Cohu Inc Financials
Cohu Inc (COHU) reported $522.6M in revenue over the twelve months to Jun 27, 2026, up 32.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Cohu's downturn exposes a fixed-cost business: gross margins remain meaningful, but lower scale leaves losses and a newly debt-funded balance sheet.
In FY2025, gross margin was42.8% yet operating margin remained-15.4% ; the spread shows that gross profit is not covering the relatively persistent SG&A and R&D base. Revenue recovered from FY2024, but this cost structure still produced an operating loss, pointing to fixed-cost absorption rather than simply weak production economics.
The earnings-to-cash relationship was less negative than the income statement: net loss of
FY2025 marked a capital-structure reset: long-term debt rose from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Cohu Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Cohu Inc has an operating margin of -15.4%, meaning the company loses $15 on every $100 of revenue. This results in a profitability score of 17/100. This is up from -17.8% the prior year.
Cohu Inc's revenue grew 12.7% year-over-year to $453.0M, a solid pace of expansion. This earns a growth score of 7/100.
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 65/100, indicating a strong balance sheet with room for future borrowing.
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 94/100.
Cohu Inc has a free cash flow margin of 2.4%, earning a moderate score of 41/100. The company generates positive cash flow after capital investments, but with room for improvement.
Cohu Inc posts a -9.5% return on equity (ROE), meaning it loses $9 for every $100 of shareholders' equity. This results in a returns score of 23/100. This is down from -8.2% the prior year.
Cohu Inc scores 3.97, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($2.3B) relative to total liabilities ($457.4M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
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.
Cohu Inc reported a net loss of $74.3M while generating $31.7M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Cohu Inc reported an operating loss of $69.8M against $2.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Cohu Inc generated $453.0M in revenue in fiscal year 2025. This represents an increase of 12.7% from the prior year.
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.
Cohu Inc reported -$74.3M in net income in fiscal year 2025. This represents a decrease of 6.4% from the prior year.
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
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.
Cohu Inc held $227.1M in cash against $285.0M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
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.
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.
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.
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
Cohu Inc invested $92.2M in research and development in fiscal year 2025. This represents an increase of 8.7% from the prior year.
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.
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
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $149.0M+19.1% | $125.1M+2.4% | $122.2M-3.2% | $126.2M+17.2% | $107.7M+11.2% | $96.8M+2.8% | $94.1M-1.3% | $95.3M |
| Cost of Revenue | $81.4M+21.1% | $67.2M-8.3% | $73.3M+3.3% | $71.0M+17.2% | $60.6M+11.2% | $54.5M-0.3% | $54.7M+7.8% | $50.7M |
| Gross Profit | $67.6M+16.7% | $57.9M+18.3% | $48.9M-11.5% | $55.3M+17.3% | $47.1M+11.3% | $42.3M+7.2% | $39.5M-11.6% | $44.7M |
| R&D Expenses | $24.9M-5.5% | $26.4M+12.7% | $23.4M+4.3% | $22.5M-3.2% | $23.2M+0.2% | $23.2M+11.3% | $20.8M+2.3% | $20.3M |
| SG&A Expenses | $34.4M-0.5% | $34.6M+8.4% | $31.9M+0.5% | $31.8M+6.4% | $29.9M-0.5% | $30.0M-1.7% | $30.5M+0.8% | $30.3M |
| Operating Income | $292K+102.6% | -$11.2M+28.0% | -$15.5M-59.4% | -$9.7M+43.6% | -$17.2M+36.9% | -$27.3M-26.4% | -$21.6M-37.1% | -$15.8M |
| Interest Expense | $1.6M-0.1% | $1.6M+0.1% | $1.6M+1372.7% | $110K-12.7% | $126K-36.4% | $198K+100.0% | $99K+15.1% | $86K |
| Income Tax | $2.1M-29.7% | $3.1M-64.9% | $8.7M+334.1% | -$3.7M-281.3% | $2.0M-57.6% | $4.8M+135.4% | $2.1M-36.4% | $3.2M |
| Net Income | -$159K+98.7% | -$12.1M+46.3% | -$22.5M-448.4% | -$4.1M+75.7% | -$16.9M+45.2% | -$30.8M-44.2% | -$21.4M-18.3% | -$18.1M |
| EPS (Diluted) | $0.00+100.0% | -$0.26+45.8% | -$0.48-433.3% | -$0.09+75.0% | -$0.36+45.5% | -$0.66-43.5% | -$0.46-17.9% | -$0.39 |
COHU Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3B+1.9% | $1.2B-0.6% | $1.2B+21.7% | $1.0B+1.1% | $1.0B+3.6% | $975.5M-2.4% | $999.4M-3.2% | $1.0B |
| Current Assets | $788.6M+4.6% | $754.2M+0.6% | $750.0M+46.0% | $513.5M+4.6% | $491.0M+2.6% | $478.8M-10.4% | $534.3M-1.5% | $542.5M |
| Cash & Equivalents | $219.6M+4.1% | $210.9M-7.1% | $227.1M+51.4% | $149.9M-8.8% | $164.4M+8.3% | $151.9M-26.4% | $206.4M+9.1% | $189.3M |
| Inventory | $140.3M+7.3% | $130.8M+1.4% | $129.0M-3.9% | $134.2M-2.6% | $137.8M-1.1% | $139.4M-1.8% | $141.9M-1.6% | $144.1M |
| Goodwill | $278.9M-0.5% | $280.3M-1.0% | $283.0M+0.3% | $282.3M-0.1% | $282.5M+3.6% | $272.6M+16.2% | $234.6M-3.4% | $242.9M |
| Total Liabilities | $483.8M+3.8% | $466.0M+1.9% | $457.4M+140.5% | $190.2M+5.9% | $179.7M+21.5% | $147.8M+3.7% | $142.5M-3.6% | $147.8M |
| Current Liabilities | $137.4M+17.1% | $117.3M+7.5% | $109.1M-6.7% | $116.9M+16.3% | $100.6M+9.3% | $92.0M+8.0% | $85.2M+0.2% | $85.0M |
| Long-Term Debt | $285.0M0.0% | $285.0M0.0% | $285.0M+4042.2% | $6.9M-5.1% | $7.3M+2.7% | $7.1M+0.1% | $7.1M-10.9% | $7.9M |
| Total Equity | $774.6M+0.7% | $769.0M-2.1% | $785.5M-5.5% | $831.1M+0.1% | $830.5M+0.3% | $827.7M-3.4% | $856.9M-3.1% | $884.5M |
| Retained Earnings | $162.2M-0.1% | $162.4M-6.9% | $174.5M-11.4% | $197.0M-2.0% | $201.1M-7.7% | $217.9M-12.4% | $248.7M-7.9% | $270.1M |
Not reported in any period shown, so not listed: Accounts Receivable.
COHU Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $10.4M+1.2% | $10.3M-74.1% | $39.8M+384.4% | -$14.0M-187.3% | $16.0M+257.6% | -$10.2M-493.0% | -$1.7M-109.9% | $17.4M |
| Capital Expenditures | $2.3M+13.6% | $2.0M-40.0% | $3.4M-14.8% | $4.0M+48.9% | $2.7M-75.7% | $11.0M+260.7% | $3.0M+35.0% | $2.3M |
| Free Cash Flow | $8.1M-1.8% | $8.3M-77.3% | $36.5M+302.9% | -$18.0M-234.2% | $13.4M+163.3% | -$21.1M-344.5% | -$4.8M-131.5% | $15.1M |
| Investing Cash Flow | -$852K+96.2% | -$22.4M+89.3% | -$209.6M-1551.0% | -$12.7M-1608.5% | -$743K+97.8% | -$34.0M-286.4% | $18.2M+181.6% | -$22.3M |
| Financing Cash Flow | $1.3M+126.5% | -$5.0M-102.0% | $247.9M+51952.3% | -$478K-143.4% | $1.1M+151.2% | -$2.2M-350.4% | $859K+110.5% | -$8.2M |
| Share Buybacks | $0 | $0 | $0-100.0% | -$1K-99.3% | $138K-98.4% | $8.4M+26303.1% | $32K-99.6% | $8.1M |
Not reported in any period shown, so not listed: Dividends Paid.
COHU Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.4%-0.9pp | 46.3%+6.3pp | 40.0%-3.7pp | 43.8%0.0pp | 43.8%0.0pp | 43.7%+1.8pp | 41.9%-4.9pp | 46.8% |
| Operating Margin | 0.2%+9.1pp | -8.9%+3.8pp | -12.7%-5.0pp | -7.7%+8.3pp | -16.0%+12.2pp | -28.2%-5.2pp | -23.0%-6.4pp | -16.5% |
| Net Margin | -0.1%+9.5pp | -9.7%+8.8pp | -18.4%-15.2pp | -3.3%+12.4pp | -15.7%+16.1pp | -31.8%-9.1pp | -22.7%-3.7pp | -18.9% |
| Return on Equity | 0.0%+1.5pp | -1.6%+1.3pp | -2.9%-2.4pp | -0.5%+1.5pp | -2.0%+1.7pp | -3.7%-1.2pp | -2.5%-0.5pp | -2.0% |
| Return on Assets | 0.0%+1.0pp | -1.0%+0.8pp | -1.8%-1.4pp | -0.4%+1.3pp | -1.7%+1.5pp | -3.2%-1.0pp | -2.1%-0.4pp | -1.8% |
| Current Ratio | 5.74-0.7x | 6.43-0.4x | 6.88+2.5x | 4.39-0.5x | 4.88-0.3x | 5.20-1.1x | 6.27-0.1x | 6.38 |
| Debt-to-Equity | 0.370.0x | 0.370.0x | 0.36+0.4x | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.01 |
| FCF Margin | 5.5%-1.2pp | 6.6%-23.2pp | 29.8%+44.1pp | -14.2%-26.7pp | 12.4%+34.3pp | -21.9%-16.8pp | -5.1%-20.9pp | 15.8% |
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Where Cohu Inc Ranks
Frequently Asked Questions
What is Cohu Inc's annual revenue?
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.
How fast is Cohu Inc's revenue growing?
Cohu Inc (COHU) revenue grew by 12.7% year-over-year, from $401.8M to $453.0M in fiscal year 2025.
Is Cohu Inc profitable?
No, Cohu Inc (COHU) reported a net income of -$74.3M in fiscal year 2025, with a net profit margin of -16.4%.
What is Cohu Inc's EBITDA?
Cohu Inc (COHU) had EBITDA of -$19.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Cohu Inc have?
As of fiscal year 2025, Cohu Inc (COHU) had $227.1M in cash and equivalents against $285.0M in long-term debt.
What is Cohu Inc's gross margin?
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.
What is Cohu Inc's operating margin?
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.
What is Cohu Inc's net profit margin?
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.
What is Cohu Inc's return on equity (ROE)?
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.
What is Cohu Inc's free cash flow?
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.
What is Cohu Inc's operating cash flow?
Cohu Inc (COHU) generated $31.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cohu Inc's total assets?
Cohu Inc (COHU) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cohu Inc's capital expenditures?
Cohu Inc (COHU) invested $21.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Cohu Inc spend on research and development?
Cohu Inc (COHU) invested $92.2M in research and development during fiscal year 2025.
What is Cohu Inc's current ratio?
Cohu Inc (COHU) had a current ratio of 6.88 as of fiscal year 2025, which is generally considered healthy.
What is Cohu Inc's debt-to-equity ratio?
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.
What is Cohu Inc's return on assets (ROA)?
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.
What is Cohu Inc's Altman Z-Score?
Cohu Inc (COHU) has an Altman Z-Score of 3.97, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Cohu Inc's Piotroski F-Score?
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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cohu Inc's earnings high quality?
Cohu Inc (COHU) reported a net loss of $74.3M while generating $31.7M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.
Can Cohu Inc cover its interest payments?
Cohu Inc (COHU) reported an operating loss of $69.8M against $2.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.
How financially healthy is Cohu Inc?
Cohu Inc (COHU) scores 41 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.