Cohu, Inc. (COHU) vs Trio-Tech International (TRT)

Cohu, Inc. and Trio-Tech International are both Semiconductor Equipment & Materials companies. Cohu, Inc. is the larger, with a market value of $3.0B against $75.0M — 40.4× the size. Cohu, Inc. has negative trailing earnings, so its P/E is not meaningful; Trio-Tech International trades at 156×. Trio-Tech International grew revenue faster over the last twelve months: 64.1% against 32.7%. Trio-Tech International has the higher net margin (0.60% vs −7.43%) and the higher return on invested capital (1.89% vs −3.94%). Across the 20 metrics below, Trio-Tech International leads on 14 and Cohu, Inc. on 6.

Valuation

Metric COHU TRT Semiconductor Equipment & Materials median
P/E n/m 155.50 54.39
P/S 6.08 0.94 6.08
P/B 4.10 1.69 4.89
Price to free cash flow 89.83 376.61 60.92
EV/EBITDA 255.65 14.34 39.95
EV/Sales 5.70 0.69 6.36
Earnings yield (1.24%) 0.64% 1.14%
Free cash flow yield 1.11% 0.27% 1.28%

Profitability

Metric COHU TRT Semiconductor Equipment & Materials median
Gross margin 43.95% 17.60% 43.95%
Operating margin (6.90%) 0.91% 10.32%
Net margin (7.43%) 0.60% 7.45%
Free cash flow margin 6.77% 0.25% 6.77%
Return on equity (4.84%) 1.07% 4.78%
Return on assets (3.42%) 0.82% 3.62%
Return on invested capital (3.94%) 1.89% 6.10%

Growth

Metric COHU TRT Semiconductor Equipment & Materials median
Revenue growth (TTM) 32.66% 64.13% 14.60%
EPS growth (last fiscal year) (6.71%) (104.17%) —
Revenue growth, 5-year CAGR (6.56%) 1.14% 8.85%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric COHU TRT Semiconductor Equipment & Materials median
Debt to equity 0.38 0.02 0.09
Current ratio 5.74 3.38 3.66
Net debt to EBITDA 11.87 (5.35) (0.49)

Dividend

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

Size

Metric COHU TRT Semiconductor Equipment & Materials median
Market cap 3.03b 74.98m 4.63b

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