NYSE : COHR
Coherent Corp. — Financial statements
Technology · Scientific & Technical Instruments · United States
Last price 210.32 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 41.42B
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Financial statements
Coherent Corp. (COHR) reported revenue of 7.12B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 7.12B | 7.12B | 5.81B | 4.71B | 5.16B | 3.32B |
| Cost of Revenue | 4.45B | 4.45B | 3.75B | 3.25B | 3.38B | 2.05B |
| Gross Profit | 2.67B | 2.67B | 2.06B | 1.46B | 1.78B | 1.27B |
| Selling, General & Admin | 1.04B | 1.04B | 926.45M | 854.00M | 1.00B | 474.10M |
| Research & Development | 722.95M | 722.95M | 578.92M | 478.79M | 499.60M | 377.11M |
| Operating Expenses | 1.77B | 1.77B | 1.51B | 1.33B | 1.50B | 851.20M |
| Operating Income | 901.52M | 901.52M | 551.95M | 123.17M | 279.98M | 414.29M |
| Interest Expense | -190.27M | -190.27M | -243.25M | -288.48M | -286.87M | -121.25M |
| Currency Exchange Gain (Loss) | -2.00M | -2.00M | 16.00M | -15.00M | 200.00K | -16.00M |
| Other Non Operating Income (Expenses) | 145.14M | 145.14M | 31.55M | 59.71M | -31.77M | 4.77M |
| EBT Excluding Unusual Items | 854.39M | 854.39M | 356.25M | -120.59M | -38.46M | 281.81M |
| Merger & Restructuring Charges | -63.39M | -63.39M | -160.08M | -27.05M | -277.10M | |
| Gain (Loss) on Sale of Assets | 59.73M | 59.73M | -84.99M | |||
| Asset Writedown | -17.00M | -40.00M | ||||
| Other Unusual Items | -3.00M | -3.00M | ||||
| Pretax Income | 847.73M | 847.73M | 94.18M | -147.65M | -355.56M | 281.81M |
| Income Tax Expense | 60.85M | 60.85M | 64.12M | 11.12M | -96.10M | 47.05M |
| Earnings From Continuing Operations | 786.88M | 786.88M | 30.06M | -158.76M | -259.46M | 234.76M |
| Minority Interest in Earnings | 18.11M | 18.11M | 19.31M | 2.61M | ||
| Net Income | 805.00M | 805.00M | 49.36M | -156.15M | -259.46M | 234.76M |
| Preferred Dividends & Other Adjustments | 35.10M | 35.10M | 129.93M | 123.36M | 144.21M | 68.22M |
| Net Income to Common | 769.90M | 769.90M | -80.56M | -279.51M | -403.67M | 166.53M |
| Shares Outstanding (Basic) | 177.27M | 177.27M | 154.75M | 151.64M | 137.58M | 106.19M |
| Shares Outstanding (Diluted) | 195.39M | 195.39M | 154.75M | 151.64M | 137.58M | 116.51M |
| EPS (Basic) | 4.34 | 4.34 | -0.52 | -1.84 | -2.93 | 1.57 |
| EPS (Diluted) | 4.12 | 4.12 | -0.52 | -1.84 | -2.93 | 1.45 |
| Free Cash Flow | -1.02B | -1.02B | 192.76M | 198.91M | 197.97M | 99.00M |
| Free Cash Flow Per Share | -5.24 | -5.24 | 1.25 | 1.31 | 1.44 | 0.85 |
| Gross Margin | 37.50% | 37.50% | 35.41% | 30.93% | 34.58% | 38.16% |
| Operating Margin | 12.67% | 12.67% | 9.50% | 2.62% | 5.43% | 12.49% |
| Profit Margin | 10.82% | 10.82% | -1.39% | -5.94% | -7.82% | 5.02% |
| Free Cash Flow Margin | -14.38% | -14.38% | 3.32% | 4.23% | 3.84% | 2.99% |
| EBITDA | 1.42B | 1.42B | 1.09B | 682.94M | 961.67M | 701.07M |
| EBITDA Margin | 20.00% | 20.00% | 18.73% | 14.51% | 18.64% | 21.14% |
| D&A For EBITDA | 521.89M | 521.89M | 536.60M | 559.76M | 681.69M | 286.78M |
| EBIT | 901.52M | 901.52M | 551.95M | 123.17M | 279.98M | 414.29M |
| EBIT Margin | 12.67% | 12.67% | 9.50% | 2.62% | 5.43% | 12.49% |
| Effective Tax Rate | 7.18% | 7.18% | 68.09% | 16.70% |
Balance sheet
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.16B | 1.16B | 909.20M | 926.03M | 821.31M | 2.58B |
| Short-Term Investments | 825.00M | 825.00M | ||||
| Trading Asset Securities | 3.00M | 3.00M | 17.00M | |||
| Cash & Short-Term Investments | 1.99B | 1.99B | 926.20M | 926.03M | 821.31M | 2.58B |
| Accounts Receivable | 1.34B | 1.34B | 964.05M | 848.54M | 901.53M | 700.33M |
| Other Receivables | 50.00M | |||||
| Receivables | 1.34B | 1.34B | 964.05M | 848.54M | 951.53M | 700.33M |
| Inventory | 2.58B | 2.58B | 1.44B | 1.29B | 1.27B | 902.56M |
| Prepaid Expenses | 897.11M | 897.11M | 534.60M | 398.20M | 166.53M | 100.35M |
| Restricted Cash | 35.16M | 35.16M | 8.90M | 174.01M | 12.02M | |
| Other Current Assets | 78.89M | 78.89M | 55.77M | 26.91M | 28.27M | 19.59M |
| Total Current Assets | 6.93B | 6.93B | 3.93B | 3.66B | 3.25B | 4.31B |
| Property, Plant & Equipment | 3.00B | 3.00B | 1.88B | 1.82B | 1.78B | 1.36B |
| Goodwill | 4.38B | 4.38B | 4.47B | 4.46B | 4.51B | 1.29B |
| Other Intangible Assets | 2.88B | 2.88B | 3.20B | 3.50B | 3.81B | 635.40M |
| Long-Term Deferred Tax Assets | 69.43M | 69.43M | 53.41M | 40.97M | 37.75M | 31.71M |
| Other Long-Term Assets | 1.05B | 1.05B | 1.38B | 1.00B | 311.97M | 223.58M |
| Total Assets | 18.30B | 18.30B | 14.91B | 14.49B | 13.71B | 7.84B |
| Accounts Payable | 1.91B | 1.91B | 846.98M | 631.55M | 405.31M | 434.92M |
| Accrued Expenses | 616.63M | 616.63M | 441.10M | 400.85M | 333.81M | 331.24M |
| Current Portion of Long-Term Debt | 7.92M | 7.92M | 188.31M | 73.77M | 74.84M | 403.21M |
| Current Portion of Leases | 64.22M | 64.22M | 41.58M | 40.58M | 38.27M | 27.57M |
| Current Income Taxes Payable | 173.25M | 173.25M | 123.76M | 90.70M | 74.49M | 29.32M |
| Current Unearned Revenue | 48.10M | 48.10M | 62.97M | 62.12M | 104.48M | 22.96M |
| Other Current Liabilities | 38.46M | 38.46M | 90.15M | 44.19M | 47.56M | 17.74M |
| Total Current Liabilities | 2.85B | 2.85B | 1.79B | 1.34B | 1.08B | 1.27B |
| Long-Term Debt | 3.21B | 3.21B | 3.50B | 4.03B | 4.23B | 1.90B |
| Long-Term Leases | 266.23M | 266.23M | 165.16M | 162.35M | 140.75M | 110.21M |
| Long-Term Unearned Revenue | 15.00M | 15.00M | 9.00M | 13.88M | 43.00M | |
| Long-Term Deferred Tax Liabilities | 540.61M | 540.61M | 711.72M | 784.37M | 780.31M | 77.26M |
| Other Long-Term Liabilities | 171.58M | 171.58M | 250.32M | 211.53M | 204.40M | 109.92M |
| Total Liabilities | 7.06B | 7.06B | 6.43B | 6.54B | 6.48B | 3.46B |
| Common Stock | 9.79B | 9.79B | 5.06B | 4.86B | 3.78B | 2.06B |
| Retained Earnings | 1.35B | 1.35B | 584.37M | 664.94M | 944.42M | 1.35B |
| Treasury Stock | -445.48M | -445.48M | -368.06M | -315.12M | -293.12M | -239.35M |
| Comprehensive Income & Other | 204.11M | 204.11M | 372.04M | 2.64M | 109.73M | -2.17M |
| Total Common Equity | 10.90B | 10.90B | 5.64B | 5.21B | 4.54B | 3.17B |
| Minority Interest | 334.70M | 334.70M | 353.51M | 371.39M | ||
| Shareholders' Equity | 11.24B | 11.24B | 8.48B | 7.95B | 7.23B | 4.38B |
| Total Liabilities & Equity | 18.30B | 18.30B | 14.91B | 14.49B | 13.71B | 7.84B |
| Total Debt | 3.55B | 3.55B | 3.89B | 4.30B | 4.49B | 2.44B |
| Net Cash (Debt) | -1.56B | -1.56B | -2.97B | -3.38B | -3.67B | 144.16M |
| Net Cash Per Share | -8.00 | -8.00 | -19.18 | -22.27 | -26.66 | 1.24 |
| Filing Date Shares Outstanding | 195.83M | 195.83M | 155.81M | 153.30M | 150.40M | 130.87M |
| Total Common Shares Outstanding | 195.75M | 195.75M | 155.56M | 152.78M | 139.58M | 106.95M |
| Working Capital | 4.07B | 4.07B | 2.13B | 2.32B | 2.17B | 3.04B |
| Book Value Per Share | 55.70 | 55.70 | 36.29 | 34.10 | 32.54 | 29.65 |
| Tangible Book Value | 3.64B | 3.64B | -2.03B | -2.76B | -3.79B | 1.25B |
| Tangible Book Value Per Share | 18.61 | 18.61 | -13.06 | -18.05 | -27.12 | 11.69 |
| Land | 59.00M | 59.00M | 59.54M | 66.16M | 69.64M | 19.37M |
| Buildings | 1.03B | 1.03B | 881.58M | 774.99M | 780.20M | 415.53M |
| Machinery | 2.92B | 2.92B | 2.19B | 2.03B | 1.88B | 1.65B |
| Construction In Progress | 776.51M | 776.51M | 363.13M | 398.88M | 287.99M | 271.61M |
Cash flow statement
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 805.00M | 805.00M | 49.36M | -156.15M | -259.46M | 234.76M |
| Depreciation & Amortization | 521.89M | 521.89M | 536.60M | 559.76M | 681.69M | 286.78M |
| Other Amortization | 17.56M | 17.56M | 19.77M | 17.65M | 19.85M | 18.81M |
| Loss (Gain) From Sale of Assets | -123.53M | -123.53M | 782.00K | 758.00K | 2.44M | 617.00K |
| Asset Writedown & Restructuring Costs | 87.56M | 87.56M | 157.91M | 16.56M | 119.46M | |
| Loss (Gain) From Sale of Investments | -74.00M | -74.00M | ||||
| Loss (Gain) on Equity Investments | -690.00K | -690.00K | -1.32M | 51.00K | 66.00K | -2.19M |
| Stock-Based Compensation | 186.47M | 186.47M | 160.24M | 126.05M | 148.87M | 73.21M |
| Other Operating Activities | -238.58M | -238.58M | -81.62M | -123.28M | -203.52M | -6.99M |
| Change in Accounts Receivable | -367.63M | -367.63M | -170.44M | 60.58M | 68.31M | -55.19M |
| Change in Inventory | -1.18B | -1.18B | -202.73M | -23.20M | 174.14M | -230.88M |
| Change in Accounts Payable | 748.53M | 748.53M | 217.36M | 205.04M | -83.33M | 97.05M |
| Change in Unearned Revenue | -9.31M | -9.31M | 3.18M | -72.82M | -18.96M | 26.61M |
| Change in Income Taxes | 18.18M | 18.18M | -22.12M | 12.25M | 28.65M | 17.96M |
| Change in Other Net Operating Assets | -308.94M | -308.94M | -33.38M | -77.52M | -44.19M | -47.22M |
| Operating Cash Flow | 79.51M | 79.51M | 633.60M | 545.73M | 634.02M | 413.33M |
| Capital Expenditures | -1.10B | -1.10B | -440.84M | -346.82M | -436.06M | -314.33M |
| Cash Acquisitions | -5.49B | |||||
| Divestitures | 436.99M | 436.99M | 27.00M | |||
| Sale (Purchase) of Intangibles | -7.17M | -7.17M | ||||
| Investment in Securities | -735.62M | -735.62M | ||||
| Other Investing Activities | -5.02M | -5.02M | -379.00K | -3.90M | -4.01M | -5.75M |
| Investing Cash Flow | -1.41B | -1.41B | -414.21M | -350.71M | -5.93B | -320.08M |
| Long-Term Debt Issued | 1.92B | 1.92B | 53.73M | 18.97M | 3.71B | 990.00M |
| Long-Term Debt Repaid | -2.40B | -2.40B | -488.65M | -247.83M | -1.33B | -76.94M |
| Net Debt Issued (Repaid) | -478.30M | -478.30M | -434.92M | -228.86M | 2.38B | 913.06M |
| Issuance of Common Stock | 2.05B | 2.05B | 49.57M | 42.30M | 24.17M | 17.86M |
| Repurchase of Common Stock | -77.42M | -77.42M | -53.99M | -22.32M | -54.17M | -21.25M |
| Preferred Dividends Paid | -27.60M | |||||
| Dividends Paid | -11.44M | -11.44M | -11.44M | -27.60M | -34.51M | |
| Other Financing Activities | -8.13M | -8.13M | -948.00K | 967.15M | -169.64M | -12.21M |
| Financing Cash Flow | 1.48B | 1.48B | -451.73M | 758.27M | 3.55B | 862.95M |
| Foreign Exchange Rate Adjustments | -7.38M | -7.38M | 75.57M | -1.17M | -4.22M | 34.28M |
| Net Cash Flow | 135.48M | 135.48M | -156.77M | 952.12M | -1.74B | 990.48M |
| Free Cash Flow | -1.02B | -1.02B | 192.76M | 198.91M | 197.97M | 99.00M |
| Free Cash Flow Margin | -14.38% | -14.38% | 3.32% | 4.23% | 3.84% | 2.99% |
| Free Cash Flow Per Share | -5.24 | -5.24 | 1.25 | 1.31 | 1.44 | 0.85 |
| Levered Free Cash Flow | -649.98M | -649.98M | 538.10M | 214.58M | -167.60M | 154.18M |
| Unlevered Free Cash Flow | -548.62M | -548.62M | 670.36M | 377.22M | -8.15M | 211.16M |
| Cash Interest Paid | 189.26M | 189.26M | 256.70M | 312.88M | 282.83M | 57.31M |
| Cash Income Tax Paid | 208.13M | 208.13M | 166.85M | 97.30M | 89.57M | 50.00M |
| Change in Working Capital | -1.10B | -1.10B | -208.13M | 104.34M | 124.63M | -191.67M |
Ratios
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 41.42B | 77.17B | 13.87B | 11.05B | 7.11B | 5.42B |
| Enterprise Value | 42.98B | 78.51B | 19.74B | 17.17B | 13.50B | 7.47B |
| Last Close Price | 210.32 | 394.47 | 89.21 | 72.46 | 50.98 | 50.95 |
| PE Ratio | 51.05 | 100.24 | 32.57 | |||
| Forward PE | 22.38 | 53.01 | 21.26 | 26.52 | 25.14 | 12.36 |
| PS Ratio | 5.82 | 10.84 | 2.39 | 2.35 | 1.38 | 1.64 |
| PB Ratio | 3.78 | 6.87 | 1.64 | 1.39 | 0.98 | 1.24 |
| P/TBV Ratio | 11.37 | 21.18 | 4.34 | |||
| P/FCF Ratio | 71.94 | 55.54 | 35.89 | 54.79 | ||
| P/OCF Ratio | 520.90 | 970.57 | 21.89 | 20.24 | 11.21 | 13.12 |
| PEG Ratio | 0.42 | 1.18 | 0.45 | 1.99 | 2.72 | 1.09 |
| EV/Sales Ratio | 6.04 | 11.03 | 3.40 | 3.65 | 2.62 | 2.25 |
| EV/EBITDA Ratio | 30.20 | 55.16 | 18.13 | 25.14 | 14.03 | 10.66 |
| EV/EBIT Ratio | 47.68 | 87.09 | 35.76 | 139.41 | 48.20 | 18.03 |
| EV/FCF Ratio | 102.39 | 86.33 | 68.17 | 75.47 | ||
| Debt / Equity Ratio | 0.32 | 0.32 | 0.46 | 0.54 | 0.62 | 0.56 |
| Debt / EBITDA Ratio | 2.39 | 2.39 | 3.39 | 5.85 | 4.42 | 3.31 |
| Debt / FCF Ratio | 20.20 | 21.63 | 22.68 | 24.63 | ||
| Net Debt / Equity Ratio | 0.14 | 0.14 | 0.35 | 0.42 | 0.51 | -0.03 |
| Net Debt / EBITDA Ratio | 1.10 | 1.10 | 2.73 | 4.95 | 3.81 | -0.21 |
| Net Debt / FCF Ratio | -1.53 | -1.53 | 15.39 | 16.98 | 18.53 | -1.46 |
| Asset Turnover | 0.43 | 0.43 | 0.40 | 0.33 | 0.48 | 0.46 |
| Inventory Turnover | 2.21 | 2.21 | 2.75 | 2.54 | 3.10 | 2.57 |
| Quick Ratio | 1.17 | 1.17 | 1.05 | 1.32 | 1.64 | 2.59 |
| Current Ratio | 2.43 | 2.43 | 2.19 | 2.72 | 3.02 | 3.40 |
| Return on Equity (ROE) | 7.98% | 7.98% | 0.37% | -2.09% | -4.47% | 5.51% |
| Return on Assets (ROA) | 3.39% | 3.39% | 2.35% | 0.55% | 1.62% | 3.61% |
| Return on Invested Capital (ROIC) | 6.74% | 6.90% | 1.55% | 1.11% | 3.70% | 8.31% |
| Return on Capital Employed (ROCE) | 5.80% | 5.80% | 4.20% | 0.90% | 2.20% | 6.30% |
| Earnings Yield | 1.96% | 1.04% | 0.36% | -1.41% | -3.65% | 4.33% |
| FCF Yield | -2.47% | -1.33% | 1.39% | 1.80% | 2.79% | 1.82% |
| Payout Ratio | 1.42% | 23.17% | 14.70% | |||
| Buyback Yield / Dilution | -26.26% | -26.26% | -2.05% | -10.22% | -18.08% | -1.29% |