COHU INC COHU

Technology SIC 3825 - Instruments For Meas & Testing of Electricity & Elec Signals NAICS Manufacturing › Computer and Electronic Product Manufacturing › Navigational, Measuring, Electromedical, and Control Instruments Manufacturing › Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals derived Nasdaq

Cohu, Inc. ("Cohu", "we", "our", "us" and the "Company") was founded in 1947 and is a global supplier of equipment and services optimizing semiconductor manufacturing yield and productivity. Cohu's differentiated and broad product portfolio enables optimized yield and productivity, accelerating customers' manufacturing time-to-market. Our products and services provide enabling capability and technology to customers that deliver connectivity around the globe, autonomous driving to our cities, high-performance computing to enable artificial intelligence ("AI") applications, advanced medical equipment to improve lives, robotic automation to accelerate productivity, and much more.

Cohu's recurring revenue consists of interface products, services, spares, upgrades, configuration tooling, and software analytics, supporting a resilient and scalable business model which complements the systems revenue driven by the capital expenditure of our customers. Our active equipment installed base exceeds 25,000 systems, serving over 280 high-volume manufacturing facilities across 108 customers in 31 countries.

Last close 47.96 2026-10-23
Market cap $2.27B 2026-06-27 share count
52-week range 21.10 - 75.72

Valuation FY2025 figures against the last close

P/S5.0x
P/E—
P/FCF211.5x
EV/EBITDA—
Dividend yield—
Diluted EPS-1.59

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • Rest of the World
  • Philippines
  • Taiwan
  • China
  • Malaysia
  • United States
  • Singapore
Revenue by geography, 7 categories over 3 years. The same figures are in the table below. FY2025 Rest of the World, FY2025: 128.3M (28.3%) 28% Rest of the World Philippines, FY2025: 68.9M (15.2%) 15% Philippines Taiwan, FY2025: 64.7M (14.3%) 14% Taiwan China, FY2025: 60.7M (13.4%) 13% China Malaysia, FY2025: 57.3M (12.6%) 13% Malaysia United States, FY2025: 47M (10.4%) 10% United States Singapore, FY2025: 26.2M (5.8%) 6% FY2024 Rest of the World, FY2024: 116.9M (29.1%) 29% Philippines, FY2024: 51.3M (12.8%) 13% Taiwan, FY2024: 22.6M (5.6%) 6% China, FY2024: 59.5M (14.8%) 15% Malaysia, FY2024: 54M (13.4%) 13% United States, FY2024: 56.7M (14.1%) 14% Singapore, FY2024: 40.8M (10.2%) 10% FY2023 Rest of the World, FY2023: 192M (30.2%) 30% Philippines, FY2023: 92.5M (14.5%) 15% Taiwan, FY2023: 27.9M (4.4%) 4% China, FY2023: 92.4M (14.5%) 15% Malaysia, FY2023: 100.9M (15.9%) 16% United States, FY2023: 77M (12.1%) 12% Singapore, FY2023: 53.5M (8.4%) 8%
Region FY2025FY2024FY2023
Rest of the World $128.3M $116.9M $192.0M
Philippines $68.9M $51.3M $92.5M
Taiwan $64.7M $22.6M $27.9M
China $60.7M $59.5M $92.4M
Malaysia $57.3M $54.0M $100.9M
United States $47.0M $56.7M $77.0M
Singapore $26.2M $40.8M $53.5M

As the company reported it, from the “Note 11 - Segment and Geographic Information - Summary of Net Sales to Customers, Attributed to Countries (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $453.0M$401.8M$636.3M$812.8M$887.2M$636.0M$583.3M$451.8M$352.7M$282.1M
Cost of revenue —————$364.2M$353.5M$292.5M$209.3M$182.1M
Gross profit —————$271.8M$229.8M$159.3M$140.7M$94.8M
R&D $92.2M$84.8M$88.6M$92.6M$92.0M$86.2M$86.1M$56.4M$40.7M$34.8M
SG&A $123.6M$128.0M$132.2M$131.4M$127.0M$129.2M$142.9M$96.8M$60.7M$55.2M
Total operating expenses $522.7M$473.4M$593.0M$687.2M$685.7M$632.7M$635.7M$481.5M$315.0M$279.0M
Operating income -$69.8M-$71.7M$43.3M$125.6M$201.5M$3.3M-$52.3M-$29.8M$37.7M$3.0M
Interest expense $2.1M$618.0K$3.4M$4.2M$6.4M$13.8M$20.6M$5.0M$54.0K—
Pre-tax income -$62.4M-$64.9M$45.8M$126.7M$192.3M-$13.2M-$72.1M-$31.9M$35.4M$6.0M
Income tax $11.9M$4.9M$17.7M$29.9M$25.0M$666.0K$3.1M$631.0K$2.2M$2.7M
Net income -$74.3M-$69.8M$28.2M$96.8M$167.3M-$13.8M-$69.7M-$32.2M$32.8M$3.0M
EPS, basic -1.59-1.490.592.013.53-0.33-1.69-1.011.180.11
EPS, diluted -1.59-1.490.591.983.45-0.33-1.69-1.011.140.11
Shares, diluted (wtd. avg.) 46.7M46.9M48.0M48.8M48.5M41.9M41.2M31.8M28.9M27.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $227.1M$206.4M$245.5M$242.3M$290.2M$149.4M$155.9M$164.5M$134.3M$96.0M
Short-term investments $256.9M$55.7M$90.2M$143.2M$89.7M$20.7M————
Inventory $129.0M$141.9M$155.8M$170.1M$161.1M$142.5M$130.7M$139.3M$62.1M$45.5M
Total current assets $750.0M$534.3M$638.8M$764.9M$750.8M$485.0M$439.7M$485.2M$297.4M$245.1M
Property, plant and equipment $77.0M$74.8M$69.1M$65.0M$64.0M$66.9M$70.9M$74.3M$34.2M$18.2M
Goodwill $283.0M$234.6M$241.7M$213.5M$219.8M$252.3M$238.7M$242.1M$65.6M$58.8M
Other intangibles $79.3M$110.7M$151.8M$140.1M$177.3M$233.7M$275.0M$319.0M$16.7M$17.8M
Total assets $1.24B$999.4M$1.15B$1.23B$1.26B$1.09B$1.08B$1.13B$420.5M$345.5M
Accounts payable $40.7M$30.6M$33.6M$51.8M$85.2M$67.9M$48.7M$48.1M$37.6M$31.4M
Short-term debt $11.1M$1.7M$6.3M$6.3M$14.4M$8.4M$6.5M$6.7M$4.4M—
Total current liabilities $109.1M$85.2M$103.4M$160.9M$192.5M$174.5M$148.9M$160.6M$85.3M$68.7M
Long-term debt $285.0M$7.1M$34.3M$72.7M$103.4M$311.6M$346.5M$343.4M$4.6M—
Retained earnings $174.5M$248.7M$318.6M$290.4M$193.6M$26.2M$42.5M$111.7M$150.7M$124.6M
Total equity $785.5M$856.9M$950.2M$928.8M$882.5M$512.3M$483.1M$545.9M$289.1M$235.5M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $31.7M$2.8M$101.5M$112.9M$97.9M$49.9M$17.3M$34.4M$39.8M$24.5M
Depreciation and amortisation $50.7M$52.5M$49.7M$46.0M$48.6M$52.7M$58.9M$26.0M$9.2M$10.4M
Stock-based compensation $23.0M$20.7M$17.2M$14.9M$13.8M$14.2M—$18.3M$7.0M$7.1M
Capital expenditure $21.0M$10.6M$16.1M$14.8M$12.0M$18.7M$18.0M$5.0M$6.1M$3.5M
Investing cash flow -$257.0M$21.9M-$30.2M-$67.9M$39.9M-$18.4M-$16.5M—-$7.0M-$32.9M
Financing cash flow $246.3M-$59.0M-$68.1M-$91.1M$6.5M-$38.2M-$8.2M$322.1M$2.1M-$6.7M
Dividends paid ———$0$0$5.0M$9.8M$6.9M$6.6M$6.4M
Buybacks $8.6M$27.0M$23.6M$50.7M$7.3M$0$0———

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-004339.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -250M 0 250M 500M 750M 1B Revenue, FY2016: 282.1M Gross profit, FY2016: 94.8M Net income, FY2016: 3M Revenue, FY2017: 352.7M Gross profit, FY2017: 140.7M Net income, FY2017: 32.8M Revenue, FY2018: 451.8M Gross profit, FY2018: 159.3M Net income, FY2018: -32.2M Revenue, FY2019: 583.3M Gross profit, FY2019: 229.8M Net income, FY2019: -69.7M Revenue, FY2020: 636M Gross profit, FY2020: 271.8M Net income, FY2020: -13.8M Revenue, FY2021: 887.2M Net income, FY2021: 167.3M Revenue, FY2022: 812.8M Net income, FY2022: 96.8M Revenue, FY2023: 636.3M Net income, FY2023: 28.2M Revenue, FY2024: 401.8M Net income, FY2024: -69.8M Revenue, FY2025: 453M Net income, FY2025: -74.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $282.1M $352.7M $451.8M $583.3M $636.0M $887.2M $812.8M $636.3M $401.8M $453.0M
Gross profit $94.8M $140.7M $159.3M $229.8M $271.8M — — — — —
Net income $3.0M $32.8M -$32.2M -$69.7M -$13.8M $167.3M $96.8M $28.2M -$69.8M -$74.3M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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