How do COHERENT CORP. and Western Digital compare by revenue?

COHERENT CORP. reported revenue of $1.7B in Q2 FY2026, while Western Digital reported $3.0B in Q2 FY2026. Western Digital is 1.8× larger by last-quarter revenue.

Which is growing revenue faster, COHERENT CORP. or Western Digital?

COHERENT CORP.'s latest revenue grew 17.5% year-over-year, versus 31.5% for Western Digital. Western Digital is growing faster on a YoY basis.

Which has a higher gross margin, COHERENT CORP. or Western Digital?

COHERENT CORP.'s gross margin is 36.9% vs Western Digital's 45.7%. Western Digital converts more of each revenue dollar into gross profit.

Which has a higher net margin, COHERENT CORP. or Western Digital?

COHERENT CORP.'s net margin is 8.7% vs Western Digital's 61.1%. Western Digital has the higher bottom-line margin.

What is the 2-year revenue CAGR for COHERENT CORP. vs Western Digital?

Over the trailing 8 quarters, COHERENT CORP. compounded revenue at roughly 18.1% per year, versus -6.6% for Western Digital. COHERENT CORP. has the faster medium-term growth trajectory.

Where does this COHR vs WDC data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of COHERENT CORP. (COHR) and Western Digital (WDC). Click either name above to swap in a different company.

Western Digital is the larger business by last-quarter revenue ($3.0B vs $1.7B, roughly 1.8× COHERENT CORP.). Western Digital runs the higher net margin — 61.1% vs 8.7%, a 52.4% gap on every dollar of revenue. On growth, Western Digital posted the faster year-over-year revenue change (31.5% vs 17.5%). Over the past eight quarters, COHERENT CORP.'s revenue compounded faster (18.1% CAGR vs -6.6%).

COHERENT CORP.COHREarnings & Financial Report

NYSE · Industrials · Optical Instruments & Lenses

Coherent Corp. is an American manufacturer of optical materials and semiconductors. As of 2023, the company had 26,622 employees. Their stock is listed at the New York Stock Exchange under the ticker symbol COHR. In 2022, II-VI acquired laser manufacturer Coherent, Inc., and adopted its name.

Western DigitalWDCEarnings & Financial Report

Nasdaq · Information Technology · Technology Hardware, Storage & Peripherals

Western Digital Corporation, doing business as WD, is an American data storage company headquartered in San Jose, California. Established in 1970, the company is one of the world's largest manufacturers of hard disk drives (HDDs).

COHR vs WDC — Head-to-Head

Bigger by revenue

WDC

1.8× larger

$3.0B

$1.7B

Growing faster (revenue YoY)

WDC

+14.0% gap

31.5%

17.5%

Higher net margin

WDC

52.4% more per $

61.1%

8.7%

Faster 2-yr revenue CAGR

COHR

Annualised

18.1%

-6.6%

Income Statement — Q2 FY2026 vs Q2 FY2026

Metric	COHR	WDC
Revenue	$1.7B	$3.0B
Net Profit	$146.7M	$1.8B
Gross Margin	36.9%	45.7%
Operating Margin	10.0%	30.1%
Net Margin	8.7%	61.1%
Revenue YoY	17.5%	31.5%
Net Profit YoY	41.9%	254.2%
EPS (diluted)	$0.76	$4.73

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue

COHR

WDC

Q1 26	—	$3.0B
Q4 25	$1.7B	$2.8B
Q3 25	$1.6B	—
Q2 25	$1.5B	$-1.2B
Q1 25	$1.5B	$2.3B
Q4 24	$1.4B	$4.3B
Q3 24	$1.3B	$4.1B
Q2 24	$1.3B	$3.8B

Net Profit

COHR

WDC

Q1 26	—	$1.8B
Q4 25	$146.7M	$1.2B
Q3 25	$226.3M	—
Q2 25	$-95.6M	$282.0M
Q1 25	$15.7M	$520.0M
Q4 24	$103.4M	$594.0M
Q3 24	$25.9M	$493.0M
Q2 24	$-48.4M	$39.0M

Gross Margin

COHR

WDC

Q1 26	—	45.7%
Q4 25	36.9%	43.5%
Q3 25	36.6%	—
Q2 25	35.7%	—
Q1 25	35.2%	39.8%
Q4 24	35.5%	35.4%
Q3 24	34.1%	37.9%
Q2 24	32.9%	35.9%

Operating Margin

COHR

WDC

Q1 26	—	30.1%
Q4 25	10.0%	28.1%
Q3 25	13.7%	—
Q2 25	-4.1%	—
Q1 25	0.7%	33.1%
Q4 24	9.0%	19.9%
Q3 24	1.4%	18.1%
Q2 24	4.8%	5.7%

Net Margin

COHR

WDC

Q1 26	—	61.1%
Q4 25	8.7%	41.9%
Q3 25	14.3%	—
Q2 25	-6.3%	-24.4%
Q1 25	1.0%	22.7%
Q4 24	7.2%	13.9%
Q3 24	1.9%	12.0%
Q2 24	-3.7%	1.0%

EPS (diluted)

COHR

WDC

Q1 26	—	$4.73
Q4 25	$0.76	$3.07
Q3 25	$1.19	—
Q2 25	$-0.81	$0.72
Q1 25	$-0.11	$1.42
Q4 24	$0.44	$1.63
Q3 24	$-0.04	$1.35
Q2 24	$-0.52	$0.15

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric	COHR	WDC
Cash + ST InvestmentsLiquidity on hand	$863.7M	$2.0B
Total DebtLower is stronger	$3.4B	$4.7B
Stockholders' EquityBook value	$8.5B	$7.1B
Total Assets	$15.1B	$15.6B
Debt / EquityLower = less leverage	0.39×	0.65×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments

COHR

WDC

Q1 26	—	$2.0B
Q4 25	$863.7M	$2.0B
Q3 25	$852.8M	—
Q2 25	$909.2M	$2.1B
Q1 25	$890.3M	$3.5B
Q4 24	$917.8M	$2.3B
Q3 24	$1.0B	$1.7B
Q2 24	$926.0M	$1.9B

Total Debt

COHR

WDC

Q1 26	—	$4.7B
Q4 25	$3.4B	$4.7B
Q3 25	$3.3B	—
Q2 25	$3.7B	$4.7B
Q1 25	$3.7B	$7.3B
Q4 24	$3.9B	$7.4B
Q3 24	$4.0B	$7.4B
Q2 24	$4.1B	$7.4B

Stockholders' Equity

COHR

WDC

Q1 26	—	$7.1B
Q4 25	$8.5B	$5.9B
Q3 25	$5.8B	—
Q2 25	$5.6B	$5.3B
Q1 25	$5.4B	$5.2B
Q4 24	$5.2B	$12.1B
Q3 24	$5.5B	$11.6B
Q2 24	$5.2B	$10.8B

Total Assets

COHR

WDC

Q1 26	—	$15.6B
Q4 25	$15.1B	$14.4B
Q3 25	$14.7B	—
Q2 25	$14.9B	$14.0B
Q1 25	$14.4B	$16.4B
Q4 24	$14.2B	$25.5B
Q3 24	$14.7B	$24.8B
Q2 24	$14.5B	$24.2B

Debt / Equity

COHR

WDC

Q1 26	—	0.65×
Q4 25	0.39×	0.80×
Q3 25	0.57×	—
Q2 25	0.65×	0.89×
Q1 25	0.70×	1.42×
Q4 24	0.75×	0.61×
Q3 24	0.73×	0.64×
Q2 24	0.79×	0.69×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric	COHR	WDC
Operating Cash FlowLast quarter	$57.9M	—
Free Cash FlowOCF − Capex	$-95.7M	—
FCF MarginFCF / Revenue	-5.7%	—
Capex IntensityCapex / Revenue	9.1%	—
Cash ConversionOCF / Net Profit	0.39×	—
TTM Free Cash FlowTrailing 4 quarters	$-103.6M	—