Cohu Inc (COHU)
Return on total capital
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 49,198 | 76,301 | 102,995 | 123,834 | 130,892 | 121,855 | 117,843 | 193,844 | 198,757 | 198,555 | 163,955 | 48,222 | 624 | -33,239 | -34,921 | -48,731 | -52,226 | -94,560 | -83,253 | -54,169 |
| Long-term debt | US$ in thousands | 34,303 | 35,189 | 36,457 | 37,719 | 72,664 | 72,977 | 75,378 | 101,959 | 103,393 | 110,887 | 111,744 | 211,182 | 311,551 | 331,469 | 348,036 | 346,877 | 346,518 | 344,920 | 341,978 | 342,632 |
| Total stockholders’ equity | US$ in thousands | 950,170 | 946,236 | 953,393 | 938,779 | 928,841 | 881,811 | 894,452 | 886,897 | 882,502 | 871,979 | 850,231 | 749,474 | 512,288 | 474,609 | 466,758 | 464,884 | 483,072 | 491,753 | 514,805 | 528,670 |
| Return on total capital | 5.00% | 7.77% | 10.41% | 12.68% | 13.07% | 12.76% | 12.15% | 19.60% | 20.16% | 20.20% | 17.04% | 5.02% | 0.08% | -4.12% | -4.29% | -6.00% | -6.30% | -11.30% | -9.72% | -6.22% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $49,198K ÷ ($34,303K + $950,170K)
= 5.00%
Cohu Inc's return on total capital has exhibited fluctuations over the past 20 quarters. The return on total capital ranged from a low of -11.30% in the fourth quarter of 2019 to a high of 20.20% in the third quarter of 2021.
The return on total capital experienced a significant improvement from negative values in the first quarter of 2020 to positive double-digit percentages in subsequent quarters. This trend indicates a positive turnaround in the company's ability to generate profits relative to its invested capital.
Overall, Cohu Inc's return on total capital has shown variability but has generally trended upwards, reaching double-digit figures in several quarters. This suggests that the company has been effectively utilizing its capital to generate returns for its shareholders in recent periods.
Peer comparison
Dec 31, 2023