Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price398.38 USD
Fair value274.23
Ethical score88.6/100
RatingFAIR VALUE
Our investment reviews on this name
2026-10-02Read Markup398.38+0.0% to today ✓
2026-09-14Read Distribution372.06+7.1% to today
2026-08-14Read Markup389.39+2.3% to today ✓
2026-07-02Read Distribution357.93+11.3% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Teradyne holds its Markup at $398.38. The statistical read favours the buyers, held for 18 days.
As held on the ledger · 2026-09-25
Phase
Markup
Quantitative state
The statistical read favours the buyers, held for 18 days
Price at the screen
$398.38
Valuation
54.65 trailing · 34.19 forward price to earnings
Values screen
PASS· score 88.6
Beta
1.78
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
6.77%
Below 33%
Interest-bearing debt is just 6.8% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
3.02%
Below 33%
Cash held in interest-bearing accounts and securities is 3.0% of assets, under the one-third limit.
Pass
Receivables
25.83%
Below 49%
Money owed to the company is 25.8% of assets, under the 49% limit.
Pass
Revenue purity
0.49%
Below 5%
Only 0.5% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Teradyne clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 7%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads FAIR VALUE: it trades above our $274.23 fair value estimate, strong competitive moat, 103.90% revenue growth.
Fair value range in USD, drawn from the 2026-09-25 screen. The gold marker is the market price at the same screen. The price runs 31.2% above the base estimate.
Third-party analyst targets: 15 covering, consensus Buy. The average target sits +13% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-25 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Chip Tester Trades Well Above Fair Value
Every new phone or car needs its chips tested before they reach the customer. Teradyne supplies those systems and shows a strong moat, 87% revenue growth, 23% profit margins and 29% returns on equity. Yet the shares sit 19% above our fair value with a forward multiple of 32.8 times.
We pass. The business clears our ethical screen and the numbers look solid on paper. Analyst targets sit higher, but that does not close the gap between price and our assessment of value.
The real issue sits in the cycle. Semiconductor equipment demand swings hard, so today's strong earnings can mask the risk that orders slow sharply and multiples compress. At current levels the margin of safety has already turned negative.
Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
TER trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Markup · changed$398.38+7.1%Entry 6
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 7.1% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 69% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 293%. Our forward projection puts the odds of a 10% gain over the next month near 39%. The street (17 analysts) rates it buy, with a mean price target of $370.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 4.5% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 69% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 293%. Our forward projection puts the odds of a 10% gain over the next month near 39%. The street (17 analysts) rates it buy, with a mean price target of $370.
2026-08-14Markup · changed$389.39+8.8%Entry 4
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 8.8% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 69% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 293%. Our forward projection puts the odds of a 10% gain over the next month near 39%. The street (17 analysts) rates it buy, with a mean price target of $370.
2026-07-18Distribution$357.93+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 69% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 293%. Our forward projection puts the odds of a 10% gain over the next month near 39%. The street (17 analysts) rates it buy, with a mean price target of $370.
2026-07-03Distribution$357.93+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Distribution$357.93Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
