At a glance
The Cooper Companies, Inc is worth $11.66B, about 33 times its fiscal 2025 earnings. Revenue grew 5.1% to $4.09B in fiscal 2025, with 9.2% kept as profit; over 5 years it has grown 11.0% a year. It pays no dividend; it spent $393.4M buying back its shares over FY2021–FY2025. The stock returned −12.3% over the past year with dividends reinvested and −10.2% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 31.7% in the 2020 crash (S&P 500: 33.7%) and 41.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 7 months and 23 months after the lows.
The business in plain English
Cooper Companies is a medical device maker based in San Ramon, California, selling in more than 130 countries. It has two businesses. CooperVision makes contact lenses and brought in $2.74 billion, or 67% of the company's $4.09 billion in revenue for the fiscal year ended October 31, 2025. CooperSurgical, which focuses on fertility and women's health, brought in $1.35 billion, or 33%.
CooperVision sells daily, two-week and monthly lenses, including ones that correct astigmatism (an irregularly shaped cornea) and presbyopia (age-related difficulty focusing up close). Lenses are replaced on a set schedule, which tends to bring repeat sales. The Biofinity monthly line is its top seller. MyDay and clariti 1 day are its daily brands. MiSight 1 day is approved in the US, China and Japan to slow worsening nearsightedness in children. Customers include optical chains, global retailers, buying groups and mass merchandisers.
CooperSurgical sells more than 600 products and services to women's health (OB/GYN) offices, hospitals, surgery centers and fertility clinics. They include supplies for in vitro fertilization (fertilizing eggs in a lab), donor eggs and sperm, genetic testing, cord blood and cord tissue storage, and Paragard, a hormone-free copper intrauterine device sold only in the US. By region, the United States produced 50.2% of fiscal 2025 revenue, Europe 30.6% and the rest of the world 19.2%.
Price history
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COO -12.3% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Coopervision Segment | $2.74B | 67% |
| Coopersurgical Segment | $1.35B | 33% |
By geography
| United States | $2.05B | 50.2% |
| Europe | $1.25B | 30.6% |
| Rest of World | $785.2M | 19.2% |
Latest results
- In Q3 FY2026 (ended Jul 31, 2026), revenue was $1.07B, up 0.6% from a year earlier, and net income was $432.8M (+340.3%).
- For fiscal 2025, revenue was $4.09B (+5.1% year over year; +11.0% a year from FY2020 to FY2025) with a 9.2% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +11.0% good |
|---|---|
| Operating margin | 16.7% good |
| Free cash flow margin | 10.6% good |
| Return on equity (FY2025) | 4.6% weak |
| Return on assets (FY2025) | 3% watch |
| Net cash (cash minus debt) | $-2.39B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $2.43B | $238.4M | $176.2M |
| FY2021 | $2.92B | $2.94B | $524.2M |
| FY2022 | $3.31B | $385.8M | $450.4M |
| FY2023 | $3.59B | $294.2M | $215.0M |
| FY2024 | $3.90B | $392.3M | $288.1M |
| FY2025 | $4.09B | $374.9M | $433.7M |
Valuation snapshot
| Market value | $11.66B |
|---|---|
| P/E ratio | 32.8 |
| Dividend yield | 0% |
Rank among 1514 US companies
Market value at each year end
The Cooper Companies’s market value went from $8.53B at the end of 2016 to $11.66B on Nov 2, 2026, up 37%; since the end of 2025 it is down 27%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $11.66B | -27.4% |
| 2025 | $16.06B | -12.5% |
| 2024 | $18.35B | -2.1% |
| 2023 | $18.74B | +14.8% |
| 2022 | $16.32B | -21.2% |
| 2021 | $20.70B | +16.0% |
| 2020 | $17.85B | +13.2% |
| 2019 | $15.76B | +25.8% |
| 2018 | $12.53B | +17.7% |
| 2017 | $10.65B | +24.7% |
| 2016 | $8.53B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| COO price data to Nov 2, 2026 | -25.2% | -12.3% | -9.2% | -10.2% | +3.5% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -25.2% |
| 2025 | -10.8% |
| 2024 | -2.8% |
| 2023 | +14.5% |
| 2022 | -21.1% |
| 2021 | +15.3% |
| 2020 | +13.1% |
| 2019 | +26.3% |
| 2018 | +16.8% |
| 2017 | +24.6% |
| 2016 | +30.4% |
| 2015 | -17.2% |
| 2014 | +30.9% |
| 2013 | +34.0% |
| 2012 | +31.3% |
| 2011 | +25.3% |
| 2010 | +48.0% |
| 2009 | +133.1% |
| 2008 | -56.8% |
| 2007 | -14.5% |
| 2006 | -13.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 58.2% over that stretch · deepest drop along the way 77.1%, back to its old high 22.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 31.7% over that stretch · deepest drop along the way 31.7%, back to its old high 6.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 40% over that stretch · deepest drop along the way 41%, back to its old high 22.9 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 10 open-market purchases ($3.2M) and 0 sales ($0.00).
| Date | Insider | Type | Value |
|---|---|---|---|
| Dec 16, 2025 | Albert G III White President & CEO, Director | buy | $808K |
| Sep 16, 2026 | Lawrence Erik Kurzius Director | buy | $549K |
| Sep 14, 2026 | Lawrence Erik Kurzius Director | buy | $539K |
| Sep 11, 2026 | Walter M Jr Rosebrough Director | buy | $379K |
| Sep 11, 2026 | Paul A Keel Director | buy | $250K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.51% | Mar 31, 2026 |
| BlackRock, Inc. | 7.1% | Mar 31, 2025 |
| Capital World Investors | 4% | Mar 31, 2026 |
ETFs with the most weight in COO
| GDOC Future Health Care Equity ETF | 4.24% |
| KMID Virtus KAR Mid-Cap ETF | 3.43% |
| TMFM Motley Fool Mid-Cap Growth ETF | 2.31% |
| XHE SPDR S&P Health Care Equipment ETF | 1.81% |
| RSPH Invesco S&P 500 Equal Weight Health Care ETF | 1.66% |
| QQJG Invesco ESG NASDAQ Next Gen 100 ETF | 1.56% |
| QQQJ Invesco NASDAQ Next Gen 100 ETF | 1.08% |
| PINK Simplify Health Care ETF | 0.98% |
What could go wrong
- Fertility and genetic services draw extra scrutiny. CooperSurgical's genetic testing, egg and sperm selection services and stem cell storage face growing regulatory scrutiny, lab licensing rules and ethical concerns. Any of these could raise costs or reduce demand.
- Bigger customers, more pricing pressure. Optical chains, retailers, group practices and fertility clinic networks are consolidating, so large key accounts make up more of Cooper's sales. Losing one, or giving ground on price, could hurt results.
- Disruption at a few key plants. Lens production relies on major sites in Belgium, Costa Rica, Hungary, Puerto Rico, the UK and the US. A shutdown, capacity problem or supplier shortage could leave Cooper short of products.
- Device rules, approvals and recalls. Contact lenses and surgical devices need clearance from regulators such as the FDA and EU authorities. Delays, stricter rules, manufacturing compliance failures or recalls could hold up launches, disrupt production and hurt Cooper's reputation.
- Half of sales come from abroad. About half of net sales in fiscal 2024 and 2025 came from outside the US. Currency swings, tariffs, trade sanctions and hard-to-enter markets such as China can cut into results.
- Sizable debt and interest-rate exposure. As of July 31, 2026, Cooper had $2.54 billion of debt against $154.7 million of cash and investments. Higher interest rates could raise borrowing costs and limit flexibility.
Recent events
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Other company announcement
- Quarterly results released; Other company announcement
- Executive or board change
- Shareholder vote results
- Quarterly results released
- Major agreement signed
- Major agreement signed; Executive or board change; Investor presentation or announcement
- Executive or board change
- Quarterly results released; Executive or board change; Investor presentation or announcement
For income and retirement investors
Cooper Companies pays no dividend. Its yield was 0% as of October 28, 2026. It once paid a token dividend of no more than a penny per share a year (adjusted for its 4-for-1 stock split) but paid none in fiscal 2024 or 2025. Instead, it returns cash through share repurchases (buybacks): $393 million over fiscal 2021–2025, including $290 million in fiscal 2025. The share count fell 3.8% between December 2021 and September 2026. For an income investor, any cash would have to come from selling shares.
The stock has fallen sharply in downturns. It dropped 77.1% in the 2008 financial crisis and took about 22.5 months from its low to recover. It fell 31.7% in the 2020 COVID crash and recovered in about 6.6 months. It fell 41% in the 2022 bear market and took about 22.9 months to recover. As of October 28, 2026, it was down 43% over five years. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Cooper Companies make money?
Cooper earns most of its money selling contact lenses, with the rest from fertility and women's health products. In the fiscal year ended October 31, 2025, CooperVision, the lens business, produced $2.74 billion, or 67% of $4.09 billion in revenue. CooperSurgical produced $1.35 billion, or 33%, from items such as in vitro fertilization supplies, donor eggs and sperm, genetic testing, cord blood storage and the Paragard copper intrauterine device. Its gross margin, the share of sales left after production costs, was 65.5%.
Does Cooper Companies pay a dividend?
No. Cooper's dividend yield was 0% as of October 28, 2026, and the company paid no dividends in fiscal 2024 or 2025. Before that it paid a token dividend of no more than a penny per share a year, adjusted for its 4-for-1 stock split. That came to about $3 million a year in total. Instead, it has returned cash through share buybacks, including $290.1 million in fiscal 2025. Buybacks shrink the share count, but they pay nothing directly to shareholders.
What is MiSight and why does it matter to Cooper?
MiSight 1 day is a daily disposable contact lens designed to slow worsening nearsightedness (myopia) in children. Cooper's annual report describes it as the first and only product approved by the US Food and Drug Administration to slow myopia in children aged 8 to 12 at the start of treatment. That approval came in November 2019. China approved it in August 2021 and Japan in August 2025. Cooper calls myopia management an attractive new market and is investing to educate eye care practitioners and families.
How has Cooper Companies stock performed?
The share price has fallen over the past one, three and five years. As of October 28, 2026, it was down 17.2% over one year, 23% over three years and 43% over five years, but up 36% over ten years. Its deepest drop in the past three years was 52.1%. Revenue grew at an average of 11% a year from fiscal 2020 to fiscal 2025. Growth slowed to 5.1% in fiscal 2025 and to 0.6% year over year in the quarter ended July 31, 2026.
How much debt does Cooper Companies have?
Cooper had $2.54 billion of total debt as of July 31, 2026, against $154.7 million of cash and investments. That leaves net debt of about $2.39 billion. For comparison, shareholders' equity was $8.33 billion. Free cash flow (cash from operations minus capital spending) was $433.7 million in fiscal 2025. Cooper's annual report lists both the debt itself and exposure to interest rates as risks, because higher rates could raise its borrowing costs.