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 $49.4B against $14.2B — 3.5× the size. Trimble Inc. has negative trailing earnings, so its P/E is not meaningful; Coherent Corp. trades at 53.5×. Coherent Corp. grew revenue faster over the last twelve months: 22.5% against 5.80%. Coherent Corp. has the higher net margin (10.8% vs −2.77%) and the lower return on invested capital (4.21% vs 6.32%). 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 53.54 n/m 33.25
P/S 5.80 3.66 4.50
P/B 3.67 2.71 2.90
Price to free cash flow n/m 18.12 24.81
EV/EBITDA 30.84 17.88 17.92
EV/Sales 5.97 3.99 4.71
Earnings yield 1.87% (0.79%) 0.60%
Free cash flow yield (2.48%) 5.52% 1.27%

Profitability

Metric COHR TRMB Scientific & Technical Instruments median
Gross margin 37.50% 69.80% 45.75%
Operating margin 11.77% 16.99% 7.34%
Net margin 10.82% (2.77%) 1.56%
Free cash flow margin (14.38%) 20.44% 5.84%
Return on equity 8.93% (1.94%) 2.87%
Return on assets 4.64% (1.19%) 0.99%
Return on invested capital 4.21% 6.32% 3.88%

Growth

Metric COHR TRMB Scientific & Technical Instruments median
Revenue growth (TTM) 22.51% 5.80% 11.15%
EPS growth (last fiscal year) 892.31% (71.10%) 11.47%
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 0.29 0.29 0.00
Current ratio 2.43 0.95 2.24
Net debt to EBITDA 0.87 1.44 0.44

Dividend

Metric COHR TRMB Scientific & Technical Instruments median
Dividend yield — — 0.58%
Payout ratio — — 0.36

Size

Metric COHR TRMB Scientific & Technical Instruments median
Market cap 49.35b 14.22b 444.25m

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