Coherent Corp. (COHR) vs Trimble Inc. (TRMB)

Coherent Corp. and Trimble Inc. are both Scientific & Technical Instruments companies. Coherent Corp. is the larger, with a market value of $33.4B against $12.5B — 2.7× the size. Trimble Inc. has negative trailing earnings, so its P/E is not meaningful; Coherent Corp. trades at 38.3×. Coherent Corp. grew revenue faster over the last twelve months: 30.8% against 6.88%. Coherent Corp. has the higher net margin (12.2% vs −4.08%) and the lower return on invested capital (4.79% vs 6.30%). Across the 20 metrics below, Coherent Corp. leads on 10 and Trimble Inc. on 10.

Valuation

Metric COHR TRMB Scientific & Technical Instruments median
P/E 38.25 n/m 28.21
P/S 4.80 3.27 4.46
P/B 3.25 2.53 3.10
Price to free cash flow n/m 15.91 24.15
EV/EBITDA 24.78 16.61 18.28
EV/Sales 5.08 3.61 4.64
Earnings yield 2.61% (1.27%) 0.68%
Free cash flow yield (4.86%) 6.28% 1.98%

Profitability

Metric COHR TRMB Scientific & Technical Instruments median
Gross margin 38.16% 69.60% 47.24%
Operating margin 13.44% 16.48% 8.96%
Net margin 12.16% (4.08%) 1.92%
Free cash flow margin (23.31%) 20.74% 10.59%
Return on equity 10.78% (2.92%) 2.66%
Return on assets 5.50% (1.79%) 1.12%
Return on invested capital 4.79% 6.30% 4.79%

Growth

Metric COHR TRMB Scientific & Technical Instruments median
Revenue growth (TTM) 30.84% 6.88% 9.26%
EPS growth (last fiscal year) 892.31% (71.10%) 13.24%
Revenue growth, 5-year CAGR 18.04% 2.65% 7.89%
Net income growth, 5-year CAGR 24.22% 1.69% 0.00%

Health

Metric COHR TRMB Scientific & Technical Instruments median
Debt to equity 0.34 0.31 0.00
Current ratio 2.29 0.93 2.30
Net debt to EBITDA 0.87 1.44 0.45

Dividend

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

Size

Metric COHR TRMB Scientific & Technical Instruments median
Market cap 33.43b 12.51b 549.07m

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