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COHRCoherent Corp.

Technology · Optical Instruments · NYSE

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FY2026 at a glance

Sales up 22.5%, free cash flow down to -$1.0B

XBRL, from each 10-K

RevenueStatements ↓

$7.1B

from $5.8B in FY2025

FY2017FY2026

Net incomeStatements ↓

$805.0M

from $49.4M in FY2025

FY2017FY2026

Free cash flowStatements ↓

-$1.0B

from $192.8M in FY2025

FY2017FY2026

EPS (diluted)Statements ↓

$4.12

from $-0.52 in FY2025

FY2017FY2026

Total debtStatements ↓

$3.2B

from $3.7B in FY2025

FY2017FY2026

Price and key numbers

The latest figures

All key numbers (36, from the latest 10-K and 10-Q) From EDGAR

EPS (ttm)	4.83	Sales (ttm)	7.9B	Net income (ttm)	963.3M	Sales growth	+22.5%	EPS growth	-	Sales Q/Q	+49.9%
Free cash flow	-1.8B	Gross margin	38.2%	Oper. margin	-	Net margin	12.2%	FCF margin	-23.2%	ROE	8.5%
ROA	4.8%	R&D / sales	10.2%	Dividend	-	Debt/Eq	0.35	Curr. ratio	2.29	Cash	1.6B
Op. cash flow (ttm)	-59.1M	Net debt	2.4B	Quick ratio	1.55	Tax rate	7.2%	Stock pay / sales	2.6%	Shares out.	197.0M
Shares Y/Y	+26.3%	Book / share	57.52	Cash / share	7.88	Sales / share	40.15	Asset turnover	0.39	Inventory turns	1.72
Days sales out.	69	Sales 3Y CAGR	+11.3%	Sales 5Y CAGR	+18.0%	EPS 5Y CAGR	+11.7%	Employees	51,000	Sales / employee	155K

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2026 against FY2025

Free cash flow turned negative$192.8M → −$1.0B · Cash from operations − capital expenditure · 10-K ↗

What management wrote about it → · Every company →

COHR against Technology peers

Ten years, side by side → · All 75 →

COHRPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 75 companies, the better end on the right. Hover a dot for the company.

Sales growth

+22.5%21st of 75 · median +14.1%

Net margin

12.2%50th of 75 · median 19.1%

Return on equity

8.5%59th of 69 · median 23.9%

Free cash flow margin

-23.2%70th of 71 · median 22.3%

Debt / equity (less is better)

0.3522nd of 61 · median 0.46

COHR and the 5 peers closest in revenue
Company	Revenue (ttm)	Sales growth	Gross margin	Net margin	ROE	FCF margin	Debt / equity
COHR Coherent Corp.	$7.9B	+22.5%	38.2%	12.2%	8.5%	-23.2%	0.35
ROP Roper Technologies	$8.4B	+12.3%	69.7%	30.7%	13.5%	-	0.51
FTNT Fortinet	$7.9B	+14.2%	79.7%	29.0%	101.6%	42.2%	0.22
ADSK Autodesk	$7.8B	+17.5%	91.2%	21.1%	48.5%	36.4%	1.03
NTAP NetApp	$7.4B	+5.4%	70.6%	19.2%	94.8%	22.3%	1.66
PLTR Palantir Technologies	$7.3B	+56.2%	84.7%	50.3%	32.7%	55.6%	-

Where each dollar goes

FY2022FY2025FY2026

From $3.3B of sales to $234.8M of profit

FY2022, from the 10-K income statement

Swipe sideways for the whole flow →

From $5.8B of sales to $49.4M of profit

FY2025, from the 10-K income statement

Swipe sideways for the whole flow →

From $7.1B of sales to $805.0M of profit

FY2026, from the 10-K income statement and revenue by segment

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2022

$62$11$14$7

FY2025

$65$34

FY2026

$63$26$11

Cost of revenue
R&D
Costs, tax, other
Tax & other
Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

0 of 3

!
Net margin below the peer median12.2% vs 19.1%
!
Return on equity below 15%8.5%
!
A profit in 7 of 10 years

Net margin, FY2017 to FY2026: 9.8% → 11.3%

Balance sheet

2 of 2

✓
Debt smaller than equityDebt / equity 0.35 on the latest balance sheet (peer median 0.46)
✓
Current assets cover current liabilitiesCurrent ratio 2.29

Debt / equity at each year end, FY2017 to FY2026: 0.38 → 0.30

What the debt is made of ↓

Cash and shareholders

0 of 3

!
Free cash flow positive in 8 of 10 years−$1.0B last year
!
Share count up over 5 years+69.9%
!
Cash from operations below net income$79.5M vs $805.0M

Free cash flow, FY2017 to FY2026: -19.9M → -1.0B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$3.3B of principal due, schedule of Jun 30, 2026

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2017 to FY2026

Revenue 7.1B Net income 805.0M

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

COHR's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly

Revenue7.1B

Net income805.0M

Free cash flow-1.0B

EPS (diluted)4.12

Diluted shares195.4M

The segments changed

10-K filed 2026-08-14

Compared with the 10-K of Aug 15, 2025: new segments Datacenter & Communications, Industrial; no longer reported: Lasers, Materials, Networking.

Effective July 1, 2025, the Company realigned its organizational structure and now identifies multiple operating segments, which are aggregated into two reportable segments: (i) Datacenter & Communications, and (ii) Industrial. 10-K

When a company changes its segments, the years before are usually recast, so growth by segment is not comparable with what earlier 10-Ks showed. Found by comparing the segments with revenue in the last two 10-Ks (XBRL) and by the 10-K's own words, without AI.

Revenue by business segment

year to Jun 30, 2026

	Revenue	Share	vs year before
Datacenter & Communications	5.3B	74.1%	+40.5%
Industrial	1.8B	25.9%	-10.3%

10-K 0000820318-26-000020, segment and revenue notes (XBRL).

Revenue by region

year to Jun 30, 2026

	Revenue	Share	vs year before
North America	4.6B	65.1%	+30.0%
Europe	814.2M	11.4%	+16.5%
China	813.4M	11.4%	+19.6%
Rest of World	466.6M	6.6%	-1.9%
Japan	390.4M	5.5%	-0.1%

10-K 0000820318-26-000020, segment and revenue notes (XBRL).

Income statement

From EDGAR

	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	972.0M	1.2B	1.4B	2.4B	3.1B	3.3B	5.2B	4.7B	5.8B	7.1B
Cost of revenue	583.7M	696.6M	841.1M	1.6B	1.9B	2.1B	3.5B	3.3B	3.8B	4.4B
R&D	96.8M	116.9M	139.2M	339.1M	330.1M	377.1M	499.6M	478.8M	581.9M	723.0M
SG&A	176.0M	208.6M	233.5M	412.6M	445.2M	474.1M	1.0B	854.0M	926.5M	1.0B
Operating income	115.6M	136.8M	148.7M	39.5M	402.1M	414.3M	-37.1M	96.1M	-	-
Interest expense	6.8M	18.4M	22.4M	89.4M	59.9M	121.3M	286.9M	312.9M	256.7M	189.3M
Pretax income	118.8M	122.2M	128.8M	-63.9M	352.6M	281.8M	-355.6M	-147.6M	94.2M	847.7M
Income tax	23.5M	34.2M	21.3M	3.1M	55.0M	47.0M	-96.1M	11.1M	64.1M	60.8M
Net income	95.3M	88.0M	107.5M	-67.0M	297.6M	234.8M	-259.5M	-156.2M	49.4M	805.0M
EPS (diluted)	1.48	1.35	1.63	-0.79	2.37	1.45	-2.93	-1.84	-0.52	4.12
Diluted shares	64.5M	65.1M	65.8M	84.8M	115.0M	116.5M	137.6M	151.6M	154.8M	195.4M
Depreciation & amortization	63.6M	80.8M	92.4M	220.9M	270.1M	286.8M	681.7B	559.8M	553.6M	521.9M
EBITDA	179.2M	217.5M	241.0M	260.4M	672.2M	701.1M	681.6B	655.9M	-	-
Operating margin	11.9%	11.8%	10.9%	1.7%	12.9%	12.5%	-0.7%	2.0%	-	-
Net margin	9.8%	7.6%	7.9%	-2.8%	9.6%	7.1%	-5.0%	-3.3%	0.8%	11.3%
Revenue growth	-	+19.2%	+17.6%	+74.7%	+30.5%	+6.8%	+55.6%	-8.8%	+23.4%	+22.5%
EPS growth	-	-8.8%	+20.7%	-148%	-	-38.8%	-302%	-	-	-

Balance sheet

From EDGAR

	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025	FY2026
Cash	271.9M	247.0M	204.9M	493.0M	1.6B	2.6B	821.3M	926.0M	909.2M	1.2B
Short-term investments	-	-	-	-	-	-	-	-	0	825.0M
Receivables	193.4M	215.0M	269.6M	598.1M	659.0M	700.3M	901.5M	848.5M	964.1M	1.3B
Inventory	203.7M	248.3M	296.3M	619.8M	695.8M	902.6M	1.3B	1.3B	1.4B	2.6B
Current assets	702.3M	761.8M	812.9M	1.8B	3.0B	4.3B	3.3B	3.7B	3.9B	6.9B
Property & equipment	367.7M	524.9M	582.8M	-	-	-	-	-	1.9B	3.0B
Goodwill	250.3M	270.7M	319.8M	1.2B	1.3B	1.3B	4.5B	4.5B	4.5B	4.4B
Total assets	1.5B	1.8B	2.0B	5.2B	6.5B	7.8B	13.7B	14.5B	14.9B	18.3B
Accounts payable	65.5M	89.8M	104.5M	268.8M	294.5M	434.9M	405.3M	631.5M	847.0M	1.9B
Current liabilities	185.0M	236.5M	270.6M	672.9M	729.6M	1.3B	1.1B	1.3B	1.8B	2.9B
Total debt	342.0M	439.0M	467.0M	2.3B	1.4B	2.3B	4.3B	4.1B	3.7B	3.2B
Total liabilities	576.7M	737.4M	820.6M	3.2B	2.4B	3.5B	6.5B	6.5B	6.4B	7.1B
Shareholders' equity	900.6M	1.0B	1.1B	2.1B	3.4B	3.6B	5.0B	5.2B	5.6B	10.9B
Retained earnings	748.1M	836.1M	943.6M	876.6M	1.1B	1.3B	944.4M	664.9M	584.4M	1.4B

Cash flow

From EDGAR

	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025	FY2026
Operating cash flow	118.6M	161.0M	178.5M	297.3M	574.4M	413.3M	634.0M	545.7M	633.6M	79.5M
Capital spending	138.5M	153.4M	137.1M	136.9M	146.3M	314.3M	436.1M	346.8M	440.8M	1.1B
Free cash flow	-19.9M	7.6M	41.4M	160.4M	428.0M	99.0M	198.0M	198.9M	192.8M	-1.0B
Stock-based pay (added back)	11.8M	15.3M	21.9M	68.5M	71.0M	73.2M	148.9M	126.0M	160.2M	186.5M
Buybacks	-	49.9M	1.6M	1.6M	0	0	-	-	-	-
Acquisitions	40.0M	80.5M	83.1M	1.0B	34.4M	0	5.5B	0	0	-
Debt raised	129.0M	-	-	0	0	990.0M	0	0	-	-
Debt repaid	25.0M	-	-	-	851.6M	62.0M	1.3B	228.8M	437.0M	1.7B
Investing cash flow	-177.2M	-284.9M	-224.0M	-1.2B	-173.0M	-320.1M	-5.9B	-350.7M	-414.2M	-1.4B
Financing cash flow	111.6M	97.0M	4.9M	1.2B	675.7M	863.0M	3.6B	758.3M	-451.7M	1.5B

Stock-based pay and leases

From EDGAR

	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025	FY2026
Stock-based pay (expense)	11.8M	15.3M	21.9M	68.5M	71.0M	73.2M	148.9M	126.0M	160.2M	186.5M
Stock-based pay / revenue	1.2%	1.3%	1.6%	2.9%	2.3%	2.2%	2.9%	2.7%	2.8%	2.6%
Operating lease cost	-	-	-	32.5M	37.4M	36.7M	53.1M	52.9M	59.2M	64.0M
Operating lease cash paid	-	-	-	30.8M	35.6M	35.5M	50.5M	50.7M	58.1M	63.0M
Finance lease principal paid	-	-	-	1.0M	1.2M	1.3M	1.4M	1.6M	1.7M	1.9M
Right-of-use assets	-	-	80.1M	-	-	-	-	-	-	-
Operating lease liabilities	-	-	80.1M	119.3M	150.9M	137.8M	179.0M	202.9M	206.7M	316.2M
Finance lease liabilities	-	-	24.0M	23.4M	22.3M	21.0M	19.5M	17.9M	16.1M	14.2M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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