At this time, it appears that Coherent Corp's Piotroski F Score is Healthy. Although some professional money managers and academia have recently criticized
Piotroski F-Score model, we still consider it an effective method of
predicting the state of the financial strength of any organization that is not predisposed to accounting gimmicks and manipulations. Using this score on the criteria to originate an efficient long-term portfolio can help investors filter out the purely speculative stocks or equities playing fundamental games by manipulating their earnings..
6.0
Piotroski F Score - Healthy
1 | Current Return On Assets | Positive | Focus |
2 | Change in Return on Assets | Increased | Focus |
3 | Cash Flow Return on Assets | Positive | Focus |
4 | Current Quality of Earnings (accrual) | Decreasing | Focus |
5 | Asset Turnover Growth | Increase | Focus |
6 | Current Ratio Change | Increase | Focus |
7 | Long Term Debt Over Assets Change | Higher Leverage | Focus |
8 | Change In Outstending Shares | Decrease | Focus |
9 | Change in Gross Margin | No Change | Focus |
Coherent Corp Piotroski F Score Drivers
The critical factor to consider when applying the Piotroski F Score to Coherent Corp is to make sure Coherent is not a subject of accounting manipulations and runs a healthy internal audit department. So, if Coherent Corp's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back. Below are the main accounts that are used in the Piotroski F Score model. By analyzing the historical trends of the mains drivers, investors can determine if Coherent Corp's financial numbers are properly reported.
Coherent Corp F Score Driver Matrix
One of the toughest challenges investors face today is learning how to quickly synthesize historical
financial statements and information provided by the company, SEC reporting, and various external parties in order to project the various growth rates. Understanding the correlation between Coherent Corp's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Coherent Corp in a much-optimized way.
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About Coherent Corp Piotroski F Score
F-Score is one of many stock grading techniques developed by Joseph Piotroski, a professor of accounting at the Stanford University Graduate School of Business. It was published in 2002 under the paper titled
Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers. Piotroski F Score is based on binary analysis strategy in which stocks are given one point for passing 9 very simple fundamental tests, and zero point otherwise. According to Mr. Piotroski's analysis, his F-Score binary model can help to predict the performance of low price-to-book stocks.
Coherent Corp Current Valuation Drivers
We derive many important indicators used in calculating different scores of Coherent Corp from analyzing Coherent Corp's financial statements. These drivers represent accounts that assess Coherent Corp's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Coherent Corp's important valuation drivers and their relationship over time.
About Coherent Corp Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Coherent Corp's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Coherent Corp using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at
the intrinsic value of Coherent Corp based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing
financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our
fundamental analysis page.
Coherent Corp. develops, manufactures, and markets engineered materials, optoelectronic components, and devices worldwide. Coherent Corp. was incorporated in 1971 and is headquartered in Saxonburg, Pennsylvania. Coherent Corp operates under Scientific Technical Instruments classification in the United States and is traded on NASDAQ Exchange. It employs 23658 people.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Coherent Corp without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.
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Pair Trading with Coherent Corp
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Coherent Corp position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Coherent Corp will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Coherent Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Coherent Corp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Coherent Corp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Coherent Corp to buy it.
The correlation of Coherent Corp is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Coherent Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Coherent Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Coherent Corp can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation MatchingComplementary Tools for Coherent Stock analysis
When running Coherent Corp price analysis, check to
measure Coherent Corp's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Coherent Corp is operating at the current time. Most of Coherent Corp's value examination focuses on studying past and present price action to
predict the probability of Coherent Corp's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Coherent Corp's price. Additionally, you may evaluate how the addition of Coherent Corp to your portfolios can decrease your overall portfolio volatility.
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Is Coherent Corp's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost
the valuation of Coherent Corp. If investors know Coherent will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Coherent Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY (0.61) | Market Capitalization 6.6 B | Quarterly Revenue Growth YOY 0.69 | Return On Assets 0.0299 | Return On Equity 0.0214 |
The market value of Coherent Corp is measured differently than its book value, which is the value of Coherent that is recorded on the company's balance sheet. Investors also form their own opinion of Coherent Corp's value that differs from its market value or its book value, called intrinsic value, which is Coherent Corp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Coherent Corp's market value can be influenced by many factors that don't directly affect Coherent Corp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Coherent Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine Coherent Corp value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Coherent Corp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.