What is Cohu's operating income?

Cohu's total operating income in 2025 was -$69.77 million, based on the following breakdown: Total Gross Profit: $193.62 million Total Operating Expenses: $263.39 million

Cohu (COHU) Financials

$69.40 +3.95 (+6.04%)

Closing price 04:00 PM Eastern

Extended Trading

$69.94 +0.53 (+0.77%)

As of 06:00 PM Eastern

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Annual Income Statements for Cohu

This table shows Cohu's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/26/2015	12/31/2016	12/30/2017	12/29/2018	12/28/2019	12/26/2020	12/25/2021	12/31/2022	12/30/2023	12/28/2024	12/27/2025
Net Income / (Loss) Attributable to Common Shareholders	0.25	3.04	33	-32	-70	-14	167	97	28	-70	-74
Consolidated Net Income / (Loss)	0.25	3.04	33	-32	-70	-14	167	97	28	-70	-74
Net Income / (Loss) Continuing Operations	5.79	3.26	33	-33	-69	-14	167	97	28	-70	-74
Total Pre-Tax Income	8.00	6.01	35	-32	-72	-13	192	127	46	-65	-62
Total Operating Income	7.96	3.04	38	-30	-52	3.26	202	126	43	-72	-70
Total Gross Profit	89	100	143	159	230	272	387	383	303	180	194
Total Revenue	270	282	353	452	583	636	887	813	636	402	453
Operating Revenue	270	282	353	452	583	636	887	813	636	402	453
Total Cost of Revenue	181	182	209	292	354	364	500	429	333	221	259
Operating Cost of Revenue	181	182	209	292	354	364	500	429	333	221	259
Total Operating Expenses	81	97	106	189	282	269	185	258	260	252	263
Selling, General & Admin Expense	51	55	61	97	143	129	127	131	132	128	124
Research & Development Expense	33	35	41	56	86	86	92	93	89	85	92
Amortization Expense	-	6.90	4.21	17	40	39	35	33	36	39	37
Restructuring Charge	-	0.00	0.00	19	13	7.62	1.82	0.61	2.42	0.04	10
Total Other Income / (Expense), net	0.04	2.96	-2.36	-2.13	-20	-16	-9.17	1.16	2.54	6.72	7.36
Interest Expense	-	0.00	0.05	4.98	21	13	9.82	4.49	3.75	0.86	2.05
Interest & Investment Income	0.04	0.34	0.67	1.19	0.76	0.22	0.24	4.01	12	9.98	8.04
Other Income / (Expense), net	-	2.62	-2.98	1.66	0.04	-3.17	0.41	1.64	-5.21	-2.40	1.38
Income Tax Expense	2.21	2.75	2.24	0.63	-3.08	0.67	25	30	18	4.87	12
Basic Earnings per Share	$0.01	$0.11	$1.18	($1.01)	($1.69)	($0.33)	$3.53	$2.01	$0.59	($1.49)	($1.59)
Weighted Average Basic Shares Outstanding	26.06M	26.66M	27.84M	31.78M	41.16M	41.85M	47.41M	48.18M	47.49M	46.91M	46.72M
Diluted Earnings per Share	$0.01	$0.11	$1.14	($1.01)	($1.69)	($0.33)	$3.45	$1.98	$0.59	($1.49)	($1.59)
Weighted Average Diluted Shares Outstanding	26.79M	27.48M	28.92M	31.78M	41.16M	41.85M	48.46M	48.80M	48.03M	46.91M	46.72M
Weighted Average Basic & Diluted Shares Outstanding	25M	27.60M	27.80M	31.90M	41.45M	42.22M	48.56M	47.28M	47.08M	46.71M	46.89M

This table shows Cohu's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025	3/28/2026
Net Income / (Loss) Attributable to Common Shareholders	3.92	-2.03	-15	-16	-18	-21	-31	-17	-4.10	-22	-12
Consolidated Net Income / (Loss)	3.92	-2.03	-15	-16	-18	-21	-31	-17	-4.10	-22	-12
Net Income / (Loss) Continuing Operations	3.92	-2.03	-15	-16	-18	-21	-31	-17	-4.10	-22	-12
Total Pre-Tax Income	8.64	-0.50	-16	-14	-15	-19	-26	-15	-7.82	-14	-9.01
Total Operating Income	7.40	0.33	-18	-16	-16	-22	-27	-17	-9.72	-15	-11
Total Gross Profit	71	65	49	47	45	39	42	47	55	49	58
Total Revenue	151	137	108	105	95	94	97	108	126	122	125
Operating Revenue	151	137	108	105	95	94	97	108	126	122	125
Total Cost of Revenue	80	72	58	58	51	55	54	61	71	73	67
Operating Cost of Revenue	80	72	58	58	51	55	54	61	71	73	67
Total Operating Expenses	63	65	67	63	60	61	70	64	65	64	69
Selling, General & Admin Expense	32	33	35	32	30	31	30	30	32	32	35
Research & Development Expense	21	22	22	21	20	21	23	23	22	23	26
Amortization Expense	8.86	9.74	9.80	9.75	9.79	9.75	9.85	10	10	7.28	7.30
Restructuring Charge	0.74	0.38	0.01	0.01	0.01	0.01	6.63	1.21	0.51	1.80	0.77
Total Other Income / (Expense), net	1.23	-0.83	1.64	1.82	0.94	2.32	1.36	2.41	1.90	1.70	2.14
Interest Expense	0.77	0.75	0.53	0.14	0.09	0.10	0.20	0.13	0.11	1.62	1.62
Interest & Investment Income	3.21	2.85	2.71	2.33	2.61	2.33	1.61	1.39	1.34	3.71	3.84
Other Income / (Expense), net	-1.20	-2.92	-0.54	-0.37	-1.58	0.10	-0.06	1.15	0.68	-0.39	-0.08
Income Tax Expense	4.72	1.53	-1.70	1.29	3.23	2.06	4.84	2.05	-3.71	8.69	3.06
Basic Earnings per Share	$0.08	($0.04)	($0.31)	($0.34)	($0.39)	($0.45)	($0.66)	($0.36)	($0.09)	($0.48)	($0.26)
Weighted Average Basic Shares Outstanding	47.62M	47.49M	47.13M	46.97M	46.82M	46.91M	46.65M	46.66M	46.75M	46.72M	47.00M
Diluted Earnings per Share	$0.08	($0.04)	($0.31)	($0.34)	($0.39)	($0.45)	($0.66)	($0.36)	($0.09)	($0.48)	($0.26)
Weighted Average Diluted Shares Outstanding	48.11M	48.03M	47.13M	46.97M	46.82M	46.91M	46.65M	46.66M	46.75M	46.72M	47.00M
Weighted Average Basic & Diluted Shares Outstanding	47.51M	47.08M	47.09M	46.92M	46.61M	46.71M	46.50M	46.68M	46.69M	46.89M	47.18M

This table details how cash moves in and out of Cohu's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/26/2015	12/31/2016	12/30/2017	12/29/2018	12/28/2019	12/26/2020	12/25/2021	12/31/2022	12/30/2023	12/28/2024	12/27/2025
Net Change in Cash & Equivalents	44	-19	38	31	-8.99	-6.57	141	-48	3.18	-39	21
Net Cash From Operating Activities	21	25	40	34	17	50	98	113	101	2.78	32
Net Cash From Continuing Operating Activities	23	25	40	35	17	50	98	113	101	2.78	32
Net Income / (Loss) Continuing Operations	0.25	3.04	33	-32	-70	-14	167	97	28	-70	-74
Consolidated Net Income / (Loss)	0.25	3.04	33	-32	-70	-14	167	97	28	-70	-74
Depreciation Expense	11	10	9.20	26	59	53	49	46	50	52	51
Amortization Expense	0.00	0.00	1.40	24	9.46	2.37	2.29	1.52	1.58	1.59	1.80
Non-Cash Adjustments To Reconcile Net Income	9.63	8.07	7.57	18	16	33	-41	20	30	31	35
Changes in Operating Assets and Liabilities, net	1.37	3.03	-11	-1.38	2.47	-25	-79	-51	-8.35	-13	19
Net Cash From Investing Activities	31	-66	-14	-645	-17	-18	40	-68	-30	22	-257
Net Cash From Continuing Investing Activities	31	-33	-7.04	-322	-17	-18	40	-68	-30	22	-257
Purchase of Property, Plant & Equipment	-6.59	-	-	-	-18	-19	-12	-15	-16	-11	-21
Acquisitions	0.00	0.00	0.00	-	-	-	0.00	0.00	-70	0.00	-35
Purchase of Investments	-0.66	-	-	-	-0.32	-20	-205	-209	-97	-82	-263
Sale of Property, Plant & Equipment	-	3.45	6.20	5.97	1.77	17	0.16	0.35	0.22	0.11	0.50
Sale and/or Maturity of Investments	33	72	85	98	0.00	0.00	136	155	153	114	62
Net Cash From Financing Activities	-4.98	-6.71	2.15	322	-8.18	-38	6.53	-91	-68	-59	246
Net Cash From Continuing Financing Activities	-4.98	-6.71	2.15	322	-8.18	-38	6.53	-91	-68	-59	246
Repayment of Debt	0.00	0.00	-1.63	-9.40	-3.82	-41	-206	-38	-39	-31	-11
Repurchase of Common Equity	-	-0.36	-	-8.98	0.00	0.00	-7.32	-51	-24	-27	-8.59
Issuance of Debt	-	0.00	0.00	348	5.48	5.88	1.38	-	0.00	0.00	296
Other Financing Activities, net	-	0.00	0.00	-0.82	-0.02	1.93	-4.58	-2.12	-5.71	-0.73	-30
Other Net Changes in Cash	-	-	-	0.00	-1.53	0.13	-3.49	-	-	-	-0.36
Cash Interest Paid	-	0.00	0.00	4.98	15	16	6.25	3.44	3.42	0.80	0.54
Cash Income Taxes Paid	-0.25	6.81	7.09	6.24	15	5.77	23	23	44	25	-2.83

This table details how cash moves in and out of Cohu's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025	3/28/2026
Net Change in Cash & Equivalents	18	-48	-54	12	-14	17	-55	13	-14	77	-16
Net Cash From Operating Activities	29	2.70	-14	1.10	17	-1.72	-10	16	-14	40	10
Net Cash From Continuing Operating Activities	29	2.70	-14	1.10	17	-1.72	-10	16	-14	40	10
Net Income / (Loss) Continuing Operations	3.92	-2.03	-15	-16	-18	-21	-31	-17	-4.10	-22	-12
Consolidated Net Income / (Loss)	3.92	-2.03	-15	-16	-18	-21	-31	-17	-4.10	-22	-12
Depreciation Expense	12	13	13	13	13	13	13	13	14	11	10
Amortization Expense	0.34	0.37	0.40	0.44	0.48	0.27	0.47	0.55	0.57	0.22	0.14
Non-Cash Adjustments To Reconcile Net Income	7.70	7.47	9.34	9.20	6.89	7.69	9.22	7.92	7.70	9.72	9.41
Changes in Operating Assets and Liabilities, net	5.01	-16	-22	-5.94	15	-1.27	-2.15	11	-32	42	2.41
Net Cash From Investing Activities	-0.50	-42	6.82	19	-22	18	-34	-0.74	-13	-210	-22
Net Cash From Continuing Investing Activities	-0.50	-42	6.82	19	-22	18	-34	-0.74	-13	-210	-22
Purchase of Property, Plant & Equipment	-4.01	-3.91	-3.33	-2.02	-2.25	-3.04	-11	-2.66	-3.96	-3.38	-2.03
Acquisitions	-	-43	0.00	-	-	-	-35	-	-	0.17	0.00
Purchase of Investments	-30	-24	-22	-4.56	-39	-16	-12	-11	-21	-220	-69
Sale of Property, Plant & Equipment	-	0.02	0.00	0.06	0.04	0.02	0.00	0.03	0.04	0.43	0.00
Sale and/or Maturity of Investments	33	29	32	26	19	37	24	13	12	13	48
Net Cash From Financing Activities	-6.00	-12	-44	-7.26	-8.21	0.86	-2.15	1.10	-0.48	248	-4.95
Net Cash From Continuing Financing Activities	-6.00	-12	-44	-7.26	-8.21	0.86	-2.15	1.10	-0.48	248	-4.95
Repayment of Debt	-1.01	-1.32	-30	-0.61	-0.13	-0.97	-0.28	-0.40	-0.42	-10	-0.38
Repurchase of Common Equity	-4.68	-13	-11	-8.19	-8.07	-0.03	-8.45	-0.14	0.00	-	0.00
Issuance of Debt	-	-	0.00	-	-	-	8.73	-	-	288	0.00
Issuance of Common Equity	-0.30	-	-4.10	1.54	-	-	-2.15	1.64	-0.06	-	-4.58
Other Financing Activities, net	-0.01	-5.66	-0.01	-0.00	-0.01	-0.71	-0.00	-0.00	-0.00	-30	0.00
Effect of Exchange Rate Changes	-4.54	-	-2.89	-1.03	-0.62	-	-8.20	-3.85	13	-	0.91
Cash Interest Paid	0.25	0.72	0.74	0.02	0.02	0.03	0.20	0.11	0.11	0.12	1.38
Cash Income Taxes Paid	5.21	30	6.10	7.16	6.52	5.14	6.47	7.63	6.81	-24	3.56

This table presents Cohu's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/26/2015	12/31/2016	12/30/2017	12/29/2018	12/28/2019	12/26/2020	12/25/2021	12/31/2022	12/30/2023	12/28/2024	12/27/2025
Total Assets	345	346	420	1,134	1,078	1,090	1,259	1,227	1,150	999	1,243
Total Current Assets	234	245	297	485	440	485	751	765	639	534	750
Cash & Equivalents	115	96	134	164	155	149	290	242	246	206	227
Short-Term Investments	1.65	32	21	0.56	0.90	21	90	143	90	56	257
Accounts Receivable	60	63	71	149	128	152	193	176	125	92	109
Inventories, net	51	46	62	139	131	143	161	170	156	142	129
Prepaid Expenses	-	-	8.34	26	17	19	16	24	18	19	24
Other Current Assets	6.26	8.59	0.28	1.68	3.99	1.83	0.77	8.97	5.01	-	3.89
Plant, Property, & Equipment, net	19	18	34	74	71	67	64	65	69	75	77
Total Noncurrent Assets	92	82	89	574	567	538	444	398	442	390	416
Goodwill	60	59	66	242	239	252	220	214	242	235	283
Intangible Assets	25	18	17	319	275	234	177	140	152	111	79
Other Noncurrent Operating Assets	6.32	5.45	6.49	13	53	52	47	44	49	45	54
Total Liabilities & Shareholders' Equity	345	346	420	1,134	1,078	1,090	1,259	1,227	1,150	999	1,243
Total Liabilities	107	110	131	588	595	578	377	299	200	143	457
Total Current Liabilities	63	69	85	161	149	174	192	161	103	85	109
Short-Term Debt	-	0.00	4.39	6.79	6.52	8.39	14	6.31	6.32	1.75	11
Accounts Payable	27	31	38	48	49	68	85	52	34	31	41
Accrued Expenses	12	14	14	58	46	36	26	23	19	24	21
Current Deferred Revenue	3.73	6.89	-	-	12	14	7.30	6.89	4.75	2.76	2.80
Current Deferred & Payable Income Tax Liabilities	4.20	1.92	2.16	11	3.89	3.86	6.87	27	4.02	2.39	2.79
Current Employee Benefit Liabilities	16	15	20	29	24	35	40	38	32	20	22
Other Current Liabilities	-	-	6.61	6.90	7.65	8.67	13	8.02	3.59	3.59	8.63
Total Noncurrent Liabilities	44	41	46	427	446	404	184	138	97	57	348
Long-Term Debt	-	0.00	4.58	346	347	312	103	73	34	7.05	285
Noncurrent Deferred Revenue	6.76	6.38	6.27	9.71	8.44	6.89	6.14	6.49	7.07	5.69	3.98
Noncurrent Deferred & Payable Income Tax Liabilities	6.95	5.85	2.92	39	31	29	26	21	23	19	15
Noncurrent Employee Benefit Liabilities	15	16	19	20	22	22	18	10	11	8.48	5.47
Other Noncurrent Operating Liabilities	1.76	1.77	3.56	4.26	38	35	31	27	21	17	38
Total Equity & Noncontrolling Interests	238	235	289	546	483	512	883	929	950	857	786
Total Preferred & Common Equity	238	235	289	546	483	512	883	929	950	857	786
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	238	235	289	546	483	512	883	929	950	857	786
Common Stock	132	139	156	460	475	490	724	736	736	747	731
Retained Earnings	128	125	151	112	43	26	194	290	319	249	174
Treasury Stock	-	-	-	-	-	0.00	-7.32	-58	-69	-88	-88
Accumulated Other Comprehensive Income / (Loss)	-22	-28	-18	-26	-34	-4.33	-27	-40	-35	-51	-32

This table presents Cohu's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/24/2022	4/1/2023	7/1/2023	9/30/2023	3/30/2024	6/29/2024	9/28/2024	3/29/2025	6/28/2025	9/27/2025	3/28/2026
Total Assets	1,198	1,188	1,188	1,168	1,074	1,039	1,032	976	1,010	1,021	1,235
Total Current Assets	749	709	722	719	573	546	542	479	491	514	754
Cash & Equivalents	232	227	275	293	191	203	189	152	164	150	211
Short-Term Investments	137	98	97	94	80	59	80	49	45	48	278
Accounts Receivable	188	176	144	130	116	103	92	94	91	124	101
Inventories, net	165	176	174	167	152	146	144	139	138	134	131
Prepaid Expenses	24	32	29	31	24	20	20	24	26	26	27
Other Current Assets	1.97	0.59	2.83	2.72	10	15	17	21	27	32	5.98
Plant, Property, & Equipment, net	62	67	67	67	76	75	77	76	77	77	77
Total Noncurrent Assets	387	411	399	382	425	418	413	421	442	431	404
Goodwill	203	224	224	221	238	237	243	273	283	282	280
Intangible Assets	143	144	135	125	141	131	123	105	97	86	72
Other Noncurrent Operating Assets	41	43	40	37	46	50	48	43	63	62	52
Total Liabilities & Shareholders' Equity	1,198	1,188	1,188	1,168	1,074	1,039	1,032	976	1,010	1,021	1,235
Total Liabilities	316	249	235	221	159	143	148	148	180	190	466
Total Current Liabilities	171	145	138	128	91	79	85	92	101	117	117
Short-Term Debt	6.03	6.42	6.26	6.17	2.80	2.38	2.61	11	11	11	11
Accounts Payable	70	55	46	37	30	22	23	31	41	51	49
Accrued Expenses	21	21	19	20	25	25	27	19	18	17	18
Current Deferred Revenue	8.91	13	11	6.74	4.59	2.80	2.10	2.42	2.04	3.25	5.31
Current Deferred & Payable Income Tax Liabilities	15	18	24	23	2.46	2.77	1.92	2.65	2.39	1.70	3.15
Current Employee Benefit Liabilities	40	27	28	32	23	21	24	20	20	25	24
Other Current Liabilities	9.80	5.74	4.07	4.54	3.02	3.33	4.05	7.08	6.63	8.16	7.61
Total Noncurrent Liabilities	145	104	96	93	68	64	63	56	79	73	349
Long-Term Debt	73	38	36	35	8.02	7.59	7.91	7.06	7.25	6.88	285
Noncurrent Deferred Revenue	5.01	7.18	6.41	6.30	5.31	5.37	4.95	5.69	6.32	3.55	3.86
Noncurrent Deferred & Payable Income Tax Liabilities	23	23	22	22	23	22	22	19	18	16	17
Noncurrent Employee Benefit Liabilities	17	10	8.28	7.94	11	10	11	8.47	8.44	7.68	5.16
Other Noncurrent Operating Liabilities	27	25	24	21	21	19	18	16	39	39	38
Total Equity & Noncontrolling Interests	882	939	953	946	915	896	885	828	831	831	769
Total Preferred & Common Equity	882	939	953	946	915	896	885	828	831	831	769
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	882	939	953	946	915	896	885	828	831	831	769
Common Stock	731	720	726	729	728	735	740	745	751	756	732
Retained Earnings	269	306	317	321	304	288	270	218	201	197	162
Treasury Stock	-45	-51	-52	-56	-73	-80	-88	-90	-88	-88	-87
Accumulated Other Comprehensive Income / (Loss)	-72	-37	-37	-47	-44	-47	-38	-45	-33	-34	-38

This table displays calculated financial ratios and metrics derived from Cohu's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/26/2015	12/31/2016	12/30/2017	12/29/2018	12/28/2019	12/26/2020	12/25/2021	12/31/2022	12/30/2023	12/28/2024	12/27/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-14.84%	4.61%	25.04%	28.09%	29.12%	9.03%	39.50%	-8.39%	-21.71%	-36.86%	12.74%
EBITDA Growth	-39.92%	-16.41%	182.06%	-51.26%	-27.42%	244.10%	357.91%	-30.88%	-48.84%	-122.36%	20.41%
EBIT Growth	-58.98%	-28.82%	513.38%	-180.93%	-85.92%	100.17%	224,265.56%	-37.01%	-70.07%	-294.58%	7.66%
NOPAT Growth	-60.97%	-71.33%	2,039.43%	-159.00%	-75.71%	106.23%	7,582.11%	-45.26%	-72.29%	-288.65%	2.65%
Net Income Growth	-97.13%	1,115.60%	980.72%	-198.72%	-114.94%	80.20%	1,312.41%	-42.12%	-70.93%	-347.97%	-6.38%
EPS Growth	-96.97%	1,000.00%	936.36%	-188.60%	-67.33%	80.47%	1,145.45%	-42.61%	-70.20%	-352.54%	-6.71%
Operating Cash Flow Growth	9.16%	14.28%	61.93%	-13.37%	-49.85%	188.84%	96.30%	15.26%	-10.09%	-97.26%	1,040.82%
Free Cash Flow Firm Growth	-6.20%	-57.72%	-89.38%	-34,180.52%	104.21%	-33.18%	1,170.08%	-56.66%	-106.66%	121.26%	-3,317.83%
Invested Capital Growth	-20.18%	-11.27%	28.16%	384.19%	-8.42%	-2.19%	-6.31%	0.30%	5.28%	-7.86%	-0.99%
Revenue Q/Q Growth	-7.67%	2.62%	3.95%	23.70%	-4.68%	10.48%	-1.17%	-0.09%	-7.81%	-9.69%	6.62%
EBITDA Q/Q Growth	-23.46%	2.62%	10.68%	-52.72%	1,686.84%	127.60%	-1.65%	5.12%	-22.28%	-2,426.68%	16.74%
EBIT Q/Q Growth	-41.68%	17.09%	13.88%	-175.98%	45.58%	100.27%	0.07%	5.49%	-41.93%	-34.36%	7.63%
NOPAT Q/Q Growth	-38.76%	-47.01%	36.85%	-165.04%	46.51%	111.17%	2.03%	1.59%	-47.03%	-44.18%	8.08%
Net Income Q/Q Growth	118.85%	4.83%	17.14%	-203.04%	36.28%	69.99%	3.74%	0.77%	-45.66%	-38.29%	-1.54%
EPS Q/Q Growth	116.67%	-8.33%	17.53%	-194.39%	45.66%	70.27%	2.37%	0.00%	-44.86%	-37.96%	-1.92%
Operating Cash Flow Q/Q Growth	-45.23%	58.71%	34.25%	-24.06%	99.23%	19.18%	6.47%	-0.22%	-19.68%	-61.40%	421.39%
Free Cash Flow Firm Q/Q Growth	-29.61%	-31.12%	117.49%	-1,717.01%	104.02%	-71.19%	14.45%	-26.78%	-115.06%	102.20%	45.09%
Invested Capital Q/Q Growth	-7.79%	-4.20%	-4.79%	377.40%	-6.38%	2.92%	-0.82%	5.21%	9.18%	-3.55%	-8.17%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	33.02%	35.45%	40.66%	35.26%	39.40%	42.73%	43.62%	47.16%	47.60%	44.87%	42.75%
EBITDA Margin	7.13%	5.70%	12.86%	4.89%	2.75%	8.68%	28.49%	21.50%	14.05%	-4.97%	-3.51%
Operating Margin	2.95%	1.08%	10.70%	-6.59%	-8.97%	0.51%	22.71%	15.45%	6.80%	-17.84%	-15.40%
EBIT Margin	2.95%	2.01%	9.85%	-6.22%	-8.96%	0.01%	22.76%	15.65%	5.98%	-18.43%	-15.10%
Profit (Net Income) Margin	0.09%	1.08%	9.31%	-7.18%	-11.95%	-2.17%	18.86%	11.92%	4.42%	-17.38%	-16.40%
Tax Burden Percent	3.12%	50.59%	92.87%	101.60%	96.69%	104.74%	86.99%	76.43%	61.45%	107.50%	119.01%
Interest Burden Percent	100.55%	106.04%	101.78%	113.48%	137.85%	-14,641.11%	95.25%	99.63%	120.37%	87.69%	91.25%
Effective Tax Rate	27.63%	45.73%	6.35%	0.00%	0.00%	0.00%	13.01%	23.57%	38.55%	0.00%	0.00%
Return on Invested Capital (ROIC)	3.81%	1.30%	26.00%	-4.67%	-5.17%	0.34%	27.34%	15.45%	4.16%	-7.97%	-8.13%
ROIC Less NNEP Spread (ROIC-NNEP)	9.84%	0.04%	27.97%	-45.39%	-22.25%	-9.01%	41.56%	15.13%	3.64%	-0.80%	3.40%
Return on Net Nonoperating Assets (RNNOA)	-3.71%	-0.02%	-13.48%	-3.09%	-8.37%	-3.11%	-3.34%	-4.75%	-1.17%	0.24%	-0.91%
Return on Equity (ROE)	0.10%	1.28%	12.52%	-7.77%	-13.55%	-2.77%	23.99%	10.69%	3.00%	-7.73%	-9.04%
Cash Return on Invested Capital (CROIC)	26.25%	13.25%	1.31%	-136.20%	3.61%	2.55%	33.86%	15.15%	-0.98%	0.21%	-7.14%
Operating Return on Assets (OROA)	2.31%	1.64%	9.07%	-3.62%	-4.73%	0.01%	17.19%	10.23%	3.20%	-6.89%	-6.10%
Return on Assets (ROA)	0.07%	0.88%	8.58%	-4.17%	-6.30%	-1.27%	14.24%	7.79%	2.37%	-6.50%	-6.62%
Return on Common Equity (ROCE)	0.10%	1.28%	12.52%	-7.77%	-13.55%	-2.77%	23.99%	10.69%	3.00%	-7.73%	-9.04%
Return on Equity Simple (ROE_SIMPLE)	0.11%	1.29%	11.36%	-5.94%	-14.43%	-2.69%	18.96%	10.43%	2.96%	-8.15%	0.00%
Net Operating Profit after Tax (NOPAT)	5.76	1.65	35	-21	-37	2.28	175	96	27	-50	-49
NOPAT Margin	2.14%	0.59%	10.02%	-4.61%	-6.28%	0.36%	19.76%	11.81%	4.18%	-12.49%	-10.78%
Net Nonoperating Expense Percent (NNEP)	-6.03%	1.26%	-1.97%	40.72%	17.08%	9.35%	-14.23%	0.31%	0.52%	-7.17%	-11.53%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	9.52%	2.68%	-5.80%	-4.52%
Cost of Revenue to Revenue	66.98%	64.55%	59.34%	64.74%	60.60%	57.27%	56.38%	52.84%	52.40%	55.13%	57.25%
SG&A Expenses to Revenue	18.98%	19.57%	17.22%	21.42%	24.50%	20.32%	14.31%	16.17%	20.78%	31.87%	27.28%
R&D to Revenue	12.28%	12.35%	11.55%	12.49%	14.77%	13.55%	10.37%	11.39%	13.92%	21.11%	20.36%
Operating Expenses to Revenue	30.07%	34.37%	29.96%	41.86%	48.37%	42.22%	20.90%	31.71%	40.80%	62.71%	58.15%
Earnings before Interest and Taxes (EBIT)	7.96	5.67	35	-28	-52	0.09	202	127	38	-74	-68
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	19	16	45	22	16	55	253	175	89	-20	-16
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.33	1.51	2.09	1.16	1.90	3.17	2.10	1.64	1.77	1.46	1.40
Price to Tangible Book Value (P/TBV)	2.08	2.24	2.92	0.00	0.00	61.83	3.81	2.65	3.02	2.44	2.59
Price to Revenue (P/Rev)	1.18	1.26	1.71	1.40	1.57	2.56	2.09	1.88	2.64	3.11	2.42
Price to Earnings (P/E)	1,270.20	117.21	18.37	0.00	0.00	0.00	11.06	15.76	59.71	0.00	0.00
Dividend Yield	1.97%	1.80%	1.13%	1.54%	1.08%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.08%	0.85%	5.44%	0.00%	0.00%	0.00%	9.04%	6.34%	1.67%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.49	1.92	2.99	1.11	1.65	2.68	2.56	1.96	2.12	1.65	1.52
Enterprise Value to Revenue (EV/Rev)	0.74	0.81	1.30	1.81	1.91	2.79	1.79	1.50	2.18	2.48	2.01
Enterprise Value to EBITDA (EV/EBITDA)	10.43	14.19	10.07	37.09	69.48	32.17	6.28	6.98	15.51	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	25.20	40.28	13.14	0.00	0.00	19,734.31	7.87	9.59	36.42	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	34.81	138.17	12.93	0.00	0.00	778.30	9.06	12.71	52.12	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	9.34	9.30	11.49	23.81	64.55	35.61	16.22	10.81	13.66	359.02	28.68
Enterprise Value to Free Cash Flow (EV/FCFF)	5.05	13.59	256.27	0.00	43.57	103.90	7.32	12.96	0.00	748.54	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.03	0.65	0.73	0.62	0.13	0.09	0.04	0.01	0.38
Long-Term Debt to Equity	0.00	0.00	0.02	0.63	0.72	0.61	0.12	0.08	0.04	0.01	0.36
Financial Leverage	-0.38	-0.47	-0.48	0.07	0.38	0.35	-0.08	-0.31	-0.32	-0.30	-0.27
Leverage Ratio	1.42	1.46	1.46	1.86	2.15	2.18	1.68	1.37	1.27	1.19	1.37
Compound Leverage Factor	1.43	1.55	1.49	2.11	2.96	-318.91	1.60	1.37	1.52	1.04	1.25
Debt to Total Capital	0.00%	0.00%	3.01%	39.26%	42.22%	38.44%	11.78%	7.84%	4.10%	1.02%	27.37%
Short-Term Debt to Total Capital	0.00%	0.00%	1.47%	0.76%	0.78%	1.01%	1.44%	0.63%	0.64%	0.20%	1.02%
Long-Term Debt to Total Capital	0.00%	0.00%	1.54%	38.50%	41.44%	37.44%	10.34%	7.21%	3.46%	0.81%	26.35%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	-0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	96.99%	60.78%	57.78%	61.56%	88.22%	92.16%	95.90%	98.98%	72.63%
Debt to EBITDA	0.00	0.00	0.20	15.96	22.01	5.80	0.47	0.45	0.45	-0.44	-18.61
Net Debt to EBITDA	0.00	0.00	-3.23	8.50	12.28	2.72	-1.04	-1.75	-3.30	12.67	11.81
Long-Term Debt to EBITDA	0.00	0.00	0.10	15.66	21.60	5.64	0.41	0.42	0.38	-0.35	-17.92
Debt to NOPAT	0.00	0.00	0.25	-16.92	-9.64	140.20	0.67	0.82	1.53	-0.18	-6.06
Net Debt to NOPAT	0.00	0.00	-4.15	-9.01	-5.38	65.69	-1.50	-3.20	-11.10	5.05	3.85
Long-Term Debt to NOPAT	0.00	0.00	0.13	-16.60	-9.46	136.53	0.59	0.76	1.29	-0.14	-5.84
Altman Z-Score	3.75	3.93	4.97	1.44	1.69	2.65	4.93	4.99	6.65	6.31	2.44
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	-0.04%	-0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.71	3.57	3.49	3.02	2.95	2.78	3.90	4.75	6.18	6.27	6.88
Quick Ratio	2.80	2.78	2.66	1.96	1.91	1.85	2.98	3.49	4.45	4.15	5.43
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	40	17	1.78	-607	26	17	217	94	-6.27	1.33	-43
Operating Cash Flow to CapEx	326.15%	0.00%	0.00%	0.00%	106.38%	3,050.76%	826.78%	782.62%	640.71%	26.39%	154.94%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	33.00	-122.04	1.24	1.27	22.10	20.96	-1.67	1.55	-20.87
Operating Cash Flow to Interest Expense	0.00	0.00	736.11	6.92	0.84	3.70	9.97	25.14	27.05	3.23	15.43
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	850.87	8.12	0.05	3.58	8.76	21.93	22.83	-9.02	5.47
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.78	0.82	0.92	0.58	0.53	0.59	0.76	0.65	0.54	0.37	0.40
Accounts Receivable Turnover	4.14	4.59	5.26	4.10	4.21	4.55	5.15	4.41	4.23	3.72	4.52
Inventory Turnover	3.59	3.76	3.89	2.90	2.62	2.67	3.30	2.59	2.05	1.49	1.91
Fixed Asset Turnover	10.61	15.15	13.46	8.33	8.03	9.23	13.56	12.60	9.49	5.59	5.97
Accounts Payable Turnover	6.89	6.20	6.07	6.83	7.30	6.25	6.53	6.27	7.81	6.90	7.28
Days Sales Outstanding (DSO)	88.20	79.48	69.41	89.04	86.72	80.30	70.92	82.86	86.26	98.22	80.73
Days Inventory Outstanding (DIO)	101.60	97.07	93.81	125.68	139.40	136.89	110.74	140.75	178.38	245.26	190.61
Days Payable Outstanding (DPO)	52.96	58.87	60.17	53.46	49.98	58.43	55.87	58.22	46.72	52.86	50.15
Cash Conversion Cycle (CCC)	136.84	117.68	103.06	161.25	176.14	158.76	125.79	165.39	217.93	290.62	221.20
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	134	119	153	739	677	662	620	622	655	604	598
Invested Capital Turnover	1.78	2.23	2.60	1.01	0.82	0.95	1.38	1.31	1.00	0.64	0.75
Increase / (Decrease) in Invested Capital	-34	-15	34	587	-62	-15	-42	1.85	33	-52	-5.96
Enterprise Value (EV)	201	228	457	820	1,115	1,776	1,589	1,220	1,386	997	909
Market Capitalization	318	356	603	632	918	1,626	1,851	1,527	1,681	1,251	1,097
Book Value per Share	$9.11	$8.82	$10.22	$13.42	$11.71	$12.21	$18.13	$19.50	$20.00	$18.38	$16.82
Tangible Book Value per Share	$5.84	$5.94	$7.31	($0.36)	($0.74)	$0.63	$9.97	$12.08	$11.72	$10.97	$9.06
Total Capital	238	235	298	899	836	832	1,000	1,008	991	866	1,082
Total Debt	0.00	0.00	8.96	353	353	320	118	79	41	8.80	296
Total Long-Term Debt	0.00	0.00	4.58	346	347	312	103	73	34	7.05	285
Net Debt	-117	-128	-147	188	197	150	-262	-307	-295	-253	-188
Capital Expenditures (CapEx)	6.59	-3.45	-6.20	-5.97	16	1.64	12	14	16	11	20
Debt-free, Cash-free Net Working Capital (DFCFNWC)	54	48	61	166	141	149	193	225	206	189	168
Debt-free Net Working Capital (DFNWC)	171	176	217	331	297	319	573	610	542	451	652
Net Working Capital (NWC)	171	176	212	325	291	311	558	604	535	449	641
Net Nonoperating Expense (NNE)	5.51	-1.39	2.49	12	33	16	7.98	-0.89	-1.56	20	25
Net Nonoperating Obligations (NNO)	-104	-116	-136	193	194	150	-262	-307	-295	-253	-188
Total Depreciation and Amortization (D&A)	11	10	11	50	68	55	51	48	51	54	52
Debt-free, Cash-free Net Working Capital to Revenue	20.12%	17.17%	17.28%	36.84%	24.21%	23.42%	21.73%	27.65%	32.38%	46.99%	37.09%
Debt-free Net Working Capital to Revenue	63.52%	62.56%	61.40%	73.36%	50.97%	50.15%	64.55%	75.09%	85.13%	112.22%	143.94%
Net Working Capital to Revenue	63.52%	62.56%	60.16%	71.86%	49.85%	48.83%	62.93%	74.31%	84.14%	111.78%	141.50%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.01	$0.11	$1.18	($1.01)	($1.69)	($0.33)	$3.53	$2.01	$0.59	($1.49)	($1.59)
Adjusted Weighted Average Basic Shares Outstanding	26.06M	26.66M	27.84M	31.78M	41.16M	41.85M	47.41M	48.18M	47.49M	46.91M	46.72M
Adjusted Diluted Earnings per Share	$0.01	$0.11	$1.14	($1.01)	($1.69)	($0.33)	$3.45	$1.98	$0.59	($1.49)	($1.59)
Adjusted Weighted Average Diluted Shares Outstanding	26.79M	27.48M	28.92M	31.78M	41.16M	41.85M	48.46M	48.80M	48.03M	46.91M	46.72M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	($1.01)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	26.25M	26.85M	28.54M	40.81M	41.45M	42.22M	48.56M	47.28M	47.08M	46.71M	46.89M
Normalized Net Operating Profit after Tax (NOPAT)	5.76	1.65	35	-7.75	-27	12	177	96	28	-50	-42
Normalized NOPAT Margin	2.14%	0.59%	10.02%	-1.72%	-4.66%	1.94%	19.95%	11.86%	4.41%	-12.48%	-9.21%
Pre Tax Income Margin	2.97%	2.13%	10.03%	-7.06%	-12.36%	-2.07%	21.68%	15.59%	7.20%	-16.16%	-13.78%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	643.48	-5.65	-2.54	0.01	20.55	28.33	10.15	-86.22	-33.30
NOPAT to Interest Expense	0.00	0.00	654.28	-4.19	-1.78	0.17	17.84	21.38	7.09	-58.40	-23.78
EBIT Less CapEx to Interest Expense	0.00	0.00	758.24	-4.45	-3.33	-0.11	19.35	25.12	5.93	-98.48	-43.26
NOPAT Less CapEx to Interest Expense	0.00	0.00	769.04	-2.99	-2.57	0.05	16.64	18.16	2.87	-70.66	-33.74
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	2,486.00%	208.98%	20.03%	-21.43%	-14.10%	-36.02%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	2,486.00%	220.70%	20.03%	-49.12%	-14.10%	-36.02%	4.38%	52.37%	83.96%	-38.65%	-11.56%

This table displays calculated financial ratios and metrics derived from Cohu's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025	3/28/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	46,888,325.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	46,888,325.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.26
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-27.04%	-28.19%	-40.00%	-38.02%	-36.78%	-31.41%	-10.05%	2.85%	32.42%	29.86%	29.26%
EBITDA Growth	-59.85%	-70.19%	-115.30%	-111.05%	-119.82%	-176.33%	-182.61%	32.16%	237.91%	38.50%	95.17%
EBIT Growth	-82.31%	-110.40%	-195.25%	-211.04%	-379.72%	-731.24%	-47.89%	3.48%	47.89%	26.23%	58.97%
NOPAT Growth	-85.97%	-98.96%	-183.36%	-217.16%	-428.95%	-6,575.15%	-52.04%	-5.75%	38.39%	28.37%	59.18%
Net Income Growth	-84.27%	-109.38%	-193.31%	-248.99%	-561.20%	-953.16%	-110.48%	-7.05%	77.29%	-5.29%	60.82%
EPS Growth	-84.31%	-109.09%	-193.94%	-254.55%	-587.50%	-1,025.00%	-112.90%	-5.88%	76.92%	-6.67%	60.61%
Operating Cash Flow Growth	-26.22%	-90.20%	-184.71%	-97.94%	-40.41%	-163.57%	27.08%	1,364.14%	-180.68%	2,420.09%	201.29%
Free Cash Flow Firm Growth	-109.04%	-257.51%	-28.04%	-911.07%	-602.58%	211.45%	-0.77%	75.33%	13.78%	-113.42%	780.76%
Invested Capital Growth	1.45%	5.28%	-0.57%	3.20%	4.30%	-7.86%	-1.56%	-0.67%	3.99%	-0.99%	-10.60%
Revenue Q/Q Growth	-10.73%	-9.00%	-21.58%	-2.71%	-8.94%	-1.28%	2.84%	11.24%	17.24%	-3.18%	2.36%
EBITDA Q/Q Growth	-32.64%	-41.85%	-144.96%	37.23%	-20.80%	-123.90%	-66.46%	84.93%	345.59%	-199.84%	86.93%
EBIT Q/Q Growth	-58.69%	-141.76%	-614.83%	9.95%	-4.05%	-24.10%	-27.18%	41.23%	43.82%	-75.67%	29.26%
NOPAT Q/Q Growth	-65.54%	-93.03%	-5,481.14%	9.31%	3.25%	-37.15%	-26.35%	36.92%	43.63%	-59.44%	28.00%
Net Income Q/Q Growth	-63.01%	-151.80%	-621.65%	-7.75%	-14.50%	-18.29%	-44.23%	45.20%	75.71%	-448.35%	46.34%
EPS Q/Q Growth	-63.64%	-150.00%	-675.00%	-9.68%	-14.71%	-15.38%	-46.67%	45.45%	75.00%	-433.33%	45.83%
Operating Cash Flow Q/Q Growth	-45.17%	-90.73%	-616.99%	107.85%	1,484.22%	-109.89%	-493.01%	257.60%	-187.30%	384.36%	-74.11%
Free Cash Flow Firm Q/Q Growth	-235.39%	-522.45%	72.97%	-256.03%	-17.28%	198.74%	-124.44%	12.83%	-309.85%	84.63%	1,339.83%
Invested Capital Q/Q Growth	-3.81%	9.18%	-0.04%	-1.69%	-2.79%	-3.55%	6.80%	-0.80%	1.77%	-8.17%	-3.57%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	47.01%	47.67%	45.76%	44.82%	46.84%	41.93%	43.72%	43.75%	43.77%	40.03%	46.28%
EBITDA Margin	12.41%	7.93%	-4.55%	-2.93%	-3.89%	-8.83%	-14.29%	-1.94%	4.05%	-4.18%	-0.53%
Operating Margin	4.91%	0.24%	-16.70%	-15.57%	-16.54%	-22.98%	-28.23%	-16.01%	-7.70%	-12.67%	-8.91%
EBIT Margin	4.11%	-1.89%	-17.20%	-15.92%	-18.20%	-22.87%	-28.29%	-14.94%	-7.16%	-12.99%	-8.98%
Profit (Net Income) Margin	2.60%	-1.48%	-13.60%	-15.06%	-18.94%	-22.69%	-31.82%	-15.68%	-3.25%	-18.40%	-9.65%
Tax Burden Percent	45.33%	408.05%	89.59%	108.88%	121.79%	110.65%	118.63%	113.82%	52.48%	163.02%	133.90%
Interest Burden Percent	139.25%	19.19%	88.23%	86.87%	85.46%	89.66%	94.83%	92.17%	86.45%	86.86%	80.23%
Effective Tax Rate	54.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	2.58%	0.17%	-10.05%	-8.60%	-8.40%	-10.27%	-11.89%	-6.88%	-3.59%	-6.69%	-4.92%
ROIC Less NNEP Spread (ROIC-NNEP)	2.40%	0.92%	-9.29%	-7.10%	-6.08%	-8.00%	-6.63%	-4.71%	-4.82%	-1.41%	-2.65%
Return on Net Nonoperating Assets (RNNOA)	-0.84%	-0.30%	2.71%	2.24%	2.01%	2.43%	1.69%	1.21%	1.23%	0.38%	0.62%
Return on Equity (ROE)	1.74%	-0.13%	-7.34%	-6.37%	-6.39%	-7.84%	-10.20%	-5.67%	-2.35%	-6.31%	-4.30%
Cash Return on Invested Capital (CROIC)	6.98%	-0.98%	0.37%	-6.08%	-9.88%	0.21%	-7.15%	-8.27%	-12.23%	-7.14%	5.04%
Operating Return on Assets (OROA)	2.40%	-1.01%	-8.59%	-7.15%	-7.36%	-8.55%	-10.79%	-5.75%	-2.96%	-5.25%	-3.91%
Return on Assets (ROA)	1.52%	-0.79%	-6.79%	-6.77%	-7.66%	-8.48%	-12.14%	-6.03%	-1.34%	-7.43%	-4.20%
Return on Common Equity (ROCE)	1.74%	-0.13%	-7.34%	-6.37%	-6.39%	-7.84%	-10.20%	-5.67%	-2.35%	-6.31%	-4.30%
Return on Equity Simple (ROE_SIMPLE)	5.48%	0.00%	-0.24%	-3.18%	-5.71%	0.00%	-10.39%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	3.36	0.23	-13	-11	-11	-15	-19	-12	-6.80	-11	-7.81
NOPAT Margin	2.23%	0.17%	-11.69%	-10.90%	-11.58%	-16.08%	-19.76%	-11.20%	-5.39%	-8.87%	-6.24%
Net Nonoperating Expense Percent (NNEP)	0.18%	-0.75%	-0.76%	-1.50%	-2.32%	-2.27%	-5.26%	-2.17%	1.23%	-5.28%	-2.27%
Return On Investment Capital (ROIC_SIMPLE)	-	0.02%	-	-	-	-1.75%	-2.26%	-1.42%	-0.80%	-1.00%	-0.73%
Cost of Revenue to Revenue	52.99%	52.33%	54.24%	55.18%	53.16%	58.07%	56.28%	56.25%	56.23%	59.97%	53.72%
SG&A Expenses to Revenue	21.50%	23.94%	32.60%	30.68%	31.78%	32.45%	31.00%	27.74%	25.16%	26.12%	27.65%
R&D to Revenue	14.24%	16.12%	20.76%	20.38%	21.32%	22.09%	23.92%	21.53%	17.79%	19.16%	21.09%
Operating Expenses to Revenue	42.10%	47.42%	62.47%	60.38%	63.38%	64.91%	71.95%	59.76%	51.47%	52.70%	55.19%
Earnings before Interest and Taxes (EBIT)	6.20	-2.59	-19	-17	-17	-22	-27	-16	-9.04	-16	-11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	19	11	-4.89	-3.07	-3.71	-8.31	-14	-2.08	5.12	-5.11	-0.67
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.73	1.77	1.73	1.74	1.38	1.46	0.85	1.09	1.15	1.40	1.83
Price to Tangible Book Value (P/TBV)	2.73	3.02	2.95	2.95	2.35	2.44	1.57	2.00	2.08	2.59	3.37
Price to Revenue (P/Rev)	2.38	2.64	2.80	3.11	2.74	3.11	1.80	2.29	2.26	2.42	2.92
Price to Earnings (P/E)	31.64	59.71	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.16%	1.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.16	2.12	2.02	2.03	1.53	1.65	0.81	1.11	1.20	1.52	2.10
Enterprise Value to Revenue (EV/Rev)	1.87	2.18	2.34	2.61	2.16	2.48	1.34	1.80	1.83	2.01	2.52
Enterprise Value to EBITDA (EV/EBITDA)	11.24	15.51	25.19	60.35	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	19.73	36.42	11,811.17	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	25.76	52.12	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	10.24	13.66	18.63	68.84	133.25	359.02	79.61	33.01	0.00	28.68	23.24
Enterprise Value to Free Cash Flow (EV/FCFF)	31.08	0.00	543.90	0.00	0.00	748.54	0.00	0.00	0.00	0.00	39.40
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.04	0.04	0.01	0.01	0.01	0.01	0.02	0.02	0.02	0.38	0.38
Long-Term Debt to Equity	0.04	0.04	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.36	0.37
Financial Leverage	-0.35	-0.32	-0.29	-0.31	-0.33	-0.30	-0.25	-0.26	-0.26	-0.27	-0.24
Leverage Ratio	1.29	1.27	1.22	1.20	1.20	1.19	1.18	1.19	1.20	1.37	1.38
Compound Leverage Factor	1.80	0.24	1.08	1.05	1.03	1.07	1.12	1.09	1.03	1.19	1.11
Debt to Total Capital	4.19%	4.10%	1.17%	1.10%	1.18%	1.02%	2.10%	2.16%	2.10%	27.37%	27.80%
Short-Term Debt to Total Capital	0.63%	0.64%	0.30%	0.26%	0.29%	0.20%	1.26%	1.31%	1.29%	1.02%	1.04%
Long-Term Debt to Total Capital	3.56%	3.46%	0.87%	0.84%	0.88%	0.81%	0.84%	0.85%	0.81%	26.35%	26.76%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	95.81%	95.90%	98.83%	98.90%	98.82%	98.98%	97.91%	97.84%	97.90%	72.63%	72.21%
Debt to EBITDA	0.36	0.45	0.21	0.46	-13.30	-0.44	-0.61	-0.66	-0.93	-18.61	-107.88
Net Debt to EBITDA	-3.01	-3.30	-4.96	-11.66	327.08	12.67	6.33	6.84	9.44	11.81	70.22
Long-Term Debt to EBITDA	0.31	0.38	0.15	0.35	-10.01	-0.35	-0.24	-0.26	-0.36	-17.92	-103.86
Debt to NOPAT	0.82	1.53	-8.14	-0.54	-0.30	-0.18	-0.31	-0.32	-0.34	-6.06	-7.89
Net Debt to NOPAT	-6.90	-11.10	195.88	13.59	7.44	5.05	3.23	3.33	3.39	3.85	5.14
Long-Term Debt to NOPAT	0.70	1.29	-6.03	-0.41	-0.23	-0.14	-0.12	-0.13	-0.13	-5.84	-7.60
Altman Z-Score	6.04	6.53	7.37	7.90	6.22	6.48	3.96	4.09	4.15	2.58	2.97
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.59	6.18	6.29	6.95	6.38	6.27	5.20	4.88	4.39	6.88	6.43
Quick Ratio	4.03	4.45	4.25	4.65	4.25	4.15	3.20	2.99	2.75	5.43	5.03
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-5.24	-33	-8.82	-31	-37	36	-8.89	-7.75	-32	-4.88	61
Operating Cash Flow to CapEx	727.02%	69.58%	-419.72%	55.95%	783.18%	-56.78%	-92.88%	611.31%	-357.65%	1,350.37%	509.54%
Free Cash Flow to Firm to Interest Expense	-6.78	-43.27	-16.64	-218.04	-428.20	367.28	-44.88	-61.49	-288.66	-3.01	37.32
Operating Cash Flow to Interest Expense	37.70	3.58	-26.35	7.61	201.90	-17.34	-51.42	127.36	-127.35	24.59	6.36
Operating Cash Flow Less CapEx to Interest Expense	32.51	-1.57	-32.62	-5.99	176.12	-47.89	-106.79	106.52	-162.96	22.77	5.11
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.58	0.54	0.50	0.45	0.40	0.37	0.38	0.38	0.41	0.40	0.44
Accounts Receivable Turnover	4.33	4.23	3.86	4.05	4.00	3.72	3.73	4.06	3.94	4.52	4.93
Inventory Turnover	2.17	2.05	1.82	1.68	1.54	1.49	1.50	1.55	1.73	1.91	2.01
Fixed Asset Turnover	10.75	9.49	7.86	7.07	6.21	5.59	5.13	5.18	5.53	5.97	6.30
Accounts Payable Turnover	6.75	7.81	7.05	7.96	7.91	6.90	7.17	7.06	6.44	7.28	6.86
Days Sales Outstanding (DSO)	84.26	86.26	94.47	90.15	91.22	98.22	97.85	89.80	92.71	80.73	73.97
Days Inventory Outstanding (DIO)	168.45	178.38	200.29	217.90	237.68	245.26	244.02	235.09	211.07	190.61	181.22
Days Payable Outstanding (DPO)	54.07	46.72	51.74	45.86	46.17	52.86	50.93	51.67	56.71	50.15	53.22
Cash Conversion Cycle (CCC)	198.64	217.93	243.02	262.19	282.73	290.62	290.94	273.23	247.08	221.20	201.98
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	600	655	655	644	626	604	645	639	651	598	576
Invested Capital Turnover	1.16	1.00	0.86	0.79	0.73	0.64	0.60	0.61	0.67	0.75	0.79
Increase / (Decrease) in Invested Capital	8.60	33	-3.76	20	26	-52	-10	-4.32	25	-5.96	-68
Enterprise Value (EV)	1,293	1,386	1,323	1,306	959	997	522	710	779	909	1,213
Market Capitalization	1,639	1,681	1,583	1,559	1,218	1,251	705	901	960	1,097	1,406
Book Value per Share	$19.88	$20.00	$19.42	$19.03	$18.85	$18.38	$17.72	$17.86	$17.80	$16.82	$16.40
Tangible Book Value per Share	$12.62	$11.72	$11.37	$11.21	$11.06	$10.97	$9.64	$9.70	$9.90	$9.06	$8.90
Total Capital	988	991	926	906	895	866	845	849	849	1,082	1,065
Total Debt	41	41	11	9.97	11	8.80	18	18	18	296	296
Total Long-Term Debt	35	34	8.02	7.59	7.91	7.05	7.06	7.25	6.88	285	285
Net Debt	-346	-295	-260	-252	-259	-253	-183	-191	-180	-188	-193
Capital Expenditures (CapEx)	4.01	3.88	3.33	1.96	2.22	3.02	11	2.63	3.92	2.95	2.02
Debt-free, Cash-free Net Working Capital (DFCFNWC)	209	206	213	208	191	189	197	192	209	168	159
Debt-free Net Working Capital (DFNWC)	596	542	485	470	460	451	397	402	408	652	648
Net Working Capital (NWC)	590	535	482	468	457	449	387	390	397	641	637
Net Nonoperating Expense (NNE)	-0.56	2.26	2.05	4.36	7.02	6.22	12	4.81	-2.70	12	4.26
Net Nonoperating Obligations (NNO)	-346	-295	-260	-252	-259	-253	-183	-191	-180	-188	-193
Total Depreciation and Amortization (D&A)	13	13	14	14	14	13	14	14	14	11	11
Debt-free, Cash-free Net Working Capital to Revenue	30.24%	32.38%	37.78%	41.48%	42.90%	46.99%	50.28%	48.77%	49.29%	37.09%	33.08%
Debt-free Net Working Capital to Revenue	86.39%	85.13%	85.84%	93.92%	103.42%	112.22%	101.64%	101.93%	95.93%	143.94%	134.63%
Net Working Capital to Revenue	85.50%	84.14%	85.34%	93.45%	102.83%	111.78%	98.92%	99.11%	93.35%	141.50%	132.33%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.08	($0.04)	($0.31)	($0.34)	($0.39)	($0.45)	($0.66)	($0.36)	($0.09)	($0.48)	($0.26)
Adjusted Weighted Average Basic Shares Outstanding	47.62M	47.49M	47.13M	46.97M	46.82M	46.91M	46.65M	46.66M	46.75M	46.72M	47.00M
Adjusted Diluted Earnings per Share	$0.08	($0.04)	($0.31)	($0.34)	($0.39)	($0.45)	($0.66)	($0.36)	($0.09)	($0.48)	($0.26)
Adjusted Weighted Average Diluted Shares Outstanding	48.11M	48.03M	47.13M	46.97M	46.82M	46.91M	46.65M	46.66M	46.75M	46.72M	47.00M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	47.51M	47.08M	47.09M	46.92M	46.61M	46.71M	46.50M	46.68M	46.69M	46.89M	47.18M
Normalized Net Operating Profit after Tax (NOPAT)	5.70	0.50	-13	-11	-11	-15	-14	-11	-6.44	-9.59	-7.27
Normalized NOPAT Margin	3.78%	0.36%	-11.69%	-10.89%	-11.57%	-16.08%	-14.97%	-10.42%	-5.10%	-7.84%	-5.81%
Pre Tax Income Margin	5.73%	-0.36%	-15.18%	-13.83%	-15.55%	-20.51%	-26.83%	-13.77%	-6.19%	-11.29%	-7.20%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.02	-3.44	-34.93	-115.78	-201.72	-217.46	-138.29	-127.71	-82.18	-9.80	-6.93
NOPAT to Interest Expense	4.34	0.31	-23.74	-79.23	-128.35	-152.92	-96.61	-95.76	-61.83	-6.69	-4.82
EBIT Less CapEx to Interest Expense	2.84	-8.58	-41.21	-129.38	-227.50	-248.01	-193.65	-148.54	-117.79	-11.62	-8.18
NOPAT Less CapEx to Interest Expense	-0.84	-4.84	-30.02	-92.84	-154.13	-183.46	-151.97	-116.59	-97.44	-8.51	-6.07
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	45.35%	83.96%	-1,425.97%	-127.46%	-78.71%	-38.65%	-28.77%	-19.16%	-11.78%	-11.56%	-0.25%

Financials Breakdown Chart

Key Financial Trends

Cohu’s latest quarter shows a business that is still under pressure on profitability, but with a much stronger liquidity position than in prior years. In Q1 2026, revenue grew slightly year over year to $125.1 million from $122.2 million in Q4 2025, but the company still posted a net loss of $12.1 million. The bigger story is on the balance sheet: Cohu ended the quarter with $210.9 million in cash and $277.8 million in short-term investments, giving it substantial near-term financial flexibility.

Profitability remains weak. Gross profit in Q1 2026 was $57.9 million, which translates to a gross margin of about 46.3%. That is better than the prior quarter’s roughly 40.1%, but operating expenses were still too high at $69.1 million, leading to an operating loss of $11.2 million. R&D and SG&A remain elevated, so Cohu is still spending heavily to support its product roadmap and operations.

Cash generation was positive, but not strong enough to offset investing outflows. The company generated $10.3 million in operating cash flow in Q1 2026, down sharply from $39.8 million in Q4 2025. After $2.0 million of capex and $68.6 million of investment purchases, free cash flow and total cash movement were pressured, resulting in a $16.1 million decline in cash and equivalents during the quarter.

Looking at the last several years, the trend is mixed but important for investors. Cohu was profitable in much of 2022 and parts of 2023, but performance weakened through 2024 and 2025. Revenue peaked around the low-$200 million range in 2022, then trended lower into 2024 and 2025, while earnings swung from solid profits to recurring quarterly losses. That suggests the company has been working through a more difficult demand cycle.

Strong liquidity: Cash and short-term investments totaled nearly $489 million at the end of Q1 2026, which provides a sizable cushion.
Current assets exceed liabilities: Current assets of $754.2 million versus current liabilities of $117.3 million point to a very healthy short-term liquidity position.
Gross margin improved sequentially: Q1 2026 gross margin of about 46.3% was better than Q4 2025’s roughly 40.1%.
Operating cash flow remained positive: Despite the net loss, Cohu generated $10.3 million in operating cash flow in Q1 2026.
Debt is manageable: Total debt was about $296.0 million, and the company’s large cash/investment balance helps offset leverage concerns.
Revenue was only modestly higher year over year: Q1 2026 revenue of $125.1 million was up slightly from $122.2 million a year earlier.
Investment activity remains large: The company continues to move substantial cash into and out of marketable securities, which can make short-term cash trends volatile.
Still reporting losses: Q1 2026 net loss was $12.1 million, following a $22.5 million loss in Q4 2025.
Operating expenses remain heavy: SG&A plus R&D and amortization kept operating losses in place despite decent gross profit.
Cash fell quarter over quarter: Cash and equivalents declined from $211.0 million to $210.9 million, while investments also saw heavy turnover.

Bottom line: Cohu has a strong balance sheet and enough liquidity to navigate the current downturn, but the business is still struggling to turn revenue into sustained profits. Investors will likely want to see a clearer rebound in operating income and better cash conversion before calling the turnaround complete.

06/18/26 03:45 PM ETAI Generated. May Contain Errors.

Cohu Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Cohu's fiscal year ends in December. Their fiscal year 2025 ended on December 27, 2025.

Cohu's net income appears to be on a downward trend, with a most recent value of -$74.27 million in 2025, falling from $250 thousand in 2015. The previous period was -$69.82 million in 2024. Check out Cohu's forecast to explore projected trends and price targets.

Cohu's total operating income in 2025 was -$69.77 million, based on the following breakdown:

Total Gross Profit: $193.62 million
Total Operating Expenses: $263.39 million

Over the last 10 years, Cohu's total revenue changed from $269.65 million in 2015 to $452.96 million in 2025, a change of 68.0%.

Cohu's total liabilities were at $457.44 million at the end of 2025, a 221.0% increase from 2024, and a 326.7% increase since 2015.

In the past 10 years, Cohu's cash and equivalents has ranged from $96.05 million in 2016 to $290.20 million in 2021, and is currently $227.05 million as of their latest financial filing in 2025.

Over the last 10 years, Cohu's book value per share changed from 9.11 in 2015 to 16.82 in 2025, a change of 84.6%.

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Financial statements for NASDAQ:COHU last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Cohu (COHU) Financials

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Cohu (COHU) Financials

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