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Cohu Inc Financials

COHU
Source SEC Filings (10-K/10-Q) Updated Dec 27, 2025 Currency USD FYE December

This page shows Cohu Inc (COHU) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 47 / 100
Financial Profile 47/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
0

Cohu Inc has an operating margin of -15.4%, meaning the company retains $-15 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -17.8% the prior year.

Growth
55

Cohu Inc's revenue grew 12.7% year-over-year to $453.0M, a solid pace of expansion. This earns a growth score of 55/100.

Leverage
95

Cohu Inc carries a low D/E ratio of 0.36, meaning only $0.36 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
100

With a current ratio of 6.88, Cohu Inc holds $6.88 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow
31

Cohu Inc has a free cash flow margin of 2.4%, earning a moderate score of 31/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
0

Cohu Inc generates a -9.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -8.2% the prior year.

Piotroski F-Score Neutral
4/9

Cohu Inc passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed
-0.43x

For every $1 of reported earnings, Cohu Inc generates $-0.43 in operating cash flow ($31.7M OCF vs -$74.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
-34.0x

Cohu Inc earns $-34.0 in operating income for every $1 of interest expense (-$69.8M vs $2.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$453.0M
YoY+12.7%
5Y CAGR-6.6%
10Y CAGR+5.3%

Cohu Inc generated $453.0M in revenue in fiscal year 2025. This represents an increase of 12.7% from the prior year.

EBITDA
-$19.1M
YoY+0.5%

Cohu Inc's EBITDA was -$19.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 0.5% from the prior year.

Net Income
-$74.3M
YoY-6.4%

Cohu Inc reported -$74.3M in net income in fiscal year 2025. This represents a decrease of 6.4% from the prior year.

EPS (Diluted)
$-1.59
YoY-6.7%

Cohu Inc earned $-1.59 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 6.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$10.7M
YoY+236.6%
5Y CAGR-19.2%
10Y CAGR-3.2%

Cohu Inc generated $10.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 236.6% from the prior year.

Cash & Debt
$227.1M
YoY+10.0%
5Y CAGR+8.7%
10Y CAGR+7.0%

Cohu Inc held $227.1M in cash against $285.0M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
47M
YoY+0.4%
5Y CAGR+2.1%
10Y CAGR+6.0%

Cohu Inc had 47M shares outstanding in fiscal year 2025. This represents an increase of 0.4% from the prior year.

Margins & Returns

Gross Margin
42.8%
YoY-2.1pp
5Y CAGR+0.0pp
10Y CAGR+9.7pp

Cohu Inc's gross margin was 42.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.1 percentage points from the prior year.

Operating Margin
-15.4%
YoY+2.4pp
5Y CAGR-15.9pp
10Y CAGR-18.4pp

Cohu Inc's operating margin was -15.4% in fiscal year 2025, reflecting core business profitability. This is up 2.4 percentage points from the prior year.

Net Margin
-16.4%
YoY+1.0pp
5Y CAGR-14.2pp
10Y CAGR-16.5pp

Cohu Inc's net profit margin was -16.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.0 percentage points from the prior year.

Return on Equity
-9.5%
YoY-1.3pp
5Y CAGR-6.8pp
10Y CAGR-9.6pp

Cohu Inc's ROE was -9.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.3 percentage points from the prior year.

Capital Allocation

R&D Spending
$92.2M
YoY+8.7%
5Y CAGR+1.4%
10Y CAGR+10.8%

Cohu Inc invested $92.2M in research and development in fiscal year 2025. This represents an increase of 8.7% from the prior year.

Share Buybacks
$8.6M
YoY-68.2%

Cohu Inc spent $8.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 68.2% from the prior year.

Capital Expenditures
$21.0M
YoY+97.1%
5Y CAGR+2.3%
10Y CAGR+12.3%

Cohu Inc invested $21.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 97.1% from the prior year.

COHU Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $122.2M-3.2% $126.2M+17.2% $107.7M+11.2% $96.8M+2.8% $94.1M-1.3% $95.3M-8.9% $104.7M-2.7% $107.6M
Cost of Revenue $73.3M+3.3% $71.0M+17.2% $60.6M+11.2% $54.5M-0.3% $54.7M+7.8% $50.7M-12.3% $57.8M-1.0% $58.4M
Gross Profit $48.9M-11.5% $55.3M+17.3% $47.1M+11.3% $42.3M+7.2% $39.5M-11.6% $44.7M-4.8% $46.9M-4.7% $49.2M
R&D Expenses $23.4M+4.3% $22.5M-3.2% $23.2M+0.2% $23.2M+11.3% $20.8M+2.3% $20.3M-4.8% $21.3M-4.5% $22.3M
SG&A Expenses $31.9M+0.5% $31.8M+6.4% $29.9M-0.5% $30.0M-1.7% $30.5M+0.8% $30.3M-5.7% $32.1M-8.4% $35.1M
Operating Income -$15.5M-59.4% -$9.7M+43.6% -$17.2M+36.9% -$27.3M-26.4% -$21.6M-37.1% -$15.8M+3.3% -$16.3M+9.3% -$18.0M
Interest Expense $1.6M+1372.7% $110K-12.7% $126K-36.4% $198K+100.0% $99K+15.1% $86K-40.3% $144K-50.2% $289K
Income Tax $8.7M+334.1% -$3.7M-281.3% $2.0M-57.6% $4.8M+135.4% $2.1M-36.4% $3.2M+151.2% $1.3M+175.6% -$1.7M
Net Income -$22.5M-448.4% -$4.1M+75.7% -$16.9M+45.2% -$30.8M-44.2% -$21.4M-18.3% -$18.1M-14.5% -$15.8M-7.7% -$14.6M
EPS (Diluted) N/A $-0.09+75.0% $-0.36+45.5% $-0.66 N/A $-0.39-14.7% $-0.34-9.7% $-0.31

COHU Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $1.2B+21.7% $1.0B+1.1% $1.0B+3.6% $975.5M-2.4% $999.4M-3.2% $1.0B-0.6% $1.0B-3.3% $1.1B
Current Assets $750.0M+46.0% $513.5M+4.6% $491.0M+2.6% $478.8M-10.4% $534.3M-1.5% $542.5M-0.7% $546.1M-4.7% $572.9M
Cash & Equivalents $227.1M+51.4% $149.9M-8.8% $164.4M+8.3% $151.9M-26.4% $206.4M+9.1% $189.3M-6.8% $203.1M+6.3% $191.1M
Inventory $129.0M-3.9% $134.2M-2.6% $137.8M-1.1% $139.4M-1.8% $141.9M-1.6% $144.1M-1.3% $146.1M-3.6% $151.6M
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill $283.0M+0.3% $282.3M-0.1% $282.5M+3.6% $272.6M+16.2% $234.6M-3.4% $242.9M+2.3% $237.5M-0.4% $238.3M
Total Liabilities $457.4M+140.5% $190.2M+5.9% $179.7M+21.5% $147.8M+3.7% $142.5M-3.6% $147.8M+3.5% $142.8M-10.2% $159.1M
Current Liabilities $109.1M-6.7% $116.9M+16.3% $100.6M+9.3% $92.0M+8.0% $85.2M+0.2% $85.0M+8.2% $78.6M-13.8% $91.1M
Long-Term Debt $285.0M+4042.2% $6.9M-5.1% $7.3M+2.7% $7.1M+0.1% $7.1M-10.9% $7.9M+4.2% $7.6M-5.4% $8.0M
Total Equity $785.5M-5.5% $831.1M+0.1% $830.5M+0.3% $827.7M-3.4% $856.9M-3.1% $884.5M-1.3% $896.2M-2.1% $915.4M
Retained Earnings $174.5M-11.4% $197.0M-2.0% $201.1M-7.7% $217.9M-12.4% $248.7M-7.9% $270.1M-6.3% $288.2M-5.2% $303.9M

COHU Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $39.8M+384.4% -$14.0M-187.3% $16.0M+257.6% -$10.2M-493.0% -$1.7M-109.9% $17.4M+1484.2% $1.1M+107.8% -$14.0M
Capital Expenditures $3.4M-14.8% $4.0M+48.9% $2.7M-75.7% $11.0M+260.7% $3.0M+35.0% $2.3M+11.8% $2.0M-39.4% $3.3M
Free Cash Flow $36.5M+302.9% -$18.0M-234.2% $13.4M+163.3% -$21.1M-344.5% -$4.8M-131.5% $15.1M+1744.3% -$919K+94.7% -$17.3M
Investing Cash Flow -$209.6M-1551.0% -$12.7M-1608.5% -$743K+97.8% -$34.0M-286.4% $18.2M+181.6% -$22.3M-216.4% $19.2M+181.7% $6.8M
Financing Cash Flow $247.9M+51952.3% -$478K-143.4% $1.1M+151.2% -$2.2M-350.4% $859K+110.5% -$8.2M-13.0% -$7.3M+83.7% -$44.4M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $0+100.0% -$1K-100.7% $138K-98.4% $8.4M+26303.1% $32K-99.6% $8.1M-1.5% $8.2M-23.5% $10.7M

COHU Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 40.0%-3.7pp 43.8%+0.0pp 43.8%+0.0pp 43.7%+1.8pp 41.9%-4.9pp 46.8%+2.0pp 44.8%-0.9pp 45.8%
Operating Margin -12.7%-5.0pp -7.7%+8.3pp -16.0%+12.2pp -28.2%-5.2pp -23.0%-6.4pp -16.5%-1.0pp -15.6%+1.1pp -16.7%
Net Margin -18.4%-15.2pp -3.3%+12.4pp -15.7%+16.1pp -31.8%-9.1pp -22.7%-3.7pp -18.9%-3.9pp -15.1%-1.5pp -13.6%
Return on Equity -2.9%-2.4pp -0.5%+1.5pp -2.0%+1.7pp -3.7%-1.2pp -2.5%-0.4pp -2.0%-0.3pp -1.8%-0.2pp -1.6%
Return on Assets -1.8%-1.4pp -0.4%+1.3pp -1.7%+1.5pp -3.2%-1.0pp -2.1%-0.4pp -1.8%-0.2pp -1.5%-0.2pp -1.4%
Current Ratio 6.88+2.5 4.39-0.5 4.88-0.3 5.20-1.1 6.27-0.1 6.38-0.6 6.95+0.7 6.29
Debt-to-Equity 0.36+0.4 0.010.0 0.010.0 0.010.0 0.010.0 0.010.0 0.010.0 0.01
FCF Margin 29.8%+44.1pp -14.2%-26.7pp 12.4%+34.3pp -21.9%-16.8pp -5.1%-20.9pp 15.8%+16.7pp -0.9%+15.2pp -16.1%

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Frequently Asked Questions

Cohu Inc (COHU) reported $453.0M in total revenue for fiscal year 2025. This represents a 12.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Cohu Inc (COHU) revenue grew by 12.7% year-over-year, from $401.8M to $453.0M in fiscal year 2025.

No, Cohu Inc (COHU) reported a net income of -$74.3M in fiscal year 2025, with a net profit margin of -16.4%.

Cohu Inc (COHU) reported diluted earnings per share of $-1.59 for fiscal year 2025. This represents a -6.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Cohu Inc (COHU) had EBITDA of -$19.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Cohu Inc (COHU) had $227.1M in cash and equivalents against $285.0M in long-term debt.

Cohu Inc (COHU) had a gross margin of 42.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Cohu Inc (COHU) had an operating margin of -15.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Cohu Inc (COHU) had a net profit margin of -16.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Cohu Inc (COHU) has a return on equity of -9.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Cohu Inc (COHU) generated $10.7M in free cash flow during fiscal year 2025. This represents a 236.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Cohu Inc (COHU) generated $31.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Cohu Inc (COHU) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Cohu Inc (COHU) invested $21.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Cohu Inc (COHU) invested $92.2M in research and development during fiscal year 2025.

Yes, Cohu Inc (COHU) spent $8.6M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Cohu Inc (COHU) had 47M shares outstanding as of fiscal year 2025.

Cohu Inc (COHU) had a current ratio of 6.88 as of fiscal year 2025, which is generally considered healthy.

Cohu Inc (COHU) had a debt-to-equity ratio of 0.36 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Cohu Inc (COHU) had a return on assets of -6.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Cohu Inc (COHU) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Cohu Inc (COHU) has an earnings quality ratio of -0.43x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Cohu Inc (COHU) has an interest coverage ratio of -34.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Cohu Inc (COHU) scores 47 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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