Coherent Corp (COHR) is slightly undervalued and Keysight Technologies Inc (KEYS) is slightly overvalued.
Against our estimates of intrinsic value, COHR trades at the wider discount: a margin of safety of +16%, against -14% for KEYS.
Values as of the 22 Sept 2026 close.
A 10.4x revenue multiple, adjusted for growth and margin, values the shares at $367.54; the price of $310.39 is 16% below that value.
Leak Score 50/100 on 9 of 12 signals
A 8.0x revenue multiple, adjusted for growth and margin, values the shares at $305.41; the price of $347.32 is 14% above that value.
Leak Score 47/100 on 9 of 12 signals
| Metric | COHR | KEYS |
|---|---|---|
| Verdict | Slightly undervalued | Slightly overvalued |
| Price | $310.39 | $347.32 |
| Intrinsic value | $367.54 | $305.41 |
| Margin of safety | +16% | -14% |
| Leak Score | 50/100 (9/12) | 47/100 (9/12) |
| Market cap | $60.8B | $59.1B |
| Revenue growth, 5 years | 18.0% | 5.0% |
| Operating margin | 13.8% | 24.4% |
| Net margin | 10.8% | 19.1% |
| Return on equity | 8.5% | 20.9% |
| Debt to equity | 0.33 | 0.42 |
| P/E | 75.5x | 47.8x |
| Forward P/E | 22.1x | 25.4x |
| P/B | 5.6x | 9.0x |
| Dividend yield | 0.0% | — |