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Optics·IPGP
IPG Photonics Corporation
NASDAQ · US
Fiber laser, fiber amplifier, and diode laser supplier.
AI relevance
Photonics and laser-source exposure adjacent to optical component and semiconductor manufacturing ecosystems.
Price
$107.69
Change
+0.04 (+0.04%)
Market cap
$4.6B
52w range
$67–$156
Exchange
NASDAQ
Country
US
Jason's Chips
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Price chart
IPGP market performance
Daily close for IPG Photonics Corporation
- Latest close
- $107.7
- Range move
- +$39.26 (+57.3%)
- Range high
- $153.9
- Range low
- $67.79
- Latest volume
- 79.8K
- Source
- FMP EOD
Downloads
CSVExports
Download statements, ratios, chart data, and transcript indexes.
Income statement
12 annual rowsRevenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.
Balance sheet
12 annual rowsCash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.
Cash flow
12 annual rowsOperating cash flow, capital expenditures, and free cash flow.
Key metrics
12 annual rowsEnterprise value, valuation multiples, returns, yields, and cash conversion.
Ratios
12 annual rowsMargins, liquidity ratios, valuation ratios, leverage, and per-share metrics.
Chart data
1255 rowsFive years of daily close and volume data powering the company chart.
Transcript list
70 rowsAvailable earnings-call transcript dates by fiscal year and quarter.
StreetBuy
Analyst expectations
Rating consensus27 ratings
Strong buy
0
Buy
16
Hold
10
Sell
1
Strong sell
0
Annual estimates
| Period | Revenue avg | Revenue range | EPS avg | EPS range | EBITDA avg | EBIT avg | Net income avg | SG&A avg | Analysts |
|---|---|---|---|---|---|---|---|---|---|
| 2026-12-31 | $1.11B | $1.10B - $1.14B | $1.27 | $1.15 - $1.70 | $212.9M | $143.2M | $55.8M | $202.3M | 7 rev / 6 EPS |
| 2027-12-31 | $1.21B | $1.19B - $1.27B | $2.14 | $1.75 - $3.17 | $232.2M | $156.2M | $92.1M | $220.7M | 7 rev / 7 EPS |
| 2028-12-31 | $1.34B | $1.34B - $1.34B | $2.64 | $2.53 - $2.75 | $256.9M | $172.8M | $112.7M | $244.1M | 2 rev / 2 EPS |
| 2029-12-31 | $1.39B | $1.36B - $1.44B | $3.32 | $3.23 - $3.46 | $266.0M | $179.0M | $141.5M | $252.8M | 1 rev / 1 EPS |
Quarterly estimates
| Period | Revenue avg | Revenue range | EPS avg | EPS range | EBITDA avg | EBIT avg | Net income avg | SG&A avg | Analysts |
|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | $280.0M | $275.8M - $285.8M | $0.37 | $0.33 - $0.44 | $53.5M | $36.0M | $15.7M | $50.9M | 6 rev / 6 EPS |
| 2026-09-30 | $276.6M | $265.7M - $291.1M | $0.39 | $0.28 - $0.59 | $52.9M | $35.6M | $16.9M | $50.2M | 6 rev / 6 EPS |
| 2026-12-31 | $290.1M | $280.2M - $304.5M | $0.46 | $0.44 - $0.49 | $55.5M | $37.3M | $19.8M | $52.7M | 5 rev / 4 EPS |
| 2027-03-31 | $283.8M | $274.2M - $297.9M | $0.42 | $0.40 - $0.45 | $54.3M | $36.5M | $18.2M | $51.6M | 3 rev / 2 EPS |
| 2027-06-30 | $301.7M | $291.5M - $316.8M | $0.53 | $0.51 - $0.57 | $57.7M | $38.8M | $22.9M | $54.8M | 3 rev / 2 EPS |
| 2027-09-30 | $301.8M | $291.6M - $316.8M | $0.55 | $0.52 - $0.58 | $57.7M | $38.8M | $23.5M | $54.8M | 3 rev / 2 EPS |
| 2027-12-31 | $316.4M | $305.7M - $332.2M | $0.63 | $0.60 - $0.67 | $60.5M | $40.7M | $26.9M | $57.5M | 3 rev / 2 EPS |
Price target history
| Window | Targets | Average target |
|---|---|---|
| Last month | 0 | $0.00 |
| Last quarter | 2 | $130.50 |
| Last year | 7 | $129.14 |
| All time | 11 | $118.00 |
Sources: TheFly, StreetInsider, Benzinga
Latest grade actions
| Date | Firm | Action | Previous | New |
|---|---|---|---|---|
| 2026-05-06 | Needham | Upgrade | Hold | Buy |
| 2026-05-06 | Citigroup | Maintain | Buy | Buy |
| 2026-05-06 | Stifel | Maintain | Buy | Buy |
| 2026-02-13 | Raymond James | Downgrade | Strong Buy | Outperform |
| 2026-02-13 | Stifel | Maintain | Buy | Buy |
| 2026-02-03 | Roth Capital | Maintain | Buy | Buy |
| 2025-11-05 | Citigroup | Upgrade | Sell | Buy |
| 2025-08-07 | Bernstein | Upgrade | Market Perform | Outperform |
Historical rating snapshots
| Date | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| 2026-06-01 | 2 | 4 | 2 | 0 | 1 |
| 2026-05-01 | 2 | 4 | 3 | 0 | 1 |
| 2026-04-01 | 1 | 4 | 3 | 0 | 1 |
| 2026-03-01 | 1 | 4 | 3 | 0 | 1 |
| 2026-02-01 | 1 | 5 | 4 | 0 | 1 |
| 2026-01-01 | 0 | 5 | 4 | 0 | 1 |
| 2025-12-01 | 0 | 5 | 4 | 0 | 1 |
| 2025-11-01 | 0 | 5 | 4 | 1 | 1 |
FinancialsFY 2025
Financials
Income statement annual
| Period | Revenue | Gross profit | Gross margin | R&D | Operating income | EBITDA | Net income | EPS |
|---|---|---|---|---|---|---|---|---|
| FY 2025 | $1.00B | $381.5M | 38.0% | $117.4M | $13.1M | $112.0M | $31.1M | $0.73 |
| FY 2024 | $977.1M | $338.2M | 34.6% | $109.8M | -$208.3M | $75.9M | -$181.5M | $-4.09 |
| FY 2023 | $1.29B | $541.7M | 42.1% | $98.7M | $232.0M | $301.2M | $218.9M | $4.64 |
| FY 2022 | $1.43B | $555.4M | 38.9% | $116.1M | $169.5M | $322.0M | $109.9M | $2.17 |
| FY 2021 | $1.46B | $696.4M | 47.7% | $139.6M | $367.9M | $449.1M | $278.4M | $5.21 |
| FY 2020 | $1.20B | $539.0M | 44.9% | $126.9M | $198.7M | $326.1M | $159.6M | $3.00 |
| FY 2019 | $1.31B | $606.2M | 46.1% | $130.0M | $233.8M | $387.1M | $180.2M | $3.40 |
| FY 2018 | $1.46B | $800.3M | 54.8% | $122.8M | $523.4M | $597.5M | $404.0M | $7.55 |
| FY 2017 | $1.41B | $796.9M | 56.6% | $100.9M | $551.1M | $630.1M | $347.6M | $6.50 |
| FY 2016 | $1.01B | $552.2M | 54.9% | $78.6M | $364.3M | $420.3M | $260.8M | $4.91 |
| FY 2015 | $901.3M | $491.9M | 54.6% | $63.3M | $342.0M | $381.9M | $242.2M | $4.59 |
| FY 2014 | $769.8M | $416.5M | 54.1% | $53.4M | $283.8M | $312.8M | $200.4M | $3.85 |
Cash flow annual
| Period | Operating cash flow | Capex | Free cash flow |
|---|---|---|---|
| FY 2025 | $75.3M | $78.8M | -$3.5M |
| FY 2024 | $247.9M | $98.5M | $149.4M |
| FY 2023 | $296.0M | $110.5M | $185.5M |
| FY 2022 | $212.6M | $110.1M | $102.5M |
| FY 2021 | $389.7M | $123.1M | $266.6M |
| FY 2020 | $285.3M | $87.7M | $197.6M |
| FY 2019 | $323.5M | $133.5M | $190.0M |
| FY 2018 | $393.3M | $160.3M | $233.0M |
| FY 2017 | $404.4M | $126.5M | $277.9M |
| FY 2016 | $292.3M | $127.0M | $165.2M |
| FY 2015 | $256.6M | $70.1M | $186.5M |
| FY 2014 | $184.2M | $90.6M | $93.6M |
Balance sheet annual
| Period | Cash + ST inv. | Receivables | Inventory | PP&E | Assets | Debt | Net debt | Liabilities | Equity |
|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | $839.3M | $181.7M | $313.4M | $637.5M | $2.42B | $17.3M | -$386.5M | $296.1M | $2.13B |
| FY 2024 | $930.2M | $171.1M | $284.8M | $588.4M | $2.29B | $18.0M | -$602.1M | $264.8M | $2.02B |
| FY 2023 | $1.18B | $219.1M | $453.9M | $602.3M | $2.70B | $18.3M | -$496.4M | $283.5M | $2.42B |
| FY 2022 | $1.18B | $211.3M | $509.4M | $580.6M | $2.74B | $38.1M | -$660.2M | $357.9M | $2.39B |
| FY 2021 | $1.51B | $262.1M | $460.7M | $635.3M | $3.17B | $58.1M | -$651.0M | $423.3M | $2.75B |
| FY 2020 | $1.39B | $264.3M | $365.0M | $597.5M | $2.94B | $43.7M | -$832.5M | $341.6M | $2.59B |
| FY 2019 | $1.18B | $238.5M | $380.8M | $600.9M | $2.73B | $47.0M | -$633.1M | $328.0M | $2.40B |
| FY 2018 | $1.04B | $255.5M | $403.6M | $543.1M | $2.57B | $45.4M | -$499.0M | $368.2M | $2.21B |
| FY 2017 | $1.12B | $237.3M | $307.7M | $460.2M | $2.37B | $49.0M | -$860.9M | $349.7M | $2.02B |
| FY 2016 | $830.6M | $155.9M | $239.0M | $379.4M | $1.79B | $40.8M | -$583.0M | $232.3M | $1.56B |
| FY 2015 | $689.1M | $150.5M | $203.7M | $288.6M | $1.45B | $19.7M | -$562.9M | $192.8M | $1.26B |
| FY 2014 | $522.1M | $143.1M | $171.0M | $275.1M | $1.21B | $35.6M | -$486.5M | $164.3M | $1.05B |
Annual ratios and key metrics
| Period | Gross margin | Op margin | Net margin | Current | Quick | ROE | ROIC | EV / sales | EV / EBITDA | FCF yield | R&D / rev. | Cash cycle |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | 38.0% | 1.3% | 3.1% | 6.1x | 4.7x | 1.5% | 0.4% | 2.7x | 23.8x | -0.1% | 11.7% | 227d |
| FY 2024 | 34.6% | -21.3% | -18.6% | 7.0x | 5.6x | -9.0% | -10.0% | 2.7x | 34.5x | 4.6% | 11.2% | 206d |
| FY 2023 | 42.1% | 18.0% | 17.0% | 8.9x | 6.8x | 9.1% | 7.4% | 3.6x | 15.3x | 3.6% | 7.7% | 270d |
| FY 2022 | 38.9% | 11.9% | 7.7% | 7.2x | 5.4x | 4.6% | 4.1% | 2.9x | 12.9x | 2.1% | 8.1% | 247d |
| FY 2021 | 47.7% | 25.2% | 19.1% | 7.5x | 6.0x | 10.1% | 9.7% | 5.8x | 19.0x | 2.9% | 9.6% | 259d |
| FY 2020 | 44.9% | 16.5% | 13.3% | 10.0x | 8.3x | 6.2% | 5.7% | 9.2x | 34.0x | 1.7% | 10.6% | 267d |
| FY 2019 | 46.1% | 17.8% | 13.7% | 9.9x | 7.9x | 7.5% | 6.7% | 5.4x | 18.2x | 2.5% | 9.9% | 248d |
| FY 2018 | 54.8% | 35.9% | 27.7% | 7.3x | 5.7x | 18.3% | 17.0% | 3.8x | 9.3x | 3.8% | 8.4% | 267d |
| FY 2017 | 56.6% | 39.1% | 24.7% | 8.8x | 7.3x | 17.2% | 15.9% | 7.5x | 16.8x | 2.4% | 7.2% | 224d |
| FY 2016 | 54.9% | 36.2% | 25.9% | 8.2x | 6.7x | 16.7% | 15.8% | 4.6x | 11.1x | 3.2% | 7.8% | 226d |
| FY 2015 | 54.6% | 38.0% | 26.9% | 7.7x | 6.3x | 19.2% | 18.5% | 4.6x | 10.8x | 4.0% | 7.0% | 219d |
| FY 2014 | 54.1% | 36.9% | 26.0% | 7.3x | 5.9x | 19.2% | 18.1% | 4.4x | 10.9x | 2.4% | 6.9% | 227d |
Annual growth
| Period | Revenue | Gross profit | R&D | Op income | Net income | EPS | FCF | Capex | Cash + ST inv. | Inventory | Assets | Debt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | +2.7% | +12.8% | +6.9% | +106.3% | +117.1% | +117.8% | -102.3% | +20.0% | -9.8% | +10.1% | +5.9% | -3.9% |
| FY 2024 | -24.1% | -37.6% | +11.2% | -189.8% | -182.9% | -188.1% | -19.5% | +10.8% | -21.0% | -37.3% | -15.2% | -1.7% |
| FY 2023 | -9.9% | -2.5% | -15.0% | +36.9% | +99.1% | +113.8% | +81.0% | -0.3% | -0.0% | -10.9% | -1.6% | -52.0% |
| FY 2022 | -2.1% | -20.2% | -16.8% | -53.9% | -60.5% | -58.3% | -61.5% | +10.5% | -22.2% | +10.6% | -13.5% | -34.5% |
| FY 2021 | +21.7% | +29.2% | +10.0% | +85.2% | +74.5% | +73.7% | +34.9% | -40.4% | +8.9% | +26.2% | +8.0% | +32.9% |
| FY 2020 | -8.7% | -11.1% | -2.4% | -15.0% | -11.5% | -11.8% | +4.0% | +34.3% | +17.6% | -4.1% | +7.5% | -6.9% |
| FY 2019 | -10.0% | -24.2% | +5.9% | -55.3% | -55.4% | -55.0% | -18.4% | +16.7% | +13.2% | -5.6% | +6.1% | +3.6% |
| FY 2018 | +3.6% | +0.4% | +21.7% | -5.0% | +16.2% | +16.2% | -16.2% | -26.7% | -6.4% | +31.2% | +8.5% | -7.4% |
| FY 2017 | +40.0% | +44.3% | +28.4% | +51.3% | +33.3% | +32.4% | +68.2% | +0.4% | +34.4% | +28.7% | +32.5% | +20.0% |
| FY 2016 | +11.6% | +12.3% | +24.0% | +6.5% | +7.7% | +7.0% | -11.4% | -81.2% | +20.5% | +17.3% | +23.2% | +107.6% |
| FY 2015 | +17.1% | +18.1% | +18.6% | +20.5% | +20.8% | +19.2% | +99.2% | +22.6% | +32.0% | +19.1% | +20.0% | -44.8% |
| FY 2014 | +18.8% | +22.5% | +28.2% | +30.1% | +28.7% | +27.5% | +93.2% | -27.8% | +16.3% | -1.0% | +14.1% | +123.2% |
SegmentsFY 2025
Revenue Mix
Latest product mixFY 2025 · $739.3M
High Power Continuous Wave CW Lasers$308.8M · 41.8%
Laser And Non-Laser Systems$147.2M · 19.9%
Pulsed Lasers$143.3M · 19.4%
Medium And Low Power CW Lasers$88.2M · 11.9%
Quasi-Continuous Wave QCW Lasers$51.8M · 7.0%
Latest geography mixFY 2025 · $1.73B
Asia$480.1M · 27.8%
CHINA$291.9M · 16.9%
North America$267.2M · 15.5%
Europe$243.7M · 14.1%
Other European Geographical Areas$138.5M · 8.0%
Other Asian Geographical Areas$121.8M · 7.1%
GERMANY$105.2M · 6.1%
JAPAN$66.4M · 3.8%
Rest Of World$12.8M · 0.7%
Product revenue annual
| Period | Total | High Power Continuous Wave CW Lasers | Materials Processing | Amplifiers, Laser Systems, Service, Parts, Accessories And Change In Deferred Revenue | Pulsed Lasers | Laser And Non-Laser Systems | Medium And Low Power CW Lasers | Quasi-Continuous Wave QCW Lasers | Other Applications | Low Power CW Lasers | Medium Power CW Lasers |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | $739.3M | $308.8M | -- | -- | $143.3M | $147.2M | $88.2M | $51.8M | -- | -- | -- |
| FY 2024 | $977.1M | $332.7M | -- | $246.8M | $146.8M | $139.1M | $63.7M | $48.0M | -- | -- | -- |
| FY 2023 | $1.29B | $525.0M | -- | $295.4M | $185.6M | $161.2M | $71.7M | $48.6M | -- | -- | -- |
| FY 2022 | $1.43B | $613.7M | -- | $284.4M | $250.7M | $153.5M | $77.1M | $50.2M | -- | -- | -- |
| FY 2021 | $1.46B | $687.4M | -- | $264.7M | $241.0M | $126.6M | $80.5M | $60.7M | -- | -- | -- |
| FY 2020 | $1.20B | $646.1M | -- | $201.4M | $158.4M | $93.7M | $50.8M | $50.3M | -- | -- | -- |
| FY 2019 | $1.31B | $734.7M | -- | $187.4M | $137.7M | $141.6M | $56.6M | $56.4M | -- | -- | -- |
| FY 2018 | $1.46B | $909.7M | -- | $166.3M | $66.7M | -- | -- | $59.3M | -- | $162.0M | $95.8M |
| FY 2017 | $1.41B | -- | $1.33B | -- | -- | -- | -- | -- | $76.3M | -- | -- |
| FY 2016 | $1.01B | -- | $942.1M | -- | -- | -- | -- | -- | $64.1M | -- | -- |
| FY 2015 | $901.3M | -- | $849.3M | -- | -- | -- | -- | -- | $51.9M | -- | -- |
| FY 2014 | $769.8M | -- | $731.3M | -- | -- | -- | -- | -- | $38.6M | -- | -- |
Geography revenue annual
| Period | Total | CHINA | North America | Other European Geographical Areas | Europe | GERMANY | Other Asian Geographical Areas | JAPAN | United States And Other North America | Asia | Asia And Australia | Rest Of World |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | $1.73B | $291.9M | $267.2M | $138.5M | $243.7M | $105.2M | $121.8M | $66.4M | -- | $480.1M | -- | $12.8M |
| FY 2024 | $977.1M | $245.0M | $258.9M | $197.2M | -- | $87.8M | $113.2M | $62.4M | -- | -- | -- | $12.7M |
| FY 2023 | $1.29B | $355.3M | $314.0M | $291.3M | -- | $88.0M | $142.4M | $72.3M | -- | -- | -- | $24.1M |
| FY 2022 | $1.43B | $479.9M | $338.7M | $294.5M | -- | $85.5M | $152.4M | $57.9M | -- | -- | -- | $20.7M |
| FY 2021 | $1.46B | $548.3M | $315.0M | $289.1M | -- | $101.7M | $139.1M | $54.1M | -- | -- | -- | $13.4M |
| FY 2020 | $1.20B | $502.3M | $246.2M | $219.5M | -- | $65.6M | $103.8M | $53.2M | -- | -- | -- | $10.1M |
| FY 2019 | $1.31B | $491.9M | $280.9M | $249.9M | -- | $81.4M | $121.6M | $71.8M | -- | -- | -- | $17.2M |
| FY 2018 | $1.46B | $629.1M | $202.7M | $296.9M | -- | $111.3M | $127.3M | $87.6M | -- | -- | -- | $5.0M |
| FY 2017 | $1.41B | $621.3M | -- | -- | $290.1M | $114.6M | -- | $80.6M | $165.4M | -- | $131.5M | $5.4M |
| FY 2016 | $1.01B | $358.5M | -- | -- | $224.8M | $90.9M | -- | $88.6M | $141.2M | -- | $100.1M | $2.1M |
| FY 2015 | $901.3M | $311.9M | -- | -- | $189.1M | $93.8M | -- | $76.0M | $131.5M | -- | $95.5M | $3.3M |
| FY 2014 | $769.8M | $245.1M | -- | -- | $173.0M | $77.4M | -- | $72.6M | $113.2M | -- | $85.4M | $3.1M |
Transcripts70 on file
Transcripts
Events
Events
Next earnings
2026-08-04EPS est $0.40
Latest news
- IPG (IPGP) Up 19.3% Since Last Earnings Report: Can It Continue?
Zacks Investment Research · 2026-06-04
- This Director Sale Isn't the Story — IPG Photonics Is Quietly Retooling
Fool - Investing News · 2026-05-24