HBM and Test Equipment, Q3 2026

Advantest, Teradyne, BESI, ASMPT and Hanmi Semiconductor are the equipment makers in the Q3 2026 earnings roundup that make or serve the tools behind stacked memory. Advantest and Teradyne make the testers, and BESI, ASMPT and Hanmi make the machines that bond dies into a stack. This page reads their quarters side by side and asks whether they kept growing, and it says where a release ties its sales to HBM and where it does not. The Earnings Desk holds the other quarters and the other groups.

All five reported sales above a year earlier, and four of the five grew more than 40%. Advantest’s operating margin rose to 55.9% and BESI’s to 45.8%.

Findings

Advantest’s net sales for the quarter ended September 30 were ¥477.7 billion, up 81.7% from a year earlier and 30.0% on the quarter. Its operating margin was 55.9%, against 41.3% a year earlier. BESI’s revenue came to €283.4 million, up 113.6% from a year earlier and 13.4% on the quarter, at a 45.8% operating margin against 25.7% a year earlier. ASMPT’s revenue was HK$5,247.0 million, up 48.7% from a year earlier on a continuing operations basis, which leaves out its NEXX business, and 6.3% on the quarter.

Two of the five slipped on the quarter, Teradyne and Hanmi. Teradyne’s revenue was $1,306 million, up 70% from a year earlier, against $1,329 million in the second quarter, which is 1.7% lower by my arithmetic. Its operating margin was 30.8%, down from 32.9%.

Hanmi’s figures are preliminary. Consolidated revenue in its DART disclosure is ₩181.0 billion, up 8.9% from a year earlier but 27.9% lower than the second quarter’s ₩251.2 billion. Operating profit was ₩90.8 billion, a 50.2% margin by my arithmetic. The filing is not audited or reviewed, so the final figures may differ.

Comparing the five

The five do not report on the same basis. Advantest reports under IFRS in yen, BESI under IFRS in euros, ASMPT in Hong Kong dollars, Teradyne under US GAAP and Hanmi under K-IFRS in won. The tables below convert each to dollars at the Federal Reserve’s quarterly average rate and keep the filed figure beside it. ASMPT’s year on year growth is on a restated base without NEXX, so it does not match the third quarter 2025 revenue the company reported at the time.

What the quarter leaves out

Hanmi’s numbers come from its Korean DART filings. Only BESI’s release ties its sales to HBM, saying that its hybrid bonding orders have more than doubled this year as orders for HBM applications increased. Its orders in the quarter were €342.6 million, up 96.1% from a year earlier and 17.0% on the quarter, which the desk does not chart. I found no HBM split in the other four releases.