ANET vs COHR Stock Comparison: AI Score, Valuation, Performance and Upside
ANET and COHR both sell into AI data centre networks but occupy very different economic positions. Arista sells complete switching systems with proprietary software, earning high margins and holding deep customer relationships. Coherent sells the optical components and transceivers that connect those switches, a business with genuine technical depth in materials but structurally lower margins and faster product turnover. Arista is the higher-quality franchise; Coherent offers more direct exposure to optics volume growth.
Use this ANET vs COHR comparison to weigh software-defended margins against component volume leverage. Arista's software makes its position hard to displace but its growth is tied to a few very large customers. Coherent's optics demand scales with every high-speed port installed, which is a larger unit opportunity, earned at thinner margins with more competition.
COHR holds the edge across 3 of 5 key metrics in this comparison. COHR leads on both 1-year return (+177.72%) and forward P/E quality (19.07x vs 38.68x for ANET), a relatively favorable combination of momentum and valuation. ANET leads on both revenue growth (37.70%) and operating margin (45.39%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for COHR (+56.11%) than for ANET (+20.77%).
Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.
- Want a high-margin, software-differentiated networking franchise
- Believe Ethernet will win the AI back-end network over proprietary alternatives
- Value consistent profitability and a strong balance sheet
- Accept hyperscaler customer concentration as the main structural risk
- Want direct exposure to optical transceiver volume growth in AI clusters
- Value vertical integration into scarce photonic materials
- Like having industrial and telecom end markets as diversification
- Accept component-level margins and a leveraged balance sheet
| Metric | ANET | COHR |
|---|---|---|
| AI scorei | 75.2 | 71.8 |
| AI ranki | #22 | #31 |
| Latest closei | $206.55 | $295.83 |
| 1M returni | +2.13% | +0.50% |
| 6M returni | +71.03% | +21.50% |
| 1Y returni | +44.81% | +177.72% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | ANET | COHR |
|---|---|---|
| 1Y ago | $14.44K (+44.4%) started 2025-09-25 | $27.76K (+177.6%) started 2025-09-25 |
| 5Y ago | $92.63K (+826.3%) started 2021-09-27 | $48.7K (+387.0%) started 2021-09-27 |
| 10Y ago | $388.39K (+3783.9%) started 2016-09-26 | $126.97K (+1169.7%) started 2016-09-26 |
Hypothetical — past performance does not guarantee future results.
| Metric | ANET | COHR |
|---|---|---|
| Market capi | $251.73B | $52.11B |
| Trailing P/Ei | 63.36 | 64.74 |
| Forward P/Ei | 38.68 | 19.07 |
| Price/Salesi | 16.42 | 12.17 |
| EV/Revenuei | 22.61 | 7.75 |
| Analyst targeti | $241.04 | $415.36 |
| Target upsidei | +20.77% | +56.11% |
| Metric | ANET | COHR |
|---|---|---|
| Revenue growthi | 37.70% | 33.70% |
| Earnings growthi | 35.70% | 27548.00% |
| EPS growthi | +35.70% | +27548.00% |
| FCF margini | +36.92% | -9.13% |
| Operating margini | 45.39% | 11.83% |
| Profit margini | 38.37% | 11.31% |
| ROIC proxyi | 31.48% | 7.98% |
| Return on equityi | 31.48% | 7.98% |
| Dividend yieldi | N/A | N/A |
| Payout ratioi | 0.00% | 0.00% |
| Dividend growth streaki | N/A | N/A |
| Betai | 1.62 | 2.11 |
| Debt/equityi | 0.73 | 31.61 |
| Current ratioi | 2.96 | 2.43 |
| Quick ratioi | 2.29 | 1.17 |
Over the past year, ANET and COHR have moved moderately in the same direction (correlation of 0.46), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | ANET | COHR |
|---|---|---|---|
| 1Y | Growthi | +44.38% | +177.59% |
| CAGRi | +44.46% | +178.00% | |
| Volatilityi | 54.05% | 85.73% | |
| Sharpe ratioi | 0.87 | 1.57 | |
| Sortino ratioi | 1.26 | 2.38 | |
| Max drawdowni | 28.33% | 47.98% | |
| Current drawdowni | 1.88% | 30.70% | |
| Avg drawdowni | 11.66% | 12.03% | |
| Ulcer Indexi | 13.95% | 16.74% | |
| Max daily dropi | 13.61% | 14.24% | |
| Max wkly dropi | 20.97% | 28.87% | |
| 5Y | Growthi | +826.26% | +386.96% |
| CAGRi | +56.15% | +37.30% | |
| Volatilityi | 48.83% | 65.67% | |
| Sharpe ratioi | 1.07 | 0.75 | |
| Sortino ratioi | 1.60 | 1.09 | |
| Max drawdowni | 50.42% | 62.87% | |
| Current drawdowni | 1.88% | 30.70% | |
| Avg drawdowni | 11.59% | 24.62% | |
| Ulcer Indexi | 15.68% | 30.93% | |
| Max daily dropi | 22.35% | 29.87% | |
| Max wkly dropi | 20.97% | 30.16% | |
| 10Y | Growthi | +3783.89% | +1169.66% |
| CAGRi | +44.20% | +28.95% | |
| Volatilityi | 45.57% | 58.82% | |
| Sharpe ratioi | 0.94 | 0.65 | |
| Sortino ratioi | 1.37 | 0.95 | |
| Max drawdowni | 52.20% | 72.22% | |
| Current drawdowni | 1.88% | 30.70% | |
| Avg drawdowni | 13.50% | 27.95% | |
| Ulcer Indexi | 18.30% | 33.93% | |
| Max daily dropi | 24.23% | 29.87% | |
| Max wkly dropi | 24.17% | 32.69% |
| Category | ANET | COHR |
|---|---|---|
| Company | Arista Networks, Inc. | Coherent Corp. |
| Sector | Technology | Technology |
| Industry | Computer Hardware | Scientific & Technical Instruments |
| Core business | Supplier of high-speed Ethernet switching systems and the EOS network operating system, focused on cloud and AI data centre networks, large enterprises, and campus deployments. Sells systems built around merchant silicon plus its own software. | Vertically integrated maker of optical and photonic components, including high-speed datacom transceivers for AI data centres, lasers for industrial and medical use, indium phosphide materials, and telecom optics. |
| Investor focus | AI back-end network wins, hyperscaler spending and customer concentration, gross margin as AI mix rises, and enterprise and campus diversification. | Datacom transceiver volumes and mix at the highest speeds, indium phosphide capacity, margin improvement and portfolio pruning, and debt reduction. |
- Software-led approach with a single operating system across platforms is a durable differentiator against competitors
- Well positioned as Ethernet displaces proprietary interconnects in AI training clusters
- High gross margins and strong balance sheet with a long record of profitability
- Vertical integration into materials such as indium phosphide is a real advantage when laser supply is tight
- Direct beneficiary of AI clusters requiring vastly more high-speed optical interconnect
- Industrial and telecom businesses diversify away from pure data centre cyclicality
- A large share of revenue comes from a small number of hyperscale customers who can shift spending or design their own
- AI-heavy deals can carry lower gross margins than traditional enterprise business
- Some hyperscalers build in-house switching, a structural competitive risk
- Components are more price-competitive and lower margin than systems and software
- Carries meaningful debt from acquisition history, limiting flexibility
- Transceiver generations turn over quickly, requiring continuous investment to stay on the leading speed
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