Teradyne (TER) Stock Forecast, Price Target & Predictions
TER Stock Forecast
Teradyne stock forecast is as follows: an average price target of $153.18 (represents a 26.05% upside from TER’s last price of $121.52) and a rating consensus of 'Buy', based on 13 wall street analysts offering a 1-year stock forecast.
TER Price Target
The average price target for Teradyne (TER) is $153.18 based on 1-year price targets from 13 Wall Street analysts in the past 3 months, with a price target range of $205.00 to $116.00. This represents a potential 26.05% upside from TER's last price of $121.52.
TER Analyst Ratings
According to 13 Wall Street analysts, Teradyne's rating consensus is 'Buy'. The analyst rating breakdown for TER stock is 0 'Strong Buy' (0.00%), 10 'Buy' (76.92%), 3 'Hold' (23.08%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Teradyne Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Jul 29, 2024 | Richard Eastman | Robert W. Baird | $140.00 | $127.94 | 9.43% | 15.21% |
| Jul 26, 2024 | Atif Malik | Citigroup | $162.00 | $125.23 | 29.36% | 33.31% |
| Jul 26, 2024 | Christian Schwab | Craig-Hallum | $124.00 | $125.69 | -1.34% | 2.04% |
| Jul 26, 2024 | Mehdi Hosseini | Susquehanna | $145.00 | $124.33 | 16.62% | 19.32% |
| Jul 26, 2024 | Gus Richard | Northland Securities | $126.00 | $125.00 | 0.80% | 3.69% |
| Jul 25, 2024 | Brian Chin | Stifel Nicolaus | $140.00 | $124.33 | 12.60% | 15.21% |
| Jul 18, 2024 | Gus Richard | Northland Securities | $136.00 | $151.45 | -10.20% | 11.92% |
| Jul 12, 2024 | Steve Barger | KeyBanc | $180.00 | $154.80 | 16.28% | 48.12% |
| Jun 18, 2024 | Timothy Arcuri | UBS | $170.00 | $144.74 | 17.45% | 39.89% |
| May 21, 2024 | Steve Barger | KeyBanc | $149.00 | $139.51 | 6.80% | 22.61% |
The latest Teradyne stock forecast, released on Jul 29, 2024 by Richard Eastman from Robert W. Baird, set a price target of $140.00, which represents a 9.43% increase from the stock price at the time of the forecast ($127.94), and a 15.21% increase from TER last price ($121.52).
Teradyne Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 9 | 12 |
| Avg Price Target | - | $147.00 | $145.75 |
| Last Closing Price | $121.52 | $121.52 | $121.52 |
| Upside/Downside | -100.00% | 20.97% | 19.94% |
In the current month, the average price target of Teradyne stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Teradyne's last price of $121.52. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Aug 16, 2024 | Cantor Fitzgerald | Neutral | Overweight | Upgrade |
| Jul 26, 2024 | Craig-Hallum | Buy | Hold | Downgrade |
| Jul 26, 2024 | Susquehanna | Positive | Positive | Hold |
| Jul 26, 2024 | Cantor Fitzgerald | Neutral | Neutral | Hold |
| Jul 15, 2024 | Citigroup | Buy | Buy | Hold |
| Jul 12, 2024 | UBS | Buy | Buy | Hold |
| Jul 12, 2024 | KeyBanc | Overweight | Overweight | Hold |
| Jun 17, 2024 | UBS | Buy | Buy | Hold |
| May 21, 2024 | KeyBanc | Overweight | Overweight | Hold |
| May 20, 2024 | Morgan Stanley | - | Equal-Weight | Upgrade |
Teradyne's last stock rating was published by Cantor Fitzgerald on Aug 16, 2024. The company Upgrade its TER rating from "Neutral" to "Overweight".
Teradyne Financial Forecast
Teradyne Revenue Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | $670.60M | $703.73M | $684.44M | $617.53M | $731.84M | $827.07M | - | $755.37M | $885.05M | $950.50M | $1.09B | $781.61M | $758.97M | $819.48M | $838.66M | $704.36M | $654.65M | $582.04M |
| Avg Forecast | $1.12B | $1.13B | $1.08B | $997.55M | $884.71M | $919.50M | $890.66M | $733.87M | $737.53M | $716.40M | $701.20M | $566.40M | $674.99M | $684.59M | $656.94M | $597.55M | $711.95M | $800.53M | $829.11M | $741.33M | $867.61M | $932.90M | $1.06B | $760.42M | $722.13M | $786.10M | $755.15M | $678.81M | $611.80M | $566.06M |
| High Forecast | $1.16B | $1.16B | $1.11B | $1.03B | $912.49M | $948.37M | $918.62M | $756.91M | $760.69M | $720.41M | $723.22M | $584.19M | $692.59M | $707.26M | $677.56M | $616.31M | $734.30M | $825.66M | $829.11M | $805.54M | $942.76M | $1.01B | $1.16B | $826.29M | $784.68M | $854.19M | $820.56M | $737.61M | $664.79M | $615.09M |
| Low Forecast | $1.11B | $1.12B | $1.07B | $988.64M | $876.81M | $911.29M | $882.71M | $727.31M | $730.94M | $712.32M | $694.94M | $561.34M | $668.54M | $675.31M | $651.07M | $592.21M | $705.59M | $793.38M | $829.11M | $712.10M | $833.40M | $896.11M | $1.02B | $730.44M | $693.66M | $755.11M | $725.38M | $652.05M | $587.68M | $543.74M |
| # Analysts | 6 | 4 | 4 | 6 | 4 | 3 | 7 | 4 | 4 | 9 | 7 | 4 | 7 | 14 | 13 | 7 | 6 | 6 | 9 | 6 | 7 | 12 | 7 | 9 | 10 | 16 | 9 | 10 | 8 | 8 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 0.99% | 1.03% | 1.04% | 1.03% | 1.03% | 1.03% | - | 1.02% | 1.02% | 1.02% | 1.02% | 1.03% | 1.05% | 1.04% | 1.11% | 1.04% | 1.07% | 1.03% |
Teradyne's average Quarter revenue forecast for Mar 24 based on 4 analysts is $566.40M, with a low forecast of $561.34M, and a high forecast of $584.19M. TER's average Quarter revenue forecast represents a -15.54% decrease compared to the company's last Quarter revenue of $670.60M (Dec 23).
Teradyne EBITDA Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 6 | 4 | 4 | 6 | 4 | 3 | 7 | 4 | 4 | 9 | 7 | 4 | 7 | 14 | 13 | 7 | 6 | 6 | 9 | 6 | 7 | 12 | 7 | 9 | 10 | 16 | 9 | 10 | 8 | 8 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | $158.26M | $185.81M | $139.91M | $124.54M | $189.68M | $261.66M | - | $229.31M | $287.64M | $331.84M | $421.05M | $263.73M | $261.33M | $300.12M | $255.99M | $234.50M | $187.13M | $186.91M |
| Avg Forecast | $343.38M | $344.01M | $328.92M | $304.97M | $270.47M | $281.11M | $272.29M | $224.36M | $225.48M | $219.02M | $214.37M | $309.99M | $206.36M | $209.29M | $200.84M | $281.81M | $217.66M | $312.44M | $253.47M | $256.19M | $269.80M | $285.20M | $325.03M | $232.48M | $238.04M | $284.04M | $181.43M | $202.52M | $165.81M | $168.22M |
| High Forecast | $354.16M | $354.81M | $339.25M | $314.54M | $278.97M | $289.93M | $280.84M | $231.40M | $232.56M | $220.24M | $221.10M | $371.99M | $211.74M | $216.22M | $207.14M | $338.17M | $224.49M | $374.93M | $253.47M | $307.43M | $323.76M | $309.91M | $353.19M | $252.61M | $285.65M | $340.85M | $217.72M | $243.03M | $198.97M | $201.87M |
| Low Forecast | $340.32M | $340.94M | $325.99M | $302.25M | $268.06M | $278.60M | $269.86M | $222.35M | $223.46M | $217.77M | $212.46M | $247.99M | $204.38M | $206.46M | $199.05M | $225.45M | $215.71M | $249.95M | $253.47M | $204.95M | $215.84M | $273.96M | $312.22M | $223.31M | $190.44M | $227.23M | $145.15M | $162.02M | $132.65M | $134.58M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 0.77% | 0.89% | 0.70% | 0.44% | 0.87% | 0.84% | - | 0.90% | 1.07% | 1.16% | 1.30% | 1.13% | 1.10% | 1.06% | 1.41% | 1.16% | 1.13% | 1.11% |
4 analysts predict TER's average Quarter EBITDA for Mar 24 to be $309.99M, with a high of $371.99M and a low of $247.99M. This is 95.87% upper than Teradyne's previous annual EBITDA (Dec 23) of $158.26M.
Teradyne Net Income Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 6 | 4 | 4 | 6 | 4 | 3 | 7 | 4 | 4 | 9 | 7 | 4 | 7 | 14 | 13 | 7 | 6 | 6 | 9 | 6 | 7 | 12 | 7 | 9 | 10 | 16 | 9 | 10 | 8 | 8 |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | $117.05M | $128.12M | $120.05M | $83.53M | $172.30M | $183.49M | - | $161.93M | $224.04M | $256.72M | $328.32M | $205.51M | $196.33M | $222.72M | $188.91M | $176.19M | $125.07M | $135.86M |
| Avg Forecast | $284.33M | $286.83M | $270.60M | $232.55M | $206.96M | $219.14M | $205.14M | $134.74M | $143.63M | $128.30M | $125.58M | $232.91M | $117.38M | $119.08M | $107.41M | $211.74M | $122.25M | $231.87M | $185.45M | $192.49M | $210.15M | $232.19M | $285.28M | $169.79M | $178.84M | $210.79M | $133.89M | $152.16M | $110.82M | $122.27M |
| High Forecast | $295.93M | $298.54M | $281.64M | $242.05M | $215.41M | $228.09M | $213.51M | $140.24M | $149.49M | $136.52M | $130.70M | $279.49M | $128.79M | $132.13M | $111.79M | $254.08M | $127.24M | $278.24M | $185.45M | $230.99M | $252.18M | $258.33M | $317.40M | $188.91M | $214.60M | $252.94M | $160.66M | $182.60M | $132.99M | $146.73M |
| Low Forecast | $281.03M | $283.50M | $267.45M | $229.85M | $204.56M | $216.60M | $202.76M | $133.17M | $141.97M | $118.43M | $124.12M | $186.33M | $112.49M | $114.18M | $106.16M | $169.39M | $120.83M | $185.49M | $185.45M | $153.99M | $168.12M | $220.29M | $270.66M | $161.09M | $143.07M | $168.63M | $107.11M | $121.73M | $88.66M | $97.82M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 1.00% | 1.08% | 1.12% | 0.39% | 1.41% | 0.79% | - | 0.84% | 1.07% | 1.11% | 1.15% | 1.21% | 1.10% | 1.06% | 1.41% | 1.16% | 1.13% | 1.11% |
Teradyne's average Quarter net income forecast for Mar 24 is $232.91M, with a range of $186.33M to $279.49M. TER's average Quarter net income forecast represents a 98.98% increase compared to the company's last Quarter net income of $117.05M (Dec 23).
Teradyne SG&A Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 6 | 4 | 4 | 6 | 4 | 3 | 7 | 4 | 4 | 9 | 7 | 4 | 7 | 14 | 13 | 7 | 6 | 6 | 9 | 6 | 7 | 12 | 7 | 9 | 10 | 16 | 9 | 10 | 8 | 8 |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | - | $142.34M | $138.33M | $145.69M | $150.96M | $142.75M | $135.63M | - | $140.19M | $142.75M | $134.83M | $140.19M | $129.80M | $124.28M | $115.84M | $113.26M | $111.39M | $117.09M | $109.17M |
| Avg Forecast | $197.64M | $198.01M | $189.32M | $175.53M | $155.68M | $161.80M | $156.73M | $129.14M | $129.78M | $126.06M | $123.39M | $147.25M | $118.78M | $120.46M | $115.60M | $133.86M | $125.28M | $120.60M | $145.89M | $121.69M | $133.89M | $164.16M | $187.08M | $133.81M | $113.21M | $109.63M | $80.27M | $96.20M | $103.75M | $96.35M |
| High Forecast | $203.85M | $204.22M | $195.26M | $181.04M | $160.57M | $166.88M | $161.65M | $133.19M | $133.85M | $126.77M | $127.26M | $176.70M | $121.87M | $124.45M | $119.23M | $160.63M | $129.21M | $144.72M | $145.89M | $146.03M | $160.67M | $178.38M | $203.29M | $145.40M | $135.85M | $131.56M | $96.33M | $115.44M | $124.51M | $115.62M |
| Low Forecast | $195.88M | $196.24M | $187.63M | $173.97M | $154.29M | $160.35M | $155.33M | $127.98M | $128.62M | $125.34M | $122.29M | $117.80M | $117.64M | $118.83M | $114.57M | $107.09M | $124.16M | $96.48M | $145.89M | $97.35M | $107.12M | $157.69M | $179.71M | $128.53M | $90.57M | $87.71M | $64.22M | $76.96M | $83.00M | $77.08M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 1.20% | 1.15% | 1.26% | 1.13% | 1.14% | 1.12% | - | 1.15% | 1.07% | 0.82% | 0.75% | 0.97% | 1.10% | 1.06% | 1.41% | 1.16% | 1.13% | 1.13% |
Teradyne's average Quarter SG&A projection for Mar 24 is $147.25M, based on 4 Wall Street analysts, with a range of $117.80M to $176.70M. The forecast indicates a 3.45% rise compared to TER last annual SG&A of $142.34M (Dec 23).
Teradyne EPS Forecast
| Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 6 | 4 | 4 | 6 | 4 | 3 | 7 | 4 | 4 | 9 | 7 | 4 | 7 | 14 | 13 | 7 | 6 | 6 | 9 | 6 | 7 | 12 | 7 | 9 | 10 | 16 | 9 | 10 | 8 | 8 |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | $0.77 | $0.83 | $0.78 | $0.54 | $1.11 | $1.17 | - | $1.00 | $1.38 | $1.56 | $1.98 | $1.23 | $1.18 | $1.34 | $1.14 | $1.06 | $0.82 | $0.80 |
| Avg Forecast | $1.74 | $1.75 | $1.66 | $1.42 | $1.27 | $1.34 | $1.25 | $0.82 | $0.88 | $0.78 | $0.77 | $0.33 | $0.72 | $0.73 | $0.66 | $0.43 | $0.75 | $1.04 | $1.14 | $0.88 | $1.29 | $1.43 | $1.76 | $1.05 | $1.00 | $1.12 | $1.02 | $0.88 | $0.79 | $0.70 |
| High Forecast | $1.81 | $1.83 | $1.72 | $1.48 | $1.32 | $1.40 | $1.31 | $0.86 | $0.91 | $0.84 | $0.80 | $0.34 | $0.79 | $0.81 | $0.68 | $0.45 | $0.78 | $1.08 | $1.14 | $0.98 | $1.43 | $1.59 | $1.96 | $1.17 | $1.12 | $1.25 | $1.14 | $0.98 | $0.88 | $0.78 |
| Low Forecast | $1.72 | $1.73 | $1.64 | $1.41 | $1.25 | $1.33 | $1.24 | $0.81 | $0.87 | $0.72 | $0.76 | $0.32 | $0.69 | $0.70 | $0.65 | $0.43 | $0.74 | $1.03 | $1.14 | $0.84 | $1.22 | $1.36 | $1.67 | $0.99 | $0.95 | $1.06 | $0.97 | $0.83 | $0.75 | $0.66 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 1.07% | 1.14% | 1.19% | 1.25% | 1.48% | 1.13% | - | 1.13% | 1.07% | 1.09% | 1.13% | 1.17% | 1.17% | 1.20% | 1.12% | 1.21% | 1.04% | 1.14% |
According to 4 Wall Street analysts, Teradyne's projected average Quarter EPS for Mar 24 is $0.33, with a low estimate of $0.32 and a high estimate of $0.34. This represents a -57.52% decrease compared to TER previous annual EPS of $0.77 (Dec 23).
Teradyne Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| IPGP | IPG Photonics | $62.84 | $146.00 | 132.34% | Buy |
| ICHR | Ichor | $27.28 | $47.00 | 72.29% | Buy |
| UCTT | Ultra Clean | $32.94 | $56.00 | 70.01% | Buy |
| ONTO | Onto Innovation | $177.30 | $257.50 | 45.23% | Buy |
| ACLS | Axcelis | $96.98 | $137.00 | 41.27% | Buy |
| COHU | Cohu | $24.18 | $34.00 | 40.61% | Buy |
| ENTG | Entegris | $107.11 | $148.30 | 38.46% | Buy |
| TER | Teradyne | $121.45 | $153.18 | 26.13% | Buy |
| ASML | ASML | $752.79 | $905.67 | 20.31% | Buy |
| VECO | Veeco Instruments | $29.67 | $34.33 | 15.71% | Buy |
| AMAT | Applied Materials | $174.75 | $201.30 | 15.19% | Buy |
| LRCX | Lam Research | $733.83 | $827.05 | 12.70% | Buy |
| KLAC | KLA | $702.80 | $590.28 | -16.01% | Buy |
TER Forecast FAQ
Is Teradyne a good buy?
Yes, according to 13 Wall Street analysts, Teradyne (TER) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 10 'Buy' recommendations, accounting for 76.92% of TER's total ratings.
What is TER's price target?
Teradyne (TER) average price target is $153.18 with a range of $116 to $205, implying a 26.05% from its last price of $121.52. The data is based on 13 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Teradyne stock go up soon?
According to Wall Street analysts' prediction for TER stock, the company can go up by 26.05% (from the last price of $121.52 to the average price target of $153.18), up by 68.70% based on the highest stock price target, and down by -4.54% based on the lowest stock price target.
Can Teradyne stock reach $200?
TER's highest twelve months analyst stock price target of $205 supports the claim that Teradyne can reach $200 in the near future.
What are Teradyne's analysts' financial forecasts?
Teradyne's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $3.43B (high $3.54B, low $3.4B), average EBITDA is $1.05B (high $1.08B, low $1.04B), average net income is $765.99M (high $797.25M, low $757.09M), average SG&A $603.34M (high $622.28M, low $597.95M), and average EPS is $4.69 (high $4.88, low $4.63). TER's analysts financial forecasts for the fiscal year (Dec 2026) are as follows: average revenue is $4.32B (high $4.46B, low $4.28B), average EBITDA is $1.32B (high $1.36B, low $1.31B), average net income is $1.07B (high $1.12B, low $1.06B), average SG&A $760.51M (high $784.38M, low $753.71M), and average EPS is $6.57 (high $6.84, low $6.5).
Did the TER's actual financial results beat the analysts' financial forecasts?
Based on Teradyne's last annual report (Dec 2023), the company's revenue was $2.68B, beating the average analysts forecast of $2.61B by 2.38%. Apple's EBITDA was $633.46M, missing the average prediction of $898.3M by -29.48%. The company's net income was $448.75M, missing the average estimation of $555.6M by -19.23%. Apple's SG&A was $577.32M, beating the average forecast of $488.7M by 18.13%. Lastly, the company's EPS was $2.91, beating the average prediction of $2.54 by 14.76%. In terms of the last quarterly report (Dec 2023), Teradyne's revenue was $670.6M, missing the average analysts' forecast of $674.99M by -0.65%. The company's EBITDA was $158.26M, missing the average prediction of $206.36M by -23.31%. Teradyne's net income was $117.05M, missing the average estimation of $117.38M by -0.27%. The company's SG&A was $142.34M, beating the average forecast of $118.78M by 19.84%. Lastly, the company's EPS was $0.77, beating the average prediction of $0.718 by 7.24%