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.

Enterprise Value to EBITDA (EV/EBITDA) 

Microsoft Excel

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Teradyne Inc., EBITDA calculation

US$ in thousands

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income 448,752 715,501 1,014,589 784,147 467,468
Add: Income tax expense 76,820 124,884 146,366 116,868 58,304
Earnings before tax (EBT) 525,572 840,385 1,160,955 901,015 525,772
Add: Interest expense 3,806 3,719 17,820 24,182 23,145
Earnings before interest and tax (EBIT) 529,378 844,104 1,178,775 925,197 548,917
Add: Depreciation 92,118 90,763 91,073 80,119 70,834
Add: Amortization 18,768 19,912 34,412 46,624 49,821
Earnings before interest, tax, depreciation and amortization (EBITDA) 640,264 954,779 1,304,260 1,051,940 669,572

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).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Teradyne Inc. EBITDA decreased from 2021 to 2022 and from 2022 to 2023.

Enterprise Value to EBITDA Ratio, Current

Teradyne Inc., current EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in thousands)
Enterprise value (EV) 17,982,391
Earnings before interest, tax, depreciation and amortization (EBITDA) 640,264
Valuation Ratio
EV/EBITDA 28.09
Benchmarks
EV/EBITDA, Competitors1
Advanced Micro Devices Inc. 46.75
Analog Devices Inc. 26.24
Applied Materials Inc. 14.78
Broadcom Inc. 45.78
First Solar Inc. 14.85
Intel Corp. 10.03
KLA Corp. 22.11
Lam Research Corp. 18.66
Micron Technology Inc. 11.04
Monolithic Power Systems Inc. 50.91
NVIDIA Corp. 92.25
Qualcomm Inc. 13.44
Texas Instruments Inc. 19.22
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment 62.10
EV/EBITDA, Industry
Information Technology 37.83

Based on: 10-K (reporting date: 2023-12-31).

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Enterprise Value to EBITDA Ratio, Historical

Teradyne Inc., historical EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Enterprise value (EV)1 14,867,976 14,880,674 16,854,745 21,042,431 9,572,254
Earnings before interest, tax, depreciation and amortization (EBITDA)2 640,264 954,779 1,304,260 1,051,940 669,572
Valuation Ratio
EV/EBITDA3 23.22 15.59 12.92 20.00 14.30
Benchmarks
EV/EBITDA, Competitors4
Advanced Micro Devices Inc. 65.81 22.63 34.19 62.10 82.59
Analog Devices Inc. 15.56 16.23 38.55 23.61 18.67
Applied Materials Inc. 15.75 11.04 17.54 16.82 14.60
Broadcom Inc. 26.42 13.54 19.72 18.89 16.32
First Solar Inc. 11.52 53.82 7.64 12.99 32.49
Intel Corp. 18.96 6.20 6.02 6.40 8.73
KLA Corp. 15.67 14.97 19.26 18.10 14.14
Lam Research Corp. 15.36 11.36 16.94 18.35 10.69
Micron Technology Inc. 32.38 3.26 6.05 6.46 3.90
Monolithic Power Systems Inc. 62.08 39.34 68.91 90.99 51.73
NVIDIA Corp. 95.69 57.58 58.98 52.92 21.08
Qualcomm Inc. 12.82 7.84 12.76 19.49 10.55
Texas Instruments Inc. 16.36 14.69 15.54 21.75 17.73
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment 26.57 14.71 15.61 14.87 11.67
EV/EBITDA, Industry
Information Technology 23.81 18.66 20.75 19.96 14.60

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 See details »

2 See details »

3 2023 Calculation
EV/EBITDA = EV ÷ EBITDA
= 14,867,976 ÷ 640,264 = 23.22

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. Teradyne Inc. EV/EBITDA ratio increased from 2021 to 2022 and from 2022 to 2023.