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 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $265.50M | - | $250.79M | $250.72M | $227.79M | - | $233.14M | $257.64M | $252.01M | - |
| Cost of Revenue | $166.00M | - | $151.79M | $157.15M | $137.98M | - | $179.05M | $161.46M | $154.47M | - |
| Gross Profit | $99.50M | - | $99.00M | $93.57M | $89.81M | - | $54.09M | $96.19M | $97.54M | - |
| R&D | $33.31M | - | $30.36M | $29.94M | $28.34M | - | $27.18M | $27.49M | $29.38M | - |
| SG&A | $36.09M | - | $35.09M | $34.88M | $32.81M | - | $32.66M | $31.60M | $31.16M | - |
| Total Operating Expenses | $107.23M | - | $91.15M | $93.47M | $87.98M | - | $307.44M | $84.15M | $78.44M | - |
| D&A | $15.89M | - | - | - | $15.34M | - | - | - | $16.21M | - |
| Operating Income | ($7.74M) | - | $7.86M | $104.0K | $1.83M | - | ($253.35M) | $12.04M | $19.10M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | ($565.0K) | - | $8.19M | $1.67M | $6.86M | - | ($8.92M) | $4.86M | $9.50M | - |
| Net Income | $1.58M | - | $7.46M | $6.61M | $3.76M | - | ($233.59M) | $20.15M | $24.10M | - |
| EPS - Basic | $0.04 | - | $0.18 | $0.16 | $0.09 | - | ($5.33) | $0.45 | $0.52 | - |
| EPS - Diluted | $0.04 | - | $0.18 | $0.16 | $0.09 | - | ($5.33) | $0.45 | $0.52 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $480.76M | $403.79M | $346.03M | $359.18M | $363.05M | $620.04M | $883.87M | $720.54M | $496.45M | $514.67M |
| Accounts Receivable | $192.44M | $181.73M | $166.38M | $201.04M | $176.91M | $171.13M | $163.54M | $176.15M | $184.01M | $219.05M |
| Inventory | $319.01M | $313.42M | $323.93M | $303.84M | $287.62M | $284.78M | $320.72M | $400.84M | $431.90M | $453.87M |
| Accounts Payable | $54.72M | $39.29M | $40.23M | $41.52M | $37.92M | $35.38M | $39.58M | $26.23M | $26.68M | $28.62M |
| Current Assets | $1.43B | $1.42B | $1.43B | $1.47B | $1.44B | $1.43B | $1.57B | $1.72B | $1.83B | $1.91B |
| Total Assets | $2.42B | $2.42B | $2.38B | $2.38B | $2.32B | $2.29B | $2.36B | $2.50B | $2.60B | $2.70B |
| Current Liabilities | $247.18M | $234.04M | $213.38M | $216.95M | $197.03M | $205.02M | $194.18M | $190.48M | $192.13M | $214.86M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $305.85M | $296.15M | $276.15M | $274.90M | $256.91M | $264.79M | $240.52M | $242.06M | $257.72M | $283.51M |
| Stockholders' Equity | $2.12B | $2.13B | $2.10B | $2.10B | $2.06B | $2.02B | $2.11B | $2.25B | $2.34B | $2.42B |
| Retained Earnings | $2.65B | $2.64B | $2.63B | $2.62B | $2.62B | $2.61B | $2.61B | $2.84B | $2.82B | $2.80B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($5.46M) | - | - | - | $13.45M | - | - | - | $54.60M | - |
| Investing Cash Flow | $95.25M | - | - | - | ($274.39M) | - | - | - | $23.74M | - |
| Financing Cash Flow | ($11.71M) | - | - | - | ($5.67M) | - | - | - | ($90.77M) | - |
| CapEx | $16.31M | - | - | - | $24.82M | - | - | - | $28.05M | - |
| Free Cash Flow | ($21.77M) | - | - | - | ($11.37M) | - | - | - | $26.54M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 37.5% | - | 39.5% | 37.3% | 39.4% | - | 23.2% | 37.3% | 38.7% | - |
| Operating margin | -2.9% | - | 3.1% | 0.0% | 0.8% | - | -108.7% | 4.7% | 7.6% | - |
| EBITDA margin | 3.1% | - | - | - | 7.5% | - | - | - | 14.0% | - |
| Net margin | 0.6% | - | 3.0% | 2.6% | 1.6% | - | -100.2% | 7.8% | 9.6% | - |
| Free cash flow margin | -8.2% | - | - | - | -5.0% | - | - | - | 10.5% | - |
| FCF / Net income | -13.75 | - | - | - | -3.03 | - | - | - | 1.10 | - |
| R&D / Revenue | 12.5% | - | 12.1% | 11.9% | 12.4% | - | 11.7% | 10.7% | 11.7% | - |
| SG&A / Revenue | 13.6% | - | 14.0% | 13.9% | 14.4% | - | 14.0% | 12.3% | 12.4% | - |
| Effective tax rate | -55.4% | - | 52.3% | 20.1% | 64.6% | - | - | 19.4% | 28.3% | - |
| Return on assets | 0.1% | - | 0.3% | 0.3% | 0.2% | - | -9.9% | 0.8% | 0.9% | - |
| Return on equity | 0.1% | - | 0.4% | 0.3% | 0.2% | - | -11.0% | 0.9% | 1.0% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 5.80 | 6.08 | 6.72 | 6.79 | 7.33 | 6.98 | 8.09 | 9.02 | 9.52 | 8.91 |
| Quick ratio | 4.51 | 4.74 | 5.20 | 5.39 | 5.87 | 5.59 | 6.44 | 6.91 | 7.27 | 6.80 |
| Cash ratio | 1.95 | 1.73 | 1.62 | 1.66 | 1.84 | 3.02 | 4.55 | 3.78 | 2.58 | 2.40 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.14 | 1.14 | 1.13 | 1.13 | 1.12 | 1.13 | 1.11 | 1.11 | 1.11 | 1.12 |
| Liabilities / Assets | 0.13 | 0.12 | 0.12 | 0.12 | 0.11 | 0.12 | 0.10 | 0.10 | 0.10 | 0.11 |
| Efficiency | ||||||||||
| Asset turnover | 0.11 | - | 0.11 | 0.11 | 0.10 | - | 0.10 | 0.10 | 0.10 | - |
| Inventory turnover | 0.52 | - | 0.47 | 0.52 | 0.48 | - | 0.56 | 0.40 | 0.36 | - |
| Days sales outstanding | 265d | - | 242d | 293d | 283d | - | 256d | 250d | 267d | - |
| Days inventory outstanding | 701d | - | 779d | 706d | 761d | - | 654d | 906d | 1021d | - |
| Days payable outstanding | 120d | - | 97d | 96d | 100d | - | 81d | 59d | 63d | - |
| Cash conversion cycle | 846d | - | 924d | 902d | 944d | - | 829d | 1096d | 1224d | - |
| Valuation | ||||||||||
| P / E | 2864.7x | - | 439.9x | 429.1x | 701.6x | - | - | 187.5x | 174.4x | - |
| P / B | 2.3x | - | 1.6x | 1.4x | 1.3x | - | 1.5x | 1.7x | 1.8x | - |
| P / S | 18.5x | - | 13.4x | 11.7x | 11.9x | - | 14.0x | 14.7x | 16.6x | - |
| EV / EBITDA | 544.0x | - | - | - | 136.4x | - | - | - | 104.5x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 16.6% | - | 7.6% | -2.7% | -9.6% | - | -22.6% | -24.2% | -27.4% | - |
| Revenue CAGR (3y) | -8.6% | - | -10.4% | -12.7% | -14.9% | - | -15.0% | -11.5% | -10.0% | - |
| Revenue CAGR (5y) | -5.1% | - | -4.7% | -3.3% | -1.8% | - | -6.7% | -6.7% | -4.4% | - |
| Gross profit growth (YoY) | 10.8% | - | 83.0% | -2.7% | -7.9% | - | -59.3% | -34.9% | -33.6% | - |
| Operating income growth (YoY) | - | - | - | -99.1% | -90.4% | - | - | -83.3% | -74.7% | - |
| Net income growth (YoY) | -57.8% | - | - | -67.2% | -84.4% | - | - | -67.7% | -59.9% | - |
| EPS growth (YoY) | -55.6% | - | - | -64.4% | -82.7% | - | - | -65.6% | -58.7% | - |
| EPS CAGR (3y) | -68.3% | - | -50.3% | -47.4% | -59.0% | - | - | -29.6% | -25.5% | - |
| EPS CAGR (5y) | -49.8% | - | -22.9% | -25.8% | -33.3% | - | - | -19.6% | -12.6% | - |
| FCF growth (YoY) | -91.5% | - | - | - | - | - | - | - | 584.8% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | 20.0% | - |
| Book value growth (YoY) | 2.7% | 5.1% | -0.5% | -6.6% | -12.0% | -16.2% | -11.3% | -6.1% | 0.1% | 1.3% |
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%
Peer comparison
Same SIC group: Semiconductors & Related Devices
Comparing IPG PHOTONICS CORP against the 5 most active filers in the same SIC group.