COHU COHU INC

Overview and Growth

In fiscal 2025, COHU INC recorded $452.96M of revenue, net loss of $74.27M, and an operating cash inflow of $31.69M. Revenue of $452.96M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $401.78M in fiscal 2024, revenue recorded a 12.7% year-over-year increase. Diluted earnings per share were -$1.59, translating the period’s attributable earnings into the amount reported for each diluted share. The company employed $1.24B of total assets, the balance-sheet base supporting its current operating and cash-flow results. Revenue equaled 0.36x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Gross profit was $193.62M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross profit represented 42.7% of revenue, showing how much of the top line remained after direct costs. The reported operating result was an operating loss of $69.77M, reflecting costs that exceeded gross profit. Relative to revenue, the operating deficit measured 15.4%, showing the shortfall after operating costs. The company ended the period with a net loss of $74.27M, extending the operating result through all remaining items. Net margin was -16.4%, reflecting a loss equal to 16.4% of reported revenue. The company reported a pretax loss of $62.41M, before the effect of income taxes. Measured against revenue, the pretax deficit represented 13.8%. Income tax expense totaled $11.87M, providing the reported tax component that separates pretax and after-tax earnings. Relative to period-end equity, the net loss represented 9.5%. The net loss equaled 6.0% of period-end assets, showing the deficit relative to the asset base.

Liquidity and Capital Structure

Total assets were $1.24B, supported by $457.44M of liabilities and $785.54M of shareholder equity. Current assets were $749.99M against $109.08M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 6.88x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $227.05M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 208.2% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The company carried $296.08M of total debt at period end, which frames its leverage and debt-service burden. Against book equity, debt measured 0.38x, placing the company’s financial leverage in clear balance-sheet terms. Relative to total assets, debt measured 23.8%, showing how much of the asset base was matched by borrowing. Liabilities represented 36.8% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 18.3%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 24.4% from $999.41M in fiscal 2024, leaving current total assets higher year over year. Against $856.89M of equity in fiscal 2024, the current book-equity balance moved 8.3% and ended lower.

Cash Flow and Earnings Quality

The company reported $31.69M of operating cash flow, a cash inflow that shows the cash generated by operations. Capital expenditures used $20.96M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 66.1%, connecting investment intensity with the company’s cash-generation base. Free cash flow came to $10.73M, leaving a positive amount after capital expenditures. The free-cash-flow margin was 2.4%, measuring cash remaining after capital spending against revenue. Measured against total assets, free cash flow represented 0.9%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 27, 2025. Analysis generated Oct 21, 2026.