Q3 2026 earnings results →
Q3 2026 Revenue up 70% year over year to $1.3B · 26¢ of every $1 of revenue kept as net profit · operating margin 30.8%
Teradyne made $1.3B in Q3 2026 (+70% Y/Y): Product $1.2B, Service $142M. Operating margin 30.8%, net earnings $342M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.
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What changed this quarter
Revenue was $1.3B in Q3 2026, up 70% year over year and down 2% from the previous quarter. Product was the largest line at 89% of revenue. Product added $0.53B year over year (up 84%), 99% of the total change.
Gross margin was 59.1%, up 0.6 points from Q3 2025. Operating profit was $0.40B, a 30.8% margin (up 11.9 points year over year). Of the extra revenue versus Q3 2025, 48% reached operating profit, above the 19% margin then. Operating expenses grew 21% against revenue growth of 70%. The fastest-growing cost line was Research & development (+31%). Net earnings were $0.34B, up 186% year over year. The effective tax rate was 14.7%.
Operating cash flow was $0.31B (up 539% year over year), 90% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.09B. Capital expenditures of $0.09B left free cash flow of $0.23B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 30, 2026 | $1.3B | +70% | 30.8% | $342M | $314M |
| Q2 2026 | 10-Q | Jul 31, 2026 | $1.3B | +104% | 32.9% | $375M | $469M |
| Q1 2026 | 10-Q | May 1, 2026 | $1.3B | +87% | 36.9% | $399M | $265M |
| Q4 2025 | 10-K | Feb 19, 2026 | $1.1B | +44% | 27.1% | $257M | $282M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $769M | +4% | 18.9% | $120M | $49.0M |
| Q2 2025 | 10-Q | Aug 1, 2025 | $652M | -11% | 13.9% | $78.4M | $182M |
| Q1 2025 | 10-Q | May 2, 2025 | $686M | +14% | 17.6% | $98.9M | $162M |
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About Teradyne
Teradyne ( NASDAQ:TER ) designs, develops, and manufactures automated test equipment and advanced robotics systems. Its test solutions for semiconductors and electronics products enable Teradyne's customers to consistently deliver on their quality standards. Its advanced robotics business includes collaborative robots and mobile robots that support manufacturing and warehouse operations for companies of all sizes. For more information, visit teradyne.com . Teradyne ® is a registered trademark of Teradyne, Inc., in the U.S. and other countries.
In its own words, from its 8-K, filed Jul 29, 2026.
Teradyne against its Instruments For Meas & Testing of Electricity & Elec Signals peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +70% against the peers' median +34%. Operating margin: 30.8% against the peers' median 15.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TER Teradyne | Q3 2026 | $1.3B | +70% | 30.8% |
| VLTO Veralto | Q3 2026 | $1.5B | +8% | 19.7% |
| ITRI Itron | Q3 2026 | $599M | +3% | 15.9% |
| COHU Cohu | Q3 2026 | $173M | +37% | 7.4% |
| ALNT Allient | Q3 2026 | $164M | +18% | 13.6% |
| TRNS Transcat | Q2 FY27 | $97.1M | +18% | 5.2% |
| INTT Intest | Q3 2026 | $35.1M | +34% | 7.8% |
| AEHR Aehr Test Systems | Q3 2026 | $33.0M | — | 18.3% |
| FEIM Frequency Electronics | Q1 FY27 | $23.5M | +70% | 22.2% |
Source: Teradyne 10-Q on SEC EDGAR · CIK 97210 · Instruments For Meas & Testing of Electricity & Elec Signals
Guidance and outlook
13F: who owns TER and who is buying
More on TER
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Teradyne guidance history: guided vs reported
- Teradyne gross margin by quarter
- Teradyne operating margin by quarter
- Teradyne net income by quarter
- Teradyne free cash flow by quarter
- Teradyne R&D spending by quarter
- Teradyne capital expenditures by quarter
- Teradyne Product revenue by quarter
- Teradyne Service revenue by quarter