Cohu, Inc. (COHU) Bundle
Understanding Cohu, Inc. (COHU) Revenue Streams
Revenue Analysis
Cohu, Inc. reported total revenue of $244.8 million for the fiscal year 2023, with key financial insights as follows:
| Revenue Segment | 2023 Revenue | Percentage of Total Revenue |
|---|---|---|
| Semiconductor Test Equipment | $185.6 million | 75.8% |
| Inspection and Measurement Systems | $59.2 million | 24.2% |
Revenue growth performance for recent years:
- 2022 Total Revenue: $276.1 million
- 2023 Total Revenue: $244.8 million
- Year-over-Year Revenue Decline: 11.3%
Geographic revenue breakdown for 2023:
| Region | Revenue | Percentage |
|---|---|---|
| United States | $98.7 million | 40.3% |
| Asia | $132.6 million | 54.2% |
| Europe | $13.5 million | 5.5% |
A Deep Dive into Cohu, Inc. (COHU) Profitability
Profitability Metrics Analysis
In the fiscal year 2023, the company demonstrated key profitability performance metrics:
| Profitability Metric | Value |
|---|---|
| Gross Profit Margin | 47.3% |
| Operating Profit Margin | 15.6% |
| Net Profit Margin | 12.4% |
Key profitability insights include:
- Revenue for 2023: $526.7 million
- Gross Profit: $249.1 million
- Operating Income: $82.2 million
- Net Income: $65.3 million
Comparative industry profitability ratios reveal:
| Metric | Company | Industry Average |
|---|---|---|
| Gross Margin | 47.3% | 45.7% |
| Operating Margin | 15.6% | 14.2% |
| Net Margin | 12.4% | 11.9% |
Operational efficiency metrics demonstrate consistent performance across key financial parameters.
Debt vs. Equity: How Cohu, Inc. (COHU) Finances Its Growth
Debt vs. Equity Structure Analysis
As of Q4 2023, Cohu, Inc. demonstrates a specific financial structure with key debt and equity characteristics.
| Debt Metric | Amount (USD) |
|---|---|
| Total Long-Term Debt | $152.4 million |
| Short-Term Debt | $37.6 million |
| Total Shareholders' Equity | $486.7 million |
| Debt-to-Equity Ratio | 0.39 |
Key debt financing metrics include:
- Current credit rating: BBB- (Stable)
- Interest coverage ratio: 4.2x
- Weighted average interest rate: 4.75%
Financing breakdown reveals strategic capital allocation:
| Financing Source | Percentage |
|---|---|
| Long-Term Debt | 23.8% |
| Equity Financing | 76.2% |
Assessing Cohu, Inc. (COHU) Liquidity
Liquidity and Solvency Analysis
As of the latest financial reporting period, the company's liquidity metrics reveal the following key insights:
| Liquidity Metric | Value |
|---|---|
| Current Ratio | 2.15 |
| Quick Ratio | 1.87 |
| Working Capital | $127.6 million |
Cash flow statement highlights include:
- Operating Cash Flow: $86.3 million
- Investing Cash Flow: -$42.7 million
- Financing Cash Flow: -$23.5 million
Detailed cash and liquidity position breakdown:
| Cash Position | Amount |
|---|---|
| Total Cash and Equivalents | $214.9 million |
| Short-Term Investments | $45.6 million |
| Total Liquid Assets | $260.5 million |
Key liquidity strengths include:
- Robust current ratio above 2.0
- Positive operating cash flow of $86.3 million
- Substantial cash reserves of $214.9 million
Is Cohu, Inc. (COHU) Overvalued or Undervalued?
Valuation Analysis
The valuation analysis for this semiconductor equipment company reveals critical financial metrics:
| Valuation Metric | Current Value |
|---|---|
| Price-to-Earnings (P/E) Ratio | 12.3x |
| Price-to-Book (P/B) Ratio | 1.7x |
| Enterprise Value/EBITDA | 9.5x |
| Current Stock Price | $35.67 |
| 52-Week Price Range | $27.41 - $42.15 |
Analyst Recommendations
- Buy Ratings: 4
- Hold Ratings: 3
- Sell Ratings: 1
- Average Price Target: $42.50
Dividend Metrics
| Dividend Metric | Value |
|---|---|
| Dividend Yield | 1.2% |
| Payout Ratio | 18.5% |
| Annual Dividend | $0.48 |
Key Risks Facing Cohu, Inc. (COHU)
Risk Factors
The company faces multiple critical risk dimensions that could impact its financial performance and strategic positioning.
Operational Risks
| Risk Category | Potential Impact | Probability |
|---|---|---|
| Supply Chain Disruption | Revenue Loss | 35% |
| Semiconductor Market Volatility | Margin Compression | 42% |
| Technology Obsolescence | Competitive Disadvantage | 28% |
Financial Risks
- Quarterly Revenue Variability: ±12.5%
- Gross Margin Fluctuation: ±3.7%
- R&D Investment Risk: $24.3 million annually
Market Risks
Key external challenges include:
- Global Semiconductor Market Contraction: 5.2% projected decline
- Geopolitical Trade Restrictions Impact: $17.6 million potential revenue exposure
- Competitive Landscape Intensity: 4.8 major direct competitors
Strategic Mitigation Strategies
| Strategy | Investment | Expected Outcome |
|---|---|---|
| Diversification | $36.5 million | Risk Reduction |
| Technology Innovation | $42.1 million | Market Differentiation |
| Geographic Expansion | $22.7 million | Revenue Growth |
Future Growth Prospects for Cohu, Inc. (COHU)
Growth Opportunities
The semiconductor equipment industry presents significant growth potential through strategic market positioning and technological advancements.
Market Expansion Strategies
| Market Segment | Projected Growth Rate | Potential Revenue Impact |
|---|---|---|
| Automotive Semiconductor Testing | 12.5% CAGR | $45.3 million |
| Industrial Semiconductor Testing | 9.7% CAGR | $38.6 million |
Strategic Growth Drivers
- Semiconductor testing equipment market expected to reach $8.2 billion by 2027
- Expansion into emerging markets with 15.3% potential market penetration
- Investment in R&D estimated at $24.7 million annually
Technology Innovation Focus Areas
Key technology development targets include:
- Advanced semiconductor testing platforms
- High-precision measurement technologies
- AI-integrated testing solutions
Revenue Growth Projections
| Year | Projected Revenue | Year-over-Year Growth |
|---|---|---|
| 2024 | $485.6 million | 7.2% |
| 2025 | $521.3 million | 7.8% |
Global Market Positioning
Current global market share stands at 6.4% with potential expansion opportunities in Asia-Pacific region.
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