--- canonical_url: https://www.stockexpertai.com/earnings/ter last_updated: 2026-05-09T17:09:08.020Z --- # Teradyne, Inc. (TER) Q1 FY2027 Earnings Preview > This content was automatically generated with FMP live data + Q1 FY2026 earnings call transcript. Generated: 2026-05-09T17:09:07.558Z. Educational tool, not investment advice. --- ## Quick Summary | Field | Value | Source | |---|---|---| | Price | $359.77 (▲ 1.60%) | fmp:quote | | Market Cap | $56.3B | fmp:profile | | 52w range | $75.99 – $422.11 | fmp:quote | | Earnings | Tue 4 Aug | fmp:earnings-history | | EPS estimate | $2.05 (+260% YoY) | fmp:earnings-estimate | | Revenue estimate | $1.2B | fmp:earnings-estimate | | Beat streak | 8/4 | fmp:earnings-history | | Rating | A- (overall 4/5) | fmp:ratings | | Analyst median target | $370 (+2.8% upside) | fmp:price-target-consensus | | MoonshotScore | 71/100 | derived | | Council | 3/6 bullish | derived | | Munger verdict | Fairly Valued | derived | ## Teradyne, Inc. — Q1 FY2027 Expectations Q1 consensus: revenue $1.2B^{[FMP est]}, EPS $2.05^{[FMP est]}. 8 consecutive quarters of beat^{[FMP earnings]}. ## Quick Take **Score:** A- · **Stance:** HOLD · **Council:** 3/6 · **Moonshot:** 71 = MoonshotScore 71^{[9-pillar formula]} + Council 3/6^{[6-lens rule]}. Form 4: 0 transactions^{[FMP Form 4]}. ## Watchlist (6 metrics) ### 1. Robotics Growth Robotics delivered its fourth consecutive quarter of sequential growth, with strong customer engagement across e-commerce, electronics manufacturing, and semiconductor end markets. > "In Robotics, we delivered our fourth consecutive quarter of sequential growth. This is particularly notable because Q4 is typically our strongest quarter and Q1 is typically down. We're seeing strong customer engagement across e-commerce, electronics manufacturing and semiconductor end markets." > — Gregory Smith, CEO, Investor Focus · Q1 FY2026 ### 2. Ai Revenue Increase AI-related demand accounted for nearly 70% of revenue in Q1 2026, up from about 60% in Q4 2025. > "In Q1, AI-related demand accounted for nearly 70% of our revenue, up from about 60% in Q4 of 2025." > — Gregory Smith, CEO, Investor Focus · Q1 FY2026 ### 3. Merchant Gpu Orders The company received its first multi-system production test orders for merchant GPU in Q1, and these systems are expected to ship, be installed, and be in production in Q2. > "Aligned with this momentum, I am pleased to share that we have received our first multi-system production test orders for merchant GPU in Q1. We expect these systems to ship, be installed and be in production in Q2." > — Gregory Smith, CEO, Investor Focus · Q1 FY2026 ### 4. Memory Market Growth The overall memory market is on track for solid TAM growth for the year, and Teradyne expects to gain low single-digit share. > "The overall memory market is on track for solid TAM growth for the year, and we expect to gain low single-digit share." > — Gregory Smith, CEO, Investor Focus · Q1 FY2026 ### 5. Omnyx Platform Introduction The company introduced Omnyx, a new production board test platform designed to address the unique set of test challenges for server boards and tray assemblies, enabling earlier detection of defects that are plaguing the build-out of AI data centers. > "The second product introduction is Omnyx, which is a new production board test platform designed to address the unique set of test challenges for server boards and tray assemblies. This platform uses power, thermal, optical and TDR test capabilities from across all of Teradyne to enable earlier detection of defects that are plaguing the build-out of AI data centers." > — Gregory Smith, CEO, Investor Focus · Q1 FY2026 ### 6. Verticalization Concentration Risk While the business is concentrating into vertically-integrated technology companies, this concentration also increases the risk of short-term demand peaks and valleys. > "While these massive customers are driving strong growth, it also means that the business is increasingly concentrated to these customers into a smaller number of very large ASIC and commercial device programs. This concentration also increases the risk that bottlenecks in other areas could shift demand for our products, which can lead to short-term demand peaks and valleys superimposed over long-term strong growth trend." > — Gregory Smith, CEO, Risk Indicator · Q1 FY2026 ## MoonshotScore Pillars | Pillar | Score | Level | Evidence | |---|---|---|---| | Revenue Growth | 10.0 | strong | Q1 vs Q2: fast growth (+96.8%) | | Gross Margin | 6.0 | medium | Q1: high margin (60.9%) | | Operating Leverage | 4.0 | medium | op margin very strong (36.9%, scale leverage) | | Cash Runway | 10.0 | strong | FCF very strong ($0.2B, 3.1× CapEx) | | R&D Intensity | 7.0 | strong | balanced R&D investment (13.8%) | | Price Momentum | 7.0 | strong | RSI 51.4 balanced, 50d above | | News Sentiment | 6.0 | medium | majority buy (63%) | **Formula:** sum(pillar.score) / (count * 10) * 100. Each pillar deterministic from FMP. Source maps in pillar.formula. ## Council (7-Lens) | Name | Stance | Context | |---|---|---| | Ray Dalio | bull | macro · target upside +2.8% | | Ken Griffin | bull | flow · 50d MA above | | Jim Simons | neutral | quant · RSI 51 | | Klarman | neutral | value · target upside +2.8% | | Buffett | bull | quality · ROE score 5/5 | | Munger | neutral | valuation · target upside +2.8% | **Formula:** Each lens uses deterministic rule on bundle data. Logged in member.contextTr. ## Munger Lens - **Verdict:** Fairly Valued - **Financial Health:** Strong - **Margin of Safety:** Weak - **Interest Coverage:** Adequate - **ROIC vs WACC:** Healthy **Formula:** verdict=upside>25?Undervalued:>0?Fairly Valued:Overvalued. Each lens deterministic from FMP ratings + priceTarget. ## Technical Levels - **RSI(14):** 51.4 — dengeli — yön sinyali zayıf - **50d MA:** $333 — hisse %8.1 üstünde — kısa vadeli destek - **200d MA:** $216 — hisse %66.5 üstünde — uzun vadeli destek - **Volume (10d):** -32% ## Past Performance (4 Quarters) | Quarter | EPS Actual | EPS Estimate | Result | Reaction | |---|---|---|---|---| | Q2 FY25 | $0.57 | $0.54 | BEAT | +18.9% | | Q3 FY25 | $0.85 | $0.79 | BEAT | +20.5% | | Q4 FY25 | $1.80 | $1.38 | BEAT | +13.4% | | Q1 FY26 | $2.56 | $2.11 | +21.3% EPS | -19.4% | Q1 (April 29, 2026): EPS $2.56 vs $2.11 est^[FMP], +21.3% beat. D+1 movement: -19.4%^{[FMP D+1]}. Decline despite beat — market reacted to guidance, not numbers. ## 3 Scenarios ### Scenario A · Beat **Q1 EPS > $2.05 + CapEx discipline** Threshold: EPS > $2.05^{[FMP est]}. Target: Break above median target $370^{[FMP target]}; high target $440^[FMP] upper bound. ### Scenario B · In-Line **EPS ≈ $2.05 + CapEx < $64.7M** Threshold: EPS ≈ $2.05^{[FMP est]}, Q1 CapEx < $64.7M^[FMP]. Target: Consolidation in the band between current $360^[FMP] and median $370^[FMP]. ### Scenario C · Miss **EPS < $1.99 or CapEx ≥ $64.7M** Threshold: EPS < $1.99^{[FMP est×0.97]}. Target: Current $360 below SMA200 $216^[FMP], if rejection continues, $184^[derived] support activates. ## Risk Notes ### Primary segment below threshold Q1: EPS $2.56 vs $2.11 beat^[FMP], stock -19.4% D+1^[FMP]. ### Backlog concentration No RPO/backlog concentration disclosed in Q1 earnings call. ### Insider trading Form 4 data is marked in the table — this page does not generate assumptions for this stock. | Executive | Action | Amount | Date | |---|---|---|---| **Net:** — (0 transactions · 0 sells · 0 buys) · Q1 FY26 ### CapEx shock Q1 CapEx $64.7M^{[FMP cashflow]}. Q1 op margin 36.9%^{[FMP op margin]} — this level in Q1 is sensitive to CapEx revision risk. ## Wall Street Consensus - **Median target:** $370 (+2.8% upside vs current $360) - **High / Low:** $440 / $220 - **Buy / Hold / Sell:** 12 / 6 / 1 - **Analyst count:** 10 (last quarter), 72 all-time ## Additional Transcript Insights ### 1. ai_revenue_increase **Claim:** AI-related demand accounted for nearly 70% of revenue in Q1 2026, up from about 60% in Q4 2025. **Evidence (transcript):** "In Q1, AI-related demand accounted for nearly 70% of our revenue, up from about 60% in Q4 of 2025." **Numbers:** 70%, 60%, Q1, Q4, 2026, 2025 ### 2. verticalization_concentration_risk **Claim:** While the business is concentrating into vertically-integrated technology companies, this concentration also increases the risk of short-term demand peaks and valleys. **Evidence (transcript):** "While these massive customers are driving strong growth, it also means that the business is increasingly concentrated to these customers into a smaller number of very large ASIC and commercial device programs. This concentration also increases the risk that bottlenecks in other areas could shift demand for our products, which can lead to short-term demand peaks and valleys superimposed over long-term strong growth trend." **Numbers:** — ### 3. merchant_gpu_orders **Claim:** The company received its first multi-system production test orders for merchant GPU in Q1, and these systems are expected to ship, be installed, and be in production in Q2. **Evidence (transcript):** "Aligned with this momentum, I am pleased to share that we have received our first multi-system production test orders for merchant GPU in Q1. We expect these systems to ship, be installed and be in production in Q2." **Numbers:** Q1, Q2 ### 4. memory_market_growth **Claim:** The overall memory market is on track for solid TAM growth for the year, and Teradyne expects to gain low single-digit share. **Evidence (transcript):** "The overall memory market is on track for solid TAM growth for the year, and we expect to gain low single-digit share." **Numbers:** — ### 5. robotics_growth **Claim:** Robotics delivered its fourth consecutive quarter of sequential growth, with strong customer engagement across e-commerce, electronics manufacturing, and semiconductor end markets. **Evidence (transcript):** "In Robotics, we delivered our fourth consecutive quarter of sequential growth. This is particularly notable because Q4 is typically our strongest quarter and Q1 is typically down. We're seeing strong customer engagement across e-commerce, electronics manufacturing and semiconductor end markets." **Numbers:** Q4, Q1 ### 6. omnyx_platform_introduction **Claim:** The company introduced Omnyx, a new production board test platform designed to address the unique set of test challenges for server boards and tray assemblies, enabling earlier detection of defects that are plaguing the build-out of AI data centers. **Evidence (transcript):** "The second product introduction is Omnyx, which is a new production board test platform designed to address the unique set of test challenges for server boards and tray assemblies. This platform uses power, thermal, optical and TDR test capabilities from across all of Teradyne to enable earlier detection of defects that are plaguing the build-out of AI data centers." **Numbers:** — --- *Data source: FMP (live query, 2026-05-09), Q1 FY2026 earnings call transcript (Translated to EN with Gemini 2.0 Flash). Educational tool, not investment advice.*