Intrinsic value of Teradyne - TER

Previous Close

$34.84

  Intrinsic Value

$22.32

stock screener

  Rating & Target

sell

-36%

  Value-price divergence*

+136%

Previous close

$34.84

 
Intrinsic value

$22.32

 
Up/down potential

-36%

 
Rating

sell

 
Value-price divergence*

+136%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of TER stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 6.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.89
  6.00
  5.90
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.31
  5.28
  5.25
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.06
  5.06
  5.05
  5.05
Revenue, $m
  1,753
  1,858
  1,968
  2,082
  2,201
  2,326
  2,456
  2,592
  2,734
  2,882
  3,038
  3,200
  3,370
  3,548
  3,735
  3,930
  4,134
  4,349
  4,573
  4,809
  5,056
  5,315
  5,586
  5,871
  6,170
  6,483
  6,812
  7,157
  7,519
  7,899
  8,298
Variable operating expenses, $m
 
  1,582
  1,674
  1,770
  1,870
  1,974
  2,084
  2,198
  2,317
  2,441
  2,572
  2,686
  2,828
  2,978
  3,134
  3,298
  3,470
  3,650
  3,838
  4,036
  4,243
  4,461
  4,689
  4,928
  5,178
  5,441
  5,717
  6,007
  6,311
  6,630
  6,964
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,813
  1,582
  1,674
  1,770
  1,870
  1,974
  2,084
  2,198
  2,317
  2,441
  2,572
  2,686
  2,828
  2,978
  3,134
  3,298
  3,470
  3,650
  3,838
  4,036
  4,243
  4,461
  4,689
  4,928
  5,178
  5,441
  5,717
  6,007
  6,311
  6,630
  6,964
Operating income, $m
  -60
  276
  294
  312
  332
  352
  372
  394
  417
  441
  466
  514
  542
  570
  600
  632
  664
  699
  735
  773
  813
  854
  898
  944
  992
  1,042
  1,095
  1,150
  1,209
  1,270
  1,334
EBITDA, $m
  60
  345
  365
  386
  408
  431
  455
  481
  507
  534
  563
  593
  625
  658
  692
  729
  767
  806
  848
  892
  937
  985
  1,036
  1,089
  1,144
  1,202
  1,263
  1,327
  1,394
  1,465
  1,539
Interest expense (income), $m
  0
  12
  14
  16
  18
  21
  23
  25
  28
  31
  33
  36
  39
  42
  46
  49
  53
  57
  61
  65
  69
  74
  79
  84
  89
  95
  100
  107
  113
  120
  127
Earnings before tax, $m
  -55
  264
  280
  296
  313
  331
  349
  369
  389
  410
  433
  478
  502
  528
  554
  582
  612
  642
  674
  708
  743
  780
  819
  860
  903
  947
  994
  1,044
  1,096
  1,150
  1,207
Tax expense, $m
  -12
  71
  76
  80
  85
  89
  94
  100
  105
  111
  117
  129
  136
  143
  150
  157
  165
  173
  182
  191
  201
  211
  221
  232
  244
  256
  268
  282
  296
  310
  326
Net income, $m
  -43
  193
  204
  216
  229
  242
  255
  269
  284
  300
  316
  349
  367
  385
  405
  425
  446
  469
  492
  517
  543
  570
  598
  628
  659
  692
  726
  762
  800
  839
  881

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,179
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,762
  1,679
  1,778
  1,881
  1,989
  2,101
  2,219
  2,341
  2,470
  2,604
  2,744
  2,891
  3,044
  3,205
  3,374
  3,550
  3,735
  3,928
  4,131
  4,344
  4,567
  4,801
  5,046
  5,304
  5,574
  5,857
  6,154
  6,465
  6,792
  7,136
  7,496
Adjusted assets (=assets-cash), $m
  1,583
  1,679
  1,778
  1,881
  1,989
  2,101
  2,219
  2,341
  2,470
  2,604
  2,744
  2,891
  3,044
  3,205
  3,374
  3,550
  3,735
  3,928
  4,131
  4,344
  4,567
  4,801
  5,046
  5,304
  5,574
  5,857
  6,154
  6,465
  6,792
  7,136
  7,496
Revenue / Adjusted assets
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
  1.107
Average production assets, $m
  434
  459
  486
  514
  544
  575
  607
  640
  675
  712
  750
  790
  832
  876
  922
  971
  1,021
  1,074
  1,130
  1,188
  1,249
  1,313
  1,380
  1,450
  1,524
  1,601
  1,683
  1,768
  1,857
  1,951
  2,050
Working capital, $m
  1,251
  76
  81
  85
  90
  95
  101
  106
  112
  118
  125
  131
  138
  145
  153
  161
  170
  178
  188
  197
  207
  218
  229
  241
  253
  266
  279
  293
  308
  324
  340
Total debt, $m
  353
  409
  467
  528
  591
  658
  727
  799
  875
  954
  1,036
  1,123
  1,213
  1,308
  1,407
  1,511
  1,620
  1,734
  1,853
  1,979
  2,110
  2,248
  2,392
  2,544
  2,703
  2,870
  3,045
  3,228
  3,421
  3,623
  3,835
Total liabilities, $m
  934
  989
  1,047
  1,108
  1,171
  1,238
  1,307
  1,379
  1,455
  1,534
  1,616
  1,703
  1,793
  1,888
  1,987
  2,091
  2,200
  2,314
  2,433
  2,559
  2,690
  2,828
  2,972
  3,124
  3,283
  3,450
  3,625
  3,808
  4,001
  4,203
  4,415
Total equity, $m
  1,829
  690
  731
  773
  817
  864
  912
  962
  1,015
  1,070
  1,128
  1,188
  1,251
  1,317
  1,387
  1,459
  1,535
  1,615
  1,698
  1,785
  1,877
  1,973
  2,074
  2,180
  2,291
  2,407
  2,529
  2,657
  2,792
  2,933
  3,081
Total liabilities and equity, $m
  2,763
  1,679
  1,778
  1,881
  1,988
  2,102
  2,219
  2,341
  2,470
  2,604
  2,744
  2,891
  3,044
  3,205
  3,374
  3,550
  3,735
  3,929
  4,131
  4,344
  4,567
  4,801
  5,046
  5,304
  5,574
  5,857
  6,154
  6,465
  6,793
  7,136
  7,496
Debt-to-equity ratio
  0.193
  0.590
  0.640
  0.680
  0.720
  0.760
  0.800
  0.830
  0.860
  0.890
  0.920
  0.940
  0.970
  0.990
  1.010
  1.040
  1.060
  1.070
  1.090
  1.110
  1.120
  1.140
  1.150
  1.170
  1.180
  1.190
  1.200
  1.210
  1.230
  1.240
  1.240
Adjusted equity ratio
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -43
  193
  204
  216
  229
  242
  255
  269
  284
  300
  316
  349
  367
  385
  405
  425
  446
  469
  492
  517
  543
  570
  598
  628
  659
  692
  726
  762
  800
  839
  881
Depreciation, amort., depletion, $m
  120
  68
  71
  74
  77
  80
  83
  86
  90
  93
  97
  79
  83
  88
  92
  97
  102
  107
  113
  119
  125
  131
  138
  145
  152
  160
  168
  177
  186
  195
  205
Funds from operations, $m
  487
  261
  275
  290
  305
  321
  338
  356
  374
  393
  413
  428
  450
  473
  497
  522
  549
  576
  605
  636
  668
  701
  736
  773
  811
  852
  894
  939
  985
  1,034
  1,086
Change in working capital, $m
  41
  4
  4
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  15
  16
  16
Cash from operations, $m
  446
  257
  271
  285
  300
  316
  333
  350
  368
  387
  407
  421
  443
  466
  489
  514
  540
  567
  596
  626
  657
  690
  725
  761
  799
  839
  881
  925
  971
  1,019
  1,070
Maintenance CAPEX, $m
  0
  -43
  -46
  -49
  -51
  -54
  -57
  -61
  -64
  -68
  -71
  -75
  -79
  -83
  -88
  -92
  -97
  -102
  -107
  -113
  -119
  -125
  -131
  -138
  -145
  -152
  -160
  -168
  -177
  -186
  -195
New CAPEX, $m
  -85
  -25
  -27
  -28
  -29
  -31
  -32
  -34
  -35
  -37
  -38
  -40
  -42
  -44
  -46
  -48
  -51
  -53
  -55
  -58
  -61
  -64
  -67
  -70
  -74
  -77
  -81
  -85
  -89
  -94
  -98
Cash from investing activities, $m
  -640
  -68
  -73
  -77
  -80
  -85
  -89
  -95
  -99
  -105
  -109
  -115
  -121
  -127
  -134
  -140
  -148
  -155
  -162
  -171
  -180
  -189
  -198
  -208
  -219
  -229
  -241
  -253
  -266
  -280
  -293
Free cash flow, $m
  -194
  188
  198
  208
  219
  231
  243
  256
  269
  283
  297
  306
  322
  338
  356
  374
  393
  412
  433
  455
  478
  501
  526
  553
  580
  609
  639
  671
  704
  739
  776
Issuance/(repayment) of debt, $m
  451
  56
  58
  61
  63
  66
  69
  72
  76
  79
  83
  86
  90
  95
  99
  104
  109
  114
  120
  125
  131
  138
  144
  152
  159
  167
  175
  184
  193
  202
  212
Issuance/(repurchase) of shares, $m
  -58
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  287
  56
  58
  61
  63
  66
  69
  72
  76
  79
  83
  86
  90
  95
  99
  104
  109
  114
  120
  125
  131
  138
  144
  152
  159
  167
  175
  184
  193
  202
  212
Total cash flow (excl. dividends), $m
  92
  243
  256
  269
  283
  297
  312
  328
  345
  362
  380
  393
  412
  433
  455
  478
  501
  526
  553
  580
  609
  639
  671
  704
  739
  776
  814
  855
  897
  941
  988
Retained Cash Flow (-), $m
  137
  -40
  -41
  -42
  -44
  -46
  -48
  -50
  -53
  -55
  -58
  -60
  -63
  -66
  -69
  -72
  -76
  -80
  -83
  -87
  -92
  -96
  -101
  -106
  -111
  -116
  -122
  -128
  -134
  -141
  -148
Prev. year cash balance distribution, $m
 
  1,179
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,383
  215
  227
  239
  251
  264
  278
  292
  307
  322
  332
  349
  367
  386
  405
  425
  447
  469
  493
  517
  543
  570
  599
  628
  659
  692
  727
  763
  800
  840
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  1,326
  197
  197
  196
  195
  192
  188
  182
  176
  169
  158
  149
  140
  129
  119
  108
  97
  86
  76
  66
  56
  47
  39
  32
  26
  20
  16
  12
  9
  6
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Teradyne, Inc. designs, develops, manufactures, and sells automatic test equipment worldwide. Its Semiconductor Test segment designs, manufactures, sells, and supports semiconductor test products and services for wafer level and device package testing in automotive, industrial, communications, consumer, computer and electronic game applications, and others. This segment offers FLEX test platform systems; Magnum platform that tests memory devices, such as flash memory and dynamic random access memory; J750 test system to address the highest volume semiconductor devices; and ETS platform for use by semiconductor manufacturers, and assembly and test subcontractors in the low pin count analog/mixed signal discrete markets. It serves integrated device manufacturers (IDMs) that integrate the fabrication of silicon wafers into their business; fabless companies, which outsource the manufacturing of silicon wafers; foundries; and outsourced semiconductor assembly and test providers. The company’s Wireless Test segment designs, develops, and supports wireless test equipment for developing and manufacturing wireless devices, including smart phones, tablets, notebooks, laptops, personal computer peripherals, and other Wi-Fi, Bluetooth, and cellular enabled devices. This segment offers IQxstream solution for testing GSM, EDGE, CDMA2000, TD-SCDMA, WCDMA, HSPA+, LTE-FDD, TD_LTE, and LTE-A technologies for calibration and verification of smartphones, tablets, small cell wireless gateways, and embedded cellular modules; test equipment for connectivity testing; IQfact chipset software; and modular wireless test instruments. The company’s System Test segment offers defense/aerospace test instrumentation and systems; storage test systems; and circuit-board test and inspection systems. Its Industrial Automation segment provides collaborative robots for manufacturing and light industrial customers. The company was founded in 1960 and is headquartered in North Reading, Massachusetts.

FINANCIAL RATIOS  of  Teradyne (TER)

Valuation Ratios
P/E Ratio -161.4
Price to Sales 4
Price to Book 3.8
Price to Tangible Book
Price to Cash Flow 15.6
Price to Free Cash Flow 19.2
Growth Rates
Sales Growth Rate 6.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -5.6%
Cap. Spend. - 3 Yr. Gr. Rate -4.5%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 19.3%
Total Debt to Equity 19.3%
Interest Coverage 0
Management Effectiveness
Return On Assets -1.6%
Ret/ On Assets - 3 Yr. Avg. 3.2%
Return On Total Capital -2.1%
Ret/ On T. Cap. - 3 Yr. Avg. 4%
Return On Equity -2.3%
Return On Equity - 3 Yr. Avg. 4%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 54.8%
Gross Margin - 3 Yr. Avg. 54.7%
EBITDA Margin 3.7%
EBITDA Margin - 3 Yr. Avg. 14.3%
Operating Margin -3.4%
Oper. Margin - 3 Yr. Avg. 5.8%
Pre-Tax Margin -3.1%
Pre-Tax Margin - 3 Yr. Avg. 6%
Net Profit Margin -2.5%
Net Profit Margin - 3 Yr. Avg. 5%
Effective Tax Rate 21.8%
Eff/ Tax Rate - 3 Yr. Avg. 18.4%
Payout Ratio -114%

TER stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TER stock intrinsic value calculation we used $1753 million for the last fiscal year's total revenue generated by Teradyne. The default revenue input number comes from 2016 income statement of Teradyne. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TER stock valuation model: a) initial revenue growth rate of 6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for TER is calculated based on our internal credit rating of Teradyne, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Teradyne.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TER stock the variable cost ratio is equal to 85.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for TER stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Teradyne.

Corporate tax rate of 27% is the nominal tax rate for Teradyne. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TER stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TER are equal to 24.7%.

Life of production assets of 10 years is the average useful life of capital assets used in Teradyne operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TER is equal to 4.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1829 million for Teradyne - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 198.142 million for Teradyne is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Teradyne at the current share price and the inputted number of shares is $6.9 billion.

RELATED COMPANIES Price Int.Val. Rating
XCRA Xcerra 9.42 15.22  str.buy
INTT inTEST 6.85 645.10  str.buy
AEHR Aehr Test Syst 3.37 0.15  str.sell
KEYS Keysight Techn 40.29 35.27  hold
COHU Cohu 17.79 8.38  str.sell
RTEC Rudolph Techno 21.95 10.38  str.sell

COMPANY NEWS

▶ Options say Vulcan Materials & Teradyne may break out   [Aug-14-17 01:39PM  CNBC Videos]
▶ Teradyne, Inc. Value Analysis (NYSE:TER) : July 31, 2017   [Jul-31-17 07:45PM  Capital Cube]
▶ Teradyne tops Street 2Q forecasts   [Jul-26-17 10:56PM  Associated Press]
▶ Teradyne tops Street 2Q forecasts   [05:55PM  Associated Press]
▶ Teradyne to Announce Second Quarter 2017 Results   [Jul-14-17 11:14AM  Business Wire]
▶ IIROC Trade Resumption - TER   [Jul-11-17 08:48AM  CNW Group]
▶ IIROC Trading Halt - TER   [Jul-10-17 03:41PM  PR Newswire]
▶ MKS Instruments Initiated At Buy; Chip Gear Mergers Heat Up   [Jul-06-17 04:28PM  Investor's Business Daily]
▶ What Happened in the Stock Market Today   [Jul-05-17 05:00PM  Motley Fool]
▶ Tesla's Stock Is Only Worth This Much: Goldman   [04:14PM  Investor's Business Daily]
▶ ETFs with exposure to Teradyne, Inc. : July 3, 2017   [Jul-03-17 03:54PM  Capital Cube]
▶ iQ100 up over twenty percent   [Jun-23-17 02:57PM  CNBC Videos]
▶ Marilyn Matz Elected to Teradynes Board of Directors   [Jun-19-17 09:04AM  Business Wire]
▶ ETFs with exposure to Teradyne, Inc. : June 15, 2017   [Jun-15-17 03:26PM  Capital Cube]
▶ ETFs with exposure to Teradyne, Inc. : May 30, 2017   [May-30-17 12:46PM  Capital Cube]
▶ Teradyne Declares Quarterly Cash Dividend   [May-09-17 03:20PM  Business Wire]
▶ Teradyne shares up 11% after earnings beat   [Apr-26-17 05:29PM  MarketWatch]
▶ Teradyne tops Street 1Q forecasts   [05:18PM  Associated Press]
▶ Teradyne to Announce First Quarter 2017 Results   [Apr-13-17 12:40PM  Business Wire]
▶ ETFs with exposure to Teradyne, Inc. : April 7, 2017   [Apr-07-17 05:35PM  Capital Cube]
▶ Citigroup, Wells Fargo Upgraded; Tenet A Buy; Teradyne PT Hiked   [Apr-05-17 04:20PM  Investor's Business Daily]
▶ Teradyne CEO on man vs. machine   [Apr-03-17 02:33PM  CNBC Videos]
▶ ETFs with exposure to Teradyne, Inc. : March 27, 2017   [Mar-27-17 04:07PM  Capital Cube]
▶ As Chip Gear Makers Hit New Highs, Analyst Sees A Pullback   [Mar-14-17 04:05PM  Investor's Business Daily]
▶ Top Ranked Growth Stocks to Buy for March 3rd   [Mar-03-17 09:35AM  Zacks]
Financial statements of TER
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.