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COHR price
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Research · S&P 500 · Information Technology
COHR · Coherent Corp.
The numbers, the scorecard and what analysts say, with the source for each. Information, not advice.
Value Scorecard · run 2026-10-18
13 value checks: 12 scored 1 to 5 where the data allows, plus moat evidence
25/55
low-moderate value score11 of 12 checks scored11 of the 12 checks that carry a score were scored from the data available. 1 could not be scored (Margin of Safety) and was left out, so the score is out of 55 instead of 60. The label uses the same share of the available points as for a full scorecard. The moat is shown as evidence from the filings, without a score.
Earnings & returns
EPS Trend
5/5Diluted EPS: -$2.93 (2023), -$1.84 (2024), -$0.52 (2025), $4.12 (2026). It rose every year; the framework scores that as 5.
ROE Trend
1/5ROE (net income / common equity): -8.9% (2023), -5.4% (2024), -1.4% (2025), 7.1% (2026). Median -3.4%, lowest -8.9%; the framework scores a median 5% or less as 1.
ROIC
1/5ROIC of 0.7%: operating income of $96.12M divided by $13.14B of capital (total assets $14.49B minus current liabilities $1.34B), fiscal year to Jun 30, 2024, as filed in the 10-K (SEC EDGAR). The framework scores below 5% as 1.
Profit Margins
4/5Net margin of 11.3%; the framework scores 10-20% as 4; gross margin 37.5%, operating margin 11.8%.
Balance sheet & cash
Debt-to-Equity
4/5Debt-to-equity of 0.32; the framework scores 0.3-0.8 as 4 (total debt $3.55B, total cash $1.99B).
Free Cash Flow
1/5Free cash flow (operating cash flow minus capital expenditure): $197.97M (2023), $198.91M (2024), $192.76M (2025), -$1.03B (2026). The latest figure is at or below zero; the framework scores that as 1.
Retained Earnings
3/5Retained earnings, as filed in the 10-Ks (SEC EDGAR): $944.42M (2023), $664.94M (2024), $584.37M (2025), $1.35B (2026). It ended above 2023 but did not rise in 2 of 3 years; the framework scores that as 3.
Valuation models
Graham IV
1/5IV = EPS x (8.5 + 2g) x (4.4 / Y) = $4.12 x (8.5 + 2 x 5.0) x (4.4 / 4.5) = $74.53 (EPS CAGR unavailable, default 5% applied). Current price $232.90; price is 212.5% above the model value.
DCF Value
1/5Free cash flow per share is -$3.30; a two-stage DCF cannot be computed from negative free cash flow.
Margin of Safety
Not scoredNeeds both a Graham value and a DCF value. Graham value $74.53 (price is 212.5% above the model value); DCF value N/A (not comparable).
Price-to-Book
2/5P/B of 4.18; the framework scores 3.0-5.0 as 2.
Business quality
Moat Evidence
Not scoredA moat (a brand, a network, switching costs, patents, scale, a licence) is not a number in the filings, so Valerius doesn’t score it. Below are the figures and the words moat analysis starts from, from the company’s own 10-K filings. The conclusion is yours.
Return on capital, each year
Above 15% in 0 of 10 years (2015-2024); lowest -0.3%, highest 9.0%.
Gross margin, each year
Between 30.9% and 40.0% over 10 years (a range of 9.1 points).
Competition, in the company’s own words · 10-K filed Aug 14, 2026
Coherent is a global leader in many of its product families. We compete, in part, on our core competencies from materials to systems, our differentiated products and services, and the sustainability of our competitive advantages. We also compete by using our intellectual property, ability to scale, product quality, on-time delivery, and technical support. We believe that our vertical integration, manufacturing facilities and equipment, experienced technical and manufacturing employees, and worldwide marketing and distribution channels provide us with competitive advantages. In addition to competitors who manufacture products similar to those we produce, there are other technologies and products available that may compete with our technologies and products.
The opening of the company’s “Competition” section in its 10-K, quoted word for word, not summarized or edited. It is the company’s own description, not Valerius’s view, and may include the company’s expectations. Open the filing.
Return on capital = operating income / (total assets − current liabilities), the ROIC row’s definition; 15% is the framework’s return threshold. Gross margin = gross profit / revenue. Both from each year’s 10-K via SEC EDGAR. Moat analysis commonly looks at whether returns and margins held up over many years. These figures don’t say whether the company has an advantage, what it is, or whether it will last.
Capital Allocation
2/5Capital allocation, 2023-2026: dividends or buybacks paid in 3 of 4 years (fail); $50.48M paid out against -$440.93M of free cash flow (fail: free cash flow was negative); total debt $4.49B to $3.54B, down 21.2%, 2.3x EBITDA (pass: not up more than 10%); shares outstanding 0.14B to 0.20B, up 40.2% (fail: up more than 2%). 1 of 4 tests passed; the framework scores that as 2.
Filings
Company notices to the SEC
Not scoredThree kinds of event the company reported to the SEC in the last 5 years, from its filings on SEC EDGAR.
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These are events the company reported to the SEC. An auditor change or a late filing can have many causes; each date links to the filing, where the company explains it. Valerius does not score these.
How the Graham and DCF values were calculated
Graham Formula:
IV = EPS x (8.5 + 2g) x (4.4 / Y)
EPS = $4.12, g = 5.0%, Y = 4.5
IV = $74.53
Current price $232.90 vs Graham value $74.53 — price is 212.5% above the model value.
DCF:
FCF/share -$3.301 — a two-stage DCF cannot be computed from negative free cash flow.Data from yfinance summary figures and financial statements, and from the company’s 10-K filings via SEC EDGAR; computed at a price of $232.90. Every score is calculated from the figures by the framework’s fixed rules, and the explanation beside it is generated from the same figures: Graham value, DCF value, margin of safety, ROIC, profit margins, debt-to-equity, price-to-book, EPS trend, ROE trend, free cash flow, retained earnings and capital allocation. No AI is involved in this scorecard. The moat is shown as evidence, without a score. Read each score with the figures beside it. A check that cannot be scored from the available data is shown as not scored and left out of the composite score. Intrinsic value calculations are model outputs based on stated assumptions, not predictions.
Recent headlines · third-party publishers · not investment advice
In the news
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The 8 newest headlines whose title names the company, shown automatically and never chosen by Valerius. From third-party publishers via Yahoo Finance, linked to the source. Valerius doesn't write or endorse them. Not investment advice.