Cohu Inc (COHU)
Operating return on assets (Operating ROA)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 43,272 | 70,181 | 96,486 | 117,741 | 125,557 | 115,869 | 115,878 | 193,481 | 201,518 | 202,737 | 167,661 | 52,616 | 3,260 | -29,173 | -33,836 | -47,970 | -52,328 | -97,820 | -84,786 | -59,357 |
| Total assets | US$ in thousands | 1,150,350 | 1,167,520 | 1,188,060 | 1,187,600 | 1,227,410 | 1,197,920 | 1,239,400 | 1,243,340 | 1,259,040 | 1,272,870 | 1,371,730 | 1,258,760 | 1,090,350 | 1,046,350 | 1,066,580 | 1,072,160 | 1,077,710 | 1,071,610 | 1,103,500 | 1,106,200 |
| Operating ROA | 3.76% | 6.01% | 8.12% | 9.91% | 10.23% | 9.67% | 9.35% | 15.56% | 16.01% | 15.93% | 12.22% | 4.18% | 0.30% | -2.79% | -3.17% | -4.47% | -4.86% | -9.13% | -7.68% | -5.37% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $43,272K ÷ $1,150,350K
= 3.76%
Cohu Inc's operating return on assets (ROA) has exhibited fluctuations over the past several quarters. The operating ROA ranged from a low of -9.13% in Dec 2019 to a high of 16.01% in Sep 2021. It is noteworthy that the operating ROA improved significantly from negative figures in 2020 to positive values in 2021 and continued to increase until reaching its peak in Sep 2021.
However, the operating ROA declined in the most recent quarter, decreasing to 3.76% in Dec 2023. This decline could be attributed to various factors such as changes in operating expenses, revenue fluctuations, or adjustments in asset utilization.
Overall, the trend in Cohu Inc's operating ROA indicates variability in the company's ability to generate profits from its operating assets. Further analysis of the company's financial performance and operational efficiency is necessary to understand the drivers behind the fluctuations in the operating ROA over the observed periods.
Peer comparison
Dec 31, 2023