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Coherent

COHR NYSE Electronic Components Financials FY2017–FY2026

Coherent's revenue rose 22.5% to $7.1 billion in fiscal 2026. Its net margin was 11.3%, up from 0.8% a year earlier. Free cash flow was −$1.0 billion, against $193 million a year earlier. It paid out $11 million in dividends and buybacks. The diluted share count rose 26.3%.

Last close · Oct 23, 2026

$209.29

0.7%
Value it Compare
Revenue Total sales reported in the income statement.
$7.1B
22.5% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$805M
1,529.6%
Free cash flow Cash from operations minus capital spending.
−$1.0B
630.9%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
9.1%
7.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$40.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
50.8x

About these figures. Coherent's income statement has had no operating income line since fiscal 2025, so operating income and operating margin are blank from then on.

What Coherent does

No business description yet.

Legal name
COHERENT CORP.
Fiscal year ends
June 30, 2026
Latest annual report
—
Accession · CIK
0000820318-26-000020
0000820318

Revenue and margins

Coherent had $7.1B of revenue in fiscal 2026, up 22.5% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew 12.0% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was −$1.0B in fiscal 2026, −14.4% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Coherent returned $11.4M to shareholders in fiscal 2026. The diluted share count rose 26.3%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Coherent yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.2B and divides by 195.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 50.8x · peers 18.6x · sector 33.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Coherent can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $2.6B$821M$926M$909M$2.0B
Debt incl. finance leases $2.3B$4.3B$4.1B$3.7B$3.2B
Net debt / EBITDA −0.4x0.0x4.9x3.1x0.8x
Debt / equity 0.6x0.9x0.8x0.7x0.3x
Interest coverage 3.4x−0.1x0.3x1.4x5.5x
Current ratio 3.4x3.0x2.7x2.2x2.4x
Quick ratio 2.7x1.8x1.8x1.4x1.5x
Total assets $7.8B$13.7B$14.5B$14.9B$18.3B
Total liabilities $3.5B$6.5B$6.5B$6.4B$7.1B
Shareholders' equity $3.6B$5.0B$5.2B$5.6B$10.9B
Net debt (− = net cash) −$261M$3.5B$3.2B$2.8B$1.2B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$10.6M

7 insiders

Of sales under plans

71%

$7.6M

DateInsiderTradeSharesPriceValueFiling
Sep 11, 2026 Enrico DigirolomoDirector Sold 5,315 $305.99 $1.6M Form 4
Sep 9, 2026 Robert P BeardChief Strategy & Legal Officer Sold 500 $309.32 $0.2M Form 4
Sep 2, 2026 Lisa Neal-GravesDirector Sold 2,200 $268.42 $0.6M Form 4
Sep 1, 2026 Julie Sheridan EngChief Technology Officer Sold plan 6,030 $270.69 $1.6M Form 4
Aug 31, 2026 Enrico DigirolomoDirector Sold plan 2,272 $276.85 $0.6M Form 4
Aug 31, 2026 Julie Sheridan EngChief Technology Officer Sold plan 7,047 $276.83 $2.0M Form 4
Aug 31, 2026 Stephen A SkaggsDirector Sold plan 2,272 $276.88 $0.6M Form 4
Aug 18, 2026 Sherri R LutherChief Financial Officer Sold plan 3,000 $324.00 $1.0M Form 4
Jul 22, 2026 Sherri R LutherChief Financial Officer Sold plan 1,000 $306.68 $0.3M Form 4
May 12, 2026 Sherri R LutherChief Financial Officer Sold plan 2,000 $372.96 $0.7M Form 4
May 11, 2026 Howard H. XiaDirector Sold 2,000 $354.50 $0.7M Form 4
Apr 22, 2026 Sherri R LutherChief Financial Officer Sold plan 2,000 $351.00 $0.7M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✕ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✕
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose ✕ ✕ ✓
Share count didn't rise ✕ ✕ ✕
Gross margin rose ✕ ✓ ✓
Revenue rose relative to assets ✕ ✓ ✓
F-score 4 / 97 / 97 / 9
Accruals ratio −5.0%−4.0%4.4%
Altman Z'' 2.142.203.75

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Coherent COHR $40.9B 22.5% — −14.4% 9.1% 50.8x 7
Corning GLW $108.2B 19.1% 14.6% 9.0% 10.8% 56.5x 6 Compare →
Belden BDC $4.1B 10.3% 11.6% 8.1% 13.3% 16.9x 8 Compare →
Littelfuse LFUS $8.9B 8.9% 1.6% 15.3% 0.7% — 6 Compare →
Amphenol APH $95.5B 51.7% 25.4% 19.0% 29.1% 18.6x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $972M $1.2B $1.4B $2.4B $3.1B $3.3B $5.2B $4.7B $5.8B $7.1B
Gross profit $388M $462M $521M $791M $1.2B $1.3B $1.6B $1.5B $2.0B $2.7B
Research and development $96.8M $117M $139M $339M $330M $377M $500M $479M $582M $723M
Operating income $116M $137M $149M $39.5M $402M $414M −$37.1M $96.1M — —
Interest expense $6.8M $18.4M $22.4M $89.4M $59.9M $121M $287M $313M $257M $189M
Pretax income $119M $122M $129M −$63.9M $353M $282M −$356M −$148M $94.2M $848M
Income tax $23.5M $34.2M $21.3M $3.1M $55.0M $47.0M −$96.1M $11.1M $64.1M $60.8M
Net income $95.3M $88.0M $108M −$67.0M $298M $235M −$260M −$156M $49.4M $805M
Diluted EPS $1.48 $1.35 $1.63 −$0.79 $2.37 $1.45 −$2.93 −$1.84 −$0.52 $4.12
Diluted shares 0.06B 0.07B 0.07B 0.08B 0.12B 0.12B 0.14B 0.15B 0.15B 0.20B
Cash flow
Cash from operations $119M $161M $179M $297M $574M $413M $634M $546M $634M $79.5M
Capital expenditure $139M $153M $137M $137M $146M $314M $436M $347M $441M $1.1B
Free cash flow −$19.9M $7.6M $41.4M $160M $428M $99.0M $198M $199M $193M −$1.0B
Depreciation and amortization $63.6M $80.8M $92.4M $221M $270M $287M $681.7B $560M $554M $522M
Stock-based compensation $11.8M $15.3M $21.9M $68.5M $71.0M $73.2M $149M $126M $160M $187M
Acquisitions $40.0M $80.5M $83.1M $1.0B $34.4M $0.0M $5.5B $0.0M $0.0M $0.0M
Share buybacks $0.0M $49.9M $1.6M $1.6M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends paid $0.0M $0.0M $0.0M $0.0M $20.3M $34.5M $27.6M $0.0M $11.4M $11.4M
Dividends and buybacks $0.0M $49.9M $1.6M $1.6M $20.3M $34.5M $27.6M $0.0M $11.4M $11.4M
Balance sheet
Cash and short-term investments $272M $247M $205M $493M $1.6B $2.6B $821M $926M $909M $2.0B
Total debt $342M $439M $467M $2.3B $1.4B $2.3B $4.3B $4.1B $3.7B $3.2B
Finance lease liabilities $0.0M $0.0M $0.0M $23.4M $22.3M $21.0M $19.5M $17.9M $16.1M $14.2M
Current assets $702M $762M $813M $1.8B $3.0B $4.3B $3.3B $3.7B $3.9B $6.9B
Current liabilities $185M $237M $271M $673M $730M $1.3B $1.1B $1.3B $1.8B $2.9B
Inventory $204M $248M $296M $620M $696M $903M $1.3B $1.3B $1.4B $2.6B
Property and equipment, net $368M $525M $583M $1.2B $1.2B $1.4B $1.8B $1.8B $1.9B $3.0B
Total assets $1.5B $1.8B $2.0B $5.2B $6.5B $7.8B $13.7B $14.5B $14.9B $18.3B
Total liabilities $577M $737M $821M $3.2B $2.4B $3.5B $6.5B $6.5B $6.4B $7.1B
Shareholders' equity $901M $1.0B $1.1B $2.1B $3.4B $3.6B $5.0B $5.2B $5.6B $10.9B
Margins
Gross margin 40.0% 39.9% 38.3% 33.2% 37.9% 38.2% 31.4% 30.9% 35.2% 37.5%
Operating margin 11.9% 11.8% 10.9% 1.7% 13.0% 12.5% −0.7% 2.0% — —
EBITDA margin 18.4% 18.8% 17.7% 10.9% 21.6% 21.1% 13,210.0% 13.9% 15.6% 21.9%
Net margin 9.8% 7.6% 7.9% −2.8% 9.6% 7.1% −5.0% −3.3% 0.9% 11.3%
FCF margin −2.1% 0.7% 3.0% 6.7% 13.8% 3.0% 3.8% 4.2% 3.3% −14.4%
Returns
Return on capital 10.5% 9.0% 9.5% 1.2% 9.6% 10.5% −0.5% 0.9% 2.0% 9.1%
Return on capital employed 9.9% 9.7% 9.3% 1.3% 7.8% 6.7% −0.4% 0.8% 2.7% 7.3%
Return on equity 11.3% 9.1% 10.0% −4.2% 10.9% 6.7% −6.0% −3.1% 0.9% 9.7%
Return on assets 7.1% 5.4% 5.8% −1.9% 5.1% 3.3% −2.4% −1.1% 0.3% 4.9%
Growth
Revenue growth 17.5% 19.2% 17.6% 74.7% 30.5% 6.8% 55.6% −8.8% 23.4% 22.5%
Net income growth 45.5% −7.6% 22.2% −162.3% — −21.1% −210.5% — — 1,530.7%
EPS growth 42.3% −8.8% 20.7% −148.5% — −38.8% −302.1% — — —
FCF growth −130.7% — 445.8% 287.9% 166.8% −76.9% 100.0% 0.5% −3.1% −630.9%
Share count change 2.5% 1.0% 1.0% 28.9% 35.6% 1.3% 18.1% 10.2% 2.1% 26.3%
Financial health
Net debt / EBITDA 0.4x 0.9x 1.1x 6.9x −0.3x −0.4x 0.0x 4.9x 3.1x 0.8x
Debt / equity 0.4x 0.4x 0.4x 1.1x 0.4x 0.6x 0.9x 0.8x 0.7x 0.3x
Interest coverage 17.0x 7.5x 6.6x 0.4x 6.7x 3.4x −0.1x 0.3x 1.4x 5.5x
Current ratio 3.8x 3.2x 3.0x 2.7x 4.2x 3.4x 3.0x 2.7x 2.2x 2.4x
Quick ratio 2.7x 2.2x 1.9x 1.7x 3.2x 2.7x 1.8x 1.8x 1.4x 1.5x
Capital allocation
Capex / revenue 14.3% 13.2% 10.1% 5.8% 4.7% 9.5% 8.5% 7.4% 7.6% 15.5%
Stock comp / revenue 1.2% 1.3% 1.6% 2.9% 2.3% 2.2% 2.9% 2.7% 2.8% 2.6%
Payouts / FCF — 658.3% 3.9% 1.0% 4.8% 34.9% 13.9% 0.0% 5.9% —
Quality scores
Piotroski F-score 7.0 3.0 5.0 3.0 7.0 4.0 3.0 4.0 7.0 7.0
Altman Z'' 6.1 5.5 5.4 2.7 4.8 4.6 2.1 2.1 2.2 3.8
Accruals ratio −1.7% −4.5% −3.8% −10.1% −4.7% −2.5% −8.3% −5.0% −4.0% 4.4%

Source: SEC EDGAR XBRL filings (CIK 0000820318). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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