Advanced Energy vs Teradyne
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The short version
- Teradyne is the larger business, with $3.2B of revenue in fiscal 2025 against $1.8B for Advanced Energy, about 1.8 times as much.
- Advanced Energy grew revenue faster (21.4%, against 13.1%).
- Teradyne kept more of each dollar of sales as operating profit (20.4% operating margin, against 9.3%).
- Teradyne turned more of its sales into free cash flow (14.1% FCF margin, against 7.0%).
- Teradyne earned a higher return on the capital invested in it (23.0%, against 13.6%).
| Latest fiscal year | AEIS · FY25 | TER · FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.2B | $49.3B |
| Revenue | $1.8B | $3.2B |
| Free cash flow | $126M | $450M |
| Net income | $148M | $554M |
| Growth | ||
| Revenue growth | 21.4% | 13.1% |
| 5-year growth | 4.9% | 0.4% |
| Share count change | 2.1% | −2.2% |
| Profitability | ||
| Gross margin | 37.7% | 58.2% |
| Operating margin | 9.3% | 20.4% |
| Net margin | 8.3% | 17.4% |
| FCF margin | 7.0% | 14.1% |
| Return on capital | 13.6% | 23.0% |
| Return on equity | 11.6% | 19.7% |
| Balance sheet | ||
| Net debt | −$224M | −$93.8M |
| Net debt / EBITDA | −1.0x | −0.1x |
| Dividends and buybacks | $45.8M | $778M |
| Valuation & quality | ||
| P/E | 40.3x | — |
| Piotroski F-score | 6 | 5 |
Revenue
FY16
AEIS $327M
TER $1.8B
FY17
AEIS $453M
TER $2.1B
FY18
AEIS $719M
TER $2.1B
FY19
AEIS $789M
TER $2.3B
FY20
AEIS $1.4B
TER $3.1B
FY21
AEIS $1.5B
TER $3.7B
FY22
AEIS $1.8B
TER $3.2B
FY23
AEIS $1.7B
TER $2.7B
FY24
AEIS $1.5B
TER $2.8B
FY25
AEIS $1.8B
TER $3.2B
AEIS
TER
Operating margin
FY16
AEIS 38.8%
TER −3.6%
FY17
AEIS 44.3%
TER 24.6%
FY18
AEIS 23.9%
TER 22.6%
FY19
AEIS 6.9%
TER 24.1%
FY20
AEIS 12.4%
TER 29.7%
FY21
AEIS 10.4%
TER 32.4%
FY22
AEIS 12.6%
TER 26.4%
FY23
AEIS 6.9%
TER 18.7%
FY24
AEIS 2.5%
TER 21.1%
FY25
AEIS 9.3%
TER 20.4%
AEIS
TER
Free cash flow
FY16
AEIS $112M
TER $370M
FY17
AEIS $174M
TER $521M
FY18
AEIS $131M
TER $363M
FY19
AEIS $23.2M
TER $444M
FY20
AEIS $165M
TER $684M
FY21
AEIS $111M
TER $966M
FY22
AEIS $125M
TER $415M
FY23
AEIS $148M
TER $426M
FY24
AEIS $74.0M
TER $474M
FY25
AEIS $126M
TER $450M
AEIS
TER
Return on capital
FY16
AEIS —
TER −2.8%
FY17
AEIS —
TER 14.0%
FY18
AEIS —
TER 31.9%
FY19
AEIS —
TER 47.4%
FY20
AEIS 22.8%
TER 57.6%
FY21
AEIS 20.0%
TER 64.5%
FY22
AEIS 22.9%
TER 44.3%
FY23
AEIS 11.4%
TER 25.1%
FY24
AEIS 3.6%
TER 26.6%
FY25
AEIS 13.6%
TER 23.0%
AEIS
TER
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.