Overall COHR gets a fundamental rating of 5 out of 10. We evaluated COHR against 123 industry peers in the Electronic Equipment, Instruments & Components industry. COHR has only an average score on both its financial health and profitability. COHR is valued quite expensively, but it does show have an excellent growth rating. This makes COHR very considerable for growth investing!

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

1.1 Basic Checks

COHR had positive earnings in the past year.
COHR had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: COHR reported negative net income in multiple years.
Each year in the past 5 years COHR had a positive operating cash flow.

1.2 Ratios

COHR has a Return On Assets (0.80%) which is comparable to the rest of the industry.
With a Return On Equity value of 1.42%, COHR perfoms like the industry average, outperforming 50.41% of the companies in the same industry.
COHR's Return On Invested Capital of 4.16% is in line compared to the rest of the industry. COHR outperforms 56.91% of its industry peers.
The Average Return On Invested Capital over the past 3 years for COHR is significantly below the industry average of 8.85%.
The 3 year average ROIC (1.91%) for COHR is below the current ROIC(4.16%), indicating increased profibility in the last year.

		Industry Rank	Sector Rank
ROA	0.8%
ROE	1.42%
ROIC	4.16%

ROA(3y)-1.8%

ROA(5y)0.14%

ROE(3y)-3.42%

ROE(5y)-0.03%

ROIC(3y)1.91%

ROIC(5y)3.38%

1.3 Margins

COHR has a Profit Margin (1.96%) which is comparable to the rest of the industry.
COHR has a better Operating Margin (11.28%) than 78.05% of its industry peers.
In the last couple of years the Operating Margin of COHR has grown nicely.
With a Gross Margin value of 35.78%, COHR perfoms like the industry average, outperforming 57.72% of the companies in the same industry.
In the last couple of years the Gross Margin of COHR has remained more or less at the same level.

		Industry Rank	Sector Rank
OM	11.28%
PM (TTM)	1.96%
GM	35.78%

OM growth 3Y-9.74%

OM growth 5Y23.86%

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-2.68%

GM growth 5Y0.42%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), COHR is destroying value.
COHR has more shares outstanding than it did 1 year ago.
The number of shares outstanding for COHR has been increased compared to 5 years ago.
Compared to 1 year ago, COHR has an improved debt to assets ratio.

2.2 Solvency

COHR has an Altman-Z score of 3.97. This indicates that COHR is financially healthy and has little risk of bankruptcy at the moment.
COHR has a better Altman-Z score (3.97) than 65.04% of its industry peers.
The Debt to FCF ratio of COHR is 44.83, which is on the high side as it means it would take COHR, 44.83 years of fcf income to pay off all of its debts.
COHR has a Debt to FCF ratio (44.83) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.39 indicates that COHR is not too dependend on debt financing.
COHR has a Debt to Equity ratio of 0.39. This is in the lower half of the industry: COHR underperforms 62.60% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.39
Debt/FCF	44.83
Altman-Z	3.97

ROIC/WACC0.49

WACC8.51%

2.3 Liquidity

COHR has a Current Ratio of 2.33. This indicates that COHR is financially healthy and has no problem in meeting its short term obligations.
COHR has a Current ratio (2.33) which is comparable to the rest of the industry.
COHR has a Quick Ratio of 1.39. This is a normal value and indicates that COHR is financially healthy and should not expect problems in meeting its short term obligations.
COHR has a Quick ratio (1.39) which is comparable to the rest of the industry.

		Industry Rank	Sector Rank
Current Ratio	2.33
Quick Ratio	1.39

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

COHR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 79.46%, which is quite impressive.
Measured over the past 5 years, COHR shows a small growth in Earnings Per Share. The EPS has been growing by 6.89% on average per year.
The Revenue has grown by 20.80% in the past year. This is a very strong growth!
The Revenue has been growing by 19.54% on average over the past years. This is quite good.

EPS 1Y (TTM)79.46%

EPS 3Y-1.09%

EPS 5Y6.89%

EPS Q2Q%56.76%

Revenue 1Y (TTM)20.8%

Revenue growth 3Y20.55%

Revenue growth 5Y19.54%

Sales Q2Q%17.3%

3.2 Future

Based on estimates for the next years, COHR will show a very strong growth in Earnings Per Share. The EPS will grow by 27.97% on average per year.
Based on estimates for the next years, COHR will show a quite strong growth in Revenue. The Revenue will grow by 13.87% on average per year.

EPS Next Y44.2%

EPS Next 2Y33.95%

EPS Next 3Y27.97%

EPS Next 5YN/A

Revenue Next Year15.63%

Revenue Next 2Y14.84%

Revenue Next 3Y13.87%

Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.

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4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 52.78, COHR can be considered very expensive at the moment.
COHR's Price/Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Earnings ratio of 28.32, COHR is valued quite expensively.
A Price/Forward Earnings ratio of 32.85 indicates a quite expensive valuation of COHR.
COHR's Price/Forward Earnings ratio is in line with the industry average.
COHR's Price/Forward Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 25.57.

		Industry Rank	Sector Rank
PE	52.78
Fwd PE	32.85

4.2 Price Multiples

COHR's Enterprise Value to EBITDA is on the same level as the industry average.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of COHR is on the same level as its industry peers.

		Industry Rank	Sector Rank
P/FCF	451.96
EV/EBITDA	29.34

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
A more expensive valuation may be justified as COHR's earnings are expected to grow with 27.97% in the coming years.