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

NYSE:IIVI • US19247G2066

Current stock price

227.08 USD
+11.82 (+5.49%)
Last:

This IIVI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

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.
  • The Average Return On Invested Capital over the past 3 years for IIVI is below the industry average of 8.09%.
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

  • IIVI's Profit Margin has declined in the last couple of years.
  • Looking at the Operating Margin, with a value of 6.00%, IIVI is in the better half of the industry, outperforming 71.32% of the companies in the same industry.
  • In the last couple of years the Operating Margin of IIVI has grown nicely.
  • 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.
  • IIVI's Gross Margin has been stable in the last couple of years.
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.
  • Compared to 1 year ago, IIVI has a worse debt to assets ratio.
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.
  • IIVI has a better Altman-Z score (3.57) than 60.47% of its industry peers.
  • IIVI has a debt to FCF ratio of 34.44. This is a negative value and a sign of low solvency as IIVI would need 34.44 years to pay back of all of its debts.
  • The Debt to FCF ratio of IIVI (34.44) 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.
  • IIVI has a Current ratio of 3.08. This is in the better half of the industry: IIVI outperforms 62.02% of its industry peers.
  • 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 of 1.82. This is comparable to the rest of the industry: IIVI outperforms 51.94% of its industry peers.
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

  • IIVI shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -1.93%.
  • The Earnings Per Share has been growing by 18.68% on average over the past years. This is quite good.
  • Looking at the last year, IIVI shows a very strong growth in Revenue. The Revenue has grown by 49.56%.
  • 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

  • The Earnings Per Share is expected to grow by 11.68% on average over the next years. This is quite good.
  • 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

  • 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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2

4. IIVI Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 63.97, which means the current valuation is very expensive for IIVI.
  • IIVI's Price/Earnings is on the same level as the industry average.
  • The average S&P500 Price/Earnings ratio is at 27.47. IIVI is valued rather expensively when compared to this.
  • With a Price/Forward Earnings ratio of 49.50, IIVI can be considered very expensive at the moment.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of IIVI is on the same level as its industry peers.
  • The average S&P500 Price/Forward Earnings ratio is at 22.62. IIVI is valued rather expensively when compared to this.
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of IIVI is on the same level as its industry peers.
  • Based on the Price/Free Cash Flow ratio, IIVI is valued a bit 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 IIVI does not grow enough to justify the current Price/Earnings ratio.
  • 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%

More info and screens

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

0

5. IIVI Dividend Analysis

5.1 Amount

  • No dividends for IIVI!.
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 Number0 (-100%)
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 Fundamental Analysis 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.


Can you provide the profitability details for COHERENT CORP - COHR 6 07/01/23?

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


What is the financial health of COHERENT CORP - COHR 6 07/01/23 (IIVI) stock?

The financial health rating of COHERENT CORP - COHR 6 07/01/23 (IIVI) is 5 / 10.


What is the expected EPS growth for COHERENT CORP - COHR 6 07/01/23 (IIVI) stock?

The Earnings per Share (EPS) of COHERENT CORP - COHR 6 07/01/23 (IIVI) is expected to grow by 2.69% in the next year.