AI Takeaway
COHR delivered strong Q2 FY2026 results with revenue rising 17.5% YoY to $1.69B and net income surging 41.9% to $146.7M, driven by robust top-line growth while operating cash flow declined sharply on a year-to-date basis.
Revenue
$1.69B
++17.49% YoY
EPS (Basic)
$0.87
++89.13% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-Q filing
Revenue grew 17.5% YoY to $1.69B in Q2 FY2026 (vs. $1.43B in Q2 FY2025), reflecting broad-based demand acceleration across COHR's product portfolio, likely driven by continued strength in datacom and telecom markets.
Source: Source: 10-Q Income Statement
Net income increased 41.9% YoY to $146.7M, with diluted EPS rising 72.7% to $0.76, outpacing revenue growth and suggesting meaningful operating leverage and/or favorable mix shift during the quarter.
Source: Source: 10-Q Income Statement
Stockholders' equity surged 65.2% YoY to $8.54B, while long-term debt declined 13.2% to $3.35B, indicating a materially improved capital structure and reduced leverage over the past year.
Source: Source: 10-Q Balance Sheet
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Upgrade to unlockYear-to-date operating cash flow dropped 69.5% YoY to $103.9M despite strong net income of $146.7M, signaling potential working capital pressures or cash conversion challenges. If this trend persists, it could constrain COHR's ability to fund operations and investments internally.
Source: Source: 10-Q Cash Flow Statement
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Upgrade to unlockReported EPS of $1.29 versus the $1.23 analyst consensus — a +4.7% beat for Q2 FY2026.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $1.69B | $1.43B | +17.49% |
Cost of Revenue | $1.06B | $925.31M | +14.86% |
Net Income | $146.72M | $103.39M | +41.91% |
EPS (Basic) | $0.87 | $0.46 | +89.13% |
EPS (Diluted) | $0.76 | $0.44 | +72.73% |
R&D Expense | $165.71M | $143.85M | +15.19% |
SG&A Expense | $258.49M | $220.61M | +17.17% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $15.09B | $14.2B | +6.27% |
Current Assets | $4.39B | $3.5B | +25.62% |
Total Liabilities | $6.2B | $6.23B | -0.52% |
Current Liabilities | $1.95B | $1.31B | +49.02% |
Stockholders' Equity | $8.54B | $5.17B | +65.23% |
Cash & Equivalents | $863.74M | $917.82M | -5.89% |
Long-Term Debt | $3.35B | $3.86B | -13.16% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash FlowYTD | $103.86M | $340.36M | -69.49% |
Investing Cash FlowYTD | $158.27M | $-171.79M | +192.13% |
Financing Cash FlowYTD | $-378.43M | $-266.47M | -42.01% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Net Margin | 8.7% | — | — |
ROE | 1.7% | — | — |
ROA | 1.0% | — | — |
Current Ratio | $2.252 | — | — |
Debt to Equity | $0.726 | — | — |
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COHR reported Q2 FY2026 revenue of $1.69B, up 17.5% YoY, and net income of $146.7M, up 41.9% YoY. Diluted EPS came in at $0.76, a 72.7% increase from the prior-year quarter, reflecting strong operational momentum.
The standout positives were accelerating revenue and net income growth, a strengthening balance sheet with equity up 65.2% and long-term debt down 13.2%, and expanding net margins. The key concern was a 69.5% YoY decline in year-to-date operating cash flow to just $103.9M, which diverged sharply from reported net income.
COHR's cumulative fiscal year-to-date operating cash flow fell 69.5% YoY to $103.9M, compared to $340.4M in the same period last year, despite net income of $146.7M in the quarter. This divergence likely reflects working capital build-up or timing of cash collections and payments, though specific details are not available without the full filing text.
COHR's financial health shows improvement in several areas: the current ratio is a healthy 2.25x, long-term debt has declined 13.2% to $3.35B, and stockholders' equity has grown 65.2% to $8.54B. However, the sharp decline in operating cash flow and the rapid 49% rise in current liabilities are areas that merit continued investor attention.
COHR's revenue grew 17.5% YoY to $1.69B in Q2 FY2026, up from $1.43B in Q2 FY2025, driven by strong demand across its product portfolio. Cost of revenue grew at a slightly slower pace of 14.9%, suggesting modest gross margin improvement during the quarter.