COHERENT CORP - COHR 6 07/01/23 (IIVI) Fundamental Analysis & Valuation

NYSE:IIVI • US19247G2066

227.08 USD
+11.82 (+5.49%)
Last: Jun 30, 2023, 08:21 PM
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This IIVI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

Overall IIVI gets a fundamental rating of 4 out of 10. We evaluated IIVI against 124 industry peers in the Electronic Equipment, Instruments & Components industry. While IIVI seems to be doing ok healthwise, there are quite some concerns on its profitability. IIVI shows excellent growth, but is valued quite expensive already.


Dividend Valuation Growth Profitability Health

3

1. IIVI Profitability Analysis

1.1 Basic Checks

  • In the past year IIVI was profitable.
  • IIVI had a positive operating cash flow in the past year.
IIVI Yearly Net Income VS EBIT VS OCF VS FCFIIVI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 0 200M 400M

1.2 Ratios

  • The profitability ratios for IIVI are negative, so there is not much use analyzing them.
  • IIVI has a Return On Invested Capital (1.87%) which is in line with its industry peers.
  • IIVI had an Average Return On Invested Capital over the past 3 years of 4.47%. This is below the industry average of 8.86%.
Industry RankSector Rank
ROA N/A
ROE N/A
ROIC 1.87%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)4.47%
ROIC(5y)6.09%
IIVI Yearly ROA, ROE, ROICIIVI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 0 2 -2 4 6 8 10

1.3 Margins

  • In the last couple of years the Profit Margin of IIVI has declined.
  • IIVI has a better Operating Margin (6.00%) than 71.32% of its industry peers.
  • IIVI's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 33.06%, IIVI is in the better half of the industry, outperforming 60.47% of the companies in the same industry.
  • In the last couple of years the Gross Margin of IIVI has remained more or less at the same level.
Industry RankSector Rank
OM 6%
PM (TTM) N/A
GM 33.06%
OM growth 3Y0.85%
OM growth 5Y1.69%
PM growth 3Y-13.99%
PM growth 5Y-12.53%
GM growth 3Y-0.09%
GM growth 5Y-0.92%
IIVI Yearly Profit, Operating, Gross MarginsIIVI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 0 10 20 30

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4

2. IIVI Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), IIVI is destroying value.
  • IIVI has more shares outstanding than it did 1 year ago.
  • The debt/assets ratio for IIVI is higher compared to a year ago.
IIVI Yearly Shares OutstandingIIVI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 20M 40M 60M 80M 100M
IIVI Yearly Total Debt VS Total AssetsIIVI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2B 4B 6B

2.2 Solvency

  • An Altman-Z score of 3.57 indicates that IIVI is not in any danger for bankruptcy at the moment.
  • The Altman-Z score of IIVI (3.57) is better than 60.47% of its industry peers.
  • The Debt to FCF ratio of IIVI is 34.44, which is on the high side as it means it would take IIVI, 34.44 years of fcf income to pay off all of its debts.
  • IIVI has a Debt to FCF ratio (34.44) which is comparable to the rest of the industry.
  • A Debt/Equity ratio of 0.58 indicates that IIVI is somewhat dependend on debt financing.
  • With a Debt to Equity ratio value of 0.58, IIVI is not doing good in the industry: 83.72% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.58
Debt/FCF 34.44
Altman-Z 3.57
ROIC/WACC0.2
WACC9.56%
IIVI Yearly LT Debt VS Equity VS FCFIIVI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 0 1B 2B 3B 4B

2.3 Liquidity

  • IIVI has a Current Ratio of 3.08. This indicates that IIVI is financially healthy and has no problem in meeting its short term obligations.
  • With a decent Current ratio value of 3.08, IIVI is doing good in the industry, outperforming 62.02% of the companies in the same industry.
  • IIVI has a Quick Ratio of 1.82. This is a normal value and indicates that IIVI is financially healthy and should not expect problems in meeting its short term obligations.
  • IIVI has a Quick ratio (1.82) which is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 3.08
Quick Ratio 1.82
IIVI Yearly Current Assets VS Current LiabilitesIIVI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 1B 2B 3B 4B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

7

3. IIVI Growth Analysis

3.1 Past

  • The earnings per share for IIVI have decreased by -1.93% in the last year.
  • IIVI shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 18.68% yearly.
  • The Revenue has grown by 49.56% in the past year. This is a very strong growth!
  • The Revenue has been growing by 27.82% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-1.93%
EPS 3Y13.27%
EPS 5Y18.68%
EPS Q2Q%-38.95%
Revenue 1Y (TTM)49.56%
Revenue growth 3Y34.52%
Revenue growth 5Y27.82%
Sales Q2Q%49.84%

3.2 Future

  • IIVI is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 11.68% yearly.
  • Based on estimates for the next years, IIVI will show a quite strong growth in Revenue. The Revenue will grow by 17.99% on average per year.
EPS Next Y2.69%
EPS Next 2Y11.05%
EPS Next 3Y15.16%
EPS Next 5Y11.68%
Revenue Next Year65.72%
Revenue Next 2Y33.82%
Revenue Next 3Y25.01%
Revenue Next 5Y17.99%

3.3 Evolution

  • Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
  • Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
IIVI Yearly Revenue VS EstimatesIIVI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2B 4B 6B
IIVI Yearly EPS VS EstimatesIIVI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2 4 6

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Find the best growth stocksShow best growing peers

2

4. IIVI Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 63.97, IIVI can be considered very expensive at the moment.
  • Compared to the rest of the industry, the Price/Earnings ratio of IIVI is on the same level as its industry peers.
  • IIVI's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.74.
  • The Price/Forward Earnings ratio is 49.50, which means the current valuation is very expensive for IIVI.
  • IIVI's Price/Forward Earnings ratio is in line with the industry average.
  • IIVI is valuated expensively when we compare the Price/Forward Earnings ratio to 24.82, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 63.97
Fwd PE 49.5
IIVI Price Earnings VS Forward Price EarningsIIVI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

  • IIVI's Enterprise Value to EBITDA ratio is in line with the industry average.
  • IIVI's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. IIVI is cheaper than 60.47% of the companies in the same industry.
Industry RankSector Rank
P/FCF 246.31
EV/EBITDA 41.79
IIVI Per share dataIIVI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • IIVI's earnings are expected to grow with 15.16% in the coming years. This may justify a more expensive valuation.
PEG (NY)23.79
PEG (5Y)3.42
EPS Next 2Y11.05%
EPS Next 3Y15.16%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. IIVI Dividend Analysis

5.1 Amount

  • IIVI does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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IIVI Fundamentals: All Metrics, Ratios and Statistics

COHERENT CORP - COHR 6 07/01/23

NYSE:IIVI (6/30/2023, 8:21:10 PM)

227.08

+11.82 (+5.49%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)05-10
Earnings (Next)08-22
Inst Owners0.01%
Inst Owner Change-14.64%
Ins Owners0.76%
Ins Owner Change0%
Market Cap31.65B
Revenue(TTM)4.84B
Net Income(TTM)-162.49M
Analysts74.55
Price Target203.06 (-10.58%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP-16.99%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-15.25%
Min EPS beat(2)-30.58%
Max EPS beat(2)0.07%
EPS beat(4)3
Avg EPS beat(4)-1.48%
Min EPS beat(4)-30.58%
Max EPS beat(4)22.58%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-5.63%
Min Revenue beat(2)-9.14%
Max Revenue beat(2)-2.12%
Revenue beat(4)1
Avg Revenue beat(4)-3.03%
Min Revenue beat(4)-9.14%
Max Revenue beat(4)1.27%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-29.31%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-58.41%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-15.5%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 63.97
Fwd PE 49.5
P/S 6.54
P/FCF 246.31
P/OCF 53.66
P/B 4.25
P/tB N/A
EV/EBITDA 41.79
EPS(TTM)3.55
EY1.56%
EPS(NY)4.59
Fwd EY2.02%
FCF(TTM)0.92
FCFY0.41%
OCF(TTM)4.23
OCFY1.86%
SpS34.74
BVpS53.46
TBVpS-7.23
PEG (NY)23.79
PEG (5Y)3.42
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA N/A
ROE N/A
ROCE N/A
ROIC 1.87%
ROICexc 2.01%
ROICexgc 6.67%
OM 6%
PM (TTM) N/A
GM 33.06%
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)4.47%
ROIC(5y)6.09%
ROICexc(3y)6.56%
ROICexc(5y)7.9%
ROICexgc(3y)12.66%
ROICexgc(5y)13.34%
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3Y7.05%
ROICexgc growth 5Y2.62%
ROICexc growth 3Y-2.61%
ROICexc growth 5Y-1.07%
OM growth 3Y0.85%
OM growth 5Y1.69%
PM growth 3Y-13.99%
PM growth 5Y-12.53%
GM growth 3Y-0.09%
GM growth 5Y-0.92%
F-Score3
Asset Turnover0.34
Health
Industry RankSector Rank
Debt/Equity 0.58
Debt/FCF 34.44
Debt/EBITDA 5.26
Cap/Depr 83.67%
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 3.08
Quick Ratio 1.82
Altman-Z 3.57
F-Score3
WACC9.56%
ROIC/WACC0.2
Cap/Depr(3y)75.81%
Cap/Depr(5y)113.17%
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-1.93%
EPS 3Y13.27%
EPS 5Y18.68%
EPS Q2Q%-38.95%
EPS Next Y2.69%
EPS Next 2Y11.05%
EPS Next 3Y15.16%
EPS Next 5Y11.68%
Revenue 1Y (TTM)49.56%
Revenue growth 3Y34.52%
Revenue growth 5Y27.82%
Sales Q2Q%49.84%
Revenue Next Year65.72%
Revenue Next 2Y33.82%
Revenue Next 3Y25.01%
Revenue Next 5Y17.99%
EBIT growth 1Y-35.57%
EBIT growth 3Y35.66%
EBIT growth 5Y29.99%
EBIT Next Year120.78%
EBIT Next 3Y40.91%
EBIT Next 5Y25.33%
FCF growth 1Y-73.55%
FCF growth 3Y33.72%
FCF growth 5YN/A
OCF growth 1Y-5.44%
OCF growth 3Y32.29%
OCF growth 5Y28.36%

COHERENT CORP - COHR 6 07/01/23 / IIVI FAQ

What is the ChartMill fundamental rating of COHERENT CORP - COHR 6 07/01/23 (IIVI) stock?

ChartMill assigns a fundamental rating of 3 / 10 to IIVI.


Can you provide the valuation status for COHERENT CORP - COHR 6 07/01/23?

ChartMill assigns a valuation rating of 0 / 10 to COHERENT CORP - COHR 6 07/01/23 (IIVI). This can be considered as Overvalued.


How profitable is COHERENT CORP - COHR 6 07/01/23 (IIVI) stock?

COHERENT CORP - COHR 6 07/01/23 (IIVI) has a profitability rating of 1 / 10.


What are the PE and PB ratios of COHERENT CORP - COHR 6 07/01/23 (IIVI) stock?

The Price/Earnings (PE) ratio for COHERENT CORP - COHR 6 07/01/23 (IIVI) is 63.97 and the Price/Book (PB) ratio is 4.25.


Is the dividend of COHERENT CORP - COHR 6 07/01/23 sustainable?

The dividend rating of COHERENT CORP - COHR 6 07/01/23 (IIVI) is 0 / 10 and the dividend payout ratio is -16.99%.