Teradata Corporation
TDC 5Price and target zones价格与目标区间
What the company does公司做什么
Teradata sells database and analytics software that large companies use to store and study very large amounts of data. It is moving its customers from software installed on their own computers to a cloud subscription.Teradata 销售数据库和分析软件，供大型企业存储和研究极大量的数据。它正在把客户从装在自家电脑上的软件迁移到云端订阅。
Earns from营收来源 recurring software subscriptions, plus some consulting.经常性的软件订阅费，再加上一些咨询费。
Read the full description查看完整介绍
Teradata Corporation, together with its subsidiaries, provides an AI and knowledge platforms in the United States and internationally. It operates in two segments, Product Sales and Consulting Services. The company's AI and Knowledge platform designed for enterprise-grade workloads. Its consulting services include support services for organizations to establish data analytics and and AI vision, enable a hybrid ecosystem architecture, and identify and operationalize opportunities. The company serves clients in financial services, healthcare and life sciences, public sector, manufacturing, retail, telecommunications, and travel/transportation sectors through a direct sales force. Teradata Corporation was incorporated in 1979 and is headquartered in San Diego, California.
What the company sells公司卖什么
Plus:此外： Recurring经常性收入 (87%) — Subscriptions and support. FY2025 revenue was $1.4 billion. Cloud subscriptions (ARR) grew 15% to $701 million, but on-site software is shrinking faster订阅和技术支持。2025财年收入为$1.4 billion。云订阅（ARR）增长15%，达到$701 million，但自有电脑上安装的旧软件收缩得更快; Consulting咨询 (12%) — Setup and advisory work系统搭建和顾问工作; Perpetual and other永久许可及其他 (1%) — Older one-time licences, now a tiny part以前那种一次性付费的许可，现在只占很小一部分.
Company facts公司资料
- Founded成立时间
- 1979
- Headquarters总部
- San Diego, California
- Employees员工人数
- 5,100
- Industry行业
- Software - Infrastructure
- Country国家
- United States
Investment thesis投资逻辑 from the watchlist来自关注列表
10.2x fwd, ~8.8x P/FCF, $285M FCF, 8.5% share reduction. Speculative value on a depreciating moat. Buy $20-22.
前瞻市盈率 10.2x,约 8.8x P/FCF,$285M 自由现金流,股份减少 8.5%。押注于一条正在贬值的护城河的投机型价值。$20-22 买入。
Historical results历史业绩 past fiscal years — these values do not change过去财年——这些数值不会变动
Profit margins利润率 the share of revenue that stays as profit营收中留存为利润的比例
of every $1 of revenue每 $1 营收中的占比
- Return on equity净资产收益率
- 118%
- Revenue growth营收增长
- +6%
Competitors竞争对手
Why customers stay客户为什么留下
A large installed base running complex, high-scale workloads, with real switching costs. But it is a depreciating moat: total revenue has fallen about 5% a year, and even recurring revenue is now shrinking, because on-site erosion outruns cloud growth. The cloud business is not yet large enough to offset the decline.庞大的既有客户群在运行复杂、超大规模的工作负载，具有实实在在的更换成本。但这是一条正在贬值的护城河：总收入每年下降约 5%，如今连经常性收入都在缩水，因为自建部署的流失快过云端的增长。云端业务还没有大到足以抵消这种下滑。