Using the industry peer median P/E multiple (trailing + forward), Coherent, Inc. (COHR) has a fair value of $28.10 based on 4 comparable companies in the Hardware, Equipment & Parts industry.
USD in millions except Fair Price. Subject company highlighted.
| Mkt Cap ($M) | Trailing P/E | Forward P/E | |
|---|---|---|---|
| Coherent, Inc.COHR | 38,163 | — | 149.5x |
| Jabil Inc.JBL | 28,529 | 45.1x | 31.8x |
| Teledyne Technologies IncorporatedTDY | 28,423 | 32.5x | 31.6x |
| Fortive CorporationFTV | 17,451 | 31.6x | 18.5x |
| Trimble Inc.TRMB | 15,577 | 37.4x | 23.0x |
| Industry Median | 35.0x | 27.3x | |
| (*) Profit after tax | 49 | 255 | |
| Equity Value | 1,726 | 6,973 | |
| (/) Outstanding shares | 155 | 155 | |
| Fair Price | $11 | $45 | |
This P/E relative valuation uses the industry peer median Price-to-Earnings ratio to estimate fair value. Both trailing (last 12 months) and forward (next fiscal year analyst estimates) P/E multiples are computed independently.
The industry median trailing P/E is applied to the company's TTM net income, and the forward P/E to analyst-estimated net income. Each produces an equity value divided by shares outstanding to yield a fair price per share. The selected fair value is the average of the trailing and forward legs.