Teradyne (TER) FY2022 results: revenue $3.2 billion, down 14.8% on the year
Teradyne, Inc. (TER) reported revenue of $3.2 billion for fiscal 2022, the year ended 31 December 2022, down 14.8% on the year before. Net income was $716 million, down 29.5%, and diluted earnings per share $4.22. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2023.
Revenue
$3.2 billion
-14.8% on the year
FY2015FY2022
Operating margin
26.4%
32.4% a year earlier
FY2015FY2022
Net income
$716 million
-29.5% on the year
FY2015FY2022
Diluted EPS
$4.22
-23.7% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
578
1,098
869
-47.4%
Capital expenditure
163
132
185
+23.2%
Free cash flow
415
966
684
-57.1%
Free cash flow margin
13.1%
26.1%
21.9%
Cash from investing
43.8
120
-570
-63.7%
Cash from financing
-893
-1,009
-158
Depreciation and amortisation
111
125
127
-11.8%
Share-based compensation
48.2
45.6
44.9
+5.7%
Buybacks
752
600
88.5
+25.3%
Dividends paid
69.7
66.0
66.5
+5.7%
Dividend per share
$0.44
$0.40
$0.10
+10.0%
Diluted shares, weighted
170m
184m
183m
-7.6%
Shares outstanding at period end
156m
162m
166m
-4.0%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
2,451
2,562
2,207
-4.3%
Debt
50.1
108
410
-53.8%
Operating lease liabilities
64.2
56.2
42.1
+14.2%
Other liabilities
936
1,082
993
-13.6%
Total liabilities and equity
3,501
3,809
3,652
-8.1%
Fixed assets
419
387
395
+8.1%
Goodwill
403
426
454
-5.4%
Intangible assets
53.5
75.6
101
-29.3%
Investments
n/a
n/a
640
Securities held for sale or to maturity
113
339
n/a
-66.7%
Cash and equivalents
855
1,122
914
-23.8%
Receivables
491
551
498
-10.8%
Inventory
325
243
222
+33.6%
Other assets
842
665
429
+26.6%
Total assets
3,501
3,809
3,652
-8.1%
10-K for the year ended 31 December 2022, filed 22 February 2023: the filing.