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Coherent Inc (COHR) fair value: what the stock is really worth

As of Oct 15, 2026: fair value of Coherent Inc $83.60, price $251, upside -66.6%, quality 35 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Technology · US · ISIN US19247G1076

CI Coherent Inc logo Some data Oct 14, 2026

Coherent Inc

COHR · US

Weakest SetupStrongly overvalued and low quality.

Our calculation puts a fair price 67% below what the stock costs today.

Solidly profitable · 11.3% net margin (TTM)
Low debt
Expensive Growth (revenue 5y +18.0 %/yr in USD)
Mixed vs. peers (6/14)
Moderate moat 45/100 · thin data
Insider activity 46/100
Some data
Fair value $83.60 · Strongly overvalued (−66.6%)
Quality 35/100
Negative free cash flow
⚠ Dilution

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$426.89 $27.66 Fair Value $83.60 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 14, 2026.

How to read this chart

60‑month range $27.66 – $426.89 · fair‑value band $60.12 – $107.07 · the $250.60 price screens above the $83.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 14, 2026.

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Company profile

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.

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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.

Stock analysis

Coherent Inc (COHR) currently trades at $250.60, while our model-based Fair Value estimate is $83.60, 66.6% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of $126.31 per share, and 1 of the 17 models we run sit above the $250.60 price.

Bear case: the Economic Profit group reads lowest at $35.56, and 16 of the 17 models stay below the price. Data coverage for this calculation is medium.

Scenario range: $60.12 (bear) to $107.07 (bull), the price of $250.60 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 35/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Coherent Inc reported revenue of $7.1B in FY2026 versus $3.3B in FY2022, a compound +21.0%/yr. Reported net income was $805M in FY2026, compounding +36.1%/yr from FY2022.

Key figures

Market cap $56.9B · P/E ratio 60.7 · P/S ratio 6.86 · EPS (TTM) $4.13 · Dividend yield 0.0% · Net margin 11.3% · Return on equity 8.0% · Return on assets (EBIT) 3.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 45 out of 100 (low confidence).

What moves the price

The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.

The share trades about 41% below its 52-week high and 127% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −39% fair-value upside, at −67%, COHR screens richer than that median.

Fair Value models

Bear $60.12 Fair Value $83.60 Bull $107.07
Price $250.60 · Upside -66.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 4 months old). Earnings retained since then ($1.21 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income $45.32 $47.83 $53.60 76
EPV $28.98 $35.56 $41.31 74
ROIC Compounder $28.98 $35.56 $41.31 72
All 17 models by family
DCF Models
Owner Earnings $20.21 $58.30 $137.29 68
Earnings-Based
Graham-Dodd $27.95 $190.51 $267.10 63
Lynch FV $55.97 $79.95 $103.94 61
PEG = 1.0 $55.97 $79.95 $103.94 57
EPV $28.98 $35.56 $41.31 74
Dividend Discount
Gordon GGM $0.5400 $1.12 $1.77 66
DDM Multi-Stage $0.5400 $0.9400 $1.17 67
Multiples
P/E Multiple $86.32 $115.10 $143.87 63
P/S Multiple $52.41 $69.88 $87.35 58
P/B Multiple $250.55 $334.07 $417.58 55
EV/EBIT $72.38 $100.01 $127.63 66
EV/EBITDA $87.65 $120.35 $153.06 67
EV/Revenue $31.41 $49.37 $67.32 53
Asset-Based
NCAV (Graham) $27.84 $37.30 $55.68 54
Economic Profit
Residual Income $45.32 $47.83 $53.60 76
ROIC Compounder $28.98 $35.56 $41.31 72
Growth Earnings
Growth-Adj P/E $88.42 $126.31 $164.20 67

Open the full fair value analysis →

Quality Score breakdown

Overall quality 35/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 35
How much profit the company makes from its sales and capital
Quality Growth 76
Are margins and returns getting better?
Cashflow 4
Do the profits arrive as real cash?
Financial strength 64
Debt, balance sheet and risk of trouble
Investment 34
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Momentum 49
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 72
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+22.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.0%
Start year 2021 (pandemic). Over 10 years: +24.0% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.3%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+4.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.2%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.11.6% vs 14.2%, steady
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.13% → 13%
Pace: the 5-year rate starts in 2021 (pandemic)

COHR screens overvalued: fair value 67% below the price. Compare with Keysight Technologies, Inc →

Recent news

News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
Note from the team Oct 11, 2026
AI conclusion: Strong AI demand commits optical capacity through 2029 in the datacenter segment yet negative free cash flow and high debt weigh on the concentrated business.
Main risk: Heavy concentration in the datacenter and communications segment risks abrupt revenue declines if AI spending weakens, directly hitting overall profitability.
Coherent gains from AI driven demand that has left optical capacity committed through early 2029. Its datacenter and communications segment now dominates revenue while the industrial side stays weak. Will sustained AI tailwinds outweigh the risks of this heavy concentration?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Scientific & Technical Instruments · 160 stocks

Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 35 · Bottom 25%
Fair Value upside −66.6% · Bottom 25%
Profitability
Return on equity (12 months) 8.0% · Above median
Return on assets 4.4% · Above median
Net margin (12 months) 11.3% · Above median
Operating margin (12 months) 11.8% · Above median
Growth and dividend
Revenue growth 33.7% · Top 25%
Dividend yield (12 months) 0.0% · Bottom 25%
Balance sheet
Debt / equity 0.30× · Highest 25%

Valuation Multiplesvs Scientific & Technical Instruments median · lower = cheaper

P/E (12 months) 60.7× · Pricier than median
P/B 5.22× · Priciest 25%
P/S (12 months) 8.00× · Priciest 25%
EV/EBITDA 41.4× · Priciest 25%
PEG 0.92× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 40
PAST (return on equity)32 · sector 23
HEALTH (low debt)85 · sector 99
DIVIDEND (yield)0 · sector 19

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Garmin Ltd GRMN $268.36 $295.20 +10% vs COHR
Teledyne Technologies Incorporated TDY $613.66 $675.03 +10% vs COHR
Wuhan Guide Infrared Co 002414 ¥11.33 ¥9.52 −16% vs COHR
MKS Inc MKSI $264.50 $199.90 −24% vs COHR
Fortive Corporation FTV $57.26 $35.20 −39% vs COHR
Cognex Corporation CGNX $62.92 $38.10 −39% vs COHR
Trimble Inc TRMB $60.09 $29.24 −51% vs COHR
AVIC Chengdu Aircraft Company 302132 ¥57.63 ¥19.61 −66% vs COHR
Keysight Technologies, Inc KEYS $382.75 $116.07 −70% vs COHR
Chroma ATE Inc 2360 2,365 TWD 614.66 TWD −74% vs COHR

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Frequently asked questions

Is Coherent Inc (COHR) overvalued or undervalued?
As of Oct 14, 2026, our model estimates a fair value of $83.60 versus a price of $250.60, about −67% upside (overvalued).
What is the fair value of COHR?
Our model-based fair value for Coherent Inc is $83.60 (as of Oct 14, 2026), built from audited fundamentals. The current price: $250.60.
What is the quality score of COHR?
Coherent Inc has a Quality Score of 35/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Coherent Inc (COHR)?
Our model-based price target is the fair value of $83.60 (as of Oct 14, 2026) from 17 valuation models. Cautious scenario $60.12, optimistic scenario $107.07. It is a calculation from audited fundamentals, not an analyst target.
What is the Coherent Inc stock forecast for 2026?
Our models put fair value at $83.60, about −67% upside versus a price of $250.60 (overvalued). Cautious scenario $60.12, optimistic scenario $107.07. The calculation is refreshed regularly with new filings.
What is the revenue of Coherent Inc (COHR)?
Coherent Inc reported trailing-twelve-month revenue of about $7.1B (latest available figure, as of Oct 14, 2026).
Does Coherent Inc pay a dividend?
Coherent Inc currently shows a dividend yield of about 0.02% relative to its recent price (as of Oct 14, 2026).
What is the intrinsic value of Coherent Inc (COHR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Coherent Inc it is $83.60 per share (as of Oct 14, 2026), against a price of $250.60. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Coherent Inc stock overvalued or undervalued in 2026?
As of Oct 14, 2026, COHR trades above its calculated fair value: price $250.60, fair value $83.60, a gap of about −67% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of COHR?
No. The price is what the market pays today ($250.60); the fair value is what the company's own numbers justify ($83.60). For Coherent Inc the two are $167.00 per share apart. That gap is exactly why we show both numbers side by side.
How much is Coherent Inc worth?
The market values Coherent Inc at about $56.9B (market capitalisation, as of Oct 14, 2026). Per share that is $250.60; our models calculate a fair value of $83.60 per share.
What do the bullish and bearish scenarios say about COHR?
Our models span a range for Coherent Inc: cautious scenario $60.12, base $83.60, optimistic $107.07 per share (as of Oct 14, 2026, price $250.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of COHR?
Coherent Inc trades at a price-to-earnings ratio of 60.7 (as of Oct 14, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $83.60 is built from several models across several years. Excluding one-off items of fiscal year 2026 it is 88.6 (reported 60.7). Other multiples: PEG 0.9, P/B 5.2, P/S 8.0, EV/EBITDA 41.4.
What is the PEG ratio of COHR?
The PEG ratio of Coherent Inc is 0.92 (P/E divided by earnings growth, as of Oct 14, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Coherent Inc (COHR)?
Balance-sheet figures for Coherent Inc (as of Oct 14, 2026): return on equity 8.0%, debt of 0.30 per unit of equity. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is COHR from its 52-week high?
Coherent Inc trades at $250.60, about 41% below its 52-week high of $426.89 and 127% above the low of $110.41 (as of Oct 15, 2026). Distance from the high says nothing about value: that is what the fair value of $83.60 is for.
Which stocks are comparable to Coherent Inc?
From the same area (Technology) we also value Keysight Technologies, Inc, Garmin Ltd, Chroma ATE Inc, Teledyne Technologies Incorporated, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Coherent Inc stock attractive at the current price?
The data as of Oct 14, 2026: price $250.60, calculated fair value $83.60 (−67%), Quality Score 35/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of COHR calculated?
We run Coherent Inc through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $83.60, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.8 % above its aggregate fair value. Coherent Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Coherent Inc (COHR)?
The closing price on Oct 15, 2026 was $250.60. Our model-based fair value is $83.60, about −67% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Coherent Inc right now?
The price sits above even our optimistic bull case ($107.07). The favourable scenario is already priced in. Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts.
Where does the earnings growth of Coherent Inc (COHR) come from?
Earnings per share at Coherent Inc grew +7.6 % a year from 2015 to 2026. Broken into its drivers: revenue per share +11.1 %, EBIT margin −0.6 %, tax rate +1.1 %, residual (interest, one-offs) −3.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Coherent Inc

How large is the market capitalisation of Coherent Inc (COHR)?
The market capitalisation of Coherent Inc is $56.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Coherent Inc (COHR)?
The price-to-sales ratio of Coherent Inc is 6.86 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Coherent Inc (COHR)?
Earnings per share at Coherent Inc are $4.13 (price ÷ EPS = P/E 60.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Coherent Inc (COHR)?
The dividend yield of Coherent Inc is 0.0% (payout 1.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Coherent Inc (COHR)?
The net margin of Coherent Inc is 11.3% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Coherent Inc (COHR)?
The return on equity (ROE) of Coherent Inc is 8.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Coherent Inc (COHR)?
On an EBIT basis the return on assets of Coherent Inc is 3.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Coherent Inc (COHR)?
The operating margin of Coherent Inc is 11.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Coherent Inc (COHR)?
Revenue at Coherent Inc is growing +33.7% versus a year earlier (3y avg +11.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Coherent Inc (COHR)?
Earnings per share at Coherent Inc are growing +73.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Coherent Inc (COHR) generate?
The free cash flow of Coherent Inc is −$1.0B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Coherent Inc (COHR) carry?
The net debt of Coherent Inc is $2.4B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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