COOCOOPER COMPANIES, INC.

Ophthalmic Goods

Revenue: $4.1B; 5.1% YoY
Operating margin: 16.7%; 7.9% YoY
EBITDA: $1.1B; 1.9% YoY
Market cap: $11.3B
Employees: 500; $8M revenue each
Net debt / EBITDA: 2.3×; $2.4B net debt
AI in 10-K: 0.0; mentions per 10K words

Takeover score 1 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
212% of net income
Cash flow under 80% of net income
Dilutive SBCNo
2% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
36% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
31% of assets
Over 40% of assets
Shareholder dissentNo
90% lowest support
Any vote under 80% support

Buyer economics 1 of 4

Low revenue per employeeNo
$8M · 98th pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.0 per 10K words · 0th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
2.3× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$11.3B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
$3M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$2.9B	$3.3B	$3.6B	$3.9B	$4.1B	5.1%
Operating income	$506M	$508M	$533M	$706M	$683M	3.2%
Net income	$2.9B	$386M	$294M	$392M	$375M	4.4%
Operating cash flow	$739M	$692M	$608M	$709M	$796M	12%
Capex	$214M	$242M	$393M	$421M	$362M	14%
Stock-based comp	$44M	$54M	$62M	$75M	$71M	6.1%
Buybacks	$25M	$79M	$0	$0	$290M
Dividends	$3M	$3M	$3M	$0	$0

Deal filings

Filed	Form	Acquirer	Price	Premium
Feb 7, 2025	PREM14A	—	$100.00	25%

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $3M · 10
Open-market sells, 12 mo: $0 · 0
Net: $3M

Pay vs performance

No pay-versus-performance disclosure yet.