Comprehensive Stock Comparison
Compare Cohu, Inc. (COHU) vs Teradyne, Inc. (TER) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | TER | 13.1% revenue growth vs COHU's 12.7% |
| Value | TER | Lower P/E (50.3x vs 57.4x) |
| Quality / Margins | TER | 17.4% net margin vs COHU's -16.4% |
| Stability / Safety | COHU | Beta 1.66 vs TER's 1.90 |
| Dividends | TER | 0.2% yield; 4-year raise streak; COHU pays no meaningful dividend |
| Momentum (1Y) | TER | +191.8% vs COHU's +53.6% |
| Efficiency (ROA) | TER | 13.3% ROA vs COHU's -6.0%, ROIC 19.8% vs -6.6% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Cohu is a semiconductor test equipment manufacturer that provides handlers, contactors, thermal subsystems, and automated test equipment for chipmakers and testing subcontractors. It generates revenue primarily from equipment sales — handlers (~60%), test systems (~25%), and aftermarket services (~15%) — with a significant portion coming from the automotive and industrial sectors. The company's moat lies in its deep expertise in thermal management and mechanical handling for advanced semiconductor testing, particularly for automotive-grade chips requiring extreme temperature testing.
Teradyne is a leading manufacturer of automated test equipment used to verify semiconductor chips and electronic systems before they reach customers. It generates revenue primarily from semiconductor test systems (~70% of sales) and industrial automation robots (~20%), with the remainder from system test and wireless test equipment. The company's moat comes from its deep expertise in complex test methodologies and long-standing relationships with major semiconductor manufacturers who rely on its equipment for quality assurance.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
TER leads in 4 of 6 categories (Financial Metrics, Profitability & Efficiency). COHU leads in 1 (Valuation Metrics). 1 tied.
Financial Metrics (TTM)
TER is the larger business by revenue, generating $3.2B annually — 7.0x COHU's $453M. TER is the more profitable business, keeping 17.4% of every revenue dollar as net income compared to COHU's -16.4%. On growth, TER holds the edge at +43.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | COHUCohu, Inc. | TERTeradyne, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $453M | $3.2B |
| EBITDAEarnings before interest/tax | -$17M | $794M |
| Net IncomeAfter-tax profit | -$74M | $554M |
| Free Cash FlowCash after capex | -$26M | $450M |
| Gross MarginGross profit ÷ Revenue | +41.1% | +58.3% |
| Operating MarginEBIT ÷ Revenue | -15.0% | +20.9% |
| Net MarginNet income ÷ Revenue | -16.4% | +17.4% |
| FCF MarginFCF ÷ Revenue | -5.7% | +14.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | +29.9% | +43.9% |
| EPS Growth (YoY)Latest quarter vs prior year | -4.3% | +81.9% |
Valuation Metrics
| Metric | COHUCohu, Inc. | TERTeradyne, Inc. |
|---|---|---|
| Market CapShares × price | $1.4B | $50.1B |
| Enterprise ValueMkt cap + debt − cash | $1.3B | $50.2B |
| Trailing P/EPrice ÷ TTM EPS | -18.99x | 91.96x |
| Forward P/EPrice ÷ next-FY EPS est. | 57.41x | 50.31x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | 61.18x |
| Price / SalesMarket cap ÷ Revenue | 3.11x | 15.71x |
| Price / BookPrice ÷ Book value/share | 1.80x | 18.05x |
| Price / FCFMarket cap ÷ FCF | — | 111.28x |
Profitability & Efficiency
TER delivers a 19.8% return on equity — every $100 of shareholder capital generates $20 in annual profit, vs $-9 for COHU. TER carries lower financial leverage with a 0.12x debt-to-equity ratio, signaling a more conservative balance sheet compared to COHU's 0.46x. On the Piotroski fundamental quality scale (0–9), TER scores 6/9 vs COHU's 3/9, reflecting solid financial health.
| Metric | COHUCohu, Inc. | TERTeradyne, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | -9.5% | +19.8% |
| ROA (TTM)Return on assets | -6.0% | +13.3% |
| ROICReturn on invested capital | -6.6% | +19.8% |
| ROCEReturn on capital employed | -5.7% | +22.5% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 6 |
| Debt / EquityFinancial leverage | 0.46x | 0.12x |
| Net DebtTotal debt minus cash | -$156M | $53M |
| Cash & Equiv.Liquid assets | $484M | $294M |
| Total DebtShort + long-term debt | $359M | $347M |
| Interest CoverageEBIT ÷ Interest expense | -21.88x | 81.33x |
Total Returns (with DRIP)
A $10,000 investment in TER five years ago would be worth $24,052 today (with dividends reinvested), compared to $6,567 for COHU. Over the past 12 months, TER leads with a +191.8% total return vs COHU's +53.6%. The 3-year compound annual growth rate (CAGR) favors TER at 47.0% vs COHU's -6.7% — a key indicator of consistent wealth creation.
| Metric | COHUCohu, Inc. | TERTeradyne, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +22.7% | +54.2% |
| 1-Year ReturnPast 12 months | +53.6% | +191.8% |
| 3-Year ReturnCumulative with dividends | -18.8% | +217.8% |
| 5-Year ReturnCumulative with dividends | -34.3% | +140.5% |
| 10-Year ReturnCumulative with dividends | +173.1% | +1598.0% |
| CAGR (3Y)Annualised 3-year return | -6.7% | +47.0% |
Risk & Volatility
COHU is the less volatile stock with a 1.66 beta — it tends to amplify market swings less than TER's 1.90 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. TER currently trades 92.8% from its 52-week high vs COHU's 86.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | COHUCohu, Inc. | TERTeradyne, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.66x | 1.90x |
| 52-Week HighHighest price in past year | $34.96 | $344.92 |
| 52-Week LowLowest price in past year | $12.57 | $65.77 |
| % of 52W HighCurrent price vs 52-week peak | +86.4% | +92.8% |
| RSI (14)Momentum oscillator 0–100 | 53.9 | 68.4 |
| Avg Volume (50D)Average daily shares traded | 701K | 2.7M |
Analyst Outlook
Wall Street rates COHU as "Buy" and TER as "Buy". Consensus price targets imply 7.6% upside for COHU (target: $33) vs -13.3% for TER (target: $278). TER is the only dividend payer here at 0.15% yield — a key consideration for income-focused portfolios.
| Metric | COHUCohu, Inc. | TERTeradyne, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $32.50 | $277.58 |
| # AnalystsCovering analysts | 13 | 31 |
| Dividend YieldAnnual dividend ÷ price | — | +0.2% |
| Dividend StreakConsecutive years of raises | 0 | 4 |
| Dividend / ShareAnnual DPS | — | $0.48 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.4% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Cohu, Inc. (COHU) | 100 | 141.11 | +41.1% |
| Teradyne, Inc. (TER) | 100 | 412.51 | +312.5% |
Teradyne, Inc. (TER) returned +141% over 5 years vs Cohu, Inc. (COHU)'s -34%. A $10,000 investment in TER 5 years ago would be worth $24,052 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Cohu, Inc. (COHU) | $282M | $453M | +60.6% |
| Teradyne, Inc. (TER) | $1.8B | $3.2B | +81.9% |
Cohu, Inc.'s revenue grew from $282M (2016) to $453M (2025) — a 5.4% CAGR. Teradyne, Inc.'s revenue grew from $1.8B (2016) to $3.2B (2025) — a 6.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Cohu, Inc. (COHU) | 1.1% | -16.4% | -1622.1% |
| Teradyne, Inc. (TER) | -2.5% | 17.4% | +801.3% |
Cohu, Inc.'s net margin went from 1% (2016) to -16% (2025). Teradyne, Inc.'s net margin went from -2% (2016) to 17% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Cohu, Inc. (COHU) | 19.3 | 60 | +210.9% |
| Teradyne, Inc. (TER) | 32.7 | 55.6 | +70.0% |
Cohu, Inc. has traded in a 11x–60x P/E range over 4 years; current trailing P/E is ~-19x. Teradyne, Inc. has traded in a 13x–56x P/E range over 9 years; current trailing P/E is ~92x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Cohu, Inc. (COHU) | 0.11 | -1.59 | -1545.5% |
| Teradyne, Inc. (TER) | -0.21 | 3.48 | +1757.1% |
Cohu, Inc.'s EPS grew from $0.11 (2016) to $-1.59 (2025) — a NaN% CAGR. Teradyne, Inc.'s EPS grew from $-0.21 (2016) to $3.48 (2025).
Chart 6Free Cash Flow — 5 Years
Cohu, Inc. generated $0M FCF in 2025 (-100% vs 2021). Teradyne, Inc. generated $450M FCF in 2025 (-53% vs 2021).
COHU vs TER: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is COHU or TER a better buy right now?
Teradyne, Inc. (TER) offers the better valuation at 92.0x trailing P/E (50.3x forward), making it the more compelling value choice. Analysts rate Cohu, Inc. (COHU) a "Buy" — based on 13 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — COHU or TER?
On forward P/E, Teradyne, Inc. is actually cheaper at 50.3x.
03Which is the better long-term investment — COHU or TER?
Over the past 5 years, Teradyne, Inc. (TER) delivered a total return of +140.5%, compared to -34.3% for Cohu, Inc. (COHU). A $10,000 investment in TER five years ago would be worth approximately $24K today (assuming dividends reinvested). Over 10 years, the gap is even starker: TER returned +1598% versus COHU's +173.1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — COHU or TER?
By beta (market sensitivity over 5 years), Cohu, Inc. (COHU) is the lower-risk stock at 1.66β versus Teradyne, Inc.'s 1.90β — meaning TER is approximately 14% more volatile than COHU relative to the S&P 500. On balance sheet safety, Teradyne, Inc. (TER) carries a lower debt/equity ratio of 12% versus 46% for Cohu, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — COHU or TER?
Teradyne, Inc. (TER) is the more profitable company, earning 17.4% net margin versus -16.4% for Cohu, Inc. — meaning it keeps 17.4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: TER leads at 21.7% versus -12.9% for COHU. At the gross margin level — before operating expenses — TER leads at 58.6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is COHU or TER more undervalued right now?
On forward earnings alone, Teradyne, Inc. (TER) trades at 50.3x forward P/E versus 57.4x for Cohu, Inc. — 7.1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for COHU: 7.6% to $32.50.
07Which pays a better dividend — COHU or TER?
In this comparison, TER (0.2% yield) pays a dividend. COHU does not pay a meaningful dividend and should not be held primarily for income.
08Is COHU or TER better for a retirement portfolio?
For long-horizon retirement investors, Teradyne, Inc. (TER) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+1598% 10Y return). Cohu, Inc. (COHU) carries a higher beta of 1.66 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (TER: +1598%, COHU: +173.1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between COHU and TER?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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