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Teradyne vs Veralto: revenue, profit, margins and growth compared

Teradyne brought in $3.2B of revenue in fiscal 2025, Veralto $5.5B in fiscal 2025. Revenue changed by +13.1% at Teradyne and +6.0% at Veralto on the year before, so Teradyne grew faster. Teradyne kept 17.4% of its revenue as net profit, Veralto 17.1%. Free cash flow was $450.4M at Teradyne and $1B at Veralto.

Side by side, latest fiscal year

TERVLTO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$3.2B$5.5B
Revenue growth+13.1%+6.0%
Net income$554M$940M
Net margin17.4%17.1%
Free cash flow$450.4M$1B
Free cash flow margin14.1%18.4%
Earnings per share (diluted)$3.47$3.76
Cash$293.8M$2B
Debtn/a$2.7B
Price to earnings114.825.8
Market value$62.3B$23.7B
Dividend yield0.12%n/a
Rank by revenue in sector#174 of 451 · Industrials#113 of 451 · Industrials

Over the years

Revenue
TER FY2018: $2.1BTER FY2019: $2.3BTER FY2020: $3.1BTER FY2021: $3.7BTER FY2022: $3.2BTER FY2023: $2.7BTER FY2024: $2.8BTER FY2025: $3.2BVLTO FY2021: $4.7BVLTO FY2023: $4.9BVLTO FY2023: $5BVLTO FY2024: $5.2BVLTO FY2025: $5.5BFY18FY19FY20FY21FY22FY23FY24FY25
TER $3.2BVLTO $5.5B
Net income
TER FY2018: $451.8MTER FY2019: $467.5MTER FY2020: $784.1MTER FY2021: $1BTER FY2022: $715.5MTER FY2023: $448.8MTER FY2024: $542.4MTER FY2025: $554MVLTO FY2021: $861MVLTO FY2023: $845MVLTO FY2023: $839MVLTO FY2024: $833MVLTO FY2025: $940MFY18FY19FY20FY21FY22FY23FY24FY25
TER $554MVLTO $940M
Net margin
TER FY2018: 21.5%TER FY2019: 20.4%TER FY2020: 25.1%TER FY2021: 27.4%TER FY2022: 22.7%TER FY2023: 16.8%TER FY2024: 19.2%TER FY2025: 17.4%VLTO FY2021: 18.3%VLTO FY2023: 17.4%VLTO FY2023: 16.7%VLTO FY2024: 16.0%VLTO FY2025: 17.1%FY18FY19FY20FY21FY22FY23FY24FY25
TER 17.4%VLTO 17.1%
Revenue growth
TER FY2019: +9.2%TER FY2020: +36.0%TER FY2021: +18.6%TER FY2022: -14.8%TER FY2023: -15.2%TER FY2024: +5.4%TER FY2025: +13.1%VLTO FY2023: +3.6%VLTO FY2023: +3.1%VLTO FY2024: +3.4%VLTO FY2025: +6.0%FY19FY20FY21FY22FY23FY24FY25
TER +13.1%VLTO +6.0%
Free cash flow
TER FY2018: $362.5MTER FY2019: $444.1MTER FY2020: $684MTER FY2021: $965.9MTER FY2022: $414.7MTER FY2023: $425.6MTER FY2024: $474.1MTER FY2025: $450.4MVLTO FY2021: $842MVLTO FY2023: $836MVLTO FY2023: $909MVLTO FY2024: $820MVLTO FY2025: $1BFY18FY19FY20FY21FY22FY23FY24FY25
TER $450.4MVLTO $1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Teradyne and Veralto

Which is bigger by revenue, Teradyne or Veralto?

Veralto is bigger by revenue: $5.5B in fiscal 2025, against $3.2B for Teradyne in fiscal 2025.

Which keeps more of its revenue as profit, Teradyne or Veralto?

Teradyne had a net margin of 17.4% in fiscal 2025; Veralto had 17.1% in fiscal 2025.

Which grew revenue faster, Teradyne or Veralto?

In their latest fiscal years revenue changed by +13.1% at Teradyne and +6.0% at Veralto.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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