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Fundamental analysis: Cohu, Inc. (COHU)

Awarener score: 5.3

Conclusion

The higher the Awarener score, the more bang you get for the buck. It measures how much genuine funds the company generates for the stock price paid (Average), the business stability (Lacking) and growth (Very good), and the company's inclination to return cash to the stockholders (Poor).

Note: All scores range from 1 (worst) to 10 (best). Conclusions are updated daily with closing stock prices and new reported quarterly financial statements.

Revenue score: 6.0

  • Business has been growing at a very good pace. It's been encouraging in relation to peer companies.
  • Cohu, Inc. business shows some variation, there's some risk. It looks better than most rivals.

Margins score: 6.0

  • COHU profit margins -on goods and services sold- are usually good. They stand somewhat worse than rival companies.
  • Business profit on sales tends to be good. It's below average when measured against competitors.
  • Profits on sales made -available to repay debt and purchase properties- are usually sufficient. They remain lacking compared to peers.
  • Earnings -before income taxes and interests on loans taken- tend to be hardly sufficient in relation to total revenues. They're still mediocre against similar companies.
  • Profits -before income taxes- are usually sufficient considering total sales, and remain weak when measured against rivals.
  • Total net profit tends to be hardly sufficient when confronted to sales. Company stands weak when measured against comparable firms.

Growth score: 2.0

  • Cohu, Inc. profit -on goods and services sold- has been growing at a very good pace. It's been a slight improvement compared to competitors.
  • In recent years, the firm hasn't always been able to profit from operations, which has been bottom tier against comparable firms.
  • In past years, the company couldn't always turn a profit -available to repay debt and purchase properties-, which compares last-in-rank when measured against peer enterprises.
  • In the previous years, the firm couldn't always make a profit -before income taxes and interests on loans taken-. It turns to be a disappointment compared to similar stocks.
  • In past years, at least once the company lost money -before income taxes-. It was bottom tier against rivals.
  • In the previous years, the firm had at least a total net loss, and last-in-rank when measured against peer companies.
  • The company lost money at least once in the past years. It's been a disappointment compared to industry peers.

Miscellaneous score: 7.0

  • COHU had hardly to pay income taxes in relation to profits made in the past years. It's been slightly better than peers.
  • Research and development expenses consume a low portion of revenues. It's almost average when measured against competitors.
  • The company shows business growth in relation to research and development efforts. It stands rather normal in relation to rival companies.

Profitability score: 5.8

  • Cohu, Inc. usually gets good returns on the resources it controls. It proves weak when measured against peer firms.
  • The company normally gets hardly sufficient proceeds -on the resources directly invested in the business-. They remain in a weak position compared to similar companies.
  • Profitability -in relation to owned resources- is usually modest. It ranks weak when measured against competitors.
  • In the past, got sufficient returns -on the tangible resources it controls-. This metric is usually related to the industry in which operates and combines profitability versus reinvestment needs. It's weak when measured against comparable enterprises.

Usage of Funds score: 1.9

  • COHU usually uses almost all genuine funds generated to buy or replace property, plant, or equipment. The need for reinvestments is huge. It stands weak when measured against rival firms.
  • The company is usually sparsely replacing property, plant, and equipment that gets old, instead using funds in something else. It can't keep forever, which is substantially worse when measured against industry peers.
  • In the past twelve months the stock paid no dividends. It came bottom tier against competitors.
  • In recent years, has greatly cut back dividend payments. It could be enduring difficult times. The company has behaved a disappointment compared to similar firms.
  • As no dividends are paid, it is useless trying to estimate their sustainability in time. Sustainability looks not applicable in regard to comparable companies.
  • The company has significantly enlarged the pool of investors in previous years, resulting in more mouths feeding on the pie of profits. It remains in a very weak position compared to peer enterprises.
  • Repurchase effectiveness metric is very complex. Run again in analytical mode if you're interested in a technical explanation. It stands rather normal in relation to rivals.
  • We do not have sufficient data to comment on buybacks and their sustainability. It still looks dubious against competitors.

Balance Sheet score: 5.6

  • Cohu, Inc. intangible assets (like brands and goodwill) represent some portion of resources controlled, according to accounting books. There could be some difficulties in liquidating them if the company ever gets in financial distress. It happens to be weak when measured against peer companies.
  • The company has more than enough short-term resources to face short-term obligations. Liquidity concerns are non-significant. It turns to be a slight improvement compared to similar firms.
  • A very minor portion of resources controlled were provided for with financial debt. Financial strength is solid. Company could increase debt if it wished so, to reinvest in business, to buy a smaller company or to reward stockholders. It remains slightly better than rival firms.
  • Most controlled resources can be made into cash reasonably quick, which is good for liquidity and risk. It looks below average when measured against rivals.
  • For every dollar of short-term obligations, the company has abundant dollars in cash and short-term receivables. It's in good shape compared to peer firms.
  • For every dollar of short-term obligations, the company has more than enough dollars in cash and equivalents, which is somewhat better than similar enterprises.
  • Usually, sales are on somewhat more than three months credit. It still ranks below average when measured against peers.
  • Normally has approximately five months of sales worth in inventory. It comes up as close to average when compared to competitors.
  • On average, it takes a lot of months from the purchase to charging customers. It happens to be slightly better than peers.
  • On average pays suppliers longer than two months after the purchase. It ranks more than average in relation to industry peers.
  • The company pays its suppliers six months or more before charging its customers, so there's abundant money invested in working capital. It's rather normal in relation to similar companies.
  • Net interest expenses consume a minor portion of usual business earnings, and are easily bearable. It stands mediocre against rival firms.
  • Business earnings have usually been very good when measured against loans taken. Cutting back reinvesting in the business, it could take less than two years to repay the obligations with current profitability. It ranks almost average when measured against comparable enterprises.
  • Revenues are very good in relation to property, plant, and equipment required to operate. This metric is likely dependent on the industry the company operates in. Low property, plant, and equipment requirements allows the company to keep more money to reward stockholders in the long run. It looks in good shape compared to similar firms.
  • Resource exploitation is quite good when yearly sales are considered. This metric is normally tied to the industry where the firm belongs. It's still slightly better than peer companies.

Valuation score: 6.0

  • Cohu, Inc. looks very cheap in relation to profits and financial position. It happens to be great when measured against competitors.
  • Price-to-Tangible-Book-Value is a fairly complex metric. Run again in analytical mode if you're interested in a technical explanation. It remains a slight improvement compared to peers.
  • In the past twelve months, the company consumed funds. Either it reinvested significantly in the business or genuine fund generation might be struggling, which stands well ranked against similar companies.
  • In the past years the company hardly generated enough genuine funds to cover up for its business needs. Business prospects should improve enough to be in a better position to reward investors. It's still more than average in relation to industry firms.
  • In the past twelve months, the company has significantly enlarged the pool of investors by issuing new shares. Future profits need to be high enough to justify the measure, as the pie of earnings will now be split among numerous more stockholders. It came up a disappointment compared to peer ventures.
  • This company is a cash hoarder. It might be well poised to substantially increase stockholder payments, or to fund new business projects. It looks somewhat better than similar enterprises.
  • Considering the past twelve months, traditional Price-to-Earnings relation might be more or less reasonable, but hardly cheap. It ranks great when measured against peer companies.
  • Comparing the current stock price with the past twelve-months revenues gives a roughly two to one relationship. This is an important metric to check its evolution through time, and to compare to industry peers. It looks in good shape compared to rival firms.
  • The relation between the stock price and accounting book value is somewhat high. It's important both to check this metric through time and to compare it with rival companies. The company remains somewhat better than peer firms.
  • In the past twelve months, the operating business earned great money when compared to the current stock price and financial position. It happens to be great when measured against industry peers.
  • In an alternate metric of bang for the buck, the company has usually shown a good earnings power ability when measured against the current stock price and financial position. It's still close to average when compared to peer companies.

Total score: 5.0


COHU logos

Company at a glance: Cohu, Inc. (COHU)

Sector, industry: Technology, Semiconductor Equipment & Materials

Market Cap: 1.40 billions

Revenues TTM: 0.83 billions

Cohu, Inc., through its subsidiaries, provides semiconductor test equipment and services in China, the United States, Taiwan, Malaysia, the Philippines, and internationally. The company supplies semiconductor test and inspection handlers, micro-electromechanical system (MEMS) test modules, test contactors, thermal sub-systems, and semiconductor automated test equipment for semiconductor and electronics manufacturers, and test subcontractors. It also provides semiconductor automated test equipment for wafer level and device package testing; various test handlers, including pick-and-place, turret, gravity, strip, and MEMS and thermal sub-systems; interface products comprising test contactors, and probe heads and pins; spares and kits; various parts and labor warranties on test and handling systems, and instruments; and training on the maintenance and operation of its systems, as well as application, data management software, and consulting services on its products. In addition, the company offers data analytics product that includes DI-Core, a software suite used to optimize Cohu equipment performance, which provides real-time online performance monitoring and process control. It markets its products through direct sales force and independent sales representatives. The company was formerly known as Cohu Electronics, Inc. and changed its name to Cohu, Inc. in 1972. Cohu, Inc. was incorporated in 1947 and is headquartered in Poway, California.

Awarener score: 5.3

Conclusion

The higher the Awarener score, the more bang you get for the buck. It measures how much genuine funds the company generates for the stock price paid (Average), the business stability (Lacking) and growth (Very good), and the company's inclination to return cash to the stockholders (Poor).