Teradyne (TER) FY2017 results: revenue $2.1 billion, up 21.9% on the year
Teradyne, Inc. (TER) reported revenue of $2.1 billion for fiscal 2017, the year ended 31 December 2017, up 21.9% on the year before. Net income was $258 million, and diluted earnings per share $1.28. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2018.
Revenue
$2.1 billion
+21.9% on the year
FY2010FY2017
Operating margin
24.6%
-3.6% a year earlier
FY2010FY2017
Net income
$258 million
FY2010FY2017
Diluted EPS
$1.28
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
2,137
1,753
1,640
+21.9%
Cost of revenue
913
794
724
+15.0%
Gross profit
1,224
960
916
+27.5%
Gross margin
57.3%
54.7%
55.8%
Research and development
307
292
292
+5.2%
Selling, general and administrative
348
317
306
+10.0%
Operating income
525
-63.0
243
Operating margin
24.6%
-3.6%
14.8%
Interest expense
21.7
3.6
1.9
+495.6%
Pre-tax income
524
-55.1
253
Income tax
267
-11.6
46.6
Effective tax rate
50.9%
n/a
18.4%
Net income
258
-43.4
206
Net margin
12.1%
-2.5%
12.6%
Diluted EPS
$1.28
-$0.21
$0.97
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
626
455
n/a
+37.6%
Capital expenditure
105
85.3
89.9
+23.6%
Free cash flow
521
370
n/a
+40.9%
Free cash flow margin
24.4%
21.1%
n/a
Cash from investing
-263
-640
n/a
Cash from financing
-245
228
n/a
Depreciation and amortisation
108
120
141
-9.9%
Share-based compensation
34.1
30.8
30.5
+10.9%
Buybacks
200
146
300
+36.9%
Dividends paid
55.4
48.6
50.7
+14.0%
Dividend per share
$0.28
$0.24
$0.24
+16.7%
Diluted shares, weighted
202m
203m
213m
-0.5%
Shares outstanding at period end
196m
199m
204m
-1.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,954
1,829
1,966
+6.8%
Debt
366
353
0.0
+3.8%
Other liabilities
790
581
583
+35.9%
Total liabilities and equity
3,110
2,762
2,549
+12.6%
Fixed assets
268
254
273
+5.8%
Goodwill
252
223
488
+12.8%
Intangible assets
79.1
100
240
-21.2%
Investments
1,474
1,305
744
+13.0%
Cash and equivalents
430
308
265
+39.6%
Receivables
273
192
211
+41.7%
Inventory
108
136
154
-20.9%
Other assets
226
244
174
-7.3%
Total assets
3,110
2,762
2,549
+12.6%
10-K for the year ended 31 December 2017, filed 1 March 2018: the filing.