Onto Innovation vs Teradyne
Teradyne reported revenue of $3.2 billion in fiscal 2025, 3.2 times Onto Innovation's $1.0 billion in fiscal 2025. Onto Innovation's revenue grew 1.8% in its latest year, and Teradyne's grew 13.1%. Onto Innovation had an operating margin of 13.2%, against 20.4% at Teradyne. Free cash flow was $300 million at Onto Innovation and $450 million at Teradyne. Their fiscal years end in different months (January 3 and December 31), so the periods don't line up exactly.
Side by side
| Onto Innovation | Teradyne | |
|---|---|---|
| Latest fiscal year | FY2025, Jan 3, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $1.0B | $3.2B |
| Revenue growth | 1.8% | 13.1% |
| Revenue growth a year, last 5 years | 12.6% | 0.4% |
| Gross margin | 49.7% | 58.2% |
| Operating margin | 13.2% | 20.4% |
| Net margin | 13.6% | 17.4% |
| Free cash flow | $300M | $450M |
| Free cash flow margin | 29.8% | 14.1% |
| Return on capital | 8.8% | 23.0% |
| Net debt to EBITDA | −3.3x | −0.1x |
| Dividends and buybacks | $75M | $778M |
| Change in diluted share count | −0.8% | −2.2% |
| Last close | $203.53 | $309.00 |
| P/E at the last close | 76.5× | 89.0× |
| Insider trades, last 12 months | sold $302,300 | sold $16.0 million |
| Piotroski F-score | 4 of 9 | 5 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Onto InnovationTeradyne
Operating margin
Percent of revenue
Onto InnovationTeradyne
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Onto InnovationTeradyne
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Onto Innovation and Teradyne pages.