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How Cohu (COHU) makes money

Cohu (COHU) made $173M of revenue in the third quarter 2026 (Q3 2026), +37% from a year earlier. Systems brought in $90.7M (52%); Non-systems brought in $82.3M (48%). Of every dollar of revenue, 7¢ was left as operating profit, 7¢ was left as net earnings.

Drawing the Sankey…

Cohu revenue by segment, Q3 2026Cohu revenue by segment, Q3 2026Systems$90.7MNon-systems$82.3M
Cohu: revenue by line, Q1 2025 to Q3 2026Cohu: revenue by line, Q1 2025 to Q3 2026Non-systemsSystemsNon-systems: $82.3M latest$82.3MSystems: $90.7M latest$90.7MQ1 2025Q2 2025Q3 2025Q1 2026Q2 2026Q3 2026
Non-systems went from 63% of revenue in Q1 2025 to 48% in Q3 2026, the largest shift in the mix.
Cohu revenue by quarterCohu revenue by quarter$96.8MQ1 2025$108MQ2 2025$126MQ3 2025$122MQ4 2025$125MQ1 2026$149MQ2 2026$173MQ3 2026
Cohu: where each dollar of revenue goesCohu: where each dollar of revenue goesOperating profit7¢Income tax1¢Net earnings7¢Operating cash flow3¢Free cash flow2¢

Revenue by segment, Q3 2026

SegmentRevenueShareQ/QY/Y
Systems$90.7M52.4%+28%+61%
Non-systems$82.3M47.6%+5%+18%

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$173M100.0%
Operating profit$12.8M7.4%
Income tax$2.2M1.3%
Net earnings$12.1M7.0%
Operating cash flow$5.6M3.2%
Free cash flow$3.0M1.7%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$173M+37%
Q2 2026$149M+38%
Q1 2026$125M+29%
Q4 2025$122M+30%
Q3 2025$126M+32%
Q2 2025$108M+3%
Q1 2025$96.8M-10%

From Cohu's 10-Q filed Oct 29, 2026 (on EDGAR).

Questions

How does Cohu make money?

Cohu (COHU) made $173M of revenue in the third quarter 2026 (Q3 2026), +37% from a year earlier. Systems brought in $90.7M (52%); Non-systems brought in $82.3M (48%). Of every dollar of revenue, 7¢ was left as operating profit, 7¢ was left as net earnings.

What is Cohu's biggest business?

Systems: $90.7M in the third quarter 2026, 52% of revenue, +61% from a year earlier.

What is Cohu's profit margin?

Net earnings were $12.1M, 7.0% of revenue, in the third quarter 2026; the operating margin was 7.4%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.