IPGP

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IPG Photonics Corp.

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Key Metrics

Previous Close: $74.43
52-Week Range: $71.38 – $155.82
Market Cap: $3.12B
P/E (TTM): 112.78
EPS (TTM): 0.65
Dividend Yield: —

Advanced Metrics

Price/Book: 1.47
PEG Ratio: 1.83
Return on Equity: 1.30%
Return on Assets: 1.10%
Gross Margin: 38.35%
Operating Margin: 7.60%
Profit Margin: 2.58%
Current Ratio: 6.18
Debt/Equity: 0.01
Total Debt: $16.25M
Free Cash Flow: $48.48M
Revenue Growth: 11.10%
Earnings Growth: -22.80%
Enterprise Value: $2.31B

IPGP Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$1.43B	$1.29B	$977.13M	$1.00B
Cost of Revenue	$874.13M	$745.74M	$638.98M	$622.31M
Gross Profit	$555.41M	$541.70M	$338.15M	$381.46M
Research & Development	$116.11M	$98.70M	$109.78M	$117.40M
Selling, General & Admin	$207.90M	$211.43M	$213.90M	$241.00M
Operating Expenses	$324.01M	$310.13M	$323.68M	$358.40M
Operating Income	$231.40M	$231.57M	$14.48M	$23.06M
EBITDA	$321.97M	$301.19M	$75.92M	$89.91M
Pretax Income	$183.35M	$274.88M	-$161.89M	$45.10M
Income Tax	$72.59M	$56.00M	$19.64M	$14.00M
Net Income	$109.91M	$218.88M	-$181.53M	$31.10M
Diluted EPS	2.16	4.63	-4.09	0.73
Diluted Shares	50.92M	47.32M	44.34M	42.65M

IPGP Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$698.21M	$514.67M	$620.04M	$403.79M
Receivables	$211.35M	$219.05M	$171.13M	$181.73M
Inventory	$509.36M	$453.87M	$284.78M	$313.42M
Current Assets	$1.99B	$1.91B	$1.43B	$1.42B
Total Assets	$2.74B	$2.70B	$2.29B	$2.42B
Current Liabilities	$274.65M	$214.86M	$205.02M	$234.04M
Total Debt	$38.05M	$18.26M	$17.96M	$17.25M
Total Liabilities	$357.92M	$283.51M	$264.79M	$296.15M
Retained Earnings	$2.58B	$2.80B	$2.61B	$2.64B
Shareholders' Equity	$2.39B	$2.42B	$2.02B	$2.13B
Working Capital	$1.71B	$1.70B	$1.23B	$1.19B

IPGP Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$212.65M	$295.99M	$247.90M	$75.34M
Capital Expenditure	-$110.14M	-$110.48M	-$98.52M	-$78.80M
Free Cash Flow	$102.51M	$185.50M	$149.37M	-$3.45M
Depreciation & Amortisation	$90.56M	$69.62M	$61.44M	$66.85M
Stock-Based Compensation	$38.30M	$39.50M	$37.07M	$42.95M
Investing Cash Flow	$296.95M	-$237.55M	$208.73M	-$265.23M
Financing Cash Flow	-$514.55M	-$236.38M	-$339.62M	-$54.19M
Share Repurchases	-$499.51M	-$223.50M	-$343.82M	-$53.13M
Net Change in Cash	-$4.95M	-$177.95M	$117.01M	-$244.08M

IPGP Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$227.79M	$250.72M	$250.79M	$274.47M	$265.50M
Cost of Revenue	$137.98M	$157.15M	$151.79M	$175.40M	$166.00M
Gross Profit	$89.81M	$93.57M	$99.00M	$99.07M	$99.50M
Research & Development	$28.34M	$29.94M	$30.36M	$28.77M	$33.31M
Selling, General & Admin	$57.24M	$60.43M	$58.86M	$64.47M	$60.63M
Operating Expenses	$85.57M	$90.37M	$89.22M	$93.24M	$93.94M
Operating Income	$4.24M	$3.20M	$9.78M	$5.83M	$5.56M
EBITDA	$19.58M	$19.03M	$25.42M	$25.89M	$21.46M
Pretax Income	$10.62M	$8.27M	$15.65M	$10.56M	$1.02M
Income Tax	$6.86M	$1.67M	$8.19M	-$2.71M	-$565.00K
Net Income	$3.76M	$6.61M	$7.46M	$13.27M	$1.58M
Diluted EPS	0.09	0.16	0.18	0.31	0.04
Diluted Shares	42.83M	42.58M	42.56M	42.62M	42.91M

IPGP Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$363.05M	$359.18M	$346.03M	$403.79M	$480.76M
Receivables	$176.91M	$201.04M	$166.38M	$181.73M	$192.44M
Inventory	$287.62M	$303.84M	$323.93M	$313.42M	$319.01M
Current Assets	$1.44B	$1.47B	$1.43B	$1.42B	$1.43B
Total Assets	$2.32B	$2.38B	$2.38B	$2.42B	$2.42B
Current Liabilities	$197.03M	$216.95M	$213.38M	$234.04M	$247.18M
Total Debt	$16.32M	$16.86M	$17.36M	$17.25M	$16.31M
Total Liabilities	$256.91M	$274.90M	$276.15M	$296.15M	$305.85M
Retained Earnings	$2.62B	$2.62B	$2.63B	$2.64B	$2.65B
Shareholders' Equity	$2.06B	$2.10B	$2.10B	$2.13B	$2.12B
Working Capital	$1.25B	$1.26B	$1.22B	$1.19B	$1.19B

IPGP Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$13.45M	-$2.22M	$35.31M	$28.81M	-$5.46M
Capital Expenditure	-$24.82M	-$15.36M	-$20.73M	-$17.89M	-$16.31M
Free Cash Flow	-$11.37M	-$17.57M	$14.57M	$10.92M	-$21.77M
Depreciation & Amortisation	$15.34M	$15.83M	$15.63M	$20.05M	$15.89M
Stock-Based Compensation	$10.75M	$11.29M	$10.74M	$10.15M	$10.25M
Investing Cash Flow	-$274.39M	$12.87M	-$31.39M	$27.67M	$95.25M
Financing Cash Flow	-$5.67M	-$28.79M	-$16.46M	-$3.27M	-$11.71M
Share Repurchases	—	—	-$16.40M	-$6.53M	—
Net Change in Cash	-$266.61M	-$18.13M	-$12.54M	$53.21M	$78.07M

Market Snapshot

About

IPG Photonics Corp. is a leading developer and manufacturer of high-performance fiber lasers and amplifiers. The company's products are used in materials processing applications including cutting, welding, marking, and engraving across automotive, aerospace, and industrial manufacturing sectors. IPG's fiber laser technology offers advantages over traditional lasers including higher efficiency, reliability, and beam quality. The company also produces laser systems for medical, advanced applications, and telecommunications markets.