Filing Flows › Teradyne (TER) › Q3 2026 › vs Q3 2025
Teradyne (TER) Q3 2026 vs Q3 2025 (year over year)
Teradyne's revenue rose $537M (+70%) from $769M in Q3 2025 to $1.3B in Q3 2026. The biggest changes: Product +$532M (+84%); Service +$4.7M (+3%). Gross margin 59.1% against 58.4% (+0.6 pts).
Teradyne, Q3 2026: revenue $1.3B (+70% year over year), operating margin 30.8%, net earnings $342M, operating cash flow $314M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 59.1% | 58.4% | +0.6 pts |
| Operating margin | 30.8% | 18.9% | +11.9 pts |
| Net margin | 26.2% | 15.5% | +10.7 pts |
| Free cash flow margin | 17.4% | 0.3% | +17.1 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Product | $1.2B | $632M | $532M | +84% |
| Service | $142M | $137M | $4.7M | +3% |
| Revenue | $1.3B | $769M | $537M | +70% |
| Gross profit | $771M | $449M | $322M | +72% |
| Cost of revenue | $535M | $320M | $215M | +67% |
| Other income, net | $5.6M | −$2.4M | $8.0M | — |
| Operating profit | $402M | $145M | $257M | +177% |
| Operating expenses | $369M | $304M | $65.3M | +21% |
| Pre-tax earnings | $408M | $143M | $265M | +185% |
| Research & development | $163M | $125M | $38.3M | +31% |
| SG&A | $199M | $169M | $29.8M | +18% |
| Other operating costs | $7.2M | $10.1M | −$2.9M | -28% |
| Net earnings | $342M | $120M | $223M | +186% |
| Minority interests | $5.3M | $0 | $5.3M | — |
| Income tax | $59.8M | $23.3M | $36.5M | +156% |
| Depreciation & amortization | $36.9M | $30.5M | $6.4M | +21% |
| Share-based compensation | $21.7M | $15.5M | $6.2M | +40% |
| Working capital & other | $87.4M | $117M | −$29.2M | -25% |
| Operating cash flow | $314M | $49.0M | $265M | +539% |
| Free cash flow (OCF − capex) | $227M | $2.4M | $225M | 96× |
| Capital expenditures | $86.3M | $46.7M | $39.6M | +85% |
Questions
How much did Teradyne's revenue grow year over year in Q3 2026?
Teradyne's revenue rose $537M (+70%) from $769M in Q3 2025 to $1.3B in Q3 2026.
What drove Teradyne's revenue change in Q3 2026?
Product +$532M (+84%); Service +$4.7M (+3%).