Coherent - Public Comps and Valuation Multiples

Coherent Overview

About Coherent

Coherent Corp engaged in materials, networking, and lasers, is a vertically integrated manufacturing company that develops, manufactures, and markets engineered materials, optoelectronic components and devices, and lasers for use in the industrial, communications, electronics and instrumentation markets. The firm operates in three segments Networking, Materials, and Lasers Segment. It generates maximum revenue from Networking segment. The company geographically operates in North America. Europe, China, Japan and Rest of the world.

Founded

1971

HQ

Employees

30.2K+

Website

ii-vi.com

Sectors

Electronic Components
Industrial Parts

Financials

LTM Revenue $6.0B

LTM EBITDA $1.3B

EV

$23.7B

Valuation Multiples

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Coherent Financials

As of September 2025, Coherent reported last 12-month revenue of $6.0B and EBITDA of $1.3B.

In the same period, Coherent generated $2.2B in LTM gross profit and $607M in net income.

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Coherent P&L

In the most recent fiscal year, Coherent reported revenue of $5.8B and EBITDA of $891M.

Coherent expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$6.0B	XXX	$5.8B	XXX	XXX	XXX
Gross Profit	$2.2B	XXX	$2.0B	XXX	XXX	XXX
Gross Margin	38%	XXX	35%	XXX	XXX	XXX
EBITDA	$1.3B	XXX	$891M	XXX	XXX	XXX
EBITDA Margin	23%	XXX	15%	XXX	XXX	XXX
EBIT	$1.1B	XXX	$535M	XXX	XXX	XXX
EBIT Margin	18%	XXX	9%	XXX	XXX	XXX
Net Profit	$607M	XXX	$49.4M	XXX	XXX	XXX
Net Margin	10%	XXX	1%	XXX	XXX	XXX
Net Debt	XXX	XXX	$2.8B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Coherent including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $6.0B. EBITDA for the last twelve months was $1.3B. In the most recent fiscal year, Coherent achieved $5.8B in revenue and $891M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$6.0B	Analyst estimates available to subscribers	$5.8B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$2.2B	Analyst estimates available to subscribers	$2.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	37.6% gross margin	Analyst estimates available to subscribers	35.2% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$1.3B	Analyst estimates available to subscribers	$891M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	22.6% EBITDA margin	Analyst estimates available to subscribers	15.3% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$1.1B	Analyst estimates available to subscribers	$535M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	18.2% EBIT margin	Analyst estimates available to subscribers	9.2% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$607M	Analyst estimates available to subscribers	$49.4M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	10.2% net profit margin	Analyst estimates available to subscribers	0.8% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$2.8B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Coherent

This financial data table provides comprehensive performance metrics for Coherent, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Coherent generated $6.0B in revenue over the last twelve months.
The company achieved $1.3B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $2.2B.
Net income over the last twelve months reached $607M.

Fiscal Year Performance

In the most recent fiscal year, Coherent reported $5.8B in total revenue.
Fiscal year EBITDA was $891M.
The company maintained a gross profit margin of 35.2% in the most recent fiscal year.
EBITDA margin for the fiscal year was 15.3%.
Net profit margin reached 0.8% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Coherent. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Coherent Stock Performance

Coherent has current market cap of $18.3B, and EV of $23.7B.

Market Cap Evolution

Coherent Stock Data

As of October 17, 2025, Coherent's stock price is $116.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$23.7B	$18.3B	XXX	XXX	XXX	XXX	$3.85

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Coherent Valuation Multiples

Coherent's trades at 4.5x EV/Revenue multiple, and 29.8x EV/EBITDA.

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Coherent Financial Valuation Multiples

As of October 17, 2025, Coherent has market cap of $18.3B and EV of $23.7B.

Equity research analysts estimate Coherent's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Coherent has a P/E ratio of 30.1x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$18.3B	XXX	$18.3B	XXX	XXX	XXX
EV (current)	$23.7B	XXX	$23.7B	XXX	XXX	XXX
EV/Revenue	4.0x	XXX	4.5x	XXX	XXX	XXX
EV/EBITDA	17.6x	XXX	29.8x	XXX	XXX	XXX
EV/EBIT	21.8x	XXX	72.1x	XXX	XXX	XXX
EV/Gross Profit	10.6x	XXX	n/a	XXX	XXX	XXX
P/E	30.1x	XXX	-342.0x	XXX	XXX	XXX
EV/FCF	83.8x	XXX	121.2x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Coherent Margins & Growth Rates

Coherent's last 12 month revenue growth is 10%

Coherent's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $50K for the same period.

Coherent's rule of 40 is 25% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Coherent's rule of X is 46% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Coherent Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	10%	XXX	13%	XXX	XXX	XXX
EBITDA Margin	23%	XXX	15%	XXX	XXX	XXX
EBITDA Growth	16%	XXX	42%	XXX	XXX	XXX
Rule of 40	25%	XXX	25%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	46%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$50K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	10%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	26%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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