Coherent (COHR) stock
Information Technology · Electronic Components
Coherent (COHR) is an Electronic Components company in the Information Technology sector, headquartered in Saxonburg, Pennsylvania. As of October 23, 2026, COHR closed at $209.29, a market capitalization of $41.22 billion, the 266th largest company in the S&P 500. Over the last twelve months it generated $7.12 billion in revenue (+34% year over year) and -$1.03 billion in free cash flow. The stock trades at 50.8x trailing earnings and 15.0x forward earnings.
- 1-year total return: +72.2% (dividends reinvested)
- 5-year return: +29.0% a year
- 52-week range: $123.75 – $440.00
- Gross margin 37.5%, operating margin 11.8%
- FI Handbook report card: C- across 10 metrics
- 50th largest of 75 Information Technology stocks in the S&P 500
COHR price chart
1Y price change: +72.2% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| COHR | -30.4% | +13.4% | +72.2% | +89.0% | +29.0% | +23.1% | +17.3% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1987.
COHR key statistics
- Market cap
- $41.2B
- #266 in S&P 500
- P/E (TTM)
- 50.8x
- Forward P/E
- 15.0x
- EPS (TTM)
- $4.12
- Revenue (TTM)
- $7.1B
- +34%
- Free cash flow
- -$1.0B
- Gross margin
- 37.5%
- Operating margin
- 11.8%
- Return on equity
- 8.0%
- Dividend yield
- None
- 52-week range
- $123.75 – $440.00
- Beta
- 2.11
- Price / sales
- 5.8x
- EV / EBITDA
- 30.1x
- Debt / equity
- 0.32x
- Employees
- 51,478
COHR report card
C-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth33.7%A
- Gross margin37.5%C
- Operating margin11.8%C
- FCF margin-14.5%F
- Return on equity8.0%D
- Net debt / EBITDA1.1xC
- Forward P/E15.0xB
- PEG ratio0.9xA
- Shareholder yield0.0%F
- Share count change / yr11.2%F
Coherent financials
Revenue went from $972.0M in fiscal 2017 to $7.1B in fiscal 2026, growing 24.8% a year.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $972.0M | $1.2B | $1.4B | $2.4B | $3.1B | $3.3B | $5.2B | $4.7B | $5.8B | $7.1B |
| Gross profit | $388.4M | $462.2M | $521.3M | $791.2M | $1.2B | $1.3B | $1.6B | $1.5B | $2.0B | $2.7B |
| Operating income | $115.6M | $136.8M | $148.7M | $39.5M | $402.1M | $414.3M | -$37.1M | $96.1M | — | — |
| 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 |
| Free cash flow | -$19.9M | $7.6M | $41.4M | $160.4M | $428.0M | $99.0M | $198.0M | $198.9M | $192.8M | -$1.0B |
| Buybacks | — | $49.9M | $1.6M | $1.6M | $0 | $0 | — | — | — | — |
| Diluted shares | 64.5M | 65.1M | 65.8M | 84.8M | 115.0M | 116.5M | 137.6M | 151.6M | 154.8M | 195.4M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into COHR?
A reverse DCF asks what growth the current price requires. With an enterprise value of $42.8B and -$1.0B of trailing free cash flow, Coherent needs to grow free cash flow at a rate outside our model for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 50.8x vs. median 24.8x (10th–90th percentile 17.5x–34.7x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
COHR analyst price targets
24 analysts' average 12-month target is $394.79 (+89% vs. $209.29). Targets range from $230.00 to $500.00. 76% rate it a buy.
COHR earnings
Next report: November 4, 2026. Coherent has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $2.0B (+34% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 12, 2026 | $1.62 | $1.74 | +7.6% |
| May 6, 2026 | $1.39 | $1.41 | +1.1% |
| Feb 4, 2026 | $1.21 | $1.29 | +6.8% |
| Nov 5, 2025 | $1.04 | $1.16 | +11.3% |
| Aug 13, 2025 | $0.92 | $1.00 | +8.7% |
| May 7, 2025 | $0.86 | $0.91 | +6.2% |
| Feb 5, 2025 | $0.67 | $0.95 | +41.0% |
| Nov 6, 2024 | $0.61 | $0.74 | +20.5% |
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COHR news
- Did AI Funding Delays Just Shift Coherent's (COHR) Investment Narrative? · Oct 25, 2026
- Coherent Named One of TIME’s America’s Growth Leaders 2027 · Oct 22, 2026
- Optics Stocks Tumble as Tech Selloff Deepens Ahead of Earnings: Coherent Tumbles 12%, Applied Optoelectronics Drops 10%, Lumentum Falls 9% · Oct 22, 2026
- Coherent Just Dropped 19% in a Week, Lumentum 16%. Is It Time to Sell, or Load Up? · Oct 22, 2026
- Coherent Slides 25% in Three Months as Nvidia-Backed Optics Ramp Meets a Cash Burn Test · Oct 22, 2026
COHR stock FAQ
What is COHR's market cap?
Coherent's market capitalization is $41.22 billion as of October 23, 2026, ranking 266th in the S&P 500.
What is COHR's P/E ratio?
COHR trades at a trailing price-to-earnings ratio of 50.8x and a forward P/E of 15.0x. Its median P/E over the period we track is 24.8x.
Does COHR pay a dividend?
No. Coherent does not currently pay a regular cash dividend.
How much has COHR stock returned?
Including reinvested dividends, COHR returned +72.2% over one year, +29.0% a year over five years, +23.1% a year over ten years through October 23, 2026.
What is the COHR price target?
24 analysts cover COHR with an average 12-month price target of $394.79, +89% from the current price. 76% of them rate it a buy.
When does COHR report earnings?
Coherent is expected to report earnings on November 4, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does Coherent have?
Coherent has about 51,478 full-time employees, or $138,276 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology