Stock pay outran buybacks. Stock-based pay expense $61M vs $59M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed −3.9% from December 2022 to July 2026.
Over three fiscal years Cohu recorded $61M of stock-based pay expense and spent $59M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Cohu recorded $61M of stock-based pay expense and spent $59M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Growing fast, still losing money. Revenue grew faster than 88% of peers, at an operating loss.
Revenue grew faster than 88% of peers, but the business runs at an operating loss (margin -6.9%).
Sector-normalized EBITDA, earnings, and free cash flow yields.
Earnings yield-1.6%
SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0225 · MAD: 0.0225
EBITDA yield0.4%
SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -1.06Sector median: 0.0423 · MAD: 0.0361
Free cash flow yield1.5%
SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.46Sector median: 0.0274 · MAD: 0.0274
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Cohu
Is Cohu getting weaker?
Its latest SEC filing (Jul 31, 2026) got stronger: operating margin rose 4.2 points to -6.9%. Its overall score is 43/100, down 1 since Oct 28, 2026.
How is Cohu valued vs its peers?
Priced higher than most peers relative to what it earns. Valuation scores 19/100 against 1,711 technology peers.Earnings yield -1.6% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -1.6% vs peers 2.2% (weaker than 100% of peers).
Is Cohu growing?
At about the same pace as its peers. Growth scores 55/100 against 1,711 technology peers.Revenue growth 32.7% vs a peer median of 8.5% (stronger than 88% of peers).Revenue growth 32.7% vs peers 8.5% (stronger than 88% of peers).3-year revenue growth -11.2% vs a peer median of 4.8% (weaker than 90% of peers).3-year revenue growth -11.2% vs peers 4.8% (weaker than 90% of peers).
How profitable is Cohu?
Less profitable than most of its peers. Profitability scores 18/100 against 1,711 technology peers.Return on assets -3.1% vs a peer median of 2.9% (weaker than 85% of peers).Return on assets -3.1% vs peers 2.9% (weaker than 85% of peers).
How risky is Cohu?
Lower risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings.Current ratio 5.74× vs a peer median of 1.83× (stronger than 92% of peers).Current ratio 5.74× vs peers 1.83× (stronger than 92% of peers).Beta 1.51 vs a peer median of 0.87 (weaker than 83% of peers).Beta 1.51 vs peers 0.87 (weaker than 83% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 27, 2026 · filed Jul 31, 2026 · compared with the quarter ended Mar 28, 2026
Got stronger
Operating margin rose 4.2 points to -6.9%
Worth watching: Cohu is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.
Previous quarter
Latest quarter
Change
Revenue (12 months)
481.3M USD
522.6M USD
+8.6%
Net income (12 months)
−55.5M USD
−38.8M USD
−30.1%
Operating margin
-11.1%
-6.9%
+4.2 pts
Free cash flow (12 months)
40.2M USD
34.9M USD
−13.1%
Debt
296.0M USD
296.2M USD
+0.1%
Cash
210.9M USD
219.6M USD
+4.1%
Shares outstanding
47.2M
47.3M
+0.3%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Valuations in Semiconductor Equipment & Materials are near the top of their range since Feb 2021.
84% of months since Feb 2021 were valued lower than now.
81% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +95% vs the whole market, against a usual +84%.
Feb 2021Shaded: most expensive fifth of its range2026
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since Feb 2021; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Operating margin
22.7%
15.4%
6.8%
-17.8%
-15.4%
▲ 2.4 pts
Net margin
18.9%
11.9%
4.4%
-17.4%
-16.4%
▲ 1.0 pts
Return on assets (ROA)
13.3%
7.9%
2.4%
-7.0%
-6.0%
▲ 1.0 pts
Return on equity (ROE)
19.0%
10.4%
3.0%
-8.1%
-9.5%
▼ 1.3 pts
Free cash flow margin
9.7%
12.1%
13.4%
-2.0%
2.4%
▲ 4.3 pts
Current ratio
3.90×
4.75×
6.18×
6.27×
6.88×
▲ 9.6%
Quick ratio
3.06×
3.70×
4.67×
4.61×
5.69×
▲ 24%
Debt to equity
0.14×
0.09×
0.04×
0.01×
0.39×
▲ >999%
Interest coverage
31.42×
30.06×
12.79×
-115.97×
-33.97×
▲ 71%
COHU price history
Price history is added with the daily price update and will appear after the next one.