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 $58.5B against $13.5B — 4.3× the size. Trimble Inc. has negative trailing earnings, so its P/E is not meaningful; Coherent Corp. trades at 68.0×. 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 68.01 n/m 35.93
P/S 7.37 3.56 4.46
P/B 4.67 2.64 3.00
Price to free cash flow n/m 17.62 24.96
EV/EBITDA 38.94 17.43 19.60
EV/Sales 7.54 3.89 4.98
Earnings yield 1.47% (0.81%) 0.53%
Free cash flow yield (1.95%) 5.68% 1.12%

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% 11.28%
EPS growth (last fiscal year) 892.31% (71.10%) —
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 0.10% — 0.72%
Payout ratio 0.00 0.00 0.00

Size

Metric COHR TRMB Scientific & Technical Instruments median
Market cap 58.46b 13.51b 483.67m

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