What is Coherent's work in process?

Coherent (COHR) reported work in process of $1.24B in Q1 2026.

How has Coherent's work in process changed year-over-year?

Coherent's work in process increased by 66.0% year-over-year, from $745.89M to $1.24B.

What is the long-term trend for Coherent's work in process?

Over 4 years (2021 to 2025), Coherent's work in process has grown at a 25.1% compound annual growth rate (CAGR), from $336.39M to $824.36M.

What does work in process mean?

Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.

Coherent COHR Work in process

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Lumentum Holdings Inc.LITE

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MACOM Technology SolutionsMTSI

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Other financials

Income statement

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Revenue$1.8B+20.5%

Gross profit$679.9M+28.9%

Net income$191.4M+1,118%

EPS (diluted)$0.97+982%

Balance sheet

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Cash & equivalents$2.2B+36.9%

Total debt$3.4B-13.2%

Total equity$10.7B+99.5%

Total assets$17.3B+19.7%

Cash flow

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Operating cash flow$57.9M-69.1%

CapEx$289.7M+159%

Free cash flow-$383.5M-850%

Valuation

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Market cap$79.67B+531%

Enterprise value$80.87B+441%

P/E137.3×—

P/S12.1×+9.8×

Profitability

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Gross margin36.8%+2.3pp

Net margin1.7%+1.0pp

FCF margin-8.1%-12.7pp

Returns & leverage

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Return on equity1.8%+1.0pp

Debt / equity0.3×-0.4×

Current ratio3×+0.6×

Where this comes from

Reported directly by Coherent in its filing.

Tagged under the XBRL concept us-gaap:InventoryWorkInProcessNetOfReserves.

The official record: Coherent’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Coherent's work in process?: Coherent (COHR) reported work in process of $1.24B in Q1 2026.
How has Coherent's work in process changed year-over-year?: Coherent's work in process increased by 66.0% year-over-year, from $745.89M to $1.24B.
What is the long-term trend for Coherent's work in process?: Over 4 years (2021 to 2025), Coherent's work in process has grown at a 25.1% compound annual growth rate (CAGR), from $336.39M to $824.36M.
What does work in process mean?: Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.