Cohu, Inc. (COHU) 10-Year Financial Performance & Capital Metrics

COHU •

TechnologySemiconductorsSemiconductor Test, Metrology and Inspection Equipment

AboutCohu, Inc., through its subsidiaries, provides semiconductor test equipment and services in China, the United States, Taiwan, Malaysia, the Philippines, and internationally. The company supplies semiconductor test and inspection handlers, micro-electromechanical system (MEMS) test modules, test contactors, thermal sub-systems, and semiconductor automated test equipment for semiconductor and electronics manufacturers, and test subcontractors. It also provides semiconductor automated test equipment for wafer level and device package testing; various test handlers, including pick-and-place, turret, gravity, strip, and MEMS and thermal sub-systems; interface products comprising test contactors, and probe heads and pins; spares and kits; various parts and labor warranties on test and handling systems, and instruments; and training on the maintenance and operation of its systems, as well as application, data management software, and consulting services on its products. In addition, the company offers data analytics product that includes DI-Core, a software suite used to optimize Cohu equipment performance, which provides real-time online performance monitoring and process control. It markets its products through direct sales force and independent sales representatives. The company was formerly known as Cohu Electronics, Inc. and changed its name to Cohu, Inc. in 1972. Cohu, Inc. was incorporated in 1947 and is headquartered in Poway, California.Show more

Revenue $453M +12.7%
EBITDA -$8M +59.4%
Net Income -$74M -6.4%
EPS (Diluted) -1.59 -6.7%
Gross Margin 34.09% -23.8%
EBITDA Margin -1.72% +64.0%
Operating Margin -12.91% +27.6%
Net Margin -16.4% +5.6%
ROE -9.04% -17.0%
ROIC -6.59% +12.1%
Debt/Equity 0.46 +1997.6%
Interest Coverage -28.47 +75.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 87 (top 13%)

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Sales declining 6.6% over 5 years
✗Thin 5Y average net margin of 0.3%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.32%

5Y-6.56%

3Y-17.71%

TTM12.74%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-6.38%

EPS CAGR

10Y-

5Y-

3Y-

TTM-5.85%

ROCE

10Y Avg2.69%

5Y Avg4.64%

3Y Avg-2.97%

Latest-5.71%

Peer Comparison

Semiconductor Test, Metrology and Inspection Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FORMFormFactor, Inc.	7.63B	98.88	111.10	15.16%	6.78%	5.14%	1.04%	0.04
TERTeradyne, Inc.	50.12B	320.03	91.96	13.13%	17.37%	19.82%	0.9%	0.12
NVMINova Ltd.	12.85B	438.86	76.32	29.83%	29.44%	19.66%	1.7%	0.25
CAMTCamtek Ltd.	7.18B	167.39	69.17	36.1%	28.36%	21.35%		0.38
ONTOOnto Innovation Inc.	10.63B	215.89	53.17	21.01%	17.46%	8.74%	2.01%	0.01
KLACKLA Corporation	201.28B	1524.55	50.20	23.89%	35.76%	83.39%	1.86%	1.30
INTTinTEST Corporation	144.21M	11.65	48.54	5.99%	-2.22%	-2.44%	1.73%	0.26
COHUCohu, Inc.	1.41B	30.20	-18.99	12.74%	-16.4%	-9.46%		0.46

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	282.08M	352.7M	451.77M	583.33M	636.01M	887.21M	812.77M	636.32M	401.78M	452.96M
Revenue Growth %	4.61%	25.04%	28.09%	29.12%	9.03%	39.5%	-8.39%	-21.71%	-36.86%	12.74%
Cost of Goods Sold+	182.09M	209.3M	273.41M	353.5M	360.49M	500.81M	429.9M	333.52M	221.95M	298.56M
COGS % of Revenue	64.55%	59.34%	60.52%	60.6%	56.68%	56.45%	52.89%	52.41%	55.24%	65.91%
Gross Profit+	100M	143.41M	178.36M	229.83M	275.51M	386.4M	382.87M	302.81M	179.83M	154.4M
Gross Margin %	35.45%	40.66%	39.48%	39.4%	43.32%	43.55%	47.11%	47.59%	44.76%	34.09%
Gross Profit Growth %	12.31%	43.41%	24.37%	28.86%	19.88%	40.25%	-0.91%	-20.91%	-40.61%	-14.14%
Operating Expenses+	96.95M	105.68M	208.14M	282.16M	272.25M	184.88M	257.31M	259.53M	251.5M	212.87M
OpEx % of Revenue	34.37%	29.96%	46.07%	48.37%	42.81%	20.84%	31.66%	40.79%	62.6%	47%
Selling, General & Admin	52.81M	60.74M	96.75M	142.94M	129.25M	126.96M	131.39M	130.65M	127.84M	120.66M
SG&A % of Revenue	18.72%	17.22%	21.42%	24.5%	20.32%	14.31%	16.17%	20.53%	31.82%	26.64%
Research & Development	34.84M	40.74M	56.43M	86.15M	86.15M	91.96M	92.59M	88.57M	84.8M	92.21M
R&D % of Revenue	12.35%	11.55%	12.49%	14.77%	13.55%	10.37%	11.39%	13.92%	21.11%	20.36%
Other Operating Expenses	7.7M	4.21M	54.95M	53.07M	56.85M	-34.04M	33.34M	40.31M	38.86M	0
Operating Income+	3.04M	37.73M	-29.78M	-52.33M	3.26M	201.52M	125.56M	43.27M	-71.67M	-58.48M
Operating Margin %	1.08%	10.7%	-6.59%	-8.97%	0.51%	22.71%	15.45%	6.8%	-17.84%	-12.91%
Operating Income Growth %	-61.77%	1139.73%	-178.94%	-75.71%	106.23%	6081.53%	-37.69%	-65.54%	-265.62%	18.41%
EBITDA+	13.46M	46.92M	-3.73M	6.54M	56.01M	250.09M	171.57M	93.02M	-19.18M	-7.79M
EBITDA Margin %	4.77%	13.3%	-0.83%	1.12%	8.81%	28.19%	21.11%	14.62%	-4.77%	-1.72%
EBITDA Growth %	-30.04%	248.72%	-107.96%	275.23%	755.97%	346.53%	-31.39%	-45.79%	-120.62%	59.38%
D&A (Non-Cash Add-back)	10.41M	9.2M	26.05M	58.87M	52.75M	48.57M	46.02M	49.74M	52.49M	50.69M
EBIT	5.44M	37.73M	7.98M	-51.52M	21.37M	132.07M	125.71M	47.23M	-71.89M	-58.48M
Net Interest Income+	342K	617K	-3.79M	-19.79M	-13.54M	-6.17M	-165K	8.12M	9.36M	5.99M
Interest Income	342K	671K	1.19M	764K	224K	239K	4.01M	11.5M	9.98M	8.04M
Interest Expense	0	54K	4.98M	20.56M	13.76M	6.41M	4.18M	3.38M	618K	2.05M
Other Income/Expense	342K	617K	-2.13M	-19.75M	-16.44M	-9.17M	1.16M	2.54M	6.72M	-3.93M
Pretax Income+	6.01M	35.37M	-31.91M	-72.08M	-13.18M	192.34M	126.72M	45.82M	-64.95M	-62.41M
Pretax Margin %	2.13%	10.03%	-7.06%	-12.36%	-2.07%	21.68%	15.59%	7.2%	-16.16%	-13.78%
Income Tax+	2.75M	2.24M	631K	-3.08M	666K	25.02M	29.87M	17.66M	4.87M	11.87M
Effective Tax Rate %	50.59%	92.87%	100.84%	96.7%	105.05%	86.99%	76.43%	61.45%	107.5%	119.01%
Net Income+	3.04M	32.84M	-32.18M	-69.7M	-13.84M	167.32M	96.85M	28.16M	-69.82M	-74.27M
Net Margin %	1.08%	9.31%	-7.12%	-11.95%	-2.18%	18.86%	11.92%	4.42%	-17.38%	-16.4%
Net Income Growth %	1115.6%	980.72%	-197.98%	-116.59%	80.14%	1308.73%	-42.12%	-70.93%	-347.97%	-6.38%
Net Income (Continuing)	3.26M	33.12M	-32.54M	-69M	-13.84M	167.32M	96.85M	28.16M	-69.82M	-74.27M
Discontinued Operations	0	0	119K	-697K	42K	0	0	0	0	0
Minority Interest	0	0	-299K	0	0	0	0	0	0	0
EPS (Diluted)+	0.11	1.14	-1.01	-1.68	-0.33	3.45	1.98	0.59	-1.49	-1.59
EPS Growth %	1000%	936.36%	-188.6%	-66.34%	80.36%	1145.45%	-42.61%	-70.2%	-352.54%	-6.71%
EPS (Basic)	0.11	1.18	-1.02	-1.68	-0.33	3.53	2.01	0.59	-1.49	-1.59
Diluted Shares Outstanding	27.48M	28.92M	31.78M	41.16M	41.85M	48.46M	48.8M	48.02M	46.91M	46.72M
Basic Shares Outstanding	26.66M	27.84M	31.67M	41.16M	41.85M	47.41M	48.18M	47.49M	46.91M	46.72M
Dividend Payout Ratio	208.98%	20.03%	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	245.15M	297.44M	485.24M	439.7M	485.05M	750.79M	764.85M	638.82M	534.31M	749.99M
Cash & Short-Term Investments	128.03M	155.62M	165.02M	156.1M	170.03M	379.9M	385.58M	335.7M	262.09M	483.98M
Cash Only	96.05M	134.29M	164.46M	155.19M	149.36M	290.2M	242.34M	245.52M	206.41M	483.98M
Short-Term Investments	31.99M	21.33M	560K	904K	20.67M	89.7M	143.24M	90.17M	55.69M	0
Accounts Receivable	63.02M	71.13M	149.28M	127.92M	151.92M	192.87M	176.15M	124.62M	91.62M	108.75M
Days Sales Outstanding	81.54	73.6	120.61	80.04	87.19	79.35	79.1	71.49	83.23	87.64
Inventory	45.5M	62.09M	139.31M	130.71M	142.5M	161.05M	170.14M	155.79M	141.86M	129.01M
Days Inventory Outstanding	91.21	108.27	185.99	134.96	144.28	117.38	144.45	170.5	233.29	157.71
Other Current Assets	8.59M	275K	5.42M	7.49M	1.83M	768K	8.97M	5.01M	19.44M	28.25M
Total Non-Current Assets+	100.36M	123.02M	648.76M	637.98M	605.28M	508.25M	462.56M	511.53M	465.11M	492.99M
Property, Plant & Equipment	18.23M	34.17M	74.33M	104.18M	96.12M	89.02M	87.81M	85.86M	88.69M	106.26M
Fixed Asset Turnover	15.47x	10.32x	6.08x	5.60x	6.62x	9.97x	9.26x	7.41x	4.53x	4.26x
Goodwill	58.85M	65.61M	242.13M	238.67M	252.3M	219.79M	213.54M	241.66M	234.64M	283.03M
Intangible Assets	17.84M	16.75M	318.96M	274.99M	233.67M	177.32M	140.1M	151.77M	110.72M	79.27M
Long-Term Investments	-5.85M	1.06M	-38.94M	0	0	0	0	0	0	0
Other Non-Current Assets	5.45M	6.49M	13.34M	20.14M	23.19M	22.12M	21.11M	32.24M	31.06M	24.43M
Total Assets+	345.51M	420.46M	1.13B	1.08B	1.09B	1.26B	1.23B	1.15B	999.41M	1.24B
Asset Turnover	0.82x	0.84x	0.40x	0.54x	0.58x	0.70x	0.66x	0.55x	0.40x	0.36x
Asset Growth %	0.05%	21.69%	169.71%	-4.96%	1.17%	15.47%	-2.51%	-6.28%	-13.12%	24.37%
Total Current Liabilities+	68.69M	85.27M	160.59M	148.88M	174.45M	192.46M	160.87M	103.42M	85.18M	109.08M
Accounts Payable	31.44M	37.56M	48.12M	48.7M	67.92M	85.23M	51.76M	33.6M	30.55M	0
Days Payables Outstanding	63.03	65.5	64.24	50.28	68.77	62.12	43.95	36.77	50.25	-
Short-Term Debt	0	4.39M	6.79M	6.52M	8.39M	19.45M	11.29M	6.32M	1.75M	11.05M
Deferred Revenue (Current)	6.89M	6.61M	6.9M	19.8M	23.08M	20.51M	14.91M	8.33M	6.35M	8.63M
Other Current Liabilities	13.67M	14.38M	58.33M	24.34M	34.86M	20.56M	17.92M	14.11M	44.13M	89.4M
Current Ratio	3.57x	3.49x	3.02x	2.95x	2.78x	3.90x	4.75x	6.18x	6.27x	6.88x
Quick Ratio	2.91x	2.76x	2.15x	2.08x	1.96x	3.06x	3.70x	4.67x	4.61x	5.69x
Cash Conversion Cycle	109.72	116.38	242.35	164.72	162.69	134.61	179.61	205.21	266.28	-
Total Non-Current Liabilities+	41.35M	46.1M	427.47M	445.75M	403.61M	184.08M	137.7M	96.76M	57.34M	348.37M
Long-Term Debt	0	4.58M	346.04M	346.52M	311.55M	103.39M	72.66M	34.3M	7.05M	316.72M
Capital Lease Obligations	0	0	2.61M	28.88M	25.79M	22.04M	19.21M	13.18M	9.89M	31.69M
Deferred Tax Liabilities	5.85M	2.92M	38.94M	31.31M	28.82M	25.89M	21.36M	23.15M	19.4M	0
Other Non-Current Liabilities	35.5M	37.8M	37.87M	39.05M	37.45M	26.66M	18.97M	26.13M	20.99M	-47K
Total Liabilities	110.04M	131.37M	588.06M	594.64M	578.06M	376.54M	298.57M	200.18M	142.52M	457.44M
Total Debt+	0	8.96M	352.83M	381.91M	345.73M	144.88M	103.16M	58.94M	18.69M	359.46M
Net Debt	-96.05M	-125.32M	188.37M	226.72M	196.37M	-145.32M	-139.18M	-186.59M	-187.71M	-156.21M
Debt / Equity	-	0.03x	0.65x	0.79x	0.67x	0.16x	0.11x	0.06x	0.02x	0.46x
Debt / EBITDA	-	0.19x	-	58.37x	6.17x	0.58x	0.60x	0.63x	-	-
Net Debt / EBITDA	-7.14x	-2.67x	-	34.65x	3.51x	-0.58x	-0.81x	-2.01x	-	-
Interest Coverage	-	698.61x	-5.98x	-2.55x	0.24x	31.42x	30.06x	12.79x	-115.97x	-28.47x
Total Equity+	235.47M	289.09M	545.94M	483.07M	512.29M	882.5M	928.84M	950.17M	856.89M	785.54M
Equity Growth %	-1.12%	22.77%	88.85%	-11.52%	6.05%	72.27%	5.25%	2.3%	-9.82%	-8.33%
Book Value per Share	8.57	10.00	17.18	11.74	12.24	18.21	19.03	19.78	18.27	16.81
Total Shareholders' Equity	235.47M	289.09M	546.24M	483.07M	512.29M	882.5M	928.84M	950.17M	856.89M	785.54M
Common Stock	26.84M	28.49M	40.76M	41.4M	42.19M	48.76M	49.28M	49.43M	49.6M	0
Retained Earnings	124.56M	150.73M	111.67M	42.52M	26.23M	193.56M	290.4M	318.56M	248.74M	0
Treasury Stock	0	0	0	0	0	-7.32M	-58.04M	-69.18M	-87.78M	0
Accumulated OCI	-27.88M	-17.79M	-25.88M	-34.03M	-4.33M	-27.26M	-40.01M	-34.78M	-51.16M	0
Minority Interest	0	0	-299K	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	24.55M	39.75M	34.44M	17.27M	49.73M	97.73M	112.86M	101.47M	2.78M	0
Operating CF Margin %	8.7%	11.27%	7.62%	2.96%	7.82%	11.02%	13.89%	15.95%	0.69%	-
Operating CF Growth %	14.28%	61.93%	-13.37%	-49.85%	188%	96.5%	15.48%	-10.09%	-97.26%	-100%
Net Income	3.04M	32.84M	-32.42M	-69.69M	-13.8M	167.32M	96.85M	28.16M	-69.82M	-74.27M
Depreciation & Amortization	10.41M	9.2M	26.05M	58.87M	52.75M	48.57M	46.02M	49.74M	52.49M	37.47M
Stock-Based Compensation	7.14M	7.01M	18.28M	14.15M	14.23M	13.79M	14.92M	17.24M	20.74M	0
Deferred Taxes	-1.06M	-3.79M	-8.21M	-5.38M	-5.3M	953K	-3.5M	-4.77M	-3.72M	0
Other Non-Cash Items	1.34M	5.87M	21.81M	13.77M	14.8M	-61.15M	7.53M	694K	6.97M	36.81M
Working Capital Changes	3.68M	-11.37M	8.94M	5.55M	-12.94M	-71.76M	-48.94M	10.41M	-3.88M	0
Change in Receivables	-4.62M	-3.26M	5.79M	21.15M	-20.21M	-59.12M	12.45M	61.9M	34.85M	0
Change in Inventory	4.61M	-12.2M	2.04M	26K	-14.98M	-35.86M	-18.51M	12.84M	4.98M	745K
Change in Payables	5.68M	4.16M	-7.1M	-3.12M	15.06M	17.32M	-33.13M	-21.36M	-3.56M	0
Cash from Investing+	-32.92M	-7.04M	-322.31M	-16.55M	-18.36M	39.89M	-67.87M	-30.21M	21.92M	0
Capital Expenditures	-3.45M	-6.09M	-4.97M	-18M	-18.66M	-12M	-14.77M	-16.05M	-10.63M	0
CapEx % of Revenue	1.22%	1.73%	1.1%	3.09%	2.93%	1.35%	1.82%	2.52%	2.65%	-
Acquisitions	874K	-11.72M	-339.12M	0	2.98M	120.89M	0	-69.73M	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	874K	104K	1M	1.77M	17.02M	157K	349K	216K	-3.1M	0
Cash from Financing+	-6.71M	2.15M	322.11M	-8.18M	-38.07M	6.53M	-91.07M	-68.14M	-59.03M	0
Debt Issued (Net)	0	-1.63M	345.93M	1.66M	-35.18M	-204.88M	-38.39M	-38.84M	-31.35M	0
Equity Issued (Net)	-356K	1000K	-1000K	0	0	1000K	-1000K	-1000K	-1000K	0
Dividends Paid	-6.35M	-6.58M	-6.95M	-9.83M	-4.97M	0	0	0	0	0
Share Repurchases	-356K	0	-8.98M	0	0	-7.32M	-50.72M	-23.64M	-26.99M	0
Other Financing	0	0	-7.89M	-16K	2.08M	-4.39M	-1.96M	-5.66M	-701K	0
Net Change in Cash	-19.32M	38.24M	30.64M	-8.99M	-6.57M	140.84M	-47.86M	3.18M	-39.12M	0
Free Cash Flow+	21.1M	33.66M	29.47M	-731K	31.07M	85.73M	98.09M	85.42M	-7.86M	0
FCF Margin %	7.48%	9.54%	6.52%	-0.13%	4.89%	9.66%	12.07%	13.42%	-1.96%	-
FCF Growth %	41.64%	59.54%	-12.44%	-102.48%	4350.89%	175.89%	14.42%	-12.92%	-109.2%	100%
FCF per Share	0.77	1.16	0.93	-0.02	0.74	1.77	2.01	1.78	-0.17	-
FCF Conversion (FCF/Net Income)	8.08x	1.21x	-1.07x	-0.25x	-3.59x	0.58x	1.17x	3.60x	-0.04x	-
Interest Paid	0	0	4.98M	14.85M	16.32M	6.25M	3.44M	3.42M	803K	0
Taxes Paid	6.81M	7.09M	6.24M	14.94M	5.77M	22.72M	23.12M	44.28M	24.93M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	1.28%	12.52%	-7.71%	-13.55%	-2.78%	23.99%	10.69%	3%	-7.73%	-9.04%
Return on Invested Capital (ROIC)	1.74%	18.66%	-4.97%	-5.44%	0.34%	20.91%	12.34%	4.18%	-7.5%	-6.59%
Gross Margin	35.45%	40.66%	39.48%	39.4%	43.32%	43.55%	47.11%	47.59%	44.76%	34.09%
Net Margin	1.08%	9.31%	-7.12%	-11.95%	-2.18%	18.86%	11.92%	4.42%	-17.38%	-16.4%
Debt / Equity	-	0.03x	0.65x	0.79x	0.67x	0.16x	0.11x	0.06x	0.02x	0.46x
Interest Coverage	-	698.61x	-5.98x	-2.55x	0.24x	31.42x	30.06x	12.79x	-115.97x	-28.47x
FCF Conversion	8.08x	1.21x	-1.07x	-0.25x	-3.59x	0.58x	1.17x	3.60x	-0.04x	-
Revenue Growth	4.61%	25.04%	28.09%	29.12%	9.03%	39.5%	-8.39%	-21.71%	-36.86%	12.74%

US Stock Screener

...

Cohu, Inc. (COHU) 10-Year Financial Performance & Capital Metrics

COHU •

TechnologySemiconductorsSemiconductor Test, Metrology and Inspection Equipment

Revenue $453M +12.7%
EBITDA -$8M +59.4%
Net Income -$74M -6.4%
EPS (Diluted) -1.59 -6.7%
Gross Margin 34.09% -23.8%
EBITDA Margin -1.72% +64.0%
Operating Margin -12.91% +27.6%
Net Margin -16.4% +5.6%
ROE -9.04% -17.0%
ROIC -6.59% +12.1%
Debt/Equity 0.46 +1997.6%
Interest Coverage -28.47 +75.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 87 (top 13%)

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Sales declining 6.6% over 5 years
✗Thin 5Y average net margin of 0.3%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y5.32%

5Y-6.56%

3Y-17.71%

TTM12.74%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-6.38%

EPS CAGR

10Y-

5Y-

3Y-

TTM-5.85%

ROCE

10Y Avg2.69%

5Y Avg4.64%

3Y Avg-2.97%

Latest-5.71%

Peer Comparison

Semiconductor Test, Metrology and Inspection Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FORMFormFactor, Inc.	7.63B	98.88	111.10	15.16%	6.78%	5.14%	1.04%	0.04
TERTeradyne, Inc.	50.12B	320.03	91.96	13.13%	17.37%	19.82%	0.9%	0.12
NVMINova Ltd.	12.85B	438.86	76.32	29.83%	29.44%	19.66%	1.7%	0.25
CAMTCamtek Ltd.	7.18B	167.39	69.17	36.1%	28.36%	21.35%		0.38
ONTOOnto Innovation Inc.	10.63B	215.89	53.17	21.01%	17.46%	8.74%	2.01%	0.01
KLACKLA Corporation	201.28B	1524.55	50.20	23.89%	35.76%	83.39%	1.86%	1.30
INTTinTEST Corporation	144.21M	11.65	48.54	5.99%	-2.22%	-2.44%	1.73%	0.26
COHUCohu, Inc.	1.41B	30.20	-18.99	12.74%	-16.4%	-9.46%		0.46

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	282.08M	352.7M	451.77M	583.33M	636.01M	887.21M	812.77M	636.32M	401.78M	452.96M
Revenue Growth %	4.61%	25.04%	28.09%	29.12%	9.03%	39.5%	-8.39%	-21.71%	-36.86%	12.74%
Cost of Goods Sold+	182.09M	209.3M	273.41M	353.5M	360.49M	500.81M	429.9M	333.52M	221.95M	298.56M
COGS % of Revenue	64.55%	59.34%	60.52%	60.6%	56.68%	56.45%	52.89%	52.41%	55.24%	65.91%
Gross Profit+	100M	143.41M	178.36M	229.83M	275.51M	386.4M	382.87M	302.81M	179.83M	154.4M
Gross Margin %	35.45%	40.66%	39.48%	39.4%	43.32%	43.55%	47.11%	47.59%	44.76%	34.09%
Gross Profit Growth %	12.31%	43.41%	24.37%	28.86%	19.88%	40.25%	-0.91%	-20.91%	-40.61%	-14.14%
Operating Expenses+	96.95M	105.68M	208.14M	282.16M	272.25M	184.88M	257.31M	259.53M	251.5M	212.87M
OpEx % of Revenue	34.37%	29.96%	46.07%	48.37%	42.81%	20.84%	31.66%	40.79%	62.6%	47%
Selling, General & Admin	52.81M	60.74M	96.75M	142.94M	129.25M	126.96M	131.39M	130.65M	127.84M	120.66M
SG&A % of Revenue	18.72%	17.22%	21.42%	24.5%	20.32%	14.31%	16.17%	20.53%	31.82%	26.64%
Research & Development	34.84M	40.74M	56.43M	86.15M	86.15M	91.96M	92.59M	88.57M	84.8M	92.21M
R&D % of Revenue	12.35%	11.55%	12.49%	14.77%	13.55%	10.37%	11.39%	13.92%	21.11%	20.36%
Other Operating Expenses	7.7M	4.21M	54.95M	53.07M	56.85M	-34.04M	33.34M	40.31M	38.86M	0
Operating Income+	3.04M	37.73M	-29.78M	-52.33M	3.26M	201.52M	125.56M	43.27M	-71.67M	-58.48M
Operating Margin %	1.08%	10.7%	-6.59%	-8.97%	0.51%	22.71%	15.45%	6.8%	-17.84%	-12.91%
Operating Income Growth %	-61.77%	1139.73%	-178.94%	-75.71%	106.23%	6081.53%	-37.69%	-65.54%	-265.62%	18.41%
EBITDA+	13.46M	46.92M	-3.73M	6.54M	56.01M	250.09M	171.57M	93.02M	-19.18M	-7.79M
EBITDA Margin %	4.77%	13.3%	-0.83%	1.12%	8.81%	28.19%	21.11%	14.62%	-4.77%	-1.72%
EBITDA Growth %	-30.04%	248.72%	-107.96%	275.23%	755.97%	346.53%	-31.39%	-45.79%	-120.62%	59.38%
D&A (Non-Cash Add-back)	10.41M	9.2M	26.05M	58.87M	52.75M	48.57M	46.02M	49.74M	52.49M	50.69M
EBIT	5.44M	37.73M	7.98M	-51.52M	21.37M	132.07M	125.71M	47.23M	-71.89M	-58.48M
Net Interest Income+	342K	617K	-3.79M	-19.79M	-13.54M	-6.17M	-165K	8.12M	9.36M	5.99M
Interest Income	342K	671K	1.19M	764K	224K	239K	4.01M	11.5M	9.98M	8.04M
Interest Expense	0	54K	4.98M	20.56M	13.76M	6.41M	4.18M	3.38M	618K	2.05M
Other Income/Expense	342K	617K	-2.13M	-19.75M	-16.44M	-9.17M	1.16M	2.54M	6.72M	-3.93M
Pretax Income+	6.01M	35.37M	-31.91M	-72.08M	-13.18M	192.34M	126.72M	45.82M	-64.95M	-62.41M
Pretax Margin %	2.13%	10.03%	-7.06%	-12.36%	-2.07%	21.68%	15.59%	7.2%	-16.16%	-13.78%
Income Tax+	2.75M	2.24M	631K	-3.08M	666K	25.02M	29.87M	17.66M	4.87M	11.87M
Effective Tax Rate %	50.59%	92.87%	100.84%	96.7%	105.05%	86.99%	76.43%	61.45%	107.5%	119.01%
Net Income+	3.04M	32.84M	-32.18M	-69.7M	-13.84M	167.32M	96.85M	28.16M	-69.82M	-74.27M
Net Margin %	1.08%	9.31%	-7.12%	-11.95%	-2.18%	18.86%	11.92%	4.42%	-17.38%	-16.4%
Net Income Growth %	1115.6%	980.72%	-197.98%	-116.59%	80.14%	1308.73%	-42.12%	-70.93%	-347.97%	-6.38%
Net Income (Continuing)	3.26M	33.12M	-32.54M	-69M	-13.84M	167.32M	96.85M	28.16M	-69.82M	-74.27M
Discontinued Operations	0	0	119K	-697K	42K	0	0	0	0	0
Minority Interest	0	0	-299K	0	0	0	0	0	0	0
EPS (Diluted)+	0.11	1.14	-1.01	-1.68	-0.33	3.45	1.98	0.59	-1.49	-1.59
EPS Growth %	1000%	936.36%	-188.6%	-66.34%	80.36%	1145.45%	-42.61%	-70.2%	-352.54%	-6.71%
EPS (Basic)	0.11	1.18	-1.02	-1.68	-0.33	3.53	2.01	0.59	-1.49	-1.59
Diluted Shares Outstanding	27.48M	28.92M	31.78M	41.16M	41.85M	48.46M	48.8M	48.02M	46.91M	46.72M
Basic Shares Outstanding	26.66M	27.84M	31.67M	41.16M	41.85M	47.41M	48.18M	47.49M	46.91M	46.72M
Dividend Payout Ratio	208.98%	20.03%	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	245.15M	297.44M	485.24M	439.7M	485.05M	750.79M	764.85M	638.82M	534.31M	749.99M
Cash & Short-Term Investments	128.03M	155.62M	165.02M	156.1M	170.03M	379.9M	385.58M	335.7M	262.09M	483.98M
Cash Only	96.05M	134.29M	164.46M	155.19M	149.36M	290.2M	242.34M	245.52M	206.41M	483.98M
Short-Term Investments	31.99M	21.33M	560K	904K	20.67M	89.7M	143.24M	90.17M	55.69M	0
Accounts Receivable	63.02M	71.13M	149.28M	127.92M	151.92M	192.87M	176.15M	124.62M	91.62M	108.75M
Days Sales Outstanding	81.54	73.6	120.61	80.04	87.19	79.35	79.1	71.49	83.23	87.64
Inventory	45.5M	62.09M	139.31M	130.71M	142.5M	161.05M	170.14M	155.79M	141.86M	129.01M
Days Inventory Outstanding	91.21	108.27	185.99	134.96	144.28	117.38	144.45	170.5	233.29	157.71
Other Current Assets	8.59M	275K	5.42M	7.49M	1.83M	768K	8.97M	5.01M	19.44M	28.25M
Total Non-Current Assets+	100.36M	123.02M	648.76M	637.98M	605.28M	508.25M	462.56M	511.53M	465.11M	492.99M
Property, Plant & Equipment	18.23M	34.17M	74.33M	104.18M	96.12M	89.02M	87.81M	85.86M	88.69M	106.26M
Fixed Asset Turnover	15.47x	10.32x	6.08x	5.60x	6.62x	9.97x	9.26x	7.41x	4.53x	4.26x
Goodwill	58.85M	65.61M	242.13M	238.67M	252.3M	219.79M	213.54M	241.66M	234.64M	283.03M
Intangible Assets	17.84M	16.75M	318.96M	274.99M	233.67M	177.32M	140.1M	151.77M	110.72M	79.27M
Long-Term Investments	-5.85M	1.06M	-38.94M	0	0	0	0	0	0	0
Other Non-Current Assets	5.45M	6.49M	13.34M	20.14M	23.19M	22.12M	21.11M	32.24M	31.06M	24.43M
Total Assets+	345.51M	420.46M	1.13B	1.08B	1.09B	1.26B	1.23B	1.15B	999.41M	1.24B
Asset Turnover	0.82x	0.84x	0.40x	0.54x	0.58x	0.70x	0.66x	0.55x	0.40x	0.36x
Asset Growth %	0.05%	21.69%	169.71%	-4.96%	1.17%	15.47%	-2.51%	-6.28%	-13.12%	24.37%
Total Current Liabilities+	68.69M	85.27M	160.59M	148.88M	174.45M	192.46M	160.87M	103.42M	85.18M	109.08M
Accounts Payable	31.44M	37.56M	48.12M	48.7M	67.92M	85.23M	51.76M	33.6M	30.55M	0
Days Payables Outstanding	63.03	65.5	64.24	50.28	68.77	62.12	43.95	36.77	50.25	-
Short-Term Debt	0	4.39M	6.79M	6.52M	8.39M	19.45M	11.29M	6.32M	1.75M	11.05M
Deferred Revenue (Current)	6.89M	6.61M	6.9M	19.8M	23.08M	20.51M	14.91M	8.33M	6.35M	8.63M
Other Current Liabilities	13.67M	14.38M	58.33M	24.34M	34.86M	20.56M	17.92M	14.11M	44.13M	89.4M
Current Ratio	3.57x	3.49x	3.02x	2.95x	2.78x	3.90x	4.75x	6.18x	6.27x	6.88x
Quick Ratio	2.91x	2.76x	2.15x	2.08x	1.96x	3.06x	3.70x	4.67x	4.61x	5.69x
Cash Conversion Cycle	109.72	116.38	242.35	164.72	162.69	134.61	179.61	205.21	266.28	-
Total Non-Current Liabilities+	41.35M	46.1M	427.47M	445.75M	403.61M	184.08M	137.7M	96.76M	57.34M	348.37M
Long-Term Debt	0	4.58M	346.04M	346.52M	311.55M	103.39M	72.66M	34.3M	7.05M	316.72M
Capital Lease Obligations	0	0	2.61M	28.88M	25.79M	22.04M	19.21M	13.18M	9.89M	31.69M
Deferred Tax Liabilities	5.85M	2.92M	38.94M	31.31M	28.82M	25.89M	21.36M	23.15M	19.4M	0
Other Non-Current Liabilities	35.5M	37.8M	37.87M	39.05M	37.45M	26.66M	18.97M	26.13M	20.99M	-47K
Total Liabilities	110.04M	131.37M	588.06M	594.64M	578.06M	376.54M	298.57M	200.18M	142.52M	457.44M
Total Debt+	0	8.96M	352.83M	381.91M	345.73M	144.88M	103.16M	58.94M	18.69M	359.46M
Net Debt	-96.05M	-125.32M	188.37M	226.72M	196.37M	-145.32M	-139.18M	-186.59M	-187.71M	-156.21M
Debt / Equity	-	0.03x	0.65x	0.79x	0.67x	0.16x	0.11x	0.06x	0.02x	0.46x
Debt / EBITDA	-	0.19x	-	58.37x	6.17x	0.58x	0.60x	0.63x	-	-
Net Debt / EBITDA	-7.14x	-2.67x	-	34.65x	3.51x	-0.58x	-0.81x	-2.01x	-	-
Interest Coverage	-	698.61x	-5.98x	-2.55x	0.24x	31.42x	30.06x	12.79x	-115.97x	-28.47x
Total Equity+	235.47M	289.09M	545.94M	483.07M	512.29M	882.5M	928.84M	950.17M	856.89M	785.54M
Equity Growth %	-1.12%	22.77%	88.85%	-11.52%	6.05%	72.27%	5.25%	2.3%	-9.82%	-8.33%
Book Value per Share	8.57	10.00	17.18	11.74	12.24	18.21	19.03	19.78	18.27	16.81
Total Shareholders' Equity	235.47M	289.09M	546.24M	483.07M	512.29M	882.5M	928.84M	950.17M	856.89M	785.54M
Common Stock	26.84M	28.49M	40.76M	41.4M	42.19M	48.76M	49.28M	49.43M	49.6M	0
Retained Earnings	124.56M	150.73M	111.67M	42.52M	26.23M	193.56M	290.4M	318.56M	248.74M	0
Treasury Stock	0	0	0	0	0	-7.32M	-58.04M	-69.18M	-87.78M	0
Accumulated OCI	-27.88M	-17.79M	-25.88M	-34.03M	-4.33M	-27.26M	-40.01M	-34.78M	-51.16M	0
Minority Interest	0	0	-299K	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	24.55M	39.75M	34.44M	17.27M	49.73M	97.73M	112.86M	101.47M	2.78M	0
Operating CF Margin %	8.7%	11.27%	7.62%	2.96%	7.82%	11.02%	13.89%	15.95%	0.69%	-
Operating CF Growth %	14.28%	61.93%	-13.37%	-49.85%	188%	96.5%	15.48%	-10.09%	-97.26%	-100%
Net Income	3.04M	32.84M	-32.42M	-69.69M	-13.8M	167.32M	96.85M	28.16M	-69.82M	-74.27M
Depreciation & Amortization	10.41M	9.2M	26.05M	58.87M	52.75M	48.57M	46.02M	49.74M	52.49M	37.47M
Stock-Based Compensation	7.14M	7.01M	18.28M	14.15M	14.23M	13.79M	14.92M	17.24M	20.74M	0
Deferred Taxes	-1.06M	-3.79M	-8.21M	-5.38M	-5.3M	953K	-3.5M	-4.77M	-3.72M	0
Other Non-Cash Items	1.34M	5.87M	21.81M	13.77M	14.8M	-61.15M	7.53M	694K	6.97M	36.81M
Working Capital Changes	3.68M	-11.37M	8.94M	5.55M	-12.94M	-71.76M	-48.94M	10.41M	-3.88M	0
Change in Receivables	-4.62M	-3.26M	5.79M	21.15M	-20.21M	-59.12M	12.45M	61.9M	34.85M	0
Change in Inventory	4.61M	-12.2M	2.04M	26K	-14.98M	-35.86M	-18.51M	12.84M	4.98M	745K
Change in Payables	5.68M	4.16M	-7.1M	-3.12M	15.06M	17.32M	-33.13M	-21.36M	-3.56M	0
Cash from Investing+	-32.92M	-7.04M	-322.31M	-16.55M	-18.36M	39.89M	-67.87M	-30.21M	21.92M	0
Capital Expenditures	-3.45M	-6.09M	-4.97M	-18M	-18.66M	-12M	-14.77M	-16.05M	-10.63M	0
CapEx % of Revenue	1.22%	1.73%	1.1%	3.09%	2.93%	1.35%	1.82%	2.52%	2.65%	-
Acquisitions	874K	-11.72M	-339.12M	0	2.98M	120.89M	0	-69.73M	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	874K	104K	1M	1.77M	17.02M	157K	349K	216K	-3.1M	0
Cash from Financing+	-6.71M	2.15M	322.11M	-8.18M	-38.07M	6.53M	-91.07M	-68.14M	-59.03M	0
Debt Issued (Net)	0	-1.63M	345.93M	1.66M	-35.18M	-204.88M	-38.39M	-38.84M	-31.35M	0
Equity Issued (Net)	-356K	1000K	-1000K	0	0	1000K	-1000K	-1000K	-1000K	0
Dividends Paid	-6.35M	-6.58M	-6.95M	-9.83M	-4.97M	0	0	0	0	0
Share Repurchases	-356K	0	-8.98M	0	0	-7.32M	-50.72M	-23.64M	-26.99M	0
Other Financing	0	0	-7.89M	-16K	2.08M	-4.39M	-1.96M	-5.66M	-701K	0
Net Change in Cash	-19.32M	38.24M	30.64M	-8.99M	-6.57M	140.84M	-47.86M	3.18M	-39.12M	0
Free Cash Flow+	21.1M	33.66M	29.47M	-731K	31.07M	85.73M	98.09M	85.42M	-7.86M	0
FCF Margin %	7.48%	9.54%	6.52%	-0.13%	4.89%	9.66%	12.07%	13.42%	-1.96%	-
FCF Growth %	41.64%	59.54%	-12.44%	-102.48%	4350.89%	175.89%	14.42%	-12.92%	-109.2%	100%
FCF per Share	0.77	1.16	0.93	-0.02	0.74	1.77	2.01	1.78	-0.17	-
FCF Conversion (FCF/Net Income)	8.08x	1.21x	-1.07x	-0.25x	-3.59x	0.58x	1.17x	3.60x	-0.04x	-
Interest Paid	0	0	4.98M	14.85M	16.32M	6.25M	3.44M	3.42M	803K	0
Taxes Paid	6.81M	7.09M	6.24M	14.94M	5.77M	22.72M	23.12M	44.28M	24.93M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	1.28%	12.52%	-7.71%	-13.55%	-2.78%	23.99%	10.69%	3%	-7.73%	-9.04%
Return on Invested Capital (ROIC)	1.74%	18.66%	-4.97%	-5.44%	0.34%	20.91%	12.34%	4.18%	-7.5%	-6.59%
Gross Margin	35.45%	40.66%	39.48%	39.4%	43.32%	43.55%	47.11%	47.59%	44.76%	34.09%
Net Margin	1.08%	9.31%	-7.12%	-11.95%	-2.18%	18.86%	11.92%	4.42%	-17.38%	-16.4%
Debt / Equity	-	0.03x	0.65x	0.79x	0.67x	0.16x	0.11x	0.06x	0.02x	0.46x
Interest Coverage	-	698.61x	-5.98x	-2.55x	0.24x	31.42x	30.06x	12.79x	-115.97x	-28.47x
FCF Conversion	8.08x	1.21x	-1.07x	-0.25x	-3.59x	0.58x	1.17x	3.60x	-0.04x	-
Revenue Growth	4.61%	25.04%	28.09%	29.12%	9.03%	39.5%	-8.39%	-21.71%	-36.86%	12.74%

Cohu, Inc. (COHU) 10-Year Financial Performance & Capital Metrics

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Growth Metrics

Revenue CAGR

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Revenue History

Financial Ratios

Cohu, Inc. (COHU) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare COHU vs Peers

vs KLAC

vs TER

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios