IPG Photonics Corporation(IPGP)Earnings, Financials & Key Ratios

IPGP•NASDAQ

$101.94

$4.33B mkt cap·139.6× P/E·Price updated May 6, 2026

SectorTechnology IndustrySemiconductors Sub-IndustryOptical, Photonics and Display Components

AboutIPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories. It also provides erbium-doped fiber and Raman amplifiers, and integrated communications systems, which are deployed in broadband networks; and ytterbium and thulium specialty fiber amplifiers and broadband light sources. In addition, the company offers integrated laser systems; 2D compact flat sheet cutter systems and multi-axis systems; welding seam stepper and picker, a fiber laser welding tool; high precision laser systems; specialized fiber laser systems; and optical transceiver and transponder modules for interconnecting electronic equipment, including Ethernet switches, IP routers and DWDM/SONET/SDH optical transport modules within telecommunications, cable multi-system operators, and data center networking applications. It's lasers and amplifiers are also used in materials processing, communications, and medical and advanced applications. The company markets its products to original equipment manufacturers, system integrators, and end users through direct sales force, as well as through agreements with independent sales representatives and distributors. IPG Photonics Corporation was founded in 1990 and is headquartered in Oxford, Massachusetts.Show more

Revenue$1B+2.7%
EBITDA$80M+154.5%
Net Income$31M+117.1%
EPS (Diluted)0.73+117.8%
Gross Margin38%+9.8%
EBITDA Margin7.97%+153.0%
Operating Margin1.31%+106.1%
Net Margin3.1%+116.7%
ROE1.5%+118.3%
ROIC0.62%+106.7%

Technical→

IPGP Key Insights

IPG Photonics Corporation (IPGP) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Momentum leader: RS Rating 82 (top 18%)
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 3.8% through buybacks

✗Weaknesses

✗Weak 3Y average ROE of 0.8%
✗Profits declining 27.9% over 5 years
✗Negative free cash flow
✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

IPGP Price & Volume

IPG Photonics Corporation (IPGP) stock price & volume — 10-year historical chart

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IPGP Growth Metrics

IPG Photonics Corporation (IPGP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years1.08%

5 Years-3.52%

3 Years-11.12%

TTM9.29%

Profit CAGR

10 Years-18.56%

5 Years-27.9%

3 Years-34.35%

TTM114.33%

EPS CAGR

10 Years-16.69%

5 Years-24.47%

3 Years-30.34%

TTM114.96%

Return on Capital

10 Years11.46%

5 Years4.08%

3 Years0.29%

Last Year0.61%

IPGP Recent Earnings

IPG Photonics Corporation (IPGP) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 8/12 qtrs (67%)●Beat Revenue 7/12 qtrs (58%)

Q2 2026Latest

May 5, 2026

EPS

$0.04

Est $0.32

-87.5%

Revenue

$265M

Est $257M

+3.3%

Q1 2026

Feb 12, 2026

EPS

$0.46

Est $0.25

+84.0%

Revenue

$274M

Est $250M

+10.0%

Q4 2025

Nov 4, 2025

EPS

$0.35

Est $0.16

+118.8%

Revenue

$251M

Est $249M

+0.6%

Q3 2025

Aug 5, 2025

EPS

$0.30

Est $0.10

+200.0%

Revenue

$251M

Est $239M

+4.8%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	May 5, 2026	$0.04vs $0.32-87.5%	$265Mvs $257M+3.3%
Q1 2026	Feb 12, 2026	$0.46vs $0.25+84.0%	$274Mvs $250M+10.0%
Q4 2025	Nov 4, 2025	$0.35vs $0.16+118.8%	$251Mvs $249M+0.6%
Q3 2025	Aug 5, 2025	$0.30vs $0.10+200.0%	$251Mvs $239M+4.8%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
LITELumentum Holdings Inc.Direct Competitor	67.42B	944.28	2552.11	21.03%	17.68%	30.68%	2.30
NPKINPK International Inc.Direct Competitor	1.33B	15.71	37.40	27.38%	12.36%	10.34%	0.10
MKSIMKS Inc.Direct Competitor	19.78B	293.77	67.22	9.62%	7.51%	11.54%	1.73
NOVTNovanta Inc.Direct Competitor	4.95B	138.90	94.49	3.3%	5.49%	4.1%	0.26
VIAVViavi Solutions Inc.Direct Competitor	12.26B	53.00	353.33	8.39%	-4.03%	-6.92%	0.89
AMATApplied Materials, Inc.Product Competitor	339.9B	428.62	49.49	4.39%	24.67%	34.28%	0.32
COHRCoherent, Inc.Product Competitor	54.66B	344.67	-662.83	23.42%	10.59%	6.94%	0.46
GSITGSI Technology, Inc.Product Competitor	303.69M	8.80	-20.95	-5.73%	-43.15%	-22.69%	0.34

Compare IPGP vs Peers

IPG Photonics Corporation (IPGP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs LITE

Most directly comparable listed peer for IPGP.

Scale Benchmark

vs AMAT

Larger-name benchmark to compare IPGP against a more recognizable public peer.

Peer Set

Compare Top 5

vs LITE, NPKI, MKSI, NOVT

IPGP Income Statement

IPG Photonics Corporation (IPGP) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Sales/Revenue	1.41B	1.46B	1.31B	1.2B	1.46B	1.43B	1.29B	977.13M	1B	1.04B
Revenue Growth %	40.02%	3.62%	-9.95%	-8.66%	21.66%	-2.14%	-9.94%	-24.1%	2.73%	9.29%
Cost of Goods Sold	611.98M	659.61M	708.37M	661.73M	764.46M	874.13M	745.74M	638.98M	622.31M	650.33M
COGS % of Revenue	43.44%	45.18%	53.89%	55.11%	52.33%	61.15%	57.92%	65.39%	62%	-
Gross Profit	796.91M▲ 0%	800.27M▲ 0.4%	606.21M▼ 24.2%	539M▼ 11.1%	696.4M▲ 29.2%	555.41M▼ 20.2%	541.7M▼ 2.5%	338.15M▼ 37.6%	381.46M▲ 12.8%	391.15M▲ 0%
Gross Margin %	56.56%	54.82%	46.11%	44.89%	47.67%	38.85%	42.08%	34.61%	38%	37.56%
Gross Profit Growth %	44.31%	0.42%	-24.25%	-11.09%	29.2%	-20.24%	-2.47%	-37.57%	12.81%	-
Operating Expenses	245.8M	276.86M	372.42M	340.34M	328.51M	385.91M	309.73M	546.41M	368.36M	387.61M
OpEx % of Revenue	17.45%	18.96%	28.33%	28.34%	22.49%	27%	24.06%	55.92%	36.7%	-
Selling, General & Admin	130.47M	160.24M	185.34M	180.59M	204.06M	207.9M	211.43M	213.9M	241M	244.39M
SG&A % of Revenue	9.26%	10.98%	14.1%	15.04%	13.97%	14.54%	16.42%	21.89%	24.01%	-
Research & Development	100.87M	122.77M	130M	126.9M	139.57M	116.11M	98.7M	109.78M	117.4M	122.38M
R&D % of Revenue	7.16%	8.41%	9.89%	10.57%	9.55%	8.12%	7.67%	11.24%	11.7%	-
Other Operating Expenses	14.46M	-6.15M	57.08M	32.85M	-15.12M	61.9M	-407K	222.73M	9.96M	4M
Operating Income	551.11M▲ 0%	523.4M▼ 5.0%	233.79M▼ 55.3%	198.66M▼ 15.0%	367.88M▲ 85.2%	169.5M▼ 53.9%	231.97M▲ 36.9%	-208.25M▼ 189.8%	13.1M▲ 106.3%	3.54M▲ 0%
Operating Margin %	39.12%	35.85%	17.78%	16.54%	25.18%	11.86%	18.02%	-21.31%	1.31%	0.34%
Operating Income Growth %	51.27%	-5.03%	-55.33%	-15.03%	85.18%	-53.93%	36.86%	-189.78%	106.29%	-
EBITDA	615.68M	603.68M	330.06M	293.21M	464.21M	260.06M	301.59M	-146.81M	79.96M	55.05M
EBITDA Margin %	43.7%	41.35%	25.11%	24.42%	31.78%	18.19%	23.43%	-15.02%	7.97%	5.29%
EBITDA Growth %	48.08%	-1.95%	-45.32%	-11.16%	58.32%	-43.98%	15.97%	-148.68%	154.46%	133.37%
D&A (Non-Cash Add-back)	64.57M	80.27M	96.27M	94.55M	96.33M	90.56M	69.62M	61.44M	66.85M	51.51M
EBIT	565.57M	517.25M	290.87M	231.51M	352.76M	231.4M	231.57M	14.48M	45.1M	29.41M
Net Interest Income	737K	9.06M	14.24M	6.27M	0	12.62M	0	45.47M	0	7.28M
Interest Income	737K	9.06M	14.24M	6.27M	0	12.62M	0	45.47M	0	7.28M
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	759K	10.99M	14.58M	7.03M	-1.4M	13.85M	42.9M	46.37M	31.99M	31.96M
Pretax Income	551.87M▲ 0%	534.39M▼ 3.2%	248.38M▼ 53.5%	205.69M▼ 17.2%	366.48M▲ 78.2%	183.35M▼ 50.0%	274.88M▲ 49.9%	-161.89M▼ 158.9%	45.1M▲ 127.9%	35.5M▲ 0%
Pretax Margin %	39.17%	36.61%	18.89%	17.13%	25.09%	12.83%	21.35%	-16.57%	4.49%	3.41%
Income Tax	204.28M	130.23M	68.11M	45.35M	88.61M	72.59M	56M	19.64M	14M	6.58M
Effective Tax Rate %	37.02%	24.37%	27.42%	22.05%	24.18%	39.59%	20.37%	-12.13%	31.04%	18.53%
Net Income	347.61M▲ 0%	404.03M▲ 16.2%	180.23M▼ 55.4%	159.57M▼ 11.5%	278.42M▲ 74.5%	109.91M▼ 60.5%	218.88M▲ 99.1%	-181.53M▼ 182.9%	31.1M▲ 117.1%	28.92M▲ 0%
Net Margin %	24.67%	27.68%	13.71%	13.29%	19.06%	7.69%	17%	-18.58%	3.1%	2.78%
Net Income Growth %	33.31%	16.23%	-55.39%	-11.46%	74.48%	-60.52%	99.14%	-182.93%	117.13%	114.33%
Net Income (Continuing)	347.59M	404.17M	180.26M	160.34M	277.87M	110.76M	218.88M	-181.53M	31.1M	28.92M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	686K	717K	1.29M	639K	0	0	0	0	0
EPS (Diluted)	6.36▲ 0%	7.38▲ 16.0%	3.35▼ 54.6%	2.97▼ 11.3%	5.16▲ 73.7%	2.16▼ 58.1%	4.63▲ 114.4%	-4.09▼ 188.3%	0.73▲ 117.8%	0.67▲ 0%
EPS Growth %	31.13%	16.04%	-54.61%	-11.34%	73.74%	-58.14%	114.35%	-188.34%	117.85%	114.96%
EPS (Basic)	6.50	7.55	3.40	3.00	5.21	2.17	4.64	-4.09	0.73	-
Diluted Shares Outstanding	54.7M	54.73M	53.84M	53.78M	53.93M	50.92M	47.32M	44.34M	42.65M	42.91M
Basic Shares Outstanding	53.49M	53.52M	53.06M	53.19M	53.41M	50.76M	47.15M	44.34M	42.6M	42.24M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

IPGP Balance Sheet

IPG Photonics Corporation (IPGP) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Total Current Assets	1.75B	1.81B	1.9B	2.15B	2.35B	1.99B	1.91B	1.43B	1.42B	1.43B
Cash & Short-Term Investments	1.12B	1.04B	1.18B	1.39B	1.51B	1.18B	1.18B	930.19M	839.33M	812.9M
Cash Only	909.9M	544.36M	680.07M	876.23M	709.11M	698.21M	514.67M	620.04M	403.79M	480.76M
Short-Term Investments	206.26M	500.43M	502.55M	514.84M	805.4M	479.37M	662.81M	310.15M	435.54M	332.14M
Accounts Receivable	237.28M	255.51M	238.48M	264.32M	262.12M	211.35M	219.05M	171.13M	181.73M	192.44M
Days Sales Outstanding	61.47	63.88	66.21	80.35	65.49	53.96	62.1	63.92	66.08	65.22
Inventory	307.71M	403.58M	380.79M	364.99M	460.75M	509.36M	453.87M	284.78M	313.42M	319.01M
Days Inventory Outstanding	183.53	223.32	196.21	201.33	219.99	212.69	222.15	162.67	183.82	176.82
Other Current Assets	47.92M	57.76M	55.88M	57.8M	73.32M	47.05M	38.21M	27.3M	45.77M	108.79M
Total Non-Current Assets	617.97M	769.03M	833.8M	787.62M	822.86M	757.01M	784.24M	858.27M	1B	988.5M
Property, Plant & Equipment	460.21M	543.07M	600.85M	597.53M	635.3M	580.56M	602.26M	588.38M	637.52M	636.24M
Fixed Asset Turnover	3.06x	2.69x	2.19x	2.01x	2.30x	2.46x	2.14x	1.66x	1.57x	1.65x
Goodwill	55.83M	100.72M	82.09M	41.37M	38.61M	38.33M	38.54M	67.24M	71.73M	70.91M
Intangible Assets	51.22M	87.14M	74.27M	62.11M	52.68M	34.12M	26.23M	55.38M	49.93M	47.17M
Long-Term Investments	16K	4.7M	0	0	0	0	0	0	76.53M	177.27M
Other Non-Current Assets	18.99M	14.23M	45.19M	43.42M	48.51M	28.85M	28.43M	32.25M	41.23M	177.9M
Total Assets	2.37B▲ 0%	2.57B▲ 8.5%	2.73B▲ 6.1%	2.94B▲ 7.5%	3.17B▲ 8.0%	2.74B▼ 13.5%	2.7B▼ 1.6%	2.29B▼ 15.2%	2.42B▲ 5.9%	2.42B▲ 0%
Asset Turnover	0.59x	0.57x	0.48x	0.41x	0.46x	0.52x	0.48x	0.43x	0.41x	0.43x
Asset Growth %	32.51%	8.54%	6.06%	7.52%	8%	-13.48%	-1.62%	-15.18%	5.9%	6.85%
Total Current Liabilities	198.9M	245.78M	191.9M	214.58M	313.43M	274.65M	214.86M	205.02M	234.04M	247.18M
Accounts Payable	35.11M	36.3M	27.33M	25.75M	55.84M	46.23M	28.62M	35.38M	39.29M	54.72M
Days Payables Outstanding	20.94	20.09	14.08	14.2	26.66	19.3	14.01	20.21	23.04	24.66
Short-Term Debt	3.6M	3.67M	3.74M	3.81M	18.13M	16.03M	0	0	0	0
Deferred Revenue (Current)	47.32M	56.52M	59.53M	71.25M	89.66M	80.07M	69.22M	56.45M	0	115.51M
Other Current Liabilities	81.21M	84.71M	48.88M	62.78M	109.51M	88.96M	80.25M	69.36M	184.85M	192.45M
Current Ratio	8.82x	7.35x	9.88x	10.01x	7.49x	7.23x	8.91x	6.98x	6.08x	6.08x
Quick Ratio	7.27x	5.70x	7.90x	8.31x	6.02x	5.38x	6.80x	5.59x	4.74x	4.74x
Cash Conversion Cycle	224.06	267.12	248.34	267.47	258.82	247.35	270.24	206.38	226.87	217.38
Total Non-Current Liabilities	150.75M	122.44M	136.09M	127.01M	109.89M	83.27M	68.65M	59.77M	62.11M	58.67M
Long-Term Debt	45.38M	41.71M	37.97M	34.16M	16.03M	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	18.52M	16.79M	13.66M	13.12M	0	24.55M
Deferred Tax Liabilities	105.37M	80.73M	98.12M	92.85M	1.63M	1.47M	1.51M	14.21M	62.11M	142.88M
Other Non-Current Liabilities	100.65M	0	0	0	73.7M	65.02M	53.48M	32.44M	0	74.07M
Total Liabilities	349.65M	368.22M	327.99M	341.59M	423.32M	357.92M	283.51M	264.79M	296.15M	305.85M
Total Debt	48.98M	45.38M	47.01M	43.74M	58.13M	38.05M	18.26M	17.96M	0	0
Net Debt	-860.92M	-498.98M	-633.06M	-832.49M	-650.97M	-660.16M	-496.41M	-602.08M	-403.79M	-480.76M
Debt / Equity	0.02x	0.02x	0.02x	0.02x	0.02x	0.02x	0.01x	0.01x	-	0.00x
Debt / EBITDA	0.08x	0.08x	0.14x	0.15x	0.13x	0.15x	0.06x	-	-	0.00x
Net Debt / EBITDA	-1.40x	-0.83x	-1.92x	-2.84x	-1.40x	-2.54x	-1.65x	-	-5.05x	-5.05x
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity	2.02B▲ 0%	2.21B▲ 9.1%	2.4B▲ 8.9%	2.59B▲ 8.0%	2.75B▲ 5.9%	2.39B▼ 13.2%	2.42B▲ 1.3%	2.02B▼ 16.2%	2.13B▲ 5.1%	2.12B▲ 0%
Equity Growth %	29.83%	9.09%	8.89%	7.98%	5.9%	-13.17%	1.26%	-16.18%	5.12%	0.74%
Book Value per Share	36.97	40.31	44.62	48.23	50.94	46.84	51.04	45.66	49.90	49.31
Total Shareholders' Equity	2.02B	2.21B	2.4B	2.59B	2.75B	2.39B	2.42B	2.02B	2.13B	2.12B
Common Stock	5K	5K	5K	6K	6K	6K	6K	6K	6K	6K
Retained Earnings	1.44B	1.85B	2.03B	2.19B	2.47B	2.58B	2.8B	2.61B	2.64B	2.65B
Treasury Stock	-48.93M	-225M	-265.73M	-303.61M	-438.5M	-938.01M	-1.16B	-1.51B	-1.56B	0
Accumulated OCI	-77.34M	-162.9M	-146.92M	-146.06M	-189.95M	-204.52M	-212.53M	-119.37M	-38.38M	-50.84M
Minority Interest	0	686K	717K	1.29M	639K	0	0	0	0	0

IPGP Cash Flow Statement

IPG Photonics Corporation (IPGP) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	404.45M	393.3M	323.52M	285.33M	389.7M	212.65M	295.99M	247.9M	75.34M	75.34M
Operating CF Margin %	28.71%	26.94%	24.61%	23.76%	26.68%	14.88%	22.99%	25.37%	7.51%	-
Operating CF Growth %	38.37%	-2.76%	-17.74%	-11.8%	36.58%	-45.43%	39.19%	-16.25%	-69.61%	-311.65%
Net Income	347.59M	404.17M	180.26M	160.34M	277.87M	110.76M	218.88M	-181.53M	31.1M	28.92M
Depreciation & Amortization	64.57M	80.27M	96.27M	94.55M	96.33M	90.56M	69.62M	61.44M	66.85M	51.51M
Stock-Based Compensation	23.02M	28.03M	33.36M	35.47M	37.86M	38.3M	39.5M	37.07M	0	-10.75M
Deferred Taxes	22.88M	-4.58M	-15.49M	-12.81M	-6.88M	-27.57M	-13.79M	-25.66M	-13.68M	-12.92M
Other Non-Cash Items	53.91M	32.61M	120.55M	104.54M	68.5M	202.82M	36.33M	295.05M	76.39M	32.45M
Working Capital Changes	-107.52M	-147.2M	-91.43M	-96.75M	-83.97M	-202.22M	-54.56M	61.52M	-85.32M	-25.73M
Change in Receivables	-60.92M	-20.24M	-481K	-13.02M	-2.09M	34.1M	-10.39M	46.83M	-4.76M	6.77M
Change in Inventory	-71.08M	-135.44M	-28.11M	-39.9M	-149.75M	-189.01M	1.82M	47.73M	-52.92M	-43.95M
Change in Payables	2.31M	-1.43M	-10.26M	-1.94M	31M	-12.17M	-16.32M	-1.53M	4.33M	-1.16M
Cash from Investing	-169.86M	-563M	-139.97M	-99.57M	-416.28M	296.95M	-237.55M	208.73M	-265.23M	9.16M
Capital Expenditures	-126.53M	-160.34M	-133.54M	-87.7M	-123.11M	-110.14M	-110.48M	-98.52M	-78.8M	-53.98M
CapEx % of Revenue	8.98%	10.98%	10.16%	7.3%	8.43%	7.7%	8.58%	10.08%	7.85%	-
Acquisitions	-59.54M	-109.11M	-15.12M	-429K	1.41M	50.94M	0	-92.06M	505K	1.63M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	15.53M	1.44M	898K	882K	-1.51M	26.82M	31.8M	29M	965K	-399K
Cash from Financing	-3.37M	-166.65M	-37.07M	-10.08M	-125.07M	-514.55M	-236.38M	-339.62M	-54.19M	-48.52M
Debt Issued (Net)	8.16M	-3.6M	-3.67M	-3.74M	-3.81M	-18.13M	-16.03M	0	0	0
Equity Issued (Net)	-39.99M	-176.06M	-40.73M	-37.88M	-134.89M	-499.51M	-223.5M	-343.82M	-54.19M	-3.38M
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-39.99M	-176.06M	-40.73M	-37.88M	-134.89M	-499.51M	-223.5M	-343.82M	-54.19M	-3.27M
Other Financing	28.46M	13.02M	7.34M	31.54M	13.63M	3.08M	3.15M	4.2M	0	-45.14M
Net Change in Cash	286.05M▲ 0%	-365.54M▼ 227.8%	138.63M▲ 137.9%	195.57M▲ 41.1%	-169.45M▼ 186.6%	-10.9M▲ 93.6%	-183.53M▼ 1584.4%	105.37M▲ 157.4%	-216.25M▼ 305.2%	117.72M▲ 0%
Free Cash Flow	277.91M▲ 0%	232.96M▼ 16.2%	189.99M▼ 18.4%	197.64M▲ 4.0%	266.59M▲ 34.9%	102.51M▼ 61.5%	185.5M▲ 81.0%	149.37M▼ 19.5%	-3.45M▼ 102.3%	7.92M▲ 0%
FCF Margin %	19.73%	15.96%	14.45%	16.46%	18.25%	7.17%	14.41%	15.29%	-0.34%	0.76%
FCF Growth %	68.18%	-16.18%	-18.45%	4.03%	34.89%	-61.55%	80.96%	-19.48%	-102.31%	-92.89%
FCF per Share	5.08	4.26	3.53	3.67	4.94	2.01	3.92	3.37	-0.08	-0.08
FCF Conversion (FCF/Net Income)	1.16x	0.97x	1.80x	1.79x	1.40x	1.93x	1.35x	-1.37x	2.42x	0.27x
Interest Paid	2.58M	3.05M	2.68M	2.23M	2.71M	3.21M	1.28M	277K	0	221K
Taxes Paid	155.56M	112.76M	116.95M	85.86M	63M	113.2M	62.92M	40.63M	0	33.68M

IPGP Key Ratios

IPG Photonics Corporation (IPGP) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM
Return on Equity (ROE)	19.42%	19.11%	7.82%	6.39%	10.42%	4.28%	9.12%	-8.18%	1.5%	1.37%
Return on Invested Capital (ROIC)	38.7%	27.37%	10.09%	8.44%	14.3%	6.65%	9.55%	-9.35%	0.62%	0.62%
Gross Margin	56.56%	54.82%	46.11%	44.89%	47.67%	38.85%	42.08%	34.61%	38%	37.56%
Net Margin	24.67%	27.68%	13.71%	13.29%	19.06%	7.69%	17%	-18.58%	3.1%	2.78%
Debt / Equity	0.02x	0.02x	0.02x	0.02x	0.02x	0.02x	0.01x	0.01x	-	0.00x
FCF Conversion	1.16x	0.97x	1.80x	1.79x	1.40x	1.93x	1.35x	-1.37x	2.42x	0.27x
Revenue Growth	40.02%	3.62%	-9.95%	-8.66%	21.66%	-2.14%	-9.94%	-24.1%	2.73%	9.29%

IPGP SEC Filings & Documents

IPG Photonics Corporation (IPGP) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

May 5, 2026·SEC

Material company update

Mar 16, 2026·SEC

Material company update

Feb 25, 2026·SEC

10-K Annual Reports

FY 2026

Feb 23, 2026·SEC

FY 2025

Feb 20, 2025·SEC

FY 2024

Feb 21, 2024·SEC

10-Q Quarterly Reports

FY 2026

May 5, 2026·SEC

FY 2025

Nov 4, 2025·SEC

FY 2025

Aug 5, 2025·SEC

IPGP Frequently Asked Questions

IPG Photonics Corporation (IPGP) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

IPG Photonics Corporation (IPGP) reported $1.04B in revenue for fiscal year 2025. This represents a 1616% increase from $60.7M in 2004.

IPG Photonics Corporation (IPGP) grew revenue by 2.7% over the past year. Growth has been modest.

Yes, IPG Photonics Corporation (IPGP) is profitable, generating $28.9M in net income for fiscal year 2025 (3.1% net margin).

Dividend & Returns

IPG Photonics Corporation (IPGP) has a return on equity (ROE) of 1.5%. This is below average, suggesting room for improvement.

IPG Photonics Corporation (IPGP) generated $7.9M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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