Coherent Inc (COHR)
Receivables turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 5,810,280 | 5,595,240 | 5,306,170 | 5,002,600 | 4,707,600 | 4,598,290 | 4,629,670 | 4,868,520 | 5,160,090 | 4,842,002 | 4,429,536 | 3,866,075 | 3,316,616 | 3,237,660 | 3,193,168 | 3,172,918 | 3,105,891 | 3,044,175 | 2,887,984 | 2,767,746 |
| Receivables | US$ in thousands | 964,100 | 1,010,030 | 891,789 | 819,712,000 | 848,542 | 955,644 | 856,098 | 795,730 | 901,531 | 924,369 | 956,674 | 975,437 | 700,331 | 653,095 | 604,206 | 663,940 | 658,962 | 615,163 | 570,985 | 220,289 |
| Receivables turnover | 6.03 | 5.54 | 5.95 | 0.01 | 5.55 | 4.81 | 5.41 | 6.12 | 5.72 | 5.24 | 4.63 | 3.96 | 4.74 | 4.96 | 5.28 | 4.78 | 4.71 | 4.95 | 5.06 | 12.56 |
June 30, 2025 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $5,810,280K ÷ $964,100K
= 6.03
The receivables turnover ratio for Coherent Inc. exhibits notable fluctuations over the analyzed period, reflecting varying efficiency in collections and credit management. At the end of September 2020, the ratio stood at 12.56, indicating high efficiency in receivables collection. This high level suggests prompt collection of receivables relative to sales during that period.
Subsequently, there was a significant decline by December 31, 2020, to 5.06, and a further slight decrease reaching 4.95 by March 31, 2021. The ratio remained relatively stable around 4.7 to 4.8 during 2021, with the quarter ending September 30, 2021 clocking in at 4.78, and peaking modestly at 5.28 by the end of 2021.
In 2022, the ratio experienced minor fluctuations, with values around 4.96 in March, approximately 4.74 in June, and a decline to 3.96 in the third quarter, indicating a slowdown in receivables collection efficiency. By the end of 2022, the ratio had increased slightly to 4.63. The pattern of recovery continued into 2023, with the ratio rising to 5.24 in March, then improving further to 5.72 in June, and reaching 6.12 in September, suggestive of enhanced collection processes or changes in credit policies.
However, the ratio declined somewhat at the end of 2023 to 5.41, before oscillating in 2024: a decrease to 4.81 in March, followed by an increase to 5.55 in June, and a significant drop to 0.01 in September, which appears to be an anomaly or data irregularity. Subsequently, the ratio recovered sharply to 5.95 by December 2024, and continued to improve into 2025, recording 5.54 in March and 6.03 in June, implying renewed efficiency in collections.
Overall, the receivables turnover trend suggests periods of both contraction and expansion in receivables collection efficiency, with a general trend towards higher ratios from mid-2023 onward. The fluctuation levels and particularly the sudden dip to 0.01 in September 2024 warrant further investigation, but the recent upward trajectory indicates potential improvements in managing receivables.
Peer comparison
Jun 30, 2025