Enterprise Value (EV)
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Teradyne Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
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Current Enterprise Value (EV)
Teradyne Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in thousands | |
| Common equity (market value)1 | |
| Total equity | |
| Add: Current debt (per books) | |
| Add: Long-term debt (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Marketable securities | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2023-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Teradyne Inc., EV calculation
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 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Teradyne Inc. Annual Report.
3 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The data exhibits notable fluctuations in the key financial metrics over the five-year period.
- Common Equity (Market Value) and Total Equity
- Both common equity and total equity demonstrate a substantial increase between 2019 and 2020, rising from approximately $10.09 billion to $22.07 billion. However, after this peak in 2020, there is a decline observed over the subsequent years, decreasing to around $18.11 billion in 2021 and further down to about $15.62 billion in 2023. This trend suggests a significant rise in equity values followed by a gradual reduction over the last three years.
- Total Equity and Debt
- The total equity and debt closely mirror the trend seen in total equity alone, with values starting at roughly $10.48 billion in 2019 and peaking at approximately $22.48 billion in 2020. This figure then steadily declines each year, reaching about $15.69 billion by the end of 2023. The parallel movement indicates that the changes in equity are the major driver of changes in the total capital structure, with debt levels relatively stable or less impactful on the total figure.
- Enterprise Value (EV)
- Enterprise value follows a similar pattern, increasing significantly from about $9.57 billion in 2019 to more than $21.04 billion in 2020. Subsequently, EV decreases to around $16.85 billion in 2021 and continues on a downward trajectory to approximately $14.87 billion by 2023. The decline in EV aligns with the reduction in equity-based measures, reflecting a potential decrease in the overall market valuation and operating worth of the company post-2020.
Overall, the financial data reveals a pronounced surge in valuation and equity in 2020, followed by a gradual tapering off throughout the later years. This pattern may indicate a period of rapid growth or market optimism in 2020, succeeded by a normalization or market reassessment resulting in lower valuations and equity levels in the more recent years.