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Coherent (COHR) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Nov 4, 2026 · Coherent (COHR) Q1 FY27 earnings results →

Q1 FY27 Revenue up 50% year over year to $2.4B · 16¢ of every $1 of revenue kept as net profit · operating margin 15.1%

Coherent made $2.4B in Q1 FY27 (+50% Y/Y): Datacenter & Communications $2.0B, Industrial $419M. Operating margin 15.1%, net earnings $385M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$2.4B
Year over year+50%
Operating margin15.1%
Net earnings$385M
Operating cash flow−$92.7M

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Coherent Q1 FY27 revenue breakdown: Sankey diagram of revenue (Datacenter & Communications, Industrial), costs, profit and cash flow
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What changed this quarter

Revenue was $2.4B in Q1 FY27, up 50% year over year and up 16% from the previous quarter. Datacenter & Communications was the largest line at 82% of revenue. Datacenter & Communications added $0.86B year over year (up 79%), 109% of the total change. Industrial declined 15%.

Operating profit was $0.36B, a 15.1% margin (up 1.4 points year over year). Of the extra revenue versus Q1 FY26, 18% reached operating profit, above the 14% margin then. Total costs grew 47% against revenue growth of 50%. Net earnings were $0.38B, up 70% year over year ($0.38B including minority interests, which bore $3.1M of losses). The effective tax rate was -6.4%.

Operating cash flow was −$0.09B. Non-cash charges added back $0.08B of depreciation and $0.07B of share-based compensation. Working capital and other items used $0.63B. Capital expenditures of $0.78B exceeded it, leaving free cash flow of −$0.87B.

Quarterly history

Coherent revenue by quarterCoherent revenue by quarter$1.5BQ3 FY25$1.5BQ4 FY25$1.6BQ1 FY26$1.7BQ2 FY26$1.8BQ3 FY26$2.0BQ4 FY26$2.4BQ1 FY27
Coherent net earnings by quarterCoherent net earnings by quarter$15.7MQ3 FY25−$98.1MQ4 FY25$226MQ1 FY26$147MQ2 FY26$191MQ3 FY26$241MQ4 FY26$385MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QNov 4, 2026$2.4B+50%15.1%$385M−$92.7M
Q4 FY2610-KAug 14, 2026$2.0B+34%13.6%$241M$69.5M
Q3 FY2610-QMay 6, 2026$1.8B+20%10.2%$191M−$93.8M
Q2 FY2610-QFeb 4, 2026$1.7B+18%10.0%$147M$57.9M
Q1 FY2610-QNov 5, 2025$1.6B+17%13.7%$226M$46.0M
Q4 FY2510-KAug 15, 2025$1.5B+16%-4.1%−$98.1M$130M
Q3 FY2510-QMay 7, 2025$1.5B+24%0.7%$15.7M$163M

Charts

Coherent: revenue growth, year over year and quarter over quarterCoherent: revenue growth, year over year and quarter over quarterY/YQ/Q+24%Q3 FY25+16%+2%Q4 FY25+17%+3%Q1 FY26+18%+7%Q2 FY26+20%+7%Q3 FY26+34%+13%Q4 FY26+50%+16%Q1 FY27
Latest (Q1 FY27): Y/Y +50%, Q/Q +16%.
Coherent: where the cash came from (+) and went (−), TTM to Q1 FY27Coherent: where the cash came from (+) and went (−), TTM to Q1 FY27Other financing$2.8BCapital spending−$1.8BCash drawn (+) / kept (−)−$583MOther investing−$183MTaxes on employees’ shares−$169MNet borrowing (+) / repaid (−)−$122MOperating cash flow−$59.1MShares issued$52.0MAsset & business sales$45.9MExchange rates−$9.2M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Coherent: profit against cash, quarter by quarterCoherent: profit against cash, quarter by quarterNet incomeOperating cash flow$102M$187MQ2 FY25$1.8M$163MQ3 FY25−$98.1M$130MQ4 FY25$225M$46.0MQ1 FY26$144M$57.9MQ2 FY26$182M−$93.8MQ3 FY26$236M$69.5MQ4 FY26$382M−$92.7MQ1 FY27
Latest (Q1 FY27): Net income $382M, Operating cash flow −$92.7M.
Coherent: diluted shares by fiscal yearCoherent: diluted shares by fiscal year115MFY21117MFY22138MFY23152MFY24155MFY25195MFY26
+69.9% since FY21: more shares outstanding (issuance, stock pay).
Coherent: long-term debt falling due (FY26)Coherent: long-term debt falling due (FY26)$7.9M2027$34.4M2028$93.6M2029$2.1B2030$986M2031
Cash $1.2B, short-term investments $825M, long-term debt $3.2B at 2026-06-30.
Coherent in its industry: growth against margin (5 companies, SIC 3827)Coherent in its industry: growth against margin (5 companies, SIC 3827)revenue growth, year over year →↑ operating marginmedian +26%median 14%KLACOPXSOPTXMSAICOHR (+50%, 15%)
Optical Instruments & Lenses; dot size is quarterly revenue; dashed lines are the industry's medians.

In supply chains and themes

AI data-center capex money flowAI data-center capex · Optics & interconnect

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About Coherent

Coherent Corp. (“Coherent,” the “Company,” “we,” “us,” or “our”), is a vertically integrated manufacturing company that develops, manufactures, and markets lasers, transceivers, and other optical and optoelectronic devices, modules, and systems, as well as engineered materials, for use in the data center, communications and industrial markets. Our headquarters are located at 375 Saxonburg Boulevard, Saxonburg, Pennsylvania 16056, USA. Our telephone number is +1-724-352-4455. Reference to “Coherent,” the “Company,” “we,” “us,” or “our” in this Annual Report on Form 10-K, unless the context requires otherwise, refers to Coherent Corp. and its wholly owned subsidiaries.

In its own words, from its 10-K, filed Aug 14, 2026.

Coherent against its Optical Instruments & Lenses peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +50% against the peers' median +26%. Operating margin: 15.1% against the peers' median 14.3%.

CompanyQuarterRevenueY/YOp. margin
COHR CoherentQ1 FY27$2.4B+50%15.1%
KLAC KLAQ1 FY27$4.1B+29%44.1%
OPXS Optex Systems HoldingsQ3 FY26$9.7M-12%14.3%
OPTX Syntec Optics HoldingsQ2 2026$8.3M+26%3.9%
MSAI MultiSensor AI HoldingsQ2 2026$1.7M+20%-153.5%

Source: Coherent 10-Q on SEC EDGAR · CIK 820318 · Optical Instruments & Lenses

Guidance and outlook

Coherent Revenue: guidance against what was reportedCoherent Revenue: guidance against what was reportedguided rangereported (above / within / below)Q3 FY25$1.5BQ4 FY25$1.5BQ1 FY26$1.6BQ2 FY26$1.7BQ3 FY26$1.8BQ4 FY26$2.0BQ1 FY27$2.4BQ2 FY27
Met or beat 7 of 7 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Coherent: what its forward-looking statements are about (10-Q filed 2026-11-04)Coherent: what its forward-looking statements are about (10-Q filed 2026-11-04)Costs3Other2People1Capital spending1
7 statements; tone +0.00 (−1 all cautious, +1 all confident); 0 hedged.
Coherent: outlook statements against the filing beforeCoherent: outlook statements against the filing beforeConfident1Cautious1

13F: who owns COHR and who is buying

Largest holders of COHR (13F)Largest holders of COHR (13F)BlackRock$6.6BVanguard Capital Management LLC$5.0BFMR LLC$4.3BVanguard Portfolio Management LLC$4.0BState Street$3.4BNVIDIA$3.1BVanguard Group$3.0BInvesco$2.9BGeode Capital Management, LLC$2.1BCapital International Investors$1.4B
Funds' net buying of COHR by quarter (13F)Funds' net buying of COHR by quarter (13F)−$11.5M2024-09$37.5M2024-12−$5.8M2025-03$132M2025-06$193M2025-09$3.4B2025-12$1.2B2026-03−$3.1B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on COHR

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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中文版：Coherent（COHR）财报

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