Amphenol vs Coherent
Amphenol is the larger business, with $23.09bn of revenue in fiscal 2025 against $7.12bn for Coherent (3.2 times as much). Amphenol grew faster (51.7% against 22.5%). Amphenol kept more of each dollar of sales as profit: a net margin of 18.5% against 11.3%. Coherent carries less debt relative to equity (29.9% against 115.6%).
| Latest fiscal year | AmphenolAPH, 2025 | CoherentCOHR, 2026 |
|---|---|---|
| Revenue | $23.09bn | $7.12bn |
| Revenue growth | 51.7% | 22.5% |
| Net income | $4.27bn | $805m |
| Operating margin | 25.4% | — |
| Net margin | 18.5% | 11.3% |
| Return on equity | 36.8% | 9.7% |
| Free cash flow | $4.38bn | −$1.02bn |
| Cash | $11.13bn | $1.16bn |
| Total debt | $15.50bn | $3.26bn |
| Debt to equity | 115.6% | 29.9% |
| Dividend per share | $0.74 | — |
| Dividend yield | 0.6% | 0.0% |
| Share buybacks | $665m | — |
| Employees | 170,000 | 51,000 |
| Market value | $215.67bn | $41.73bn |
| Price vs our value range | Within our value range | — |
| Moat score | 73 (Strong) | 37 (Weak) |
| Insider trades, 12 months | 1 buys, 20 sales | 0 buys, 37 sales |