COHUCOHU INC
Instruments For Meas & Testing Of Electricity & Elec Signals
- Revenue
- $453M
- 13% YoY
- Operating margin
- -15.4%
- 14% YoY
- EBITDA
- −$19M
- 0.5% YoY
- Market cap
- $2.6B
- Employees
- 2,857
- $159K revenue each
- Net debt / EBITDA
- —
- $33M net debt
- AI in 10-K
- 11.4
- mentions per 10K words
Takeover score 4 of 13
Fixable underperformance 1 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$5M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo434% of net incomeCash flow under 80% of net income
- Dilutive SBCNo5% of revenueOver 10% of revenue
- Payouts exceed cash flowNo27% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo21% of assetsOver 40% of assets
- Shareholder dissentNo98% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeYes$159K · 9th pctBottom quartile of its SIC industry
- Quiet on AINo11.4 per 10K words · 94th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$2.6B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$13M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $887M | $813M | $636M | $402M | $453M | 13% |
| Operating income | $202M | $126M | $43M | −$72M | −$70M | 2.6% |
| Net income | $167M | $97M | $28M | −$9M | $7M | 180% |
| Operating cash flow | $98M | $113M | $101M | $3M | $32M | 1041% |
| Capex | $12M | $15M | $16M | $11M | $21M | 97% |
| Stock-based comp | $14M | $15M | $17M | $21M | $23M | 11% |
| Buybacks | $7M | $51M | $24M | $27M | $9M | 68% |
| Dividends | $0 | $0 | — | — | — |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $13M · 22
- Net
- −$13M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $4M | $4M | 61 | 138 |
| FY2024 | $5M | −$1M | 121 | 207 |
| FY2023 | $7M | $4M | 159 | 191 |
| FY2022 | $5M | $5M | 144 | 138 |
| FY2021 | $5M | $960K | 171 | 183 |