Coherent Inc (COHR)

The analysis of Coherent Inc.'s days of inventory on hand (DOH) over the provided periods reveals significant fluctuations and trends that warrant further consideration. As of September 30, 2022, the company's DOH was reported at approximately 160.61 days, indicating that, on average, inventory was held for about five and a quarter months. Moving into the subsequent period, June 30, 2023, the DOH decreased markedly to approximately 131.11 days, reflecting an improvement in inventory management or a reduction in inventory levels relative to sales.

This downward trend persisted into September 30, 2023, with the DOH remaining relatively stable at around 131.12 days, suggesting that the company maintained its efficiency in managing inventory during this interval. However, a notable shift occurred by June 30, 2024, when the DOH increased again to approximately 144.40 days. This rise indicates a lengthening of the inventory holding period, potentially signaling inventory buildup, slower turnover rates, or changes in production or sales cycles.

The most extraordinary data point appears in the period ending June 30, 2025, where the DOH surges to approximately 9,421.59 days. Such an extreme figure is highly anomalous for typical manufacturing or technology companies and suggests possible data inaccuracies, reporting errors, or extraordinary circumstances not aligned with standard inventory behavior. In practical terms, this figure implies that inventory solutions or accounting entries have significantly skewed the data, and meaningful analysis should be approached with caution.

Overall, the trend from September 2022 through September 2023 demonstrates a period of inventory efficiency improvement followed by a reversion toward longer inventory holding periods. The dramatic spike in mid-2025 warrants further validation to ensure data integrity before drawing definitive conclusions.

Peer comparison

Jun 30, 2025