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COHERENT CORP.（COHR）与3M（MMM）财务数据对比。点击上方公司名可切换其他公司
3M的季度营收约是COHERENT CORP.的3.6倍（$6.0B vs $1.7B）。3M净利率更高（10.8% vs 8.7%，领先2.1%）。COHERENT CORP.同比增速更快（17.5% vs 1.3%）。3M自由现金流更多（$2.0B vs $-95.7M）。过去两年COHERENT CORP.的营收复合增速更高（18.1% vs -1.8%）
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。
3M是美国知名跨国综合企业，业务覆盖工业、劳动者安全防护、消费品等多个领域，总部位于圣保罗郊区的枫木市。公司现有超6万款产品，涵盖胶粘剂、研磨材料、防火防护产品、个人防护装备、窗膜、车漆保护膜、电子连接绝缘材料、汽车养护产品、光学膜等品类。
COHR vs MMM — 直观对比
营收规模更大
MMM
是对方的3.6倍
$1.7B
营收增速更快
COHR
高出16.2%
1.3%
净利率更高
MMM
高出2.1%
8.7%
自由现金流更多
MMM
多$2.1B
$-95.7M
两年增速更快
COHR
近两年复合增速
-1.8%
损益表 — Q2 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $6.0B |
| 净利润 | $146.7M | $653.0M |
| 毛利率 | 36.9% | 40.7% |
| 营业利润率 | 10.0% | 23.2% |
| 净利率 | 8.7% | 10.8% |
| 营收同比 | 17.5% | 1.3% |
| 净利润同比 | 41.9% | -41.5% |
| 每股收益（稀释后） | $0.76 | $1.23 |
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COHRMMM
| Q1 26 | — | $6.0B | ||
| Q4 25 | $1.7B | $6.1B | ||
| Q3 25 | $1.6B | $6.5B | ||
| Q2 25 | $1.5B | $6.3B | ||
| Q1 25 | $1.5B | $6.0B | ||
| Q4 24 | $1.4B | $6.0B | ||
| Q3 24 | $1.3B | $6.3B | ||
| Q2 24 | $1.3B | $6.3B |
净利润COHRMMM
| Q1 26 | — | $653.0M | ||
| Q4 25 | $146.7M | $577.0M | ||
| Q3 25 | $226.3M | $834.0M | ||
| Q2 25 | $-95.6M | $723.0M | ||
| Q1 25 | $15.7M | $1.1B | ||
| Q4 24 | $103.4M | $728.0M | ||
| Q3 24 | $25.9M | $1.4B | ||
| Q2 24 | $-48.4M | $1.1B |
毛利率COHRMMM
| Q1 26 | — | 40.7% | ||
| Q4 25 | 36.9% | 33.6% | ||
| Q3 25 | 36.6% | 41.8% | ||
| Q2 25 | 35.7% | 42.5% | ||
| Q1 25 | 35.2% | 41.6% | ||
| Q4 24 | 35.5% | 51.7% | ||
| Q3 24 | 34.1% | 42.1% | ||
| Q2 24 | 32.9% | 42.9% |
营业利润率COHRMMM
| Q1 26 | — | 23.2% | ||
| Q4 25 | 10.0% | 13.0% | ||
| Q3 25 | 13.7% | 22.2% | ||
| Q2 25 | -4.1% | 18.0% | ||
| Q1 25 | 0.7% | 20.9% | ||
| Q4 24 | 9.0% | 12.2% | ||
| Q3 24 | 1.4% | 20.9% | ||
| Q2 24 | 4.8% | 20.3% |
净利率COHRMMM
| Q1 26 | — | 10.8% | ||
| Q4 25 | 8.7% | 9.4% | ||
| Q3 25 | 14.3% | 12.8% | ||
| Q2 25 | -6.3% | 11.4% | ||
| Q1 25 | 1.0% | 18.7% | ||
| Q4 24 | 7.2% | 12.1% | ||
| Q3 24 | 1.9% | 21.8% | ||
| Q2 24 | -3.7% | 18.3% |
每股收益（稀释后）COHRMMM
| Q1 26 | — | $1.23 | ||
| Q4 25 | $0.76 | $1.07 | ||
| Q3 25 | $1.19 | $1.55 | ||
| Q2 25 | $-0.81 | $1.34 | ||
| Q1 25 | $-0.11 | $2.04 | ||
| Q4 24 | $0.44 | $1.33 | ||
| Q3 24 | $-0.04 | $2.48 | ||
| Q2 24 | $-0.52 | $2.07 |
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 | $3.7B |
| 总债务越低越好 | $3.4B | $10.9B |
| 股东权益账面价值 | $8.5B | $3.3B |
| 总资产 | $15.1B | $35.4B |
| 负债/权益比越低杠杆越低 | 0.39× | 3.29× |
8季度趋势，按日历期对齐
现金及短期投资COHRMMM
| Q1 26 | — | $3.7B | ||
| Q4 25 | $863.7M | — | ||
| Q3 25 | $852.8M | — | ||
| Q2 25 | $909.2M | — | ||
| Q1 25 | $890.3M | — | ||
| Q4 24 | $917.8M | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $926.0M | — |
总债务COHRMMM
| Q1 26 | — | $10.9B | ||
| Q4 25 | $3.4B | $12.6B | ||
| Q3 25 | $3.3B | $12.6B | ||
| Q2 25 | $3.7B | $13.1B | ||
| Q1 25 | $3.7B | $13.5B | ||
| Q4 24 | $3.9B | $13.0B | ||
| Q3 24 | $4.0B | $13.2B | ||
| Q2 24 | $4.1B | $13.1B |
股东权益COHRMMM
| Q1 26 | — | $3.3B | ||
| Q4 25 | $8.5B | $4.7B | ||
| Q3 25 | $5.8B | $4.6B | ||
| Q2 25 | $5.6B | $4.3B | ||
| Q1 25 | $5.4B | $4.5B | ||
| Q4 24 | $5.2B | $3.8B | ||
| Q3 24 | $5.5B | $4.6B | ||
| Q2 24 | $5.2B | $3.9B |
总资产COHRMMM
| Q1 26 | — | $35.4B | ||
| Q4 25 | $15.1B | $37.7B | ||
| Q3 25 | $14.7B | $37.6B | ||
| Q2 25 | $14.9B | $38.0B | ||
| Q1 25 | $14.4B | $40.0B | ||
| Q4 24 | $14.2B | $39.9B | ||
| Q3 24 | $14.7B | $40.9B | ||
| Q2 24 | $14.5B | $43.4B |
负债/权益比COHRMMM
| Q1 26 | — | 3.29× | ||
| Q4 25 | 0.39× | 2.68× | ||
| Q3 25 | 0.57× | 2.72× | ||
| Q2 25 | 0.65× | 3.06× | ||
| Q1 25 | 0.70× | 3.02× | ||
| Q4 24 | 0.75× | 3.40× | ||
| Q3 24 | 0.73× | 2.84× | ||
| Q2 24 | 0.79× | 3.34× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-95.7M | $2.0B |
| 自由现金流率自由现金流/营收 | -5.7% | 33.6% |
| 资本支出强度资本支出/营收 | 9.1% | — |
| 现金转化率经营现金流/净利润 | 0.39× | — |
| 过去12个月自由现金流最近4个季度 | $-103.6M | $3.7B |
8季度趋势，按日历期对齐
经营现金流COHRMMM
| Q1 26 | — | — | ||
| Q4 25 | $57.9M | $1.6B | ||
| Q3 25 | $46.0M | $1.8B | ||
| Q2 25 | $130.3M | $-954.0M | ||
| Q1 25 | $163.0M | $-79.0M | ||
| Q4 24 | $187.4M | $1.8B | ||
| Q3 24 | $153.0M | $-1.8B | ||
| Q2 24 | $162.3M | $1.0B |
自由现金流COHRMMM
| Q1 26 | — | $2.0B | ||
| Q4 25 | $-95.7M | $1.3B | ||
| Q3 25 | $-58.0M | $1.5B | ||
| Q2 25 | $-1.1M | $-1.2B | ||
| Q1 25 | $51.1M | $-315.0M | ||
| Q4 24 | $81.7M | $1.5B | ||
| Q3 24 | $61.0M | $-2.0B | ||
| Q2 24 | $62.4M | $752.0M |
自由现金流率COHRMMM
| Q1 26 | — | 33.6% | ||
| Q4 25 | -5.7% | 21.8% | ||
| Q3 25 | -3.7% | 23.6% | ||
| Q2 25 | -0.1% | -18.3% | ||
| Q1 25 | 3.4% | -5.3% | ||
| Q4 24 | 5.7% | 25.4% | ||
| Q3 24 | 4.5% | -32.3% | ||
| Q2 24 | 4.7% | 12.0% |
资本支出强度COHRMMM
| Q1 26 | — | — | ||
| Q4 25 | 9.1% | 4.0% | ||
| Q3 25 | 6.6% | 3.3% | ||
| Q2 25 | 8.6% | 3.3% | ||
| Q1 25 | 7.5% | 4.0% | ||
| Q4 24 | 7.4% | 4.8% | ||
| Q3 24 | 6.8% | 3.9% | ||
| Q2 24 | 7.6% | 4.3% |
现金转化率COHRMMM
| Q1 26 | — | — | ||
| Q4 25 | 0.39× | 2.74× | ||
| Q3 25 | 0.20× | 2.11× | ||
| Q2 25 | — | -1.32× | ||
| Q1 25 | 10.37× | -0.07× | ||
| Q4 24 | 1.81× | 2.50× | ||
| Q3 24 | 5.91× | -1.30× | ||
| Q2 24 | — | 0.89× |
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% |
MMM
| Safety and Industrial business segment | $2.9B | 49% |
| Transportation and Electronics business segment | $1.8B | 31% |
| Consumer business segment | $1.1B | 19% |
| Corporate | $121.0M | 2% |
