companies / NYSE
Coherent
CPO laser + transceivers; NVIDIA $2B investment 2026-03.
近 30 天股價
市值 $54.68B
最新估值
MARKET-IMPLIED BASE — reconstructs the real $389.57 price instead of declaring it 55% overvalued. The prior FY28E->PV base ($176) used a narrow CPO-switch TAM; the market prices COHR off the FULL optical-AI franchise (industry >$90B 2030; Coherent CPO SAM >$15B). At ~13% capture of $90B, 22% net margin (materials/legacy mix + II-VI leverage), 158M shares -> $16.5 EPS x 23.6x = ~$390 ≈ spot. COHR's lower per-share vs LITE is the 2x share count + lower margin/multiple, not a weaker franchise (2030 revenue ~$11.9B > LITE's ~$9.9B). Blue-sky (35% capture -> $1,008) is the upper tail; a bear sits below. confidence=low: a 2030 secular bet that reconciles to the market's future story.
看歷史估值 →在 BOM 上的位置
題材歸屬
- AI Networking / Optical — NVIDIA 用股權買下一條互連帶（NOK / COHR / MRVL / CRWV）hotPrimary
Coherent — NVDA Q1 2026 13F 持股；2026-03 推 CHR1074 quad TIA 224Gbps for 800G/1.6T；DC&C 部門 Q3 2026 營收 $1.36B (+41% YoY)、佔總營收 75%；CEO 揭與 NVDA 合作「equity + multi-billion R&D」two-part
- CPO 題材 — 共封裝光學從敘事到出貨hotPrimary
NVIDIA $2B 投資（2026-03），CPO 主動光源 + transceiver 主供
在 research 中被提到
- Rubin NVL576 的 CPO 光通訊鏈——誰在做什麼
… 與 Lumentum 作為 CPO module 與 EML 雷射的優先供應商；同一公告把 Marvell 與 Broadcom 列為交換器 ASIC 與光電整合的合作對象。 - **CPO module 整合**：Coherent (COHR)、Lumentum (LITE) 各自把雷射、modulator、driver 封裝成一顆光引擎，份額目前估在 35% / 35% / 各 15% 給 Marvell 與 Broadcom（產業估算）。 - **EML / DFB…
- NVIDIA Vera Rubin — 平台與三條 SKU 線
…tra**：576 顆 GPU 的 super-rack，靠 Co-Packaged Optics (CPO) 取代 copper cable 處理 NVLink。是 NVIDIA 第一個全 CPO 機架平台，2027 H2 才會少量出貨。Coherent、Lumentum、Marvell、Broadcom 是 CPO module 供應商，由 NVIDIA 在 2026-03-02 公告投資 40 億美元保供。 ## 為什麼分三個 SKU 分流是有經濟邏輯的。NVL72…
- 光聖科技 (6442.TWO)：從光纖被動元件到 CPO 矽光子主動光源
…["Rubin NVL576 機架（內部 scale-up）"] direction LR GPU1[GPU] -. Lotes/BizLink 連接器 .-> CPO1["NVSwitch CPO<br/>Coherent/Lumentum 光引擎"] CPO1 -- Corning 單模光纖 --> CPO2["NVSwitch CPO<br/>Coherent/Lumentum 光引擎"] CPO2 -. …
財報 highlight
| 期別 | Revenue | Gross profit | Operating income | EPS | 毛利率 | 營益率 | YoY | QoQ | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026Q1 | $1.81B | $0 | — | — | 0.0% | — | +33.70% | +7.12% | yahoo-finance2 |
| 2025Q4 | $1.69B | $0 | — | — | 0.0% | — | — | +6.59% | yahoo-finance2 |
| 2025Q3 | $1.58B | $0 | — | — | 0.0% | — | — | +3.40% |
法說 / IR events
競爭對手
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在 BOM 上跟該公司同列出現的廠商 — 可能是同層 supplier、補位 source、或客戶端，不一定是競爭關係。
新聞 timeline
- Coherent, Inc.2026-09-04 · en.wikipedia.org
| Type | Subsidiary | | Traded as | Nasdaq: COHR | | Industry | Industrial and fiber laser equipment | | Founded | 1966; 60 years ago (1966), in Palo Alto, California | | Founder | James Hobart | | Headquarters | Santa Clara, California, U.S. | | Key people | Andreas W. Mattes (CEO) | | Revenue | US$5.595 billion (2025) | | Operating income | US$411 million (2020) | | Net income | US$-414 million (2020) | | Total assets | US$1.83 billion (2020) | [...] Coherent, Inc., headquartered in Santa Clara, California is an American company that develops, manufactures and supports laser equipment and related specialty components. Coherent was founded in May 1966 by physicist James Hobart and five cofounders. It went public in 1970. Over time, Coherent acquired other laser businesses and expanded to
- Coherent, Inc. Stock Price: Quote, Forecast, Splits & News ...2026-09-04 · perplexity.ai
Coherent Corp. (NYSE: COHR), headquartered in Saxonburg, Pennsylvania and tracing its roots to 1966, is a vertically integrated global leader in photonics, compound semiconductors, and laser technology, formed through the combination of Coherent, II-VI, and Finisar. The company develops, manufactures, and markets engineered materials, optoelectronic components and devices, lasers, transceivers, and complete systems through three core segments: Networking, Materials, and Lasers. Its diverse [...] ## Key Issues Symbol COHR IPO Date Oct 2, 1987 CEO James Robert Anderson Fulltime Employees 51K Sector Technology Industry Hardware, Equipment & Parts Country United States Exchange New York Stock Exchange [...] Will Datacenter Momentum Keep Powering Coherent's Growth? Image 66 Zack
- Coherent Corp. (COHR) Stock Price, Quote, News & Analysis2026-09-04 · seekingalpha.com
Coherent Corp. develops, manufactures, and markets lasers, transceivers, other optical and optoelectronic devices, modules, and systems worldwide. Its products include critical components consisting of detectors, passive optics, thermal solutions, and PICS; silicon photonics and other advanced optical technologies; and coherent transmission components, transport products, optical amplifiers, passive optical components, optical line systems, and multi-rail platform. The company’s Datacenter and [...] was formerly known as II-VI Incorporated and changed its name to Coherent Corp. in September 2022. Coherent Corp. was incorporated in 1971 and is headquartered in Saxonburg, Pennsylvania. [...] Invest smarter in volatile markets Make informed decisions with the data, context, and analysis beh