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IPG Photonics Corporation

IPGP NASDAQ Categories PDF
Technology · Semiconductors · United States · Updated May 10, 8:17pm
$104.49
Price
$4.4B
Market Cap
4,740
Employees
0.98
Beta
Mark Milton Gitin
CEO
Business Description

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories. It also provides erbium-doped fiber and Raman amplifiers, and integrated communications systems, which are deployed in broadband networks; and ytterbium and thulium specialty fiber amplifiers and broadband light sources. In addition, the company offers integrated laser systems; 2D compact flat sheet cutter systems and multi-axis systems; welding seam stepper and picker, a fiber laser welding tool; high precision laser systems; specialized fiber laser systems; and optical transceiver and transponder modules for interconnecting electronic equipment, including Ethernet switches, IP routers and DWDM/SONET/SDH optical transport modules within telecommunications, cable multi-system operators, and data center networking applications. It's lasers and amplifiers are also used in materials processing, communications, and medical and advanced applications. The company markets its products to original equipment manufacturers, system integrators, and end users through direct sales force, as well as through agreements with independent sales representatives and distributors. IPG Photonics Corporation was founded in 1990 and is headquartered in Oxford, Massachusetts.

Business History
Price Overview
Last updated: May 11, 2026 1:52pm (just now)
$103.73
-0.76 (-0.73%)
Day Range
$102.00 – $106.37
52-Week Range
$63.33 – $155.82
50-Day MA
$118.79
200-Day MA
$94.18
Volume
254,439.66
Analyst Price Targets
Low $110.00
Consensus $141.25
High $180.00
(10 analysts)
Share Structure
Outstanding 42,443,600.00
Float 27,419,000.00
Free Float 64.6%
Normal free float — 64.6% of shares trade freely, ~35.4% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
API
Stock Price / EPS (Diluted)
151.51
Stock Price: $104.49
EPS (Diluted): 0.73
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
1.43
Stock Price: $104.49
Total Equity: $2.13B
Shares: 42,650,000
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
53.81
Market Cap: $4.43B
Total Debt: $0.00
Cash: $403.79M
EBITDA: $111.95M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$2.6B
Market Cap: $4.43B
Total Debt: $0.00
Cash: $403.79M
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
38.0%
Gross Profit: $381.46M
Revenue: $1.00B
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
1.3%
Operating Income: $13.10M
Revenue: $1.00B
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
3.1%
Net Income: $31.10M
Revenue: $1.00B
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
1.4%
Net Income: $31.10M
Total Equity: $2.13B
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
0.1%
Operating Income: $13.10M
Tax Rate: 31.0%
Equity: $2.13B
Total Debt: $0.00
Cash: $403.79M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
6.08
Current Assets: $1.42B
Current Liabilities: $234.04M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $2.13B
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$23.54
Revenue: $1.00B
Shares: 42,650,000
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$49.90
Total Equity: $2.13B
Shares: 42,650,000
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$-0.08
Operating CF: $75.34M
CapEx: -$78.80M
Shares: 42,650,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $104.49
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $31.10M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares IPGP against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $1.5B $1.4B $1.3B $977.1M $1.0B
Cost of Revenue $764.5M $874.1M $745.7M $639.0M $622.3M
Gross Profit $696.4M $555.4M $541.7M $338.2M $381.5M
Operating Expenses $328.5M $385.9M $309.7M $546.4M $368.4M
Operating Income $367.9M $169.5M $232.0M -$208.3M $13.1M
Net Income $278.4M $109.9M $218.9M -$181.5M $31.1M
EBITDA $449.1M $322.0M $301.2M $75.9M $112.0M
EPS $5.21 $2.17 $4.64 $-4.09 $0.73
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $709.1M $698.2M $514.7M $620.0M $403.8M
Total Current Assets $2.3B $2.0B $1.9B $1.4B $1.4B
Total Assets $3.2B $2.7B $2.7B $2.3B $2.4B
Current Liabilities $313.4M $274.6M $214.9M $205.0M $234.0M
Long-Term Debt $16.0M $0 $0 $0 $0
Total Liabilities $423.3M $357.9M $283.5M $264.8M $296.2M
Total Equity $2.7B $2.4B $2.4B $2.0B $2.1B
Retained Earnings $2.5B $2.6B $2.8B $2.6B $2.6B
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow $389.7M $212.6M $296.0M $247.9M $75.3M
Capital Expenditure -$123.1M -$110.1M -$110.5M -$98.5M -$78.8M
Free Cash Flow $266.6M $102.5M $185.5M $149.4M -$3.5M
Acquisitions (net) $1.4M $50.9M $0 -$92.1M $505,000
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks -$134.9M -$499.5M -$223.5M -$343.8M -$54.2M
Net Change in Cash -$169.4M -$10.9M -$183.5M $105.4M -$216.3M
Analyst Estimates (Annual)
Metric 2026 2027 2028 2029
Revenue $1.1B
$1.1B – $1.2B
 $1.2B
$1.2B – $1.3B
 $1.4B
$1.4B – $1.4B
 $1.5B
$1.4B – $1.5B
EBITDA $213.1M
$205.4M – $220.9M
 $231.2M
$223.5M – $242.8M
 $264.8M
$264.8M – $264.8M
 $280.6M
$272.3M – $292.2M
Net Income $58.4M
$49.0M – $71.8M
 $93.5M
$68.1M – $126.0M
 $132.8M
$117.3M – $149.1M
 $180.4M
$173.4M – $190.1M
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth -2.1% -9.9% -24.1% +2.7%
Gross Profit Growth -20.2% -2.5% -37.6% +12.8%
Operating Income Growth -53.9% +36.9% -189.8% +106.3%
Net Income Growth -60.5% +99.1% -182.9% +117.1%
EBITDA Growth -28.3% -6.5% -74.8% +47.5%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-03-17 Buttarazzi Mary E. S-Sale 500.00 $116.22 $58,110
2026-03-09 Samartsev Igor 0.00 $0.00 $0
2026-03-01 Gitin Mark Milton F-InKind 7,603.00 $131.57 $1.0M
2026-03-01 Lopresti Angelo P F-InKind 3,848.00 $131.57 $506,281
2026-03-01 Mammen Timothy PV F-InKind 4,310.00 $131.57 $567,067
2026-03-01 Ness Trevor F-InKind 3,402.00 $131.57 $447,601
2026-03-01 Buttarazzi Mary E. F-InKind 435.00 $131.57 $57,233
2026-03-01 SCHERBAKOV EUGENE A F-InKind 7,237.00 $131.57 $952,172
2026-03-01 Samartsev Igor F-InKind 836.00 $131.57 $109,993
2026-02-20 IP FIBRE DEVICES LTD S-Sale 500.00 $128.79 $64,395
2026-02-20 IP FIBRE DEVICES LTD S-Sale 2,300.00 $129.93 $298,839
2026-02-20 IP FIBRE DEVICES LTD S-Sale 4,461.00 $131.11 $584,882
2026-02-20 IP FIBRE DEVICES LTD S-Sale 16,422.00 $132.21 $2.2M
2026-02-20 IP FIBRE DEVICES LTD S-Sale 5,484.00 $132.94 $729,043
2026-02-23 IP FIBRE DEVICES LTD S-Sale 4,241.00 $131.41 $557,310
2026-02-23 IP FIBRE DEVICES LTD S-Sale 4,604.00 $132.31 $609,155
2026-02-23 IP FIBRE DEVICES LTD S-Sale 7,994.00 $133.61 $1.1M
2026-02-23 IP FIBRE DEVICES LTD S-Sale 16,421.00 $134.35 $2.2M
2026-02-23 IP FIBRE DEVICES LTD S-Sale 120.00 $134.95 $16,194
2026-02-24 IP FIBRE DEVICES LTD S-Sale 100.00 $135.28 $13,528
Dividend History (Last 20)
Date Dividend Declaration Record Payment
2012-12-19 $0.65 2012-12-12 2012-12-21 2012-12-28
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My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27