Cohu Inc (COHU) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of Cohu Inc stock $2.15, price $50.79, that is 95.8% below the price, quality 50 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
60‑month range $13.33 – $73.91 · fair‑value band $1.00 – $3.63 · the $50.79 price screens above the $2.15 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 7 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 1, 2026.
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Cohu, Inc., through its subsidiaries, provides semiconductor test equipment and services in the United States, Taiwan, China, Malaysia, the Philippines, Singapore, and internationally.
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It supplies test and inspection metrology automation systems, micro-electromechanical system test modules, test contactors, thermal subsystems, and data analytics software for semiconductor manufacturers and test subcontractors.
The company also provides semiconductor automated test equipment for wafer level and device package testing; various test handlers, including pick-and-place, turret, gravity, strip, film frame, laser marker, 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, it 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.
Further, the company provides artificial intelligence process control and analytics-based monitoring software. 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 San Diego, California.
Stock analysis
Cohu Inc (COHU) currently trades at $50.79, while our model-based Fair Value estimate is $2.15, 95.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of $6.18 per share, and 0 of the 7 models we run sit above the $50.79 price.
Bear case: the DCF Models group reads lowest at $2.15, and 7 of the 7 models stay below the price. Data coverage for this calculation is low.
Scenario range: $1.00 (bear) to $3.63 (bull), the price of $50.79 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 50/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Cohu Inc reported revenue of $453M in FY2025 versus $887M in FY2021, a compound −15.5%/yr. Reported net income was −$74.3M in FY2025.
Key figures
Market cap $2.4B Mid · P/S ratio 4.84 · EPS (TTM) $−0.8300 · Net margin −7.4% · Return on equity −4.8% · Return on assets (EBIT) 3.6% · Operating margin 0.6% · Revenue (TTM) $523M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 15 out of 100 (low confidence).
What moves the price
The share trades about 31% below its 52-week high and 138% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −14% fair-value upside, at −96%, COHU screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely ($0.1500 to $6.18). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear$1.00Fair Value $2.15Bull$3.63
Price $50.79 · Downside -95.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.24/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+12.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−17.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−6.6%
Start year 2020 (pandemic). Over 10 years: +5.3% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.0%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
0.5% (2020) → −13.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+61.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+29.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +57.7% a year for the price and +26.4% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (95 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Limited signals point to weak durable advantage for the test equipment business, mainly undermined by sustained net losses and negative return on equity in a cyclical industry.
Main risk: A slowdown in AI capital spending by customers would cut demand for the company's semiconductor test solutions.
Cohu has fallen with the broader semiconductor equipment group on concerns that AI capital spending may slow after recent customer updates. The company itself reported no specific setbacks, yet it will soon host an Investor Day featuring a keynote from major customer AMD. Our models see the stock as overvalued. Will the event show that test demand for advanced chips remains robust enough to offset any near-term hesitation, or will it underscore exposure to shifting fab spending patterns?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Semiconductor Equipment & Materials · 235 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Cohu Inc Fair Value". https://www.fairvalue-calculator.com/stock/COHU
Frequently asked questions
Is Cohu Inc (COHU) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of $2.15 versus a price of $50.79, about 96% lower (overvalued).
What is the fair value of COHU?
Our model-based fair value for Cohu Inc is $2.15 (as of Nov 1, 2026), built from audited fundamentals. The current price: $50.79.
What is the quality score of COHU?
Cohu Inc has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Cohu Inc (COHU)?
Our model-based price target is the fair value of $2.15 (as of Nov 1, 2026) from 7 valuation models. Cautious scenario $1.00, optimistic scenario $3.63. It is a calculation from audited fundamentals, not an analyst target.
What is the Cohu Inc stock forecast for 2026?
Our models put fair value at $2.15, about 96% lower versus a price of $50.79 (overvalued). Cautious scenario $1.00, optimistic scenario $3.63. The calculation is refreshed regularly with new filings.
What is the revenue of Cohu Inc (COHU)?
Cohu Inc reported trailing-twelve-month revenue of about $523M (latest available figure, as of Nov 1, 2026).
What growth is priced into Cohu Inc (COHU)?
For today's price to be fair in a discounted-cash-flow model, Cohu Inc would have to grow free cash flow by +61.5 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.6 % per year. As of Nov 1, 2026.
What discount rate (WACC) does the fair value of COHU use?
Our models discount Cohu Inc at 11.0 %: a base by market capitalisation (mid), damped by beta 1.51, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cohu Inc that is +61.5 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Cohu Inc (COHU) delivered so far?
Over the past 5 years revenue at Cohu Inc grew -6.6 % a year. The price currently implies +61.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cohu Inc (COHU) growing?
The median revenue growth in the sector is +11.0 % a year. That is the yardstick for the growth priced into Cohu Inc (+61.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cohu Inc (COHU)?
The free-cash-flow yield on the price is 0.45 %: that much free cash flow Cohu Inc produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cohu Inc (COHU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cohu Inc it is $2.15 per share (as of Nov 1, 2026), against a price of $50.79. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Cohu Inc stock overvalued or undervalued in 2026?
As of Nov 1, 2026, COHU trades above its calculated fair value: price $50.79, fair value $2.15, a gap of about −96% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of COHU?
No. The price is what the market pays today ($50.79); the fair value is what the company's own numbers justify ($2.15). For Cohu Inc the two are $48.64 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cohu Inc worth?
The market values Cohu Inc at about $2.4B (market capitalisation, as of Nov 1, 2026). Per share that is $50.79; our models calculate a fair value of $2.15 per share.
What do the bullish and bearish scenarios say about COHU?
Our models span a range for Cohu Inc: cautious scenario $1.00, base $2.15, optimistic $3.63 per share (as of Nov 1, 2026, price $50.79). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of COHU?
The PEG ratio of Cohu Inc is 1.15 (P/E divided by earnings growth, as of Nov 1, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Cohu Inc (COHU)?
Balance-sheet figures for Cohu Inc (as of Nov 1, 2026): return on equity −4.8%, debt of 0.36 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is COHU from its 52-week high?
Cohu Inc trades at $50.79, about 31% below its 52-week high of $73.91 and 138% above the low of $21.38 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of $2.15 is for.
Which stocks are comparable to Cohu Inc?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Cohu Inc stock attractive at the current price?
The data as of Nov 1, 2026: price $50.79, calculated fair value $2.15 (−96%), Quality Score 50/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of COHU calculated?
We run Cohu Inc through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $2.15, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. Cohu Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Cohu Inc (COHU)?
The closing price on Oct 30, 2026 was $50.79. Our model-based fair value is $2.15, about 96% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cohu Inc right now?
The price sits above even our optimistic bull case ($3.63). The favourable scenario is already priced in. The model range is unusually wide ($1.00 to $3.63). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Cohu Inc
How large is the market capitalisation of Cohu Inc (COHU)?
The market capitalisation of Cohu Inc is $2.4B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Cohu Inc (COHU)?
The price-to-sales ratio of Cohu Inc is 4.84 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cohu Inc (COHU)?
Earnings per share at Cohu Inc are $−0.8300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Cohu Inc (COHU)?
The net margin of Cohu Inc is −7.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Cohu Inc (COHU)?
The return on equity (ROE) of Cohu Inc is −4.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Cohu Inc (COHU)?
On an EBIT basis the return on assets of Cohu Inc is 3.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Cohu Inc (COHU)?
The operating margin of Cohu Inc is 0.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cohu Inc (COHU)?
Revenue at Cohu Inc is growing +38.4% versus a year earlier (3y avg −17.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Cohu Inc (COHU)?
Earnings per share at Cohu Inc are growing −84.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Cohu Inc (COHU) carry?
The net debt of Cohu Inc is $132M (fiscal year 2025, ≈ 12.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 1, 2026