Cohu (COHU) Cash Flow: Operating & Free Cash Flow

Cohu Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Cohu, Inc. (COHU) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	-74.27	-69.82	28.16	96.85	167.33	-13.80	-69.69	-32.42	32.84
Depreciation & Amortization	53.94	52.49	49.74	46.02	48.57	52.75	58.87	26.05	9.20
Deferred Income Tax	-1.80	-3.72	-4.77	-3.50	0.95	-5.31	-5.39	-8.21	-3.79
Stock Based Compensation	23.04	20.74	17.24	14.92	13.79	14.23	14.15	18.28	7.01
Change in Working Capital	22.16	-3.88	10.41	-48.94	-71.76	-12.94	5.56	8.94	-11.37
Change in Accounts Receivable	-14.47	34.85	61.90	12.45	-59.12	-20.21	21.15	5.79	-3.26
Change in Inventory	4.28	6.37	12.84	-18.51	-35.86	-14.98	0.03	2.04	-12.20
Change in Accounts Payable	10.30	-5.79	-21.36	-12.22	17.32	15.06	-3.12	-7.10	4.16
Change in Other Working Capital	22.05	8.49	-42.97	9.87	5.91	7.19	-12.50	8.21	-0.07
Other Operating Activities	8.62	8.49	0.69	9.87	-61.15	14.80	13.77	21.81	5.87
Net Cash from Operating Activities	31.69	2.78	101.47	112.86	97.73	49.73	17.27	34.44	39.75
Investing Activities
Capital Expenditures	-20.96	-10.63	-16.05	-14.77	-12.00	-18.66	-18.00	-4.97	-6.09
Acquisitions	-34.26	0.00	-69.73	0.00	120.89	2.98	0.00	-339.12	-11.72
Purchases of Investments	-263.42	-81.79	-97.29	-208.86	-204.70	-19.70	-0.32	-38.70	-37.01
Sales/Maturities of Investments	63.76	114.23	152.65	155.41	135.55	0.00	0.00	59.47	47.67
Other Investing Activities	-2.15	-3.11	0.22	0.35	0.16	17.03	1.77	1.01	0.10
Net Cash from Investing Activities	-257.02	21.92	-30.21	-67.87	39.89	-18.36	-16.55	-322.31	-7.04
Financing Activities
Debt Repayment	285.12	-31.35	-38.84	-38.39	-204.88	-35.18	1.66	345.93	-1.63
Common Stock Issued	0.00	0.00	0.00	0.00	223.12	0.00	0.00	0.00	10.35
Common Stock Repurchased	-7.40	-26.99	-23.64	-50.72	-7.32	0.00	0.00	-8.98	0.00
Dividends Paid	0.00	0.00	0.00	0.00	0.00	-4.97	-9.83	-6.95	-6.58
Other Financing Activities	-31.40	-0.70	-5.66	-1.96	-4.39	2.08	-0.02	-7.90	0.00
Net Cash from Financing Activities	246.33	-59.04	-68.14	-91.07	6.53	-38.07	-8.18	322.11	2.15
Summary
Effect of Forex Changes on Cash	-0.36	-4.78	0.06	-1.78	-3.49	0.13	-1.53	-3.60	3.39
Net Change in Cash	20.65	-39.12	3.18	-47.86	140.84	-6.57	-8.99	30.64	38.24
Cash at Beginning of Period	206.41	245.52	242.34	290.20	149.36	155.93	164.92	134.29	96.05
Cash at End of Period	227.05	206.41	245.52	242.34	290.20	149.36	155.93	164.92	134.29
Free Cash Flow	10.73	-7.86	85.42	98.09	85.73	31.07	-0.73	29.47	33.66
Supplemental Disclosures
Interest Paid	0.54	0.80	3.42	3.44	6.25	-	-	-	-
Income Taxes Paid	-2.83	24.93	44.28	23.12	22.72	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Cohu Cash Flow

What is Cohu's free cash flow?

Cohu generated free cash flow of $10.73M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $31.69M minus $20.96M of capital expenditures. Free cash flow equaled 2.4% of revenue.

How much does Cohu spend on capital expenditures?

Cohu spent $20.96M on capital expenditures in fiscal 2025, compared with $10.63M a year earlier. That equals 66.1% of operating cash flow.

Does Cohu pay dividends or buy back shares?

Yes. In fiscal 2025 Cohu returned $7.40M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition