Coherent Corp
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+ FollowMarket Cap$42.8B
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Earnings Call Q1 2027
November 4, 2026 - AI Summary
Q1 performance beat strongly (growth + margin + leverage)
- Revenue: $2.37B in Q1, +16% sequentially and +50% YoY (pro forma +16% seq / +56% YoY excluding divested aerospace/defense and a Germany product division).
- Non-GAAP gross margin: 40.6% (+37 bps seq, +184 bps YoY), driven by pricing optimization, lower input costs, improved yields, and transition/ramp to 6-inch indium phosphide (InP).
- Non-GAAP EPS (diluted): $2.09, +20% seq and +80% YoY, highlighting strong operating leverage (bottom-line growing faster than revenue).
2020 fiscal year momentum: revenue targets pushed higher with longer visibility
- Company reaffirmed goal to reach first $3B revenue quarter by end of fiscal 2020 and expects full-year pro forma growth >60% (stated as more than double fiscal 2020 6 growth rate).
- Also states a “clear line of sight” to a first $4B revenue quarter in fiscal 2020 8.
- Visibility basis: management cites booked orders through calendar 2027 and customer bookings extending into calendar 2028, plus new LTAs providing multiyear forecast visibility.
Guidance for next quarter (Q2) is growth-positive but also implies near-term margin discipline)
- Q2 revenue guidance: $2.55B–$2.75B.
- Non-GAAP gross margin: 40%–42% (vs Q1 40.6%, implying modest range movement rather than further expansion being guaranteed quarter-to-quarter).
- Operating expenses (non-GAAP): $430M–$450M; tax rate 18%–20%.
- Non-GAAP diluted EPS: $2.28–$2.48.
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$-12.34
105.7% downside
Current Fair Value
105.7% downsideOvervalued by 105.7% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $42.80 Billion |
|---|---|
| Enterprise Value | $45.60 Billion |
| Earnings per Share | $4.34 |
| Beta | 2.23 |
| Outstanding Shares | 196,213,000 |
Return
| Return on Equity | 1696.15% |
|---|---|
| Return on Assets | 949.12% |
| Return on Invested Capital | 5.50% |
Valuation & Multiples
| P/E Ratio | 38.03 |
|---|---|
| PEG | 54.17 |
| Price to Sales | 0.02 |
| Price to Book Ratio | 3.7 |
| Enterprise Value to Revenue | 0.03 |
| Enterprise Value to EBIT | 49.38 |
| Enterprise Value to Net Income | 0 |
| Total Debt to Enterprise | 0.1 |
| Debt to Equity | 0.38 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 4, 2026
EPS
$2.09
Est. $1.99Revenue
$2.37 B
Est. $2.31 BNext Earnings Call
Expected Date
February 3, 2027
EPS Estimate
$2.41
Consensus analyst estimateRevenue Estimate
$2.65 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 1.40, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 1.3987▲ 6.33% |
|---|---|
| Total Calls | 246,800▼ 95.80% |
| Total Puts | 345,200▼ 95.60% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 12.59%▼ 98.44% |
|---|---|
| Total Invested | $7.09B▼ 89.55% |
| Investors Holding | 633▼ 753.00% |
About Coherent Inc.
CEO: Andreas Mattes
