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COHERENT CORP.（COHR）与高德纳（IT）财务数据对比。点击上方公司名可切换其他公司
高德纳的季度营收约是COHERENT CORP.的1.0倍（$1.8B vs $1.7B），高德纳净利率更高（13.8% vs 8.7%，领先5.1%），COHERENT CORP.同比增速更快（17.5% vs 2.2%），高德纳自由现金流更多（$270.7M vs $-95.7M），过去两年COHERENT CORP.的营收复合增速更高（18.1% vs 9.1%）
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。
高德纳是美国专注于商业与科技领域的研究咨询机构，服务客户覆盖大型企业、政府机构、科技公司、投资机构等群体，通过输出研究报告、举办行业峰会、提供定制咨询等形式，为客户决策提供权威专业的洞见支撑。
COHR vs IT — 直观对比
营收规模更大
IT
是对方的1.0倍
$1.7B
营收增速更快
COHR
高出15.3%
2.2%
净利率更高
IT
高出5.1%
8.7%
自由现金流更多
IT
多$366.4M
$-95.7M
两年增速更快
COHR
近两年复合增速
9.1%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.8B |
| 净利润 | $146.7M | $242.2M |
| 毛利率 | 36.9% | 67.8% |
| 营业利润率 | 10.0% | 19.1% |
| 净利率 | 8.7% | 13.8% |
| 营收同比 | 17.5% | 2.2% |
| 净利润同比 | 41.9% | -39.2% |
| 每股收益（稀释后） | $0.76 | $3.36 |
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COHRIT
| Q4 25 | $1.7B | $1.8B | ||
| Q3 25 | $1.6B | $1.5B | ||
| Q2 25 | $1.5B | $1.7B | ||
| Q1 25 | $1.5B | $1.5B | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $1.3B | $1.6B | ||
| Q1 24 | $1.2B | $1.5B |
净利润COHRIT
| Q4 25 | $146.7M | $242.2M | ||
| Q3 25 | $226.3M | $35.4M | ||
| Q2 25 | $-95.6M | $240.8M | ||
| Q1 25 | $15.7M | $210.9M | ||
| Q4 24 | $103.4M | $398.6M | ||
| Q3 24 | $25.9M | $415.0M | ||
| Q2 24 | $-48.4M | $229.5M | ||
| Q1 24 | $-13.2M | $210.5M |
毛利率COHRIT
| Q4 25 | 36.9% | 67.8% | ||
| Q3 25 | 36.6% | 69.3% | ||
| Q2 25 | 35.7% | 68.6% | ||
| Q1 25 | 35.2% | 69.4% | ||
| Q4 24 | 35.5% | 66.8% | ||
| Q3 24 | 34.1% | 68.4% | ||
| Q2 24 | 32.9% | 68.6% | ||
| Q1 24 | 30.3% | 69.4% |
营业利润率COHRIT
| Q4 25 | 10.0% | 19.1% | ||
| Q3 25 | 13.7% | 5.7% | ||
| Q2 25 | -4.1% | 19.4% | ||
| Q1 25 | 0.7% | 18.1% | ||
| Q4 24 | 9.0% | 18.5% | ||
| Q3 24 | 1.4% | 16.6% | ||
| Q2 24 | 4.8% | 20.0% | ||
| Q1 24 | 1.8% | 18.6% |
净利率COHRIT
| Q4 25 | 8.7% | 13.8% | ||
| Q3 25 | 14.3% | 2.3% | ||
| Q2 25 | -6.3% | 14.3% | ||
| Q1 25 | 1.0% | 13.7% | ||
| Q4 24 | 7.2% | 23.2% | ||
| Q3 24 | 1.9% | 28.0% | ||
| Q2 24 | -3.7% | 14.4% | ||
| Q1 24 | -1.1% | 14.3% |
每股收益（稀释后）COHRIT
| Q4 25 | $0.76 | $3.36 | ||
| Q3 25 | $1.19 | $0.47 | ||
| Q2 25 | $-0.81 | $3.11 | ||
| Q1 25 | $-0.11 | $2.71 | ||
| Q4 24 | $0.44 | $5.08 | ||
| Q3 24 | $-0.04 | $5.32 | ||
| Q2 24 | $-0.52 | $2.93 | ||
| Q1 24 | $-0.29 | $2.67 |
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 | $1.7B |
| 总债务越低越好 | $3.4B | — |
| 股东权益账面价值 | $8.5B | $319.9M |
| 总资产 | $15.1B | $8.1B |
| 负债/权益比越低杠杆越低 | 0.39× | — |
8季度趋势，按日历期对齐
现金及短期投资COHRIT
| Q4 25 | $863.7M | $1.7B | ||
| Q3 25 | $852.8M | $1.4B | ||
| Q2 25 | $909.2M | $2.2B | ||
| Q1 25 | $890.3M | $2.1B | ||
| Q4 24 | $917.8M | $1.9B | ||
| Q3 24 | $1.0B | $1.8B | ||
| Q2 24 | $926.0M | $1.2B | ||
| Q1 24 | $898.6M | $1.2B |
总债务COHRIT
| Q4 25 | $3.4B | — | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.7B | — | ||
| Q1 25 | $3.7B | — | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $4.0B | — | ||
| Q2 24 | $4.1B | — | ||
| Q1 24 | $4.2B | — |
股东权益COHRIT
| Q4 25 | $8.5B | $319.9M | ||
| Q3 25 | $5.8B | $556.6M | ||
| Q2 25 | $5.6B | $1.5B | ||
| Q1 25 | $5.4B | $1.5B | ||
| Q4 24 | $5.2B | $1.4B | ||
| Q3 24 | $5.5B | $1.1B | ||
| Q2 24 | $5.2B | $646.7M | ||
| Q1 24 | $5.3B | $718.2M |
总资产COHRIT
| Q4 25 | $15.1B | $8.1B | ||
| Q3 25 | $14.7B | $7.2B | ||
| Q2 25 | $14.9B | $8.3B | ||
| Q1 25 | $14.4B | $8.5B | ||
| Q4 24 | $14.2B | $8.5B | ||
| Q3 24 | $14.7B | $7.8B | ||
| Q2 24 | $14.5B | $7.4B | ||
| Q1 24 | $14.5B | $7.7B |
负债/权益比COHRIT
| Q4 25 | 0.39× | — | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.65× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 0.75× | — | ||
| 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 | $294.5M |
| 自由现金流经营现金流 - 资本支出 | $-95.7M | $270.7M |
| 自由现金流率自由现金流/营收 | -5.7% | 15.4% |
| 资本支出强度资本支出/营收 | 9.1% | 1.4% |
| 现金转化率经营现金流/净利润 | 0.39× | 1.22× |
| 过去12个月自由现金流最近4个季度 | $-103.6M | $1.2B |
8季度趋势，按日历期对齐
经营现金流COHRIT
| Q4 25 | $57.9M | $294.5M | ||
| Q3 25 | $46.0M | $298.7M | ||
| Q2 25 | $130.3M | $383.6M | ||
| Q1 25 | $163.0M | $313.5M | ||
| Q4 24 | $187.4M | $335.4M | ||
| Q3 24 | $153.0M | $590.8M | ||
| Q2 24 | $162.3M | $370.0M | ||
| Q1 24 | $117.4M | $188.8M |
自由现金流COHRIT
| Q4 25 | $-95.7M | $270.7M | ||
| Q3 25 | $-58.0M | $269.3M | ||
| Q2 25 | $-1.1M | $347.3M | ||
| Q1 25 | $51.1M | $287.9M | ||
| Q4 24 | $81.7M | $311.4M | ||
| Q3 24 | $61.0M | $565.0M | ||
| Q2 24 | $62.4M | $340.6M | ||
| Q1 24 | $24.2M | $166.2M |
自由现金流率COHRIT
| Q4 25 | -5.7% | 15.4% | ||
| Q3 25 | -3.7% | 17.7% | ||
| Q2 25 | -0.1% | 20.6% | ||
| Q1 25 | 3.4% | 18.8% | ||
| Q4 24 | 5.7% | 18.2% | ||
| Q3 24 | 4.5% | 38.1% | ||
| Q2 24 | 4.7% | 21.4% | ||
| Q1 24 | 2.0% | 11.3% |
资本支出强度COHRIT
| Q4 25 | 9.1% | 1.4% | ||
| Q3 25 | 6.6% | 1.9% | ||
| Q2 25 | 8.6% | 2.1% | ||
| Q1 25 | 7.5% | 1.7% | ||
| Q4 24 | 7.4% | 1.4% | ||
| Q3 24 | 6.8% | 1.7% | ||
| Q2 24 | 7.6% | 1.8% | ||
| Q1 24 | 7.7% | 1.5% |
现金转化率COHRIT
| Q4 25 | 0.39× | 1.22× | ||
| Q3 25 | 0.20× | 8.45× | ||
| Q2 25 | — | 1.59× | ||
| Q1 25 | 10.37× | 1.49× | ||
| Q4 24 | 1.81× | 0.84× | ||
| Q3 24 | 5.91× | 1.42× | ||
| Q2 24 | — | 1.61× | ||
| Q1 24 | — | 0.90× |
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% |
IT
| Transferred Over Time | $1.3B | 73% |
| Conferences | $286.2M | 16% |
| Consulting | $133.6M | 8% |
| Other | $52.3M | 3% |
