Axcelis Technologies, Inc. (ACLS) vs Cohu, Inc. (COHU)

Axcelis Technologies, Inc. and Cohu, Inc. are both Semiconductor Equipment & Materials companies. Axcelis Technologies, Inc. is the larger, with a market value of $3.6B against $3.0B — 1.2× the size. Cohu, Inc. has negative trailing earnings, so its P/E is not meaningful; Axcelis Technologies, Inc. trades at 41.0×. Cohu, Inc. grew revenue faster over the last twelve months: 32.7% against −3.35%. Axcelis Technologies, Inc. has the higher net margin (10.7% vs −7.43%) and the higher return on invested capital (7.94% vs −3.94%). Across the 21 metrics below, Axcelis Technologies, Inc. leads on 17 and Cohu, Inc. on 4.

Valuation

Metric ACLS COHU Semiconductor Equipment & Materials median
P/E 41.04 n/m 54.39
P/S 4.38 6.08 6.08
P/B 3.56 4.10 4.89
Price to free cash flow 57.85 89.83 60.92
EV/EBITDA 33.07 255.65 39.95
EV/Sales 3.98 5.70 6.36
Earnings yield 2.44% (1.24%) 1.14%
Free cash flow yield 1.73% 1.11% 1.28%

Profitability

Metric ACLS COHU Semiconductor Equipment & Materials median
Gross margin 43.01% 43.95% 43.95%
Operating margin 10.32% (6.90%) 10.32%
Net margin 10.71% (7.43%) 7.45%
Free cash flow margin 7.57% 6.77% 6.77%
Return on equity 8.89% (4.84%) 4.78%
Return on assets 6.85% (3.42%) 3.62%
Return on invested capital 7.94% (3.94%) 6.10%

Growth

Metric ACLS COHU Semiconductor Equipment & Materials median
Revenue growth (TTM) (3.35%) 32.66% 14.60%
EPS growth (last fiscal year) (38.21%) (6.71%) —
Revenue growth, 5-year CAGR 12.07% (6.56%) 8.85%
Net income growth, 5-year CAGR 19.19% 0.00% 0.00%

Health

Metric ACLS COHU Semiconductor Equipment & Materials median
Debt to equity 0.04 0.38 0.09
Current ratio 4.90 5.74 3.66
Net debt to EBITDA (2.51) 11.87 (0.49)

Dividend

Metric ACLS COHU Semiconductor Equipment & Materials median
Dividend yield — — 0.85%
Payout ratio 0.00 0.00 0.00

Size

Metric ACLS COHU Semiconductor Equipment & Materials median
Market cap 3.59b 3.03b 4.63b

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