COHRNYSEOptical Instruments & LensesFiscal year ends June 30
COHERENT CORP.
Financials through Q4 FY2026, quarter ended Jun 30, 2026Last filing: 10-K on Aug 14, 2026
$232.02−0.88 (-0.38%)
Close on Oct 19, 2026
- Market cap
- $46.91B
- P/E (TTM)
- 56.3
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
37.5%−0.4 pts over 5 years
Operating margin
–
Net margin
11.3%+1.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +22.5% | +11.3% | +18.0% | +24.0% | |
| Gross profit | +30.6% | +18.1% | +17.8% | +23.9% | |
| Net income | +1530.7% | – | +22.0% | +28.5% | |
| EPS, diluted | – | – | +11.7% | +14.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 11.3% | 10.9% | 9.7% | |
| Return on assets | 7.1% | 5.1% | 4.8% | |
| Current ratio | 3.80 | 4.15 | 2.43 | |
| Debt to equity | 0.38 | 0.40 | 0.30 | |
| Net debt to EBITDA | 0.39× | -0.32× | – | |
| Interest coverage | 17.0× | 6.7× | – | |
| Inventory turnover | 3.1× | 2.9× | 2.2× | |
| Capex to revenue | 14.3% | 4.7% | 15.5% | |
| Diluted shares | 65M | 115M | 195M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Coherent generated $2.31B from operations and spent $2.64B on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$2.31B
Used
$2.64B
Capital expenditure$2.64B100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin11.3%
×Asset turnover0.43×
×Equity multiplier2.01×
=Return on equity, FY20269.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 11.3% | 0.43× | 2.01× | 9.7% |
| FY2025 | 0.8% | 0.40× | 2.71× | 0.9% |
| FY2024 | -3.3% | 0.33× | 2.77× | -3.1% |
| FY2023 | -5.0% | 0.48× | 2.51× | -6.0% |
| FY2022 | 7.1% | 0.46× | 2.04× | 6.7% |
| FY2021 | 9.6% | 0.53× | 2.14× | 10.9% |
| FY2020 | -2.8% | 0.66× | 2.24× | -4.2% |
| FY2019 | 7.9% | 0.73× | 1.72× | 10.0% |
| FY2018 | 7.6% | 0.72× | 1.68× | 9.1% |
| FY2017 | 9.8% | 0.72× | 1.60× | 11.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
7of 9 tests passed in fiscal 2026. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$805.00M
- Cash generatingOperating cash flow above zero$79.51M
- Return on assets improvedROA up on the prior year0.3% → 5.4%
- Earnings backed by cashOperating cash flow above net income$79.51M vs $805.00M
- Less leverageLong-term debt to assets fell23.5% → 17.6%
- Better liquidityCurrent ratio rose2.19 → 2.43
- No dilutionShare count did not rise155M → 195M
- Gross margin improvedGross margin up on the prior year35.17% → 37.50%
- More efficientAsset turnover rose0.40 → 0.48