IPG Photonics (IPGP)

Nasdaq Information Technology Electronic Manufacturing Services S&P MidCap 400

$65.31

+3.28 (+5.29%)

Close of Nov 06, 2026 · end-of-day data

Source: IPG Photonics's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 04, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$1.01B	$1.41B	$1.46B	$1.31B	$1.20B	$1.46B	$1.43B	$1.29B	$977.13M	$1.00B
Cost of revenue	$453.93M	$611.98M	$659.61M	$708.37M	$661.73M	$764.46M	$874.13M	$745.74M	$638.98M	$622.31M
Gross profit	$552.24M	$796.91M	$800.27M	$606.21M	$539.00M	$696.40M	$555.41M	$541.70M	$338.15M	$381.46M
Research & development	$78.55M	$100.87M	$122.77M	$130.00M	$126.90M	$139.57M	$116.11M	$98.70M	$109.78M	$117.40M
Operating income	$364.31M	$551.11M	$523.40M	$233.79M	$198.66M	$367.88M	$169.50M	$231.97M	-$208.25M	$13.10M
Pre-tax income	$366.56M	$551.87M	$534.39M	$248.38M	$205.69M	$366.48M	$183.35M	$274.88M	-$161.89M	$45.10M
Income tax	$105.85M	$204.28M	$130.23M	$68.11M	$45.35M	$88.61M	$72.59M	$56.00M	$19.64M	$14.00M
Net income	$260.75M	$347.61M	$404.03M	$180.23M	$159.57M	$278.42M	$109.91M	$218.88M	-$181.53M	$31.10M
EBITDA	$415.79M	$615.68M	$603.68M	$330.06M	$293.21M	$464.21M	$260.06M	$301.59M	-$146.81M	$79.96M
EPS (basic)	$4.91	$6.50	$7.55	$3.40	$3.00	$5.21	$2.17	$4.64	$-4.09	$0.73
EPS (diluted)	$4.85	$6.36	$7.38	$3.35	$2.97	$5.16	$2.16	$4.63	$-4.09	$0.73
Diluted shares	53.80M	54.70M	54.73M	53.84M	53.78M	53.93M	50.92M	47.32M	44.34M	42.65M
Gross margin	54.9%	56.6%	54.8%	46.1%	44.9%	47.7%	38.9%	42.1%	34.6%	38.0%
Operating margin	36.2%	39.1%	35.9%	17.8%	16.5%	25.2%	11.9%	18.0%	-21.3%	1.3%
Net margin	25.9%	24.7%	27.7%	13.7%	13.3%	19.1%	7.7%	17.0%	-18.6%	3.1%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$623.86M	$909.90M	$544.36M	$680.07M	$876.23M	$709.11M	$698.21M	$514.67M	$620.04M	$403.79M
Short-term investments	$206.78M	$206.26M	$500.43M	$502.55M	$514.84M	$805.40M	$479.37M	$662.81M	$310.15M	$435.54M
Receivables	$155.90M	$237.28M	$255.51M	$238.48M	$264.32M	$262.12M	$211.35M	$219.05M	$171.13M	$181.73M
Inventory	$239.01M	$307.71M	$403.58M	$380.79M	$364.99M	$460.75M	$509.36M	$453.87M	$284.78M	$313.42M
Total current assets	$1.30B	$1.75B	$1.81B	$1.90B	$2.15B	$2.35B	$1.99B	$1.91B	$1.43B	$1.42B
Goodwill	$19.83M	$55.83M	$100.72M	$82.09M	$41.37M	$38.61M	$38.33M	$38.54M	$67.24M	$71.73M
Total assets	$1.79B	$2.37B	$2.57B	$2.73B	$2.94B	$3.17B	$2.74B	$2.70B	$2.29B	$2.42B
Total current liabilities	$158.28M	$198.90M	$245.77M	$191.90M	$214.58M	$313.43M	$274.65M	$214.86M	$205.02M	$234.04M
Short-term debt	$3.19M	$3.60M	$3.67M	$3.74M	$3.81M	$18.13M	$16.03M	$0	—	—
Long-term debt	$37.63M	$45.38M	$41.71M	$37.97M	$34.16M	$16.03M	$0	—	—	—
Total debt	$40.82M	$48.98M	$45.38M	$41.71M	$37.97M	$34.16M	$16.03M	$0	—	—
Total liabilities	$232.28M	$344.93M	$368.21M	$327.99M	$341.59M	$423.32M	$357.92M	$283.51M	$264.79M	$296.15M
Shareholders' equity	$1.56B	$2.02B	$2.21B	$2.40B	$2.59B	$2.75B	$2.39B	$2.42B	$2.02B	$2.13B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$297.70M	$405.39M	$393.30M	$323.52M	$285.33M	$389.70M	$212.65M	$295.99M	$247.90M	$75.34M
Capital expenditures	$127.04M	$126.53M	$160.34M	$133.54M	$87.70M	$123.11M	$110.14M	$110.48M	$98.52M	$78.80M
Free cash flow	$170.65M	$278.86M	$232.96M	$189.99M	$197.64M	$266.59M	$102.51M	$185.50M	$149.37M	-$3.45M
Investing cash flow	-$274.41M	-$170.81M	-$563.00M	-$139.97M	-$99.57M	-$416.28M	$296.95M	-$237.55M	$208.73M	-$265.23M
Financing cash flow	$27.44M	-$3.37M	-$166.65M	-$37.07M	-$10.08M	-$125.07M	-$514.55M	-$236.38M	-$339.62M	-$54.19M
Share buybacks	$8.95M	$39.99M	$176.06M	$40.73M	$37.88M	$134.89M	$499.51M	$223.50M	$343.82M	$53.13M
Stock-based compensation	$21.73M	$23.02M	$28.03M	$33.36M	$35.47M	$37.86M	$38.30M	$39.50M	$37.07M	$42.95M
Depreciation & amortization	$51.48M	$64.57M	$80.27M	$96.27M	$94.55M	$96.33M	$90.56M	$69.62M	$61.44M	$66.85M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$298.89M	$252.01M	$257.64M	$233.14M	$234.34M	$227.79M	$250.72M	$250.79M	$274.47M	$265.50M	$278.58M	$287.50M
Cost of revenue	$184.73M	$154.47M	$161.46M	$179.05M	$143.99M	$137.98M	$157.15M	$151.79M	$175.40M	$166.00M	$166.06M	$170.45M
Gross profit	$114.17M	$97.54M	$96.19M	$54.09M	$90.34M	$89.81M	$93.57M	$99.00M	$99.07M	$99.50M	$112.52M	$117.05M
Research & development	$27.71M	$29.38M	$27.49M	$27.18M	$25.74M	$28.34M	$29.94M	$30.36M	$28.77M	$33.31M	$31.00M	$31.34M
Operating income	$28.78M	$19.10M	$12.04M	-$253.35M	$13.95M	$1.83M	$104.00K	$7.86M	$3.32M	-$7.74M	$4.53M	$20.78M
Pre-tax income	$42.15M	$33.60M	$25.01M	-$242.51M	$22.01M	$10.62M	$8.27M	$15.65M	$10.56M	$1.02M	$12.54M	$28.41M
Income tax	$725.00K	$9.50M	$4.86M	-$8.92M	$14.20M	$6.86M	$1.67M	$8.19M	-$2.71M	-$565.00K	$7.30M	$8.14M
Net income	$41.43M	$24.10M	$20.15M	-$233.59M	$7.82M	$3.76M	$6.61M	$7.46M	$13.27M	$1.58M	$5.24M	$20.27M
EBITDA	$45.72M	$35.31M	$27.33M	-$238.23M	$28.77M	$17.17M	$15.93M	$23.49M	$23.37M	$8.16M	$20.05M	$36.74M
EPS (basic)	$0.89	$0.52	$0.45	$-5.33	$0.13	$0.09	$0.16	$0.18	$0.31	$0.04	$0.12	$0.48
EPS (diluted)	$0.90	$0.52	$0.45	$-5.33	$0.13	$0.09	$0.16	$0.18	$0.31	$0.04	$0.12	$0.47
Diluted shares	-215.56K	46.17M	45.01M	43.84M	-565.39K	42.83M	42.58M	42.56M	-9.53K	42.91M	42.91M	42.84M
Gross margin	38.2%	38.7%	37.3%	23.2%	38.6%	39.4%	37.3%	39.5%	36.1%	37.5%	40.4%	40.7%
Operating margin	9.6%	7.6%	4.7%	-108.7%	6.0%	0.8%	0.0%	3.1%	1.2%	-2.9%	1.6%	7.2%
Net margin	13.9%	9.6%	7.8%	-100.2%	3.3%	1.6%	2.6%	3.0%	4.8%	0.6%	1.9%	7.1%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$514.67M	$496.45M	$720.54M	$883.87M	$620.04M	$363.05M	$359.18M	$346.03M	$403.79M	$480.76M	$399.23M	$710.69M
Short-term investments	$662.81M	$643.65M	$343.36M	$135.44M	$310.15M	$563.83M	$540.41M	$524.36M	$435.54M	$332.14M	$472.09M	$215.30M
Receivables	$219.05M	$184.01M	$176.15M	$163.54M	$171.13M	$176.91M	$201.04M	$166.38M	$181.73M	$192.44M	$181.96M	$191.15M
Inventory	$453.87M	$431.90M	$400.84M	$320.72M	$284.78M	$287.62M	$303.84M	$323.93M	$313.42M	$319.01M	$330.80M	$337.89M
Total current assets	$1.91B	$1.83B	$1.72B	$1.57B	$1.43B	$1.44B	$1.47B	$1.43B	$1.42B	$1.43B	$1.48B	$1.54B
Goodwill	$38.54M	$38.35M	$38.28M	$38.48M	$67.24M	$68.62M	$71.76M	$71.65M	$71.73M	$70.91M	$70.48M	$70.28M
Total assets	$2.70B	$2.60B	$2.50B	$2.36B	$2.29B	$2.32B	$2.38B	$2.38B	$2.42B	$2.42B	$2.42B	$2.47B
Total current liabilities	$214.86M	$192.13M	$190.48M	$194.18M	$205.02M	$197.03M	$216.95M	$213.38M	$234.04M	$247.18M	$239.32M	$257.51M
Short-term debt	$0	—	—	—	—	—	—	—	—	—	—	—
Total debt	$0	—	—	—	—	—	—	—	—	—	—	—
Total liabilities	$283.51M	$257.72M	$242.06M	$240.52M	$264.79M	$256.91M	$274.90M	$276.15M	$296.15M	$305.85M	$297.39M	$317.10M
Shareholders' equity	$2.42B	$2.34B	$2.25B	$2.11B	$2.02B	$2.06B	$2.10B	$2.10B	$2.13B	$2.12B	$2.13B	$2.15B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$106.06M	$54.60M	$53.46M	$66.06M	$73.78M	$13.45M	-$2.22M	$35.31M	$28.81M	-$5.46M	$37.79M	$46.20M
Capital expenditures	$25.23M	$28.05M	$24.22M	$23.09M	$23.17M	$24.82M	$15.36M	$20.73M	$17.89M	$16.31M	$20.71M	$17.41M
Free cash flow	$80.83M	$26.54M	$29.24M	$42.97M	$50.62M	-$11.37M	-$17.57M	$14.57M	$10.92M	-$21.77M	$17.08M	$28.79M
Investing cash flow	-$74.56M	$23.74M	$284.91M	$162.63M	-$262.55M	-$274.39M	$12.87M	-$31.39M	$27.67M	$95.25M	-$118.59M	$267.61M
Financing cash flow	-$60.39M	-$90.77M	-$119.45M	-$74.38M	-$55.01M	-$5.67M	-$28.79M	-$16.46M	-$3.27M	-$11.71M	$957.00K	-$2.95M
Share buybacks	$63.97M	$89.62M	$122.40M	$74.46M	$57.34M	—	—	$16.40M	$6.53M	$0	$0	$2.65M
Stock-based compensation	$12.11M	$9.74M	$8.54M	$11.10M	$7.69M	$10.75M	$11.29M	$10.74M	$10.15M	$10.25M	$10.28M	$11.02M
Depreciation & amortization	$16.94M	$16.21M	$15.29M	$15.12M	$14.82M	$15.34M	$15.83M	$15.63M	$20.05M	$15.89M	$15.52M	$15.96M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.