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Advantest (6857) investor relations material
Advantest Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 FY25 sales set a new record, surpassing expectations and prior quarters, driven by strong demand for AI-related SoC and memory test systems, with no anticipated digestion period.
Operating income and net income outperformed projections, with operating income up 110.8% and net income up 105.0% year-over-year, supported by improved product mix and moderate SG&A increases.
Robust performance in the first nine months and solid Q4 visibility led to raised full-year FY25 guidance.
Strategic initiatives and capacity expansion under the Third Mid-Term Plan are progressing, with segment restructuring and a major treasury share cancellation announced.
The business benefited from robust global economic conditions and a surge in tester demand for high-performance semiconductors, especially in AI and HPC segments.
Financial highlights
Q3 FY25 sales reached JPY 273.8B, up 4.1% quarter-over-quarter and 25.5% year-over-year, with gross margin at 62.0% and operating margin at 41.5%.
Operating income for Q3 FY25 was JPY 113.6B, up 4.7% quarter-over-quarter and 64.0% year-over-year; net income was JPY 78.7B, up 51.8% year-over-year.
FY25 guidance raised: sales JPY 1.07 trillion, operating income JPY 454 billion, net income JPY 328.5 billion, EPS JPY 452.34.
Basic earnings per share rose to JPY 340.60 for the nine months, with dividend per share for Q3 FY25 at JPY 29.
Total assets increased to JPY 1,020.5B, equity ratio improved to 66.1%, and cash and cash equivalents at period-end were JPY 329.3B.
Outlook and guidance
Full-year FY25 guidance increased based on strong nine-month results and Q4 visibility, with sales forecast at JPY 1,070.0B, operating income at JPY 454.0B, and net income at JPY 328.5B.
Basic EPS forecast for FY25 is JPY 452.34, up 106.9% year-over-year.
Sustained growth in the tester market anticipated for calendar year 2026, driven by AI demand; SoC tester market for 2026 estimated at $8.5–$9.5B, memory tester market at $2.2–$2.7B.
Customers are sold out through this year and into next, supporting strong test capacity needs into 2027.
Exchange rate assumptions for Q4: 1 USD = 140 JPY, 1 EUR = 155 JPY.
- TimeTickerHeadlineOpen
- 6 FebISCTR
Net profit hit TL 67.4 billion in 2025, with strong NIM, fee growth, and solid 2026 outlook. - 6 FebSCW
73% revenue growth and record backlog driven by new space contracts and strategic investments. - 6 FebCDP
2025 FFO/share rose 5.8% with strong leasing and retention; 2026 guidance signals further growth. - 6 FebSCW
Revenue at 15.86 mln PLN, backlog 17.14 mln PLN, and major space contracts drive 2025 outlook. - 6 FebPENG
All proposals passed, with no questions raised during the Q&A session. - 6 FebSCW
Q2 2024 revenue up 115% y/y, backlog nearly doubled, Space segment leads growth. - 6 FebPECO
2026 FFO per share growth guided at 5.5% with record occupancy and strong acquisitions. - 6 FebSCW
Q2 2025 revenue surged 120% y/y, driven by a record Asian contract and a tripled backlog. - 6 FebSCW
Q1 2025 revenue jumped 97% year-over-year, with strong backlog and major new contracts secured. - 6 FebSCW
Q3 revenue up 39% y/y, backlog at 58.3 mln PLN, Space leads growth with global contracts.
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