Belden vs Coherent
Coherent is the larger business, with $7.12bn of revenue in fiscal 2026 against $2.72bn for Belden (2.6 times as much). Coherent grew faster (22.5% against 10.3%). Coherent kept more of each dollar of sales as profit: a net margin of 11.3% against 8.7%.
| Latest fiscal year | BeldenBDC, 2025 | CoherentCOHR, 2026 |
|---|---|---|
| Revenue | $2.72bn | $7.12bn |
| Revenue growth | 10.3% | 22.5% |
| Net income | $238m | $805m |
| Operating margin | — | — |
| Net margin | 8.7% | 11.3% |
| Return on equity | 18.6% | 9.7% |
| Free cash flow | $219m | −$1.02bn |
| Cash | $390m | $1.16bn |
| Total debt | $1.29bn | $3.26bn |
| Debt to equity | — | 29.9% |
| Dividend per share | $0.20 | — |
| Dividend yield | 0.2% | 0.0% |
| Share buybacks | — | — |
| Employees | — | 51,000 |
| Market value | $4.24bn | $41.73bn |
| Price vs our value range | Within our value range | — |
| Moat score | 67 (Moderate) | 37 (Weak) |
| Insider trades, 12 months | 0 buys, 11 sales | 0 buys, 37 sales |