Qnity Electronics
Q · Semiconductor Materials & Equipment
$109.83
1.0%Teradyne
TER · Semiconductor Materials & Equipment
$308.85
0.0%The short version
- Qnity Electronics is the larger business, with $4.8B of revenue in fiscal 2025 against $3.2B for Teradyne.
- Teradyne grew revenue faster (13.1%, against 9.7%).
- Qnity Electronics turned more of its sales into free cash flow (20.8% FCF margin, against 14.1% FCF margin).
- Teradyne earned a higher return on the capital invested in it (23.0%, against 7.3%).
- Investors pay more for each dollar of Teradyne’s earnings: a P/E of 89.0x against 33.3x for Qnity Electronics.
| Latest fiscal year | Q · FY25 | TER · FY25 |
|---|---|---|
| Size | ||
| Market cap | $23.1B | $49.3B |
| Revenue | $4.8B | $3.2B |
| Free cash flow | $988M | $450M |
| Net income | $729M | $554M |
| Growth | ||
| Revenue growth | 9.7% | 13.1% |
| 5-year growth | — | 0.4% |
| Share count change | 0.2% | −2.2% |
| Profitability | ||
| Gross margin | 46.2% | 58.2% |
| Operating margin | — | 20.4% |
| Net margin | 15.3% | 17.4% |
| FCF margin | 20.8% | 14.1% |
| Return on capital | 7.3% | 23.0% |
| Return on equity | 8.2% | 19.7% |
| Balance sheet | ||
| Net debt | $3.2B | −$93.8M |
| Net debt / EBITDA | 2.3x | −0.1x |
| Dividends and buybacks | $13.0M | $778M |
| Valuation & quality | ||
| P/E | 33.3x | 89.0x |
| Piotroski F-score | — | 5 |
FY16
Q —
TER $1.8B
FY17
Q —
TER $2.1B
FY18
Q —
TER $2.1B
FY19
Q —
TER $2.3B
FY20
Q —
TER $3.1B
FY21
Q —
TER $3.7B
FY22
Q —
TER $3.2B
FY23
Q $4.0B
TER $2.7B
FY24
Q $4.3B
TER $2.8B
FY25
Q $4.8B
TER $3.2B
Q
TER
FY16
Q —
TER −3.6%
FY17
Q —
TER 24.6%
FY18
Q —
TER 22.6%
FY19
Q —
TER 24.1%
FY20
Q —
TER 29.7%
FY21
Q —
TER 32.4%
FY22
Q —
TER 26.4%
FY23
Q —
TER 18.7%
FY24
Q —
TER 21.1%
FY25
Q —
TER 20.4%
Q
TER
FY16
Q —
TER $370M
FY17
Q —
TER $521M
FY18
Q —
TER $363M
FY19
Q —
TER $444M
FY20
Q —
TER $684M
FY21
Q —
TER $966M
FY22
Q —
TER $415M
FY23
Q $651M
TER $426M
FY24
Q $861M
TER $474M
FY25
Q $988M
TER $450M
Q
TER
FY16
Q —
TER −2.8%
FY17
Q —
TER 14.0%
FY18
Q —
TER 31.9%
FY19
Q —
TER 47.4%
FY20
Q —
TER 57.6%
FY21
Q —
TER 64.5%
FY22
Q —
TER 44.3%
FY23
Q —
TER 25.1%
FY24
Q —
TER 26.6%
FY25
Q 7.3%
TER 23.0%
Q
TER
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.