Coherent Corp. — Earnings Quality Grade F
COHR · Technology
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 61 days, change -5 days YoY
AR growth 13.6% vs revenue growth 23.4%
Revenue 23.4%, CFFO 16.1%. Cash follows revenue
Expense Quality
Inventory 11.8% vs COGS 15.8%. Normal
CapEx growth 27.1% vs revenue 23.4%. Normal
SG&A/Gross Profit = 45.3%. Normal
Gross margin 35.2%, change +4.2pp. Stable
Cash Flow Quality
CFFO far exceeds NI (ratio 12.8x). Non-cash charges depressing profits
FCF $0.2B, FCF/NI = 3.90
Accruals ratio = -3.9%. Low accruals
Cash $0.9B covers only 23% of debt $3.9B
Balance Sheet Health
Goodwill+Intangibles $7.7B = 94% of equity. Over 50%
Debt/EBITDA = 4.4x (>4x). Financial stress
Other assets 37.3% vs revenue 23.4%. Normal
Write-offs normal
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -4% YoY. Normal
Manipulation Score
M-Score = -2.56 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25