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Saturday, November 25, 2017

Teradyne Inc Valuation – Initial Coverage $TER



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Benjamin Graham taught that Intelligent Investors must do a thorough fundamental analysis of investment opportunities to determine their intrinsic value and inherent risk.  This is best done by utilizing a systematic approach to analysis that will provide investors with a sense of how a specific company compares to another company or by reviewing the 10 Stocks for Using A Benjamin Graham Value Investing Strategy – March 2017.  By using the ModernGraham method one can review a company’s historical accomplishments and determine an intrinsic value that can be compared across industries.  What follows is a stock analysis showing a specific look at how Teradyne Inc (TER) fares in the ModernGraham valuation model.

Company Profile (obtained from Google Finance): Teradyne, Inc. supplies automation equipment for test and industrial applications. The Company designs, develops, manufactures and sells automatic test systems used to test semiconductors, wireless products, data storage and complex electronics systems in the consumer electronics, wireless, automotive, industrial, communications, and aerospace and defense industries. Its segments include Semiconductor Test, which includes operations related to the design, manufacturing and marketing of semiconductor test products and services; System Test, which includes operations related to the design, manufacturing and marketing of products and services for defense/aerospace instrumentation test, storage test and circuit-board test; Wireless Test, which includes operations related to the design, manufacturing and marketing of wireless test products and services, and Industrial Automation, which includes operations related to the design, manufacturing and marketing of collaborative robots.

TER Chart

TER data by YCharts


To read the details of this valuation, you must be logged in as a premium member. If you are not a premium member, please consider becoming one.

Premium members can view a full ModernGraham valuation of the company and have access to download a PDF version of the valuation for easy reference. Recent valuations of the components of the Dow Jones Industrial Average are available for free members, including this one of Microsoft Corporation.  In addition, here is a post detailing what can be found within each individual company’s valuation.

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Useful Links:

ModernGraham tagged articles Morningstar
Google Finance MSN Money
Yahoo Finance Seeking Alpha
GuruFocus SEC Filings

Most Recent Balance Sheet Figures

Balance Sheet Information 3/1/2017
Total Current Assets $1,854,153,000
Total Current Liabilities $393,057,000
Long-Term Debt $355,937,000
Total Assets $2,842,280,000
Intangible Assets $324,908,000
Total Liabilities $922,427,000
Shares Outstanding (Diluted Average) 201,936,000

Earnings Per Share History

EPS History
Next Fiscal Year Estimate $2.04
Dec2016 -$0.21
Dec2015 $0.97
Dec2014 $0.37
Dec2013 $0.70
Dec2012 $0.94
Dec2011 $1.63
Dec2010 $1.75
Dec2009 -$0.77
Dec2008 -$2.31
Dec2007 $0.42
Dec2006 $1.01
Dec2005 $0.46
Dec2004 $0.84
Dec2003 -$1.03
Dec2002 -$3.93
Dec2001 -$1.15
Dec2000 $2.51
Dec1999 $1.07
Dec1998 $0.59
Dec1997 $0.74

Earnings Per Share – ModernGraham History

EPSmg History
Next Fiscal Year Estimate $0.91
Dec2016 $0.42
Dec2015 $0.80
Dec2014 $0.83
Dec2013 $0.99
Dec2012 $0.84
Dec2011 $0.58
Dec2010 $0.04
Dec2009 -$0.62
Dec2008 -$0.34
Dec2007 $0.54
Dec2006 $0.23
Dec2005 -$0.43
Dec2004 -$0.77
Dec2003 -$1.22
Dec2002 -$0.93
Dec2001 $0.63

Recommended Reading:

Other ModernGraham posts about the company

None.  This is the first time ModernGraham has covered the company.

Other ModernGraham posts about related companies

Tech Data Corp Valuation – Initial Coverage $TECD
Teledyne Technologies Inc Valuation – Initial Coverage $TDY
Skyworks Solutions Inc Valuation – April 2017 $SWKS
Daktronics Inc Valuation – Initial Coverage $DAKT
Cypress Semiconductor Corp Valuation – Initial Coverage $CY
Littelfuse Inc Valuation – Initial Coverage $LFUS
CTS Corporation Valuation – Initial Coverage $CTS
IT Hardware Industry Review – March 2017
Garmin Ltd Valuation – March 2017 $GRMN
Hewlett Packard Enterprise Co Valuation – Initial Valuation $HPE

Disclaimer:

The author did not hold a position in any company mentioned in this article at the time of publication and had no intention of changing that position within the next 72 hours.  See my current holdings here.  This article is not investment advice; any reader should speak to a registered investment adviser prior to making any investment decisions.  ModernGraham is not affiliated with the company in any manner.  Please be sure to review our detailed disclaimer.

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