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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.

Revenue: +14.6%
EPS: +164.8%
Free cash flow: +105.2%

Quarter to September 2026, against a year earlier

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65.04 3.01 +4.85%

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Market cap: $2.6B
P/E: 65.0×
Fwd P/E: 65.8×
Dividend yield: —
F-score: 8/9
Altman Z: 8.69
Beneish M: −2.50
Dividend safety: n/a

Overview

	Sep '26	Jun '26	Mar '26	Dec '25	Older periods
P/E ratio Full definition →	81.82	177.76	163.70	95.47	+8 more quarters Free account
P/S ratio Full definition →	3.01	4.66	4.65	3.02
P/FCF ratio Full definition →	88.70	224.82	0.00	0.00
P/Operating CF Full definition →	72.06	131.84	(886.12)	105.24
P/B ratio Full definition →	1.55	2.34	2.29	1.42
Price to Tangible BV Full definition →	1.63	2.48	2.42	1.51
EV/Sales Full definition →	2.20	3.87	3.90	2.22
EV/EBITDA Full definition →	32.77	67.85	71.31	33.73
EV/Operating CF Full definition →	22.68	42.95	71.93	29.52
EV/FCF Full definition →	64.87	186.92	(329.93)	(878.37)
Quick Ratio Full definition →	4.34	4.40	4.07	4.36
Current Ratio Full definition →	5.99	6.18	5.80	6.08
Net Debt/EBITDA Full definition →	(25.20)	(43.45)	(99.67)	(89.71)
Debt/Assets Full definition →	0.00%	0.00%	0.00%	0.00%
Debt/Equity Full definition →	0.00	0.00	0.00	0.00
Asset Turnover Full definition →	0.46	0.45	0.44	0.43
Operating CF/Net income Full definition →	2.28	7.21	(3.45)	2.17
Capex/Depreciation Full definition →	(1.02)	(1.32)	(0.98)	(2.91)
Research and Development Expense of Revenue Full definition →	10.90%	11.13%	12.55%	10.48%
Selling, General and Administrative Expense of Revenue Full definition →	21.37%	21.67%	22.83%	23.49%
Intangible Assets out of Total Assets Full definition →	0.05	0.05	0.05	0.05
Share Based Compensation of Revenue Full definition →	3.83%	3.69%	3.86%	3.70%
Graham Net Nets Full definition →	0.37	0.24	0.23	0.37
Graham Number Full definition →	33.03	27.27	28.09	29.12
Earnings Yield Full definition →	1.22%	0.56%	0.61%	1.05%
Free Cash Flow Yield Full definition →	1.13%	0.44%	(0.25%)	(0.08%)
Revenue per Share Full definition →	6.76	6.56	6.28	6.48
Operating CF per Share Full definition →	1.09	0.89	(0.13)	0.68
Capex per Share Full definition →	(0.38)	(0.48)	(0.37)	(0.41)
Free Cash Flow per Share Full definition →	0.71	0.41	(0.50)	0.27
Cash per Share Full definition →	21.77	20.52	19.24	19.82
Shareholders Equity per Share Full definition →	50.67	50.09	50.08	50.26
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00
Book value per Share Full definition →	50.67	50.09	50.08	50.26
Free Cash Flow Full definition →	29.99	17.27	(20.96)	11.24
Working Capital Full definition →	1,285.12	1,239.45	1,185.96	1,189.40
Capital Expenditures Full definition →	(16.21)	(20.52)	(15.50)	(17.57)
Net Current Asset Value Full definition →	1,225.54	1,181.38	1,127.29	1,127.29
EV/EBIT Full definition →	116.55	519.93	1,146.44	169.72
Capex to Sales Full definition →	0.06	0.07	0.06	0.06
Price to Operating Income Full definition →	159.37	625.32	1,367.09	231.37
Other line items
Average Receivables Full definition →	178.77	191.50	184.67	176.43
Average Payables Full definition →	44.50	42.20	46.32	37.34
Average Inventory Full definition →	330.91	317.32	303.31	299.10
Average Assets Full definition →	2,426.50	2,402.01	2,369.50	2,356.77
Average Common Equity Full definition →	2,129.88	2,115.87	2,088.12	2,076.30

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Columns are period end dates · fundamentals updated 5 Nov 2026

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