COHR

MKT CAP:$53B

Coherent, Inc.

Market Cap

$53B

Technology·Hardware, Equipment & Parts·🇺🇸 United States·NYSE

Technology·Hardware,·🇺🇸·NYSE

Stock Price

$337.30+$142.97 (+73.57%)

Apr 24, 2026

Company Details

Coherent, Inc. provides lasers, laser-based technologies, and laser-based system solutions for a range of commercial, industrial, and scientific research applications. It operates in two segments, Original Equipment Manufacturers (OEM) Lase...

CEO

James Robert Anderson

IPO Date

Oct 2, 1987

Website

www.coherent.com

Key Metrics TTM

Revenue

$4.9B

+25.9% YoY

Net Income

-$288M

EPS (Diluted)

-$3.01

Free Cash Flow

$394M

Revenue / Share

$32.39

Gross Margin

30.6%

Operating Margin

2.0%

Net Margin

-5.9%

FCF Margin

8.1%

P/S

10.9x

P/E

—

Earnings Reports

Q2 2024

May 6, 2026

PENDING

FY 2024

Aug 16, 2024

$4.7B-8.8%EPS -$1.84

Q1 2024

Nov 7, 2023

$1.1B-21.7%EPS -$0.65

FY 2023

Aug 18, 2023

$5.2B+55.6%EPS -$2.93

Q4 2023

Aug 18, 2023

$1.2B+35.9%EPS -$1.54

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 20	$666M	$229M	$2M
Q3 20	$627M	$246M	$75M
Q4 20	$746M	$302M	$796.0K
Q1 21	$728M	$287M	$103M
Q2 21	$787M	$313M	$119M
Q3 21	$783M	$290M	$85M
Q4 21	$808M	$298M	$97M
Q1 22	$795M	$307M	$95M
Q2 22	$807M	$311M	$98M
Q3 22	$828M	$322M	$107M
Q4 22	$887M	$326M	$114M
Q1 23	$1.3B	$444M	$42M
Q2 23	$1.4B	$411M	$8M
Q3 23	$1.2B	$420M	$67M
Q4 23	$1.2B	$351M	$41M
Q1 24	$1.1B	$307M	-$18M

Valuation

Quarter	P/S	P/E
Q2 20	1.8x	—
Q3 20	1.3x	—
Q4 20	1.9x	—
Q1 21	1.5x	809.3x
Q2 21	2.8x	42.5x
Q3 21	2.3x	26.3x
Q4 21	2.6x	27.0x
Q1 22	2.0x	19.7x
Q2 22	2.4x	24.9x
Q3 22	2.4x	28.6x
Q4 22	2.0x	28.0x
Q1 23	1.3x	41.3x
Q2 23	1.2x	607.6x
Q3 23	1.1x	—
Q4 23	1.5x	—
Q1 24	1.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 20	$82M	$27M
Q3 20	$64M	$37M
Q4 20	$177M	$144M
Q1 21	$134M	$101M
Q2 21	$221M	$176M
Q3 21	$91M	$65M
Q4 21	$128M	$86M
Q1 22	$52M	$5M
Q2 22	$188M	$134M
Q3 22	$36M	-$58M
Q4 22	$137M	$19M
Q1 23	$80M	-$59M
Q2 23	$220M	$114M
Q3 23	$152M	$55M
Q4 23	$182M	$88M
Q1 24	$199M	$137M

Capital Expenditures

Quarter	CapEx
Q2 20	$55M
Q3 20	$28M
Q4 20	$33M
Q1 21	$34M
Q2 21	$46M
Q3 21	$26M
Q4 21	$41M
Q1 22	$48M
Q2 22	$54M
Q3 22	$94M
Q4 22	$118M
Q1 23	$139M
Q2 23	$107M
Q3 23	$97M
Q4 23	$93M
Q1 24	$62M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 20	+94.4%	+119.1%
Q3 20	+83.1%	+77.3%
Q4 20	+105.7%	+131.5%
Q1 21	+113.9%	+100.6%
Q2 21	+18.0%	+0.5%
Q3 21	+24.9%	+26.5%
Q4 21	+8.3%	-4.7%
Q1 22	+9.2%	+12.0%
Q2 22	+2.6%	+6.1%
Q3 22	+5.7%	+3.3%
Q4 22	+9.8%	+8.7%
Q1 23	+69.1%	+86.0%
Q2 23	+69.8%	+92.2%
Q3 23	+49.8%	+62.7%
Q4 23	+35.9%	+50.7%
Q1 24	-21.7%	-17.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 20	$19M	2.8%
Q3 20	$14M	2.3%
Q4 20	$24M	3.2%
Q1 21	$16M	2.2%
Q2 21	$22M	2.8%
Q3 21	$17M	2.1%
Q4 21	$17M	2.0%
Q1 22	$24M	3.0%
Q2 22	$18M	2.2%
Q3 22	$18M	2.1%
Q4 22	$16M	1.8%
Q1 23	$54M	4.0%
Q2 23	$35M	2.5%
Q3 23	$35M	2.8%
Q4 23	$25M	2.1%
Q1 24	$46M	4.4%

OpEx Breakdown

Quarter	R&D
Q2 20	$108M
Q3 20	$95M
Q4 20	$100M
Q1 21	$78M
Q2 21	$85M
Q3 21	$83M
Q4 21	$84M
Q1 22	$89M
Q2 22	$95M
Q3 22	$97M
Q4 22	$96M
Q1 23	$121M
Q2 23	$129M
Q3 23	$126M
Q4 23	$123M
Q1 24	$113M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$2.6B	$0	$2.6B
Q4 22	$2.6B	$0	$2.6B
Q1 23	$899M	$0	$899M
Q2 23	$913M	$0	$913M
Q3 23	$901M	$0	$901M
Q4 23	$821M	$0	$821M
Q1 24	$941M	$0	$941M
Q2 24	$856M	$0	$856M
Q3 24	$899M	$0	$899M
Q4 24	$926M	$0	$926M
Q1 25	$1.0B	$0	$1.0B
Q2 25	$918M	$0	$918M
Q3 25	$890M	$0	$890M
Q4 25	$909M	$0	$909M
Q1 26	$853M	$0	$853M
Q2 26	$864M	$0	$864M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 20	91M	+37.8%	+38.4%
Q3 20	93M	+2.8%	+42.2%
Q4 20	102M	+9.3%	+55.5%
Q1 21	105M	+3.0%	+59.5%
Q2 21	115M	+9.3%	+26.6%
Q3 21	116M	+1.1%	+24.5%
Q4 21	116M	-0.1%	+13.8%
Q1 22	116M	-0.3%	+10.1%
Q2 22	116M	+0.5%	+1.2%
Q3 22	117M	+0.4%	+0.6%
Q4 22	117M	0.0%	+0.6%
Q1 23	133M	+14.0%	+15.0%
Q2 23	139M	+4.0%	+19.1%
Q3 23	139M	+0.4%	+19.0%
Q4 23	139M	+0.2%	+19.1%
Q1 24	150M	+7.9%	+12.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 20	—	—
Q3 20	—	—
Q4 20	—	—
Q1 21	—	—
Q2 21	—	—
Q3 21	—	—
Q4 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	$44.6K	27K
Q1 24	$39.0K	27K

Revenue / Employee