Cohu Inc (COHU)
Pretax margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | -64,946 | -46,140 | -22,679 | 8,823 | 45,816 | 72,424 | 98,863 | 119,510 | 126,715 | 117,886 | 113,936 | 189,025 | 192,344 | 190,328 | 153,673 | 36,315 | -13,177 | -47,967 | -51,640 | -67,336 |
| Revenue (ttm) | US$ in thousands | 401,779 | 444,883 | 500,345 | 564,565 | 636,322 | 690,201 | 746,084 | 794,389 | 812,775 | 813,530 | 831,906 | 859,483 | 887,214 | 897,709 | 823,293 | 722,574 | 636,007 | 575,663 | 568,514 | 574,441 |
| Pretax margin | -16.16% | -10.37% | -4.53% | 1.56% | 7.20% | 10.49% | 13.25% | 15.04% | 15.59% | 14.49% | 13.70% | 21.99% | 21.68% | 21.20% | 18.67% | 5.03% | -2.07% | -8.33% | -9.08% | -11.72% |
December 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-64,946K ÷ $401,779K
= -16.16%
Cohu Inc's pretax margin has shown a significant improvement over the past few quarters, indicating better operational efficiency and profitability. The pretax margin started at negative levels in early 2020 but steadily improved to reach positive territory by March 2021. Subsequently, the company experienced substantial growth in pretax margin, peaking at over 20% by the end of 2021 and maintaining levels above 15% until mid-2023.
However, there was a decline in pretax margin towards the end of 2023 and into 2024, with the margin turning negative once again by June 2024. This downward trend may indicate challenges faced by Cohu Inc, potentially related to increased costs, reduced revenues, or other operational factors impacting profitability.
Overall, while Cohu Inc demonstrated a strong recovery and sustained profitability for a significant period, the recent decline in pretax margin signals a potential need for the company to address operational efficiency and cost management to ensure sustained profitability in the future.
Peer comparison
Dec 31, 2024