Coherent
What matters nowUpdated 5 h ago
- Coherent filed its definitive proxy statement (DEF 14A) with the SEC on Oct 9, 2026, setting out the matters shareholders will vote on at the 2026 annual meeting on Nov 18, 2026 1.
- The stock has been volatile: it fell 9.4% on Oct 12 and 8.6% on Oct 8, after rising 10.9% on Oct 1 and 5.6% on Oct 2; the pooled 24/7 venue price was $282.97 (pooled 24/7 venue price), down 0.35% from the previous close.
- Fiscal Q4 2026 revenue was $2.05 billion, up 34% from a year earlier 2; fiscal 2026 revenue reached $7.12 billion, up 22.5%, with Datacenter & Communications at $5.27 billion, up 40%.
- Trailing margins are a 37.5% gross margin and an 11.3% net margin, with trailing free cash flow of -$1.02 billion and net debt of $2.06 billion; the stock trades at 68.7 times trailing earnings and 7.8 times sales on a $55.4 billion market cap.
- Insiders sold 35,636 shares worth $10.6 million across 12 transactions over the last 180 days and bought none; an 8-K filed Aug 31, 2026 reported a director or officer change under Item 5.02 3.
- The next earnings report for fiscal Q1 2027 is estimated for Nov 10, 2026 and is not yet confirmed; the fiscal Q2 2027 report is estimated for Feb 3, 2027.
Coherent makes lasers, optical transceivers and optical subsystems for AI datacenters and telecom networks, plus lasers for industrial manufacturing and silicon carbide substrates. Datacenter & Communications produced 74% of fiscal 2026 revenue of $7.12 billion, up 22.5%. Traders follow it through 800G and 1.6T transceiver volumes, indium phosphide laser capacity, co-packaged optics and the margin profile of its industrial business. NVIDIA agreed to invest $2 billion in the company in March 2026.
How it makes money
Coherent sells optical transceivers, laser chips and optical subsystems to datacenter operators, networking equipment makers and telecom providers, and sells lasers, laser systems and engineered materials to industrial customers in precision manufacturing, semiconductor and display equipment, life sciences and automotive. It makes indium phosphide and silicon carbide wafers in its own fabs, which gives it control over its most constrained inputs. Two customers each accounted for more than 10% of fiscal 2026 revenue. The company's fiscal year ends June 30.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
Datacenter transceivers
Datacenter & Communications revenue reached $5.27 billion in fiscal 2026, up 40%.
Laser components and indium phosphide fabs
Sherman, Texas expansion broke ground in June 2026, backed by a $2 billion NVIDIA investment.
Silicon carbide substrates
Demand was weak in fiscal 2025; the silicon carbide business held $604 million of restricted cash at June 30, 2026.
Industrial lasers
Industrial revenue fell 10% to $1.84 billion in fiscal 2026.
Latest newsAll news →
Coherent reports fiscal Q4 2026 results: revenue $2.05B, up 34% from a year earlier
Coherent filed a Form 8-K with the SEC on Aug 12, 2026, 4:10 PM ET, reporting an event dated Aug 12, 2026.
Coherent breaks ground on expanded 6-inch indium phosphide building in Sherman, Texas
Coherent broke ground on an expanded building at its Sherman, Texas campus, home to what the company describes as the world's first 6-inch indium phosphide fab.
Coherent signs letter of intent for up to $50 million CHIPS Act funding for Sherman expansion
Coherent signed a letter of intent for up to $50 million in direct CHIPS and Science Act funding from the Department of Commerce to expand its Sherman, Texas indium phosphide plant.
Coherent reports fiscal Q3 2026 results: revenue $1.81B, up 21% from a year earlier
Coherent filed a Form 8-K with the SEC on May 6, 2026, 4:10 PM ET, reporting an event dated May 6, 2026.
Coherent capex climbs to $547.2 million for nine months as it adds capacity
In its fiscal Q3 2026 release, Coherent reported additions to property, plant and equipment of $547.2 million for the nine months ended March 31, 2026, up from $309.5 million a year earlier.
Chief Strategy Officer Giovanni Barbarossa steps down April 27 and retires in September
Coherent disclosed in an 8-K filed April 28, 2026 that Chief Strategy Officer Giovanni Barbarossa left that role effective April 27, 2026.
Products & businesses
Datacenter transceivers
Datacenter & Communications revenue reached $5.27 billion in fiscal 2026, up 40%.
Laser components and indium phosphide fabs
Sherman, Texas expansion broke ground in June 2026, backed by a $2 billion NVIDIA investment.
Silicon carbide substrates
Demand was weak in fiscal 2025; the silicon carbide business held $604 million of restricted cash at June 30, 2026.
Industrial lasers
Industrial revenue fell 10% to $1.84 billion in fiscal 2026.
What it's building next
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Datacenter & Communications Optical transceivers, co-packaged optics, optical circuit switches, VCSEL and edge-emitting laser components, and telecom transport products sold to datacenter operators, networking equipment makers and telecom providers. | $5.27B | 74.1% | |
| Industrial Industrial lasers and laser systems, engineered materials, laser optics and silicon carbide substrates sold to precision manufacturing, semiconductor and display equipment makers, life science customers and automotive suppliers. | $1.84B | 25.9% |
Fiscal FY2026 · from the annual report
Valuation & fundamentals
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q4 FY2026 2026-06-30 | Q3 FY2026 2026-03-31 | Q2 FY2026 2025-12-31 | Q1 FY2026 2025-09-30 | Q4 FY2025 2025-06-30 | Q3 FY2025 2025-03-31 | Q2 FY2025 2024-12-31 | Q1 FY2025 2024-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.12B | $2.05Bd +34% | $1.81B +21% | $1.69B +17% | $1.58B +17% | $1.53Bd +16% | $1.50B +24% | $1.43B +27% | $1.35B +28% |
| Gross profit | $2.67B | $787.1Md +44% | $679.9Md +29% | $622.8Md +22% | $579.2Md +26% | $546.1Md +26% | $527.7Md +44% | $509.4Md +45% | $460.1Md +50% |
| Operating income | — | — | — | — | — | — | — | — | — |
| Net income | $805.0M | $240.5Md | $191.4M +1118% | $146.7M +42% | $226.3M +774% | −$95.6Md | $15.7M | $103.4M | $25.9M |
| EPS (diluted) | $4.12 | $1.20d | $0.97 | $0.76 +73% | $1.19 | $-0.82d | $-0.11 | $0.44 | $-0.04 |
| Operating cash flow | $79.5M | $69.5Md -47% | −$93.8Md -158% | $57.9Md -69% | $46.0M -70% | $130.3Md -20% | $163.0Md +39% | $187.4Md +179% | $153.0M -23% |
| Capital expenditure | $1.10B | $555.7Md +323% | $289.7Md +159% | $153.6Md +45% | $103.9M +13% | $131.3Md +31% | $111.8Md +20% | $105.7Md +16% | $92.0M +48% |
| Share buybacks | — | — | — | — | — | — | — | — | — |
| Cash & equivalents | $1.16B | $1.16B | $1.59B | $863.7M | $852.8M | $909.2M | $890.3M | $917.8M | $1.02B |
| Total debt | $3.22B | $3.22B | $3.19B | $3.35B | $3.31B | $3.69B | $3.73B | $3.86B | $3.99B |
| Shares outstanding | 195.8M | 195.8M | 195.6M | 187.5M | 157.2M | 155.8M | 155.4M | 155.0M | 154.7M |
| Metric | FY2026 2026-06-30 | FY2025 2025-06-30 | FY2024 2024-06-30 | FY2023 2023-06-30 | FY2022 2022-06-30 |
|---|---|---|---|---|---|
| Revenue | $7.12B +23% | $5.81B +23% | $4.71B -9% | $5.16B +56% | $3.32B |
| Cost of revenue | $4.45B +18% | $3.77B +16% | $3.25B -8% | $3.54B +73% | $2.05B |
| Gross profit | $2.67Bd +31% | $2.04Bd +40% | $1.46Bd -10% | $1.62Bd +28% | $1.27Bd |
| Research & development | $723.0M +24% | $581.9M +22% | $478.8M -4% | $499.6M +32% | $377.1M |
| Operating income | — | — | $96.1M | −$37.1M -109% | $414.3M |
| EBIT | — | — | $96.1M | −$37.1M -109% | $414.3M |
| Depreciation & amortization | $521.9M -6% | $553.6M -1% | $559.8M -100% | $681.69B +237605% | $286.8M |
| Interest expense | — | — | — | $286.9M +137% | $121.3M |
| Income tax | $60.8M -5% | $64.1M +477% | $11.1M | −$96.1M -304% | $47.0M |
| Net income | $805.0M +1531% | $49.4M | −$156.2M | −$259.5M -211% | $234.8M |
| EPS (diluted) | $4.12 | $-0.52 | $-1.84 | $-2.93 -302% | $1.45 |
| Diluted shares (weighted) | 195.4M | 154.8M | 151.6M | 137.6M | 116.5M |
| Operating cash flow | $79.5M -87% | $633.6M +16% | $545.7M -14% | $634.0M +53% | $413.3M |
| Capital expenditure | $1.10B +150% | $440.8M +27% | $346.8M -20% | $436.1M +39% | $314.3M |
| Share buybacks | — | — | — | — | $0 |
| Cash & equivalents | $1.16B | $909.2M | $926.0M | $821.3M | $2.58B |
| Long-term debt (incl. current portion) | $3.22B | $3.69B | $4.10B | $4.31B | $2.30B |
| Total debt | $3.22B | $3.69B | $4.10B | $4.31B | $2.30B |
| Total assets | $18.30B | $14.91B | $14.49B | $13.71B | $7.84B |
| Total liabilities | $7.06B | $6.43B | $6.54B | $6.48B | $3.46B |
| Shareholders' equity | $10.90B | $5.64B | $5.21B | $4.99B | $3.62B |
| Shares outstanding | 195.8M | 155.8M | 153.3M | 150.4M | 130.9M |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Coherent reports fiscal Q4 2026 results: revenue $2.05B, up 34% from a year earlier
Coherent filed a Form 8-K with the SEC on Aug 12, 2026, 4:10 PM ET, reporting an event dated Aug 12, 2026.
Coherent breaks ground on expanded 6-inch indium phosphide building in Sherman, Texas
Coherent broke ground on an expanded building at its Sherman, Texas campus, home to what the company describes as the world's first 6-inch indium phosphide fab.
Coherent signs letter of intent for up to $50 million CHIPS Act funding for Sherman expansion
Coherent signed a letter of intent for up to $50 million in direct CHIPS and Science Act funding from the Department of Commerce to expand its Sherman, Texas indium phosphide plant.
Coherent reports fiscal Q3 2026 results: revenue $1.81B, up 21% from a year earlier
Coherent filed a Form 8-K with the SEC on May 6, 2026, 4:10 PM ET, reporting an event dated May 6, 2026.
Coherent capex climbs to $547.2 million for nine months as it adds capacity
In its fiscal Q3 2026 release, Coherent reported additions to property, plant and equipment of $547.2 million for the nine months ended March 31, 2026, up from $309.5 million a year earlier.
Chief Strategy Officer Giovanni Barbarossa steps down April 27 and retires in September
Coherent disclosed in an 8-K filed April 28, 2026 that Chief Strategy Officer Giovanni Barbarossa left that role effective April 27, 2026.
Coherent launches thick silicon carbide epitaxy for power devices up to 10 kV
Coherent said its 150 mm and 200 mm thick silicon carbide epitaxy platforms already support device architectures up to 10 kV in production, with demonstrated capability beyond that level.
Coherent and Tower Semiconductor demonstrate 400 Gbps-per-lane silicon modulator
Tower Semiconductor and Coherent announced a breakthrough demonstration of 400 Gbps-per-lane transmission through a silicon modulator built in a production-ready silicon photonics process.
Coherent shows multi-technology co-packaged optics and joins Open CPX and XPO MSAs at OFC 2026
At OFC 2026 in Los Angeles, Coherent showed a multi-technology co-packaged optics (CPO) demonstration that combines silicon photonics, VCSEL and InP-on-silicon devices.
Coherent demonstrates multiple 1.6T pluggable transceivers and 400G-per-lane links at OFC
Coherent showed several 1.6T pluggable transceivers at OFC 2026 that use different optical technologies, including silicon photonics, a high-power InP CW laser, 200G InP EML and 200G GaAs VCSEL.
NVIDIA to invest $2 billion in Coherent and sign multibillion-dollar purchase commitment
NVIDIA and Coherent signed a multiyear, nonexclusive strategic partnership on March 2, 2026 to develop optics technology for next-generation data center architecture.
Coherent sells 7,788,161 shares to NVIDIA at $256.80 in a $2 billion private placement
Coherent issued 7,788,161 shares of common stock to NVIDIA at $256.80 per share, for $2 billion in cash, in a private placement disclosed in an 8-K dated March 2, 2026.
Coherent to join the S&P 500 effective March 23, 2026
Coherent announced in a company release that it will join the S&P 500 index effective Monday, March 23, 2026.
Coherent fiscal Q2 2026 revenue $1.69B, up 17.5%, with guidance for $1.70B-$1.84B
Coherent reported revenue of $1,686 million for the quarter ended December 31, 2025, up 17.5% from a year earlier and about 22% on a pro forma basis after the aerospace and defense sale.
Coherent launches Bondable Diamond thermal management solutions for chip cooling
Coherent introduced a diamond heat-spreader product with a surface finish that lets it bond directly to semiconductor dies.
Coherent reports fiscal Q1 2026 results: revenue $1.58B, up 17% from a year earlier
Coherent filed a Form 8-K with the SEC on Nov 5, 2025, 4:11 PM ET, reporting an event dated Nov 5, 2025.
SEC filings
| Oct 9, 26 | ARS | ARS: Annual report to shareholders | sec.gov ↗ |
| Oct 9, 26 | DEFA14A | DEFA14A: Additional proxy materials | sec.gov ↗ |
| Oct 9, 26 | DEF 14A | DEF 14A: Definitive proxy statement | sec.gov ↗ |
| Oct 7, 26 | 4 | Form 4: Mocciaro Ilaria (Chief Accounting Officer) — tax withholding 1,766 sh | sec.gov ↗ |
| Oct 7, 26 | 4 | Form 4: PAGLIUCA STEPHEN G (Director) — award 279 sh | sec.gov ↗ |
| Oct 5, 26 | 4 | Form 4: Place Jeffrey B. (Chief Supply Chain Officer) — tax withholding 641 sh | sec.gov ↗ |
| Sep 15, 26 | 4 | Form 4: Digirolomo Enrico (Director) — open-market sale 5,315 sh, gift 1,279 sh | sec.gov ↗ |
| Sep 11, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 11, 26 | 4 | Form 4: Beard Robert P (Chief Strategy & Legal Officer) — open-market sale 500 sh | sec.gov ↗ |
| Sep 9, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 4, 26 | 4 | Form 4: Neal-Graves Lisa (Director) — open-market sale 2,200 sh | sec.gov ↗ |
| Sep 2, 26 | 4 | Form 4: Digirolomo Enrico (Director) — open-market sale 2,272 sh | sec.gov ↗ |
| Sep 2, 26 | 4 | Form 4: SKAGGS STEPHEN A (Director) — open-market sale 2,272 sh | sec.gov ↗ |
| Sep 2, 26 | 4/A | 4/A: Insider transaction report (amended) | sec.gov ↗ |
| Sep 2, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 1, 26 | 4 | Form 4: Place Jeffrey B. (Chief Supply Chain Officer) — award 3,358 sh | sec.gov ↗ |
| Sep 1, 26 | 4 | Form 4: Mocciaro Ilaria (Chief Accounting Officer) — award 4,061 sh, tax withholding 2,174 sh | sec.gov ↗ |
| Sep 1, 26 | 4 | Form 4: Luther Sherri R (CFO and Treasurer) — award 8,731 sh, tax withholding 2,594 sh | sec.gov ↗ |
| Sep 1, 26 | 4 | Form 4: Eng Julie Sheridan (Chief Technology Officer) — award 17,333 sh, tax withholding 12,862 sh, open-market sale 13,077 sh | sec.gov ↗ |
| Sep 1, 26 | 4 | Form 4: Beard Robert P (Chief Strategy & Legal Officer) — award 5,373 sh, tax withholding 1,896 sh | sec.gov ↗ |
| Sep 1, 26 | 4 | Form 4: ANDERSON JAMES ROBERT (CEO, Director) — award 30,564 sh, tax withholding 11,958 sh | sec.gov ↗ |
| Sep 1, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 31, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 31, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 31, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-09-11 | Digirolomo Enrico Director | Sale | 5.3K | $305.99 | $1.6M |
| 2026-09-09 | Beard Robert P Chief Strategy & Legal Officer | Sale | 500 | $309.32 | $154.7K |
| 2026-09-02 | Neal-Graves Lisa Director | Sale | 2.2K | $268.42 | $590.5K |
| 2026-09-01 | Eng Julie Sheridan Chief Technology Officer | Sale 10b5-1 plan | 6.0K | $270.69 | $1.6M |
| 2026-08-31 | Eng Julie Sheridan Chief Technology Officer | Sale 10b5-1 plan | 7.0K | $276.83 | $2.0M |
| 2026-08-31 | SKAGGS STEPHEN A Director | Sale 10b5-1 plan | 2.3K | $276.88 | $629.1K |
| 2026-08-31 | Digirolomo Enrico Director | Sale 10b5-1 plan | 2.3K | $276.85 | $629.0K |
| 2026-08-18 | Luther Sherri R Chief Financial Officer | Sale 10b5-1 plan | 3.0K | $324.00 | $972.0K |
| 2026-07-22 | Luther Sherri R Chief Financial Officer | Sale 10b5-1 plan | 1.0K | $306.68 | $306.7K |
| 2026-05-12 | Luther Sherri R Chief Financial Officer | Sale 10b5-1 plan | 2.0K | $372.96 | $745.9K |
| 2026-05-11 | Xia Howard H. Director | Sale | 2.0K | $354.50 | $709.0K |
| 2026-04-22 | Luther Sherri R Chief Financial Officer | Sale 10b5-1 plan | 2.0K | $351.00 | $702.0K |
| 2026-03-17 | Xia Howard H. Director | Sale | 3.2K | $241.65 | $782.9K |
| 2026-03-16 | Xia Howard H. Director | Sale | 1.0K | $258.00 | $258.0K |
| 2026-03-10 | Eng Julie Sheridan Chief Technology Officer | Sale 10b5-1 plan | 1.5K | $258.18 | $375.4K |
| 2026-03-09 | SKAGGS STEPHEN A Director | Sale 10b5-1 plan | 3.5K | $243.13 | $856.6K |
| 2026-03-06 | Digirolomo Enrico Director | Sale | 3.9K | $241.50 | $944.5K |
| 2026-03-02 | Eng Julie Sheridan Chief Technology Officer | Sale 10b5-1 plan | 2.8K | $291.42 | $813.6K |
| 2026-02-12 | Luther Sherri R Chief Financial Officer | Sale 10b5-1 plan | 4.0K | $217.74 | $871.0K |