The Cooper Companies (COO) · Q2 2026 results and valuation

At 7.3% growth a year (3-year revenue growth), the model's fair value is $26.45 a share — the stock trades 138% above it. Today's price assumes 15.5% growth a year.

1. Guidance ↓

   Revenue guidance for CooperVision was lowered because of channel inventory.

   Source quote

   “Meaning the entire reason for the reduction in the revenue guidance for CooperVision was tied to just channel inventory.”

2. Guidance

   COO expects Q4 consolidated revenue of $1.057 billion to $1.08 billion, representing organic growth of 0% to 2%.

   Source quote

   “For Q4, we expect consolidated revenue of $1.057 billion to $1.08 billion, representing organic growth of 0% to 2%.”

3. Figure

   Consolidated revenue reached $1.066 billion for the third fiscal quarter, an increase of approximately 1% on both a reported and organic basis.

   Source quote

   “For the third fiscal quarter, consolidated revenue was $1.066 billion, increasing approximately 1% on both a reported and organic basis.”

4. Fading

   Future free cash flow is higher at CooperVision, although CooperSurgical has higher free cash flow per dollar of revenue.

   Source quote

   “But I would say, I guess I would say the upside of future free cash flow is actually greater at CooperVision... If I look at a couple of other things, cash flow like free cash flow on a per revenue basis -- per dollar revenue basis is higher at CooperSurgical than it is CooperVision. But I mean, as you get to Q4, it's going to start coming down.”

Management sounded noticeably less positive answering analysts than in its prepared script — a bigger drop than in 94% of calls. Scripts are polished in advance; a drop under questioning often marks the topics analysts pressed on, so the answers deserve a closer read than the script.

Sentences that drove the tone

“This performance was driven by strong customer partnerships, ongoing expansion in high-value categories such as torics and multifocals, growing adoption of our premium MyDay Energys offering and the successful launch...”

“To conclude on fertility, we expect continued strength, including a solid fourth quarter, supported by healthy market trends and growing momentum across our innovation pipeline, particularly in genomics.”

“Together, these initiatives position us to accelerate growth, expand profitability and increase cash generation in the years ahead.”