Stock Analysis on Net
Stock Analysis on Net

Teradyne Inc. (NASDAQ:TER)

This company has been moved to the archive! The financial data has not been updated since May 3, 2024.

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

Teradyne Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Mar 31, 2024 16.79% = 12.59% × 1.33
Dec 31, 2023 17.77% = 12.87% × 1.38
Oct 1, 2023 20.64% = 14.95% × 1.38
Jul 2, 2023 22.97% = 16.48% × 1.39
Apr 2, 2023 26.01% = 18.83% × 1.38
Dec 31, 2022 29.19% = 20.44% × 1.43
Oct 2, 2022 34.04% = 23.11% × 1.47
Jul 3, 2022 36.56% = 24.09% × 1.52
Apr 3, 2022 39.24% = 26.90% × 1.46
Dec 31, 2021 39.59% = 26.63% × 1.49
Oct 3, 2021 38.89% = 26.23% × 1.48
Jul 4, 2021 38.22% = 23.82% × 1.60
Apr 4, 2021 34.99% = 21.87% × 1.60
Dec 31, 2020 35.53% = 21.47% × 1.65
Sep 27, 2020 35.76% = 20.74% × 1.72
Jun 28, 2020 35.88% = 19.27% × 1.86
Mar 29, 2020 34.47% = 18.95% × 1.82
Dec 31, 2019 31.58% = 16.77% × 1.88
Sep 29, 2019 — = — × 1.82
Jun 30, 2019 — = — × 1.81
Mar 31, 2019 — = — × 1.78

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

The primary reason for the decrease in return on equity ratio (ROE) over Q1 2024 is the decrease in financial leverage ratio.

Three-Component Disaggregation of ROE

Teradyne Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Mar 31, 2024 16.79% = 16.15% × 0.78 × 1.33
Dec 31, 2023 17.77% = 16.77% × 0.77 × 1.38
Oct 1, 2023 20.64% = 18.41% × 0.81 × 1.38
Jul 2, 2023 22.97% = 19.55% × 0.84 × 1.39
Apr 2, 2023 26.01% = 21.12% × 0.89 × 1.38
Dec 31, 2022 29.19% = 22.68% × 0.90 × 1.43
Oct 2, 2022 34.04% = 23.19% × 1.00 × 1.47
Jul 3, 2022 36.56% = 24.49% × 0.98 × 1.52
Apr 3, 2022 39.24% = 26.41% × 1.02 × 1.46
Dec 31, 2021 39.59% = 27.40% × 0.97 × 1.49
Oct 3, 2021 38.89% = 27.59% × 0.95 × 1.48
Jul 4, 2021 38.22% = 27.65% × 0.86 × 1.60
Apr 4, 2021 34.99% = 25.43% × 0.86 × 1.60
Dec 31, 2020 35.53% = 25.12% × 0.85 × 1.65
Sep 27, 2020 35.76% = 23.63% × 0.88 × 1.72
Jun 28, 2020 35.88% = 22.52% × 0.86 × 1.86
Mar 29, 2020 34.47% = 21.34% × 0.89 × 1.82
Dec 31, 2019 31.58% = 20.37% × 0.82 × 1.88
Sep 29, 2019 — = — × — × 1.82
Jun 30, 2019 — = — × — × 1.81
Mar 31, 2019 — = — × — × 1.78

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

The primary reason for the decrease in return on equity ratio (ROE) over Q1 2024 is the decrease in profitability measured by net profit margin ratio.

Five-Component Disaggregation of ROE

Teradyne Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Mar 31, 2024 16.79% = 0.86 × 0.99 × 18.99% × 0.78 × 1.33
Dec 31, 2023 17.77% = 0.85 × 0.99 × 19.78% × 0.77 × 1.38
Oct 1, 2023 20.64% = 0.87 × 0.99 × 21.37% × 0.81 × 1.38
Jul 2, 2023 22.97% = 0.84 × 0.99 × 23.31% × 0.84 × 1.39
Apr 2, 2023 26.01% = 0.84 × 1.00 × 25.22% × 0.89 × 1.38
Dec 31, 2022 29.19% = 0.85 × 1.00 × 26.75% × 0.90 × 1.43
Oct 2, 2022 34.04% = 0.85 × 0.99 × 27.37% × 1.00 × 1.47
Jul 3, 2022 36.56% = 0.86 × 0.99 × 28.56% × 0.98 × 1.52
Apr 3, 2022 39.24% = 0.87 × 0.99 × 30.74% × 1.02 × 1.46
Dec 31, 2021 39.59% = 0.87 × 0.98 × 31.83% × 0.97 × 1.49
Oct 3, 2021 38.89% = 0.87 × 0.98 × 32.16% × 0.95 × 1.48
Jul 4, 2021 38.22% = 0.87 × 0.98 × 32.47% × 0.86 × 1.60
Apr 4, 2021 34.99% = 0.88 × 0.97 × 29.78% × 0.86 × 1.60
Dec 31, 2020 35.53% = 0.87 × 0.97 × 29.64% × 0.85 × 1.65
Sep 27, 2020 35.76% = 0.86 × 0.97 × 28.20% × 0.88 × 1.72
Jun 28, 2020 35.88% = 0.88 × 0.97 × 26.56% × 0.86 × 1.86
Mar 29, 2020 34.47% = 0.85 × 0.96 × 26.02% × 0.89 × 1.82
Dec 31, 2019 31.58% = 0.89 × 0.96 × 23.92% × 0.82 × 1.88
Sep 29, 2019 — = — × — × — × — × 1.82
Jun 30, 2019 — = — × — × — × — × 1.81
Mar 31, 2019 — = — × — × — × — × 1.78

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

The primary reason for the decrease in return on equity ratio (ROE) over Q1 2024 is the decrease in operating profitability measured by EBIT margin ratio.

Two-Component Disaggregation of ROA

Teradyne Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Mar 31, 2024 12.59% = 16.15% × 0.78
Dec 31, 2023 12.87% = 16.77% × 0.77
Oct 1, 2023 14.95% = 18.41% × 0.81
Jul 2, 2023 16.48% = 19.55% × 0.84
Apr 2, 2023 18.83% = 21.12% × 0.89
Dec 31, 2022 20.44% = 22.68% × 0.90
Oct 2, 2022 23.11% = 23.19% × 1.00
Jul 3, 2022 24.09% = 24.49% × 0.98
Apr 3, 2022 26.90% = 26.41% × 1.02
Dec 31, 2021 26.63% = 27.40% × 0.97
Oct 3, 2021 26.23% = 27.59% × 0.95
Jul 4, 2021 23.82% = 27.65% × 0.86
Apr 4, 2021 21.87% = 25.43% × 0.86
Dec 31, 2020 21.47% = 25.12% × 0.85
Sep 27, 2020 20.74% = 23.63% × 0.88
Jun 28, 2020 19.27% = 22.52% × 0.86
Mar 29, 2020 18.95% = 21.34% × 0.89
Dec 31, 2019 16.77% = 20.37% × 0.82
Sep 29, 2019 — = — × —
Jun 30, 2019 — = — × —
Mar 31, 2019 — = — × —

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

The primary reason for the decrease in return on assets ratio (ROA) over Q1 2024 is the decrease in profitability measured by net profit margin ratio.

Four-Component Disaggregation of ROA

Teradyne Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Mar 31, 2024 12.59% = 0.86 × 0.99 × 18.99% × 0.78
Dec 31, 2023 12.87% = 0.85 × 0.99 × 19.78% × 0.77
Oct 1, 2023 14.95% = 0.87 × 0.99 × 21.37% × 0.81
Jul 2, 2023 16.48% = 0.84 × 0.99 × 23.31% × 0.84
Apr 2, 2023 18.83% = 0.84 × 1.00 × 25.22% × 0.89
Dec 31, 2022 20.44% = 0.85 × 1.00 × 26.75% × 0.90
Oct 2, 2022 23.11% = 0.85 × 0.99 × 27.37% × 1.00
Jul 3, 2022 24.09% = 0.86 × 0.99 × 28.56% × 0.98
Apr 3, 2022 26.90% = 0.87 × 0.99 × 30.74% × 1.02
Dec 31, 2021 26.63% = 0.87 × 0.98 × 31.83% × 0.97
Oct 3, 2021 26.23% = 0.87 × 0.98 × 32.16% × 0.95
Jul 4, 2021 23.82% = 0.87 × 0.98 × 32.47% × 0.86
Apr 4, 2021 21.87% = 0.88 × 0.97 × 29.78% × 0.86
Dec 31, 2020 21.47% = 0.87 × 0.97 × 29.64% × 0.85
Sep 27, 2020 20.74% = 0.86 × 0.97 × 28.20% × 0.88
Jun 28, 2020 19.27% = 0.88 × 0.97 × 26.56% × 0.86
Mar 29, 2020 18.95% = 0.85 × 0.96 × 26.02% × 0.89
Dec 31, 2019 16.77% = 0.89 × 0.96 × 23.92% × 0.82
Sep 29, 2019 — = — × — × — × —
Jun 30, 2019 — = — × — × — × —
Mar 31, 2019 — = — × — × — × —

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

The primary reason for the decrease in return on assets ratio (ROA) over Q1 2024 is the decrease in operating profitability measured by EBIT margin ratio.

Disaggregation of Net Profit Margin

Teradyne Inc., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Mar 31, 2024 16.15% = 0.86 × 0.99 × 18.99%
Dec 31, 2023 16.77% = 0.85 × 0.99 × 19.78%
Oct 1, 2023 18.41% = 0.87 × 0.99 × 21.37%
Jul 2, 2023 19.55% = 0.84 × 0.99 × 23.31%
Apr 2, 2023 21.12% = 0.84 × 1.00 × 25.22%
Dec 31, 2022 22.68% = 0.85 × 1.00 × 26.75%
Oct 2, 2022 23.19% = 0.85 × 0.99 × 27.37%
Jul 3, 2022 24.49% = 0.86 × 0.99 × 28.56%
Apr 3, 2022 26.41% = 0.87 × 0.99 × 30.74%
Dec 31, 2021 27.40% = 0.87 × 0.98 × 31.83%
Oct 3, 2021 27.59% = 0.87 × 0.98 × 32.16%
Jul 4, 2021 27.65% = 0.87 × 0.98 × 32.47%
Apr 4, 2021 25.43% = 0.88 × 0.97 × 29.78%
Dec 31, 2020 25.12% = 0.87 × 0.97 × 29.64%
Sep 27, 2020 23.63% = 0.86 × 0.97 × 28.20%
Jun 28, 2020 22.52% = 0.88 × 0.97 × 26.56%
Mar 29, 2020 21.34% = 0.85 × 0.96 × 26.02%
Dec 31, 2019 20.37% = 0.89 × 0.96 × 23.92%
Sep 29, 2019 — = — × — × —
Jun 30, 2019 — = — × — × —
Mar 31, 2019 — = — × — × —

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

The primary reason for the decrease in net profit margin ratio over Q1 2024 is the decrease in operating profitability measured by EBIT margin ratio.