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 $58.2B against $49.4B — 1.2× the size. Keysight Technologies Inc. trades at the lower P/E: 45.1× against 53.5×. 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 12 and Coherent Corp. on 9.

Valuation

Metric COHR KEYS Scientific & Technical Instruments median
P/E 53.54 45.06 33.25
P/S 5.80 8.60 4.50
P/B 3.67 8.62 2.90
Price to free cash flow n/m 37.96 24.81
EV/EBITDA 30.84 32.76 17.92
EV/Sales 5.97 8.59 4.71
Earnings yield 1.87% 2.22% 0.60%
Free cash flow yield (2.48%) 2.63% 1.27%

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% 11.15%
EPS growth (last fiscal year) 892.31% 39.32% 11.47%
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 — — 0.58%
Payout ratio — — 0.36

Size

Metric COHR KEYS Scientific & Technical Instruments median
Market cap 49.35b 58.24b 444.25m

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