Does COHU INC have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores COHU INC (COHU) 31.6 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 61, returns on capital 11, balance-sheet safety 28, capital discipline 24.

Is COHU stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $13.78 per share versus a recent price of $51.19 — 272% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has COHU's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 31.6 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

COHU INC

COHU · Healthcare · $2.6B mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power61

Median gross margin 39.4% over 5y, stable.

Returns on capital11

Median ROIC 0.9%, above the 9% hurdle in 30% of years.

Balance-sheet safety28

Net debt/EBITDA n/ax, interest coverage -34x.

Capital discipline24

Owner earnings trend unclear, share count growing (dilution).

Margin of safety

Above valueOn sale

272% above value

Owner earnings (normalized): $61.8M
Est. intrinsic value / share: $13.78
Recent price: $51.19
Discount to value: 272% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

18 years of fundamentals

The business, in plain English

Across the filed record, revenue grew from $171.3M (FY2009) to $453.0M (FY2025) — about 6.3% a year compounded over 16 years.

It earned −6.4% on invested capital in FY2025, with a median of 1.4% across 17 filed years. The Returns on Capital filter above scores it 11/100.

The balance sheet carried $296.1M of total debt in FY2025. Balance-Sheet Safety scores it 28/100.

The share count rose 107.9% between FY2010 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 24/100.

Put together: Pricing Power is the strongest of the four filters (61/100) and Returns on Capital the weakest (11/100), which is how COHU lands at 32/100 — a None moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$453.0M FY2025

Gross marginRevenue kept after cost of goods42.7% FY2020

Return on invested capitalOperating profit on the capital employed−6.4% FY2025

Owner earningsCash an owner could take out−$44.5M FY2025

Gaps in a line mean that item isn’t in COHU’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale31.6 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — COHU has read No moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Healthcare context

#338 of 440 scored Healthcare companies, ranked by Moat Score.

Nearest peers by Moat Score

#336SBFM SUNSHINE BIOPHARMA INC.31.9 out of 100, No moatNo moat
#337CYRX Cryoport, Inc.31.8 out of 100, No moatNo moat
#339GPRO GOPRO, INC.31.5 out of 100, No moatNo moat
#340AMRX AMNEAL PHARMACEUTICALS, INC.31.5 out of 100, No moatNo moat

Compare COHU with its nearest peers →All Healthcare companies on the Index →

Common questions about COHU

Does COHU INC have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores COHU INC (COHU) 31.6 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 61, returns on capital 11, balance-sheet safety 28, capital discipline 24.
Is COHU stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $13.78 per share versus a recent price of $51.19 — 272% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has COHU's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 31.6 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell COHU. See the disclaimer.