TRT
Trio-Tech International
Semiconductors
Market Cap$101M
5Y Perf.+308.5%
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Stock Comparison
TRT vs ONTO vs COHU vs FORM
Revenue, margins, valuation, and 5-year total return — side by side.
ONTO
Onto Innovation Inc.
Semiconductors
Market Cap$13.63B
5Y Perf.+781.7%
COHU
Cohu, Inc.
Semiconductors
Market Cap$2.23B
5Y Perf.+215.3%
FORM
FormFactor, Inc.
Semiconductors
Market Cap$11.28B
5Y Perf.+474.8%
TRT vs ONTO vs COHU vs FORM — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | TRT | ONTO | COHU | FORM |
|---|---|---|---|---|
| Industry | Semiconductors | Semiconductors | Semiconductors | Semiconductors |
| Market Cap | $101M | $13.63B | $2.23B | $11.28B |
| Revenue (TTM) | $49M | $1.03B | $481M | $840M |
| Net Income (TTM) | $-109K | $106M | $-56M | $68M |
| Gross Margin | 19.7% | 48.8% | 25.7% | 42.1% |
| Operating Margin | 0.5% | 10.0% | -10.6% | 12.7% |
| Forward P/E | — | 38.7x | 89.2x | 66.5x |
| Total Debt | $2M | $17M | $359M | $45M |
| Cash & Equiv. | $11M | $346M | $227M | $103M |
TRT vs ONTO vs COHU vs FORM — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
TRT
ONTO
COHU
FORM
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Trio-Tech Internati… (TRT) | 100 | 408.5 | +308.5% |
| Onto Innovation Inc. (ONTO) | 100 | 881.7 | +781.7% |
| Cohu, Inc. (COHU) | 100 | 315.3 | +215.3% |
| FormFactor, Inc. (FORM) | 100 | 574.8 | +474.8% |
Price return only. Dividends and distributions are not included.
Quick Verdict: TRT vs ONTO vs COHU vs FORM
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: ONTO and FORM are tied at the top with 2 categories each — the right choice depends on your priorities. FormFactor, Inc. is the stronger pick specifically for recent price momentum and sentiment and operational efficiency and capital deployment. TRT and COHU also each lead in at least one category. As sector peers, any of these can serve as alternatives in the same allocation.
TRT
Trio-Tech International
The Income Pick
TRT is the clearest fit if your priority is income & stability and sleep-well-at-night.
- Dividend streak 0 yrs, beta 0.52
- Lower volatility, beta 0.52, Low D/E 5.1%, current ratio 5.03x
- Beta 0.52, current ratio 5.03x
- Beta 0.52 vs ONTO's 2.66
Best for: income & stability and sleep-well-at-night
ONTO
Onto Innovation Inc.
The Value Play
ONTO has the current edge in this matchup, primarily because of its strength in value and quality.
- Lower P/E (38.7x vs 66.5x)
- 10.3% margin vs COHU's -11.5%
Best for: value and quality
COHU
Cohu, Inc.
The Growth Play
COHU is the clearest fit if your priority is growth exposure.
- Rev growth 12.7%, EPS growth -6.7%, 3Y rev CAGR -17.7%
- 12.7% revenue growth vs TRT's -13.8%
Best for: growth exposure
FORM
FormFactor, Inc.
The Long-Run Compounder
FORM is the #2 pick in this set and the best alternative if long-term compounding is your priority.
- 19.5% 10Y total return vs ONTO's 14.3%
- +387.8% vs ONTO's +118.9%
- 5.6% ROA vs COHU's -4.9%, ROIC 5.4% vs -5.7%
Best for: long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | COHU | 12.7% revenue growth vs TRT's -13.8% |
| Value | ONTO | Lower P/E (38.7x vs 66.5x) |
| Quality / Margins | ONTO | 10.3% margin vs COHU's -11.5% |
| Stability / Safety | TRT | Beta 0.52 vs ONTO's 2.66 |
| Dividends | Tie | None of these 4 stocks pay a meaningful dividend |
| Momentum (1Y) | FORM | +387.8% vs ONTO's +118.9% |
| Efficiency (ROA) | FORM | 5.6% ROA vs COHU's -4.9%, ROIC 5.4% vs -5.7% |
TRT vs ONTO vs COHU vs FORM — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
FY 2014
FY 2025
TRT vs ONTO vs COHU vs FORM — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLONTOLAGGINGCOHU
Who Leads Where
ONTO leads in 2 of 6 categories
TRT leads 1 • FORM leads 1 • COHU leads 0 • 1 tied
Explore the data ↓COHUCohu, Inc.
0leads
FORMFormFactor, Inc.
1leads
TRTTrio-Tech Internation…
1leads
ONTOOnto Innovation Inc.
2leads
6 Total Categories
CATEGORYLEADERvs TRTvs FORMMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
ONTO3/6
Valuation MetricsMultiples, price ratios, and targets
TRT3/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
ONTO4/8
Total Returns1Y, 3Y, 5Y total returns with dividends
FORM5/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
ONTO leads this category, winning 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
ONTO is the larger business by revenue, generating $1.0B annually — 20.9x TRT's $49M. ONTO is the more profitable business, keeping 10.3% of every revenue dollar as net income compared to COHU's -11.5%. On growth, TRT holds the edge at +81.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | TRTTrio-Tech Interna… | ONTOOnto Innovation I… | COHUCohu, Inc. | FORMFormFactor, Inc. |
|---|---|---|---|---|
| RevenueTrailing 12 months | $49M | $1.0B | $481M | $840M |
| EBITDAEarnings before interest/tax | $3M | $158M | -$11M | $152M |
| Net IncomeAfter-tax profit | -$109,000 | $106M | -$56M | $68M |
| Free Cash FlowCash after capex | $137,000 | $239M | $32M | -$5M |
| Gross MarginGross profit ÷ Revenue | +19.7% | +48.8% | +25.7% | +42.1% |
| Operating MarginEBIT ÷ Revenue | +0.5% | +10.0% | -10.6% | +12.7% |
| Net MarginNet income ÷ Revenue | -0.2% | +10.3% | -11.5% | +8.1% |
| FCF MarginFCF ÷ Revenue | +0.3% | +23.2% | +6.6% | -0.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +81.6% | +9.5% | +29.3% | +32.0% |
| EPS Growth (YoY)Latest quarter vs prior year | -76.0% | -48.5% | +60.6% | +2.2% |
ONTO leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
TRT leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
At 98.6x trailing earnings, ONTO trades at a 53% valuation discount to FORM's 209.7x P/E. On an enterprise value basis, TRT's 30.8x EV/EBITDA is more attractive than FORM's 100.9x.
| Metric | TRTTrio-Tech Interna… | ONTOOnto Innovation I… | COHUCohu, Inc. | FORMFormFactor, Inc. |
|---|---|---|---|---|
| Market CapShares × price | $101M | $13.6B | $2.2B | $11.3B |
| Enterprise ValueMkt cap + debt − cash | $92M | $13.3B | $2.4B | $11.2B |
| Trailing P/EPrice ÷ TTM EPS | -2416.67x | 98.57x | -29.86x | 209.68x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 38.74x | 89.21x | 66.48x |
| PEG RatioP/E ÷ EPS growth rate | — | 2.85x | — | — |
| EV / EBITDAEnterprise value multiple | 30.78x | 68.79x | — | 100.94x |
| Price / SalesMarket cap ÷ Revenue | 2.78x | 13.56x | 4.93x | 14.37x |
| Price / BookPrice ÷ Book value/share | 2.98x | 6.43x | 2.82x | 10.94x |
| Price / FCFMarket cap ÷ FCF | — | 45.47x | 207.83x | 960.69x |
TRT leads this category, winning 3 of 6 comparable metrics.
Profitability & Efficiency
ONTO leads this category, winning 4 of 8 comparable metrics.
Profitability & Efficiency
FORM delivers a 6.7% return on equity — every $100 of shareholder capital generates $7 in annual profit, vs $-7 for COHU. ONTO carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to COHU's 0.46x.
| Metric | TRTTrio-Tech Interna… | ONTOOnto Innovation I… | COHUCohu, Inc. | FORMFormFactor, Inc. |
|---|---|---|---|---|
| ROE (TTM)Return on equity | -0.3% | +5.2% | -6.8% | +6.7% |
| ROA (TTM)Return on assets | -0.2% | +4.7% | -4.9% | +5.6% |
| ROICReturn on invested capital | +0.8% | +5.7% | -5.7% | +5.4% |
| ROCEReturn on capital employed | +0.7% | +6.5% | -5.9% | +6.1% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 4 | 4 | 4 |
| Debt / EquityFinancial leverage | 0.05x | 0.01x | 0.46x | 0.04x |
| Net DebtTotal debt minus cash | -$9M | -$329M | $132M | -$58M |
| Cash & Equiv.Liquid assets | $11M | $346M | $227M | $103M |
| Total DebtShort + long-term debt | $2M | $17M | $359M | $45M |
| Interest CoverageEBIT ÷ Interest expense | 0.57x | — | -168.82x | 252.69x |
ONTO leads this category, winning 4 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
FORM leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in ONTO five years ago would be worth $41,263 today (with dividends reinvested), compared to $12,218 for COHU. Over the past 12 months, FORM leads with a +387.8% total return vs ONTO's +118.9%. The 3-year compound annual growth rate (CAGR) favors FORM at 72.9% vs COHU's 12.1% — a key indicator of consistent wealth creation.
| Metric | TRTTrio-Tech Interna… | ONTOOnto Innovation I… | COHUCohu, Inc. | FORMFormFactor, Inc. |
|---|---|---|---|---|
| YTD ReturnYear-to-date | -6.8% | +65.2% | +92.9% | +144.4% |
| 1-Year ReturnPast 12 months | +121.8% | +118.9% | +199.7% | +387.8% |
| 3-Year ReturnCumulative with dividends | +169.5% | +218.0% | +40.7% | +417.3% |
| 5-Year ReturnCumulative with dividends | +124.8% | +312.6% | +22.2% | +273.9% |
| 10-Year ReturnCumulative with dividends | +248.3% | +1431.7% | +330.2% | +1952.2% |
| CAGR (3Y)Annualised 3-year return | +39.2% | +47.1% | +12.1% | +72.9% |
FORM leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
Evenly matched — TRT and COHU each lead in 1 of 2 comparable metrics.
Risk & Volatility
TRT is the less volatile stock with a 0.52 beta — it tends to amplify market swings less than ONTO's 2.66 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. COHU currently trades 93.7% from its 52-week high vs TRT's 60.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | TRTTrio-Tech Interna… | ONTOOnto Innovation I… | COHUCohu, Inc. | FORMFormFactor, Inc. |
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.52x | 2.66x | 2.13x | 2.02x |
| 52-Week HighHighest price in past year | $19.10 | $315.86 | $50.68 | $159.09 |
| 52-Week LowLowest price in past year | $4.42 | $85.88 | $15.34 | $26.08 |
| % of 52W HighCurrent price vs 52-week peak | +60.7% | +86.8% | +93.7% | +90.9% |
| RSI (14)Momentum oscillator 0–100 | 58.4 | 61.0 | 75.5 | 66.5 |
| Avg Volume (50D)Average daily shares traded | 1.0M | 832K | 953K | 1.6M |
Evenly matched — TRT and COHU each lead in 1 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Analyst consensus: ONTO as "Buy", COHU as "Buy", FORM as "Hold". Consensus price targets imply 12.5% upside for ONTO (target: $308) vs -14.7% for FORM (target: $123).
| Metric | TRTTrio-Tech Interna… | ONTOOnto Innovation I… | COHUCohu, Inc. | FORMFormFactor, Inc. |
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy | Buy | Hold |
| Price TargetConsensus 12-month target | — | $308.33 | $49.75 | $123.38 |
| # AnalystsCovering analysts | — | 11 | 14 | 19 |
| Dividend YieldAnnual dividend ÷ price | — | — | — | — |
| Dividend StreakConsecutive years of raises | 0 | — | 0 | — |
| Dividend / ShareAnnual DPS | — | — | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.6% | +0.3% | +0.2% |
Insufficient data to determine a leader in this category.
Key Takeaway
ONTO leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). TRT leads in 1 (Valuation Metrics). 1 tied.
Best OverallOnto Innovation Inc. (ONTO)Leads 2 of 6 categories
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TRT vs ONTO vs COHU vs FORM: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is TRT or ONTO or COHU or FORM a better buy right now?
For growth investors, Cohu, Inc.
(COHU) is the stronger pick with 12. 7% revenue growth year-over-year, versus -13. 8% for Trio-Tech International (TRT). Onto Innovation Inc. (ONTO) offers the better valuation at 98. 6x trailing P/E (38. 7x forward), making it the more compelling value choice. Analysts rate Onto Innovation Inc. (ONTO) a "Buy" — based on 11 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 — TRT or ONTO or COHU or FORM?
On trailing P/E, Onto Innovation Inc.
(ONTO) is the cheapest at 98. 6x versus FormFactor, Inc. at 209. 7x. On forward P/E, Onto Innovation Inc. is actually cheaper at 38. 7x.
03Which is the better long-term investment — TRT or ONTO or COHU or FORM?
Over the past 5 years, Onto Innovation Inc.
(ONTO) delivered a total return of +312. 6%, compared to +22. 2% for Cohu, Inc. (COHU). Over 10 years, the gap is even starker: FORM returned +1952% versus TRT's +248. 3%. 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 — TRT or ONTO or COHU or FORM?
By beta (market sensitivity over 5 years), Trio-Tech International (TRT) is the lower-risk stock at 0.
52β versus Onto Innovation Inc. 's 2. 66β — meaning ONTO is approximately 408% more volatile than TRT relative to the S&P 500. On balance sheet safety, Onto Innovation Inc. (ONTO) carries a lower debt/equity ratio of 1% versus 46% for Cohu, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — TRT or ONTO or COHU or FORM?
By revenue growth (latest reported year), Cohu, Inc.
(COHU) is pulling ahead at 12. 7% versus -13. 8% for Trio-Tech International (TRT). On earnings-per-share growth, the picture is similar: Cohu, Inc. grew EPS -6. 7% year-over-year, compared to -104. 0% for Trio-Tech International. Over a 3-year CAGR, FORM leads at 1. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — TRT or ONTO or COHU or FORM?
Onto Innovation Inc.
(ONTO) is the more profitable company, earning 13. 6% net margin versus -16. 4% for Cohu, Inc. — meaning it keeps 13. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ONTO leads at 13. 2% versus -13. 3% for COHU. At the gross margin level — before operating expenses — ONTO leads at 49. 7%, 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.
07Is TRT or ONTO or COHU or FORM more undervalued right now?
On forward earnings alone, Onto Innovation Inc.
(ONTO) trades at 38. 7x forward P/E versus 89. 2x for Cohu, Inc. — 50. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ONTO: 12. 5% to $308. 33.
08Which pays a better dividend — TRT or ONTO or COHU or FORM?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
09Is TRT or ONTO or COHU or FORM better for a retirement portfolio?
For long-horizon retirement investors, Trio-Tech International (TRT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
52), +248. 3% 10Y return). Cohu, Inc. (COHU) carries a higher beta of 2. 13 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (TRT: +248. 3%, COHU: +330. 2%), 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.
10What are the main differences between TRT and ONTO and COHU and FORM?
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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