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Coherent vs Optex Systems: revenue, profit, margins and growth compared

Coherent brought in $7.1B of revenue in fiscal 2026, Optex Systems $41.3M in fiscal 2025. Revenue changed by +22.5% at Coherent and +21.6% at Optex Systems on the year before, so Coherent grew faster. Coherent kept 11.3% of its revenue as net profit, Optex Systems 12.5%. Free cash flow was -$1B at Coherent and $6.4M at Optex Systems.

Side by side, latest fiscal year

COHROPXS
Fiscal year endedFY2026 (June 30, 2026)FY2025 (September 28, 2025)
Revenue$7.1B$41.3M
Revenue growth+22.5%+21.6%
Net income$805M$5.1M
Net margin11.3%12.5%
Free cash flow-$1B$6.4M
Free cash flow margin-14.4%15.6%
Earnings per share (diluted)$4.12$0.74
Cash$1.2B$6.4M
Debt$3.2Bn/a
Price to earnings71.814.1
Market value$57.9B$72.5M
Dividend yieldn/an/a
Rank by revenue in sector#67 of 530 · Technology#454 of 530 · Technology

Over the years

Revenue
COHR FY2019: $1.4BCOHR FY2020: $2.4BCOHR FY2020: $3.1BCOHR FY2022: $3.3BCOHR FY2023: $5.2BCOHR FY2024: $4.7BCOHR FY2025: $5.8BCOHR FY2026: $7.1BOPXS FY2018: $20.9MOPXS FY2019: $24.5MOPXS FY2020: $25.9MOPXS FY2021: $18.2MOPXS FY2022: $22.4MOPXS FY2023: $25.7MOPXS FY2024: $34MOPXS FY2025: $41.3MFY18FY19FY20FY21FY22FY23FY24FY25FY26
COHR $7.1BOPXS $41.3M
Net income
COHR FY2019: $107.5MCOHR FY2020: -$67MCOHR FY2020: $297.6MCOHR FY2022: $234.8MCOHR FY2023: -$259.5MCOHR FY2024: -$156.2MCOHR FY2025: $49.4MCOHR FY2026: $805MOPXS FY2018: $1.4MOPXS FY2019: $5.7MOPXS FY2020: $1.8MOPXS FY2021: $2.1MOPXS FY2022: $1.3MOPXS FY2023: $2.3MOPXS FY2024: $3.8MOPXS FY2025: $5.1MFY18FY19FY20FY21FY22FY23FY24FY25FY26
COHR $805MOPXS $5.1M
Net margin
COHR FY2019: 7.9%COHR FY2020: -2.8%COHR FY2020: 9.6%COHR FY2022: 7.1%COHR FY2023: -5.0%COHR FY2024: -3.3%COHR FY2025: 0.8%COHR FY2026: 11.3%OPXS FY2018: 6.7%OPXS FY2019: 23.1%OPXS FY2020: 7.0%OPXS FY2021: 11.7%OPXS FY2022: 5.7%OPXS FY2023: 8.8%OPXS FY2024: 11.1%OPXS FY2025: 12.5%FY18FY19FY20FY21FY22FY23FY24FY25FY26
COHR 11.3%OPXS 12.5%
Revenue growth
COHR FY2020: +74.7%COHR FY2020: +30.5%COHR FY2022: +6.8%COHR FY2023: +55.6%COHR FY2024: -8.8%COHR FY2025: +23.4%COHR FY2026: +22.5%OPXS FY2019: +17.6%OPXS FY2020: +5.5%OPXS FY2021: -29.6%OPXS FY2022: +22.8%OPXS FY2023: +14.6%OPXS FY2024: +32.5%OPXS FY2025: +21.6%FY19FY20FY21FY22FY23FY24FY25FY26
COHR +22.5%OPXS +21.6%
Free cash flow
COHR FY2019: $41.4MCOHR FY2020: $160.4MCOHR FY2020: $428MCOHR FY2022: $99MCOHR FY2023: $198MCOHR FY2024: $198.9MCOHR FY2025: $192.8MCOHR FY2026: -$1BOPXS FY2018: $872KOPXS FY2019: $17KOPXS FY2020: $3.8MOPXS FY2021: $207KOPXS FY2022: $1.8MOPXS FY2023: -$672KOPXS FY2024: $1.1MOPXS FY2025: $6.4MFY18FY19FY20FY21FY22FY23FY24FY25FY26
COHR -$1BOPXS $6.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Coherent and Optex Systems

Which is bigger by revenue, Coherent or Optex Systems?

Coherent is bigger by revenue: $7.1B in fiscal 2026, against $41.3M for Optex Systems in fiscal 2025.

Which keeps more of its revenue as profit, Coherent or Optex Systems?

Coherent had a net margin of 11.3% in fiscal 2026; Optex Systems had 12.5% in fiscal 2025.

Which grew revenue faster, Coherent or Optex Systems?

In their latest fiscal years revenue changed by +22.5% at Coherent and +21.6% at Optex Systems.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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