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The Cooper Companies (COO) investor relations material

The Cooper Companies Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary4 Dec, 2025

Executive summary

  • Achieved eighth consecutive quarter of beating consensus earnings expectations, with double-digit earnings growth for the past two years and a target for a third year in a row.

  • Fiscal Q4 2025 revenue reached $1,065.2M, up 5% year-over-year, with organic growth of 3%. Fiscal 2025 revenue totaled $4.1B, up 5% year-over-year, or 4% organically.

  • Raised fiscal 2026-2028 free cash flow target to over $2.2 billion, with $150 million delivered in Q4.

  • Repurchased nearly $200 million of stock in Q4, totaling almost $300 million for the year, and increased share repurchase authorization to $2 billion.

  • Initiated a formal strategic review to explore opportunities for long-term shareholder value, including a board leadership transition.

Financial highlights

  • Q4 consolidated revenues reached a record $1.065 billion, up 4.6%–5% year-over-year, or 3%–3.4% organically.

  • Operating income increased 9% to a 27% margin; non-GAAP EPS grew 11% to $1.15.

  • Gross margin declined slightly to 66.2% (non-GAAP) due to tariffs, product mix, and reorganization costs.

  • Free cash flow was $150 million in Q4; net debt at $2.4 billion, with leverage ratio improved to 1.76x.

  • Q4 2025 GAAP diluted EPS was $0.43, down 27% year-over-year; non-GAAP diluted EPS was $1.15, up 11%.

Outlook and guidance

  • Fiscal 2026 consolidated revenue guidance: $4,299–$4,338 million (4.5%–5.5% organic growth).

  • CooperVision: $2,900–$2,925 million (4.5%–5.5% organic growth); CooperSurgical: $1,399–$1,413 million (4%–5% organic growth).

  • Q1 2026 total revenue guidance is $1,019–$1,030 million, with 3%–4% organic growth.

  • Non-GAAP EPS guidance: $4.45–$4.60; free cash flow expected at $575–$625 million for 2026.

  • CapEx to decline as investment cycle winds down; over $2.2 billion free cash flow expected from 2026–2028.

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Frequently asked questions

The Cooper Companies, Inc. develops, manufactures, and markets a broad range of contact lenses, including spherical, toric and multifocal products that address the full array of vision corrections needs for a growing population of worldwide contact lens wearers. Because the company's products address vision problems for which there is great variance in patient tolerance and lifestyle requirements, its customer support services are just as important to patient approval of the product as its product performance.

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