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

USA - NYSE:IIVI - US19247G2066

227.08 USD
+11.82 (+5.49%)
Last: 6/30/2023, 8:21:10 PM
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to IIVI. IIVI was compared to 125 industry peers in the Electronic Equipment, Instruments & Components industry. IIVI has an average financial health and profitability rating. IIVI is valued quite expensive, but it does show an excellent growth.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

IIVI had positive earnings in the past year.
IIVI had a positive operating cash flow in the past year.
IIVI had positive earnings in 4 of the past 5 years.
Each year in the past 5 years IIVI had a positive operating cash flow.
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 2015 2016 2017 2018 2019 2020 2021 2022 0 200M 400M

1.2 Ratios

IIVI has negative profitability rations, so we won't be analyzing them here.
IIVI's Return On Invested Capital of 1.87% is in line compared to the rest of the industry. IIVI outperforms 51.16% of its industry peers.
The Average Return On Invested Capital over the past 3 years for IIVI is significantly below the industry average of 9.48%.
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 2015 2016 2017 2018 2019 2020 2021 2022 0 2 -2 4 6 8 10

1.3 Margins

IIVI's Profit Margin has declined in the last couple of years.
With a decent Operating Margin value of 6.00%, IIVI is doing good in the industry, outperforming 71.32% of the companies in the same industry.
IIVI's Operating Margin has improved in the last couple of years.
The Gross Margin of IIVI (33.06%) is better than 60.47% of its industry peers.
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 2015 2016 2017 2018 2019 2020 2021 2022 0 10 20 30

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4

2. Health

2.1 Basic Checks

IIVI has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it 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 2015 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 2015 2016 2017 2018 2019 2020 2021 2022 2B 4B 6B

2.2 Solvency

IIVI has an Altman-Z score of 3.57. This indicates that IIVI is financially healthy and has little risk of bankruptcy at the moment.
IIVI has a Altman-Z score of 3.57. This is in the better half of the industry: IIVI outperforms 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 of 34.44. This is comparable to the rest of the industry: IIVI outperforms 59.69% of its industry peers.
A Debt/Equity ratio of 0.58 indicates that IIVI is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.58, IIVI is doing worse than 83.72% of the companies in the same industry.
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 2015 2016 2017 2018 2019 2020 2021 2022 0 1B 2B 3B 4B

2.3 Liquidity

A Current Ratio of 3.08 indicates that IIVI has no problem at all paying its short term obligations.
IIVI's Current ratio of 3.08 is fine compared to the rest of the industry. IIVI outperforms 62.02% of its industry peers.
A Quick Ratio of 1.82 indicates that IIVI should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.82, IIVI is in line with its industry, outperforming 51.94% of the companies in the same 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 2015 2016 2017 2018 2019 2020 2021 2022 1B 2B 3B 4B

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7

3. Growth

3.1 Past

IIVI shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -1.93%.
Measured over the past years, IIVI shows a quite strong growth in Earnings Per Share. The EPS has been growing by 18.68% on average per year.
The Revenue has grown by 49.56% in the past year. This is a very strong growth!
IIVI shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 27.82% yearly.
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.
IIVI is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 17.99% yearly.
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

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
IIVI Yearly Revenue VS EstimatesIIVI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2 4 6

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 63.97, which means the current valuation is very expensive for IIVI.
Compared to the rest of the industry, the Price/Earnings ratio of IIVI is on the same level as its industry peers.
When comparing the Price/Earnings ratio of IIVI to the average of the S&P500 Index (27.20), we can say IIVI is valued expensively.
A Price/Forward Earnings ratio of 49.50 indicates a quite expensive valuation of IIVI.
Compared to the rest of the industry, the Price/Forward Earnings ratio of IIVI is on the same level as its industry peers.
IIVI is valuated expensively when we compare the Price/Forward Earnings ratio to 22.70, 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

4.2 Price Multiples

IIVI's Enterprise Value to EBITDA is on the same level as the industry average.
60.47% of the companies in the same industry are more expensive than IIVI, based on the Price/Free Cash Flow ratio.
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.
A more expensive valuation may be justified as IIVI's earnings are expected to grow with 15.16% in the coming years.
PEG (NY)23.79
PEG (5Y)3.42
EPS Next 2Y11.05%
EPS Next 3Y15.16%

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0

5. Dividend

5.1 Amount

No dividends for IIVI!.
Industry RankSector Rank
Dividend Yield N/A

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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 2023-05-10/bmo
Earnings (Next)08-22 2023-08-22/bmo
Inst Owners0.01%
Inst Owner Change-5.73%
Ins Owners0.76%
Ins Owner Change0%
Market Cap31.65B
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
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
ROICexcg growth 3Y7.05%
ROICexcg 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%