Quick verdict: COHU vs INDI in 2026

Overall, Cohu, Inc. (COHU) appears to have a stronger financial footing and growth momentum compared to indie Semiconductor, Inc. (INDI) in 2026. COHU takes the lead as the growth leader with significantly higher revenue growth, and also presents a less extreme valuation profile making it the de facto value leader. Furthermore, COHU demonstrates superior profitability metrics, establishing itself as the margin leader, though both companies are currently unprofitable. Analysts show a strong consensus “Buy” for both, but INDI shows a marginal positive price target upside. Not investment advice.

COHU vs INDI: key metrics side by side

Full side-by-side comparison of COHU and INDI across valuation, profitability, growth and analyst sentiment. Data updated 2026-05-12.

COHU vs INDI valuation comparison

When comparing COHU vs INDI valuation in 2026, Cohu, Inc. exhibits a considerably more favorable, albeit still challenging, valuation profile. COHU’s Price-to-Earnings (P/E) ratio stands at -43.39x, a stark contrast to indie Semiconductor’s extremely negative P/E of -6190.66x. While both companies are currently unprofitable, COHU’s P/E suggests a much closer proximity to potential profitability or at least significantly less severe losses relative to its share price. Similarly, COHU’s Price-to-Book (P/B) ratio of 3.13x is substantially lower and more attractive than INDI’s extraordinarily high P/B of 2910.7x, indicating that INDI’s market capitalization is vastly inflated compared to its book value.

Further examining their intrinsic value, COHU’s Discounted Cash Flow (DCF) analysis suggests a potential downside of -87.5% from its current price of $51.28, implying a DCF value of $6.39. In contrast, INDI’s DCF valuation points to an even more significant downside of -786.1% from its $4.74 price, yielding a negative DCF of $-32.52. This suggests that based on future cash flow projections, COHU, though facing considerable overvaluation, is in a far less precarious position than INDI. Therefore, in a relative comparison of COHU vs INDI valuation, COHU appears to be the cheaper stock, reflecting a more grounded market assessment relative to its underlying financials, despite both showing significant overvaluation according to DCF models.

COHU vs INDI growth comparison

In terms of growth, Cohu, Inc. demonstrates significantly stronger momentum compared to indie Semiconductor, Inc. COHU reported a revenue growth rate of +12.7% year-over-year, showcasing a robust expansion in its top line. This healthy growth indicates that Cohu is effectively increasing its market penetration and sales volume, a positive sign for investors looking for expanding businesses. This performance is particularly noteworthy when considering the broader industry landscape in 2026.

Conversely, indie Semiconductor posted a mere +0.3% revenue growth year-over-year, suggesting a near-stagnation in sales. This minimal growth raises concerns about INDI’s ability to capture new market share or meaningfully increase revenue from existing operations. When considering the profitability margins alongside growth, COHU also presents a more stable picture. Its net margin of -11.54% and EBITDA margin of 0.15% are considerably better than INDI’s net margin of -69.76% and deeply negative EBITDA margin of -46.98%. While both are currently unprofitable, COHU’s figures suggest it is much closer to achieving operational efficiency and profitability. This distinct difference in revenue growth and margin performance strongly positions COHU as the company with superior growth momentum and more promising forward estimates in this COHU vs INDI comparison.

COHU vs INDI profitability

Analyzing the profitability of Cohu, Inc. (COHU) versus indie Semiconductor, Inc. (INDI) reveals a clear disparity, with COHU exhibiting a significantly healthier financial state despite both companies currently operating at a loss. COHU’s net margin stands at -11.54%, indicating that while it is not yet profitable, its losses are far more contained relative to its revenue. In stark contrast, INDI’s net margin is a deeply concerning -69.76%, signifying substantial losses that erode a significant portion of its revenue. This vast difference highlights COHU’s superior cost management and operational efficiency compared to INDI.

Furthermore, COHU’s EBITDA margin is a slim but positive 0.15%, demonstrating that the company is at least breaking even at the operating level before accounting for non-operating expenses. INDI, on the other hand, reports a significantly negative EBITDA margin of -46.98%, indicating that its core business operations are fundamentally unprofitable even before interest, taxes, depreciation, and amortization. Both companies show an N/A% for Return on Equity (ROE), likely due to negative equity or specific accounting circumstances, making direct ROE comparison impossible. However, COHU’s Free Cash Flow (FCF) yield of 1.66% indicates it generates positive cash from its operations, allowing it to fund investments or debt reduction. INDI’s FCF yield of -6.54% suggests it is burning cash, which is a major red flag for sustainability. Based on these metrics, COHU clearly generates more cash and is on a much more sustainable path towards profitability in this COHU vs INDI comparison.

Analyst ratings: COHU vs INDI

Examining the analyst ratings for COHU vs INDI reveals a surprising consensus among financial professionals for both stocks, despite their differing financial performance. Cohu, Inc. (COHU) is covered by 14 analysts, with a strong 85.7% issuing a “Buy” recommendation, leading to a “Buy” consensus. However, the average analyst price target for COHU is $49.75, which represents a -3.0% downside from its current price of $51.28. This suggests that while analysts generally favor the stock, they believe it might be slightly overvalued at its current market price as of 2026-05-12.

Similarly, indie Semiconductor, Inc. (INDI) also garners significant analyst approval, with 7 analysts covering the stock and an identical 85.7% “Buy” rating, resulting in a “Buy” consensus. Unlike COHU, INDI’s average price target of $4.75 offers a slight +0.2% upside from its current price of $4.74. This marginal positive upside suggests analysts see a very small potential for price appreciation in INDI, while for COHU they anticipate a slight pull-back. Although both stocks share the same high percentage of “Buy” ratings, the nuanced price target data indicates that analysts collectively see more immediate, albeit minimal, upside potential in INDI, while holding a slightly more cautious view on COHU’s current valuation, despite COHU having twice as many analysts following it.

Should I buy COHU or INDI stock in 2026?

When considering whether should I buy COHU or INDI stock in 2026, investors must weigh their individual financial goals against the distinct profiles of these two semiconductor companies. For growth-oriented investors, Cohu, Inc. (COHU) presents a more compelling case. With its robust revenue growth of 12.7% year-over-year, significantly outperforming INDI’s modest 0.3%, COHU demonstrates stronger market momentum and a greater capacity for expansion. Furthermore, its considerably less negative net and EBITDA margins suggest a more efficient operation poised for future profitability compared to INDI’s deep losses.

For value investors scrutinizing COHU vs INDI fundamentals and valuation, COHU also stands out as the relatively “better” choice, though both carry significant risks given their unprofitability and DCF models. COHU’s P/E ratio of -43.39x and P/B ratio of 3.13x are far more attractive than INDI’s extreme -6190.66x P/E and 2910.7x P/B. The DCF analysis, while showing substantial overvaluation for both, indicates COHU is less severely overvalued (-87.5% downside) compared to INDI (-786.1% downside). This suggests COHU’s current market price is somewhat more aligned with its intrinsic value, even if still stretched, relative to INDI.

Investors focused on income generation will find neither COHU nor INDI suitable, as both companies currently have a dividend yield of 0%. Both companies are in growth or turnaround phases, prioritizing reinvestment over shareholder distributions. Ultimately, while both carry risks typical of the semiconductor sector and current unprofitability, COHU exhibits a stronger operational foundation, growth trajectory, and a more rational valuation compared to INDI. This is not investment advice; always conduct your own thorough research and consult with a financial professional.

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