COHR
Coherent, Inc.
COHR offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
MSFT
Microsoft Corporation
MSFT has the edge over COHR overall, supported by stronger valuation and lower modeled downside.
COHR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Weak | |
| Healthy |
COHR's revenue, profitability and balance sheet are currently healthy, but its cash flow is weak.
MSFT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Strong |
MSFT's revenue, profitability, cash flow and balance sheet are all currently healthy.
COHR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 20x | $232 | — |
| Cheap | 27x | $130 | -44% |
| Fair | 34x | $165 | -29% |
| Current | 48x | $232 | — |
| Expensive | 184x | $886 | +282% |
Historical ranges are pointers, not guarantees.
COHR's PE is in its fair range at 48x. If earnings grow as analysts expect, today's price would be 20x next year's earnings, in its cheap range.
MSFT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 25x | $523 | — |
| Cheap | 27x | $525 | +0.4% |
| Current | 27x | $523 | — |
| Fair | 34x | $652 | +25% |
| Expensive | 37x | $711 | +36% |
Historical ranges are pointers, not guarantees.
MSFT has the edge over COHR in the historical PE scenario, which offers more potential upside but is not a forecast.
COHR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
COHR has the edge over MSFT on the outlook, with more favorable profitability expectations.
MSFT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Moderate | |
| High |
Analysts expect strong earnings and revenue growth for MSFT, with profitability holding steady.
COHR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $11.69 | +142% |
| Q3 2026 | $4.83 | +580% |
| Q2 2026 | $4.12 | +$4.64 |
| Q1 2026 | $2.11 | +$2.34 |
| Q4 2025 | $1.03 | +$1.44 |
| Q3 2025 | $0.71 | +$1.94 |
| Q2 2025 | -$0.52 | +$1.32 |
| Q1 2025 | -$0.23 | +$2.64 |
| Q4 2024 | -$0.41 | +$2.41 |
COHR's earnings per share have climbed steadily: $4.83 over the past year, about seven times what it earned the year before, and higher year over year for 10 quarters in a row.
MSFT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $20.79 | +8.6% |
| Q3 2026 | $19.15 | +36% |
| Q2 2026 | $17.95 | +32% |
| Q1 2026 | $16.80 | +30% |
| Q4 2025 | $15.99 | +29% |
| Q3 2025 | $14.06 | +16% |
| Q2 2025 | $13.64 | +16% |
| Q1 2025 | $12.93 | +12% |
| Q4 2024 | $12.41 | +12% |
MSFT's earnings per share have climbed steadily: $19.15 over the past year, up 36% from the year before, and higher year over year for 14 quarters in a row.
COHR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.4B | +50% |
| Q2 2026 | $2B | +34% |
| Q1 2026 | $1.8B | +21% |
| Q4 2025 | $1.7B | +17% |
| Q3 2025 | $1.6B | +17% |
| Q2 2025 | $1.5B | +16% |
| Q1 2025 | $1.5B | +24% |
| Q4 2024 | $1.4B | +27% |
COHR has the edge over MSFT on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +1.4 points |
| Q2 2026 | 14% | +18 points |
| Q1 2026 | 10% | +9.6 points |
| Q4 2025 | 10% | +1 points |
| Q3 2025 | 14% | +12 points |
| Q2 2025 | -4.2% | -9 points |
| Q1 2025 | 0.7% | -1.2 points |
| Q4 2024 | 8.9% | +6.1 points |
COHR's operating margin was 15% last quarter, up 1.4 points from the same quarter a year ago, near the top of its range since 2019.
MSFT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $92.3B | +19% |
| Q2 2026 | $90B | +18% |
| Q1 2026 | $82.9B | +18% |
| Q4 2025 | $81.3B | +17% |
| Q3 2025 | $77.7B | +18% |
| Q2 2025 | $76.4B | +18% |
| Q1 2025 | $70.1B | +13% |
| Q4 2024 | $69.6B | +12% |
MSFT's revenue has grown year over year every quarter since late 2020: $92.3B last quarter, up 19% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 50% | +0.9 points |
| Q2 2026 | 45% | +0.2 points |
| Q1 2026 | 46% | +0.7 points |
| Q4 2025 | 47% | +1.6 points |
| Q3 2025 | 49% | +2.3 points |
| Q2 2025 | 45% | +1.8 points |
| Q1 2025 | 46% | +1.1 points |
| Q4 2024 | 45% | +1.9 points |
MSFT has the edge over COHR on profitability, with a higher operating margin.
COHR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$868.2M | -$810.2M |
| Q2 2026 | -$486.2M | -$485.2M |
| Q1 2026 | -$383.5M | -850% |
| Q4 2025 | -$95.7M | -217% |
| Q3 2025 | -$58M | -195% |
| Q2 2025 | -$1.1M | -102% |
| Q1 2025 | $51.1M | +111% |
| Q4 2024 | $81.7M | +$106M |
COHR's free cash flow has turned negative after years in the green: −$1.8B over the past year.
MSFT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $18.6B | -27% |
| Q2 2026 | $19.6B | -23% |
| Q1 2026 | $15.8B | -22% |
| Q4 2025 | $5.9B | -9.3% |
| Q3 2025 | $25.7B | +33% |
| Q2 2025 | $25.6B | +9.6% |
| Q1 2025 | $20.3B | -3.2% |
| Q4 2024 | $6.5B | -29% |
MSFT has the edge over COHR on cash generation, producing positive trailing cash flow while its opponent burns cash.
COHR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.4% | +6.6M shares |
| 1 year | +5.9% | +11.3M shares |
| 3 years | +34% | +51.7M shares |
| 5 years | +74% | +86.2M shares |
| Available history | +122% | +111M shares |
COHR has 202M diluted shares, up 5.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2021 | — |
| Q1 2021 | — |
| Q2 2020 | — |
| Q1 2020 | $1,000 |
MSFT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -7M shares |
| 1 year | -0.3% | -20M shares |
| 3 years | -0.2% | -16M shares |
| 5 years | -1.6% | -121M shares |
| Available history | -3.2% | -245M shares |
MSFT has the edge over COHR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4.4B |
| Q2 2026 | $4.6B |
| Q1 2026 | $4.6B |
| Q4 2025 | $7.4B |
| Q3 2025 | $5.7B |
| Q2 2025 | $4.5B |
| Q1 2025 | $4.8B |
| Q4 2024 | $5B |
MSFT spent $21B buying back its own shares over the past year, up 5.2% from the year before.
COHR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.7x | Healthy |
| Q2 2026 | 1.5x | Healthy |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | 3.5x | Elevated |
| Q3 2025 | 4.1x | High |
| Q2 2025 | 8.1x | High |
| Q1 2025 | 5.1x | High |
| Q4 2024 | 4.6x | High |
COHR's net debt is about 1.7 years of its operating earnings (EBITDA), down from 4.1 years a year ago.
MSFT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | 0.1x | Very low |
MSFT has the edge over COHR on leverage, with a lower net debt burden relative to earnings.
COHR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.6 | Neutral |
| Stochastic | 16.5 | Oversold |
COHR's weekly RSI is 44 (neutral) and its Stochastic is 16 (oversold).
MSFT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.1 | Neutral |
| Stochastic | 68.0 | Neutral |
MSFT's weekly RSI is 62 (neutral) and its Stochastic is 68 (neutral).
COHR PE vs Technology Sector
| Metric | COHR | Sector median | Relative |
|---|---|---|---|
| PE | 48x | 28x | 72% above |
| PE % | 58 | 35 | 23 pts above |
COHR is trading at 48x earnings, a 72% premium to the Technology sector's median of 28x.
MSFT PE vs Technology Sector
| Metric | MSFT | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 28x | 2% below |
| PE % | 16 | 35 | 19 pts below |
MSFT has the edge over COHR on valuation relative to its sector.
COHR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $252.9 | 8.2% below |
| 20 week MA | $284.1 | 18% below |
| 50 week MA | $277.7 | 16% below |
| 100 week MA | $185.9 | 25% above |
| 200 week MA | $120.6 | 92% above |
COHR has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 92% above its 200-week average.
MSFT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $524.7 | 0.3% below |
| 20 week MA | $484.8 | 7.9% above |
| 50 week MA | $446.9 | 17% above |
| 100 week MA | $453.8 | 15% above |
| 200 week MA | $411.5 | 27% above |
MSFT has the edge over COHR on trend strength, trading above more of its moving averages.
COHR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $33.5 | $77.8 | +132% |
| 2021 | $77.8 | $68.0 | -13% |
| 2022 | $68.0 | $33.1 | -51% |
| 2023 | $33.1 | $43.5 | +32% |
| 2024 | $43.5 | $97.0 | +123% |
| 2025 | $97.0 | $191.7 | +98% |
| 2026 YTD | $191.7 | $232.1 | +21% |
COHR has the edge over MSFT on returns for 2026, with the stronger performance.
MSFT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $159.0 | $222.8 | +40% |
| 2021 | $222.8 | $334.7 | +50% |
| 2022 | $334.7 | $238.7 | -29% |
| 2023 | $238.7 | $376.0 | +58% |
| 2024 | $376.0 | $430.5 | +14% |
| 2025 | $430.5 | $487.7 | +13% |
| 2026 YTD | $487.7 | $523.0 | +7.2% |
MSFT has finished higher in five of the last six years, two of them by more than 50%. It's up 7.2% so far in 2026.