IPGP · Ipg Photonics Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.00B | $977.13M | $1.29B | $1.43B | $1.46B | $1.20B |
| Cost of Revenue | $622.31M | $638.98M | $745.74M | $874.13M | $764.46M | $661.73M |
| Gross Profit | $381.46M | $338.15M | $541.70M | $555.41M | $696.40M | $539.00M |
| R&D | $117.40M | $109.78M | $98.70M | $116.11M | $139.57M | $126.90M |
| SG&A | $143.14M | $124.31M | $125.75M | $131.25M | $125.88M | $110.00M |
| Total Operating Expenses | $368.36M | $546.41M | $309.73M | $385.91M | $328.51M | $340.34M |
| D&A | $66.85M | $61.44M | $69.62M | $90.56M | $96.33M | $94.55M |
| Operating Income | $13.10M | ($208.25M) | $231.97M | $169.50M | $367.88M | $198.66M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $14.00M | $19.64M | $56.00M | $72.59M | $88.61M | $45.35M |
| Net Income | $31.10M | ($181.53M) | $218.88M | $109.91M | $278.42M | $159.57M |
| EPS - Basic | $0.73 | ($4.09) | $4.64 | $2.17 | $5.21 | $3.00 |
| EPS - Diluted | $0.73 | ($4.09) | $4.63 | $2.16 | $5.16 | $2.97 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $403.79M | $620.04M | $514.67M | $698.21M | $709.11M | $876.23M |
| Accounts Receivable | $181.73M | $171.13M | $219.05M | $211.35M | $262.12M | $264.32M |
| Inventory | $313.42M | $284.78M | $453.87M | $509.36M | $460.75M | $364.99M |
| Accounts Payable | $39.29M | $35.38M | $28.62M | $46.23M | $55.84M | $25.75M |
| Current Assets | $1.42B | $1.43B | $1.91B | $1.99B | $2.35B | $2.15B |
| Total Assets | $2.42B | $2.29B | $2.70B | $2.74B | $3.17B | $2.94B |
| Current Liabilities | $234.04M | $205.02M | $214.86M | $274.65M | $313.43M | $214.58M |
| Long-term Debt | - | - | - | $0 | $16.03M | $34.16M |
| Total Liabilities | $296.15M | $264.79M | $283.51M | $357.92M | $423.32M | $341.59M |
| Stockholders' Equity | $2.13B | $2.02B | $2.42B | $2.39B | $2.75B | $2.59B |
| Retained Earnings | $2.64B | $2.61B | $2.80B | $2.58B | $2.47B | $2.19B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $75.34M | $247.90M | $295.99M | $212.65M | $389.70M | $285.33M |
| Investing Cash Flow | ($265.23M) | $208.73M | ($237.55M) | $296.95M | ($416.28M) | ($99.57M) |
| Financing Cash Flow | ($54.19M) | ($339.62M) | ($236.38M) | ($514.55M) | ($125.07M) | ($10.08M) |
| CapEx | $78.80M | $98.52M | $110.48M | $110.14M | $123.11M | $87.70M |
| Free Cash Flow | ($3.45M) | $149.37M | $185.50M | $102.51M | $266.59M | $197.64M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 38.0% | 34.6% | 42.1% | 38.9% | 47.7% | 44.9% |
| Operating margin | 1.3% | -21.3% | 18.0% | 11.9% | 25.2% | 16.5% |
| EBITDA margin | 8.0% | -15.0% | 23.4% | 18.2% | 31.8% | 24.4% |
| Net margin | 3.1% | -18.6% | 17.0% | 7.7% | 19.1% | 13.3% |
| Free cash flow margin | -0.3% | 15.3% | 14.4% | 7.2% | 18.2% | 16.5% |
| FCF / Net income | -0.11 | -0.82 | 0.85 | 0.93 | 0.96 | 1.24 |
| R&D / Revenue | 11.7% | 11.2% | 7.7% | 8.1% | 9.6% | 10.6% |
| SG&A / Revenue | 14.3% | 12.7% | 9.8% | 9.2% | 8.6% | 9.2% |
| Effective tax rate | 31.0% | - | 20.4% | 39.8% | 24.1% | 22.1% |
| Return on assets | 1.3% | -7.9% | 8.1% | 4.0% | 8.8% | 5.4% |
| Return on equity | 1.5% | -9.0% | 9.1% | 4.6% | 10.1% | 6.2% |
| Return on invested capital | - | - | - | 4.3% | 10.1% | 5.9% |
| Liquidity | ||||||
| Current ratio | 6.08 | 6.98 | 8.91 | 7.23 | 7.49 | 10.01 |
| Quick ratio | 4.74 | 5.59 | 6.80 | 5.38 | 6.02 | 8.31 |
| Cash ratio | 1.73 | 3.02 | 2.40 | 2.54 | 2.26 | 4.08 |
| Leverage | ||||||
| Debt / Equity | - | - | - | 0.00 | 0.01 | 0.01 |
| Debt / Assets | - | - | - | 0.00 | 0.01 | 0.01 |
| Debt / EBITDA | - | - | - | 0.00 | 0.03 | 0.12 |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.14 | 1.13 | 1.12 | 1.15 | 1.15 | 1.13 |
| Liabilities / Assets | 0.12 | 0.12 | 0.11 | 0.13 | 0.13 | 0.12 |
| Efficiency | ||||||
| Asset turnover | 0.41 | 0.43 | 0.48 | 0.52 | 0.46 | 0.41 |
| Inventory turnover | 1.99 | 2.24 | 1.64 | 1.72 | 1.66 | 1.81 |
| Days sales outstanding | 66d | 64d | 62d | 54d | 65d | 80d |
| Days inventory outstanding | 184d | 163d | 222d | 213d | 220d | 201d |
| Days payable outstanding | 23d | 20d | 14d | 19d | 27d | 14d |
| Cash conversion cycle | 227d | 206d | 270d | 247d | 259d | 267d |
| Valuation | ||||||
| P / E | 98.1x | - | 23.4x | 43.8x | 33.4x | 75.4x |
| P / B | 1.4x | 1.6x | 2.1x | 2.0x | 3.4x | 4.6x |
| P / S | 3.0x | 3.3x | 4.0x | 3.4x | 6.4x | 10.0x |
| EV / EBITDA | 33.1x | - | 15.3x | 15.9x | 18.5x | 38.2x |
| Growth | ||||||
| Revenue growth (YoY) | 2.7% | -24.1% | -9.9% | -2.1% | 21.7% | -8.7% |
| Revenue CAGR (3y) | -11.1% | -12.5% | 2.4% | 2.8% | 13.2% | -5.2% |
| Revenue CAGR (5y) | -3.5% | -5.8% | 5.1% | 0.3% | 7.7% | 5.9% |
| Gross profit growth (YoY) | 12.8% | -37.6% | -2.5% | -20.2% | 29.2% | -11.1% |
| Operating income growth (YoY) | - | - | 36.9% | -53.9% | 85.2% | -15.0% |
| Net income growth (YoY) | - | - | 99.1% | -60.5% | 74.5% | -11.5% |
| EPS growth (YoY) | - | - | 114.4% | -58.1% | 73.7% | -11.3% |
| EPS CAGR (3y) | -30.3% | - | 16.0% | -13.6% | -11.2% | -22.4% |
| EPS CAGR (5y) | -24.5% | - | -8.9% | -19.4% | 1.2% | -8.1% |
| FCF growth (YoY) | - | -19.5% | 81.0% | -61.5% | 34.9% | 4.0% |
| FCF CAGR (5y) | - | -4.7% | -4.5% | -18.1% | 10.0% | 1.2% |
| Book value growth (YoY) | 5.1% | -16.2% | 1.3% | -13.2% | 5.9% | 8.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$1.00B totalReportable Segment$1.00B · 100.0%
Product / service
$2.01B totalMaterials Processing$860.19M · 42.8%
High Power Continuous Wave CWLasers$308.82M · 15.4%
Amplifiers Laser Systems Service Parts Accessories$264.51M · 13.2%
Laser And Non Laser Systems$147.24M · 7.3%
Other Applications$143.59M · 7.2%
Pulsed Lasers$143.25M · 7.1%
Medium And Low Power CWLasers$88.18M · 4.4%
Quasi Continuous Wave QCWLasers$51.77M · 2.6%
Geographic
$1.73B totalAsia$480.08M · 27.8%
CN$291.90M · 16.9%
North America$267.18M · 15.5%
Europe$243.70M · 14.1%
Other European Geographical Areas$138.54M · 8.0%
Other Asian Geographical Areas$121.81M · 7.1%
DE$105.16M · 6.1%
JP$66.37M · 3.8%
Rest Of World$12.81M · 0.7%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
4.72
Safe
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Semiconductors & Related Devices
Comparing IPG PHOTONICS CORP against the 5 most active filers in the same SIC group.