Amphenol or Coherent: Which Stock Has More Upside?
Even as Coherent surged 17% during the past Week, its peer Amphenol may be a better choice. Consistently evaluating alternatives is core to sound investment approach. Amphenol (APH) stock offers superior revenue growth across key periods, better profitability, and relatively lower valuation vs Coherent (COHR) stock, suggesting you may be better off investing in APH
- APH’s quarterly revenue growth was 53.4%, vs. COHR’s 17.3%.
- In addition, its Last 12 Months revenue growth came in at 47.4%, ahead of COHR’s 20.8%.
- APH leads on profitability over both periods – LTM margin of 24.6% and 3-year average of 22.2%.
A single stock can be risky, but there is a huge value to a broader, diversified approach we take with the Trefis High Quality Portfolio. Separately, consider what the long-term performance for your portfolio could be if you combined 10% commodities, 10% gold, and 2% crypto with equities.
COHR develops and markets engineered materials, optoelectronic components, high-power laser materials, and photonic transceivers for data centers and telecom optical networks worldwide. APH designs and manufactures electrical, electronic, and fiber optic connectors across harsh environment, communications, and sensor segments, distributing products via sales teams, representatives, and electronics distributors.
Valuation & Performance Overview
| COHR | APH | Preferred | |
|---|---|---|---|
| Valuation | |||
| P/EBIT Ratio | 39.7 | 32.9 | APH |
| Revenue Growth | |||
| Last Quarter | 17.3% | 53.4% | APH |
| Last 12 Months | 20.8% | 47.4% | APH |
| Last 3 Year Average | 16.5% | 20.7% | APH |
| Operating Margins | |||
| Last 12 Months | 10.1% | 24.6% | APH |
| Last 3 Year Average | 5.1% | 22.2% | APH |
| Momentum | |||
| Last 3 Year Return | 385.4% | 276.8% | APH |
Note: For “Last 3 Year Return” metric, preferred stock is one with higher returns unless the returns are too high (>300%) which creates risk of sell off.
See more revenue details: COHR Revenue Comparison | APH Revenue Comparison
See more margin details: COHR Operating Income Comparison | APH Operating Income Comparison
But do these numbers tell the full story? Read Buy or Sell APH Stock to see if Amphenol’s edge holds up under the hood or if Coherent still has cards to play (see Buy or Sell COHR Stock).
Historical Market Performance
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | Avg | Best | |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| COHR Return | 126% | -10% | -49% | 24% | 118% | 68% | 373% | ||
| APH Return | 22% | 35% | -12% | 32% | 41% | 100% | 439% | <=== | |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 14% | 108% | ||
| Monthly Win Rates [3] | |||||||||
| COHR Win Rate | 50% | 58% | 42% | 42% | 75% | 50% | 53% | ||
| APH Win Rate | 58% | 75% | 25% | 58% | 75% | 80% | 62% | ||
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | 64% | <=== | |
| Max Drawdowns [4] | |||||||||
| COHR Max Drawdown | -37% | -28% | -56% | -21% | -7% | -47% | -33% | ||
| APH Max Drawdown | -37% | -8% | -28% | -4% | -5% | -15% | -16% | ||
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | -12% | <=== | |
[1] Cumulative total returns since the beginning of 2020
[2] 2025 data is for the year up to 11/7/2025 (YTD)
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
No matter how good the numbers, stock investment is never a smooth ride. There is a risk you must factor in. Read APH Dip Buyer Analyses and COHR Dip Buyer Analyses to see how these stocks have fallen and recovered in the past.
Whatever your view on either of these stocks, investing in one or two stocks remains a risky proposition. Instead, the Trefis High Quality (HQ) Portfolio, with a collection of 30 stocks, has a track record of comfortably outperforming its benchmark that includes all 3 — the S&P 500, S&P mid-cap, and Russell 2000 indices. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.