Company file · COHR

Coherent

Coherent's revenue rose 22.5% in FY2026, to $7.1B, and net income rose 1530.7% to $805M

Revenue rose 22.5% to $7.1B in FY2026, from $5.8B in FY2025. Net income rose 1530.7% to $805M. Datacenter and Communications was the largest segment, at 74% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2026 (filed Aug 14, 2026) · Latest quarter: 10-Q for the quarter ended Sep 30, 2026 (filed Nov 4, 2026) · Data pulled Nov 11, 2026

Key facts

Coherent (NYSE: COHR) reported revenue of $7.1B for fiscal 2026, the year ended Jun 30, 2026, up 22.5% from fiscal 2025. Net income was $805M, up 1530.7%. In its latest 10-Q, for the quarter ended Sep 30, 2026, revenue was $2.4B, up 49.9% from the same quarter a year earlier, and net income was $385M. The largest piece by segment was Datacenter and Communications, at 74% of fiscal 2026 revenue. Sources: 10-K for fiscal 2026 (filed Aug 14, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Nov 4, 2026).

Revenue$7.1BFY2026 · +22.5% vs FY2025

Net income$805MFY2026 · vs $49M in FY2025

Operating cash flow$80MFY2026 · −87.5% vs FY2025

Cash & equivalents$1.6Bat Sep 30, 2026 · +33.6% vs FY2026 end

Total debt$4.0Bat Sep 30, 2026 · +24.2% vs FY2026 end

Diluted shares195MFY2026 avg · +26.3% vs FY2025

Revenue and net income, three fiscal yearsBy fiscal year, $bn

RevenueNet income

Source: 10-K FY2026, filed Aug 14, 2026

Quarterly revenue: fiscal 2027 vs a year earlierFiscal Q1, $bn (each quarter from that quarter's 10-Q)

FY2026FY2027

Source: 10-Q filed Nov 4, 2026

How it makes money

By segment, FY2026

LineAmountSharevs FY2025
Datacenter and Communications$5.3B74%+40.5%
Industrial$1.8B26%−10.3%

Source: 10-K FY2026, XBRL breakdown

By segment in FY2026: Datacenter and Communications (74%) and Industrial (26%), as shares of total revenue. Total revenue was $7.1B.

By segment: three-year mixShare of the total each fiscal year

FY2024

56%44%

FY2025

65%35%

FY2026

74%26%

Datacenter and CommunicationsIndustrial

Source: 10-K FY2026

By region, FY2026

North America$4.6B65%+30.0%

Europe$814M11%+16.5%

China$813M11%+19.6%

Other Countries$467M7%−1.9%

Japan$390M5%−0.1%

Share is of the FY2026 total; the last column is the change from FY2025.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q1 FY2027 (Jul to Sep 2026) compared with Q1 FY2026 (Jul to Sep 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q1 FY2027Q1 FY2026

Company

Revenue

$2.4B Q1 FY2027

$1.6B Q1 FY2026

49.9% increase

Net income

$385M Q1 FY2027

$226M Q1 FY2026

69.9% increase

Source: Coherent 10-Q for the quarter ended Sep 30, 2026, filed Nov 4, 2026

By segment

Datacenter and Communications

$2.0B Q1 FY2027

$1.1B Q1 FY2026

79.1% increase

Industrial

$419M Q1 FY2027

$491M Q1 FY2026

14.8% decrease

Source: Coherent 10-Q for the quarter ended Sep 30, 2026, filed Nov 4, 2026

Cash & equivalents $1.6B at Sep 30, 2026, vs $1.2B at FY2026 end.
Total debt $4.0B at Sep 30, 2026, vs $3.2B at FY2026 end.
Operating cash flow, first 3 months of fiscal 2027: −$93M vs $46M a year earlier.

The bull case and the bear case

The bull case

Revenue rose 22.5% in FY2026 to $7.1B, from $5.8B a year earlier. 10-K, FY2026
Net income rose 1530.7% in FY2026 to $805M, from $49M. 10-K, FY2026
Total debt fell 12.6% in FY2026 to $3.2B. 10-K, FY2026
Revenue in the quarter ended Sep 30, 2026 was $2.4B, up 49.9% on a year earlier. 10-Q, quarter ended Sep 30, 2026

The bear case

Operating cash flow fell 87.5% in FY2026 to $80M. 10-K, FY2026
Diluted shares rose 26.3% in FY2026, which spreads profit across more shares. 10-K, FY2026
Industrial revenue fell 10.3% in FY2026 to $1.8B. 10-K, FY2026
Other Countries revenue fell 1.9% in FY2026 to $467M. 10-K, FY2026

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

Coherent is in the electronic components industry, part of the information technology sector. The SEC files it under Optical Instruments & Lenses.

Coherent reports 2 segments: Datacenter and Communications and Industrial.

Its fiscal year ends in June; the latest, FY2026, ended Jun 30, 2026.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the electronic components industry. They are not a summary of Coherent’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

CompetitionTechnology markets move fast, and rivals large and small can change prices or products.
Customer demandSpending by customers on technology rises and falls with their budgets and the economy.
Security and privacyCyberattacks, outages and data-privacy rules can raise costs or harm customer trust.
Supply and tradeReliance on suppliers and exposure to tariffs or export rules can limit what it can sell or build.
Intellectual propertyPatent claims and licensing disputes can lead to costs or limits on products.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$	FY2024	FY2025	FY2026
Revenue	$4.7B	$5.8B	$7.1B
Net income	−$156M	$49M	$805M
Operating cash flow	$546M	$634M	$80M
Cash & equivalents (year end)	$926M	$909M	$1.2B
Total debt (year end)	$4.1B	$3.7B	$3.2B
Diluted shares	152M	155M	195M

Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
Total debt: The current part of long-term debt plus long-term debt, at carrying value.
Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator

Explainers for this page

Plain-English guides to terms this file uses, with real numbers from filings.

About these numbers

Coherent names its fiscal year by the calendar year in which it ends, so FY2026 is the year that ended Jun 30, 2026.

Recent filings

Form	Filed	Period
10-Q	Nov 4, 2026	Sep 30, 2026
DEF 14A	Oct 9, 2026	Nov 18, 2026
10-K	Aug 14, 2026	Jun 30, 2026

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Common questions about Coherent

How does Coherent make money?

Coherent's revenue was $7.1B in fiscal 2026. By segment in FY2026: Datacenter and Communications (74%) and Industrial (26%), as shares of total revenue. Total revenue was $7.1B. Source: 10-K for fiscal 2026, filed Aug 14, 2026.

What was Coherent's revenue in fiscal 2026?

$7.1B of revenue for the fiscal year ended Jun 30, 2026, up 22.5% from $5.8B in fiscal 2025. Fiscal 2024 was $4.7B. Source: 10-K for fiscal 2026, filed Aug 14, 2026.

Is Coherent profitable?

Coherent reported net income of $805M for fiscal 2026, up 1530.7% from $49M in fiscal 2025. That is a profit under US accounting rules (GAAP). In the quarter ended Sep 30, 2026, net income was $385M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2026, filed Aug 14, 2026.

What did Coherent report in its latest quarterly filing?

Revenue was $2.4B in the quarter ended Sep 30, 2026, up 49.9% from $1.6B a year earlier. Net income was $385M, up 69.9% from $226M. Source: 10-Q for the quarter ended Sep 30, 2026, filed Nov 4, 2026.

How much cash and debt does Coherent have?

Coherent had $1.6B in cash and cash equivalents and $4.0B of total debt on Sep 30, 2026. Total debt here is the current part of long-term debt plus long-term debt, at carrying value. Source: 10-Q filed Nov 4, 2026.

What are the main risks Coherent faces?

Coherent's own risk factors are in Item 1A of its 10-K for fiscal 2026, filed Aug 14, 2026. Risks that are common among companies in the electronic components industry include Competition; customer demand; security and privacy; supply and trade; intellectual property. The first: Technology markets move fast, and rivals large and small can change prices or products. Source: 10-K, Item 1A Risk Factors.

Where do these Coherent numbers come from?

From Coherent's own SEC filings: the 10-K for fiscal 2026 (filed Aug 14, 2026) and the 10-Q for the quarter ended Sep 30, 2026 (filed Nov 4, 2026), read through the SEC's public XBRL data. Each number on this page links to its filing. Methodology explains how fiscal years and missing numbers are handled.

Tracked funds that report owning Coherent

Whale Rock Capital: 1,222,035 shares, reported value $482.1M at Jun 30, 2026 (+25.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Citadel Advisors: 161,095 shares, reported value $63.5M at Jun 30, 2026 (−85.1% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
Millennium Management: 83,939 shares, reported value $33.1M at Jun 30, 2026 (−90.6% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Point72 Asset Management: 42,993 shares, reported value $17.0M at Jun 30, 2026 (−92.6% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Two Sigma Investments: 28,944 shares, reported value $11.4M at Jun 30, 2026 (+2,555.4% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Bridgewater Associates: 15,206 shares, reported value $6.0M at Jun 30, 2026 (−90.7% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Maverick Capital: 2,318 shares, reported value $0.9M at Jun 30, 2026 (−66.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Baillie Gifford: 162 shares, reported value $0.0M at Sep 30, 2026 (new in this filing). Form 13F filed Nov 9, 2026.

From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.

Disclosures

Editor holdings in COHR: The editor holds no position in Coherent (COHR). As of Nov 11, 2026.
Trading rule: The editor does not buy or sell COHR from 3 days before to 3 days after this page is published or substantively updated.
Compensation: Nobody paid for this page. No affiliate links on this page.
Sources: The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated: Nov 6, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold COHR, and it doesn't consider your situation.

Compare with peers

Company	Fiscal year	Revenue	Revenue growth	Net income
CoherentCOHR	FY2026	$7.1B	+22.5%	$805M
AmphenolAPH	FY2025	$23.1B	+51.7%	$4.3B
CorningGLW	FY2025	$15.6B	+19.1%	$1.6B
NvidiaNVDA	FY2026	$215.9B	+65.5%	$120.1B

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.