Coherent (COHR) FY2021 results: revenue $3.1 billion, up 30.5% on the year
Coherent Corp. (COHR) reported revenue of $3.1 billion for fiscal 2021, the year ended 30 June 2021, up 30.5% on the year before. Net income was $298 million, and diluted earnings per share $2.37. The figures are the company's own, from the 10-K it filed with the SEC on 20 August 2021.
Revenue
$3.1 billion
+30.5% on the year
FY2014FY2021
Operating margin
12.9%
1.7% a year earlier
FY2014FY2021
Net income
$298 million
FY2014FY2021
Diluted EPS
$2.37
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
3,106
2,380
1,362
+30.5%
Cost of revenue
1,928
1,589
841
+21.4%
Gross profit
1,177
791
521
+48.8%
Gross margin
37.9%
33.2%
38.3%
Research and development
330
339
139
-2.6%
Selling, general and administrative
445
413
234
+7.9%
Operating income
402
39.5
149
+918.6%
Operating margin
12.9%
1.7%
10.9%
Interest expense
59.9
89.4
22.4
-33.0%
Pre-tax income
353
-63.9
129
Income tax
55.0
3.1
21.3
+1,674.8%
Effective tax rate
15.6%
n/a
16.5%
Net income
298
-67.0
108
Net margin
9.6%
-2.8%
7.9%
Diluted EPS
$2.37
-$0.79
$1.63
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
574
297
178
+93.2%
Capital expenditure
146
137
137
+6.9%
Free cash flow
428
160
41.4
+166.8%
Free cash flow margin
13.8%
6.7%
3.0%
Cash from investing
-173
-1,179
-224
Cash from financing
676
1,174
4.9
-42.4%
Depreciation and amortisation
270
221
92.4
+22.3%
Share-based compensation
71.0
68.5
21.9
+3.6%
Buybacks
0.0
1.6
1.6
Dividends paid
20.3
0.0
0.0
Diluted shares, weighted
115m
85m
66m
+35.6%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
3,406
2,077
1,133
+64.0%
Redeemable equity
726
0.0
n/a
Debt
1,375
2,255
467
-39.0%
Operating lease liabilities
126
94.7
n/a
+32.6%
Other liabilities
880
808
354
+8.9%
Total liabilities and equity
6,513
5,235
1,954
+24.4%
Fixed assets
n/a
n/a
583
Goodwill
1,297
1,239
320
+4.7%
Intangible assets
718
758
139
-5.3%
Cash and equivalents
1,592
493
205
+222.9%
Receivables
659
598
270
+10.2%
Inventory
696
620
296
+12.3%
Other assets
1,551
1,526
141
+1.6%
Total assets
6,513
5,235
1,954
+24.4%
10-K for the year ended 30 June 2021, filed 20 August 2021: the filing.