Coherent, Inc. (COHR) Financial Ratios
30 years of historical data (1996–2025) · Technology · Hardware, Equipment & Parts
EV/EBITDA
↑
58.74
↑+332% vs avg
5yr avg: 13.59
30Y Low4.7·High21.0
P/FCF
↑
320.48
↑+563% vs avg
5yr avg: 48.35
30Y Low12.6·High138.3
P/B Ratio
↓
7.11
↑+383% vs avg
5yr avg: 1.47
30Y Low1.0·High5.1
ROE
↓
0.6%
↑-67% vs avg
5yr avg: 1.8%
30Y Low-4%·High25%
Debt/EBITDA
↑
3.53
↓-13% vs avg
5yr avg: 4.05
30Y Low0.0·High6.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
COHR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Coherent, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 320.5x P/FCF, 563% above the 5-year average of 48.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $61.8B | $13.8B | $11.0B | $7.0B | $5.9B | $8.4B | $4.0B | $2.4B | $2.8B | $2.2B | $1.2B |
| Enterprise Value | $64.8B | $16.8B | $14.4B | $10.7B | $5.8B | $8.3B | $5.9B | $2.7B | $3.0B | $2.3B | $1.2B |
| P/E Ratio → | -749.17 | — | — | — | 35.14 | 30.63 | — | 22.43 | 32.19 | 23.18 | 18.04 |
| P/S Ratio | 10.63 | 2.38 | 2.33 | 1.36 | 1.79 | 2.69 | 1.68 | 1.77 | 2.44 | 2.28 | 1.43 |
| P/B Ratio | 7.11 | 1.63 | 1.38 | 0.97 | 1.35 | 2.02 | 1.93 | 2.12 | 2.76 | 2.46 | 1.51 |
| P/FCF | 320.48 | 71.64 | 55.22 | 35.43 | 59.96 | 19.51 | 24.97 | 58.18 | 373.55 | — | 18.21 |
| P/OCF | 97.50 | 21.80 | 20.13 | 11.06 | 14.36 | 14.54 | 13.47 | 13.48 | 17.58 | 18.65 | 9.60 |
P/E links to full P/E history page with 30-year chart
COHR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Coherent, Inc.'s enterprise value stands at 58.7x EBITDA, 332% above its 5-year average of 13.6x. The Technology sector median is 16.7x, placing the stock at a 251% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.89 | 3.05 | 2.07 | 1.75 | 2.67 | 2.47 | 1.96 | 2.61 | 2.37 | 1.45 |
| EV / EBITDA | 58.74 | 15.23 | 21.03 | 11.11 | 8.26 | 12.32 | 16.91 | 11.07 | 13.89 | 12.87 | 8.06 |
| EV / EBIT | 117.97 | 30.43 | 116.60 | 38.15 | 14.37 | 20.60 | 46.29 | 17.64 | 21.50 | 18.36 | 12.87 |
| EV / FCF | — | 87.12 | 72.20 | 53.96 | 58.51 | 19.36 | 36.70 | 64.52 | 398.89 | — | 18.47 |
COHR Profitability
Margins and return-on-capital ratios measuring operating efficiency
Coherent, Inc. earns an operating margin of 9.4%. Operating margins have expanded from 5.4% to 9.4% over the past 3 years, signaling improving operational efficiency. ROE of 0.6% is modest. ROIC of 3.6% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.4% | 35.4% | 30.9% | 34.6% | 38.2% | 37.9% | 36.9% | 38.3% | 39.9% | 40.0% | 37.8% |
| Operating Margin | 9.4% | 9.4% | 2.6% | 5.4% | 12.5% | 12.9% | 5.3% | 10.9% | 11.8% | 11.9% | 11.1% |
| Net Profit Margin | 0.8% | 0.8% | -3.3% | -5.0% | 7.1% | 9.6% | -2.8% | 7.9% | 7.6% | 9.8% | 7.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.6% | 0.6% | -2.1% | -4.5% | 5.5% | 9.6% | -4.2% | 10.0% | 9.1% | 11.3% | 8.7% |
| ROA | 0.3% | 0.3% | -1.1% | -2.4% | 3.3% | 5.1% | -1.9% | 5.8% | 5.4% | 7.1% | 5.8% |
| ROIC | 3.6% | 3.6% | 0.8% | 2.8% | 7.5% | 7.5% | 3.6% | 8.5% | 9.3% | 9.7% | 9.0% |
| ROCE | 4.2% | 4.2% | 1.0% | 2.9% | 6.7% | 7.8% | 4.1% | 9.3% | 9.7% | 9.9% | 9.4% |
COHR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Coherent, Inc. carries a Debt/EBITDA ratio of 3.5x, which is moderately leveraged (20% above the sector average of 2.9x). Net debt stands at $3.0B ($3.9B total debt minus $909M cash). Interest coverage of just 2.3x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.46 | 0.46 | 0.54 | 0.62 | 0.56 | 0.37 | 1.14 | 0.41 | 0.43 | 0.41 | 0.30 |
| Debt / EBITDA | 3.53 | 3.53 | 6.30 | 4.67 | 3.48 | 2.27 | 6.82 | 1.94 | 2.02 | 2.04 | 1.58 |
| Net Debt / Equity | — | 0.35 | 0.42 | 0.51 | -0.03 | -0.02 | 0.91 | 0.23 | 0.19 | 0.10 | 0.02 |
| Net Debt / EBITDA | 2.71 | 2.71 | 4.95 | 3.81 | -0.21 | -0.10 | 5.41 | 1.09 | 0.88 | 0.52 | 0.11 |
| Debt / FCF | — | 15.48 | 16.98 | 18.53 | -1.46 | -0.15 | 11.73 | 6.34 | 25.34 | — | 0.26 |
| Interest Coverage | 2.27 | 2.27 | 0.43 | 0.98 | 3.32 | 6.71 | 1.42 | 6.75 | 7.66 | 18.45 | 30.20 |
COHR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Coherent, Inc.'s current ratio of 2.19x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.39x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 3.01x to 2.19x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.19 | 2.19 | 2.72 | 3.01 | 3.40 | 4.15 | 2.66 | 3.00 | 3.22 | 3.80 | 3.40 |
| Quick Ratio | 1.39 | 1.39 | 1.77 | 1.84 | 2.69 | 3.20 | 1.74 | 1.91 | 2.17 | 2.70 | 2.38 |
| Cash Ratio | 0.51 | 0.51 | 0.69 | 0.76 | 2.04 | 2.18 | 0.73 | 0.76 | 1.04 | 1.47 | 1.28 |
| Asset Turnover | — | 0.39 | 0.32 | 0.38 | 0.42 | 0.48 | 0.45 | 0.70 | 0.66 | 0.66 | 0.68 |
| Inventory Turnover | 2.61 | 2.61 | 2.53 | 2.65 | 2.27 | 2.77 | 2.42 | 2.84 | 2.81 | 2.87 | 2.94 |
| Days Sales Outstanding | — | 64.07 | 65.79 | 63.77 | 77.07 | 77.44 | 91.73 | 72.23 | 67.73 | 72.61 | 72.72 |
COHR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Coherent, Inc. returns 0.1% to shareholders annually — split between a 0.0% dividend yield and 0.1% buyback yield. The payout ratio of 23.2% is conservative, leaving significant room for dividend growth or reinvestment.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.0% | 0.1% | — | 0.4% | 0.6% | 0.2% | — | — | — | — | — |
| Payout Ratio | 23.2% | 23.2% | — | — | 14.7% | 6.8% | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 2.8% | 3.3% | — | 4.5% | 3.1% | 4.3% | 5.5% |
| FCF Yield | 0.3% | 1.4% | 1.8% | 2.8% | 1.7% | 5.1% | 4.0% | 1.7% | 0.3% | — | 5.5% |
| Buyback Yield | 0.1% | 0.4% | 0.2% | 0.8% | 0.4% | 0.0% | 0.0% | 0.1% | 1.8% | 0.2% | 0.5% |
| Total Shareholder Yield | 0.1% | 0.5% | 0.2% | 1.2% | 0.9% | 0.2% | 0.0% | 0.1% | 1.8% | 0.2% | 0.5% |
| Shares Outstanding | — | $155M | $152M | $138M | $117M | $115M | $85M | $66M | $65M | $65M | $63M |
Peer Comparison
Compare COHR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 COHRYou | $62B | -749.2 | 58.7 | 320.5 | 35.4% | 9.4% | 0.6% | 3.6% | 3.5 |
 LITE | $61B | 2297.3 | 819.5 | — | 28.0% | -10.9% | 2.5% | -4.3% | 34.0 |
 VIAV | $11B | 314.5 | 83.7 | 176.0 | 56.8% | 6.5% | 4.8% | 5.5% | 5.2 |
 IPGP | $5B | 161.7 | 57.6 | — | 38.0% | 1.3% | 1.5% | 0.6% | — |
 MKSI | $27B | 93.0 | 34.5 | 55.0 | 40.4% | 14.4% | 11.7% | 6.5% | 5.2 |
 AAOI | $13B | -252.9 | — | — | 30.0% | -12.0% | -7.9% | -7.9% | — |
 CIEN | $61B | 503.8 | 135.5 | 91.1 | 42.0% | 6.5% | 4.4% | 6.9% | 3.5 |
 ACMR | $7B | 80.2 | 54.2 | — | 44.4% | 12.1% | 6.2% | 7.0% | 2.4 |
 CSCO | $471B | 46.9 | 33.6 | 35.5 | 64.9% | 20.8% | 22.1% | 13.0% | 1.9 |
 ANET | $214B | 61.7 | 53.9 | 50.2 | 64.1% | 42.8% | 31.4% | 32.8% | — |
 NVDA | $5.1T | 43.0 | 38.3 | 52.8 | 71.1% | 60.4% | 101.5% | 81.8% | 0.1 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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COHR — Frequently Asked Questions
Quick answers to the most common questions about buying COHR stock.
What is Coherent, Inc.'s P/E ratio?
Coherent, Inc.'s current P/E ratio is -749.2x. The historical average is 24.9x.
What is Coherent, Inc.'s EV/EBITDA?
Coherent, Inc.'s current EV/EBITDA is 58.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.7x.
What is Coherent, Inc.'s ROE?
Coherent, Inc.'s return on equity (ROE) is 0.6%. The historical average is 10.1%.
Is COHR stock overvalued?
Based on historical data, Coherent, Inc. is trading at a P/E of -749.2x. Compare with industry peers and growth rates for a complete picture.
What is Coherent, Inc.'s dividend yield?
Coherent, Inc.'s current dividend yield is 0.02% with a payout ratio of 23.2%.
What are Coherent, Inc.'s profit margins?
Coherent, Inc. has 35.4% gross margin and 9.4% operating margin.
How much debt does Coherent, Inc. have?
Coherent, Inc.'s Debt/EBITDA ratio is 3.5x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.