NASDAQ : COHU
Cohu, Inc. — Financial statements
Technology · Semiconductor Equipment & Materials · United States
Last price 53.4 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.53B
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Financial statements
Cohu, Inc. (COHU) reported revenue of 569.31M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 569.31M | 452.96M | 401.78M | 636.32M | 812.77M | 887.21M |
| Cost of Revenue | 316.16M | 259.34M | 221.95M | 333.52M | 429.90M | 500.81M |
| Gross Profit | 253.14M | 193.62M | 179.83M | 302.81M | 382.87M | 386.40M |
| Selling, General & Admin | 133.72M | 124.87M | 123.84M | 130.65M | 131.39M | 126.96M |
| Research & Development | 100.31M | 92.21M | 84.80M | 88.57M | 92.59M | 91.96M |
| Amortization of Goodwill & Intangibles | 29.04M | 37.47M | 39.09M | 36.35M | 33.19M | 35.41M |
| Operating Expenses | 263.06M | 254.54M | 247.72M | 255.57M | 257.16M | 254.34M |
| Operating Income | -9.92M | -60.93M | -67.89M | 47.23M | 125.71M | 132.07M |
| Interest Expense | -6.67M | -2.05M | -618.00K | -3.38M | -4.18M | -6.41M |
| Interest & Investment Income | 15.27M | 8.04M | 9.98M | 11.50M | 4.01M | 239.00K |
| Currency Exchange Gain (Loss) | -1.38M | -783.00K | -2.40M | -5.21M | 1.64M | 411.00K |
| EBT Excluding Unusual Items | -2.70M | -55.72M | -60.93M | 50.14M | 127.18M | 126.31M |
| Merger & Restructuring Charges | -3.63M | -10.54M | -3.78M | -3.96M | -151.00K | -1.26M |
| Gain (Loss) on Sale of Assets | 70.81M | |||||
| Asset Writedown | -100.00K | |||||
| Other Unusual Items | -158.00K | 3.86M | -241.00K | -369.00K | -312.00K | -3.41M |
| Pretax Income | -6.50M | -62.41M | -64.95M | 45.82M | 126.72M | 192.34M |
| Income Tax Expense | 16.09M | 11.87M | 4.87M | 17.66M | 29.87M | 25.02M |
| Earnings From Continuing Operations | -22.59M | -74.27M | -69.82M | 28.16M | 96.85M | 167.32M |
| Net Income to Company | -22.59M | -74.27M | -69.82M | 28.16M | 96.85M | 167.32M |
| Net Income | -22.59M | -74.27M | -69.82M | 28.16M | 96.85M | 167.32M |
| Net Income to Common | -22.59M | -74.27M | -69.82M | 28.16M | 96.85M | 167.32M |
| Shares Outstanding (Basic) | 47.14M | 46.72M | 46.91M | 47.49M | 48.18M | 47.41M |
| Shares Outstanding (Diluted) | 47.14M | 46.72M | 46.91M | 48.02M | 48.80M | 48.46M |
| EPS (Basic) | -0.48 | -1.59 | -1.49 | 0.59 | 2.01 | 3.53 |
| EPS (Diluted) | -0.48 | -1.59 | -1.49 | 0.59 | 1.98 | 3.45 |
| Free Cash Flow | 55.85M | 10.73M | -7.86M | 85.42M | 98.09M | 85.92M |
| Free Cash Flow Per Share | 1.19 | 0.23 | -0.17 | 1.78 | 2.01 | 1.77 |
| Gross Margin | 44.46% | 42.75% | 44.76% | 47.59% | 47.11% | 43.55% |
| Operating Margin | -1.74% | -13.45% | -16.90% | 7.42% | 15.47% | 14.89% |
| Profit Margin | -3.97% | -16.40% | -17.38% | 4.42% | 11.92% | 18.86% |
| Free Cash Flow Margin | 9.81% | 2.37% | -1.96% | 13.42% | 12.07% | 9.68% |
| EBITDA | 31.75M | -10.24M | -15.40M | 96.97M | 171.72M | 180.64M |
| EBITDA Margin | 5.58% | -2.26% | -3.83% | 15.24% | 21.13% | 20.36% |
| D&A For EBITDA | 41.67M | 50.69M | 52.49M | 49.74M | 46.02M | 48.57M |
| EBIT | -9.92M | -60.93M | -67.89M | 47.23M | 125.71M | 132.07M |
| EBIT Margin | -1.74% | -13.45% | -16.90% | 7.42% | 15.47% | 14.89% |
| Effective Tax Rate | 38.55% | 23.57% | 13.01% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 272.30M | 227.05M | 206.41M | 245.52M | 242.34M | 290.20M |
| Short-Term Investments | 235.65M | 256.93M | 55.69M | 90.17M | 143.24M | 89.70M |
| Cash & Short-Term Investments | 507.95M | 483.98M | 262.09M | 335.70M | 385.58M | 379.90M |
| Accounts Receivable | 145.24M | 108.75M | 91.62M | 124.62M | 176.15M | 192.87M |
| Other Receivables | 6.42M | 3.89M | 19.44M | |||
| Receivables | 151.66M | 112.65M | 111.06M | 124.62M | 176.15M | 192.87M |
| Inventory | 149.05M | 129.01M | 141.86M | 155.79M | 170.14M | 161.05M |
| Prepaid Expenses | 27.68M | 24.36M | 19.29M | 17.70M | 24.02M | 16.19M |
| Other Current Assets | 5.01M | 8.97M | 768.00K | |||
| Total Current Assets | 836.34M | 749.99M | 534.31M | 638.82M | 764.85M | 750.79M |
| Property, Plant & Equipment | 102.22M | 106.26M | 88.69M | 85.86M | 87.81M | 89.02M |
| Goodwill | 278.72M | 283.03M | 234.64M | 241.66M | 213.54M | 219.79M |
| Other Intangible Assets | 57.01M | 86.27M | 120.02M | 163.97M | 154.80M | 190.82M |
| Other Long-Term Assets | 23.43M | 17.43M | 21.76M | 20.04M | 6.41M | 8.62M |
| Total Assets | 1.30B | 1.24B | 999.41M | 1.15B | 1.23B | 1.26B |
| Accounts Payable | 76.60M | 40.71M | 30.55M | 33.60M | 51.76M | 85.23M |
| Accrued Expenses | 42.60M | 35.82M | 27.45M | 41.35M | 50.65M | 53.78M |
| Short-Term Debt | 15.64M | 9.81M | 633.00K | 1.77M | 1.91M | 3.06M |
| Current Portion of Long-Term Debt | 1.21M | 1.24M | 1.11M | 4.55M | 4.40M | 11.34M |
| Current Portion of Leases | 3.79M | 3.10M | 13.71M | 5.13M | 4.98M | 5.05M |
| Current Income Taxes Payable | 2.87M | 2.79M | 2.39M | 4.02M | 26.65M | 6.87M |
| Current Unearned Revenue | 13.36M | 11.43M | 6.35M | 8.33M | 14.91M | 20.51M |
| Other Current Liabilities | 6.16M | 4.18M | 2.97M | 4.65M | 5.61M | 6.61M |
| Total Current Liabilities | 162.23M | 109.08M | 85.18M | 103.42M | 160.87M | 192.46M |
| Long-Term Debt | 285.21M | 285.03M | 7.05M | 34.30M | 72.66M | 103.39M |
| Long-Term Leases | 30.03M | 31.69M | 9.89M | 13.18M | 19.21M | 22.04M |
| Long-Term Unearned Revenue | 3.30M | 3.70M | 4.30M | 4.90M | 5.50M | 6.10M |
| Pension & Post-Retirement Benefits | 5.21M | 5.47M | 8.48M | 10.80M | 10.36M | 18.04M |
| Long-Term Deferred Tax Liabilities | 14.64M | 15.47M | 19.40M | 23.15M | 21.36M | 25.89M |
| Other Long-Term Liabilities | 6.11M | 7.00M | 8.21M | 10.43M | 8.61M | 8.63M |
| Total Liabilities | 506.74M | 457.44M | 142.52M | 200.18M | 298.57M | 376.54M |
| Common Stock | 50.35M | 49.88M | 49.60M | 49.43M | 49.28M | 48.76M |
| Additional Paid-In Capital | 693.82M | 681.51M | 697.49M | 686.15M | 687.22M | 674.78M |
| Retained Earnings | 174.37M | 174.47M | 248.74M | 318.56M | 290.40M | 193.56M |
| Treasury Stock | -86.86M | -87.84M | -87.78M | -69.18M | -58.04M | -7.32M |
| Comprehensive Income & Other | -40.69M | -32.47M | -51.16M | -34.78M | -40.01M | -27.26M |
| Total Common Equity | 790.98M | 785.54M | 856.89M | 950.17M | 928.84M | 882.50M |
| Shareholders' Equity | 790.98M | 785.54M | 856.89M | 950.17M | 928.84M | 882.50M |
| Total Liabilities & Equity | 1.30B | 1.24B | 999.41M | 1.15B | 1.23B | 1.26B |
| Total Debt | 335.89M | 330.87M | 32.41M | 58.94M | 103.16M | 144.88M |
| Net Cash (Debt) | 172.06M | 153.11M | 229.69M | 276.76M | 282.42M | 235.02M |
| Net Cash Per Share | 3.65 | 3.28 | 4.90 | 5.76 | 5.79 | 4.85 |
| Filing Date Shares Outstanding | 47.35M | 46.89M | 46.71M | 47.08M | 47.28M | 48.56M |
| Total Common Shares Outstanding | 47.35M | 46.84M | 46.71M | 47.18M | 47.51M | 48.55M |
| Working Capital | 674.10M | 640.91M | 449.12M | 535.40M | 603.98M | 558.33M |
| Book Value Per Share | 16.70 | 16.77 | 18.34 | 20.14 | 19.55 | 18.18 |
| Tangible Book Value | 455.25M | 416.24M | 502.24M | 544.54M | 560.50M | 471.89M |
| Tangible Book Value Per Share | 9.61 | 8.89 | 10.75 | 11.54 | 11.80 | 9.72 |
| Land | 11.95M | 12.36M | 6.94M | 7.30M | 7.07M | 7.70M |
| Buildings | 48.71M | 49.47M | 47.73M | 39.68M | 31.16M | 31.71M |
| Machinery | 107.59M | 103.27M | 104.77M | 108.83M | 105.11M | 95.54M |
| Order Backlog | 165.10M | 138.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -22.59M | -74.27M | -69.82M | 28.16M | 96.85M | 167.32M |
| Depreciation & Amortization | 41.67M | 50.69M | 52.49M | 49.74M | 46.02M | 48.57M |
| Other Amortization | 4.58M | 3.26M | 2.84M | 2.95M | 2.38M | 2.29M |
| Loss (Gain) From Sale of Assets | 250.00K | 141.00K | 176.00K | -4.00K | -203.00K | -70.81M |
| Asset Writedown & Restructuring Costs | 100.00K | |||||
| Loss (Gain) From Sale of Investments | -3.49M | -1.46M | -351.00K | -1.36M | -859.00K | |
| Stock-Based Compensation | 22.97M | 23.04M | 20.74M | 17.24M | 14.92M | 13.79M |
| Other Operating Activities | 17.31M | 8.13M | 579.00K | -5.66M | 2.71M | 8.23M |
| Change in Accounts Receivable | -26.18M | -14.47M | 34.85M | 61.90M | 12.45M | -59.12M |
| Change in Inventory | -28.50M | 4.28M | 6.37M | 12.84M | -18.51M | -35.86M |
| Change in Accounts Payable | 27.97M | 10.30M | -3.56M | -21.36M | -33.13M | 17.32M |
| Change in Unearned Revenue | 3.44M | 3.50M | -1.81M | -6.76M | -5.20M | 642.00K |
| Change in Income Taxes | 1.34M | 1.45M | -2.23M | -24.78M | 20.91M | 3.44M |
| Change in Other Net Operating Assets | 27.41M | 17.11M | -37.50M | -11.43M | -25.47M | 2.01M |
| Operating Cash Flow | 66.19M | 31.69M | 2.78M | 101.47M | 112.86M | 97.92M |
| Capital Expenditures | -10.34M | -20.96M | -10.63M | -16.05M | -14.77M | -12.00M |
| Sale of Property, Plant & Equipment | 437.00K | 504.00K | 107.00K | 216.00K | ||
| Cash Acquisitions | 172.00K | -34.76M | -69.73M | |||
| Divestitures | 120.89M | |||||
| Sale (Purchase) of Real Estate | 349.00K | 157.00K | ||||
| Investment in Securities | -185.00M | -199.66M | 35.66M | 55.36M | -53.45M | -69.15M |
| Other Investing Activities | 3.25M | -2.15M | -3.21M | |||
| Investing Cash Flow | -191.47M | -257.02M | 21.92M | -30.21M | -67.87M | 39.89M |
| Short-Term Debt Issued | 296.30M | |||||
| Long-Term Debt Issued | 1.38M | |||||
| Total Debt Issued | 293.59M | 296.30M | 1.38M | |||
| Long-Term Debt Repaid | -1.74M | -31.35M | -38.84M | -38.39M | -206.25M | |
| Net Debt Issued (Repaid) | 291.90M | 294.56M | -31.35M | -38.84M | -38.39M | -204.88M |
| Issuance of Common Stock | 1.19M | 1.19M | 223.12M | |||
| Repurchase of Common Stock | -3.16M | -8.59M | -27.69M | -29.30M | -52.68M | -11.71M |
| Other Financing Activities | -40.83M | -40.83M | ||||
| Financing Cash Flow | 249.10M | 246.33M | -59.03M | -68.14M | -91.07M | 6.53M |
| Foreign Exchange Rate Adjustments | -1.46M | -355.00K | -4.78M | 60.00K | -1.78M | -3.49M |
| Net Cash Flow | 122.36M | 20.65M | -39.12M | 3.18M | -47.86M | 140.84M |
| Free Cash Flow | 55.85M | 10.73M | -7.86M | 85.42M | 98.09M | 85.92M |
| Free Cash Flow Margin | 9.81% | 2.37% | -1.96% | 13.42% | 12.07% | 9.68% |
| Free Cash Flow Per Share | 1.19 | 0.23 | -0.17 | 1.78 | 2.01 | 1.77 |
| Levered Free Cash Flow | 74.96M | 48.08M | 31.28M | 99.81M | 92.68M | 87.72M |
| Unlevered Free Cash Flow | 77.43M | 48.94M | 31.66M | 101.78M | 94.98M | 91.09M |
| Cash Interest Paid | 4.08M | 536.00K | 803.00K | 3.42M | 3.44M | 6.25M |
| Cash Income Tax Paid | -2.83M | 24.93M | 44.28M | 23.12M | 22.72M | |
| Change in Working Capital | 5.49M | 22.16M | -3.88M | 10.41M | -48.94M | -71.57M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.39B | 1.10B | 1.25B | 1.68B | 1.53B | 1.85B |
| Enterprise Value | 2.22B | 952.39M | 1.02B | 1.35B | 1.26B | 1.63B |
| Last Close Price | 50.79 | 23.49 | 26.83 | 35.39 | 32.05 | 38.01 |
| PE Ratio | 59.71 | 15.76 | 11.06 | |||
| Forward PE | 25.28 | 42.71 | 86.55 | 27.22 | 14.14 | 13.62 |
| PS Ratio | 4.22 | 2.42 | 3.11 | 2.64 | 1.88 | 2.09 |
| PB Ratio | 3.04 | 1.40 | 1.46 | 1.77 | 1.64 | 2.10 |
| P/TBV Ratio | 5.28 | 2.63 | 2.49 | 3.09 | 2.72 | 3.92 |
| P/FCF Ratio | 43.05 | 102.18 | 19.68 | 15.56 | 21.54 | |
| P/OCF Ratio | 36.33 | 34.61 | 450.20 | 16.57 | 13.53 | 18.90 |
| PEG Ratio | 1.42 | 4.33 | 1.36 | 0.71 | 0.68 | |
| EV/Sales Ratio | 3.92 | 2.10 | 2.53 | 2.13 | 1.55 | 1.84 |
| EV/EBITDA Ratio | 70.32 | 13.96 | 7.34 | 9.04 | ||
| EV/EBIT Ratio | 28.66 | 10.02 | 12.36 | |||
| EV/FCF Ratio | 39.97 | 88.73 | 15.85 | 12.85 | 19.00 | |
| Debt / Equity Ratio | 0.42 | 0.42 | 0.04 | 0.06 | 0.11 | 0.16 |
| Debt / EBITDA Ratio | 8.07 | 1,858.82 | 0.56 | 0.57 | 0.76 | |
| Debt / FCF Ratio | 6.01 | 30.82 | 0.69 | 1.05 | 1.69 | |
| Net Debt / Equity Ratio | -0.22 | -0.20 | -0.27 | -0.29 | -0.30 | -0.27 |
| Net Debt / EBITDA Ratio | -5.42 | 14.95 | 14.91 | -2.85 | -1.65 | -1.30 |
| Net Debt / FCF Ratio | -3.08 | -14.26 | 29.24 | -3.24 | -2.88 | -2.74 |
| Asset Turnover | 0.49 | 0.40 | 0.37 | 0.54 | 0.65 | 0.76 |
| Inventory Turnover | 2.23 | 1.92 | 1.49 | 2.05 | 2.60 | 3.30 |
| Quick Ratio | 4.07 | 5.47 | 4.38 | 4.45 | 3.49 | 2.98 |
| Current Ratio | 5.16 | 6.88 | 6.27 | 6.18 | 4.75 | 3.90 |
| Return on Equity (ROE) | -2.79% | -9.04% | -7.73% | 3.00% | 10.69% | 23.99% |
| Return on Assets (ROA) | -0.53% | -3.40% | -3.95% | 2.48% | 6.32% | 7.03% |
| Return on Invested Capital (ROIC) | -1.62% | -9.67% | -10.44% | 4.40% | 14.85% | 17.14% |
| Return on Capital Employed (ROCE) | -0.90% | -5.40% | -7.40% | 4.50% | 11.80% | 12.40% |
| Earnings Yield | -0.95% | -6.77% | -5.58% | 1.68% | 6.34% | 9.04% |
| FCF Yield | 2.32% | 0.98% | -0.63% | 5.08% | 6.43% | 4.64% |
| Buyback Yield / Dilution | -0.96% | 0.39% | 2.33% | 1.59% | -0.70% | -15.78% |
| Total Shareholder Return | -0.96% | 0.39% | 2.33% | 1.59% | -0.70% | -15.78% |