{"slug":"teradyne","name":"Teradyne","name_en":"Teradyne","ticker":"TER","updated_at":"2026-07-12T06:14:35.396+00:00","canonical":"https://valuechain.wiki/teradyne","same_as":["https://finance.yahoo.com/quote/TER","https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=97210"],"citable":"밸류체인 그래프 기준 Teradyne의 직접 연결 기업은 6곳(관계 기준 공급 0·매출 6)이고, 사슬을 2차까지 넓히면 30곳에 닿는다. 링크의 근거 출처는 9건이며 그중 1차공시가 2건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Teradyne is directly linked to 6 companies (0 supply, 6 revenue relationships) and reaches 30 companies within two hops; the links are backed by 9 dated sources, 2 of them primary filings (as of 2026-07-12).","kicker":"S&P 500 · 반도체 테스트 · ATE 과점(2위)","kicker_en":"S&P 500 · Semi test · ATE oligopoly (#2)","lead":"반도체 자동테스트장비(ATE) 세계 2위로 어드밴테스트와 시장을 과점(3사 합산 ~55%)하는 기업이다. 칩이 스펙대로 동작하는지 검사하는 필수 장비라, SoC·컴퓨팅·메모리·ADAS 등 최종 칩 물량과 복잡도가 커질수록 테스트 수요가 늘어난다. 삼성·SK하이닉스·마이크론·TSMC·엔비디아가 고객이고, 로보틱스(협동로봇)를 두 번째 축으로 둔다. FY 매출 약 $2.8B. 관전점은 AI·HBM발 테스트 복잡도 증가와 ATE capex 사이클이다.","lead_en":"Teradyne is the world's #2 in semiconductor automated test equipment (ATE), an oligopoly with Advantest (three players ~55%). As essential gear verifying that chips work to spec, test demand grows as SoC, computing, memory and ADAS volumes and complexity rise. Customers include Samsung, SK hynix, Micron, TSMC and NVIDIA, with robotics (cobots) as a second axis. FY revenue ~$2.8B. Watch AI/HBM-driven test-complexity growth and the ATE capex cycle.","segments":{"fy":2025,"parts":[{"desc":"ATE 세계 2위(어드밴테스트와 과점). FY2025 +18.8%, AI 컴퓨팅·HBM 테스트가 성장 동력.","name":"반도체 테스트"},{"desc":"협동로봇(UR·MiR). 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ATE는 첨단 칩일수록 테스트 항목·시간이 늘어 장비당 수요가 커지는데, 어드밴테스트와의 과점(3사 ~55%)이 가격·기술 해자를 준다. 고객이 삼성·SK하이닉스·마이크론·TSMC·엔비디아로 첨단 로직·메모리에 걸쳐 있어 AI 가속기·HBM 물량이 테스트 수요를 끌고, 로보틱스가 반도체 사이클과 다른 완충 축이다. 리스크는 ATE capex 사이클과 고객 집중. 그래프 파급: 엔비디아·TSMC·메모리 3사의 첨단 칩 물량이 수요를 직접 끌고, 어드밴테스트와의 경쟁이 점유·가격을 가른다.","analysis_en":"Teradyne's thesis is oligopoly leverage as AI and HBM lengthen test. In ATE, advanced chips add test items and time, growing per-tool demand, and the oligopoly with Advantest (three players ~55%) provides a price/technology moat. Customers span advanced logic and memory — Samsung, SK hynix, Micron, TSMC, NVIDIA — so AI-accelerator and HBM volumes pull test demand, while robotics is a buffer axis on a different cycle than semis. Risks are the ATE capex cycle and customer concentration. Graph propagation: advanced-chip volumes at NVIDIA, TSMC and the three memory makers pull demand directly, and competition with Advantest sets share and price.","analysis_asof":"2026-07-09"},"edges":[{"direction":"revenue","counterparty":"SK하이닉스","counterparty_slug":"sk-hynix","confidence":"high","metric":{"type":"revenue","unit":"USD","basis":"연간 매출","value":2820000000,"period":"FY2024","basis_en":"annual revenue","qualifier":"approx"},"note":"SK하이닉스에 ATE를 공급 — HBM 테스트 항목·시간 증가가 테스터 수요를 구조적으로 키운다.","note_en":"Supplies ATE to SK hynix — HBM test items and time structurally grow tester demand.","sources":[{"stance":"mentions","publisher":"애널리스트 컨센서스","publisher_en":"Analyst consensus","kind":"research","lang":"en","published_at":"2026-06-07","url":"https://www.marketbeat.com/stocks/NASDAQ/TER/forecast/","title":"테라다인(TER) 컨센서스 매수 — AI 테스트 수요(반도체 테스트 매출 50%+가 AI), Cantor $550·BofA $525","title_en":"Teradyne (TER) consensus Buy — AI test demand (>50% of semi-test revenue is AI); Cantor $550, BofA $525","excerpt":"컨센서스 매수(11인)·평균 $394, Cantor $550·BofA $525 — AI가 반도체 테스트 매출의 50%+.","excerpt_en":"Consensus Buy (11 analysts), avg $394; Cantor $550, BofA $525 — AI is 50%+ of semi-test revenue."},{"stance":"confirms","publisher":"한국경제","publisher_en":"Korea Economic Daily","kind":"news","lang":"ko","published_at":"2026-02-24","url":"https://www.hankyung.com/article/2026022418631","title":"테라다인 질주…반도체 호황·로봇 붐 올라탔다","title_en":"Teradyne surges on the chip upturn and robotics boom","excerpt":"테라다인, 반도체 호황에 질주.","excerpt_en":"Teradyne surges on the chip upturn."},{"stance":"confirms","publisher":"미국 SEC(테라다인)","publisher_en":"SEC / Teradyne","kind":"filing","lang":"en","published_at":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/97210/000119312526059002/ter-20251231.htm","title":"테라다인 FY2025 연차보고서(10-K)","title_en":"Teradyne FY2025 Annual Report (Form 10-K)","excerpt":"테라다인 FY2025 총매출 $31.9억(+13.1%). 반도체 테스트 +18.8%(AI 컴퓨팅 수요), 로보틱스 -15.5%. SK하이닉스에 HBM·메모리 ATE 공급.","excerpt_en":"Teradyne FY2025 total revenue $3.19B (+13.1%); Semiconductor Test +18.8% (AI-compute demand), Robotics -15.5%. Supplies HBM·메모리 ATE to SK하이닉스."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-02-26","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=TER&type=10-K","title":"Teradyne 연례보고서 (10-K)","title_en":"Teradyne Form 10-K","excerpt":"10-K: 반도체 테스트 매출.","excerpt_en":"10-K: semiconductor-test revenue."},{"stance":"confirms","publisher":"Teradyne","publisher_en":"Teradyne","kind":"ir","lang":"en","published_at":"2025-01-01","url":"https://www.teradyne.com/semiconductor-testing/","title":"Teradyne 반도체 테스트","title_en":"Teradyne semiconductor testing","excerpt":"메모리·SoC·컴퓨팅 테스트.","excerpt_en":"Memory, SoC and computing test."}]},{"direction":"revenue","counterparty":"삼성전자","counterparty_slug":"samsung-electronics","confidence":"high","metric":{"fy":2025,"relationship":"메모리·SoC ATE","revenue_usd_m":3190,"revenue_yoy_pct":13.1,"semi_test_yoy_pct":18.8},"note":"삼성전자에 ATE를 공급 — 첨단 로직·메모리 테스트 물량이 장비 수요를 끄는 대표 고객.","note_en":"Supplies ATE to Samsung — a key customer whose advanced logic/memory test volume pulls tool demand.","sources":[{"stance":"confirms","publisher":"한국경제","publisher_en":"Korea Economic Daily","kind":"news","lang":"ko","published_at":"2026-02-24","url":"https://www.hankyung.com/article/2026022418631","title":"테라다인 질주…반도체 호황·로봇 붐 올라탔다","title_en":"Teradyne surges on the chip upturn and robotics boom","excerpt":"테라다인, 반도체 호황에 질주.","excerpt_en":"Teradyne surges on the chip upturn."},{"stance":"confirms","publisher":"미국 SEC(테라다인)","publisher_en":"SEC / Teradyne","kind":"filing","lang":"en","published_at":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/97210/000119312526059002/ter-20251231.htm","title":"테라다인 FY2025 연차보고서(10-K)","title_en":"Teradyne FY2025 Annual Report (Form 10-K)","excerpt":"테라다인 FY2025 총매출 $31.9억(+13.1%). 반도체 테스트 +18.8%(AI 컴퓨팅 수요), 로보틱스 -15.5%. 삼성전자에 메모리·SoC ATE 공급.","excerpt_en":"Teradyne FY2025 total revenue $3.19B (+13.1%); Semiconductor Test +18.8% (AI-compute demand), Robotics -15.5%. Supplies 메모리·SoC ATE to 삼성전자."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-02-26","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=TER&type=10-K","title":"Teradyne 연례보고서 (10-K)","title_en":"Teradyne Form 10-K","excerpt":"10-K: 반도체 테스트 매출.","excerpt_en":"10-K: semiconductor-test revenue."},{"stance":"confirms","publisher":"Teradyne","publisher_en":"Teradyne","kind":"ir","lang":"en","published_at":"2025-01-01","url":"https://www.teradyne.com/semiconductor-testing/","title":"Teradyne 반도체 테스트","title_en":"Teradyne semiconductor testing","excerpt":"메모리·SoC·컴퓨팅 테스트.","excerpt_en":"Memory, SoC and computing test."}]},{"direction":"revenue","counterparty":"KYEC","counterparty_slug":"kyec","confidence":"mid","metric":{"fy":2025,"relationship":"SoC ATE(위탁 테스트)","revenue_usd_m":3190,"revenue_yoy_pct":13.1,"semi_test_yoy_pct":18.8},"note":"테스트 위탁사 KYEC에 ATE를 공급 — 외주 테스트 물량이 몰리는 곳이라 장비 수요의 또 다른 축.","note_en":"Supplies ATE to test house KYEC — where outsourced test volume concentrates, another axis of tool demand.","sources":[{"stance":"confirms","publisher":"미국 SEC(테라다인)","publisher_en":"SEC / Teradyne","kind":"filing","lang":"en","published_at":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/97210/000119312526059002/ter-20251231.htm","title":"테라다인 FY2025 연차보고서(10-K)","title_en":"Teradyne FY2025 Annual Report (Form 10-K)","excerpt":"테라다인 FY2025 총매출 $31.9억(+13.1%). 반도체 테스트 +18.8%(AI 컴퓨팅 수요), 로보틱스 -15.5%. KYEC에 SoC ATE(위탁 테스트) 공급.","excerpt_en":"Teradyne FY2025 total revenue $3.19B (+13.1%); Semiconductor Test +18.8% (AI-compute demand), Robotics -15.5%. Supplies SoC ATE(위탁 테스트) to KYEC."},{"stance":"confirms","publisher":"KYEC","publisher_en":"KYEC","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://www.kyec.com.tw/en/","title":"KYEC IR","title_en":"KYEC IR","excerpt":"KYEC에 테스트 장비(ATE) 공급.","excerpt_en":"Supplies test equipment (ATE) to KYEC."},{"stance":"confirms","publisher":"Mordor Intelligence","publisher_en":"Mordor","kind":"analysis","lang":"en","published_at":"2025-01-01","url":"https://www.mordorintelligence.com/industry-reports/osat-market/companies","title":"OSAT 테스트 전문 KYEC","title_en":"KYEC, a pure-play test OSAT","excerpt":"KYEC에 테스트 장비(ATE) 공급.","excerpt_en":"Supplies test equipment (ATE) to KYEC."}]},{"direction":"revenue","counterparty":"TSMC","counterparty_slug":"tsmc","confidence":"mid","metric":{"fy":2025,"relationship":"첨단 SoC ATE","revenue_usd_m":3190,"revenue_yoy_pct":13.1,"semi_test_yoy_pct":18.8},"note":"TSMC에 ATE를 공급 — 첨단 로직·AI 가속기 테스트가 SoC 테스터 수요의 핵심.","note_en":"Supplies ATE to TSMC — advanced-logic and AI-accelerator test is core to SoC tester demand.","sources":[{"stance":"confirms","publisher":"한국경제","publisher_en":"Korea Economic Daily","kind":"news","lang":"ko","published_at":"2026-02-24","url":"https://www.hankyung.com/article/2026022418631","title":"테라다인 질주…반도체 호황·로봇 붐 올라탔다","title_en":"Teradyne surges on the chip upturn and robotics boom","excerpt":"테라다인, 반도체 호황에 질주.","excerpt_en":"Teradyne surges on the chip upturn."},{"stance":"confirms","publisher":"미국 SEC(테라다인)","publisher_en":"SEC / Teradyne","kind":"filing","lang":"en","published_at":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/97210/000119312526059002/ter-20251231.htm","title":"테라다인 FY2025 연차보고서(10-K)","title_en":"Teradyne FY2025 Annual Report (Form 10-K)","excerpt":"테라다인 FY2025 총매출 $31.9억(+13.1%). 반도체 테스트 +18.8%(AI 컴퓨팅 수요), 로보틱스 -15.5%. TSMC에 첨단 SoC ATE 공급.","excerpt_en":"Teradyne FY2025 total revenue $3.19B (+13.1%); Semiconductor Test +18.8% (AI-compute demand), Robotics -15.5%. Supplies 첨단 SoC ATE to TSMC."},{"stance":"confirms","publisher":"세미위키","publisher_en":"SemiWiki","kind":"research","lang":"en","published_at":"2025-10-06","url":"https://semiwiki.com/events/362368-teradyne-and-tsmc-pioneering-the-future-of-semiconductor-testing-through-the-2025-oip-partner-of-the-year-award/","title":"Teradyne and TSMC: Pioneering the Future of Semiconductor Testing Through the 2025 OIP Partner of the Year Award","title_en":"Teradyne and TSMC: Pioneering the Future of Semiconductor Testing Through the 2025 OIP Partner of the Year Award","excerpt":"테라다인의 UCIe·GPIO·스트리밍 스캔 테스트 투자가 TSMC 3DFabric의 다이 간 인터페이스를 확장성 있게 검증한다고 분석하며, AI·데이터센터용 3D IC 테스트에서 두 회사의 긴밀한 협업을 서술한다.","excerpt_en":"Analyzes how Teradyne's UCIe, GPIO and streaming-scan investments enable scalable die-to-die testing for TSMC 3DFabric, detailing the two firms' close collaboration on 3D-IC test for AI and datacenter chips."},{"stance":"confirms","publisher":"테라다인 IR","publisher_en":"Teradyne Investor Relations","kind":"research","lang":"en","published_at":"2025-09-25","url":"https://investors.teradyne.com/news-events/press-releases/detail/422/teradyne-awarded-2025-tsmc-open-innovation-platform-oip-partner-of-the-year-for-tsmc-3dfabric-testing","title":"Teradyne Awarded 2025 TSMC Open Innovation Platform (OIP) Partner of the Year for TSMC 3DFabric Testing","title_en":"Teradyne Awarded 2025 TSMC Open Innovation Platform (OIP) Partner of the Year for TSMC 3DFabric Testing","excerpt":"테라다인이 TSMC OIP 3DFabric 얼라이언스를 통해 TSMC와 협업해 칩렛·CoWoS 어드밴스드 패키징용 멀티다이 테스트 방법론을 개발한 공로로 2025 TSMC OIP 올해의 파트너상을 수상했다. 두 회사의 3DFabric 테스트 협력 관계를 직접 확인한다.","excerpt_en":"Teradyne won TSMC's 2025 OIP Partner of the Year for co-developing multi-die test methodologies for chiplets and CoWoS advanced packaging through the TSMC OIP 3DFabric Alliance, directly confirming the two firms' 3DFabric test collaboration."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-02-26","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=TER&type=10-K","title":"Teradyne 연례보고서 (10-K)","title_en":"Teradyne Form 10-K","excerpt":"10-K: 반도체 테스트 매출.","excerpt_en":"10-K: semiconductor-test revenue."},{"stance":"confirms","publisher":"Teradyne","publisher_en":"Teradyne","kind":"ir","lang":"en","published_at":"2025-01-01","url":"https://www.teradyne.com/semiconductor-testing/","title":"Teradyne 반도체 테스트","title_en":"Teradyne semiconductor testing","excerpt":"메모리·SoC·컴퓨팅 테스트.","excerpt_en":"Memory, SoC and computing test."}]},{"direction":"revenue","counterparty":"NVIDIA","counterparty_slug":"nvidia","confidence":"mid","metric":{"fy":2025,"relationship":"AI 가속기 SoC ATE","revenue_usd_m":3190,"revenue_yoy_pct":13.1,"semi_test_yoy_pct":18.8},"note":"엔비디아에 ATE를 공급 — AI 가속기 물량·복잡도가 테스트 시간을 늘려 장비 수요로 전이.","note_en":"Supplies ATE to NVIDIA — AI-accelerator volume and complexity lengthen test, flowing into tool demand.","sources":[{"stance":"confirms","publisher":"한국경제","publisher_en":"Korea Economic Daily","kind":"news","lang":"ko","published_at":"2026-02-24","url":"https://www.hankyung.com/article/2026022418631","title":"테라다인 질주…반도체 호황·로봇 붐 올라탔다","title_en":"Teradyne surges on the chip upturn and robotics boom","excerpt":"테라다인, 반도체 호황에 질주.","excerpt_en":"Teradyne surges on the chip upturn."},{"stance":"confirms","publisher":"미국 SEC(테라다인)","publisher_en":"SEC / Teradyne","kind":"filing","lang":"en","published_at":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/97210/000119312526059002/ter-20251231.htm","title":"테라다인 FY2025 연차보고서(10-K)","title_en":"Teradyne FY2025 Annual Report (Form 10-K)","excerpt":"테라다인 FY2025 총매출 $31.9억(+13.1%). 반도체 테스트 +18.8%(AI 컴퓨팅 수요), 로보틱스 -15.5%. NVIDIA에 AI 가속기 SoC ATE 공급.","excerpt_en":"Teradyne FY2025 total revenue $3.19B (+13.1%); Semiconductor Test +18.8% (AI-compute demand), Robotics -15.5%. Supplies AI 가속기 SoC ATE to NVIDIA."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-02-26","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=TER&type=10-K","title":"Teradyne 연례보고서 (10-K)","title_en":"Teradyne Form 10-K","excerpt":"10-K: 반도체 테스트 매출.","excerpt_en":"10-K: semiconductor-test revenue."},{"stance":"confirms","publisher":"Teradyne","publisher_en":"Teradyne","kind":"ir","lang":"en","published_at":"2025-01-01","url":"https://www.teradyne.com/semiconductor-testing/","title":"Teradyne 반도체 테스트","title_en":"Teradyne semiconductor testing","excerpt":"메모리·SoC·컴퓨팅 테스트.","excerpt_en":"Memory, SoC and computing test."}]},{"direction":"revenue","counterparty":"Micron Technology","counterparty_slug":"micron","confidence":"mid","metric":{"fy":2025,"relationship":"메모리 ATE","revenue_usd_m":3190,"revenue_yoy_pct":13.1,"semi_test_yoy_pct":18.8},"note":"마이크론에 ATE를 공급 — 메모리 세대전환마다 테스트 커버리지가 늘어나는 수요처.","note_en":"Supplies ATE to Micron — each memory generation raises test coverage and demand.","sources":[{"stance":"confirms","publisher":"한국경제","publisher_en":"Korea Economic Daily","kind":"news","lang":"ko","published_at":"2026-02-24","url":"https://www.hankyung.com/article/2026022418631","title":"테라다인 질주…반도체 호황·로봇 붐 올라탔다","title_en":"Teradyne surges on the chip upturn and robotics boom","excerpt":"테라다인, 반도체 호황에 질주.","excerpt_en":"Teradyne surges on the chip upturn."},{"stance":"confirms","publisher":"미국 SEC(테라다인)","publisher_en":"SEC / Teradyne","kind":"filing","lang":"en","published_at":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/97210/000119312526059002/ter-20251231.htm","title":"테라다인 FY2025 연차보고서(10-K)","title_en":"Teradyne FY2025 Annual Report (Form 10-K)","excerpt":"테라다인 FY2025 총매출 $31.9억(+13.1%). 반도체 테스트 +18.8%(AI 컴퓨팅 수요), 로보틱스 -15.5%. Micron에 메모리 ATE 공급.","excerpt_en":"Teradyne FY2025 total revenue $3.19B (+13.1%); Semiconductor Test +18.8% (AI-compute demand), Robotics -15.5%. Supplies 메모리 ATE to Micron."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-02-26","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=TER&type=10-K","title":"Teradyne 연례보고서 (10-K)","title_en":"Teradyne Form 10-K","excerpt":"10-K: 반도체 테스트 매출.","excerpt_en":"10-K: semiconductor-test revenue."},{"stance":"confirms","publisher":"Teradyne","publisher_en":"Teradyne","kind":"ir","lang":"en","published_at":"2025-01-01","url":"https://www.teradyne.com/semiconductor-testing/","title":"Teradyne 반도체 테스트","title_en":"Teradyne semiconductor testing","excerpt":"메모리·SoC·컴퓨팅 테스트.","excerpt_en":"Memory, SoC and computing test."}]},{"direction":"cost","counterparty":"R&D·SW (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"테스트 SW·알고리즘 R&D(비공개).","note_en":"Test software and algorithm R&D (undisclosed).","sources":[{"stance":"mentions","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-02-26","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=TER&type=10-K","title":"Teradyne 연례보고서 (10-K)","title_en":"Teradyne Form 10-K","excerpt":"R&D.","excerpt_en":"R&D."}]},{"direction":"cost","counterparty":"정밀 부품·인스트루먼트 (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"테스터용 정밀 부품·계측(비공개).","note_en":"Precision parts and instruments for testers (undisclosed).","sources":[{"stance":"mentions","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-02-26","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=TER&type=10-K","title":"Teradyne 연례보고서 (10-K)","title_en":"Teradyne Form 10-K","excerpt":"부품 원가.","excerpt_en":"Component costs."}]}]}