COHR

Coherent, Inc.

Fundamental data last updated:September 24, 2026

We may earn a commission from partner links. This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate.

company profile

SECTOR

Technology

industry

Hardware, Equipment & Parts

Exchange

NYSE

County of HQ

US

Next Earnings Date

Pending Announcement

Business Summary

Coherent, Inc. specializes in advanced laser technologies, offering a comprehensive suite of products that includes lasers, laser-based solutions, and complete systems. These are deployed across a spectrum of uses, from commercial and industrial operations to critical scientific research. The company's operations are distinctly segmented into two primary areas: laser sources for Original Equipment Manufacturers (OEMs) and industrial lasers alongside integrated systems. Coherent handles the entire lifecycle of its offerings, from conceptual design and manufacturing to global marketing and ongoing service. Their product portfolio spans lasers, specialized laser tools, high-precision optical components, associated accessories, and sophisticated laser measurement and control devices. These sophisticated tools are integral to fields such as microelectronics fabrication, advanced materials processing, integration into original equipment manufacturer (OEM) components and instrumentation, scientific studies, and various governmental programs. Distribution in the U.S. is primarily managed by an in-house sales team, while international markets are reached through a combination of direct sales personnel and independent representatives. Established in 1966, Coherent, Inc. maintains its headquarters in Santa Clara, California. Notably, since July 1, 2022, the company has operated as a wholly-owned subsidiary of II-VI Incorporated.

 


VALUATION

P/E

111.30

Market Cap ($M USD)

$53.23B

Forward P/E

N/A

PEG

N/A

PRICE TO SALES

8.06

PRICE TO BOOK

4.89

EV / EBITDA

47.46

5-Year Average P/E

Free Cash Flow Yield

-1.01%

DCF Value

$4.94

Graham Number

$68.26

Price to FCF

-98.90

EV to FCF

-102.31

Earnings Yield

0.90%

FCF Yield

-1.01%

DIVIDEND

Yield

0.00%

Annual Payout

$0.00

Payout Ratio

7.31%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$3.02

Next Year EPS Growth Estimate

$0.00

Next Year Revenue Growth Estimate

$19.97B

Return on Equity (ROE)

5.26%

FREE CASH FLOW

Operating Margin

10.28%

Debt-to-Equity

0.48

Piotroski F-Score

7

Altman Z-Score

5.88

Return on Invested Capital (ROIC)

4.47%

Current Ratio

3.05

Quick Ratio

2.04

Net Debt to EBITDA

1.58

Interest Coverage

2.01

Gross Profit margin

36.99%

FCF PER SHARE

$-3.46

REVENUE PER SHARE

$42.46

Gainseekers Quantitative Analysis

Summary

Coherent, Inc. presents a perplexing valuation conundrum. The stock’s market price has been trading significantly above its DCF value, suggesting a potential overvaluation. Despite a seemingly attractive earnings yield of 3.68%, the Altman Z-score of 0.50 signals distress, raising red flags about its financial stability. The lack of a forward P/E further complicates the growth narrative, hinting at uncertainty in future earnings. Overall, the market appears to be pricing in expectations that may not align with the company’s current financial health.

AI Exposure / Tech Reliance

Positioned within the Hardware, Equipment & Parts industry, Coherent, Inc. is strategically placed to leverage advancements in AI and modern technology. The sector's inherent demand for cutting-edge solutions provides a fertile ground for innovation. However, the company's ability to capitalize on these opportunities remains to be seen.

The Bull Case

For the optimistic investor, Coherent's current ratio of 3.05 and Piotroski F-Score of 5 suggest a degree of operational resilience. Despite a zero ROIC, the company's ability to maintain liquidity could be seen as a buffer against short-term volatility. While margins are razor-thin, the consensus rating of "Buy" indicates institutional confidence in a potential turnaround. This could be a speculative play for those betting on a strategic pivot or market correction.

The Bear Case

The bear case for Coherent is stark. With an astronomical EV to EBITDA of 1962.56 and a negative FCF yield of -10.10%, the company is hemorrhaging cash. Its proximity to the 52-week high, coupled with a Price/Book ratio of 0.0049, suggests technical overextension. The gross profit margin is virtually nonexistent, raising serious concerns about its ability to generate sustainable profits.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Buy

Average Analyst Price Target

$333.14

Institutional Ownership %

1-Year Beta

2.04

Insider Buying % (6 Mo)

Distance to 52-Week High

31.07%

Distance to 52-Week Low

74.87%

EARNINGS SURPRISE %

0.00%

50-DAY SMA

$369.02

200-DAY SMA

$236.79

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.