Cohu vs Veeco Instruments
Veeco Instruments is the larger business, with $664m of revenue in fiscal 2025 against $453m for Cohu (1.5 times as much). Cohu grew faster (12.7% against -7.4%). Veeco Instruments kept more of each dollar of sales as profit: a net margin of 5.3% against -16.4%.
| Latest fiscal year | CohuCOHU, 2025 | Veeco InstrumentsVECO, 2025 |
|---|---|---|
| Revenue | $453m | $664m |
| Revenue growth | 12.7% | -7.4% |
| Net income | −$74.3m | $35.4m |
| Operating margin | -15.4% | — |
| Net margin | -16.4% | 5.3% |
| Return on equity | -9.0% | 4.3% |
| Free cash flow | $10.7m | $53.3m |
| Cash | $227m | $163m |
| Total debt | $314m | $226m |
| Debt to equity | 40.0% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $8.6m | — |
| Employees | 2,857 | 1,265 |
| Market value | $2.50bn | $2.29bn |
| Price vs our value range | — | Above our value range |
| Moat score | 53 (Moderate) | 45 (Weak) |
| Insider trades, 12 months | 0 buys, 22 sales | 0 buys, 26 sales |