Cohu, Inc. (COHU) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 26	$0.03	$0.01	-66.7%	—	$125.1M	—
Q4 25	$0.06	-$0.15	-350.0%	—	$122.2M	—
Q3 25	-$0.2	-$0.06	+70.0%	—	$126.2M	—
Q2 25	-$0.02	$0.02	+200.0%	—	$107.7M	—
Q1 25	-$0.17	-$0.02	+88.2%	—	$96.8M	—
Q4 24	-$0.09	-$0.15	-66.7%	—	$94.1M	—
Q3 24	-$0.07	-$0.08	-14.3%	—	$95.3M	—
Q2 24	-$0.02	-$0.01	+50.0%	—	$104.7M	—
Q1 24	-$0.01	$0.01	+200.0%	—	$107.6M	—
Q4 23	$0.23	$0.23	0.0%	—	$137.2M	—
Q3 23	$0.32	$0.35	+9.4%	—	$150.8M	—
Q2 23	$0.44	$0.48	+9.1%	—	$168.9M	—
Q1 23	$0.54	$0.56	+3.7%	—	$179.4M	—
Q4 22	$0.6	$0.7	+16.7%	—	$191.1M	—
Q3 22	$0.68	$0.74	+8.8%	—	$206.7M	—
Q2 22	$0.71	$0.81	+14.1%	—	$217.2M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$1.59	—	—	$453M	—
FY24	—	-$1.49	—	—	$401.8M	—
FY23	—	$0.59	—	—	$636.3M	—
FY22	—	$2.01	—	—	$812.8M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$282.1M	$352.7M	$451.8M	$583.3M	$636M	$887.2M	$812.8M	$636.3M	$401.8M	$453M
YoY change	+4.61%	+25%	+28.1%	+29.1%	+9.03%	+39.5%	-8.39%	-21.7%	-36.9%	+12.7%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	282.1M	352.7M	451.8M	583.3M	636M	887.2M	812.8M	636.3M	401.8M	453M
Cost of revenue	182.1M	209.3M	292.5M	353.5M	364.2M	500.3M	429.4M	333.5M	221.5M	259.3M
Gross profit	100M	143.4M	159.3M	229.8M	271.8M	387M	383.3M	302.9M	180.3M	193.6M
Gross margin	35.4%	40.7%	35.3%	39.4%	42.7%	43.6%	47.2%	47.6%	44.9%	42.7%
Research & development	34.8M	40.7M	56.4M	86.1M	86.2M	92M	92.6M	88.6M	84.8M	92.2M
Selling, general & administrative	55.2M	60.7M	96.8M	142.9M	129.2M	127M	131.4M	132.2M	128M	123.6M
Operating expenses	90.1M	101.5M	153.2M	229.1M	215.4M	218.9M	224M	220.8M	212.8M	215.8M
Operating income	3M	37.7M	-11.1M	-38.8M	17.6M	132.6M	126.2M	45.7M	-71.6M	-59.6M
Operating margin	1.08%	10.7%	-2.45%	-6.66%	2.77%	14.9%	15.5%	7.18%	-17.8%	-13.2%
Non-operating income, net	2.6M	-3M	-17M	-13.4M	-17.3M	65.9M	718K	-8M	-2.7M	-8.8M
Pretax income	6M	35.4M	-31.9M	-72.1M	-13.2M	192.3M	126.7M	45.8M	-64.9M	-62.4M
Income tax	2.7M	2.2M	631K	-3.1M	666K	25M	29.9M	17.7M	4.9M	11.9M
Net income	3M	32.8M	-32.4M	-69.7M	-13.8M	167.3M	96.8M	28.2M	-69.8M	-74.3M
Net margin	1.08%	9.31%	-7.18%	-11.9%	-2.17%	18.9%	11.9%	4.42%	-17.4%	-16.4%
EBITDA	13.8M	47.6M	16.2M	20.8M	70.6M	181.4M	176.2M	106.9M	-9.2M	-901K
EPS	0.11	1.18	-1.01	-1.69	-0.33	3.53	2.01	0.59	-1.49	-1.59
Diluted EPS	0.11	1.14	-1.01	-1.69	-0.33	3.45	1.98	0.59	-1.49	-1.59

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	150.8M	137.2M	107.6M	104.7M	95.3M	94.1M	96.8M	107.7M	126.2M	122.2M	125.1M	149M
Cost of revenue	79.9M	71.8M	58.4M	57.8M	50.7M	54.7M	54.5M	60.6M	71M	73.3M	67.2M	81.4M
Gross profit	70.9M	65.4M	49.2M	46.9M	44.7M	39.5M	42.3M	47.1M	55.3M	48.9M	57.9M	67.6M
Gross margin	47%	47.7%	45.8%	44.8%	46.8%	41.9%	43.7%	43.7%	43.8%	40%	46.3%	45.4%
Research & development	21.5M	22.1M	22.3M	21.3M	20.3M	20.8M	23.2M	23.2M	22.5M	23.4M	26.4M	24.9M
Selling, general & administrative	32.4M	32.8M	35.1M	32.1M	30.3M	30.5M	30M	29.9M	31.8M	31.9M	34.6M	34.4M
Operating expenses	53.9M	55M	57.4M	53.5M	50.6M	51.3M	53.2M	53.1M	54.2M	55.3M	61M	59.4M
Operating income	8.1M	709K	-18M	-16.3M	-15.8M	-21.6M	-20.7M	-16M	-9.2M	-13.7M	-10.4M	925K
Operating margin	5.4%	0.52%	-16.7%	-15.6%	-16.5%	-23%	-21.4%	-14.9%	-7.29%	-11.2%	-8.3%	0.62%
Non-operating income, net	-1.9M	-3.3M	-791K	-386K	-1.6M	93K	-6.7M	-65K	167K	-2.2M	-851K	-1.2M
Pretax income	8.6M	-497K	-16.3M	-14.5M	-14.8M	-19.3M	-26M	-14.8M	-7.8M	-13.8M	-9M	2M
Income tax	4.7M	1.5M	-1.7M	1.3M	3.2M	2.1M	4.8M	2M	-3.7M	8.7M	3.1M	2.1M
Net income	3.9M	-2M	-14.6M	-15.8M	-18.1M	-21.4M	-30.8M	-16.9M	-4.1M	-22.5M	-12.1M	-159K
Net margin	2.6%	-1.48%	-13.6%	-15.1%	-18.9%	-22.7%	-31.8%	-15.7%	-3.25%	-18.4%	-9.65%	-0.11%
EBITDA	23.5M	16.7M	-2M	-792K	7K	-6.3M	-6M	-1.2M	5.7M	561K	3.9M	15.2M
EPS	0.08	-0.04	-0.31	-0.34	-0.39	-0.46	-0.66	-0.36	-0.09	-0.48	-0.26	0
Diluted EPS	0.08	-0.04	-0.31	-0.34	-0.39	-0.46	-0.66	-0.36	-0.09	-0.48	-0.26	0

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	370.6M	611M	—	—	1.6B	—	1.5B	1.7B	1.3B	1.1B	3.1B
Enterprise value	242.5M	464.3M	—	—	1.8B	—	1.3B	1.4B	1B	931M	3B
Shares outstanding	26.7M	27.8M	31.8M	41.2M	41.9M	47.4M	48.2M	47.5M	46.9M	46.7M	46.7M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	121.9	18.6	—	—	—	—	15.9	59.7	—	—	52.7
P/S	1.31	1.73	—	—	2.51	—	1.9	2.64	3.12	2.4	5.97
P/B	1.57	2.11	—	—	3.12	—	1.66	1.77	1.46	1.38	4.03
EV/EBITDA	17.6	9.76	—	—	25.1	—	7.13	13.1	-110.1	-1K	238.1
EV/Sales	0.86	1.32	—	—	2.79	—	1.55	2.2	2.51	2.06	5.75
Earnings yield	0.82%	5.38%	—	—	—	—	6.27%	1.68%	—	—	1.9%
FCF yield	5.69%	5.51%	—	—	1.94%	—	6.35%	5.08%	-0.63%	0.99%	2.12%
PEG	—	—	—	—	—	—	—	—	—	—	-0.53

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	35.4%	40.7%	35.3%	39.4%	42.7%	43.6%	47.2%	47.6%	44.9%	42.7%	45.4%
Operating margin	1.08%	10.7%	-2.45%	-6.66%	2.77%	14.9%	15.5%	7.18%	-17.8%	-13.2%	0.62%
Net margin	1.08%	9.31%	-7.18%	-11.9%	-2.17%	18.9%	11.9%	4.42%	-17.4%	-16.4%	-7.43%
ROE	1.29%	11.4%	-5.94%	-14.4%	-2.69%	19%	10.4%	2.96%	-8.15%	-9.46%	-4.84%
ROA	0.88%	7.81%	-2.86%	-6.47%	-1.27%	13.3%	7.89%	2.45%	-6.99%	-5.98%	-1.78%
ROIC	1.54%	24.8%	-1.51%	-5.48%	2.56%	18%	15%	4.2%	-11.7%	-9.47%	-5.36%
Return on tangible assets	1.58%	12.8%	-274.2%	-138.4%	-11.7%	36%	18.6%	7.75%	-22.6%	-14.3%	-6.78%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.57	3.49	3.02	2.95	2.78	3.9	4.75	6.18	6.27	6.88	5.74
Quick ratio	2.91	2.76	2.15	2.08	1.96	3.06	3.7	4.67	4.61	5.69	4.72
Debt / equity	—	0.03	0.65	0.79	0.67	0.16	0.11	0.06	0.02	0.42	0.43
Debt / assets	—	0.02	0.31	0.35	0.32	0.11	0.08	0.05	0.02	0.26	0.26
Net debt / EBITDA	—	-3.08	11.6	10.9	2.49	-1.32	-1.63	-2.64	26.6	173.4	-6.75
Interest coverage	—	655.9	-5.41	-2.51	0.04	31	31.3	14.5	-104.1	-29.4	-4.76
Effective tax rate	45.7%	6.35%	0%	0%	0%	13%	23.6%	38.5%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	10.6	12.7	14.2	14.2	15.2	18.7	16.9	13.4	8.57	9.69	11.1
EPS (basic)	0.11	1.18	-1.01	-1.69	-0.33	3.53	2.01	0.59	-1.49	-1.59	-1.59
EPS (diluted)	0.11	1.14	-1.01	-1.69	-0.33	3.45	1.98	0.59	-1.49	-1.59	-0.83
Book value per share	8.83	10.4	17.2	11.7	12.2	18.6	19.3	20	18.3	16.8	16.4
FCF per share	0.79	1.21	0.93	-0.02	0.74	1.81	2.04	1.8	-0.17	0.23	0.74
Cash per share	4.8	5.59	5.19	3.79	4.06	8.01	8	7.07	5.59	10.4	10.5
Capex per share	0.1	0.22	0.12	0.39	0.04	0.25	0.3	0.33	0.22	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.91%	1.7%	0.88%	2.78%	0.26%	1.33%	1.77%	2.49%	2.62%	—	—
Capex / operating cash flow	10.1%	14.7%	12.9%	62.9%	3.77%	7.3%	15.3%	12.4%	161.1%	—	—
Payout ratio	209%	20%	-21.4%	-14.1%	-36%	0%	0%	—	—	—	0%
Dividend yield	1.71%	1.08%	—	—	0.31%	—	0%	—	—	—	0.36%

Yield

0.36%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.06

ex-dividend Feb 24, 2020

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Feb 24, 2020	$0.06
Nov 14, 2019	$0.06
Aug 22, 2019	$0.06

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$150.8M	$137.2M	$107.6M	$104.7M	$95.3M	$94.1M	$96.8M	$107.7M	$126.2M	$122.2M	$125.1M	$149M
YoY change	-27%	-28.2%	-40%	-38%	-36.8%	-31.4%	-10.1%	+2.85%	+32.4%	+29.9%	+29.3%	+38.4%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	128M	155.6M	165M	156.1M	170M	379.9M	385.6M	335.7M	262.1M	484M
Receivables	63M	71.1M	149.3M	127.9M	151.9M	192.9M	176.1M	124.6M	91.6M	108.8M
Inventory	45.5M	62.1M	139.3M	130.7M	142.5M	161.1M	170.1M	155.8M	141.9M	129M
Total current assets	245.1M	297.4M	485.2M	439.7M	485M	750.8M	764.9M	638.8M	534.3M	750M
Property, plant & equipment	10.3M	20.4M	37.1M	62.7M	61.7M	57.3M	56.7M	46.2M	41M	56.8M
Goodwill & intangibles	153.4M	164.7M	1.1B	1B	971.9M	794.2M	707.3M	786.9M	690.7M	724.6M
Total assets	345.5M	420.5M	1.1B	1.1B	1.1B	1.3B	1.2B	1.2B	999.4M	1.2B
Accounts payable	31.4M	37.6M	48.1M	48.7M	67.9M	85.2M	51.8M	33.6M	30.6M	40.7M
Short-term debt	—	4.4M	6.8M	6.5M	8.4M	14.4M	6.3M	6.3M	1.7M	11.1M
Total current liabilities	68.7M	85.3M	160.6M	148.9M	174.5M	192.5M	160.9M	103.4M	85.2M	109.1M
Long-term debt	—	4.6M	346M	375.4M	337.3M	125.4M	91.9M	47.5M	16.9M	316.7M
Total liabilities	110M	131.4M	588.1M	594.6M	578.1M	376.5M	298.6M	200.2M	142.5M	457.4M
Shareholders' equity	235.5M	289.1M	545.9M	483.1M	512.3M	882.5M	928.8M	950.2M	856.9M	785.5M
Total debt	—	9M	352.8M	381.9M	345.7M	139.8M	98.2M	53.8M	18.7M	327.8M
Net debt	—	-125.3M	188.4M	226.7M	196.4M	-150.4M	-144.2M	-191.7M	-187.7M	100.7M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	387.6M	335.7M	271.3M	262.4M	269.2M	262.1M	200.8M	209.4M	198.2M	484M	488.7M	498.2M
Receivables	130.4M	124.6M	116M	103M	91.9M	91.6M	93.6M	90.8M	123.9M	108.8M	101.5M	122.7M
Inventory	166.7M	155.8M	151.6M	146.1M	144.1M	141.9M	139.4M	137.8M	134.2M	129M	130.8M	140.3M
Total current assets	718.6M	638.8M	572.9M	546.1M	542.5M	534.3M	478.8M	491M	513.5M	750M	754.2M	788.6M
Property, plant & equipment	46.6M	46.2M	46.2M	43M	42.8M	41M	43.6M	61.8M	59M	56.8M	54.8M	55M
Goodwill & intangibles	691.4M	786.9M	758.5M	736.8M	731M	690.7M	754.7M	758.5M	737.5M	724.6M	703.7M	686.2M
Total assets	1.2B	1.2B	1.1B	1B	1B	999.4M	975.5M	1B	1B	1.2B	1.2B	1.3B
Accounts payable	36.9M	33.6M	30.1M	21.6M	23.4M	30.6M	30.6M	40.8M	51.3M	40.7M	48.7M	62.2M
Short-term debt	6.2M	6.3M	2.8M	2.4M	2.6M	1.7M	10.7M	11.1M	11M	11.1M	11M	11.2M
Total current liabilities	128.4M	103.4M	91.1M	78.6M	85M	85.2M	92M	100.6M	116.9M	109.1M	117.3M	137.4M
Long-term debt	49.1M	47.5M	20.5M	19M	18.3M	16.9M	16.2M	39.4M	38.9M	316.7M	316.1M	315.8M
Total liabilities	221.3M	200.2M	159.1M	142.8M	147.8M	142.5M	147.8M	179.7M	190.2M	457.4M	466M	483.8M
Shareholders' equity	946.2M	950.2M	915.4M	896.2M	884.5M	856.9M	827.7M	830.5M	831.1M	785.5M	769M	774.6M
Total debt	55.3M	53.8M	23.3M	21.4M	20.9M	18.7M	26.9M	50.4M	49.9M	327.8M	327.2M	326.9M
Net debt	-238.1M	-191.7M	-167.7M	-181.7M	-168.3M	-187.7M	-125M	-114M	-100M	100.7M	116.2M	107.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	3M	32.8M	-32.4M	-69.7M	-13.8M	167.3M	96.8M	28.2M	-69.8M	-74.3M
Depreciation & amortization	10.4M	9.2M	26M	58.9M	52.7M	48.6M	46M	49.7M	52.5M	50.7M
Stock-based compensation	7.1M	7M	18.3M	14.1M	14.2M	13.8M	14.9M	17.2M	20.7M	23M
Change in working capital	5.5M	-9.9M	4.9M	16.3M	-10.9M	-81.8M	-69.9M	35.2M	-1.6M	20.7M
Operating cash flow	25.6M	40.7M	30.7M	25.8M	43.4M	162.3M	94.3M	127.8M	6.5M	31.7M
Capital expenditure	-2.6M	-6M	-4M	-16.2M	-1.6M	-11.8M	-14.4M	-15.8M	-10.5M	—
Investing cash flow	-32.9M	-7M	-322.3M	-16.5M	-18.4M	39.9M	-67.9M	-30.2M	21.9M	-236.6M
Dividends paid	-6.4M	-6.6M	-6.9M	-9.8M	-5M	0	0	—	—	—
Share repurchases	-356K	—	-9M	0	0	-7.3M	-50.7M	-23.6M	-27M	-8.6M
Financing cash flow	-6.7M	2.1M	322.1M	-2.7M	-40.1M	10.9M	-89.1M	-62.5M	-58.3M	245.1M
Net change in cash	-14M	35.8M	30.5M	6.6M	-15.1M	213.1M	-62.7M	35.1M	-29.9M	40.3M
Free cash flow	21.1M	33.7M	29.5M	-731K	31.1M	85.9M	98.1M	85.4M	-7.9M	10.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	3.9M	-2M	-14.6M	-15.8M	-18.1M	-21.4M	-30.8M	-16.9M	-4.1M	-22.5M	-12.1M	-159K
Depreciation & amortization	12.2M	13.1M	13.2M	13.2M	13.2M	12.9M	13.1M	13.5M	13.6M	10.6M	10.4M	10.4M
Stock-based compensation	4.3M	4.6M	4.6M	5.6M	5.2M	5.3M	6.2M	5.7M	5.7M	5.5M	6.3M	6.6M
Change in working capital	-9.5M	22.1M	-19.8M	16.1M	16.1M	-1.1M	-193K	10.3M	-26M	36.6M	921K	-9.6M
Operating cash flow	16M	23.8M	-11.4M	13.8M	18.6M	-1.6M	-10.9M	16M	-14M	39.8M	10.3M	10.4M
Capital expenditure	-4M	-3.9M	-3.3M	-2M	-2.2M	-3M	-11M	—	—	—	—	—
Investing cash flow	-504K	-42.5M	6.8M	19.2M	-22.3M	18.2M	-34M	1.9M	-8.8M	-206.6M	-20.4M	1.4M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-5M	-5.1M	-14.8M	-6.7M	-8.1M	2.5M	-10.6M	1.5M	-62K	575K	-4.6M	1.2M
Financing cash flow	-6M	-6.5M	-44.4M	-7.3M	-8.2M	1.6M	-2.2M	1.1M	-478K	287.5M	-5M	1.3M
Net change in cash	9.5M	-25.2M	-49M	25.8M	-12M	18.2M	-47.1M	19M	-23.3M	120.7M	-15M	13.2M
Free cash flow	25.1M	-1.2M	-17.3M	-919K	15.1M	-4.8M	-21.1M	13.4M	-18M	36.5M	8.3M	8.1M

Date	Ratio
Sep 27, 1999	2:1
Jun 8, 1995	2:1
Jun 28, 1993	2:1

Cohu, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history