Coherent, Inc. (COHR) Key Metrics
COHR valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $45.87B
- Enterprise value
- $62.34B
- P/E (TTM)
- 56.5 10-yr median 28.1
- Forward P/E
- 30.5
- PEG ratio
- 0.92
- Price / sales
- 6.4 10-yr median 2.3
- Price / book
- 5.6 10-yr median 2.0
- EV / EBITDA
- 40.0 10-yr median 14.1
- Dividend yield
- —
- Beta
- 2.11
COHR key metrics, FY2017–FY2026
Fiscal year ended June 30, 2026 · U.S. dollarsCOHR valuation Price multiples at each fiscal year-end price.
COHR returns How much profit the business earns on the capital it uses.
COHR per-share figures Results divided by the shares outstanding at year-end.
COHR financial health Debt, liquidity and how easily interest is covered.
COHR efficiency & capital use Working capital cycle and where the cash goes.
COHR valuation history
COHR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
COHR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
COHR cash returned to shareholders
COHR price vs earnings per share
COHR key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $77.07B | $13.81B | $10.98B | $7.01B | $5.94B | $8.35B | $4.01B | $2.41B | $2.83B | $2.21B |
| Enterprise value | $78.63B | $16.79B | $14.36B | $10.68B | $5.79B | $8.28B | $5.89B | $2.67B | $3.02B | $2.31B |
| P/E ratio | 95.7 | 279.8 | — | — | 25.3 | 28.1 | — | 22.4 | 32.2 | 23.2 |
| Price / sales | 10.8 | 2.4 | 2.3 | 1.4 | 1.8 | 2.7 | 1.7 | 1.8 | 2.4 | 2.3 |
| Price / book | 7.1 | 1.7 | 1.5 | 1.0 | 1.4 | 2.0 | 1.9 | 2.1 | 2.8 | 2.5 |
| Price / free cash flow | — | 71.6 | 55.2 | 35.4 | 60.0 | 19.5 | 25.0 | 58.2 | 373.6 | — |
| Price / operating cash flow | 969.3 | 21.8 | 20.1 | 11.1 | 14.4 | 14.5 | 13.5 | 13.5 | 17.6 | 18.7 |
| EV / sales | 11.0 | 2.9 | 3.1 | 2.1 | 1.7 | 2.7 | 2.5 | 2.0 | 2.6 | 2.4 |
| EV / EBITDA | 50.4 | 15.2 | 20.5 | 14.6 | 8.4 | 12.1 | 16.9 | 11.0 | 13.7 | 12.2 |
| EV / free cash flow | — | 87.1 | 72.2 | 54.0 | 58.5 | 19.4 | 36.7 | 64.5 | 398.9 | — |
| Earnings yield | 1.0% | 0.4% | −1.4% | −3.7% | 4.0% | 3.6% | −1.7% | 4.5% | 3.1% | 4.3% |
| Free cash flow yield | −1.3% | 1.4% | 1.8% | 2.8% | 1.7% | 5.1% | 4.0% | 1.7% | 0.3% | −0.9% |
| Dividend yield | 0.0% | 0.1% | 0.3% | 0.4% | 0.6% | 0.2% | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 0.0% | 0.5% | 0.5% | 1.2% | 0.9% | 0.5% | 0.0% | 0.1% | 1.8% | 0.2% |
| Share price at fiscal year-end | $394.47 | $89.21 | $72.46 | $50.98 | $50.95 | $72.59 | $47.22 | $36.56 | $43.45 | $34.30 |
| Per share | ||||||||||
| Revenue per share | $36.43 | $37.53 | $31.05 | $37.51 | $28.47 | $27.00 | $28.06 | $20.71 | $17.79 | $15.07 |
| Earnings per share | $4.12 | $0.32 | −$1.03 | −$1.89 | $2.01 | $2.59 | −$0.79 | $1.63 | $1.35 | $1.48 |
| Operating cash flow per share | $0.41 | $4.09 | $3.60 | $4.61 | $3.55 | $4.99 | $3.50 | $2.71 | $2.47 | $1.84 |
| Free cash flow per share | −$5.27 | $1.25 | $1.31 | $1.44 | $0.85 | $3.72 | $1.89 | $0.63 | $0.12 | −$0.31 |
| Cash per share | $10.17 | $5.87 | $6.11 | $5.97 | $22.16 | $13.84 | $5.81 | $3.11 | $3.79 | $4.21 |
| Book value per share | $55.80 | $52.51 | $49.97 | $52.54 | $37.62 | $35.92 | $24.48 | $17.22 | $15.73 | $13.96 |
| Tangible book value per share | $18.65 | $2.92 | −$2.59 | −$7.98 | $21.13 | $18.40 | $0.94 | $10.24 | $9.65 | $8.00 |
| Dividends per share | $0.06 | $0.07 | $0.23 | $0.20 | $0.30 | $0.18 | — | — | — | — |
| Capex per share | $5.68 | $2.85 | $2.29 | $3.17 | $2.70 | $1.27 | $1.61 | $2.08 | $2.36 | $2.15 |
| Debt per share | $18.11 | $25.15 | $28.38 | $32.63 | $20.93 | $13.27 | $27.99 | $7.10 | $6.74 | $5.67 |
| Shares outstanding | 195.4M | 154.8M | 151.6M | 137.6M | 116.5M | 115.0M | 84.8M | 65.8M | 65.1M | 64.5M |
| Change in shares outstanding | +26.2% | +2.1% | +10.2% | +18.1% | +1.3% | +35.6% | +28.9% | +1.0% | +1.0% | +2.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 8.5% | 0.6% | −2.1% | −4.5% | 5.5% | 9.6% | −4.2% | 10.0% | 9.1% | 11.3% |
| Return on invested capital (ROIC) | 7.1% | 2.5% | 0.9% | 0.5% | 8.3% | 8.5% | 3.8% | 9.5% | 8.9% | 11.2% |
| Return on assets (ROA) | 4.8% | 0.3% | −1.1% | −2.4% | 3.3% | 5.1% | −1.9% | 5.8% | 5.4% | 7.1% |
| Return on tangible assets | 7.3% | 0.7% | −2.4% | −4.8% | 4.0% | 6.6% | −2.1% | 7.2% | 6.4% | 8.7% |
| Free cash flow margin | −14.5% | 3.3% | 4.2% | 3.8% | 3.0% | 13.8% | 6.7% | 3.0% | 0.7% | −2.0% |
| Income quality (OCF / net income) | 0.10 | 12.84 | — | — | 1.76 | 1.93 | — | 1.66 | 1.83 | 1.24 |
| Financial health | ||||||||||
| Total debt | $3.54B | $3.89B | $4.30B | $4.49B | $2.44B | $1.53B | $2.37B | $467.0M | $439.0M | $365.4M |
| Cash & short-term investments | $1.99B | $909.2M | $926.0M | $821.3M | $2.58B | $1.59B | $493.0M | $204.9M | $247.0M | $271.9M |
| Net debt | $1.55B | $2.98B | $3.38B | $3.67B | −$144.2M | −$65.9M | $1.88B | $262.1M | $192.0M | $93.5M |
| Debt / equity | 0.32 | 0.48 | 0.57 | 0.62 | 0.56 | 0.37 | 1.14 | 0.41 | 0.43 | 0.41 |
| Debt / assets | 0.19 | 0.26 | 0.30 | 0.33 | 0.31 | 0.23 | 0.45 | 0.24 | 0.25 | 0.25 |
| Net debt / EBITDA | 0.99 | 2.70 | 4.82 | 5.01 | −0.21 | −0.10 | 5.41 | 1.08 | 0.87 | 0.49 |
| Current ratio | 2.43 | 2.19 | 2.72 | 3.01 | 3.40 | 4.15 | 2.66 | 3.00 | 3.22 | 3.80 |
| Quick ratio | 1.52 | 1.39 | 1.77 | 1.84 | 2.69 | 3.20 | 1.74 | 1.91 | 2.17 | 2.70 |
| Interest coverage | 4.7 | 2.3 | 0.4 | 0.2 | 3.4 | 6.7 | 1.4 | 6.6 | 7.5 | 18.4 |
| Working capital | $4.07B | $2.13B | $2.32B | $2.17B | $3.04B | $2.30B | $1.12B | $542.3M | $525.4M | $517.3M |
| Invested capital | $12.45B | $11.11B | $10.95B | $10.90B | $4.24B | $4.07B | $3.96B | $1.40B | $1.22B | $994.1M |
| Tangible asset value | $3.98B | $805.5M | −$21.3M | −$1.10B | $2.46B | $2.12B | $79.4M | $674.1M | $628.6M | $516.3M |
| Net current asset value | −$136.2M | −$2.50B | −$2.88B | −$3.23B | $843.6M | $647.1M | −$1.37B | −$7.7M | $24.5M | $125.6M |
| Graham number | $71.92 | $19.41 | — | — | $41.30 | $45.72 | — | $25.16 | $21.87 | $21.54 |
| Graham net-net per share | −$14.21 | −$26.08 | −$28.61 | −$31.61 | $0.84 | $0.47 | −$22.47 | −$4.03 | −$3.15 | −$0.90 |
| Capital allocation | ||||||||||
| Dividends paid | $11.4M | $11.4M | $34.5M | $27.6M | $34.5M | $20.3M | — | — | — | — |
| Share buybacks (net) | — | $54.0M | $22.3M | $54.2M | $21.2M | $19.7M | $1.6M | $1.6M | $49.9M | $4.1M |
| Dividend payout ratio | 1.4% | 23.2% | — | — | 14.7% | 6.8% | — | — | — | — |
| Dividends + buybacks / free cash flow | — | 33.9% | 28.6% | 41.3% | 56.3% | 9.4% | 1.0% | 3.9% | 658.3% | — |
| Capex / revenue | 15.6% | 7.6% | 7.4% | 8.5% | 9.5% | 4.7% | 5.8% | 10.1% | 13.2% | 14.3% |
| Capex / operating cash flow | 1,396.1% | 69.6% | 63.6% | 68.8% | 76.0% | 25.5% | 46.0% | 76.8% | 95.3% | 116.8% |
| Capex / depreciation | 2.13 | 0.80 | 0.62 | 0.64 | 1.10 | 0.54 | 0.62 | 1.48 | 1.90 | 2.18 |
| Stock-based compensation / revenue | 2.6% | 2.8% | 2.7% | 2.9% | 2.2% | 2.3% | 2.9% | 1.6% | 1.3% | 1.2% |
| R&D / revenue | 10.2% | 10.0% | 10.2% | 9.7% | 11.4% | 10.6% | 14.2% | 10.2% | 10.1% | 10.0% |
| SG&A / revenue | 14.7% | 15.9% | 18.1% | 20.1% | 14.3% | 14.3% | 17.3% | — | — | 30.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 60.6 | 58.7 | 67.8 | 56.7 | 74.8 | 73.9 | 66.5 | 64.9 | 64.3 | 67.3 |
| Days of inventory on hand | 164.8 | 132.5 | 143.6 | 112.1 | 142.2 | 124.5 | 111.4 | 118.1 | 118.4 | 118.4 |
| Days payables outstanding | 112.9 | 71.9 | 58.2 | 43.3 | 64.9 | 53.3 | 45.4 | 42.1 | 40.7 | 37.3 |
| Cash conversion cycle (days) | 112.5 | 119.3 | 153.3 | 125.4 | 152.1 | 145.1 | 132.5 | 140.9 | 142.0 | 148.4 |
| Receivables turnover | 6.02 | 6.22 | 5.38 | 6.44 | 4.88 | 4.94 | 5.49 | 5.62 | 5.67 | 5.43 |
| Payables turnover | 3.23 | 5.08 | 6.27 | 8.43 | 5.62 | 6.85 | 8.04 | 8.66 | 8.97 | 9.78 |
| Inventory turnover | 2.21 | 2.76 | 2.54 | 3.26 | 2.57 | 2.93 | 3.28 | 3.09 | 3.08 | 3.08 |
| Asset turnover | 0.43 | 0.40 | 0.33 | 0.48 | 0.46 | 0.53 | 0.66 | 0.73 | 0.72 | 0.72 |
| Average receivables | $1.18B | $934.2M | $875.0M | $800.9M | $679.6M | $628.5M | $433.9M | $242.3M | $204.2M | $179.1M |
| Average payables | $1.38B | $739.3M | $518.4M | $420.1M | $364.7M | $281.6M | $186.6M | $97.1M | $77.7M | $59.7M |
| Average inventory | $2.01B | $1.36B | $1.28B | $1.09B | $799.2M | $657.8M | $458.0M | $272.3M | $226.0M | $189.4M |
| Intangibles / total assets | 39.7% | 51.5% | 55.0% | 60.7% | 24.5% | 30.9% | 38.2% | 23.5% | 22.5% | 26.0% |
Computed from COHR's annual financial statements (latest annual report filed August 14, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
COHR valuation and financial ratios
At the end of fiscal 2026 (June 30, 2026), Coherent traded at 95.7 times earnings, against a 10-year median of 28.1. Based on the latest twelve months, the trailing P/E is 56.5 and the forward P/E is 30.5. Coherent earned a return on equity of 8.5% and a return on invested capital of 7.1% in fiscal 2026. It ended the year with $3.5 billion of debt and $2.0 billion in cash and short-term investments, net debt of $1.6 billion. It returned $11.4 million to shareholders: $11.4 million in dividends and $0 in share buybacks. The share count rose 202.9% from 64.5M to 195.4M over 9 years.
See the COHR income statement, the COHR chart for price history, or the COHR stock overview for the latest quote and news.
COHR key metrics FAQ
What is Coherent's P/E ratio?
Coherent's trailing P/E ratio is 56.5 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 30.5. At the end of fiscal 2026 it was 95.7, compared with a 10-year median of 28.1.
What is Coherent's EV/EBITDA?
Coherent's enterprise value was 50.4 times EBITDA at the end of fiscal 2026 (enterprise value $78.6 billion, EBITDA $1.6 billion); the current EV/EBITDA is 40.0.
What is Coherent's return on equity?
Coherent's return on equity (ROE) was 8.5% in fiscal 2026: net income of $805.0 million on average shareholders' equity of $9.5 billion.
What is Coherent's ROIC?
Coherent's return on invested capital was 7.1% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Coherent have?
Coherent had total debt of $3.5 billion at the end of fiscal 2026, a debt-to-equity ratio of 0.32 and $1.6 billion of net debt (0.99 times EBITDA).
What is Coherent's dividend yield?
Coherent paid $11.4 million in dividends in fiscal 2026 ($0.06 per share), a payout ratio of 1.4%.
What is Coherent's free cash flow yield?
Coherent generated -$1.0 billion of free cash flow in fiscal 2026, a free cash flow yield of −1.3% on its market value at year-end ($77.1 billion).
What is Coherent's current ratio?
Coherent's current ratio was 2.43 at the end of fiscal 2026: current assets were 2.43 times current liabilities.