Saturday 17 October 2026 Export IPGP’s income statement to Excel — free account

IPG Photonics Corporation

IPGP Technology Semiconductor Equipment & Materials

IPG Photonics Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.0 billion, up 2.73% from fiscal 2024. In the quarter to June 2026, revenue grew 11.1%, EPS fell 25.0% and free cash flow grew 200.5%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

71.01 2.75 −3.73%

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Market cap: $3.1B
P/E: 108×
Fwd P/E: 82.3×
Dividend yield: —
F-score: 8/9
Altman Z: 8.69
Beneish M: −2.50
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.20

Total sells 68.86

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	1	—	—
Sell	6	4	5	4	1	—	2	4	3	1	—	—

Insider Ownership 39.60%

Capital & Financial Ratios $m

Market Cap 3,140.00

Revenue 1,069.34

Net Income 27.56

Free Cash Flow 22.16

Net Debt (871.32)

Current Ratio 6.18

Debt/Equity 0.00

P/E ratio 107.59

Fwd P/E 82.30

P/S ratio 2.82

P/B ratio 1.42

Past 5Y EPS Growth (24.47%)

This Y EPS Growth 51.20%

Next Y EPS Growth 104.24%

Next Y revenue growth 11.88%

Next 5Y EPS Growth 61.28%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 89.44%

10-year low 10-year high

P/S against its own 10 years 2.32%

10-year low 10-year high

P/B against its own 10 years 4.42%

10-year low 10-year high

EV/Sales against its own 10 years 3.98%

10-year low 10-year high

EV/FCF against its own 10 years 97.10%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,177	930	839	871
Receivables	219	171	182	182
Inventory	454	285	313	331
Other	—	—	—	—
	1,915	1,431	1,423	1,479

	2023	2024	2025	Q'26
Payables	29	35	39	43
ST’ Debt	—	—	—	—
Other	—	—	—	—
	215	205	234	239

Compound Annual Growth %

	10y	5y	3y
Sales	1.08%	(3.52%)	(11.12%)
Cash Flow	(11.77%)	(23.38%)	(29.24%)
Earnings	(18.56%)	(27.90%)	(34.35%)
Book Value	5.38%	(3.88%)	(3.73%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	265	279	—	—	—
’25	228	251	251	274	1,004
’24	252	258	233	234	977
’23	347	340	301	299	1,287
’22	370	377	349	334	1,430
’21	346	372	379	364	1,461
’20	249	296	318	337	1,201

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(5)	38	—	—	—
’25	13	(2)	35	29	75
’24	55	53	66	74	248
’23	37	67	86	106	296
’22	16	79	76	42	213
’21	88	116	102	85	390
’20	57	73	70	0	285

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(21)	17	—	—	—
’25	(11)	(17)	15	11	(3)
’24	52	32	43	51	178
’23	5	41	89	82	217
’22	(8)	44	51	42	129
’21	60	89	63	56	268
’20	39	54	45	0	199

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.04	0.12	—	—	—
’25	0.09	0.16	0.18	0.31	0.73
’24	0.52	0.45	(5.33)	0.18	(4.09)
’23	1.26	1.31	1.16	0.89	4.63
’22	1.31	1.10	1.47	(1.91)	2.16
’21	1.26	1.29	1.40	1.21	5.16
’20	0.68	0.71	0.66	0.92	2.97

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	73.55	95.04	104.64	107.52	98.04	151.27	79.88	83.00	61.86	48.59	Analyst estimates 2026–2028 Powerpack
	High	102.90	248.23	264.11	182.17	227.09	262.55	176.63	141.85	108.09	92.21
People
People	Employees	4,230	5,030	6,220	5,960	6,060	6,580	6,230	6,180	4,740	4,840
	Revenue/emp, $m	0.24	0.28	0.23	0.22	0.20	0.22	0.23	0.21	0.21	0.21
Income, $m
Income, $m	Revenue	1,006	1,409	1,460	1,315	1,201	1,461	1,430	1,287	977	1,004
	Gross margin, %	54.89	56.56	54.82	46.11	44.89	47.67	38.85	42.08	34.61	38.00
	EBT	367	552	534	248	206	366	183	275	(162)	45
	EBT margin, %	36.43	39.17	36.61	18.89	17.13	25.09	12.83	21.35	(16.57)	4.49
	Net income	261	348	404	180	160	278	111	219	(182)	31
	Depreciation	51	65	80	133	139	99	91	45	44	53
Per share, $
Per share, $	Revenue	18.96	26.34	27.28	24.77	22.58	27.35	28.16	27.30	22.04	23.70
	Earnings	4.91	6.50	7.55	3.40	3.00	5.21	2.17	4.64	(4.09)	0.73
	Cash flow	5.61	7.58	7.35	6.10	5.36	7.30	4.19	6.28	5.59	1.78
	Capex	(2.38)	(2.07)	(2.98)	(2.50)	(1.63)	(2.28)	(1.64)	(1.68)	(1.58)	(1.84)
	Free cash flow	3.23	5.51	4.37	3.59	3.73	5.02	2.55	4.60	4.01	(0.06)
	Book value	29.35	37.80	41.22	45.28	48.77	51.44	46.99	51.22	45.66	50.26
	Shares, m	53	53	54	53	53	53	51	47	44	42
Valuation, ×
Valuation, ×	P/E	20.12	34.21	15.01	42.62	74.35	33.04	48.49	23.02	0.00	95.47
	P/S	5.21	8.44	4.15	5.85	9.91	6.29	3.43	3.90	3.30	3.02
	P/B	3.37	5.88	2.75	3.20	4.59	3.35	2.05	2.08	1.59	1.42
	EV/Sales	4.42	7.68	3.47	4.98	8.79	5.28	2.62	3.01	2.38	2.22
	EV/FCF	25.99	36.73	21.64	34.35	75.99	28.78	29.00	17.90	13.07	(878.37)
Cash, $m
Cash, $m	Operating cash flow	298	405	393	324	285	390	213	296	248	75
	Capex	(126)	(111)	(159)	(133)	(87)	(122)	(83)	(79)	(70)	(78)
	Free cash flow	171	295	234	191	199	268	129	217	178	(3)
Balance, $m
Balance, $m	Working capital	1,143	1,555	1,560	1,705	1,933	2,034	1,712	1,700	1,226	1,189
	Total debt	41	49	45	42	38	34	16	—	—	—
	Net debt	(790)	(1,067)	(999)	(1,141)	(1,353)	(1,480)	(1,162)	(1,177)	(930)	(839)
	Shareholders’ equity	1,558	2,022	2,206	2,402	2,594	2,747	2,385	2,415	2,024	2,128
Returns, %
Returns, %	ROA	16.08	16.72	16.35	6.80	5.63	9.12	3.72	8.04	(7.28)	1.32
	ROIC	29.65	36.06	27.11	11.58	10.00	18.15	8.66	11.71	(11.89)	0.64
	ROE	18.50	19.42	19.11	7.82	6.39	10.42	4.28	9.12	(8.18)	1.50

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
KLIC Kulicke and Soffa Industries, Inc.	$4.4B	35.6×	34.7×	+122.63% (above 0%: growing)	n/m	+856.72% (above 0%: growing)	47.80%	20.66%	Compare
ACMR ACM Research, Inc.	$4.1B	23.6×	36.3×	+36.01% (above 0%: growing)	+178.72% (above 0%: growing)	−19.43% (below 0%: shrinking)	45.96%	16.98%	Compare
AXTI AXT Inc	$3.8B	1,716×	379×	+164.77% (above 0%: growing)	n/m	+173.29% (above 0%: growing)	44.90%	21.90%	Compare
ACLS Axcelis Technologies, Inc.	$3.6B	36.1×	59.9×	+10.60% (above 0%: growing)	−23.23% (below 0%: shrinking)	−60.74% (below 0%: shrinking)	42.38%	9.43%	Compare
IPGP IPG Photonics Corporation	$3.1B	108×	82.3×	+11.11% (above 0%: growing)	−25.00% (below 0%: shrinking)	+200.46% (above 0%: growing)	40.39%	1.63%
AMBA Ambarella, Inc.	$2.8B	— (loss-making)	— (loss-making)	+13.21% (above 0%: growing)	n/m	−612.08% (below 0%: shrinking)	57.73%	(7.53%)	Compare
VECO Veeco Instruments Inc.	$2.8B	113×	57.6×	+16.48% (above 0%: growing)	−5.00% (below 0%: shrinking)	+776.15% (above 0%: growing)	38.68%	6.13%	Compare
COHU Cohu, Inc.	$2.6B	— (loss-making)	— (loss-making)	+38.37% (above 0%: growing)	n/m	−39.36% (below 0%: shrinking)	45.36%	0.20%	Compare
UCTT Ultra Clean Holdings, Inc.	$2.5B	— (loss-making)	98.9×	+24.31% (above 0%: growing)	n/m	−558.40% (below 0%: shrinking)	16.08%	4.57%	Compare
Median of peers	$3.2B	36.1×	58.8×	+30.16%	−5.00%	−29.39%	45.13%	7.78%

All 29 Semiconductor Equipment & Materials stocks →

IPG Photonics Corporation (IPGP) key facts

Strength: IPG Photonics Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.0 billion, up 2.73% from fiscal 2024.
IPG Photonics Corporation (IPGP) is a Semiconductor Equipment & Materials company in the Technology sector, listed on Nasdaq.
As of October 16, 2026, IPGP traded at $71.01, a market capitalization of $3.1 billion.
Return on equity was 1.50% and debt-to-equity 0.00.
Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 8.69 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.