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COHERENT CORP.（COHR）与国际香精香料（IFF）财务数据对比。点击上方公司名可切换其他公司
国际香精香料的季度营收约是COHERENT CORP.的1.5倍（$2.6B vs $1.7B），COHERENT CORP.净利率更高（8.7% vs 0.2%，领先8.5%），COHERENT CORP.同比增速更快（17.5% vs -6.6%），国际香精香料自由现金流更多（$130.0M vs $-95.7M），过去两年COHERENT CORP.的营收复合增速更高（18.1% vs -5.5%）
Coherent Corp.是美国专业光学材料与半导体生产商，2023年全球员工规模达26622人。2022年原II-VI公司收购激光制造商Coherent, Inc.后更名为现名，产品广泛应用于通信、工业、医疗等众多领域。
国际香精香料（IFF）是美国知名企业，业务覆盖风味、质感、香氛、营养、酶制剂、菌种、大豆蛋白、益生菌等多品类产品研发，产品行销全球。公司总部位于纽约，在44个国家设有创意、销售及生产基地，是标普500指数成分股企业。
COHR vs IFF — 直观对比
营收规模更大
IFF
是对方的1.5倍
$1.7B
营收增速更快
COHR
高出24.1%
-6.6%
净利率更高
COHR
高出8.5%
0.2%
自由现金流更多
IFF
多$225.7M
$-95.7M
两年增速更快
COHR
近两年复合增速
-5.5%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $2.6B |
| 净利润 | $146.7M | $5.0M |
| 毛利率 | 36.9% | 34.4% |
| 营业利润率 | 10.0% | 3.7% |
| 净利率 | 8.7% | 0.2% |
| 营收同比 | 17.5% | -6.6% |
| 净利润同比 | 41.9% | 110.9% |
| 每股收益（稀释后） | $0.76 | $0.03 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收COHRIFF
| Q4 25 | $1.7B | $2.6B | ||
| Q3 25 | $1.6B | $2.7B | ||
| Q2 25 | $1.5B | $2.8B | ||
| Q1 25 | $1.5B | $2.8B | ||
| Q4 24 | $1.4B | $2.8B | ||
| Q3 24 | $1.3B | $2.9B | ||
| Q2 24 | $1.3B | $2.9B | ||
| Q1 24 | $1.2B | $2.9B |
净利润COHRIFF
| Q4 25 | $146.7M | $5.0M | ||
| Q3 25 | $226.3M | $40.0M | ||
| Q2 25 | $-95.6M | $612.0M | ||
| Q1 25 | $15.7M | $-1.0B | ||
| Q4 24 | $103.4M | $-46.0M | ||
| Q3 24 | $25.9M | $59.0M | ||
| Q2 24 | $-48.4M | $170.0M | ||
| Q1 24 | $-13.2M | $60.0M |
毛利率COHRIFF
| Q4 25 | 36.9% | 34.4% | ||
| Q3 25 | 36.6% | 36.5% | ||
| Q2 25 | 35.7% | 37.3% | ||
| Q1 25 | 35.2% | 36.4% | ||
| Q4 24 | 35.5% | 35.4% | ||
| Q3 24 | 34.1% | 36.0% | ||
| Q2 24 | 32.9% | 37.0% | ||
| Q1 24 | 30.3% | 35.3% |
营业利润率COHRIFF
| Q4 25 | 10.0% | 3.7% | ||
| Q3 25 | 13.7% | 8.4% | ||
| Q2 25 | -4.1% | 7.2% | ||
| Q1 25 | 0.7% | -31.8% | ||
| Q4 24 | 9.0% | 4.6% | ||
| Q3 24 | 1.4% | 8.5% | ||
| Q2 24 | 4.8% | 6.6% | ||
| Q1 24 | 1.8% | 6.9% |
净利率COHRIFF
| Q4 25 | 8.7% | 0.2% | ||
| Q3 25 | 14.3% | 1.5% | ||
| Q2 25 | -6.3% | 22.1% | ||
| Q1 25 | 1.0% | -35.8% | ||
| Q4 24 | 7.2% | -1.7% | ||
| Q3 24 | 1.9% | 2.0% | ||
| Q2 24 | -3.7% | 5.9% | ||
| Q1 24 | -1.1% | 2.1% |
每股收益（稀释后）COHRIFF
| Q4 25 | $0.76 | $0.03 | ||
| Q3 25 | $1.19 | $0.16 | ||
| Q2 25 | $-0.81 | $2.38 | ||
| Q1 25 | $-0.11 | $-3.98 | ||
| Q4 24 | $0.44 | $-0.17 | ||
| Q3 24 | $-0.04 | $0.23 | ||
| Q2 24 | $-0.52 | $0.66 | ||
| Q1 24 | $-0.29 | $0.23 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $863.7M | $590.0M |
| 总债务越低越好 | $3.4B | $5.6B |
| 股东权益账面价值 | $8.5B | $14.2B |
| 总资产 | $15.1B | $25.5B |
| 负债/权益比越低杠杆越低 | 0.39× | 0.40× |
8季度趋势，按日历期对齐
现金及短期投资COHRIFF
| Q4 25 | $863.7M | $590.0M | ||
| Q3 25 | $852.8M | $621.0M | ||
| Q2 25 | $909.2M | $816.0M | ||
| Q1 25 | $890.3M | $613.0M | ||
| Q4 24 | $917.8M | $469.0M | ||
| Q3 24 | $1.0B | $567.0M | ||
| Q2 24 | $926.0M | $671.0M | ||
| Q1 24 | $898.6M | $732.0M |
总债务COHRIFF
| Q4 25 | $3.4B | $5.6B | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.7B | — | ||
| Q1 25 | $3.7B | — | ||
| Q4 24 | $3.9B | $8.9B | ||
| Q3 24 | $4.0B | — | ||
| Q2 24 | $4.1B | — | ||
| Q1 24 | $4.2B | — |
股东权益COHRIFF
| Q4 25 | $8.5B | $14.2B | ||
| Q3 25 | $5.8B | $14.2B | ||
| Q2 25 | $5.6B | $14.4B | ||
| Q1 25 | $5.4B | $13.2B | ||
| Q4 24 | $5.2B | $13.9B | ||
| Q3 24 | $5.5B | $14.8B | ||
| Q2 24 | $5.2B | $14.3B | ||
| Q1 24 | $5.3B | $14.3B |
总资产COHRIFF
| Q4 25 | $15.1B | $25.5B | ||
| Q3 25 | $14.7B | $25.8B | ||
| Q2 25 | $14.9B | $26.1B | ||
| Q1 25 | $14.4B | $28.3B | ||
| Q4 24 | $14.2B | $28.7B | ||
| Q3 24 | $14.7B | $29.9B | ||
| Q2 24 | $14.5B | $29.5B | ||
| Q1 24 | $14.5B | $30.6B |
负债/权益比COHRIFF
| Q4 25 | 0.39× | 0.40× | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.65× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 0.75× | 0.64× | ||
| Q3 24 | 0.73× | — | ||
| Q2 24 | 0.79× | — | ||
| Q1 24 | 0.78× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $57.9M | $318.0M |
| 自由现金流经营现金流 - 资本支出 | $-95.7M | $130.0M |
| 自由现金流率自由现金流/营收 | -5.7% | 5.0% |
| 资本支出强度资本支出/营收 | 9.1% | 7.3% |
| 现金转化率经营现金流/净利润 | 0.39× | 63.60× |
| 过去12个月自由现金流最近4个季度 | $-103.6M | $256.0M |
8季度趋势，按日历期对齐
经营现金流COHRIFF
| Q4 25 | $57.9M | $318.0M | ||
| Q3 25 | $46.0M | $164.0M | ||
| Q2 25 | $130.3M | $241.0M | ||
| Q1 25 | $163.0M | $127.0M | ||
| Q4 24 | $187.4M | $368.0M | ||
| Q3 24 | $153.0M | $366.0M | ||
| Q2 24 | $162.3M | $237.0M | ||
| Q1 24 | $117.4M | $99.0M |
自由现金流COHRIFF
| Q4 25 | $-95.7M | $130.0M | ||
| Q3 25 | $-58.0M | $32.0M | ||
| Q2 25 | $-1.1M | $146.0M | ||
| Q1 25 | $51.1M | $-52.0M | ||
| Q4 24 | $81.7M | $208.0M | ||
| Q3 24 | $61.0M | $263.0M | ||
| Q2 24 | $62.4M | $155.0M | ||
| Q1 24 | $24.2M | $-19.0M |
自由现金流率COHRIFF
| Q4 25 | -5.7% | 5.0% | ||
| Q3 25 | -3.7% | 1.2% | ||
| Q2 25 | -0.1% | 5.3% | ||
| Q1 25 | 3.4% | -1.8% | ||
| Q4 24 | 5.7% | 7.5% | ||
| Q3 24 | 4.5% | 9.0% | ||
| Q2 24 | 4.7% | 5.4% | ||
| Q1 24 | 2.0% | -0.7% |
资本支出强度COHRIFF
| Q4 25 | 9.1% | 7.3% | ||
| Q3 25 | 6.6% | 4.9% | ||
| Q2 25 | 8.6% | 3.4% | ||
| Q1 25 | 7.5% | 6.3% | ||
| Q4 24 | 7.4% | 5.8% | ||
| Q3 24 | 6.8% | 3.5% | ||
| Q2 24 | 7.6% | 2.8% | ||
| Q1 24 | 7.7% | 4.1% |
现金转化率COHRIFF
| Q4 25 | 0.39× | 63.60× | ||
| Q3 25 | 0.20× | 4.10× | ||
| Q2 25 | — | 0.39× | ||
| Q1 25 | 10.37× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 5.91× | 6.20× | ||
| Q2 24 | — | 1.39× | ||
| Q1 24 | — | 1.65× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
COHR
| Datacenter And Communications Segment | $1.2B | 72% |
| Industrial Segment | $477.7M | 28% |
IFF
| Food Ingredients | $802.0M | 31% |
| Scent | $610.0M | 24% |
| Other | $589.0M | 23% |
| Taste | $588.0M | 23% |
