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COHR AI Data Center Fabric Optics + photonics bottleneck Open in compare 3D performance Excel model

Coherent

Coherent gives the dashboard a second serious optics name, which matters because AI networking is increasingly an optical problem.

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Price $236.19 Live
1D Change -5.94% 1 day
Market Cap $46.51B Live
Enterprise Value $50.97B Current
Trailing P/E 57.3 TTM
Forward P/E 16.8 Forward
PEG Ratio 0.92x Yahoo est.
Price / Sales 6.5 TTM
EV / Revenue 7.2 TTM
Revenue Growth 33.7% YoY latest qtr
Earnings Growth — YoY latest qtr
Gross Margin 37.5% TTM
Operating Margin 11.8% TTM
Net Margin 11.3% TTM
ROE 8.0% TTM
Free Cash Flow $-650.0M TTM
FCF Margin -9.1% TTM
Debt / Equity 0.32x Latest qtr
Current Ratio 2.43x Latest qtr
Dividend Yield 0.00% Annualized
Next Earnings Nov 04, 2026 Calendar

Metric timing

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Latest quarter / dividend cadence

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Revenue $7.12B Jun 30, 2026

latest annual revenue

Revenue $2.05B Jun 30, 2026

latest quarterly revenue

Net Income $805.0M Jun 30, 2026

latest annual profit

Net Income $240.5M Jun 30, 2026

latest quarterly profit

Dividend / Share $0.00 No regular dividend

annualized per share

Last Dividend — No dividend history

latest ex-dividend cash amount

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Why it could benefit going forward

  • Coherent gives the dashboard a second serious optics name, which matters because AI networking is increasingly an optical problem.
  • It provides exposure to lasers, transceivers, and photonic components that support large AI fabrics.
  • If optical capacity becomes a key AI constraint, Coherent is closer to the bottleneck than many mainstream semiconductor names.

Moat / edge

  • Deep photonics and materials expertise.
  • A broad product set across critical optical components.
  • Positioning in a specialized manufacturing stack that is hard to replicate.

What to watch

  • AI-related datacenter optics demand and customer wins.
  • Margin improvement as mix shifts.
  • How much NVIDIA-linked optical demand translates into sustained revenue.

Key risks

  • Execution and integration complexity can weigh on results.
  • Optics demand can be cyclical and less linear than the AI narrative suggests.

Business snapshot

Coherent Corp. develops, manufactures, and markets lasers, transceivers, other optical and optoelectronic devices, modules, and systems worldwide. Its products include critical components consisting of detectors, passive optics, thermal solutions, and PICS; silicon photonics and other advanced optical technologies; and coherent transmission components, transport products, optical amplifiers, passive optical components, optical line systems, and multi-rail platform. The company's Datacenter and Communications segment offers transceivers, co-packaged optics, and optical circuit switches, as well as other systems, such as subsystems, modules, and semiconductor devices for datacenter and communications applications; and VCSELS, EELS, pump lasers, and other components, optics, and ICs for datacenter and communication applications. Its Industrial segment offers excimer lasers, solid-state lasers, and CO2 lasers; laser systems for various industrial applications, including semiconductor capital equipment, display manufacturing, precision manufacturing, and scientific research; and laser systems and subsystems comprising high-power lasers for materials processing. This segment also provides engineered materials, laser optics, thermoelectric components, and advanced ceramic and metal-matrix composite materials and products. It markets its products and services through a 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.