IPGP - IPG PHOTONICS CORP

📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue Growth YoY (%)	2.7% Caution ↑ Caution Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-77%)	-24.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-301%)	-9.9% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-183%)	-2.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-118%)	21.7% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+81%)	-8.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-172%)	-10.0% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-183%)	3.6% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-70%)	40.0% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+234%)	11.6% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: At sector avg	17.1% Good → Good Stable Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+42%)	18.8% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+57%)	15.2% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+27%)	18.6% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+55%)	58.6% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+388%)	61.0% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+408%)	—	—
EPS Growth YoY (%)	N/M	N/M	113.8% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-58.3% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	73.7% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-11.8% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-55.0% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	16.2% Good ↓ Good Declining Year-over-year change in earnings per share Optimal: > 10%	32.4% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	6.7% Fair ↓ Fair Declining Year-over-year change in earnings per share Optimal: > 10%	19.5% Good ↑ Good Improving Year-over-year change in earnings per share Optimal: > 10%	27.5% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	5.2% Fair ↓ Fair Declining Year-over-year change in earnings per share Optimal: > 10%	15.7% Good ↓ Good Declining Year-over-year change in earnings per share Optimal: > 10%	113.8% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	866.7% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	N/M	N/M	99.1% Excellent ↑ Excellent Improving Year-over-year change in net income	-60.5% Weak ↓ Weak Declining Year-over-year change in net income	74.5% Excellent ↑ Excellent Improving Year-over-year change in net income	-11.5% Weak ↓ Weak Declining Year-over-year change in net income	-55.4% Weak ↓ Weak Declining Year-over-year change in net income	16.2% Good ↓ Good Declining Year-over-year change in net income	33.3% Excellent ↑ Excellent Improving Year-over-year change in net income	7.7% Fair ↓ Fair Declining Year-over-year change in net income	20.8% Good ↑ Good Improving Year-over-year change in net income	28.7% Excellent ↓ Excellent Declining Year-over-year change in net income	7.4% Fair ↓ Fair Declining Year-over-year change in net income	23.1% Good ↓ Good Declining Year-over-year change in net income	118.1% Excellent Excellent Year-over-year change in net income	896.3% Excellent Excellent Year-over-year change in net income	—	—
FCF Growth YoY (%)	N/M	-14.4% Weak ↓ Weak Declining Year-over-year change in free cash flow	94.8% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-59.5% Weak ↓ Weak Declining Year-over-year change in free cash flow	34.3% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	3.8% Caution ↓ Caution Declining Year-over-year change in free cash flow	-17.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	-16.5% Weak ↓ Weak Declining Year-over-year change in free cash flow	62.1% Excellent → Excellent Stable Year-over-year change in free cash flow	-9.1% Weak ↓ Weak Declining Year-over-year change in free cash flow	101.6% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	86.9% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-55.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	192.6% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-46.9% Weak Weak Year-over-year change in free cash flow	14.2% Fair Fair Year-over-year change in free cash flow	—	—
Revenue CAGR 3Y (%)	-11.1% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-12.5% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	2.4% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	2.8% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	0.0% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-5.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	9.3% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	17.4% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	22.3% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	15.8% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	17.0% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	17.5% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	29.4% Excellent Excellent Compound annual revenue growth over 3 years	44.6% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	-3.5% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-5.8% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-2.5% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	0.3% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	7.7% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	5.9% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	11.3% Good ↓ Good Declining Compound annual revenue growth over 5 years	17.6% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	20.2% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	16.2% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	24.7% Excellent Excellent Compound annual revenue growth over 5 years	32.9% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	-30.5% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	—	15.6% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	-13.9% Weak ↑ Weak Improving Compound annual EPS growth over 3 years	-11.6% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	-22.7% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	-11.5% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	18.0% Excellent → Excellent Stable Compound annual EPS growth over 3 years	19.1% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	17.6% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	17.0% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	15.8% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	37.6% Excellent Excellent Compound annual EPS growth over 3 years	188.1% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Operating Margin (%) (%)	1.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-93%)	-21.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-207%)	18.0% Good → Good Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-10%)	11.9% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-41%)	25.2% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+26%)	16.5% Fair ↓ Fair Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-17%)	17.8% Fair ↓ Fair Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-11%)	35.9% Excellent ↓ Excellent Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+79%)	39.1% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+96%)	36.2% Excellent → Excellent Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+81%)	38.0% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+90%)	36.9% Excellent → Excellent Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+84%)	33.7% Excellent → Excellent Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+68%)	37.1% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+86%)	37.0% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+85%)	26.9% Excellent Excellent Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+34%)	4.9% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-76%)	—
Effective Tax Rate (%) (%)	31.0% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-12.1% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	20.4% Good ↓ Good Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	39.6% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	24.2% Fair Fair Actual taxes paid relative to pre-tax income Optimal: 15-25%	22.0% Fair Fair Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	3.1% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-79%)	-18.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-224%)	17.0% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+13%)	7.7% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-49%)	19.1% Good → Good Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+27%)	13.3% Fair ↓ Fair Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-11%)	13.7% Fair ↓ Fair Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-9%)	27.7% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+85%)	24.7% Excellent ↓ Excellent Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+64%)	25.9% Excellent → Excellent Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+73%)	26.9% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+79%)	26.0% Excellent → Excellent Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+74%)	24.0% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+60%)	25.8% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+72%)	24.8% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+65%)	18.0% Good Good Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+20%)	2.9% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-81%)	—
FCF Margin (%) (%)	-0.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	15.3% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	14.4% Fair → Fair Stable Free cash flow as a percentage of revenue Optimal: > 10%	7.2% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	18.2% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	16.5% Good → Good Stable Free cash flow as a percentage of revenue Optimal: > 10%	14.5% Fair ↓ Fair Declining Free cash flow as a percentage of revenue Optimal: > 10%	16.0% Good ↓ Good Declining Free cash flow as a percentage of revenue Optimal: > 10%	19.8% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	17.0% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	20.7% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	11.9% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	7.5% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	19.0% Good → Good Stable Free cash flow as a percentage of revenue Optimal: > 10%	7.2% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	21.2% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	29.3% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	-0.11x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.82x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.85x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.93x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.96x Caution → Caution Stable Free cash flow relative to reported net income Optimal: > 1x	1.24x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	1.05x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	0.58x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.80x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.65x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	0.77x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.46x Weak → Weak Stable Free cash flow relative to reported net income Optimal: > 1x	0.31x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.74x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.29x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.17x Fair Fair Free cash flow relative to reported net income Optimal: > 1x	10.04x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Return on Invested Capital (%)	0.4% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-11.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	7.6% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	4.3% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	10.0% Good ↓ Good Declining Return earned on debt + equity capital invested Optimal: > 10%	5.9% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	7.6% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	18.4% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	21.1% Excellent → Excellent Stable Return earned on debt + equity capital invested Optimal: > 10%	18.0% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	21.2% Excellent → Excellent Stable Return earned on debt + equity capital invested Optimal: > 10%	21.0% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	18.3% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	21.8% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	30.2% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	19.1% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	2.8% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	0.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-9.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	8.6% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	6.2% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	11.6% Good → Good Stable Operating profit relative to total assets Optimal: > 10%	6.8% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	8.6% Fair ↓ Fair Declining Operating profit relative to total assets Optimal: > 10%	20.3% Excellent ↓ Excellent Declining Operating profit relative to total assets Optimal: > 10%	23.3% Excellent → Excellent Stable Operating profit relative to total assets Optimal: > 10%	20.4% Excellent ↓ Excellent Declining Operating profit relative to total assets Optimal: > 10%	23.5% Excellent → Excellent Stable Operating profit relative to total assets Optimal: > 10%	23.4% Excellent → Excellent Stable Operating profit relative to total assets Optimal: > 10%	20.6% Excellent ↓ Excellent Declining Operating profit relative to total assets Optimal: > 10%	23.3% Excellent → Excellent Stable Operating profit relative to total assets Optimal: > 10%	28.9% Excellent Excellent Operating profit relative to total assets Optimal: > 10%	18.2% Excellent Excellent Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	1.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-92%)	-9.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-148%)	9.1% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-51%)	4.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-75%)	10.1% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-45%)	6.2% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-67%)	7.5% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-59%)	18.3% Good → Good Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	17.2% Good ↓ Good Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-7%)	16.7% Good ↓ Good Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-10%)	19.2% Good → Good Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	19.2% Good ↓ Good Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	16.8% Good ↓ Good Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-9%)	19.5% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+6%)	26.6% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+44%)	17.1% Good Good Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-8%)	2.1% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-89%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Debt to Equity (x)	—	—	—	0.01x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-99%)	0.01x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-97%)	0.01x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-97%)	0.02x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-96%)	0.02x Excellent → Excellent Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-95%)	0.02x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-95%)	0.02x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-95%)	0.01x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-97%)	0.02x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-96%)	0.01x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-97%)	0.02x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-96%)	0.04x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-92%)	0.05x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-89%)	—	—
Interest Coverage (x)	57.98x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	-751.82x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	180.66x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	52.74x Excellent ↓ Excellent Declining Operating income divided by interest expense Optimal: > 5x	135.55x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	88.93x Excellent ↓ Excellent Declining Operating income divided by interest expense Optimal: > 5x	87.14x Excellent ↓ Excellent Declining Operating income divided by interest expense Optimal: > 5x	171.50x Excellent Excellent Operating income divided by interest expense Optimal: > 5x	213.36x Excellent Excellent Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—	—	67.68x Excellent Excellent Operating income divided by interest expense Optimal: > 5x	7.23x Good Good Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$-403.79M	$-620.04M	$-514.67M	$-682.18M	$-674.95M	$-838.26M	$-638.36M	$-498.98M	$-864.52M	$-586.22M	$-564.87M	$-502.48M	$-437.44M	$-370.04M	$-164.51M	$-132.22M	$-82.92M	$-51.28M
Debt / EBITDA (x)	—	—	—	0.06x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.07x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.13x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.13x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.08x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.07x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.09x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.05x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.06x Excellent → Excellent Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.05x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.06x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.08x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.15x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue per Share (USD)	$23.70	$22.04	$27.30	$28.16	$27.35	$22.58	$24.77	$27.28	$26.34	$18.96	$17.11	$14.77	$12.57	$11.14	$10.02	$6.45	$4.09	—
Basic EPS, GAAP (USD)	$0.73	$-4.09	$4.64	$2.17	$5.21	$3.00	$3.40	$7.55	$6.50	$4.91	$4.60	$3.85	$3.02	$2.87	$2.48	$1.16	$0.12	—
Free Cash Flow per Share (USD)	$-0.08	$3.37	$3.93	$2.02	$4.99	$3.72	$3.58	$4.35	$5.21	$3.22	$3.54	$1.76	$0.94	$2.12	$0.73	$1.37	$1.20	—
Book Value per Share (USD)	$50.52	$47.58	$52.14	$49.55	$51.81	$48.53	$45.31	$41.66	$37.71	$29.25	$23.82	$19.98	$17.87	$14.47	$9.31	$6.74	$5.64	—
Tangible Book Value per Share (USD)	$47.63	$44.70	$50.75	$48.05	$50.09	$46.59	$42.36	$38.11	$35.71	$28.34	$23.58	$19.80	$17.68	$14.26	$9.18	$6.59	$5.64	—
Basic Weighted Avg Shares (shares)	42.34M	44.34M	47.15M	50.76M	53.41M	53.19M	53.06M	53.52M	53.49M	53.07M	52.68M	52.10M	51.55M	50.48M	47.37M	46.42M	45.49M	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Working Capital (USD)	$1.19B	$1.23B	$1.70B	$1.71B	$2.03B	$1.93B	$1.70B	$1.56B	$1.56B	$1.14B	$960.80M	$771.76M	$686.26M	$539.50M	$340.75M	$218.03M	—	—
LT Debt (USD)	—	—	—	$16.03M	$34.16M	$37.97M	$41.71M	$45.38M	$45.38M	$37.63M	$17.67M	$19.67M	$11.33M	$14.01M	$15.73M	$15.64M	—	—
Total Equity (USD)	$2.13B	$2.02B	$2.42B	$2.39B	$2.75B	$2.59B	$2.40B	$2.21B	$2.02B	$1.56B	$1.26B	$1.05B	$927.97M	$742.93M	$443.32M	$316.60M	$256.43M	—

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Sales/Revenue/Turnover (USD)	$1.00B	$977.13M	$1.29B	$1.43B	$1.46B	$1.20B	$1.31B	$1.46B	$1.41B	$1.01B	$901.26M	$769.83M	$648.03M	$562.53M	$474.48M	$299.26M	$185.89M	—
Depreciation Expense (USD)	$66.85M	$61.44M	$69.62M	$90.56M	$96.33M	$94.55M	$96.27M	$80.27M	$64.57M	$51.48M	$42.41M	$35.61M	$31.52M	$26.14M	$23.96M	$21.84M	$19.17M	—
Net Income, GAAP (USD)	$31.10M	$-181.53M	$218.88M	$109.91M	$278.42M	$159.57M	$180.23M	$404.03M	$347.61M	$260.75M	$242.15M	$200.44M	$155.78M	$145.00M	$117.76M	$53.99M	$5.42M	—
Operating Cash Flow (USD)	$75.34M	$247.90M	$295.99M	$212.65M	$389.70M	$285.33M	$323.52M	$393.30M	$405.39M	$297.70M	$256.57M	$180.10M	$119.37M	$175.28M	$87.35M	$63.43M	$54.41M	—

IPG PHOTONICS CORP

Analytical Summary

18-Year Financial Trajectory

Health Breakdown

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