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CRDO
Credo Technology Group Holding Ltd · Technology
$271.83
+60.86% this month
VERSUS
⟷
COMPARE
COHR
Coherent Corp. · Technology
$389.57
+10.16% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
CRDO
1
COHR
3
Comparison scoreboard
COHR LEADS 3/5AI Score
CRDO 61.1
COHR ✓73.6
1Y Return
CRDO +217.60%
COHR ✓+373.41%
Fwd P/E
CRDO ✓31.28
COHR 47.09
Target Up.
CRDO -5.71%
COHR ✓-0.15%
Op. Margin
CRDO N/A
COHR 13.57%
Metrics last refreshed: 6/20/2026
Quick take
CRDO vs COHR Stock Comparison: AI Score, Valuation, Performance and Upside
CRDO and COHR both supply high-speed interconnect for AI data centers but through fundamentally different technologies and business models. Credo focuses on active electrical cables and SerDes ICs at shorter reach distances, competing on power and cost in AI GPU cluster intra-rack deployments. Coherent sells optical transceivers and photonic components across a much larger range of applications, with a more complex balance sheet from its recent merger.
The CRDO vs COHR choice frames AEC vs optical technology at the data center interconnect layer — Credo bets that electrical solutions win at GPU cluster intra-rack distances, while Coherent bets that dense optical wins across all AI infrastructure scales; the right investment depends on how quickly AI cluster architectures evolve.
Live analysis · updated 6/20/2026
COHR holds the edge across 3 of 5 key metrics in this comparison. COHR has delivered stronger 1-year price return (+373.41% vs +217.60%), though CRDO trades at the lower forward P/E (31.28x vs 47.09x). Analyst consensus implies meaningfully more upside for COHR (-0.15%) than for CRDO (-5.71%).
Normalized 1Y performance
CRDO
COHR
Recent returns
CRDO
COHR
Analyst price targets & sentiment
CRDO · 18 analysts
STRONG BUYHOLDSTRONG SELL
Strong Buy (1.3/5.0)
Price target range
analyst low$184.00
analyst high$300.00
analyst mean$256.30
current price$271.83
-5.7% upside to analyst mean
COHR · 21 analysts
STRONG BUYHOLDSTRONG SELL
Buy (1.6/5.0)
Price target range
analyst low$230.00
analyst high$461.96
analyst mean$384.45
current price$389.57
-0.1% upside to analyst mean
Who should consider this stock?
CRDO may suit investors who:
- →prefer a pure-play hyperscaler AI interconnect story with a simple product thesis
- →value the cost and power efficiency advantages of AEC over optical at short reach in GPU clusters
- →want a high-growth fabless semiconductor company with a SerDes IP licensing model providing recurring revenue
- →are comfortable with customer concentration risk and the lumpiness of hyperscaler deployment cycles
COHR may suit investors who:
- →prefer a diversified photonics and optical components company with multiple end markets beyond AI
- →value vertical integration in compound semiconductors as a competitive moat in optical transceivers
- →want exposure to 800G transceiver demand across a broader customer base than a single hyperscaler relationship
- →are comfortable with balance sheet leverage from the merger and patient about deleveraging timelines
Performance & AI score
| Metric | CRDO | COHR |
|---|---|---|
| AI score | 61.1 | 73.6 |
| AI rank | #142 | #27 |
| Latest close | $271.83 | $389.57 |
| 1M return | +60.86% | +10.16% |
| 6M return | +102.66% | +128.57% |
| 1Y return | +217.60% | +373.41% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | CRDO | COHR |
|---|---|---|
| 1Y ago | $31.76K (+217.6%) started 2025-06-18 | $47.34K (+373.4%) started 2025-06-18 |
| 5Y ago | $233.33K (+2233.3%) started 2022-01-27 | $57.75K (+477.5%) started 2021-06-18 |
| 10Y ago | $233.33K (+2233.3%) started 2022-01-27 | $194.59K (+1845.9%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | CRDO | COHR |
|---|---|---|
| Market cap | $50.69B | $75.33B |
| Trailing P/E | 108.30 | 181.62 |
| Forward P/E | 31.28 | 47.09 |
| Price/Sales | 37.97 | 12.17 |
| EV/Revenue | 32.34 | 11.61 |
| Analyst target | $256.30 | $384.45 |
| Target upside | -5.71% | -0.15% |
Growth, profitability & risk
| Metric | CRDO | COHR |
|---|---|---|
| Revenue growth | 157.00% | 20.50% |
| Earnings growth | 343.20% | 27548.00% |
| EPS growth | +343.20% | +27548.00% |
| FCF margin | +18.79% | -2.99% |
| Operating margin | N/A | 13.57% |
| Profit margin | 35.37% | 7.10% |
| ROIC proxy | 34.41% | 4.72% |
| Return on equity | 34.41% | 4.72% |
| Dividend yield | 0.00% | N/A |
| Beta | 3.23 | 2.05 |
| Debt/equity | 1.23 | 31.09 |
| Current ratio | 10.15 | 3.05 |
| Quick ratio | 8.51 | 1.71 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
CRDO max drawdown53.59%
COHR max drawdown26.52%
CRDO max wkly drop25.66%
COHR max wkly drop24.71%
5Y risk snapshot
CRDO max drawdown62.04%
COHR max drawdown62.87%
CRDO max wkly drop51.50%
COHR max wkly drop30.16%
10Y risk snapshot
CRDO max drawdown62.04%
COHR max drawdown72.22%
CRDO max wkly drop51.50%
COHR max wkly drop32.69%
Performance metrics by period
| Period | Metric | CRDO | COHR |
|---|---|---|---|
| 1Y | Growth | +217.60% | +373.41% |
| CAGR | +217.85% | +373.92% | |
| Sharpe ratio | 1.73 | 2.42 | |
| Max drawdown | 53.59% | 26.52% | |
| Max daily drop | 14.81% | 19.61% | |
| Max wkly drop | 25.66% | 24.71% | |
| 5Y | Growth | +2233.30% | +477.48% |
| CAGR | +104.98% | +42.01% | |
| Sharpe ratio | 1.24 | 0.81 | |
| Max drawdown | 62.04% | 62.87% | |
| Max daily drop | 46.80% | 29.87% | |
| Max wkly drop | 51.50% | 30.16% | |
| 10Y | Growth | +2233.30% | +1845.90% |
| CAGR | +104.98% | +34.59% | |
| Sharpe ratio | 1.24 | 0.73 | |
| Max drawdown | 62.04% | 72.22% | |
| Max daily drop | 46.80% | 29.87% | |
| Max wkly drop | 51.50% | 32.69% |
Business comparison
| Category | CRDO | COHR |
|---|---|---|
| Company | Credo Technology Group Holding Ltd | Coherent Corp. |
| Sector | Technology | Technology |
| Industry | N/A | N/A |
| Core business | Credo Technology designs high-speed connectivity ICs and active electrical cable (AEC) assemblies for hyperscale data centers. Its SerDes (serializer-deserializer) IP and HiWire AEC products target 100G-to-800G Ethernet connections within AI GPU clusters, where they compete with active optical cables on cost and power efficiency at shorter reach distances. Credo is fabless and has secured significant design wins at major hyperscalers, particularly Microsoft Azure. | Coherent (formerly II-VI) is a vertically integrated photonics and compound semiconductor company producing optical transceivers, laser components, silicon photonics modules, and specialty glass. Its data center segment — primarily 400G and 800G optical transceivers used in AI infrastructure — is the fastest-growing segment, while defense, telecom, and industrial lasers provide revenue diversification. Coherent acquired Viavi's optical communications business and II-VI merged with Coherent to create the current entity. |
| Investor focus | Investors track hyperscaler customer diversification beyond the initial Microsoft concentration, revenue ramp from AI cluster deployment cycles, gross margin trajectory as AEC volume scales, and design-win announcements for next-generation 1.6T interconnect. | Investors focus on data center transceiver revenue as hyperscalers deploy AI clusters requiring dense optical interconnect, gross margin recovery as silicon photonics scales, and deleveraging progress after the leveraged merger that created the current Coherent. |
CRDO strengths
- →HiWire AEC technology offers lower power and cost than active optical cables at AI GPU cluster intra-rack distances
- →Deep Microsoft Azure design win validates the AEC architecture and provides a scalable revenue ramp
- →SerDes IP licensing provides recurring, high-margin revenue that diversifies beyond product sales
COHR strengths
- →Leading position in 800G optical transceivers for AI data centers with design wins across major hyperscalers
- →Vertical integration in compound semiconductors (InP, GaAs) and silicon photonics provides supply chain control
- →Diversified revenue across data center, telecom, defense, and industrial laser markets reduces single-segment risk
Risks to watch — CRDO
- →High customer concentration in Microsoft creates single-account revenue risk
- →Coherent, Marvell, and Broadcom all offer competing high-speed interconnect solutions targeting the same AI cluster market
- →Hyperscaler capex cycles can cause sharp revenue swings as AI cluster builds accelerate or pause
Risks to watch — COHR
- →Legacy debt from the II-VI/Coherent merger weighs on the balance sheet and limits financial flexibility
- →Optical transceiver ASPs are declining as production scales, pressuring gross margins
- →Customers like NVIDIA are investing in co-packaged optics that could eventually reduce demand for discrete transceivers
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