Coherent Corp. (COHR) vs MKS Inc. (MKSI)

Coherent Corp. and MKS Inc. are both Scientific & Technical Instruments companies. Coherent Corp. is the larger, with a market value of $33.4B against $12.0B — 2.8× the size. MKS Inc. trades at the lower P/E: 21.5× against 38.3×. Coherent Corp. grew revenue faster over the last twelve months: 30.8% against 24.6%. MKS Inc. has the higher net margin (12.6% vs 12.2%) and the higher return on invested capital (8.51% vs 4.79%). Across the 21 metrics below, MKS Inc. leads on 13 and Coherent Corp. on 8.

Valuation

Metric COHR MKSI Scientific & Technical Instruments median
P/E 38.25 21.51 28.21
P/S 4.80 2.72 4.46
P/B 3.25 3.95 3.10
Price to free cash flow n/m 23.39 24.15
EV/EBITDA 24.78 15.37 18.28
EV/Sales 5.08 3.37 4.64
Earnings yield 2.61% 4.65% 0.68%
Free cash flow yield (4.86%) 4.28% 1.98%

Profitability

Metric COHR MKSI Scientific & Technical Instruments median
Gross margin 38.16% 47.24% 47.24%
Operating margin 13.44% 18.23% 8.96%
Net margin 12.16% 12.61% 1.92%
Free cash flow margin (23.31%) 11.63% 10.59%
Return on equity 10.78% 20.46% 2.66%
Return on assets 5.50% 6.69% 1.12%
Return on invested capital 4.79% 8.51% 4.79%

Growth

Metric COHR MKSI Scientific & Technical Instruments median
Revenue growth (TTM) 30.84% 24.56% 9.26%
EPS growth (last fiscal year) 892.31% 55.52% 13.24%
Revenue growth, 5-year CAGR 18.04% 11.03% 7.89%
Net income growth, 5-year CAGR 24.22% (3.36%) 0.00%

Health

Metric COHR MKSI Scientific & Technical Instruments median
Debt to equity 0.34 1.15 0.00
Current ratio 2.29 1.19 2.30
Net debt to EBITDA 0.87 3.93 0.45

Dividend

Metric COHR MKSI Scientific & Technical Instruments median
Dividend yield — 0.51% 0.62%
Payout ratio — 0.12 0.22

Size

Metric COHR MKSI Scientific & Technical Instruments median
Market cap 33.43b 11.96b 549.07m

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