IPG Photonics Corporation (IPGP) 10-Year Financial Performance & Capital Metrics

IPGP • • Industrial / General

TechnologySemiconductorsOptoelectronics & PhotonicsLasers & LiDAR Systems

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 $977M -24.1%
EBITDA -$147M -148.7%
Net Income -$182M -182.9%
EPS (Diluted) -4.09 -188.3%
Gross Margin 34.61% -17.8%
EBITDA Margin -15.02% -164.1%
Operating Margin -21.31% -218.3%
Net Margin -18.58% -209.3%
ROE -8.18% -189.7%
ROIC -9.35% -197.9%
Debt/Equity 0.01 +17.3%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 15.3% free cash flow margin
✓Share count reduced 6.3% through buybacks

✗Weaknesses

✗Weak 3Y average ROE of 1.7%
✗Weak Piotroski F-Score: 3/9
✗Sales declining 5.8% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.41%

5Y-5.76%

3Y-12.55%

TTM-7.49%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM117.34%

EPS CAGR

10Y-

5Y-

3Y-

TTM117.51%

ROCE

10Y Avg14.25%

5Y Avg5.47%

3Y Avg2.21%

Latest-9.12%

Peer Comparison

Lasers & LiDAR Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AEVAWAeva Technologies, Inc.	2.87M	0.17	-0.06	110.23%	-10.31%	-470.41%		0.04
AAOIApplied Optoelectronics, Inc.	2.33B	34.18	-7.60	14.57%	-36.97%	-27.88%		0.83
POETPOET Technologies Inc.	940.84M	7.14	-7.60	-91.11%	-66.28%	-76.09%		0.35
IPGPIPG Photonics Corporation	3.23B	76.77	-18.77	-24.1%	2.66%	1.22%	4.62%	0.01
LASRnLIGHT, Inc.	2.17B	42.72	-33.64	-5.42%	-19.13%	-19.92%		0.06

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	901.26M	1.01B	1.41B	1.46B	1.31B	1.2B	1.46B	1.43B	1.29B	977.13M
Revenue Growth %	0.17%	0.12%	0.4%	0.04%	-0.1%	-0.09%	0.22%	-0.02%	-0.1%	-0.24%
Cost of Goods Sold+	409.39M	453.93M	611.98M	659.61M	708.37M	661.73M	764.46M	874.13M	745.74M	638.98M
COGS % of Revenue	0.45%	0.45%	0.43%	0.45%	0.54%	0.55%	0.52%	0.61%	0.58%	0.65%
Gross Profit+	491.88M	552.24M	796.91M	800.27M	606.21M	539M	696.4M	555.41M	541.7M	338.15M
Gross Margin %	0.55%	0.55%	0.57%	0.55%	0.46%	0.45%	0.48%	0.39%	0.42%	0.35%
Gross Profit Growth %	0.18%	0.12%	0.44%	0%	-0.24%	-0.11%	0.29%	-0.2%	-0.02%	-0.38%
Operating Expenses+	149.83M	187.93M	245.8M	276.86M	372.42M	340.34M	328.51M	385.91M	309.73M	546.41M
OpEx % of Revenue	0.17%	0.19%	0.17%	0.19%	0.28%	0.28%	0.22%	0.27%	0.24%	0.56%
Selling, General & Admin	89.06M	104.88M	130.47M	160.24M	185.34M	180.59M	204.06M	207.9M	211.43M	213.9M
SG&A % of Revenue	0.1%	0.1%	0.09%	0.11%	0.14%	0.15%	0.14%	0.15%	0.16%	0.22%
Research & Development	63.33M	78.55M	100.87M	122.77M	130M	126.9M	139.57M	116.11M	98.7M	109.78M
R&D % of Revenue	0.07%	0.08%	0.07%	0.08%	0.1%	0.11%	0.1%	0.08%	0.08%	0.11%
Other Operating Expenses	-2.56M	4.5M	14.46M	-6.15M	57.08M	32.85M	-15.12M	61.9M	-407K	222.73M
Operating Income+	342.04M	364.31M	551.11M	523.4M	233.79M	198.66M	367.88M	169.5M	231.97M	-208.25M
Operating Margin %	0.38%	0.36%	0.39%	0.36%	0.18%	0.17%	0.25%	0.12%	0.18%	-0.21%
Operating Income Growth %	0.21%	0.07%	0.51%	-0.05%	-0.55%	-0.15%	0.85%	-0.54%	0.37%	-1.9%
EBITDA+	384.46M	415.79M	615.68M	603.68M	330.06M	293.21M	464.21M	260.06M	301.59M	-146.81M
EBITDA Margin %	0.43%	0.41%	0.44%	0.41%	0.25%	0.24%	0.32%	0.18%	0.23%	-0.15%
EBITDA Growth %	0.2%	0.08%	0.48%	-0.02%	-0.45%	-0.11%	0.58%	-0.44%	0.16%	-1.49%
D&A (Non-Cash Add-back)	42.41M	51.48M	64.57M	80.27M	96.27M	94.55M	96.33M	90.56M	69.62M	61.44M
EBIT	339.48M	368.81M	565.57M	517.25M	290.87M	231.51M	352.76M	231.4M	231.57M	14.48M
Net Interest Income+	301K	1.3M	737K	9.06M	14.24M	6.27M	0	12.62M	0	45.47M
Interest Income	301K	0	737K	9.06M	14.24M	6.27M	0	12.62M	0	45.47M
Interest Expense	0	1.3M	0	0	0	0	0	0	0	0
Other Income/Expense	-426K	2.25M	759K	10.99M	14.58M	7.03M	-1.4M	13.85M	42.9M	46.37M
Pretax Income+	341.62M	366.56M	551.87M	534.39M	248.38M	205.69M	366.48M	183.35M	274.88M	-161.89M
Pretax Margin %	0.38%	0.36%	0.39%	0.37%	0.19%	0.17%	0.25%	0.13%	0.21%	-0.17%
Income Tax+	99.59M	105.85M	204.28M	130.23M	68.11M	45.35M	88.61M	72.59M	56M	19.64M
Effective Tax Rate %	0.71%	0.71%	0.63%	0.76%	0.73%	0.78%	0.76%	0.6%	0.8%	1.12%
Net Income+	242.15M	260.75M	347.61M	404.03M	180.23M	159.57M	278.42M	109.91M	218.88M	-181.53M
Net Margin %	0.27%	0.26%	0.25%	0.28%	0.14%	0.13%	0.19%	0.08%	0.17%	-0.19%
Net Income Growth %	0.21%	0.08%	0.33%	0.16%	-0.55%	-0.11%	0.74%	-0.61%	0.99%	-1.83%
Net Income (Continuing)	242.03M	260.72M	347.59M	404.17M	180.26M	160.34M	277.87M	110.76M	218.88M	-181.53M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	1.14M	166K	0	686K	717K	1.29M	639K	0	0	0
EPS (Diluted)+	4.53	4.85	6.36	7.38	3.35	2.97	5.16	2.16	4.63	-4.09
EPS Growth %	0.2%	0.07%	0.31%	0.16%	-0.55%	-0.11%	0.74%	-0.58%	1.14%	-1.88%
EPS (Basic)	4.59	4.91	6.50	7.55	3.40	3.00	5.21	2.17	4.64	-4.09
Diluted Shares Outstanding	53.43M	53.8M	54.7M	54.73M	53.84M	53.78M	53.93M	50.92M	47.32M	44.34M
Basic Shares Outstanding	52.68M	53.07M	53.49M	53.52M	53.06M	53.19M	53.41M	50.76M	47.15M	44.34M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.12B	1.3B	1.75B	1.81B	1.9B	2.15B	2.35B	1.99B	1.91B	1.43B
Cash & Short-Term Investments	689.12M	830.63M	1.12B	1.04B	1.18B	1.39B	1.51B	1.18B	1.18B	930.19M
Cash Only	582.53M	623.86M	909.9M	544.36M	680.07M	876.23M	709.11M	698.21M	514.67M	620.04M
Short-Term Investments	106.58M	206.78M	206.26M	500.43M	502.55M	514.84M	805.4M	479.37M	662.81M	310.15M
Accounts Receivable	150.48M	155.9M	237.28M	255.51M	238.48M	264.32M	262.12M	211.35M	219.05M	171.13M
Days Sales Outstanding	60.94	56.55	61.47	63.88	66.21	80.35	65.49	53.96	62.1	63.92
Inventory	203.74M	239.01M	307.71M	403.58M	380.79M	364.99M	460.75M	509.36M	453.87M	284.78M
Days Inventory Outstanding	181.65	192.18	183.53	223.32	196.21	201.33	219.99	212.69	222.15	162.67
Other Current Assets	45.91M	41.29M	47.92M	57.76M	55.88M	57.8M	73.32M	47.05M	38.21M	27.3M
Total Non-Current Assets+	330.49M	489.04M	617.97M	769.03M	833.8M	787.62M	822.86M	757.01M	784.24M	858.27M
Property, Plant & Equipment	288.6M	379.38M	460.21M	543.07M	600.85M	597.53M	635.3M	580.56M	602.26M	588.38M
Fixed Asset Turnover	3.12x	2.65x	3.06x	2.69x	2.19x	2.01x	2.30x	2.46x	2.14x	1.66x
Goodwill	505K	19.83M	55.83M	100.72M	82.09M	41.37M	38.61M	38.33M	38.54M	67.24M
Intangible Assets	11.9M	28.79M	51.22M	87.14M	74.27M	62.11M	52.68M	34.12M	26.23M	55.38M
Long-Term Investments	0	77K	16K	4.7M	0	0	0	0	0	0
Other Non-Current Assets	20.09M	18.53M	18.99M	14.23M	45.19M	43.42M	48.51M	28.85M	28.43M	32.25M
Total Assets+	1.45B	1.79B	2.37B	2.57B	2.73B	2.94B	3.17B	2.74B	2.7B	2.29B
Asset Turnover	0.62x	0.56x	0.59x	0.57x	0.48x	0.41x	0.46x	0.52x	0.48x	0.43x
Asset Growth %	0.2%	0.23%	0.33%	0.09%	0.06%	0.08%	0.08%	-0.13%	-0.02%	-0.15%
Total Current Liabilities+	144.98M	158.28M	198.9M	245.78M	191.9M	214.58M	313.43M	274.65M	214.86M	205.02M
Accounts Payable	26.31M	28.05M	35.11M	36.3M	27.33M	25.75M	55.84M	46.23M	28.62M	35.38M
Days Payables Outstanding	23.46	22.55	20.94	20.09	14.08	14.2	26.66	19.3	14.01	20.21
Short-Term Debt	2M	3.19M	3.6M	3.67M	3.74M	3.81M	18.13M	16.03M	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	42.05M	58.72M	81.21M	84.71M	48.88M	62.78M	109.51M	88.96M	80.25M	69.36M
Current Ratio	7.75x	8.22x	8.82x	7.35x	9.88x	10.01x	7.49x	7.23x	8.91x	6.98x
Quick Ratio	6.34x	6.71x	7.27x	5.70x	7.90x	8.31x	6.02x	5.38x	6.80x	5.59x
Cash Conversion Cycle	219.13	226.19	224.06	267.12	248.34	267.47	258.82	247.35	270.24	206.38
Total Non-Current Liabilities+	47.78M	74M	150.75M	122.44M	136.09M	127.01M	109.89M	83.27M	68.65M	59.77M
Long-Term Debt	17.67M	37.63M	45.38M	41.71M	37.97M	34.16M	16.03M	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	18.52M	16.79M	13.66M	13.12M
Deferred Tax Liabilities	30.12M	36.37M	105.37M	80.73M	98.12M	92.85M	1.63M	1.47M	1.51M	14.21M
Other Non-Current Liabilities	0	0	100.65M	0	0	0	73.7M	65.02M	53.48M	32.44M
Total Liabilities	192.76M	232.28M	349.65M	368.22M	327.99M	341.59M	423.32M	357.92M	283.51M	264.79M
Total Debt+	19.67M	40.82M	48.98M	45.38M	47.01M	43.74M	58.13M	38.05M	18.26M	17.96M
Net Debt	-562.87M	-583.03M	-860.92M	-498.98M	-633.06M	-832.49M	-650.97M	-660.16M	-496.41M	-602.08M
Debt / Equity	0.02x	0.03x	0.02x	0.02x	0.02x	0.02x	0.02x	0.02x	0.01x	0.01x
Debt / EBITDA	0.05x	0.10x	0.08x	0.08x	0.14x	0.15x	0.13x	0.15x	0.06x	-
Net Debt / EBITDA	-1.46x	-1.40x	-1.40x	-0.83x	-1.92x	-2.84x	-1.40x	-2.54x	-1.65x	-
Interest Coverage	-	279.38x	-	-	-	-	-	-	-	-
Total Equity+	1.26B	1.56B	2.02B	2.21B	2.4B	2.59B	2.75B	2.39B	2.42B	2.02B
Equity Growth %	0.2%	0.24%	0.3%	0.09%	0.09%	0.08%	0.06%	-0.13%	0.01%	-0.16%
Book Value per Share	23.60	28.96	36.97	40.31	44.62	48.23	50.94	46.84	51.04	45.66
Total Shareholders' Equity	1.26B	1.56B	2.02B	2.21B	2.4B	2.59B	2.75B	2.39B	2.42B	2.02B
Common Stock	5K	5K	5K	5K	5K	6K	6K	6K	6K	6K
Retained Earnings	833.36M	1.09B	1.44B	1.85B	2.03B	2.19B	2.47B	2.58B	2.8B	2.61B
Treasury Stock	0	-8.95M	-48.93M	-225M	-265.73M	-303.61M	-438.5M	-938.01M	-1.16B	-1.51B
Accumulated OCI	-181.48M	-178.58M	-77.34M	-162.9M	-146.92M	-146.06M	-189.95M	-204.52M	-212.53M	-119.37M
Minority Interest	1.14M	166K	0	686K	717K	1.29M	639K	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	256.57M	292.29M	404.45M	393.3M	323.52M	285.33M	389.7M	212.65M	295.99M	247.9M
Operating CF Margin %	0.28%	0.29%	0.29%	0.27%	0.25%	0.24%	0.27%	0.15%	0.23%	0.25%
Operating CF Growth %	0.39%	0.14%	0.38%	-0.03%	-0.18%	-0.12%	0.37%	-0.45%	0.39%	-0.16%
Net Income	242.03M	260.72M	347.59M	404.17M	180.26M	160.34M	277.87M	110.76M	218.88M	-181.53M
Depreciation & Amortization	42.41M	51.48M	64.57M	80.27M	96.27M	94.55M	96.33M	90.56M	69.62M	61.44M
Stock-Based Compensation	18.99M	21.73M	23.02M	28.03M	33.36M	35.47M	37.86M	38.3M	39.5M	37.07M
Deferred Taxes	-7.15M	-12.91M	22.88M	-4.58M	-15.49M	-12.81M	-6.88M	-27.57M	-13.79M	-25.66M
Other Non-Cash Items	35M	51.49M	53.91M	32.61M	120.55M	104.54M	68.5M	202.82M	36.33M	295.05M
Working Capital Changes	-74.71M	-80.22M	-107.52M	-147.2M	-91.43M	-96.75M	-83.97M	-202.22M	-54.56M	61.52M
Change in Receivables	-9.23M	-11.85M	-60.92M	-20.24M	-481K	-13.02M	-2.09M	34.1M	-10.39M	46.83M
Change in Inventory	-70.56M	-53.63M	-71.08M	-135.44M	-28.11M	-39.9M	-149.75M	-189.01M	1.82M	47.73M
Change in Payables	9.81M	-407K	2.31M	-1.43M	-10.26M	-1.94M	31M	-12.17M	-16.32M	-1.53M
Cash from Investing+	-181.57M	-274.41M	-169.86M	-563M	-139.97M	-99.57M	-416.28M	296.95M	-237.55M	208.73M
Capital Expenditures	-70.12M	-127.04M	-126.53M	-160.34M	-133.54M	-87.7M	-123.11M	-110.14M	-110.48M	-98.52M
CapEx % of Revenue	0.08%	0.13%	0.09%	0.11%	0.1%	0.07%	0.08%	0.08%	0.09%	0.1%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	93K	1.13M	15.53M	1.44M	898K	882K	-1.51M	26.82M	31.8M	29M
Cash from Financing+	2.5M	32.85M	-3.37M	-166.65M	-37.07M	-10.08M	-125.07M	-514.55M	-236.38M	-339.62M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	21.04M	20.64M	28.46M	13.02M	7.34M	31.54M	13.63M	3.08M	3.15M	4.2M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	186.45M	165.25M	277.91M	232.96M	189.99M	197.64M	266.59M	102.51M	185.5M	149.37M
FCF Margin %	0.21%	0.16%	0.2%	0.16%	0.14%	0.16%	0.18%	0.07%	0.14%	0.15%
FCF Growth %	0.99%	-0.11%	0.68%	-0.16%	-0.18%	0.04%	0.35%	-0.62%	0.81%	-0.19%
FCF per Share	3.49	3.07	5.08	4.26	3.53	3.67	4.94	2.01	3.92	3.37
FCF Conversion (FCF/Net Income)	1.06x	1.12x	1.16x	0.97x	1.80x	1.79x	1.40x	1.93x	1.35x	-1.37x
Interest Paid	873K	942K	2.58M	3.05M	2.68M	2.23M	2.71M	3.21M	1.28M	277K
Taxes Paid	91.33M	126.96M	155.56M	112.76M	116.95M	85.86M	63M	113.2M	62.92M	40.63M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	20.99%	18.5%	19.42%	19.11%	7.82%	6.39%	10.42%	4.28%	9.12%	-8.18%
Return on Invested Capital (ROIC)	40.79%	32.67%	38.7%	27.37%	10.09%	8.44%	14.3%	6.65%	9.55%	-9.35%
Gross Margin	54.58%	54.89%	56.56%	54.82%	46.11%	44.89%	47.67%	38.85%	42.08%	34.61%
Net Margin	26.87%	25.92%	24.67%	27.68%	13.71%	13.29%	19.06%	7.69%	17%	-18.58%
Debt / Equity	0.02x	0.03x	0.02x	0.02x	0.02x	0.02x	0.02x	0.02x	0.01x	0.01x
Interest Coverage	-	279.38x	-	-	-	-	-	-	-	-
FCF Conversion	1.06x	1.12x	1.16x	0.97x	1.80x	1.79x	1.40x	1.93x	1.35x	-1.37x
Revenue Growth	17.07%	11.64%	40.02%	3.62%	-9.95%	-8.66%	21.66%	-2.14%	-9.94%	-24.1%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
High Power Continuous Wave CW Lasers	-	-	-	909.73M	734.75M	646.06M	687.41M	613.73M	524.98M	332.74M
High Power Continuous Wave CW Lasers Growth	-	-	-	-	-19.23%	-12.07%	6.40%	-10.72%	-14.46%	-36.62%
Amplifiers, Laser Systems, Service, Parts, Accessories And Change In Deferred Revenue	-	-	-	166.31M	187.45M	201.36M	264.67M	284.37M	295.38M	246.79M
Amplifiers, Laser Systems, Service, Parts, Accessories And Change In Deferred Revenue Growth	-	-	-	-	12.71%	7.42%	31.44%	7.45%	3.87%	-16.45%
Pulsed Lasers	-	-	-	66.7M	137.68M	158.45M	240.98M	250.68M	185.58M	146.76M
Pulsed Lasers Growth	-	-	-	-	106.41%	15.09%	52.09%	4.02%	-25.97%	-20.92%
Laser And Non-Laser Systems	-	-	-	-	141.65M	93.73M	126.64M	153.47M	161.18M	139.15M
Laser And Non-Laser Systems Growth	-	-	-	-	-	-33.83%	35.12%	21.18%	5.02%	-13.67%
Medium And Low Power CW Lasers	-	-	-	-	56.63M	50.8M	80.5M	77.08M	71.67M	63.69M
Medium And Low Power CW Lasers Growth	-	-	-	-	-	-10.29%	58.48%	-4.25%	-7.01%	-11.14%
Quasi-Continuous Wave QCW Lasers	-	-	-	59.33M	56.44M	50.33M	60.67M	50.21M	48.65M	48.02M
Quasi-Continuous Wave QCW Lasers Growth	-	-	-	-	-4.87%	-10.82%	20.53%	-17.23%	-3.11%	-1.30%
Low Power CW Lasers	-	-	-	162.05M	-	-	-	-	-	-
Low Power CW Lasers Growth	-	-	-	-	-	-	-	-	-	-
Medium Power CW Lasers	-	-	-	95.76M	-	-	-	-	-	-
Medium Power CW Lasers Growth	-	-	-	-	-	-	-	-	-	-
Materials Processing	849.34M	942.12M	1.33B	-	-	-	-	-	-	-
Materials Processing Growth	-	10.92%	41.45%	-	-	-	-	-	-	-
Other Applications	51.93M	64.05M	76.28M	-	-	-	-	-	-	-
Other Applications Growth	-	23.34%	19.09%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
North America	-	-	-	202.74M	280.89M	246.19M	314.98M	338.71M	313.99M	258.89M
North America Growth	-	-	-	-	38.54%	-12.35%	27.94%	7.53%	-7.30%	-17.55%
CHINA	311.95M	358.48M	621.28M	629.08M	491.89M	502.28M	548.35M	479.93M	355.32M	245M
CHINA Growth	-	14.92%	73.31%	1.25%	-21.81%	2.11%	9.17%	-12.48%	-25.96%	-31.05%
Other European Geographical Areas	-	-	-	296.92M	249.87M	219.54M	289.14M	294.48M	291.34M	197.15M
Other European Geographical Areas Growth	-	-	-	-	-15.84%	-12.14%	31.70%	1.85%	-1.07%	-32.33%
Other Asian Geographical Areas	-	-	-	127.25M	121.59M	103.78M	139.15M	152.37M	142.38M	113.23M
Other Asian Geographical Areas Growth	-	-	-	-	-4.45%	-14.64%	34.07%	9.50%	-6.56%	-20.47%
GERMANY	93.8M	90.89M	114.61M	111.26M	81.36M	65.65M	101.74M	85.49M	88.03M	87.8M
GERMANY Growth	-	-3.10%	26.09%	-2.92%	-26.87%	-19.32%	54.98%	-15.97%	2.97%	-0.26%
JAPAN	76.03M	88.59M	80.61M	87.62M	71.76M	53.18M	54.08M	57.87M	72.33M	62.35M
JAPAN Growth	-	16.52%	-9.01%	8.69%	-18.10%	-25.89%	1.69%	7.00%	25.00%	-13.80%
Rest Of World	3.34M	2.14M	5.45M	5.01M	17.23M	10.11M	13.43M	20.7M	24.06M	12.71M
Rest Of World Growth	-	-35.97%	154.44%	-8.06%	244.11%	-41.33%	32.88%	54.13%	16.24%	-47.15%
Europe	189.12M	224.84M	290.07M	-	-	-	-	-	-	-
Europe Growth	-	18.88%	29.01%	-	-	-	-	-	-	-
United States And Other North America	131.53M	141.18M	165.36M	-	-	-	-	-	-	-
United States And Other North America Growth	-	7.34%	17.13%	-	-	-	-	-	-	-
Asia And Australia	95.49M	100.05M	131.51M	-	-	-	-	-	-	-
Asia And Australia Growth	-	4.77%	31.44%	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

IPG Photonics Corporation (IPGP) reported $963.6M in revenue for fiscal year 2024. This represents a 103% increase from $474.5M in 2011.

IPG Photonics Corporation (IPGP) saw revenue decline by 24.1% over the past year.

Yes, IPG Photonics Corporation (IPGP) is profitable, generating $25.6M in net income for fiscal year 2024 (-18.6% net margin).

Dividend & Returns

IPG Photonics Corporation (IPGP) has a return on equity (ROE) of -8.2%. Negative ROE indicates the company is unprofitable.

IPG Photonics Corporation (IPGP) generated $36.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...

IPG Photonics Corporation (IPGP) 10-Year Financial Performance & Capital Metrics

IPGP • • Industrial / General

TechnologySemiconductorsOptoelectronics & PhotonicsLasers & LiDAR Systems

Revenue $977M -24.1%
EBITDA -$147M -148.7%
Net Income -$182M -182.9%
EPS (Diluted) -4.09 -188.3%
Gross Margin 34.61% -17.8%
EBITDA Margin -15.02% -164.1%
Operating Margin -21.31% -218.3%
Net Margin -18.58% -209.3%
ROE -8.18% -189.7%
ROIC -9.35% -197.9%
Debt/Equity 0.01 +17.3%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 15.3% free cash flow margin
✓Share count reduced 6.3% through buybacks

✗Weaknesses

✗Weak 3Y average ROE of 1.7%
✗Weak Piotroski F-Score: 3/9
✗Sales declining 5.8% over 5 years

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y2.41%

5Y-5.76%

3Y-12.55%

TTM-7.49%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM117.34%

EPS CAGR

10Y-

5Y-

3Y-

TTM117.51%

ROCE

10Y Avg14.25%

5Y Avg5.47%

3Y Avg2.21%

Latest-9.12%

Peer Comparison

Lasers & LiDAR Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AEVAWAeva Technologies, Inc.	2.87M	0.17	-0.06	110.23%	-10.31%	-470.41%		0.04
AAOIApplied Optoelectronics, Inc.	2.33B	34.18	-7.60	14.57%	-36.97%	-27.88%		0.83
POETPOET Technologies Inc.	940.84M	7.14	-7.60	-91.11%	-66.28%	-76.09%		0.35
IPGPIPG Photonics Corporation	3.23B	76.77	-18.77	-24.1%	2.66%	1.22%	4.62%	0.01
LASRnLIGHT, Inc.	2.17B	42.72	-33.64	-5.42%	-19.13%	-19.92%		0.06

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	901.26M	1.01B	1.41B	1.46B	1.31B	1.2B	1.46B	1.43B	1.29B	977.13M
Revenue Growth %	0.17%	0.12%	0.4%	0.04%	-0.1%	-0.09%	0.22%	-0.02%	-0.1%	-0.24%
Cost of Goods Sold+	409.39M	453.93M	611.98M	659.61M	708.37M	661.73M	764.46M	874.13M	745.74M	638.98M
COGS % of Revenue	0.45%	0.45%	0.43%	0.45%	0.54%	0.55%	0.52%	0.61%	0.58%	0.65%
Gross Profit+	491.88M	552.24M	796.91M	800.27M	606.21M	539M	696.4M	555.41M	541.7M	338.15M
Gross Margin %	0.55%	0.55%	0.57%	0.55%	0.46%	0.45%	0.48%	0.39%	0.42%	0.35%
Gross Profit Growth %	0.18%	0.12%	0.44%	0%	-0.24%	-0.11%	0.29%	-0.2%	-0.02%	-0.38%
Operating Expenses+	149.83M	187.93M	245.8M	276.86M	372.42M	340.34M	328.51M	385.91M	309.73M	546.41M
OpEx % of Revenue	0.17%	0.19%	0.17%	0.19%	0.28%	0.28%	0.22%	0.27%	0.24%	0.56%
Selling, General & Admin	89.06M	104.88M	130.47M	160.24M	185.34M	180.59M	204.06M	207.9M	211.43M	213.9M
SG&A % of Revenue	0.1%	0.1%	0.09%	0.11%	0.14%	0.15%	0.14%	0.15%	0.16%	0.22%
Research & Development	63.33M	78.55M	100.87M	122.77M	130M	126.9M	139.57M	116.11M	98.7M	109.78M
R&D % of Revenue	0.07%	0.08%	0.07%	0.08%	0.1%	0.11%	0.1%	0.08%	0.08%	0.11%
Other Operating Expenses	-2.56M	4.5M	14.46M	-6.15M	57.08M	32.85M	-15.12M	61.9M	-407K	222.73M
Operating Income+	342.04M	364.31M	551.11M	523.4M	233.79M	198.66M	367.88M	169.5M	231.97M	-208.25M
Operating Margin %	0.38%	0.36%	0.39%	0.36%	0.18%	0.17%	0.25%	0.12%	0.18%	-0.21%
Operating Income Growth %	0.21%	0.07%	0.51%	-0.05%	-0.55%	-0.15%	0.85%	-0.54%	0.37%	-1.9%
EBITDA+	384.46M	415.79M	615.68M	603.68M	330.06M	293.21M	464.21M	260.06M	301.59M	-146.81M
EBITDA Margin %	0.43%	0.41%	0.44%	0.41%	0.25%	0.24%	0.32%	0.18%	0.23%	-0.15%
EBITDA Growth %	0.2%	0.08%	0.48%	-0.02%	-0.45%	-0.11%	0.58%	-0.44%	0.16%	-1.49%
D&A (Non-Cash Add-back)	42.41M	51.48M	64.57M	80.27M	96.27M	94.55M	96.33M	90.56M	69.62M	61.44M
EBIT	339.48M	368.81M	565.57M	517.25M	290.87M	231.51M	352.76M	231.4M	231.57M	14.48M
Net Interest Income+	301K	1.3M	737K	9.06M	14.24M	6.27M	0	12.62M	0	45.47M
Interest Income	301K	0	737K	9.06M	14.24M	6.27M	0	12.62M	0	45.47M
Interest Expense	0	1.3M	0	0	0	0	0	0	0	0
Other Income/Expense	-426K	2.25M	759K	10.99M	14.58M	7.03M	-1.4M	13.85M	42.9M	46.37M
Pretax Income+	341.62M	366.56M	551.87M	534.39M	248.38M	205.69M	366.48M	183.35M	274.88M	-161.89M
Pretax Margin %	0.38%	0.36%	0.39%	0.37%	0.19%	0.17%	0.25%	0.13%	0.21%	-0.17%
Income Tax+	99.59M	105.85M	204.28M	130.23M	68.11M	45.35M	88.61M	72.59M	56M	19.64M
Effective Tax Rate %	0.71%	0.71%	0.63%	0.76%	0.73%	0.78%	0.76%	0.6%	0.8%	1.12%
Net Income+	242.15M	260.75M	347.61M	404.03M	180.23M	159.57M	278.42M	109.91M	218.88M	-181.53M
Net Margin %	0.27%	0.26%	0.25%	0.28%	0.14%	0.13%	0.19%	0.08%	0.17%	-0.19%
Net Income Growth %	0.21%	0.08%	0.33%	0.16%	-0.55%	-0.11%	0.74%	-0.61%	0.99%	-1.83%
Net Income (Continuing)	242.03M	260.72M	347.59M	404.17M	180.26M	160.34M	277.87M	110.76M	218.88M	-181.53M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	1.14M	166K	0	686K	717K	1.29M	639K	0	0	0
EPS (Diluted)+	4.53	4.85	6.36	7.38	3.35	2.97	5.16	2.16	4.63	-4.09
EPS Growth %	0.2%	0.07%	0.31%	0.16%	-0.55%	-0.11%	0.74%	-0.58%	1.14%	-1.88%
EPS (Basic)	4.59	4.91	6.50	7.55	3.40	3.00	5.21	2.17	4.64	-4.09
Diluted Shares Outstanding	53.43M	53.8M	54.7M	54.73M	53.84M	53.78M	53.93M	50.92M	47.32M	44.34M
Basic Shares Outstanding	52.68M	53.07M	53.49M	53.52M	53.06M	53.19M	53.41M	50.76M	47.15M	44.34M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.12B	1.3B	1.75B	1.81B	1.9B	2.15B	2.35B	1.99B	1.91B	1.43B
Cash & Short-Term Investments	689.12M	830.63M	1.12B	1.04B	1.18B	1.39B	1.51B	1.18B	1.18B	930.19M
Cash Only	582.53M	623.86M	909.9M	544.36M	680.07M	876.23M	709.11M	698.21M	514.67M	620.04M
Short-Term Investments	106.58M	206.78M	206.26M	500.43M	502.55M	514.84M	805.4M	479.37M	662.81M	310.15M
Accounts Receivable	150.48M	155.9M	237.28M	255.51M	238.48M	264.32M	262.12M	211.35M	219.05M	171.13M
Days Sales Outstanding	60.94	56.55	61.47	63.88	66.21	80.35	65.49	53.96	62.1	63.92
Inventory	203.74M	239.01M	307.71M	403.58M	380.79M	364.99M	460.75M	509.36M	453.87M	284.78M
Days Inventory Outstanding	181.65	192.18	183.53	223.32	196.21	201.33	219.99	212.69	222.15	162.67
Other Current Assets	45.91M	41.29M	47.92M	57.76M	55.88M	57.8M	73.32M	47.05M	38.21M	27.3M
Total Non-Current Assets+	330.49M	489.04M	617.97M	769.03M	833.8M	787.62M	822.86M	757.01M	784.24M	858.27M
Property, Plant & Equipment	288.6M	379.38M	460.21M	543.07M	600.85M	597.53M	635.3M	580.56M	602.26M	588.38M
Fixed Asset Turnover	3.12x	2.65x	3.06x	2.69x	2.19x	2.01x	2.30x	2.46x	2.14x	1.66x
Goodwill	505K	19.83M	55.83M	100.72M	82.09M	41.37M	38.61M	38.33M	38.54M	67.24M
Intangible Assets	11.9M	28.79M	51.22M	87.14M	74.27M	62.11M	52.68M	34.12M	26.23M	55.38M
Long-Term Investments	0	77K	16K	4.7M	0	0	0	0	0	0
Other Non-Current Assets	20.09M	18.53M	18.99M	14.23M	45.19M	43.42M	48.51M	28.85M	28.43M	32.25M
Total Assets+	1.45B	1.79B	2.37B	2.57B	2.73B	2.94B	3.17B	2.74B	2.7B	2.29B
Asset Turnover	0.62x	0.56x	0.59x	0.57x	0.48x	0.41x	0.46x	0.52x	0.48x	0.43x
Asset Growth %	0.2%	0.23%	0.33%	0.09%	0.06%	0.08%	0.08%	-0.13%	-0.02%	-0.15%
Total Current Liabilities+	144.98M	158.28M	198.9M	245.78M	191.9M	214.58M	313.43M	274.65M	214.86M	205.02M
Accounts Payable	26.31M	28.05M	35.11M	36.3M	27.33M	25.75M	55.84M	46.23M	28.62M	35.38M
Days Payables Outstanding	23.46	22.55	20.94	20.09	14.08	14.2	26.66	19.3	14.01	20.21
Short-Term Debt	2M	3.19M	3.6M	3.67M	3.74M	3.81M	18.13M	16.03M	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	42.05M	58.72M	81.21M	84.71M	48.88M	62.78M	109.51M	88.96M	80.25M	69.36M
Current Ratio	7.75x	8.22x	8.82x	7.35x	9.88x	10.01x	7.49x	7.23x	8.91x	6.98x
Quick Ratio	6.34x	6.71x	7.27x	5.70x	7.90x	8.31x	6.02x	5.38x	6.80x	5.59x
Cash Conversion Cycle	219.13	226.19	224.06	267.12	248.34	267.47	258.82	247.35	270.24	206.38
Total Non-Current Liabilities+	47.78M	74M	150.75M	122.44M	136.09M	127.01M	109.89M	83.27M	68.65M	59.77M
Long-Term Debt	17.67M	37.63M	45.38M	41.71M	37.97M	34.16M	16.03M	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	18.52M	16.79M	13.66M	13.12M
Deferred Tax Liabilities	30.12M	36.37M	105.37M	80.73M	98.12M	92.85M	1.63M	1.47M	1.51M	14.21M
Other Non-Current Liabilities	0	0	100.65M	0	0	0	73.7M	65.02M	53.48M	32.44M
Total Liabilities	192.76M	232.28M	349.65M	368.22M	327.99M	341.59M	423.32M	357.92M	283.51M	264.79M
Total Debt+	19.67M	40.82M	48.98M	45.38M	47.01M	43.74M	58.13M	38.05M	18.26M	17.96M
Net Debt	-562.87M	-583.03M	-860.92M	-498.98M	-633.06M	-832.49M	-650.97M	-660.16M	-496.41M	-602.08M
Debt / Equity	0.02x	0.03x	0.02x	0.02x	0.02x	0.02x	0.02x	0.02x	0.01x	0.01x
Debt / EBITDA	0.05x	0.10x	0.08x	0.08x	0.14x	0.15x	0.13x	0.15x	0.06x	-
Net Debt / EBITDA	-1.46x	-1.40x	-1.40x	-0.83x	-1.92x	-2.84x	-1.40x	-2.54x	-1.65x	-
Interest Coverage	-	279.38x	-	-	-	-	-	-	-	-
Total Equity+	1.26B	1.56B	2.02B	2.21B	2.4B	2.59B	2.75B	2.39B	2.42B	2.02B
Equity Growth %	0.2%	0.24%	0.3%	0.09%	0.09%	0.08%	0.06%	-0.13%	0.01%	-0.16%
Book Value per Share	23.60	28.96	36.97	40.31	44.62	48.23	50.94	46.84	51.04	45.66
Total Shareholders' Equity	1.26B	1.56B	2.02B	2.21B	2.4B	2.59B	2.75B	2.39B	2.42B	2.02B
Common Stock	5K	5K	5K	5K	5K	6K	6K	6K	6K	6K
Retained Earnings	833.36M	1.09B	1.44B	1.85B	2.03B	2.19B	2.47B	2.58B	2.8B	2.61B
Treasury Stock	0	-8.95M	-48.93M	-225M	-265.73M	-303.61M	-438.5M	-938.01M	-1.16B	-1.51B
Accumulated OCI	-181.48M	-178.58M	-77.34M	-162.9M	-146.92M	-146.06M	-189.95M	-204.52M	-212.53M	-119.37M
Minority Interest	1.14M	166K	0	686K	717K	1.29M	639K	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	256.57M	292.29M	404.45M	393.3M	323.52M	285.33M	389.7M	212.65M	295.99M	247.9M
Operating CF Margin %	0.28%	0.29%	0.29%	0.27%	0.25%	0.24%	0.27%	0.15%	0.23%	0.25%
Operating CF Growth %	0.39%	0.14%	0.38%	-0.03%	-0.18%	-0.12%	0.37%	-0.45%	0.39%	-0.16%
Net Income	242.03M	260.72M	347.59M	404.17M	180.26M	160.34M	277.87M	110.76M	218.88M	-181.53M
Depreciation & Amortization	42.41M	51.48M	64.57M	80.27M	96.27M	94.55M	96.33M	90.56M	69.62M	61.44M
Stock-Based Compensation	18.99M	21.73M	23.02M	28.03M	33.36M	35.47M	37.86M	38.3M	39.5M	37.07M
Deferred Taxes	-7.15M	-12.91M	22.88M	-4.58M	-15.49M	-12.81M	-6.88M	-27.57M	-13.79M	-25.66M
Other Non-Cash Items	35M	51.49M	53.91M	32.61M	120.55M	104.54M	68.5M	202.82M	36.33M	295.05M
Working Capital Changes	-74.71M	-80.22M	-107.52M	-147.2M	-91.43M	-96.75M	-83.97M	-202.22M	-54.56M	61.52M
Change in Receivables	-9.23M	-11.85M	-60.92M	-20.24M	-481K	-13.02M	-2.09M	34.1M	-10.39M	46.83M
Change in Inventory	-70.56M	-53.63M	-71.08M	-135.44M	-28.11M	-39.9M	-149.75M	-189.01M	1.82M	47.73M
Change in Payables	9.81M	-407K	2.31M	-1.43M	-10.26M	-1.94M	31M	-12.17M	-16.32M	-1.53M
Cash from Investing+	-181.57M	-274.41M	-169.86M	-563M	-139.97M	-99.57M	-416.28M	296.95M	-237.55M	208.73M
Capital Expenditures	-70.12M	-127.04M	-126.53M	-160.34M	-133.54M	-87.7M	-123.11M	-110.14M	-110.48M	-98.52M
CapEx % of Revenue	0.08%	0.13%	0.09%	0.11%	0.1%	0.07%	0.08%	0.08%	0.09%	0.1%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	93K	1.13M	15.53M	1.44M	898K	882K	-1.51M	26.82M	31.8M	29M
Cash from Financing+	2.5M	32.85M	-3.37M	-166.65M	-37.07M	-10.08M	-125.07M	-514.55M	-236.38M	-339.62M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	21.04M	20.64M	28.46M	13.02M	7.34M	31.54M	13.63M	3.08M	3.15M	4.2M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	186.45M	165.25M	277.91M	232.96M	189.99M	197.64M	266.59M	102.51M	185.5M	149.37M
FCF Margin %	0.21%	0.16%	0.2%	0.16%	0.14%	0.16%	0.18%	0.07%	0.14%	0.15%
FCF Growth %	0.99%	-0.11%	0.68%	-0.16%	-0.18%	0.04%	0.35%	-0.62%	0.81%	-0.19%
FCF per Share	3.49	3.07	5.08	4.26	3.53	3.67	4.94	2.01	3.92	3.37
FCF Conversion (FCF/Net Income)	1.06x	1.12x	1.16x	0.97x	1.80x	1.79x	1.40x	1.93x	1.35x	-1.37x
Interest Paid	873K	942K	2.58M	3.05M	2.68M	2.23M	2.71M	3.21M	1.28M	277K
Taxes Paid	91.33M	126.96M	155.56M	112.76M	116.95M	85.86M	63M	113.2M	62.92M	40.63M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	20.99%	18.5%	19.42%	19.11%	7.82%	6.39%	10.42%	4.28%	9.12%	-8.18%
Return on Invested Capital (ROIC)	40.79%	32.67%	38.7%	27.37%	10.09%	8.44%	14.3%	6.65%	9.55%	-9.35%
Gross Margin	54.58%	54.89%	56.56%	54.82%	46.11%	44.89%	47.67%	38.85%	42.08%	34.61%
Net Margin	26.87%	25.92%	24.67%	27.68%	13.71%	13.29%	19.06%	7.69%	17%	-18.58%
Debt / Equity	0.02x	0.03x	0.02x	0.02x	0.02x	0.02x	0.02x	0.02x	0.01x	0.01x
Interest Coverage	-	279.38x	-	-	-	-	-	-	-	-
FCF Conversion	1.06x	1.12x	1.16x	0.97x	1.80x	1.79x	1.40x	1.93x	1.35x	-1.37x
Revenue Growth	17.07%	11.64%	40.02%	3.62%	-9.95%	-8.66%	21.66%	-2.14%	-9.94%	-24.1%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
High Power Continuous Wave CW Lasers	-	-	-	909.73M	734.75M	646.06M	687.41M	613.73M	524.98M	332.74M
High Power Continuous Wave CW Lasers Growth	-	-	-	-	-19.23%	-12.07%	6.40%	-10.72%	-14.46%	-36.62%
Amplifiers, Laser Systems, Service, Parts, Accessories And Change In Deferred Revenue	-	-	-	166.31M	187.45M	201.36M	264.67M	284.37M	295.38M	246.79M
Amplifiers, Laser Systems, Service, Parts, Accessories And Change In Deferred Revenue Growth	-	-	-	-	12.71%	7.42%	31.44%	7.45%	3.87%	-16.45%
Pulsed Lasers	-	-	-	66.7M	137.68M	158.45M	240.98M	250.68M	185.58M	146.76M
Pulsed Lasers Growth	-	-	-	-	106.41%	15.09%	52.09%	4.02%	-25.97%	-20.92%
Laser And Non-Laser Systems	-	-	-	-	141.65M	93.73M	126.64M	153.47M	161.18M	139.15M
Laser And Non-Laser Systems Growth	-	-	-	-	-	-33.83%	35.12%	21.18%	5.02%	-13.67%
Medium And Low Power CW Lasers	-	-	-	-	56.63M	50.8M	80.5M	77.08M	71.67M	63.69M
Medium And Low Power CW Lasers Growth	-	-	-	-	-	-10.29%	58.48%	-4.25%	-7.01%	-11.14%
Quasi-Continuous Wave QCW Lasers	-	-	-	59.33M	56.44M	50.33M	60.67M	50.21M	48.65M	48.02M
Quasi-Continuous Wave QCW Lasers Growth	-	-	-	-	-4.87%	-10.82%	20.53%	-17.23%	-3.11%	-1.30%
Low Power CW Lasers	-	-	-	162.05M	-	-	-	-	-	-
Low Power CW Lasers Growth	-	-	-	-	-	-	-	-	-	-
Medium Power CW Lasers	-	-	-	95.76M	-	-	-	-	-	-
Medium Power CW Lasers Growth	-	-	-	-	-	-	-	-	-	-
Materials Processing	849.34M	942.12M	1.33B	-	-	-	-	-	-	-
Materials Processing Growth	-	10.92%	41.45%	-	-	-	-	-	-	-
Other Applications	51.93M	64.05M	76.28M	-	-	-	-	-	-	-
Other Applications Growth	-	23.34%	19.09%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
North America	-	-	-	202.74M	280.89M	246.19M	314.98M	338.71M	313.99M	258.89M
North America Growth	-	-	-	-	38.54%	-12.35%	27.94%	7.53%	-7.30%	-17.55%
CHINA	311.95M	358.48M	621.28M	629.08M	491.89M	502.28M	548.35M	479.93M	355.32M	245M
CHINA Growth	-	14.92%	73.31%	1.25%	-21.81%	2.11%	9.17%	-12.48%	-25.96%	-31.05%
Other European Geographical Areas	-	-	-	296.92M	249.87M	219.54M	289.14M	294.48M	291.34M	197.15M
Other European Geographical Areas Growth	-	-	-	-	-15.84%	-12.14%	31.70%	1.85%	-1.07%	-32.33%
Other Asian Geographical Areas	-	-	-	127.25M	121.59M	103.78M	139.15M	152.37M	142.38M	113.23M
Other Asian Geographical Areas Growth	-	-	-	-	-4.45%	-14.64%	34.07%	9.50%	-6.56%	-20.47%
GERMANY	93.8M	90.89M	114.61M	111.26M	81.36M	65.65M	101.74M	85.49M	88.03M	87.8M
GERMANY Growth	-	-3.10%	26.09%	-2.92%	-26.87%	-19.32%	54.98%	-15.97%	2.97%	-0.26%
JAPAN	76.03M	88.59M	80.61M	87.62M	71.76M	53.18M	54.08M	57.87M	72.33M	62.35M
JAPAN Growth	-	16.52%	-9.01%	8.69%	-18.10%	-25.89%	1.69%	7.00%	25.00%	-13.80%
Rest Of World	3.34M	2.14M	5.45M	5.01M	17.23M	10.11M	13.43M	20.7M	24.06M	12.71M
Rest Of World Growth	-	-35.97%	154.44%	-8.06%	244.11%	-41.33%	32.88%	54.13%	16.24%	-47.15%
Europe	189.12M	224.84M	290.07M	-	-	-	-	-	-	-
Europe Growth	-	18.88%	29.01%	-	-	-	-	-	-	-
United States And Other North America	131.53M	141.18M	165.36M	-	-	-	-	-	-	-
United States And Other North America Growth	-	7.34%	17.13%	-	-	-	-	-	-	-
Asia And Australia	95.49M	100.05M	131.51M	-	-	-	-	-	-	-
Asia And Australia Growth	-	4.77%	31.44%	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

IPG Photonics Corporation (IPGP) reported $963.6M in revenue for fiscal year 2024. This represents a 103% increase from $474.5M in 2011.

IPG Photonics Corporation (IPGP) saw revenue decline by 24.1% over the past year.

Yes, IPG Photonics Corporation (IPGP) is profitable, generating $25.6M in net income for fiscal year 2024 (-18.6% net margin).

Dividend & Returns

IPG Photonics Corporation (IPGP) has a return on equity (ROE) of -8.2%. Negative ROE indicates the company is unprofitable.

IPG Photonics Corporation (IPGP) generated $36.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.