TER
Teradyne Inc
NASDAQ: TER · TECHNOLOGY · SEMICONDUCTOR EQUIPMENT & MATERIALS
$403.20
+5.72% today
Updated 2026-06-12
Market cap
$64.13B
P/E ratio
75.72
P/S ratio
16.94x
EPS (TTM)
$5.41
Dividend yield
0.12%
52W range
$83 – $422
Volume
3.6M
Teradyne Inc (TER) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed TER price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$403.20
Today
Analyst consensus
$369.53
-8.35% · 12M
2030 Base
$652.39
+61.80% future
NPV today
$350.88
@ 14% WACC
21 analysts:
13 Buy3 Hold0 Sell
Management guidance
Teradyne's Q1 2026 earnings call revealed AI-driven semiconductor test demand is accelerating, with AI-related revenues representing ~70% of Q1 2026 sales. Management has not provided explicit multi-year revenue targets beyond 2026, but guided Q2 2026 revenue sequentially higher after record Q1 2026 results ($1.28B, +87% YoY). The company emphasized AI memory test, advanced interconnect test, and robotics automation as primary growth drivers through the decade.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
TER · Teradyne Inc · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$300.25
NPV today: $161.49
Base case (2030)
$652.39
NPV today: $350.88
Bull case (2030)
$1,180.59
NPV today: $634.97
WallStSmart.com
TER financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $3.2B | $5.1B | $7.2B | $9.5B | $11.8B | $13.8B |
| Revenue growth | 13.1% | 59.9% | 40.2% | 32.5% | 25.0% | 17.0% |
| Net margin | — | 26.1% | 28.1% | 28.5% | 28.5% | 28.5% |
| EPS | $3.89 | $8.50 | $12.80 | $17.20 | $21.50 | $25.10 |
| Diluted shares | — | 157M | 157M | 157M | 157M | 157M |
| Net debt | — | $-589.34M | $-1.45B | $-2.59B | $-4.02B | $-5.69B |
| P/S multiple | — | 7.0x | 7.0x | 7.0x | 7.0x | 7.0x |
| Implied price (base) | — | $231.59 | $328.33 | $438.93 | $552.90 | $652.39 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $13.8B | $13.8B | $13.8B |
| P/S multiple | 3.0x | 7.0x | 13.0x |
| Diluted shares | 157M | 157M | 157M |
| Net debt | $-5.69B | $-5.69B | $-5.69B |
| Implied P/E † | 12x | 26x | 47x |
| 2030 Price | $300.25 | $652.39 | $1,180.59 |
| NPV @ 14% | $161.49 | $350.88 | $634.97 |
† Implied P/E: Multiples remain elevated across all three scenarios because TER is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $652.39 base case
TER catalysts and risks
Growth catalysts
+ Hyperscaler AI capex acceleration (Meta $60B+, Microsoft $80B+ through 2027-2028 expected to drive semiconductor test demand)
+ AI semiconductor memory testing demand scaling with HBM3E/HBM4E production ramps across TSMC, Samsung, SK Hynix
+ Advanced packaging and interconnect test (chiplets, 3D integration) becoming critical node in AI chip manufacturing workflow
+ Teradyne Robotics (Universal Robots) AI automation expansion in manufacturing and logistics, expanding TAM beyond semiconductors
+ TestInsight acquisition (announced April 2026) accelerating time-to-market for AI and data center device test solutions
Key risks
- Macroeconomic slowdown reducing capex spending by hyperscalers and chipmakers in 2028-2030
- Competitive intensity from Lam Research, ASML, and KLA in test and process control segments
- Geopolitical risk: U.S.-China semiconductor restrictions could reduce addressable market if export controls tighten further
- Customer concentration: Teradyne's top 3-5 customers likely represent 30-40%+ of revenues; loss of any major customer creates revenue cliff
- Valuation compression: At 66.3x P/E, multiple compression from 50x to 35x would imply 25-30% downside even with strong revenue growth
Methodology · Teradyne Inc 2030 stock forecast model
Teradyne Inc 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 21 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (1% cumulative for TER by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($-5.69B by 2030) |
| 3. Time value | NPV calculated using 14% WACC (CAPM: beta 1.793) |
| 4. Multiple framework | P/S compresses with scale: bear 3.0x / base 7.0x / bull 13.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 20, 2026.
TER price target FAQ
What is the TER price target for 2030?
WallStSmart's Teradyne Inc 2030 base case is $652.39 per share, with a bull case of $1,180.59 and bear case of $300.25. The NPV of the base case discounted to today at 14% WACC is $350.88.
How is the Teradyne Inc 2030 stock forecast calculated?
The TER 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the TER price target account for dilution?
Teradyne Inc is projected to grow diluted share count from 157M to 157M by 2030 (a 1% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 1%.
What is the analyst consensus on TER stock?
21 analysts cover TER with an average 12-month price target of $369.53. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.