Analysis of Reportable Segments
Teradyne Inc. operates in 4 segments: Semiconductor Test; System Test; Wireless Test; and Robotics.
Segment Profit Margin
Teradyne Inc., profit margin by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Semiconductor Test | 24.93% | 30.50% | 36.97% | 32.74% | 26.86% |
| System Test | 27.82% | 35.56% | 34.86% | 37.12% | 32.54% |
| Wireless Test | 21.19% | 33.13% | 38.52% | 24.25% | 22.62% |
| Robotics | -14.46% | -4.03% | -2.17% | -8.59% | -1.98% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Semiconductor Test | Semiconductor Test segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| System Test | System Test segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Wireless Test | Wireless Test segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Robotics | Robotics segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Semiconductor Test
Teradyne Inc.; Semiconductor Test; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Income (loss) before taxes | 453,320) | 634,488) | 976,988) | 739,695) | 416,973) |
| Revenues | 1,818,636) | 2,080,590) | 2,642,342) | 2,259,597) | 1,552,571) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 24.93% | 30.50% | 36.97% | 32.74% | 26.86% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Income (loss) before taxes ÷ Revenues
= 100 × 453,320 ÷ 1,818,636 = 24.93%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Semiconductor Test | Semiconductor Test segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: System Test
Teradyne Inc.; System Test; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Income (loss) before taxes | 94,073) | 166,879) | 163,064) | 152,092) | 93,543) |
| Revenues | 338,197) | 469,346) | 467,739) | 409,729) | 287,455) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 27.82% | 35.56% | 34.86% | 37.12% | 32.54% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Income (loss) before taxes ÷ Revenues
= 100 × 94,073 ÷ 338,197 = 27.82%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | System Test | System Test segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Profit Margin: Wireless Test
Teradyne Inc.; Wireless Test; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Income (loss) before taxes | 30,568) | 66,820) | 83,543) | 41,950) | 35,585) |
| Revenues | 144,282) | 201,720) | 216,895) | 173,016) | 157,315) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 21.19% | 33.13% | 38.52% | 24.25% | 22.62% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Income (loss) before taxes ÷ Revenues
= 100 × 30,568 ÷ 144,282 = 21.19%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Wireless Test | Wireless Test segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Robotics
Teradyne Inc.; Robotics; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Income (loss) before taxes | (54,251) | (16,244) | (8,167) | (24,019) | (5,916) |
| Revenues | 375,183) | 403,138) | 375,905) | 279,731) | 298,139) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | -14.46% | -4.03% | -2.17% | -8.59% | -1.98% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Income (loss) before taxes ÷ Revenues
= 100 × -54,251 ÷ 375,183 = -14.46%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Robotics | Robotics segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Return on Assets (Segment ROA)
Teradyne Inc., ROA by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Semiconductor Test | 34.10% | 45.89% | 78.44% | 69.11% | 53.13% |
| System Test | 51.66% | 100.57% | 95.38% | 109.98% | 71.17% |
| Wireless Test | 44.76% | 70.86% | 77.71% | 39.47% | 36.57% |
| Robotics | -7.36% | -2.44% | -1.16% | -3.37% | -0.88% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Semiconductor Test | Semiconductor Test segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
| System Test | System Test segment ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Wireless Test | Wireless Test segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Robotics | Robotics segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Semiconductor Test
Teradyne Inc.; Semiconductor Test; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Income (loss) before taxes | 453,320) | 634,488) | 976,988) | 739,695) | 416,973) |
| Total assets | 1,329,522) | 1,382,623) | 1,245,596) | 1,070,378) | 784,808) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 34.10% | 45.89% | 78.44% | 69.11% | 53.13% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Income (loss) before taxes ÷ Total assets
= 100 × 453,320 ÷ 1,329,522 = 34.10%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Semiconductor Test | Semiconductor Test segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: System Test
Teradyne Inc.; System Test; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Income (loss) before taxes | 94,073) | 166,879) | 163,064) | 152,092) | 93,543) |
| Total assets | 182,084) | 165,925) | 170,954) | 138,295) | 131,428) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 51.66% | 100.57% | 95.38% | 109.98% | 71.17% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Income (loss) before taxes ÷ Total assets
= 100 × 94,073 ÷ 182,084 = 51.66%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | System Test | System Test segment ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment ROA: Wireless Test
Teradyne Inc.; Wireless Test; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Income (loss) before taxes | 30,568) | 66,820) | 83,543) | 41,950) | 35,585) |
| Total assets | 68,291) | 94,298) | 107,513) | 106,273) | 97,299) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 44.76% | 70.86% | 77.71% | 39.47% | 36.57% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Income (loss) before taxes ÷ Total assets
= 100 × 30,568 ÷ 68,291 = 44.76%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Wireless Test | Wireless Test segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Robotics
Teradyne Inc.; Robotics; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Income (loss) before taxes | (54,251) | (16,244) | (8,167) | (24,019) | (5,916) |
| Total assets | 737,323) | 665,638) | 701,196) | 712,936) | 671,559) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | -7.36% | -2.44% | -1.16% | -3.37% | -0.88% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Income (loss) before taxes ÷ Total assets
= 100 × -54,251 ÷ 737,323 = -7.36%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Robotics | Robotics segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover
Teradyne Inc., asset turnover by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Semiconductor Test | 1.37 | 1.50 | 2.12 | 2.11 | 1.98 |
| System Test | 1.86 | 2.83 | 2.74 | 2.96 | 2.19 |
| Wireless Test | 2.11 | 2.14 | 2.02 | 1.63 | 1.62 |
| Robotics | 0.51 | 0.61 | 0.54 | 0.39 | 0.44 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Semiconductor Test | Semiconductor Test segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| System Test | System Test segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Wireless Test | Wireless Test segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Robotics | Robotics segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Asset Turnover: Semiconductor Test
Teradyne Inc.; Semiconductor Test; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Revenues | 1,818,636) | 2,080,590) | 2,642,342) | 2,259,597) | 1,552,571) |
| Total assets | 1,329,522) | 1,382,623) | 1,245,596) | 1,070,378) | 784,808) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.37 | 1.50 | 2.12 | 2.11 | 1.98 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 1,818,636 ÷ 1,329,522 = 1.37
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Semiconductor Test | Semiconductor Test segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: System Test
Teradyne Inc.; System Test; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Revenues | 338,197) | 469,346) | 467,739) | 409,729) | 287,455) |
| Total assets | 182,084) | 165,925) | 170,954) | 138,295) | 131,428) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.86 | 2.83 | 2.74 | 2.96 | 2.19 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 338,197 ÷ 182,084 = 1.86
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | System Test | System Test segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Asset Turnover: Wireless Test
Teradyne Inc.; Wireless Test; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Revenues | 144,282) | 201,720) | 216,895) | 173,016) | 157,315) |
| Total assets | 68,291) | 94,298) | 107,513) | 106,273) | 97,299) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 2.11 | 2.14 | 2.02 | 1.63 | 1.62 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 144,282 ÷ 68,291 = 2.11
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Wireless Test | Wireless Test segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Asset Turnover: Robotics
Teradyne Inc.; Robotics; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Revenues | 375,183) | 403,138) | 375,905) | 279,731) | 298,139) |
| Total assets | 737,323) | 665,638) | 701,196) | 712,936) | 671,559) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.51 | 0.61 | 0.54 | 0.39 | 0.44 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 375,183 ÷ 737,323 = 0.51
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Robotics | Robotics segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Capital Expenditures to Depreciation
Teradyne Inc., capital expenditures to depreciation by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Semiconductor Test | 1.46 | 1.66 | 1.52 | 2.59 | 1.89 |
| System Test | 0.96 | 2.25 | 1.24 | 0.90 | 0.55 |
| Wireless Test | 0.46 | 0.67 | 0.52 | 0.79 | 1.93 |
| Robotics | 1.60 | 1.01 | 0.36 | 0.25 | 0.22 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Semiconductor Test | Semiconductor Test segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| System Test | System Test segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Wireless Test | Wireless Test segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Robotics | Robotics segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Semiconductor Test
Teradyne Inc.; Semiconductor Test; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Property additions | 113,415) | 126,898) | 115,618) | 168,055) | 112,145) |
| Depreciation and amortization expense | 77,745) | 76,532) | 75,982) | 64,998) | 59,197) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.46 | 1.66 | 1.52 | 2.59 | 1.89 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Property additions ÷ Depreciation and amortization expense
= 113,415 ÷ 77,745 = 1.46
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Semiconductor Test | Semiconductor Test segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: System Test
Teradyne Inc.; System Test; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Property additions | 3,643) | 7,275) | 3,905) | 3,092) | 3,059) |
| Depreciation and amortization expense | 3,801) | 3,235) | 3,156) | 3,426) | 5,518) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.96 | 2.25 | 1.24 | 0.90 | 0.55 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Property additions ÷ Depreciation and amortization expense
= 3,643 ÷ 3,801 = 0.96
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | System Test | System Test segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Wireless Test
Teradyne Inc.; Wireless Test; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Property additions | 1,845) | 3,364) | 3,128) | 4,931) | 10,362) |
| Depreciation and amortization expense | 4,043) | 4,991) | 6,055) | 6,258) | 5,365) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.46 | 0.67 | 0.52 | 0.79 | 1.93 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Property additions ÷ Depreciation and amortization expense
= 1,845 ÷ 4,043 = 0.46
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Wireless Test | Wireless Test segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Robotics
Teradyne Inc.; Robotics; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Property additions | 40,739) | 25,712) | 9,821) | 8,899) | 9,076) |
| Depreciation and amortization expense | 25,527) | 25,339) | 27,336) | 36,242) | 40,904) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.60 | 1.01 | 0.36 | 0.25 | 0.22 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Property additions ÷ Depreciation and amortization expense
= 40,739 ÷ 25,527 = 1.60
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Robotics | Robotics segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Revenues
Teradyne Inc., revenues by reportable segment
US$ in thousands
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Semiconductor Test | 1,818,636) | 2,080,590) | 2,642,342) | 2,259,597) | 1,552,571) |
| System Test | 338,197) | 469,346) | 467,739) | 409,729) | 287,455) |
| Wireless Test | 144,282) | 201,720) | 216,895) | 173,016) | 157,315) |
| Robotics | 375,183) | 403,138) | 375,905) | 279,731) | 298,139) |
| Corporate and Eliminations | —) | 251) | —) | (604) | (515) |
| Total | 2,676,298) | 3,155,045) | 3,702,881) | 3,121,469) | 2,294,965) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Income (loss) before taxes
Teradyne Inc., income (loss) before taxes by reportable segment
US$ in thousands
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Semiconductor Test | 453,320) | 634,488) | 976,988) | 739,695) | 416,973) |
| System Test | 94,073) | 166,879) | 163,064) | 152,092) | 93,543) |
| Wireless Test | 30,568) | 66,820) | 83,543) | 41,950) | 35,585) |
| Robotics | (54,251) | (16,244) | (8,167) | (24,019) | (5,916) |
| Corporate and Eliminations | 1,862) | (11,558) | (54,473) | (8,703) | (14,413) |
| Total | 525,572) | 840,385) | 1,160,955) | 901,015) | 525,772) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Total assets
Teradyne Inc., total assets by reportable segment
US$ in thousands
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Semiconductor Test | 1,329,522) | 1,382,623) | 1,245,596) | 1,070,378) | 784,808) |
| System Test | 182,084) | 165,925) | 170,954) | 138,295) | 131,428) |
| Wireless Test | 68,291) | 94,298) | 107,513) | 106,273) | 97,299) |
| Robotics | 737,323) | 665,638) | 701,196) | 712,936) | 671,559) |
| Corporate and Eliminations | 1,169,604) | 1,192,768) | 1,584,166) | 1,624,464) | 1,101,920) |
| Total | 3,486,824) | 3,501,252) | 3,809,425) | 3,652,346) | 2,787,014) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Property additions
Teradyne Inc., property additions by reportable segment
US$ in thousands
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Semiconductor Test | 113,415) | 126,898) | 115,618) | 168,055) | 112,145) |
| System Test | 3,643) | 7,275) | 3,905) | 3,092) | 3,059) |
| Wireless Test | 1,845) | 3,364) | 3,128) | 4,931) | 10,362) |
| Robotics | 40,739) | 25,712) | 9,821) | 8,899) | 9,076) |
| Total | 159,642) | 163,249) | 132,472) | 184,977) | 134,642) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Depreciation and amortization expense
Teradyne Inc., depreciation and amortization expense by reportable segment
US$ in thousands
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Semiconductor Test | 77,745) | 76,532) | 75,982) | 64,998) | 59,197) |
| System Test | 3,801) | 3,235) | 3,156) | 3,426) | 5,518) |
| Wireless Test | 4,043) | 4,991) | 6,055) | 6,258) | 5,365) |
| Robotics | 25,527) | 25,339) | 27,336) | 36,242) | 40,904) |
| Corporate and Eliminations | (230) | 578) | 12,956) | 15,819) | 9,671) |
| Total | 110,886) | 110,675) | 125,485) | 126,743) | 120,655) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).