Coherent Corp. develops, manufactures, and markets engineered materials, optoelectronic components and devices, and laser systems for the use in the industrial, communications, electronics, and instrumentation markets worldwide. It operates through three segments: Networking, Materials, and Lasers. The Networking segment offers transceivers, systems, subsystems, modules, components, optics, and semiconductor devices for datacenter and communications applications. The Materials segment provides engineered materials, laser optics, thermoelectric components, and advanced ceramic and metal-matrix composite materials and products; and vertical-cavity surface-emitting laser, edge-emitting laser, pump lasers, high-power lasers for materials processing, and integrated circuit. The Laser segment offers excimer lasers, solid-state lasers, CO2 lasers, and laser systems for various industrial applications, including semiconductor capital equipment, display manufacturing, precision manufacturing, and scientific research; and laser systems and subsystems. It markets its products and services through direct sales force, representatives, and distributors. The company was formerly known as II-VI Incorporated and changed its name to Coherent Corp. in September 2022. Coherent Corp. was incorporated in 1971 and is headquartered in Saxonburg, Pennsylvania.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $5.8B | $891M | $49M | $193M | 0.9% | 23.4% | -131.6% |
| 2024 | $4.7B | $701M | $-156M | $199M | -3.0% | -8.8% | -39.8% |
| 2023 | $5.2B | $613M | $-259M | $198M | -5.7% | 55.6% | -210.5% |
| 2022 | $3.3B | $690M | $235M | $99M | 7.4% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 3,316.62 | 5,160.10 | 4,707.69 | 5,810.12 |
| Cost Of Revenue | - | 2,051.12 | 3,541.82 | 3,251.72 | 3,766.79 |
| Gross Profit | - | 1,265.50 | 1,618.28 | 1,455.96 | 2,043.32 |
| Operating Expense | - | 851.20 | 1,536.30 | 1,332.79 | 1,508.38 |
| Operating Income | - | 414.29 | 81.98 | 123.18 | 534.95 |
| EBITDA | - | 689.84 | 613 | 700.59 | 891.03 |
| EBIT | - | 403.06 | -68.69 | 140.83 | 337.43 |
| Pretax Income | - | 281.81 | -355.56 | -147.65 | 94.18 |
| Tax Provision | - | 47.05 | -96.10 | 11.12 | 64.12 |
| Net Income | - | 234.76 | -259.46 | -156.15 | 49.36 |
| Net Income Common Stockholders | - | 166.53 | -403.67 | -279.51 | -80.56 |
| Total Expenses | - | 2,902.32 | 5,078.12 | 4,584.51 | 5,275.17 |
| Interest Expense | - | 121.25 | 286.87 | 288.48 | 243.25 |
| Research And Development | - | 377.11 | 499.60 | 478.79 | 581.92 |
| Selling General And Administration | - | 474.10 | 1,036.70 | 854 | 926.45 |
| Normalized EBITDA | - | 689.84 | 732.10 | 727.64 | 1,136.10 |
| Normalized Income | - | 234.76 | -172.51 | -134.78 | 242.97 |
| Market Cap | 63,010.78 | 63,010.78 | 63,010.78 | 63,010.78 | 63,010.78 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Coherent Corp.this co. | COHR | - | 1276.45β premium | 11.16 | 0.9% | 74.07 |
| Akamai Technologies, Inc. | AKAM | $13.8B | 31.02 | 2.82 | 9.1% | 13.99 |
| FormFactor, Inc. | FORM | $12.0B | 222.39 | 11.68 | 5.3% | 111.80 |
| GoDaddy Inc. | GDDY | $11.9B | 13.11 | 53.34 | 406.8% | 11.07 |
| Gen Digital Inc. | GEN | $11.8B | 17.93 |
| - |
| - |
| - |
| - |
| 5.08 |
| 28.3% |
| 9.30 |
| Zebra Technologies Corporation | ZBRA | $11.6B | 26.73 | 3.12 | 11.7% | 16.15 |
| Gartner, Inc. | IT | $11.3B | 13.94 | 31.77 | 228.0% | 9.11 |
| Jack Henry & Associates, Inc. | JKHY | $11.0B | 24.00 | 5.13 | 21.4% | - |
| Sanmina Corporation | SANM | $10.4B | 42.67 | 4.46 | 10.4% | 20.60 |
| Peer Median | - | 25.37 | 5.11 | 16.5% | 13.99 | |