Price to Sales (P/S)
since 2005
Calculation
Teradyne Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Revenues1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 22, 2024 | 5.86 | = | 102.48 | ÷ | 17.48 | 17.48 | = | 2,676,298 | ÷ | 153,080,607 | |
| Feb 22, 2023 | 4.98 | = | 100.77 | ÷ | 20.22 | 20.22 | = | 3,155,045 | ÷ | 156,047,868 | |
| Feb 23, 2022 | 4.89 | = | 111.52 | ÷ | 22.80 | 22.80 | = | 3,702,881 | ÷ | 162,417,046 | |
| Feb 22, 2021 | 7.07 | = | 132.39 | ÷ | 18.73 | 18.73 | = | 3,121,469 | ÷ | 166,694,772 | |
| Mar 2, 2020 | 4.40 | = | 60.49 | ÷ | 13.76 | 13.76 | = | 2,294,965 | ÷ | 166,784,497 | |
| Mar 1, 2019 | 3.39 | = | 41.00 | ÷ | 12.10 | 12.10 | = | 2,100,802 | ÷ | 173,629,283 | |
| Mar 1, 2018 | 4.11 | = | 44.90 | ÷ | 10.93 | 10.93 | = | 2,136,606 | ÷ | 195,422,673 | |
| Mar 1, 2017 | 3.32 | = | 29.07 | ÷ | 8.75 | 8.75 | = | 1,753,250 | ÷ | 200,302,178 | |
| Feb 29, 2016 | 2.38 | = | 19.08 | ÷ | 8.02 | 8.02 | = | 1,639,578 | ÷ | 204,336,493 | |
| Feb 27, 2015 | 2.55 | = | 19.32 | ÷ | 7.57 | 7.57 | = | 1,647,824 | ÷ | 217,783,809 | |
| Feb 28, 2014 | 2.75 | = | 20.28 | ÷ | 7.36 | 7.36 | = | 1,427,933 | ÷ | 193,977,544 | |
| Mar 1, 2013 | 1.91 | = | 16.62 | ÷ | 8.71 | 8.71 | = | 1,656,750 | ÷ | 190,315,020 | |
| Feb 29, 2012 | 2.14 | = | 16.42 | ÷ | 7.66 | 7.66 | = | 1,429,061 | ÷ | 186,457,258 | |
| Mar 1, 2011 | 2.10 | = | 18.19 | ÷ | 8.68 | 8.68 | = | 1,608,650 | ÷ | 185,346,619 | |
| Mar 1, 2010 | 2.25 | = | 10.39 | ÷ | 4.62 | 4.62 | = | 819,407 | ÷ | 177,237,096 | |
| Mar 2, 2009 | 0.61 | = | 3.93 | ÷ | 6.41 | 6.41 | = | 1,107,042 | ÷ | 172,696,518 | |
| Feb 28, 2008 | 1.94 | = | 12.26 | ÷ | 6.32 | 6.32 | = | 1,102,280 | ÷ | 174,344,112 | |
| Mar 1, 2007 | 2.21 | = | 16.01 | ÷ | 7.26 | 7.26 | = | 1,376,818 | ÷ | 189,763,454 | |
| Mar 14, 2006 | 2.93 | = | 15.88 | ÷ | 5.43 | 5.43 | = | 1,075,232 | ÷ | 198,096,049 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Teradyne Inc. Annual Report.
- Share Price Trends
- The share price exhibited significant fluctuations over the analyzed period. Initially, the price remained relatively stable around the mid-teens from 2006 through 2008, followed by a sharp decline in 2009 to a low near $3.93. Subsequently, a recovery phase ensued, with price increments interspersed by moderate volatility, culminating in a strong upward trajectory starting around 2016. The price peaked prominently in 2021 at approximately $132.39 before experiencing a moderate decline, settling slightly above $100 in the most recent periods.
- Sales per Share Dynamics
- Sales per share demonstrated a generally positive growth trend over the years, albeit with some fluctuations. After rising from $5.43 in 2006 to $7.26 in 2007, sales per share dipped marginally in 2008 and 2010 before resuming an upward path. Notable growth phases occurred from 2013 through 2022, with sales per share reaching a peak near $22.80 in 2022. A slight decrease was observed in the last recorded year, falling to $17.48, indicating some volatility but overall maintaining a higher level compared to the earlier years.
- Price-to-Sales (P/S) Ratio Patterns
- The Price-to-Sales ratio exhibited pronounced variability, reflecting shifts in market valuation relative to sales. Initially decreasing from 2.93 in 2006 to a low of 0.61 in 2009, the ratio then oscillated in the 2.0 to 3.5 range for several years. From 2016 onwards, a marked increase in the P/S ratio took place, peaking at 7.07 in 2021, corresponding with the peak in share price. Subsequent years showed a slight normalization, yet the ratio remained elevated above historical averages, indicating a higher market premium on sales in recent years.
- Overall Insights
- The data indicates a recovery from the significant downturn observed in 2009, with both share price and sales per share achieving new highs in the recent decade. The elevated P/S ratios in the latter years suggest increased investor confidence or possibly heightened expectations regarding growth prospects. The recent decline in sales per share coupled with a relatively high share price and P/S ratio may warrant attention towards possible changes in sales performance or market sentiment.
Comparison to Competitors
Teradyne Inc., P/S, long-term trends, comparison to competitors
| Teradyne Inc. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 22, 2024 | 5.86 | 11.95 | 7.31 | 5.08 | 14.46 | 3.40 | 6.47 | 4.99 | 4.94 | 21.33 | 3.45 | 8.26 |
| Feb 22, 2023 | 4.98 | 5.38 | 7.14 | 3.43 | 7.00 | 1.85 | 6.09 | 3.68 | 1.87 | 24.67 | 2.85 | 8.25 |
| Feb 23, 2022 | 4.89 | 8.76 | 12.98 | 5.63 | 9.55 | 2.66 | 7.80 | 5.62 | 2.83 | 20.41 | 4.62 | 8.63 |
| Feb 22, 2021 | 7.07 | 10.63 | 9.03 | 4.69 | 7.40 | 2.96 | 5.43 | 5.43 | 2.73 | 17.31 | 6.20 | 10.81 |
| Mar 2, 2020 | 4.40 | 8.59 | 7.06 | 3.75 | 5.62 | 4.07 | 4.74 | 3.10 | 2.15 | 8.05 | 3.98 | 8.54 |
| Mar 1, 2019 | 3.39 | 3.58 | 5.35 | 1.87 | 4.78 | 3.09 | 4.57 | 2.51 | 1.58 | 15.07 | 3.37 | 6.38 |
| Mar 1, 2018 | 4.11 | 2.28 | 6.40 | 3.82 | 6.07 | 3.39 | 4.00 | 3.25 | 2.30 | 8.76 | 3.54 | 6.83 |
| Mar 1, 2017 | 3.32 | 3.08 | 6.57 | 3.29 | 5.48 | 2.90 | 4.06 | 2.46 | 1.44 | 3.55 | 4.21 | 5.77 |
| Feb 29, 2016 | 2.38 | 0.38 | 5.49 | 2.26 | 5.69 | 2.44 | 2.93 | 2.17 | 1.12 | 2.68 | 3.58 | 4.06 |
| Feb 27, 2015 | 2.55 | 0.43 | 6.04 | 3.29 | 6.06 | 2.91 | 4.08 | 2.50 | 2.12 | 2.36 | 4.85 | 4.73 |
| Feb 28, 2014 | 2.75 | 0.51 | 5.90 | 2.66 | 5.11 | 2.34 | 3.41 | 2.10 | 1.94 | 1.84 | 4.74 | 3.95 |
| Mar 1, 2013 | 1.91 | 0.34 | 4.48 | 1.48 | 3.33 | 1.96 | 2.73 | 2.39 | 0.67 | 2.28 | 5.18 | 2.94 |
| Feb 29, 2012 | 2.14 | 0.79 | 3.32 | 1.38 | 3.01 | 2.47 | 1.90 | 1.38 | 0.62 | 2.94 | 5.86 | 2.78 |
| Mar 1, 2011 | 2.10 | 0.97 | 3.89 | 1.86 | 3.05 | 2.79 | 2.98 | 2.18 | 0.91 | 3.00 | 6.72 | 2.99 |
| Mar 1, 2010 | 2.25 | 0.99 | 4.31 | 3.58 | 2.65 | 3.28 | 3.50 | 3.47 | 1.21 | 1.58 | 7.03 | 2.89 |
| Mar 2, 2009 | 0.61 | 0.22 | 1.91 | 1.71 | — | 1.79 | 2.60 | 1.94 | 0.44 | 2.71 | 4.91 | 1.56 |
| Feb 28, 2008 | 1.94 | 0.72 | 3.67 | 2.52 | — | 3.08 | 4.25 | 1.86 | 1.30 | 3.31 | 7.33 | 2.99 |
| Mar 1, 2007 | 2.21 | 1.45 | 4.48 | 2.77 | — | 3.40 | 4.75 | 3.56 | 2.00 | 3.53 | 7.98 | 3.13 |
| Mar 14, 2006 | 2.93 | 3.34 | 5.79 | 4.36 | — | 3.11 | 4.66 | 2.66 | 1.76 | 2.13 | 11.70 | 3.57 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
Teradyne Inc., P/S, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Teradyne Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Feb 22, 2024 | 5.86 | 8.26 |
| Feb 22, 2023 | 4.98 | 5.82 |
| Feb 23, 2022 | 4.89 | 6.31 |
| Feb 22, 2021 | 7.07 | 5.80 |
| Mar 2, 2020 | 4.40 | 4.72 |
| Mar 1, 2019 | 3.39 | 3.83 |
| Mar 1, 2018 | 4.11 | 4.13 |
| Mar 1, 2017 | 3.32 | 3.59 |
| Feb 29, 2016 | 2.38 | 2.80 |
| Feb 27, 2015 | 2.55 | 3.42 |
| Feb 28, 2014 | 2.75 | 3.00 |
| Mar 1, 2013 | 1.91 | 2.49 |
| Feb 29, 2012 | 2.14 | 2.60 |
| Mar 1, 2011 | 2.10 | 2.91 |
| Mar 1, 2010 | 2.25 | 3.41 |
| Mar 2, 2009 | 0.61 | 2.01 |
| Feb 28, 2008 | 1.94 | 3.17 |
| Mar 1, 2007 | 2.21 | 3.55 |
| Mar 14, 2006 | 2.93 | 3.89 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Information Technology)
Teradyne Inc., P/S, long-term trends, comparison to industry (information technology)
| Teradyne Inc. | Information Technology | |
|---|---|---|
| Feb 22, 2024 | 5.86 | 7.33 |
| Feb 22, 2023 | 4.98 | 6.01 |
| Feb 23, 2022 | 4.89 | 7.00 |
| Feb 22, 2021 | 7.07 | 6.13 |
| Mar 2, 2020 | 4.40 | 4.62 |
| Mar 1, 2019 | 3.39 | 4.31 |
| Mar 1, 2018 | 4.11 | 4.19 |
| Mar 1, 2017 | 3.32 | 3.47 |
| Feb 29, 2016 | 2.38 | 3.04 |
| Feb 27, 2015 | 2.55 | 3.32 |
| Feb 28, 2014 | 2.75 | 2.86 |
| Mar 1, 2013 | 1.91 | 2.89 |
| Feb 29, 2012 | 2.14 | 2.84 |
| Mar 1, 2011 | 2.10 | 3.03 |
| Mar 1, 2010 | 2.25 | 3.12 |
| Mar 2, 2009 | 0.61 | 2.39 |
| Feb 28, 2008 | 1.94 | 5.74 |
| Mar 1, 2007 | 2.21 | 5.19 |
| Mar 14, 2006 | 2.93 | 5.61 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).