FN vs COHR Stock Comparison: AI Score, Valuation, Performance and Upside
Fabrinet is a contract manufacturer that profits from volume and execution across the optical supply chain at relatively lower margins, while Coherent is a vertically integrated photonics and laser technology company with its own proprietary products and a direct strategic relationship with Nvidia. Investors typically weigh Fabrinet's steadier, lower-margin manufacturing model against Coherent's higher-margin, higher-profile AI optics growth story.
This comparison is best used to weigh a diversified, lower-margin optical contract manufacturer against a proprietary, higher-margin photonics company more directly levered to AI datacenter optics demand and its Nvidia relationship.
COHR holds the edge across 3 of 5 key metrics in this comparison. COHR has delivered stronger 1-year price return (+126.97% vs -3.30%), though FN has the better forward P/E setup (17.99x vs 19.07x for COHR). On fundamentals, FN is growing revenue faster (44.60%), while COHR maintains the higher operating margin (11.83%) — a classic growth-versus-profitability split. Analyst consensus implies meaningfully more upside for FN (+87.30%) than for COHR (+56.11%).
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.
- Prefer a diversified, lower-margin manufacturing exposure to optical networking growth
- Value consistent profitability and disciplined capital allocation
- Are comfortable with customer concentration typical of contract manufacturing
- Want steadier, less volatile exposure to the optical supply chain
- Want proprietary, higher-margin exposure to AI datacenter optics
- Believe the Nvidia strategic relationship will continue supporting growth
- Are comfortable paying a premium valuation following a strong share price run
- Value a broader photonics and laser technology portfolio beyond pure transceivers
| Metric | FN | COHR |
|---|---|---|
| AI scorei | 58.6 | 71.0 |
| AI ranki | #147 | #29 |
| Latest closei | $385.20 | $250.60 |
| 1M returni | +2.74% | -7.59% |
| 3M returni | -16.30% | -9.52% |
| 6M returni | -42.73% | -23.60% |
| 1Y returni | -3.30% | +126.97% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | FN | COHR |
|---|---|---|
| 1Y ago | $9.67K (-3.3%) started 2025-10-15 | $21.61K (+116.1%) started 2025-10-16 |
| 5Y ago | $39.23K (+292.3%) started 2021-10-15 | $43.36K (+333.6%) started 2021-10-18 |
| 10Y ago | $92.6K (+826.0%) started 2016-10-17 | $97.7K (+877.0%) started 2016-10-17 |
Hypothetical — past performance does not guarantee future results.
| Metric | FN | COHR |
|---|---|---|
| Market capi | $14.05B | $52.11B |
| Trailing P/Ei | 29.99 | 64.74 |
| Forward P/Ei | 17.99 | 19.07 |
| Price/Salesi | N/A | 12.17 |
| EV/Revenuei | 2.92 | 7.75 |
| Analyst targeti | $734.11 | $415.36 |
| Target upsidei | +87.30% | +56.11% |
| Metric | FN | COHR |
|---|---|---|
| Revenue growthi | 44.60% | 33.70% |
| Earnings growthi | 58.10% | 27548.00% |
| EPS growthi | +58.10% | +27548.00% |
| FCF margini | -1.25% | -9.13% |
| Operating margini | 10.23% | 11.83% |
| Profit margini | 10.19% | 11.31% |
| ROIC proxyi | 21.33% | 7.98% |
| Return on equityi | 21.33% | 7.98% |
| Dividend yieldi | N/A | N/A |
| Payout ratioi | 0.00% | 0.00% |
| Dividend growth streaki | N/A | N/A |
| Betai | 1.22 | 2.11 |
| Debt/equityi | 0.16 | 31.61 |
| Current ratioi | 2.25 | 2.43 |
| Quick ratioi | 1.35 | 1.17 |
Over the past year, FN and COHR have moved strongly in the same direction (correlation of 0.76), 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 | FN | COHR |
|---|---|---|---|
| 1Y | Growthi | -3.30% | +116.11% |
| CAGRi | -3.30% | +116.40% | |
| Volatilityi | 75.62% | 87.24% | |
| Sharpe ratioi | 0.28 | 1.27 | |
| Sortino ratioi | 0.39 | 1.91 | |
| Max drawdowni | 49.78% | 47.98% | |
| Current drawdowni | 48.40% | 41.30% | |
| Avg drawdowni | 17.96% | 13.60% | |
| Ulcer Indexi | 23.53% | 18.30% | |
| Max daily dropi | 19.38% | 14.24% | |
| Max wkly dropi | 29.64% | 28.87% | |
| 5Y | Growthi | +292.34% | +333.56% |
| CAGRi | +31.45% | +34.15% | |
| Volatilityi | 56.97% | 66.18% | |
| Sharpe ratioi | 0.69 | 0.71 | |
| Sortino ratioi | 1.02 | 1.04 | |
| Max drawdowni | 49.78% | 62.87% | |
| Current drawdowni | 48.40% | 41.30% | |
| Avg drawdowni | 13.78% | 24.90% | |
| Ulcer Indexi | 17.83% | 31.10% | |
| Max daily dropi | 21.91% | 29.87% | |
| Max wkly dropi | 29.64% | 30.16% | |
| 10Y | Growthi | +825.96% | +877.00% |
| CAGRi | +24.95% | +25.61% | |
| Volatilityi | 49.82% | 59.18% | |
| Sharpe ratioi | 0.61 | 0.61 | |
| Sortino ratioi | 0.89 | 0.89 | |
| Max drawdowni | 51.11% | 72.22% | |
| Current drawdowni | 48.40% | 41.30% | |
| Avg drawdowni | 13.77% | 28.13% | |
| Ulcer Indexi | 17.95% | 34.01% | |
| Max daily dropi | 21.91% | 29.87% | |
| Max wkly dropi | 29.64% | 32.69% |
| Category | FN | COHR |
|---|---|---|
| Company | Fabrinet | Coherent Corp |
| Sector | Technology | Technology |
| Industry | Electronic Components | Scientific & Technical Instruments |
| Core business | Fabrinet provides advanced optical and electro-mechanical manufacturing services, producing optical transceivers and components for networking, datacenter, and other industrial customers. | Coherent designs and manufactures optical components, including transceivers, lasers, and co-packaged optics, serving AI data center, industrial, and communications end markets. |
| Investor focus | Investors track Fabrinet's datacom revenue growth, customer concentration, and capacity expansion supporting demand for 800G and 1.6T optical transceivers. | Investors track Coherent's datacenter and AI-related transceiver revenue growth, margin expansion following its restructuring, and its strategic partnership and investment from Nvidia. |
- Trusted manufacturing partner to many leading optical component companies
- Diversified end markets beyond pure AI datacenter demand
- Consistent profitability with disciplined capital allocation
- Broad, vertically integrated photonics and laser technology portfolio
- Strategic investment and supply relationship with Nvidia supporting AI datacenter demand
- Margin expansion story following a multi-year restructuring effort
- Lower gross margins typical of contract manufacturing versus proprietary product companies
- Revenue tied to a relatively small number of large optical customers
- Geographic concentration risk from Thailand-based manufacturing operations
- More complex, diversified business mix increases execution complexity
- Elevated valuation following its strong AI-driven share price run
- Competitive intensity in optical transceivers and co-packaged optics
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