Coherent Corp. (COHR) vs Keysight Technologies Inc. (KEYS)

Coherent Corp. and Keysight Technologies Inc. are both Scientific & Technical Instruments companies. Keysight Technologies Inc. is the larger, with a market value of $44.4B against $33.4B — 1.3× the size. Keysight Technologies Inc. trades at the lower P/E: 36.9× against 38.3×. Coherent Corp. grew revenue faster over the last twelve months: 30.8% against 25.5%. Keysight Technologies Inc. has the higher net margin (19.1% vs 12.2%) and the higher return on invested capital (12.9% vs 4.79%). Across the 21 metrics below, Keysight Technologies Inc. leads on 11 and Coherent Corp. on 10.

Valuation

Metric COHR KEYS Scientific & Technical Instruments median
P/E 38.25 36.94 28.21
P/S 4.80 7.05 4.46
P/B 3.25 7.06 3.10
Price to free cash flow n/m 31.11 24.15
EV/EBITDA 24.78 26.85 18.28
EV/Sales 5.08 7.04 4.64
Earnings yield 2.61% 2.71% 0.68%
Free cash flow yield (4.86%) 3.21% 1.98%

Profitability

Metric COHR KEYS Scientific & Technical Instruments median
Gross margin 38.16% 64.69% 47.24%
Operating margin 13.44% 20.25% 8.96%
Net margin 12.16% 19.14% 1.92%
Free cash flow margin (23.31%) 22.67% 10.59%
Return on equity 10.78% 20.59% 2.66%
Return on assets 5.50% 11.16% 1.12%
Return on invested capital 4.79% 12.85% 4.79%

Growth

Metric COHR KEYS Scientific & Technical Instruments median
Revenue growth (TTM) 30.84% 25.54% 9.26%
EPS growth (last fiscal year) 892.31% 39.32% 13.24%
Revenue growth, 5-year CAGR 18.04% 4.95% 7.89%
Net income growth, 5-year CAGR 24.22% 6.27% 0.00%

Health

Metric COHR KEYS Scientific & Technical Instruments median
Debt to equity 0.34 0.38 0.00
Current ratio 2.29 2.02 2.30
Net debt to EBITDA 0.87 0.57 0.45

Dividend

Metric COHR KEYS Scientific & Technical Instruments median
Dividend yield — — 0.62%
Payout ratio — — 0.22

Size

Metric COHR KEYS Scientific & Technical Instruments median
Market cap 33.43b 44.37b 549.07m

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