Cohu Inc. (COHU) intrinsic value & 10-year financials
Cohu Inc. (COHU) has a Graham intrinsic value of $9.82 per share. At $50.81 on Oct 17, 2026, the stock trades 417% above that value. Over the last 10 fiscal years revenue grew 5.4% a year to $453.0M, with an average return on invested capital of 3.1%.
- Graham intrinsic value
- $9.82
- Share price (Oct 17, 2026)
- $50.81
- Price vs Graham value
- 417% above
- Market cap
- $2.4B
- Revenue (FY2025)
- $453.0M
- Revenue growth (10-yr CAGR)
- 5.4%
- ROIC (10-yr avg)
- 3.1%
- Free cash flow (FY2025)
- $10.7M
COHU 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $453.0M | -$74.3M | -$1.59 | $10.7M | -15.4% | -9.0% |
| FY2024 | $401.8M | -$69.8M | -$1.49 | -$7.9M | -17.8% | -10.0% |
| FY2023 | $636.3M | $28.2M | $0.59 | $85.4M | 6.8% | 3.5% |
| FY2022 | $812.8M | $96.8M | $1.98 | $98.1M | 15.4% | 13.0% |
| FY2021 | $887.2M | $167.3M | $3.45 | $85.7M | 22.7% | 25.2% |
| FY2020 | $636.0M | -$13.8M | -$0.33 | $31.1M | 0.5% | 0.5% |
| FY2019 | $583.3M | -$69.7M | -$1.69 | -$731.0K | -9.0% | -7.0% |
| FY2018 | $451.8M | -$32.2M | -$1.01 | $29.5M | -6.6% | -6.7% |
| FY2017 | $352.7M | $32.8M | $1.14 | $33.7M | 9.9% | 19.9% |
| FY2016 | $282.1M | $3.0M | $0.11 | $21.1M | 2.0% | 1.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
COHU INC has demonstrated mature, steady growth, with revenue compounding at 5.4% annually over the past decade.
COHU INC has historically struggled to out-earn its cost of capital, averaging just 3.3% ROIC.
COHU INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, COHU INC is modeled at 5.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $9.82 per share.