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Side-by-side financial comparison of Teradyne (TER) and Virtu Financial, Inc. (VIRT). Click either name above to swap in a different company.
Teradyne is the larger business by last-quarter revenue ($1.3B vs $1.1B, roughly 1.2× Virtu Financial, Inc.). Virtu Financial, Inc. runs the higher net margin — 31.6% vs 31.1%, a 0.5% gap on every dollar of revenue. On growth, Teradyne posted the faster year-over-year revenue change (87.0% vs 30.7%). Over the past eight quarters, Teradyne's revenue compounded faster (32.6% CAGR vs 25.7%).
Teradyne, Inc. is an American automatic test equipment (ATE) designer and manufacturer based in North Reading, Massachusetts. Its high-profile customers include Samsung, Qualcomm, Intel, Analog Devices, Texas Instruments and IBM.
Virtu Financial, Inc. is an American high-frequency trading company. The company went public on the Nasdaq in 2015.
TER vs VIRT — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $1.1B |
| Net Profit | $398.9M | $346.6M |
| Gross Margin | 60.9% | — |
| Operating Margin | 36.9% | 37.4% |
| Net Margin | 31.1% | 31.6% |
| Revenue YoY | 87.0% | 30.7% |
| Net Profit YoY | — | 82.8% |
| EPS (diluted) | $2.53 | $1.99 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $1.3B | $1.1B | ||
| Q4 25 | $1.1B | $969.9M | ||
| Q3 25 | $769.2M | $824.8M | ||
| Q2 25 | $651.8M | $999.6M | ||
| Q1 25 | $685.7M | $837.9M | ||
| Q4 24 | $752.9M | $834.3M | ||
| Q3 24 | $737.3M | $706.8M | ||
| Q2 24 | $729.9M | $693.0M |
| Q1 26 | $398.9M | $346.6M | ||
| Q4 25 | $257.2M | $139.9M | ||
| Q3 25 | $119.6M | $77.6M | ||
| Q2 25 | $78.4M | $151.2M | ||
| Q1 25 | $98.9M | $99.7M | ||
| Q4 24 | $146.3M | $94.1M | ||
| Q3 24 | $145.6M | $60.0M | ||
| Q2 24 | $186.3M | $66.6M |
| Q1 26 | 60.9% | — | ||
| Q4 25 | 57.2% | — | ||
| Q3 25 | 58.4% | — | ||
| Q2 25 | 57.2% | — | ||
| Q1 25 | 60.6% | — | ||
| Q4 24 | 59.4% | — | ||
| Q3 24 | 59.2% | — | ||
| Q2 24 | 58.3% | — |
| Q1 26 | 36.9% | 37.4% | ||
| Q4 25 | 27.1% | 35.4% | ||
| Q3 25 | 18.9% | 21.8% | ||
| Q2 25 | 13.9% | 34.7% | ||
| Q1 25 | 17.6% | 26.7% | ||
| Q4 24 | 20.4% | 24.3% | ||
| Q3 24 | 20.6% | 20.8% | ||
| Q2 24 | 28.8% | 22.4% |
| Q1 26 | 31.1% | 31.6% | ||
| Q4 25 | 23.7% | 14.4% | ||
| Q3 25 | 15.5% | 9.4% | ||
| Q2 25 | 12.0% | 15.1% | ||
| Q1 25 | 14.4% | 11.9% | ||
| Q4 24 | 19.4% | 11.3% | ||
| Q3 24 | 19.8% | 8.5% | ||
| Q2 24 | 25.5% | 9.6% |
| Q1 26 | $2.53 | $1.99 | ||
| Q4 25 | $1.62 | $1.54 | ||
| Q3 25 | $0.75 | $0.86 | ||
| Q2 25 | $0.49 | $1.65 | ||
| Q1 25 | $0.61 | $1.08 | ||
| Q4 24 | $0.89 | $1.03 | ||
| Q3 24 | $0.89 | $0.64 | ||
| Q2 24 | $1.14 | $0.71 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $241.9M | $973.2M |
| Total DebtLower is stronger | $0 | — |
| Stockholders' EquityBook value | — | $2.2B |
| Total Assets | $4.4B | $25.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $241.9M | $973.2M | ||
| Q4 25 | $293.8M | $1.1B | ||
| Q3 25 | $272.7M | $707.9M | ||
| Q2 25 | $339.3M | $752.1M | ||
| Q1 25 | $475.6M | $723.6M | ||
| Q4 24 | $553.4M | $872.5M | ||
| Q3 24 | $510.0M | $701.4M | ||
| Q2 24 | $421.9M | $684.8M |
| Q1 26 | $0 | — | ||
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B |
| Q1 26 | — | $2.2B | ||
| Q4 25 | $2.8B | $1.6B | ||
| Q3 25 | $2.7B | $1.5B | ||
| Q2 25 | $2.8B | $1.4B | ||
| Q1 25 | $2.8B | $1.3B | ||
| Q4 24 | $2.8B | $1.3B | ||
| Q3 24 | $2.9B | $1.2B | ||
| Q2 24 | $2.7B | $1.2B |
| Q1 26 | $4.4B | $25.1B | ||
| Q4 25 | $4.2B | $20.2B | ||
| Q3 25 | $4.0B | $21.3B | ||
| Q2 25 | $3.8B | $19.3B | ||
| Q1 25 | $3.7B | $17.5B | ||
| Q4 24 | $3.7B | $15.4B | ||
| Q3 24 | $3.8B | $14.4B | ||
| Q2 24 | $3.6B | $13.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.29× | ||
| Q3 25 | — | 1.40× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | — | 1.33× | ||
| Q4 24 | — | 1.39× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 1.41× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $265.1M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.66× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $265.1M | — | ||
| Q4 25 | $281.6M | $518.4M | ||
| Q3 25 | $49.0M | $-68.7M | ||
| Q2 25 | $182.1M | $62.8M | ||
| Q1 25 | $161.6M | $15.0M | ||
| Q4 24 | $282.6M | $599.0M | ||
| Q3 24 | $166.3M | $112.1M | ||
| Q2 24 | $216.1M | $490.8M |
| Q1 26 | — | — | ||
| Q4 25 | $218.8M | $495.6M | ||
| Q3 25 | $2.4M | $-76.7M | ||
| Q2 25 | $131.7M | $57.6M | ||
| Q1 25 | $97.6M | $9.2M | ||
| Q4 24 | $225.2M | $586.6M | ||
| Q3 24 | $114.4M | $106.2M | ||
| Q2 24 | $171.2M | $486.9M |
| Q1 26 | — | — | ||
| Q4 25 | 20.2% | 51.1% | ||
| Q3 25 | 0.3% | -9.3% | ||
| Q2 25 | 20.2% | 5.8% | ||
| Q1 25 | 14.2% | 1.1% | ||
| Q4 24 | 29.9% | 70.3% | ||
| Q3 24 | 15.5% | 15.0% | ||
| Q2 24 | 23.5% | 70.3% |
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 2.4% | ||
| Q3 25 | 6.1% | 1.0% | ||
| Q2 25 | 7.7% | 0.5% | ||
| Q1 25 | 9.3% | 0.7% | ||
| Q4 24 | 7.6% | 1.5% | ||
| Q3 24 | 7.0% | 0.8% | ||
| Q2 24 | 6.1% | 0.6% |
| Q1 26 | 0.66× | — | ||
| Q4 25 | 1.09× | 3.71× | ||
| Q3 25 | 0.41× | -0.89× | ||
| Q2 25 | 2.32× | 0.42× | ||
| Q1 25 | 1.63× | 0.15× | ||
| Q4 24 | 1.93× | 6.37× | ||
| Q3 24 | 1.14× | 1.87× | ||
| Q2 24 | 1.16× | 7.37× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TER
Segment breakdown not available.
VIRT
| Trading income, net | $789.1M | 72% |
| Commissions, net and technology services | $186.6M | 17% |
| Other | $119.6M | 11% |
