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Coherent, Inc. (COHR) 财务分析 | 估值·财报 | 100Baggers.club

Coherent, Inc.

COHR

Coherent, Inc. provides lasers, laser-based technologies, and laser-based system solutions for a range of commercial, industrial, and scientific research applications. It operates in two segments, Original Equipment Manufacturers (OEM) Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products. Its products are used for applications in microelectronics, materials processing, OEM components and instrumentation, and scientific research and government programs. The company markets its products through a direct sales force in the United States, as well as through direct sales personnel and independent representatives internationally. Coherent, Inc. was founded in 1966 and is headquartered in Santa Clara, California. As of July 1, 2022, Coherent, Inc. operates as a subsidiary of II-VI Incorporated.

深度研究阅读完整报告

Coherent(COHR)股票深度分析 — 41倍去杠杆：市场给三引擎混合体打了一个AI平均分

市场正用一个模糊的AI平均分，粗暴地为这家三引擎混合体定价，却完全忽视了其背后高达41倍的惊人去杠杆过程，以及由此释放的巨大价值重估空间。

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利润瀑布图分析

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现金流瀑布图

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流入

流出

小计

起止点

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📊 估值

关键估值指标

EV/EBITDA (TTM)

i

Enterprise Value, EBITDA and Ratio

EV/EBIT (TTM)

i

Enterprise Value, EBIT and Ratio

EV/Sales (TTM)

i

Enterprise Value, Revenue and Ratio

P/E Ratio (TTM)

i

Market Cap, Net Income and Ratio

P/B Ratio (Quarterly)

i

Market Cap, Book Value and Ratio

FCF Yield (TTM)

i

FCF, Enterprise Value and Yield

PR Profit Ratio (PPM)

i

PE Ratio, ROE and Profit Ratio (PR = PE / ROE)

📈 成长

营收、盈利和每股成长指标

Revenue (Quarterly)

i

Quarterly Revenue

Revenue/Share (Quarterly)

i

Revenue Per Share

Net Income (Quarterly)

i

Quarterly Net Income

EPS (Quarterly)

i

Earnings Per Share

Gross Profit/Share (Quarterly)

i

Gross Profit Per Share

OCF/Share (Quarterly)

i

Operating Cash Flow Per Share

FCF/Share (Quarterly)

i

Free Cash Flow Per Share

Operating Leverage (YoY)

i

Change in Operating Income / Change in Revenue

💰 盈利

利润率和净资产收益率

Gross Margin (TTM)

i

Revenue, Gross Profit and Gross Margin

Operating Margin (TTM)

i

Revenue, Operating Income and Operating Margin

Net Profit Margin (TTM)

i

Revenue, Net Income and Net Profit Margin

ROE (TTM)

i

Equity, Net Income and Return on Equity

ROA (TTM)

i

Assets, Net Income and Return on Assets

ROTCE - Return on Tangible Common Equity (TTM)

i

Net Income, Tangible Common Equity and ROTCE

OCF Margin (TTM)

i

Revenue, Operating Cash Flow and OCF Margin

FCF Margin (TTM)

i

Revenue, Free Cash Flow and FCF Margin

💵 现金质量

现金流质量和转换指标

OCF/NI Ratio (TTM)

i

Operating Cash Flow, Net Income and Ratio

FCF/NI Ratio (TTM)

i

Free Cash Flow, Net Income and Ratio

OCF/Capex (TTM)

i

Operating Cash Flow, Capex and Coverage Ratio

OCF/SBC (TTM)

i

Operating Cash Flow, SBC and Coverage Ratio

🛡️ 财务韧性

债务、流动性和财务健康度

Debt/Equity (quarterly)

i

Total Debt, Total Equity and Debt/Equity Ratio

EBITDA/Net Debt (TTM)

i

EBITDA, Net Debt and Coverage Ratio

Interest Coverage (TTM)

i

EBIT, Interest Expense and Coverage Ratio

Current Ratio (quarterly)

i

Current Assets, Current Liabilities and Current Ratio

Quick Ratio (quarterly)

i

Quick Assets, Current Liabilities and Quick Ratio

Altman Z-Score

i

Financial Distress Prediction Model

⚙️ 运营与资本效率

资产利用率、营运资本、ROIC和资本效率

ROIC (TTM)

i

NOPAT, Invested Capital and Return on Invested Capital

ROCE - Return on Capital Employed (TTM)

i

EBIT, Capital Employed and Return on Capital Employed

Asset Turnover (TTM)

i

Revenue, Total Assets and Turnover Ratio

CapEx/Depreciation - Investment Intensity (TTM)

i

CapEx, Depreciation and Ratio (>1=Expansion, <1=Contraction)

R&D/Gross Profit - R&D Intensity (TTM)

i

R&D Expenses, Gross Profit and Ratio

SG&A/Revenue - SG&A Efficiency (TTM)

i

SG&A Expenses, Revenue and Ratio

Cash Conversion Cycle (TTM)

i

DSO + DIO - DPO (in days)

DSO - Days Sales Outstanding (TTM)

i

Average Receivables and Days Sales Outstanding

DIO - Days Inventory Outstanding (TTM)

i

Average Inventory and Days Inventory Outstanding

DPO - Days Payables Outstanding (TTM)

i

Average Payables and Days Payables Outstanding

Goodwill/Assets (Quarterly)

i

Goodwill as % of Total Assets

🎁 股东回报

股息、股票回购、稀释和内部人交易活动

Dividend Yield (TTM)

i

Dividend Per Share, Share Price and Dividend Yield

Buyback Yield (TTM)

i

Net Buyback and Buyback Yield

Buyback Yield (3 Years)

i

Net Buyback 3Y and Buyback Yield 3Y

Dilution Rate (1 Year)

i

Current Shares, 1Y Ago Shares and Dilution Rate

Dilution Rate (3 Years)

i

Current Shares, 3Y Ago Shares and Dilution Rate

SBC Offset Rate (TTM)

i

Buyback / Stock-Based Comp and SBC Ratio

Insider Activity Rate (TTM)

i

Insider Net Buying and Activity Rate

P

盈利能力指标

Gross Profit Margini毛利率

37.66%

毛利润 = $0.68B

营业收入 = $1.81B

Operating Profit Margini营业利润率

8.23%

营业利润 = $0.15B

营业收入 = $1.81B

EBITDA MarginiEBITDA利润率

10.21%

EBITDA = $0.18B

营业收入 = $1.81B

EBIT MarginiEBIT利润率

7.74%

EBIT = $0.18B

营业收入 = $1.81B

Net Profit Margini净利率

10.59%

净利润 = $0.19B

营业收入 = $1.81B

Pretax Profit Margini税前利润率

10.21%

税前利润 = $0.18B

营业收入 = $1.81B

E

运营效率指标

Interest Coveragei利息保障倍数

2.13x

EBIT (TTM) = $0.72B

利息费用 (TTM) = $0.34B

2.0x

1.6x

1.9x

2.1x

2.1x

SG&A / Revenuei销管费率

14.82%

销售及管理费用 = $0.27B

营业收入 = $1.81B

R&D / Revenuei研发占比

10.30%

研发费用 = $0.19B

营业收入 = $1.81B

R

回报率指标 (TTM)

ROAi总资产回报率

0.01%

净利润 = $0.47B

平均总资产 = $8650.57B

ROEi净资产收益率

0.01%

净利润 = $0.47B

平均股东权益 = $5342.40B

ROICi投入资本回报率

5.39%

NOPAT (TTM) = $0.61B

平均投入资本 = $11.28B

(NOPAT = 营业利润 × (1 - 有效税率))

(平均投入资本 = (本期IC + 去年同期IC) / 2)

Revenue Growthi营收增长率

20.54%

当期营收 = $1.81B

去年同期营收 = $1.50B

+23.9%

+16.4%

+17.3%

+17.5%

+20.5%

Operating Cash Flow/Sharei每股经营现金流

$1.57

经营现金流 = $0.24B

流通股数 = 0.16B

$4.29

$4.07

$3.39

$2.55

$1.57

综合分析

利润表项目	同比增长	当季数据	趋势
营业收入	+20.5%	$1.81B	↑
毛利	+28.8%	$0.68B, 37.66%	↑
营业利润	+2.1%	$0.15B, 8.23%	↑
EBITDA	-36.9%	$0.18B, 10.21%	↓
税前利润	+1763.5%	$0.18B, 10.21%	↑
净利润	+1117.6%	$0.19B, 10.59%	↑
稀释每股收益	+981.8%	0.97	↑

L

流动性指标

Current Ratioi流动比率

3.05

健康

流动资产 = $6.45B

流动负债 = $2.11B

Quick Ratioi速动比率

1.75

健康

速动资产 = $4.32B

流动负债 = $2.11B

Cash Ratioi现金比率

1.14

健康

现金及等价物 = $2.42B

流动负债 = $2.11B

Cash Ratio = (Cash + Short-term Investments) / Current Liabilities

L

杠杆指标

Debt to Equityi债务权益比

0.32

健康

总债务 = $3.43B

总权益 = $10.68B

Liabilities to Assetsi资产负债率 (总负债)

36.3%

健康

总负债 = $6.27B

总资产 = $17.29B

Equity Multiplieri权益乘数

1.62

健康

总资产 = $17.29B

总权益 = $10.68B

E

效率指标

Asset Turnoveri总资产周转率

0.00

关注

营收 (TTM) = $6.60B

平均总资产 = $8650.57B

Inventory Turnoveri存货周转率

2.09

关注

营业成本 (TTM) = $4.16B

平均存货 = $1.99B

Receivables Turnoveri应收账款周转率

5.77

正常

营收 (TTM) = $6.60B

平均应收账款 = $1.14B

S

偿债能力

Interest Coveragei利息保障倍数

2.13

关注

EBIT (TTM) = $0.72B

利息费用 (TTM) = $0.34B

Net Debt to EBITDAi净债务/EBITDA

1.60

正常

净债务 = $1.83B

EBITDA (TTM) = $1.15B

Debt Service Coveragei偿债覆盖率

1.35

关注

经营现金流 (TTM) = $0.24B

债务偿付 = $0.18B

V

价值指标

Goodwill %i商誉占比

25.5%

关注

商誉 = $4.40B

总资产 = $17.29B

Working Capital Ratioi营运资本比率

0.25

健康

营运资本 = $4.33B

总资产 = $17.29B

C

现金流指标

经营现金流 TTMi

$0.24B

自由现金流 TTMi

$-0.69B

FCF = OCF - CapEx

经营现金流 (TTM) = $0.24B

资本支出 (TTM) = $-0.94B

自由现金流收益率i

-1.29%

关注

FCF (TTM) = $-0.69B

市值 = $53.60B

经营现金流/销售比i

3.70%

关注

经营现金流 (TTM) = $0.24B

营业收入 (TTM) = $6.60B

Q

质量与覆盖指标

收益质量i

0.52x

关注

经营现金流 (TTM) = $0.24B

净利润 (TTM) = $0.47B

现金流/债务比i

0.07x

关注

经营现金流 (TTM) = $0.24B

总负债 = $3.43B

短期覆盖率i

0.12x

关注

经营现金流 (TTM) = $0.24B

流动负债 = $2.11B

资本支出覆盖率i

0.26x

关注

经营现金流 (TTM) = $0.24B

资本支出 (TTM) = $0.94B

E

效率指标

⚡ 比率按USD计算，去除汇率影响

自由/经营现金流比i

-283.40%

关注

自由现金流 (TTM) = $-0.69B

经营现金流 (TTM) = $0.24B

资本支出/营收比i

14.17%

关注

资本支出 (TTM) = $0.94B

营业收入 (TTM) = $6.60B

净债务/EBITDAi

1.60

正常

净债务 = $1.83B

EBITDA (TTM) = $1.15B

G

增长指标

经营现金流增长率i

-93.89%

关注

当期OCF (TTM) = $0.01B

上期OCF = $0.16B

股东盈余i

$0.19B

健康

净利润 (TTM) = $0.47B

+ 折旧摊销 (TTM) = $0.65B

- 资本支出 (TTM) = $-0.94B