IPG Photonics Corporation: financial statements
Price
$67.78
November 13, 2026Market cap $2.9B
What Ploutos Investor adds for IPG Photonics
Part of Ploutos Investor, €9.99 a month
- The full history: 17 fiscal years, from 2009
- The estimated fair value, with its range and its certainty
- The full analysis, 18 a month
- More questions to the chat on its filings
- Excel with every year
- An email when it reports, changes its dividend or an officer buys
Sign in with a free account to see the last 5 fiscal years.
Notes on these figures
- Profit over the last twelve months is well above what the business itself earned, because it includes large gains outside the business, such as on investments or from selling a business. The P/E is lower than the business alone would give.
Financial statements
Each fiscal year's income statement, balance sheet and cash flow as the company filed them, and the latest quarters.
Click a line to see it on the chart.
Revenue
-11.7% a year over 2 years
Financial statements
IPGP's revenue, profits and cash flows from 2009 to 2022, 14 more fiscal years
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By segment
Revenue and operating income by business segment or by product, as the company itself reports them in each year's 10-K. Each year from the latest filing that carries it, so a segment renamed or re-cut shows in its current form.
- 2024: High Power Continuous Wave CW Lasers –, Amplifiers Laser Systems Service Parts Accessories $247M, Laser And Non Laser Systems $139M, Other Applications $120M, Pulsed Lasers $147M, Medium And Low Power CW Lasers $64M, Quasi Continuous Wave QCW Lasers $48M
- 2025: High Power Continuous Wave CW Lasers $309M, Amplifiers Laser Systems Service Parts Accessories $265M, Laser And Non Laser Systems $147M, Other Applications $144M, Pulsed Lasers $143M, Medium And Low Power CW Lasers $88M, Quasi Continuous Wave QCW Lasers $52M
By segment
IPGP's revenue by product line from 2013 to 2022, 10 more fiscal years
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The lines do not add up to the company's revenue (more than 15% apart) in 2024: the company broke down only part of the total, or cut its segments differently that year.
Left out: 2023. In those filings two breakdowns were tagged at once (product lines beside regions), so the lines add up to well over the company's revenue.
From the XBRL of 13 of the company's annual reports to the SEC (ASC 280). Amounts in dollars.
Amounts are in dollars as the company filed them in its annual reports (10-K or 20-F). Those reporting in another currency are converted at each fiscal year-end rate. Shares and earnings per share are adjusted for splits.
Debt and obligations
What the company owes beyond the loans on its balance sheet, and when it pays, from the notes to its annual report: debt maturities, leases, pension plans, goodwill by segment, and how it gets to the tax it pays.
Leases
Dec 31, 2025Operating leases
$17M
Finance leases
–
The liability is the present value of the rent still to pay, at December 31, 2025. It is not counted in the ladder's debt. The filing
Goodwill by segment
Dec 31, 2025Total goodwill
$72M
The company does not state its goodwill by segment, at December 31, 2025. The filing
From the statutory to the effective tax rate, 2025
Dec 31, 2025Statutory rate
21.0%
Effective rate
31.0%
The company paid 31.0% in tax on its profit, 10.0 points above the US federal rate (21.0%). Below, the reasons it gives.
The lines the company states do not reach its effective rate, so we do not show them. Both rates are the filing's. The filing
Earnings quality
How the reported earnings were made, read from the filings. A description, not a score: our tests found no link between these measures and later share returns.
Receivables and inventory against sales
In the quarter to Sep 30, 2026, sales were +14.6% on the same quarter a year earlier, and receivables +14.9%. Inventory was +4.3%, against +12.3% for the cost of sales.
- a year earlier 60 days
- 61 days
- a year earlier 194 days
- 180 days
Balances at Sep 30, 2026 and Sep 30, 2025, against the sales and cost of sales of the quarter ending on each date; a fourth quarter is the fiscal year less its first nine months. Same quarter against same quarter, so the season is the same.
Allowance for doubtful accounts
The allowance for receivables that may not be collected was 1.5% of gross receivables at Sep 30, 2026, against 1.5% a year earlier.
At last year's share it would be $40.2K larger. A smaller allowance means a smaller charge for bad debts in profit.
- a year earlier $2.6M
- $2.9M
Taxes: deferred and paid
The deferred part was -97.7% of the tax charge in the year to Dec 31, 2025. The rows show the last 3 years.
Cash taxes paid were 206.0% of the current tax charge in the year to Dec 31, 2025.
- Deferred share, year to Dec 31, 2025-$14M of $14M
- -97.7%
- Deferred share, year to Dec 31, 2024-$26M of $20M
- -130.7%
- Deferred share, year to Dec 31, 2023-$14M of $56M
- -24.6%
- $57M paid, $28M current
- 206.0%
When profit in the accounts runs ahead of taxable profit, the deferred part grows. It also moves for reasons unrelated to how earnings are booked: tax-law changes, the use of past losses, and the US rule since 2022 that spreads research costs over five years. Where the notes report it, the tax-rate bridge under Debt and obligations shows how the rate gets from the statutory one to the effective one.
The earnings per share split is not shown: it needs a profit before tax in both years, since a tax rate on a loss has no meaning as a source.
A reading is called out when it is above the 90th percentile of the same reading across the S&P 500, or, for a fall, below the 10th, as measured on 9 November 2026. Each part uses only the company's own filings.
The full analysis
What do IPG Photonics's filings show?
These are IPG Photonics's figures from its filings. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.
- A fair value range built from the filings
- Earnings quality, debt and red flags
- Insider and institutional moves
- The case for and the case against
How much revenue did IPGP have in 2025?
IPG Photonics had revenue of $1.0B and net income of $31M in fiscal 2025, a net margin of 3.1%.
How much debt does IPGP have?
On December 31, 2025 IPG Photonics had total assets of $2.4B, debt of – and shareholders' equity of $2.1B.
How much free cash flow does IPGP have?
In fiscal 2025 IPG Photonics had cash from operations of $75M and spent $79M on capital expenditure, leaving -$3.5M of free cash flow.
Where are the figures from?
From IPG Photonics Corporation's annual and quarterly reports to the SEC, read from the structured data (XBRL) it files itself.
Related pages
The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.
The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.