The Cooper Companies, Inc.

The filings present a company whose reported top line has grown steadily since fiscal 2020, with revenue rising from $2.43 billion in fiscal 2020 to $4.09 billion in fiscal 2025, though the fiscal 2019 to 2020 decline from $2.65 billion to $2.43 billion shows the trend is not one-directional. Fiscal 2025 growth over fiscal 2024 works out to about 4.9%. Currency exposure is material: management's hypothetical 10% move in the dollar against the British pound, euro and Japanese yen would shift operating income by about $34.9 million in the quarter ended January 31, 2026, and forward contracts address only part of the balance sheet exposure. The risk factors also name tariffs, supply of silicone hydrogel lens components, cybersecurity incidents, health privacy rules under HIPAA and GDPR, and EU medical device regulations MDR and IVDR. Management reported its disclosure controls as effective and identified no changes in internal control over financial reporting. Capital allocation includes a share repurchase authorization raised to $2.0 billion in September 2025, with $873.9 million remaining as of January 31, 2026. The UK payroll tax matter from the 2014 Sauflon acquisition is the most concrete contingent item in the excerpts, with an estimated loss of £0 to £71.7 million plus interest. No forensic scores are on file for this synthesis, so no Beneish, Piotroski, Altman or Fog results are interpreted here. Readers may want to look at the full 10-K and 10-Q for the MD&A results discussion, which the excerpt does not include.

Catalyst.Fiscal 2025 revenue reached $4.09 billion, up from $3.9 billion in fiscal 2024, roughly 4.9% growth by simple calculation. The longer series shows revenue rising from $2.53 billion in fiscal 2018, with a dip from $2.65 billion in fiscal 2019 to $2.43 billion in fiscal 2020. The company reports two segments: CooperVision, which makes contact lenses, and CooperSurgical, which covers fertility and women's health. The MD&A excerpt provided for the quarter ended January 31, 2026 does not include the results discussion, so the specific drivers of recent growth cannot be confirmed from this data.

Hidden risk.On March 2, 2026, the U.K. First-tier Tribunal largely supported HMRC in a payroll tax dispute tied to the 2014 acquisition of the Sauflon Group. The company says the decision was incorrect and intends to appeal. The estimated loss ranges from £0 to £71.7 million, plus accrued interest, and the outcome depends on the appeal. Separately, management says most of its debt is variable-rate, tied to SOFR and the federal funds rate, net of interest rate swaps, so rate moves affect the balance sheet even though management calls a 100 basis point change immaterial to quarterly interest expense.