Teradyne (TER) FY2021 results: revenue $3.7 billion, up 18.6% on the year
Teradyne, Inc. (TER) reported revenue of $3.7 billion for fiscal 2021, the year ended 31 December 2021, up 18.6% on the year before. Net income was $1.0 billion, up 29.4%, and diluted earnings per share $5.53. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2022.
Revenue
$3.7 billion
+18.6% on the year
FY2014FY2021
Operating margin
32.4%
29.7% a year earlier
FY2014FY2021
Net income
$1.0 billion
+29.4% on the year
FY2014FY2021
Diluted EPS
$5.53
+29.2% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,098
869
579
+26.4%
Capital expenditure
132
185
135
-28.4%
Free cash flow
966
684
444
+41.2%
Free cash flow margin
26.1%
21.9%
19.4%
Cash from investing
120
-570
-157
Cash from financing
-1,009
-158
-574
Depreciation and amortisation
125
127
121
-1.0%
Share-based compensation
45.6
44.9
37.9
+1.6%
Buybacks
600
88.5
500
+578.2%
Dividends paid
66.0
66.5
61.3
-0.8%
Dividend per share
$0.40
$0.10
$0.36
+300.0%
Diluted shares, weighted
184m
183m
179m
+0.3%
Shares outstanding at period end
162m
166m
166m
-2.3%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,562
2,207
1,480
+16.1%
Debt
108
410
395
-73.6%
Operating lease liabilities
56.2
42.1
45.8
+33.5%
Other liabilities
1,082
993
866
+9.0%
Total liabilities and equity
3,809
3,652
2,787
+4.3%
Fixed assets
387
395
320
-1.9%
Goodwill
426
454
416
-6.1%
Intangible assets
75.6
101
125
-25.1%
Investments
n/a
640
242
Securities held for sale or to maturity
339
n/a
n/a
Cash and equivalents
1,122
914
774
+22.8%
Receivables
551
498
362
+10.7%
Inventory
243
222
197
+9.5%
Other assets
665
429
350
+55.2%
Total assets
3,809
3,652
2,787
+4.3%
10-K for the year ended 31 December 2021, filed 23 February 2022: the filing.