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Cohu Inc (COHU) stock

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NASDAQ: COHU Nasdaq Semiconductor Materials & Equipment Next results ~February 11, 2027

D Fundamentals grade

Cohu Inc is a US-listed company in the semiconductor materials & equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$54

Valuation models combined (4)

Base case. Range ~$38–$76. Weighted average of 4 models (growth cash-flow model, forward price-to-earnings vs peers, forward price-to-sales vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Cohu Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 8 selling0 purchases and 22 sales by directors and officers, last 12 monthsInsider trades
  • Funds194 adding, 129 cuttingOf 53 active managers that changed their stake, 31 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Cohu files

Where Cohu stands after its latest 10-Q

Revenue for the twelve months to September 2026 was $569m, up 34.0% on a year earlier, faster than the 32.7% growth a quarter earlier. That growth ranks 3 of 13 among the semiconductor materials & equipment companies we cover. Free-cash-flow margin rose to 9.8% from -7.2% a year earlier. Operating margin widened to -2.4% from -17.9%. The diluted share count is up 4.7% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 3 of our 6 financial-health checks. Our revenue-to-maturity cash-flow model value is $66.71 a share, against a share price of $55.11.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 11, 2027 (estimated)

Cohu Inc's trailing-twelve-month revenue grew 34.0% year on year, with a free-cash-flow margin of 9.8%. Where it stands out: revenue growth of 34.0% ranks 4 of 20 semiconductor materials & equipment companies we cover. Where it lags: net margin of -4.0% ranks 19 of 20 semiconductor materials & equipment companies we cover.

Current signal Long-term debt rising: Long-term debt rose 4045% year over year, to 22% of total assets.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 34.0% over the last 12 months, against a median of 15.8% for semiconductor materials & equipment companies we cover.
  • Margins widening. Operating margin is up 15.5 points on a year ago.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 28.4% over 90 days.

Things to watch

  • Loss-making. Operating margin is -2.4%: costs exceed revenue.
  • Share dilution. Diluted shares rose 4.7% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 71% and a beta of 3.0 against the S&P 500.
  • Insiders selling. 8 insiders sold $13M of stock over the past 365 days and none bought (64% under pre-set trading plans).
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 4.0% ranks 18 of 20 semiconductor materials & equipment companies we cover (median 2.5%).
  • Below peers: change in growth rate. Change in growth rate of +1.3pp ranks 17 of 20 semiconductor materials & equipment companies we cover (median +7.5pp).

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$0.43 against an average estimate of $0.34: beat by 24.6%
Revenue
$173m, up 37.0% on a year earlier
Share reaction
+4.7% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Guidance given
fourth quarter 2026 sales $178m (fourth quarter 2026); fourth quarter 2026 sales year-over-year growth growth 46% (fourth quarter 2026)
Next report
October 28, 2026; average EPS estimate $0.35

Cohu's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-4.8%
  • 1 week-1.0%
  • 1 month-34.2%
  • This year+107.9%
  • 1 year+103.3%
  • 5 years+37.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$569M
Operating margin
-2.4%
Net margin
-4.0%
EPS (TTM, diluted)
$-0.46

Growth

Revenue growth
+34.0%
Change in growth rate
+1.3 pts
Share count change
+4.7%

Cash

Free cash flow (TTM)
$55.9M
FCF margin
9.8%
Stock pay % of revenue
4.0%

Earnings

Last results
October 28, 2026
Next results (est.)
February 11, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Insider trade
  4. Insider trade
  5. Insider trade
  6. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Cohu Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Cohu Inc as an operating company, with every model that fits that kind of business. Cost of equity 12.1%: the 10-year Treasury yield (4.9%) plus a beta of 1.59 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$52 ~$33–$69 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$38 ~$33–$51 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$3.3 ~$2.0–$5.0 Left out: out of range vs price (0.07x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$47 ~$39–$110 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$76 ~$63–$91 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$54 ~$38–$76 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Cohu Inc with Semiconductor Materials & Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$12.15$13.34$21.33$15.54$22.24$38.75$38.01$32.05$35.39$26.83$23.49$48.37
Market value$326m$366m$617m$494m$915m$1.6bn$1.8bn$1.6bn$1.7bn$1.3bn$1.1bn$2.4bn
+ Net debt (− = net cash)−$115m−$96m−$125m$194m$205m$176m−$171m−$163m−$205m−$191m$87m$30m
Enterprise value$210m$270m$491m$688m$1.1bn$1.8bn$1.7bn$1.4bn$1.5bn$1.1bn$1.2bn$2.4bn
Multiples
Price / sales 1.2x1.3x1.7x1.1x1.6x2.6x2.1x1.9x2.7x3.1x2.4x4.2x
Price / earnings n/m120.6x18.8x———11.0x16.1x60.4x———
Price / free cash flow 21.9x17.4x18.3x16.8x—51.9x21.4x15.9x19.9x—102.2x42.3x
EV / EBITDA 10.9x20.1x10.5x—171.3x32.1x6.7x8.2x16.1x——85.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

53 /100

Moderate moat

How hard Cohu's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 18 / 20

    Cash operating profit has been a median 13.4% of total assets over 9 years.

  • Pricing power 10 / 20

    Gross margin has been a median 33.5%, moving by 4.5 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 3.3%; its worst year was -17.9%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 7 of 10 years, at a median 7.9% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 4.8% over five years; stock-based pay has been a median 2.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.06 +584% $625m +38%
Next $2.37 +123% $839m +34%

Next year's EPS estimate has moved +28.4% in 90 days, across 8 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +12.0% on 90 days ago. In the last 30 days, 2 analysts raised Cohu Inc's forecast and 0 cut it.

Consensus EPS forecast Cohu Inc, last 90 days
$0.50 $1.00 $1.50 $2.00 $2.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.95 Current fiscal year, 60 days ago: $0.95 Current fiscal year, 30 days ago: $0.95 Current fiscal year, 7 days ago: $0.93 Current fiscal year, Now: $1.06 $1.06 Next fiscal year, 90 days ago: $1.85 Next fiscal year, 60 days ago: $1.85 Next fiscal year, 30 days ago: $1.85 Next fiscal year, 7 days ago: $1.81 Next fiscal year, Now: $2.37 $2.37

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.95$1.85
60 days ago $0.95$1.85
30 days ago $0.95$1.85
7 days ago $0.93$1.81
Now $1.06$2.37

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.34 $0.43 +24.6%
Jun 2026 $0.14 $0.26 +87.4%
Mar 2026 $0.03 $0.01 −68.2%
Dec 2025 $0.06 −$0.15 −341.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 28, 2026
  • fourth quarter 2026 sales fourth quarter 2026 about $178m
    “Cohu expects fourth quarter 2026 sales to be up 46% year-over-year and in the range of $178 million +/- $7 million.” source
  • fourth quarter 2026 sales year-over-year growth fourth quarter 2026 about 46% growth
    “Cohu expects fourth quarter 2026 sales to be up 46% year-over-year and in the range of $178 million +/- $7 million.” source
  • high-performance computing revenue outlook fiscal year 2026 about $120m Raised
    “We are raising our fiscal year 2026 high-performance computing revenue outlook to approximately $120 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

8 analysts, Oct 2026
Buy8100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026178
  2. Sep 2026178
  3. Aug 2026178

Counts of recommendations published by analysts covering Cohu Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
22.8%
of tradable shares
Days to cover
8.01
at average volume
Short interest, 1 month
+4%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
2.6%
of shares
Employees
2,777
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +103.3%

$23.79 on October 31, 2025 to $48.37

ThenNowEffect
Revenue (last 12 months) $394m $523m +32.7%
P/S multiple 2.8x 4.3x +54.1%
Share count 47m 47m −0.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +54.4%

$31.33 on November 3, 2023 to $48.37

ThenNowEffect
Revenue (last 12 months) $746m $523m −30.0%
P/S multiple 2.0x 4.3x +114.7%
Share count 48m 47m +2.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
COHU−0%−16%+10%−25%−13%+108%
Industry peers (median)+67%−39%+44%+0%+43%+26%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
COHU50%33%67%50%58%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
COHU−42%−37%−31%−35%−51%−47%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 74% from February 12, 2021 to April 8, 2025. Getting back needed a 279% gain, reached on May 11, 2026, 398 days after the low.

Price behaviour

52-week range
$21.38 – $73.91
From 52-week high
−34.6%
vs 50-day average
−14.9%
vs 200-day average
+2.4%
Volatility (1 year)
71%
Beta vs S&P 500
2.96

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±5.5%
After a week
7 up, 4 down
typical move ±8.3%
After a month
7 up, 4 down
typical move ±12.2%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 +4.7% 0.0% — —
July 30, 2026 +22.0% +2.4% +31.6% +22.0%
April 30, 2026 +2.0% +1.3% +6.2% +21.9%
February 12, 2026 −10.4% −1.5% −7.6% −16.3%
October 29, 2025 +2.5% −1.1% +2.6% +3.6%
July 31, 2025 +0.8% −2.0% +3.0% +4.8%
May 1, 2025 +4.3% +2.2% +1.1% +8.3%
February 13, 2025 +1.2% +1.1% +0.8% −17.3%
October 31, 2024 +5.4% −1.5% +9.4% +7.4%
July 31, 2024 −9.7% +0.2% −22.3% −15.0%
May 2, 2024 0.0% +2.2% −1.1% +10.5%
February 15, 2024 −3.4% +0.2% −5.1% −7.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Cohu Inc in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Cohu Inc
$300M $400M $500M $600M $700M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $636.3M Revenue (TTM), FY24 Q1: $564.6M Revenue (TTM), FY24 Q2: $500.3M Revenue (TTM), FY24 Q3: $444.9M Revenue (TTM), FY24 Q4: $401.8M Revenue (TTM), FY25 Q1: $391M Revenue (TTM), FY25 Q2: $393.9M Revenue (TTM), FY25 Q3: $424.8M Revenue (TTM), FY25 Q4: $453M Revenue (TTM), FY26 Q1: $481.3M Revenue (TTM), FY26 Q2: $522.6M Revenue (TTM), FY26 Q3: $569.3M $569.3M

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $636.3M
FY24 Q1 $564.6M
FY24 Q2 $500.3M
FY24 Q3 $444.9M
FY24 Q4 $401.8M
FY25 Q1 $391M
FY25 Q2 $393.9M
FY25 Q3 $424.8M
FY25 Q4 $453M
FY26 Q1 $481.3M
FY26 Q2 $522.6M
FY26 Q3 $569.3M
Revenue growth, TTM YoY Cohu Inc
-40% -20% 0% 20% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -21.7% Revenue growth, TTM YoY, FY24 Q1: -28.9% Revenue growth, TTM YoY, FY24 Q2: -32.9% Revenue growth, TTM YoY, FY24 Q3: -35.5% Revenue growth, TTM YoY, FY24 Q4: -36.9% Revenue growth, TTM YoY, FY25 Q1: -30.7% Revenue growth, TTM YoY, FY25 Q2: -21.3% Revenue growth, TTM YoY, FY25 Q3: -4.5% Revenue growth, TTM YoY, FY25 Q4: 12.7% Revenue growth, TTM YoY, FY26 Q1: 23.1% Revenue growth, TTM YoY, FY26 Q2: 32.7% Revenue growth, TTM YoY, FY26 Q3: 34.0% 34.0%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -21.7%
FY24 Q1 -28.9%
FY24 Q2 -32.9%
FY24 Q3 -35.5%
FY24 Q4 -36.9%
FY25 Q1 -30.7%
FY25 Q2 -21.3%
FY25 Q3 -4.5%
FY25 Q4 12.7%
FY26 Q1 23.1%
FY26 Q2 32.7%
FY26 Q3 34.0%
Operating margin (TTM) Cohu Inc
-30% -20% -10% 0% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 6.8% Operating margin (TTM), FY24 Q1: 1.0% Operating margin (TTM), FY24 Q2: -5.3% Operating margin (TTM), FY24 Q3: -11.2% Operating margin (TTM), FY24 Q4: -17.8% Operating margin (TTM), FY25 Q1: -20.7% Operating margin (TTM), FY25 Q2: -20.8% Operating margin (TTM), FY25 Q3: -17.9% Operating margin (TTM), FY25 Q4: -15.4% Operating margin (TTM), FY26 Q1: -11.1% Operating margin (TTM), FY26 Q2: -6.9% Operating margin (TTM), FY26 Q3: -2.4% -2.4%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 6.8%
FY24 Q1 1.0%
FY24 Q2 -5.3%
FY24 Q3 -11.2%
FY24 Q4 -17.8%
FY25 Q1 -20.7%
FY25 Q2 -20.8%
FY25 Q3 -17.9%
FY25 Q4 -15.4%
FY26 Q1 -11.1%
FY26 Q2 -6.9%
FY26 Q3 -2.4%
FCF margin (TTM) Cohu Inc
-10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 13.4% FCF margin (TTM), FY24 Q1: 10.0% FCF margin (TTM), FY24 Q2: 1.1% FCF margin (TTM), FY24 Q3: -1.0% FCF margin (TTM), FY24 Q4: -2.0% FCF margin (TTM), FY25 Q1: -3.0% FCF margin (TTM), FY25 Q2: 0.7% FCF margin (TTM), FY25 Q3: -7.2% FCF margin (TTM), FY25 Q4: 2.4% FCF margin (TTM), FY26 Q1: 8.3% FCF margin (TTM), FY26 Q2: 6.7% FCF margin (TTM), FY26 Q3: 9.8% 9.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 13.4%
FY24 Q1 10.0%
FY24 Q2 1.1%
FY24 Q3 -1.0%
FY24 Q4 -2.0%
FY25 Q1 -3.0%
FY25 Q2 0.7%
FY25 Q3 -7.2%
FY25 Q4 2.4%
FY26 Q1 8.3%
FY26 Q2 6.7%
FY26 Q3 9.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 171 323 309 206 215 317 270 282 353 452 583 636 887 813 636 402 453 569
Gross profit 52 110 100 68 63 106 89 95 141 159 230 272 — — — — — —
EBITDA −4 41 27 −5 −18 32 19 13 47 −4 7 56 250 172 93 −19 −19 28
Operating income −15 30 17 −14 −31 19 8 3 38 −30 −52 3 202 126 43 −72 −70 −14
Net income −28 25 16 −12 −33 9 0 3 33 −32 −70 −14 167 97 28 −70 −74 −23
Diluted EPS −$1.20 $1.02 $0.64 −$0.50 −$1.34 $0.33 $0.01 $0.11 $1.14 −$1.01 −$1.69 −$0.33 $3.45 $1.98 $0.59 −$1.49 −$1.59 −$0.46
Growth (year on year)
Revenue — +88.4% −4.2% −33.2% +4.0% +47.6% −14.8% +4.6% +25.0% +28.1% +29.1% +9.0% +39.5% −8.4% −21.7% −36.9% +12.7% +34.0%
EBITDA — — −32.6% −117.3% — — −39.9% −30.0% +248.7% −108.0% — — +346.5% −31.4% −45.8% −120.6% — —
Operating income — — −41.6% −180.5% — — −59.0% −61.8% — −178.9% — — — −37.7% −65.5% −265.6% — —
Net income — — −36.2% −177.9% — — −97.1% — — −198.0% — — — −42.1% −70.9% −348.0% — —
Diluted EPS — — −37.3% −178.1% — — −97.0% — — −188.6% — — — −42.6% −70.2% −352.5% — —
Margins
Gross margin 30.6% 34.1% 32.4% 32.9% 29.6% 33.5% 33.0% 33.6% 39.9% 35.3% 39.4% 42.7% — — — — — —
EBITDA margin −2.4% 12.6% 8.9% −2.3% −8.6% 10.1% 7.1% 4.8% 13.3% −0.8% 1.1% 8.8% 28.2% 21.1% 14.6% −4.8% −4.2% 4.9%
Operating margin −8.8% 9.2% 5.6% −6.8% −14.4% 6.1% 3.0% 1.1% 10.7% −6.6% −9.0% 0.5% 22.7% 15.4% 6.8% −17.8% −15.4% −2.4%
Net margin −16.4% 7.6% 5.1% −5.9% −15.6% 2.8% 0.1% 1.1% 9.3% −7.1% −11.9% −2.2% 18.9% 11.9% 4.4% −17.4% −16.4% −4.0%
Free-cash-flow margin 0.1% 4.6% 3.5% 4.8% −0.1% 5.8% 5.5% 7.5% 9.5% 6.5% −0.1% 4.9% 9.7% 12.1% 13.4% −2.0% 2.4% 9.8%
Cash flow
Cash from operations 3 20 12 13 3 20 21 25 40 34 17 50 98 113 101 3 32 66
Capital spending 3 5 1 3 4 1 7 3 6 5 18 19 12 15 16 11 21 10
Free cash flow 0 15 11 10 −0 18 15 21 34 29 −1 31 86 98 85 −8 11 56
Stock-based pay 3 4 4 4 5 6 7 7 7 18 14 14 14 15 17 21 23 23
Free cash flow after stock pay −3 11 7 5 −5 12 8 14 27 11 −15 17 72 83 68 −29 −12 33
Balance sheet
Cash 38 46 53 103 52 71 115 96 134 164 155 149 290 242 246 206 227 272
Total debt 0 0 0 0 0 0 0 0 9 359 360 326 119 80 41 15 314 302
Net debt (negative = net cash) −38 −46 −53 −103 −52 −71 −115 −96 −125 194 205 176 −171 −163 −205 −191 87 30
Diluted shares 23m 24m 25m 24m 25m 26m 27m 27m 29m 32m 41m 42m 48m 49m 48m 47m 47m 49m
Returned to shareholders
Dividends 6 6 6 7 4 6 6 6 7 7 10 5 0 0 — — — —
Buybacks — — — — — — — — — — 0 0 7 51 24 27 9 0
Total returned 6 6 6 7 4 6 6 6 7 7 10 5 7 51 24 27 9 0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · September 26, 2026
What it owns · $1.3bn
Short-term assets $836mLonger-term assets $461m
What it owes, and who funded it · $953m
Short-term liabilities $162mShareholders' equity $791m
  • Short-term assets cover short-term liabilities $836m of assets due within a year against $162m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $272m of cash against $302m of debt.
  • Debt below 40% of shareholders' equity Debt is 38% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 11% to 38% over five years.
  • A year's operating cash flow covers at least 20% of debt $66m of operating cash flow against $302m of debt.
  • Operating profit covers interest at least five times over Operating income of −$14m against $7m of interest.

From Cohu Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$0
Buybacks, last 3 fiscal years
$59.2M
Diluted share count
+4.7%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
R&D spending
17.6%
of revenue
Sales & admin spending
23.5%
of revenue

Competitors: side by side with peers

Closest by revenue in semiconductor materials & equipment
Last 12 months unless stated COHU CAMT VECO ACLS NVMI KLIC Median
Revenue, last 12 months $569m $496m $683m $866m $881m $950m $994m
Revenue growth, last 12 months 34.0% 15.6% −2.5% −3.3% 31.0% 44.4% 15.8%
Revenue growth, 3-year average −6.2% 79.8% 2.1% −5.4% 99.1% 4.8% 7.8%
Revenue growth, latest quarter 37.0% — 16.5% 10.6% — 122.6% 33.7%
Gross margin 42.7% 50.5% 37.9% 43.0% 57.4% 48.2% 47.7%
Operating margin −2.4% 25.8% 2.7% 10.3% 28.8% 13.2% 13.2%
Operating margin, 3-year average −10.5% 16.3% 7.6% 17.2% 27.3% 0.9% 16.0%
Net margin −4.0% 10.2% 3.4% 10.7% 29.4% 12.2% 10.9%
Cash from operations / revenue 11.6% 28.6% 14.6% 8.7% 27.9% 5.8% 18.6%
Free-cash-flow margin 9.8% 25.6% 12.5% 7.6% 24.7% 4.3% 15.0%
Free-cash-flow margin, 3-year average 0.6% 15.0% 8.1% 11.7% 26.8% 10.0% 11.9%
Stock pay / revenue 4.0% 3.4% 5.3% 2.5% 3.0% 2.9% 2.4%
Change in share count 4.7% 1.2% 2.3% −3.7% 2.1% −1.0% 0.8%

Median of all 20 companies we cover in semiconductor materials & equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

20 semiconductor materials & equipment companies
Measure Company Peer median Rank
Revenue growth Growth 34.0% 15.8% 4 of 20
Change in growth rate Growth +1.3pp +7.5pp 17 of 20
Operating margin Profitability -2.4% 13.2% 18 of 19
Net margin Profitability -4.0% 11.1% 19 of 20
Free-cash-flow margin Cash generation 9.8% 17.5% 14 of 20
Stock pay as % of revenue Cash generation 4.0% 2.5% 18 of 20
Long-term debt as % of assets Balance sheet 22.0% 22.0% 7 of 13
Change in share count Balance sheet 4.7% 0.9% 17 of 19

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 27, 2025
Geography
Region Revenue Share YoY
Rest of The World $128M 28.3% ▲ 9.7%
PH $68.9M 15.2% ▲ 34.4%
Taiwan $64.7M 14.3% ▲ 186.6%
China $60.7M 13.4% ▲ 2.0%
Malaysia $57.3M 12.6% ▲ 6.0%
United States $47M 10.4% ▼ 17.1%
Singapore $26.2M 5.8% ▼ 35.9%

From Cohu Inc's 10-K filed February 17, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$4B
Institutions reporting
347
Shares held vs prior quarter
▲ 8.1%
Positions opened / closed
106 / 21

Top buyers and sellers, Q2 2026: 194 institutions bought and 129 sold ; the biggest buyer was Capital World Investors (+2.8M shares) and the biggest seller Barrow Hanley Mewhinney & Strauss LLC (−1.8M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $546M 7.4M 13.5% ▲ 1.0%
Capital World Investors $204M 2.8M 5.0% New
Vanguard Portfolio Management LLC $170M 2.3M 4.2% ▲ 13.0%
Invesco Ltd. $150M 2.0M 3.7% ▲ 713.5%
Vanguard Capital Management LLC $148M 2.0M 3.7% ▲ 2.0%
State Street Corp $140M 1.9M 3.5% ▲ 3.4%
Geode Capital Management, LLC $96.1M 1.3M 2.4% ▲ 10.4%
Systematic Financial Management LP $86.8M 1.2M 2.1% ▼ 16.2%
Two Sigma Investments, LP $84.4M 1.1M 2.1% ▲ 4.4%
Dimensional Fund Advisors LP $82.9M 1.1M 2.1% ▼ 28.4%
First Eagle Investment Management, LLC $81.1M 1.1M 2.0% ▲ 131.4%
Capital International Investors $80.8M 1.1M 2.0% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Cohu Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $13M 22 trades by 8 insiders · 64% under pre-set plans
Net ▼ $13M net selling
Insider Date Trade Shares Price Value
Bohrson Christopher Chief Recurring Officer October 15, 2026 Sell pre-set plan 1,000 $55.31 $55,310
Muller Luis A President & CEO October 2, 2026 Sell pre-set plan 21,662 $73.00 $1.6M
Muller Luis A President & CEO September 25, 2026 Sell pre-set plan 27,236 $65.00 $1.8M
Muller Luis A President & CEO September 21, 2026 Sell pre-set plan 55,794 $60.00 $3.3M
Bohrson Christopher Sr VP & Chief Customer Officer August 19, 2026 Sell 10,000 $55.82 $558,200
Bohrson Christopher Sr VP & Chief Customer Officer August 17, 2026 Sell pre-set plan 1,000 $61.90 $61,900
Caggia Andrew M Director August 5, 2026 Sell pre-set plan 5,252 $51.73 $271,686
Caggia Andrew M Director August 5, 2026 Sell pre-set plan 10,000 $51.74 $517,400
Richardson Nina Director August 5, 2026 Sell pre-set plan 3,055 $51.54 $157,455
Bohrson Christopher Sr VP & Chief Customer Officer July 15, 2026 Sell pre-set plan 1,000 $57.92 $57,920
Bohrson Christopher Sr VP & Chief Customer Officer June 15, 2026 Sell pre-set plan 1,000 $63.88 $63,880
Donahue James A Director May 22, 2026 Sell 10,257 $46.77 $479,720

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around February 11, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 30, 2026
  • April 30, 2026
  • February 12, 2026
  • October 29, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on Cohu Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Cohu Inc in brief

What does Cohu Inc do?
Cohu Inc is a US-listed company in the semiconductor materials & equipment industry. Its financial year ends in December.
What is Cohu Inc's stock ticker?
Cohu Inc trades under the ticker COHU on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Cohu Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Cohu Inc reported revenue of $569M, 34.0% higher than a year earlier, according to its SEC filings.
What is Cohu Inc's free cash flow?
Cohu Inc's free-cash-flow margin is 9.8% of revenue over the trailing twelve months, ranking 14 of the 20 semiconductor materials & equipment companies we cover.
Who are Cohu Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Capital World Investors and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Cohu Inc buying back stock, and does it pay a dividend?
Cohu Inc spent $0 on share repurchases over the trailing twelve months, and its diluted share count still rose 4.7% over the year.
What is Cohu Inc's market cap?
On November 2, 2026, Cohu Inc's market capitalisation was about $2.4B and net debt of $29.8M. Market figures come from third-party market data and may be delayed.
How much debt does Cohu Inc have?
Cohu Inc's debt-to-equity ratio is 38.2%, from its latest balance sheet (11.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Cohu Inc's competitors?
In our Semiconductor Materials & Equipment peer group, the companies closest to Cohu Inc are Camtek LTD, Veeco Instruments Inc, Axcelis Technologies Inc, Nova LTD. and Kulicke & Soffa Industries Inc. The side-by-side comparison below sets their revenue, margins and growth against Cohu Inc's.
Are insiders buying or selling Cohu Inc stock?
Over the last 12 months, Cohu Inc's directors and officers reported 0 open-market purchases and 22 sales on Form 4. The insider trading page charts every trade.
When is Cohu Inc's next earnings date?
Around February 11, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Cohu Inc announces its own schedule.