Axcelis Technologies vs Cohu
Axcelis Technologies is the larger business, with $839m of revenue in fiscal 2025 against $453m for Cohu (1.9 times as much). Cohu grew faster (12.7% against -17.6%). Axcelis Technologies kept more of each dollar of sales as profit: a net margin of 14.3% against -16.4%. Axcelis Technologies carries less debt relative to equity (0.0% against 40.0%).
| Latest fiscal year | Axcelis TechnologiesACLS, 2025 | CohuCOHU, 2025 |
|---|---|---|
| Revenue | $839m | $453m |
| Revenue growth | -17.6% | 12.7% |
| Net income | $120m | −$74.3m |
| Operating margin | 14.2% | -15.4% |
| Net margin | 14.3% | -16.4% |
| Return on equity | 11.7% | -9.0% |
| Free cash flow | $107m | $10.7m |
| Cash | $145m | $227m |
| Total debt | $0 | $314m |
| Debt to equity | 0.0% | 40.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $121m | $8.6m |
| Employees | 1,465 | 2,857 |
| Market value | $3.01bn | $2.50bn |
| Price vs our value range | Above our value range | — |
| Moat score | 82 (Strong) | 53 (Moderate) |
| Insider trades, 12 months | 0 buys, 23 sales | 0 buys, 22 sales |