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

Coherent Corp. and Keysight Technologies Inc. are both Scientific & Technical Instruments companies. Coherent Corp. and Keysight Technologies Inc. are of similar size ($61.0B and $58.5B). Keysight Technologies Inc. trades at the lower P/E: 49.3× against 68.0×. Keysight Technologies Inc. grew revenue faster over the last twelve months: 25.5% against 22.5%. Keysight Technologies Inc. has the higher net margin (19.1% vs 10.8%) and the higher return on invested capital (12.9% vs 4.21%). Across the 21 metrics below, Keysight Technologies Inc. leads on 13 and Coherent Corp. on 8.

Valuation

Metric COHR KEYS Scientific & Technical Instruments median
P/E 68.01 49.27 35.93
P/S 7.37 9.41 4.46
P/B 4.67 9.42 3.00
Price to free cash flow n/m 41.51 24.96
EV/EBITDA 38.94 35.83 19.60
EV/Sales 7.54 9.40 4.98
Earnings yield 1.47% 2.03% 0.53%
Free cash flow yield (1.95%) 2.41% 1.12%

Profitability

Metric COHR KEYS Scientific & Technical Instruments median
Gross margin 37.50% 64.69% 45.75%
Operating margin 11.77% 20.25% 7.34%
Net margin 10.82% 19.14% 1.56%
Free cash flow margin (14.38%) 22.67% 5.84%
Return on equity 8.93% 20.59% 2.87%
Return on assets 4.64% 11.16% 0.99%
Return on invested capital 4.21% 12.85% 3.88%

Growth

Metric COHR KEYS Scientific & Technical Instruments median
Revenue growth (TTM) 22.51% 25.54% 11.28%
EPS growth (last fiscal year) 892.31% 39.32% —
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 0.29 0.38 0.00
Current ratio 2.43 2.02 2.24
Net debt to EBITDA 0.87 0.57 0.44

Dividend

Metric COHR KEYS Scientific & Technical Instruments median
Dividend yield 0.10% — 0.72%
Payout ratio 0.00 0.00 0.00

Size

Metric COHR KEYS Scientific & Technical Instruments median
Market cap 58.46b 61.04b 483.67m

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