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

65.09 3.06 +4.93%
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

IPG Photonics Corporation (IPGP) Operating margin

Alert me on Operating margin

IPG Photonics Corporation's operating margin over the twelve months to 30 September 2026 was 1.89%, up 0.6 percentage points from fiscal 2025 (1.31%). Over the past ten years it has ranged from −21.3% (fiscal 2024) to 39.1% (fiscal 2017); the current reading is higher than 18% of that period. That is below the Semiconductor Equipment & Materials industry median of 12.0% and above the Technology sector median of 0.02%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 1.31% 22.62
FY2024 −21.3% (39.33)
FY2023 18.0% 6.16
FY2022 11.9% (13.32)
FY2021 25.2% 8.64
FY2020 16.5% (1.24)
FY2019 17.8% (18.07)
FY2018 35.9% (3.27)
FY2017 39.1% 2.91
FY2016 36.2% (1.74)

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 7.23% 5.60
Jun 2026 1.63% 4.54
Mar 2026 −2.91% (4.12)
Dec 2025 1.21% (1.92)
43 more quarters

Against its own ten years

Low −21.3% High 39.1%
Ten-year median 18.0%
Current reading's percentile 19

Operating margin against peers

Company Operating margin
AXTI AXT Inc compare 19.6%
ACMR ACM Research, Inc. compare 13.3%
KLIC Kulicke and Soffa Industries, Inc. compare 13.2%
ACLS Axcelis Technologies, Inc. compare 10.3%
UCTT Ultra Clean Holdings, Inc. compare 4.32%
VECO Veeco Instruments Inc. compare 3.02%
IPGP IPG Photonics Corporation 1.89%
COHU Cohu, Inc. compare −2.38%
AMBA Ambarella, Inc. compare −14.9%
Semiconductor Equipment & Materials industry median 12.0%
Technology sector median 0.02%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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