IPG Photonics (IPGP)
Market Price (2/7/2026): $110.0 | Market Cap: $4.6 BilSector: Information Technology | Industry: Electronic Manufacturing Services
IPG Photonics (IPGP)
Market Price (2/7/2026): $110.0Market Cap: $4.6 BilSector: Information TechnologyIndustry: Electronic Manufacturing Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -18% | Trading close to highsDist 52W High is 0.0% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 149x, P/EPrice/Earnings or Price/(Net Income) is 180x |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% | Weak multi-year price returns2Y Excs Rtn is -29%, 3Y Excs Rtn is -73% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -13% |
| Low stock price volatilityVol 12M is 47% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.5% | |
| Megatrend and thematic driversMegatrends include Automation & Robotics, and Electric Vehicles & Autonomous Driving. Themes include Factory Automation, Industrial Robotics, Show more. | Key risksIPGP key risks include [1] weak demand in its core industrial markets, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -18% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Low stock price volatilityVol 12M is 47% |
| Megatrend and thematic driversMegatrends include Automation & Robotics, and Electric Vehicles & Autonomous Driving. Themes include Factory Automation, Industrial Robotics, Show more. |
| Trading close to highsDist 52W High is 0.0% |
| Weak multi-year price returns2Y Excs Rtn is -29%, 3Y Excs Rtn is -73% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 149x, P/EPrice/Earnings or Price/(Net Income) is 180x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -13% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.5% |
| Key risksIPGP key risks include [1] weak demand in its core industrial markets, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Strong Q3 2025 Earnings Beat and Positive Q4 Guidance.
IPG Photonics reported adjusted earnings per share of $0.35 for the third quarter of 2025, significantly surpassing the Zacks Consensus Estimate of $0.16 per share by 118.75%. The company's revenue of $251 million also exceeded the forecast of $240.17 million. This positive performance was complemented by Q4 2025 revenue guidance set between $230 million and $260 million and adjusted EPS guidance of $0.05 to $0.35, contributing to increased investor confidence.
2. Significant Analyst Upgrades and Positive Ratings.
Analyst sentiment saw a notable improvement, with Citigroup upgrading IPGP from a "Sell" to a "Buy" rating on November 5, 2025, and raising its price target from $68.00 to $105.00, a substantial 54.41% increase. By February 3, 2026, Roth Capital also raised its price target to $110.00 from $105.00, maintaining a "Buy" rating and further contributing to the stock's upward momentum. The overall consensus rating from analysts shifted to "Strong Buy" during this period.
Show more
Stock Movement Drivers
Fundamental Drivers
The 28.8% change in IPGP stock from 10/31/2025 to 2/6/2026 was primarily driven by a 25.6% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 2062026 | Change |
|---|---|---|---|
| Stock Price ($) | 85.12 | 109.61 | 28.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 946 | 964 | 1.9% |
| P/S Multiple | 3.8 | 4.8 | 25.6% |
| Shares Outstanding (Mil) | 42 | 42 | 0.7% |
| Cumulative Contribution | 28.8% |
Market Drivers
10/31/2025 to 2/6/2026| Return | Correlation | |
|---|---|---|
| IPGP | 28.8% | |
| Market (SPY) | 1.3% | 60.7% |
| Sector (XLK) | -6.1% | 56.7% |
Fundamental Drivers
The 46.4% change in IPGP stock from 7/31/2025 to 2/6/2026 was primarily driven by a 43.4% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2062026 | Change |
|---|---|---|---|
| Stock Price ($) | 74.89 | 109.61 | 46.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 953 | 964 | 1.1% |
| P/S Multiple | 3.3 | 4.8 | 43.4% |
| Shares Outstanding (Mil) | 43 | 42 | 1.0% |
| Cumulative Contribution | 46.4% |
Market Drivers
7/31/2025 to 2/6/2026| Return | Correlation | |
|---|---|---|
| IPGP | 46.4% | |
| Market (SPY) | 9.6% | 58.5% |
| Sector (XLK) | 7.6% | 55.7% |
Fundamental Drivers
The 49.5% change in IPGP stock from 1/31/2025 to 2/6/2026 was primarily driven by a 55.5% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 2062026 | Change |
|---|---|---|---|
| Stock Price ($) | 73.33 | 109.61 | 49.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,042 | 964 | -7.5% |
| P/S Multiple | 3.1 | 4.8 | 55.5% |
| Shares Outstanding (Mil) | 44 | 42 | 3.9% |
| Cumulative Contribution | 49.5% |
Market Drivers
1/31/2025 to 2/6/2026| Return | Correlation | |
|---|---|---|
| IPGP | 49.5% | |
| Market (SPY) | 15.8% | 68.5% |
| Sector (XLK) | 22.9% | 67.2% |
Fundamental Drivers
The -2.2% change in IPGP stock from 1/31/2023 to 2/6/2026 was primarily driven by a -85.5% change in the company's Net Income Margin (%).| (LTM values as of) | 1312023 | 2062026 | Change |
|---|---|---|---|
| Stock Price ($) | 112.10 | 109.61 | -2.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,460 | 964 | -34.0% |
| Net Income Margin (%) | 18.3% | 2.7% | -85.5% |
| P/E Multiple | 21.6 | 180.4 | 735.0% |
| Shares Outstanding (Mil) | 52 | 42 | 22.3% |
| Cumulative Contribution | -2.2% |
Market Drivers
1/31/2023 to 2/6/2026| Return | Correlation | |
|---|---|---|
| IPGP | -2.2% | |
| Market (SPY) | 76.2% | 57.2% |
| Sector (XLK) | 111.8% | 54.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| IPGP Return | -23% | -45% | 15% | -33% | -2% | 39% | -56% |
| Peers Return | 8% | -46% | 21% | 30% | 145% | 25% | 180% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -1% | 81% |
Monthly Win Rates [3] | |||||||
| IPGP Win Rate | 58% | 42% | 50% | 33% | 58% | 100% | |
| Peers Win Rate | 52% | 35% | 48% | 53% | 62% | 70% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| IPGP Max Drawdown | -32% | -52% | -12% | -43% | -32% | 0% | |
| Peers Max Drawdown | -19% | -54% | -21% | -15% | -41% | -5% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: COHR, LITE, MKSI, LASR, NOVT. See IPGP Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/6/2026 (YTD)
How Low Can It Go
| Event | IPGP | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -67.9% | -25.4% |
| % Gain to Breakeven | 211.5% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -31.5% | -33.9% |
| % Gain to Breakeven | 46.0% | 51.3% |
| Time to Breakeven | 35 days | 148 days |
| 2018 Correction | ||
| % Loss | -59.9% | -19.8% |
| % Gain to Breakeven | 149.3% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -75.1% | -56.8% |
| % Gain to Breakeven | 302.2% | 131.3% |
| Time to Breakeven | 623 days | 1,480 days |
Compare to COHR, LITE, MKSI, LASR, NOVT
In The Past
IPG Photonics's stock fell -67.9% during the 2022 Inflation Shock from a high on 1/19/2021. A -67.9% loss requires a 211.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About IPG Photonics (IPGP)
AI Analysis | Feedback
Here are 1-2 brief analogies to describe IPG Photonics:
- The Intel Inside for industrial lasers. IPG Photonics provides the core high-power fiber lasers that are essential components for manufacturing processes like cutting, welding, and marking, much like Intel provides the processors for computers.
- The ASML of fiber lasers. Similar to how ASML creates the highly specialized machines critical for semiconductor manufacturing, IPG Photonics develops and manufactures the essential fiber lasers used in high-precision industrial processes.
AI Analysis | Feedback
- Fiber Lasers: High-power industrial lasers used for materials processing applications such as cutting, welding, drilling, and marking across various industries.
- Beam Delivery Systems: Components and modules that guide, shape, and focus the laser beam from the source to the workpiece.
- Optical Components & Modules: Active and passive components including pump diodes, optical fiber, and specialty optics that are integral to their laser systems or sold separately.
- Medical & Aesthetic Lasers: Specialized laser systems used in surgical, therapeutic, and aesthetic medical procedures.
AI Analysis | Feedback
IPG Photonics (IPGP) Major Customers
IPG Photonics (symbol: IPGP) primarily sells its advanced fiber laser, amplifier, and opto-electronic products to other companies (B2B) across various industries rather than directly to individuals.
Due to the nature of its business as a component and system supplier, and the fact that no single customer accounts for 10% or more of its net sales (as per its SEC filings), IPG Photonics does not publicly disclose the names of its specific major customer companies. Instead, its customer base consists of a broad range of companies operating within several key industries. The major categories of customer companies it serves include:
- Industrial Materials Processing & Manufacturing: This is the largest customer segment. It includes manufacturers and integrators of industrial equipment that utilize lasers for applications such as cutting, welding, drilling, marking, surface treatment, cleaning, and additive manufacturing (3D printing). These customers serve various end-markets including automotive, general manufacturing, electronics, aerospace, and heavy industry.
- Medical & Life Sciences: Companies that develop and produce medical devices incorporating lasers for a variety of applications, including surgical procedures, ophthalmology, dermatology, and diagnostic tools.
- Advanced Applications & Research: This category includes scientific research institutions, universities, government agencies, and companies engaged in high-precision and defense applications, as well as those developing next-generation technologies.
- Communications: While a smaller segment for IPG Photonics, it includes manufacturers of equipment and components for fiber optic communication networks.
In summary, while specific customer company names are not disclosed by IPG Photonics, their products are integral components for equipment manufacturers and integrators within the industrial, medical, and advanced technology sectors globally.
AI Analysis | Feedback
nullAI Analysis | Feedback
```htmlMark M. Gitin, Ph.D. Chief Executive Officer
Dr. Gitin became the Chief Executive Officer of IPG Photonics on June 5, 2024. Before joining IPG, he served as Executive Vice President and General Manager of the Photonics Solutions Division at MKS Instruments, Inc. He joined MKS in September 2017, initially as Vice President and General Manager of the Photonics Business Unit, and later oversaw the Instruments and Motion Business Unit in 2018. From 2019 to 2023, he was Senior Vice President and General Manager of the Photonics Solutions Division, advancing to Executive Vice President in 2023. Prior to MKS, from March 1995 to September 2017, Dr. Gitin held various management positions at Coherent, Inc., including Vice President of Strategic Marketing, Vice President of Business Development, and Vice President and General Manager of the Diodes, Fibers and Systems Business Unit. He possesses over 30 years of experience in the lasers and optics sector and led the integration of the former Newport business following its acquisition by MKS in 2016.
Timothy P.V. Mammen Chief Financial Officer and Senior Vice President
Mr. Mammen has served as IPG's Chief Financial Officer since July 2000 and a Vice President since November 2000, being promoted to Senior Vice President in February 2013. From May 1999 to July 2000, he was the Group Finance Director and General Manager of the United Kingdom operations for IPFD. He previously served as Finance Director and General Manager of United Partners Plc, a commodities trading firm, from 1995 to 1999. Before that, he worked in the finance department of E.I. du Pont de Nemours and Company. Mr. Mammen holds an Upper Second B.Sc. Honours degree in International Trade and Development from the London School of Economics and Political Science and is a Chartered Accountant, a member of the Institute of Chartered Accountants of Scotland. He played a key role in guiding IPG Photonics through a financial crisis in 2003, implementing a plan for executives to forgo salary in exchange for options to conserve cash.
Paulus Bucher, Ph.D. Senior Vice President, Global Operations
Dr. Bucher joined IPG Photonics in June 2025 as Senior Vice President of Global Operations. Prior to his role at IPG, he served as Senior Vice President of Global Operations at Adtran. His earlier career includes senior operations positions at ADVA, CommScope, and Ericsson.
Igor Samartsev, Ph.D. Senior Vice President, Chief Scientist
Dr. Samartsev has served as IPG's Senior Vice President, Chief Scientist since February 2022. He was previously IPG's Chief Technology Officer from 2011 and a member of IPG's Board from February 2006 to January 2021. From 2005 to 2018, he also held the position of Deputy General Manager of IPG's Russian subsidiary, NTO IRE-Polus. Dr. Samartsev holds a Ph.D. in Physics from Imperial College London.
Trevor D. Ness Senior Vice President, Sales and Strategic Business Development
Mr. Ness has served as IPG's Senior Vice President, Sales and Strategic Business Development since February 2022, with operational responsibility for the company's laser systems and medical businesses. Prior to this role, he was IPG's Senior Vice President, Worldwide Sales from February 2013 to February 2022, and Vice President – Asian Operations from January 2011 to February 2013.
AI Analysis | Feedback
Key Risks to IPG Photonics (IPGP)
- Weak Demand in Core Industrial Markets and Adverse Economic Conditions: IPG Photonics faces significant risk from weak demand in its traditional industrial markets, particularly for laser welding and cutting applications, which historically constitute a substantial portion of its revenue. This is further exacerbated by global economic uncertainties and downturns in key geographic markets, including China and Europe, directly impacting sales, operating income, and overall financial performance.
- Intense Market Competition and Declining Average Selling Prices (ASPs): The fiber laser industry is highly competitive, leading to continuous pressure on IPG Photonics from rivals that are increasing output powers and lowering prices, especially in Asia. This competitive landscape contributes to declining average selling prices (ASPs) for the company's products, which in turn pressures gross margins and profitability.
- Geopolitical Uncertainties, Trade Tensions, and Tariffs: IPG Photonics is significantly exposed to global trade challenges, geopolitical uncertainties, and tariff policies. Recent examples include the impact of China tariffs, export restrictions to Russia (resulting in a substantial one-time loss from the divestiture of Russian operations), and new US import tariffs causing shipment delays. These factors can disrupt international operations, increase costs, and negatively affect financial results.
AI Analysis | Feedback
The clear emerging threat to IPG Photonics is the rapid market share gain and intense pricing pressure from Chinese domestic fiber laser manufacturers (e.g., Raycus, Maxphotonics).
These competitors are increasingly capable of producing fiber lasers with comparable performance for many industrial applications at significantly lower prices. This trend has already led to declining average selling prices (ASPs) and market share erosion for IPG Photonics, particularly in the critical Chinese market, which has historically been a major revenue driver for the company. This dynamic mirrors the historical example of how cheaper alternatives can rapidly disrupt incumbent market leaders by offering sufficient quality at a lower cost, putting immense pressure on profitability and market position.
AI Analysis | Feedback
IPG Photonics (symbol: IPGP) operates within several addressable markets for its fiber lasers, amplifiers, and laser systems, which are primarily used in materials processing, advanced technologies, telecommunications, and medical applications. The global addressable markets for these main products and services are identified as follows:
-
Overall Fiber Laser Market: The global fiber laser market was valued between approximately USD 3.0 billion and USD 7.7 billion in 2024. It is projected to reach approximately USD 12.8 billion by 2034 or 2035, growing at a Compound Annual Growth Rate (CAGR) ranging from 10.8% to 12.2% during the forecast period.
-
Materials Processing: The global market for laser systems for materials processing was valued at USD 23.5 billion in 2023. The material processing laser processing market size was valued at USD 17.21 billion in 2024 and is estimated to grow at a CAGR of 10.3% from 2024 to 2030. This includes industrial applications such as cutting, welding, marking, cleaning, drilling, and additive manufacturing.
-
Medical Applications: The global medical laser market is projected to reach USD 17.3 billion by 2031, growing at a CAGR of 17.6% from 2024 to 2031. Specifically, the global medical laser fiber market is projected to reach USD 1.09 billion in 2025 and is expected to grow to USD 3.62 billion by 2034, with a CAGR of 16.12% from 2025 to 2034.
-
Telecommunications: The global laser communication market was valued at approximately USD 958.10 million in 2024 and is projected to reach USD 6,737.60 million by 2033, demonstrating a CAGR of 24.20% from 2025 to 2033. A sub-segment, the global satellite laser communication market, was valued at USD 933.7 million in 2024 and is estimated to grow at a CAGR of 45.4% to reach USD 36.4 billion by 2034. Fiber lasers are crucial for high-speed data transmission in this sector.
-
Advanced Applications (including Aerospace & Defense, Sensors and Instruments, R&D and Scientific): IPG Photonics estimates a Total Addressable Market (TAM) of USD 10 billion for industrial and non-industrial applications, which encompasses these categories. The instruments and sensors segment of the fiber laser market is anticipated to exhibit a high CAGR of 15.95% during the forecast period.
AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for IPG Photonics (IPGP) over the next 2-3 years:
- Growth in Advanced Applications and New Markets: IPG Photonics is strategically expanding into high-growth areas beyond traditional industrial markets. This includes significant focus on the medical sector, with the upcoming shipments of its next-generation thulium medical laser systems following FDA clearance. Additionally, the company is targeting the defense and mission-critical applications market, highlighted by the opening of its IPG Defense unit and the showcasing of its CROSSBOW scalable laser defense system. Growth in semiconductor markets within advanced applications is also contributing.
- Increased Adoption in Materials Processing: The company anticipates continued revenue growth from its core materials processing segment, specifically in areas such as welding (driven by demand in battery production for e-mobility and stationary storage), additive manufacturing, and micromachining. The acquisition of Clean Laser is also expected to bolster revenue from cleaning applications.
- Geographic Expansion and Market Penetration: IPG Photonics is experiencing and anticipating growth in key geographic regions. Sales in Asia and North America have shown year-over-year increases, with Asia benefiting from higher welding sales in China, Japan, and Korea. The company aims to leverage its market leadership to convert more applications to its laser-based solutions globally.
- Innovation and New Product Launches: Ongoing investments in innovation and the launch of new products are crucial for future revenue. IPG Photonics is continuously introducing new and innovative fiber laser solutions, such as the LDD-1000-DS for real-time deep weld quality sensing and integrated On-the-Fly welding solutions. These new technologies enhance the company's offerings and provide cost-effective, environmentally sustainable alternatives to traditional industrial processes.
AI Analysis | Feedback
Here is a summary of IPG Photonics' capital allocation decisions over the last 3-5 years:Share Repurchases
- IPG Photonics repurchased $343.8 million of its common stock under a February 2024 authorization for up to $300 million.
- The company executed share repurchases of $57 million in Q4 2024, $74 million in Q3 2024, and $122 million in Q2 2024.
- In 2023, IPG Photonics repurchased $223.5 million of treasury stock. The company also repurchased $64 million in Q4 2023 and $90 million in Q1 2024.
Share Issuance
- As of December 31, 2024, IPG Photonics had 42,548,561 shares issued and outstanding, compared to 46,320,671 shares at December 31, 2023.
- Proceeds from the issuance of common stock under employee stock option and purchase plans (less payments for taxes related to net share settlement of equity awards) were $1.87 million for the nine months ended September 30, 2024.
- In May 2025, shareholders approved the 2025 Incentive Compensation Plan, which provides for the issuance of 2,100,000 newly authorized shares for stock-based and non-stock awards to employees, non-employee directors, and independent contractors.
Outbound Investments
- In December 2024, IPG Photonics completed the acquisition of Clean-Lasersysteme GmbH (cleanLASER), a leader in laser cleaning systems, to strengthen its position in high-precision laser systems for cleaning applications.
- The company completed the sale of its Russian subsidiary, Scientific and Technical Association 'IRE-Polus', for $51.1 million in 2024, resulting in a significant loss due to the divestiture.
- IPG Photonics also strategically expanded its manufacturing operations in Germany, the United States, and Italy, and added capacity in Poland to offset the impact of ceasing operations in Russia and Belarus due to geopolitical tensions.
Capital Expenditures
- IPG Photonics' capital expenditures were $87.7 million in 2020, $123.1 million in 2021, $110.1 million in 2022, and $110.5 million in 2023.
- The company's capital expenditures were $23 million in Q4 2024, $23 million in Q3 2024, $24 million in Q2 2024, and $28 million in Q1 2024.
- For 2025, IPG Photonics plans to invest approximately $105 million to $115 million in capital expenditures, focusing on replacing capacity in Russia, increasing redundant capacity for critical components, and upgrading equipment at other facilities.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| IPG Photonics Earnings Notes | 12/29/2026 | |
| How Low Can IPG Photonics Stock Really Go? | 10/17/2025 | |
| How Does IPG Photonics Stock Stack Up Against Its Peers? | 08/13/2025 | |
| IPGP Dip Buy Analysis | 07/10/2025 | |
| IPG Photonics Total Shareholder Return (TSR): -33.0% in 2024 and ...% 3-yr compounded annual returns (below peer average) | 03/07/2025 | |
| IPG Photonics (IPGP) Operating Cash Flow Comparison | 02/17/2025 | |
| IPG Photonics (IPGP) Net Income Comparison | 02/15/2025 | |
| ARTICLES | ||
| Demand Revival Could Drive IPG Photonics Stock To $260 | 05/28/2021 | |
| Up 2x Since March, Is It Time To Exit IPG Photonics Stock? | 12/11/2020 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 184.57 |
| Mkt Cap | 10.7 |
| Rev LTM | 1,534 |
| Op Inc LTM | 75 |
| FCF LTM | 13 |
| FCF 3Y Avg | 109 |
| CFO LTM | 184 |
| CFO 3Y Avg | 172 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.1% |
| Rev Chg 3Y Avg | 5.5% |
| Rev Chg Q | 13.9% |
| QoQ Delta Rev Chg LTM | 3.3% |
| Op Mgn LTM | 6.9% |
| Op Mgn 3Y Avg | 6.4% |
| QoQ Delta Op Mgn LTM | 2.1% |
| CFO/Rev LTM | 11.9% |
| CFO/Rev 3Y Avg | 11.9% |
| FCF/Rev LTM | 1.2% |
| FCF/Rev 3Y Avg | 6.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 10.7 |
| P/S | 5.7 |
| P/EBIT | 56.1 |
| P/E | 113.2 |
| P/CFO | 41.0 |
| Total Yield | 0.7% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 1.9% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 34.4% |
| 3M Rtn | 48.5% |
| 6M Rtn | 96.4% |
| 12M Rtn | 122.8% |
| 3Y Rtn | 216.3% |
| 1M Excs Rtn | 34.2% |
| 3M Excs Rtn | 63.7% |
| 6M Excs Rtn | 114.1% |
| 12M Excs Rtn | 121.8% |
| 3Y Excs Rtn | 140.5% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| High Power Continuous Wave (CW) Lasers | 525 | 614 | 687 | 646 | 735 |
| Other Revenue including Other Lasers, Amplifiers, Service, Parts, Accessories and Change in | 295 | 284 | 265 | 201 | 187 |
| Pulsed Lasers | 186 | 251 | 241 | 158 | 138 |
| Laser and Non-Laser Systems | 161 | 153 | 127 | 94 | 142 |
| Medium Power Continuous Wave (CW) Lasers | 72 | 77 | 81 | 51 | 57 |
| Quasi-Continuous Wave (QCW) Lasers | 49 | 50 | 61 | 50 | 56 |
| Total | 1,287 | 1,430 | 1,461 | 1,201 | 1,315 |
Price Behavior
| Market Price | $109.61 | |
| Market Cap ($ Bil) | 4.6 | |
| First Trading Date | 12/13/2006 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $82.00 | $76.99 |
| DMA Trend | up | indeterminate |
| Distance from DMA | 33.7% | 42.4% |
| 3M | 1YR | |
| Volatility | 45.4% | 47.2% |
| Downside Capture | 158.39 | 153.57 |
| Upside Capture | 252.32 | 177.12 |
| Correlation (SPY) | 56.3% | 68.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.05 | 2.87 | 2.23 | 2.16 | 1.65 | 1.51 |
| Up Beta | 5.06 | 4.18 | 1.63 | 1.86 | 1.63 | 1.42 |
| Down Beta | 2.13 | 3.20 | 2.70 | 2.82 | 1.64 | 1.56 |
| Up Capture | 616% | 332% | 262% | 237% | 253% | 263% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 14 | 24 | 33 | 69 | 136 | 392 |
| Down Capture | 71% | 168% | 187% | 174% | 134% | 111% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 6 | 17 | 28 | 56 | 114 | 359 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IPGP | |
|---|---|---|---|---|
| IPGP | 57.5% | 47.1% | 1.11 | - |
| Sector ETF (XLK) | 21.2% | 27.4% | 0.68 | 67.1% |
| Equity (SPY) | 15.4% | 19.4% | 0.61 | 68.4% |
| Gold (GLD) | 73.9% | 24.8% | 2.19 | 6.2% |
| Commodities (DBC) | 8.9% | 16.6% | 0.34 | 25.5% |
| Real Estate (VNQ) | 4.6% | 16.5% | 0.10 | 50.0% |
| Bitcoin (BTCUSD) | -33.5% | 42.9% | -0.83 | 33.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IPGP | |
|---|---|---|---|---|
| IPGP | -13.3% | 41.0% | -0.22 | - |
| Sector ETF (XLK) | 17.3% | 24.7% | 0.63 | 57.5% |
| Equity (SPY) | 14.4% | 17.0% | 0.68 | 57.2% |
| Gold (GLD) | 21.4% | 16.9% | 1.03 | 9.7% |
| Commodities (DBC) | 11.5% | 18.9% | 0.49 | 10.4% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 40.7% |
| Bitcoin (BTCUSD) | 13.9% | 57.8% | 0.46 | 24.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IPGP | |
|---|---|---|---|---|
| IPGP | 3.4% | 41.8% | 0.23 | - |
| Sector ETF (XLK) | 22.6% | 24.2% | 0.85 | 55.9% |
| Equity (SPY) | 15.4% | 17.9% | 0.74 | 54.5% |
| Gold (GLD) | 15.7% | 15.5% | 0.84 | 3.4% |
| Commodities (DBC) | 8.0% | 17.6% | 0.37 | 17.8% |
| Real Estate (VNQ) | 6.0% | 20.7% | 0.25 | 33.7% |
| Bitcoin (BTCUSD) | 67.1% | 66.6% | 1.07 | 13.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/4/2025 | -2.2% | 0.8% | -3.5% |
| 8/5/2025 | -3.7% | -2.6% | 4.7% |
| 5/6/2025 | -13.0% | 2.7% | 8.1% |
| 2/11/2025 | -5.5% | -5.1% | -11.4% |
| 10/29/2024 | 7.3% | 1.6% | -2.7% |
| 7/30/2024 | -7.3% | -23.0% | -21.1% |
| 4/30/2024 | -5.2% | -0.2% | -5.7% |
| 2/13/2024 | -16.1% | -16.7% | -13.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 8 |
| # Negative | 15 | 14 | 16 |
| Median Positive | 7.3% | 3.5% | 7.2% |
| Median Negative | -6.2% | -8.4% | -12.6% |
| Max Positive | 21.0% | 29.1% | 36.8% |
| Max Negative | -18.3% | -23.0% | -23.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 10/29/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/22/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Scherbakov, Eugene A | Direct | Sell | 12292025 | 74.44 | 2,700 | 200,986 | 4,617,472 | Form | |
| 2 | Ip, Fibre Devices Ltd | Direct | Sell | 12292025 | 75.43 | 22,937 | 1,730,163 | 505,280,082 | Form | |
| 3 | Ip, Fibre Devices Ltd | Direct | Sell | 12292025 | 74.62 | 28,445 | 2,122,581 | 497,727,993 | Form | |
| 4 | Ip, Fibre Devices Ltd | Direct | Sell | 12292025 | 74.76 | 12,785 | 955,846 | 497,723,034 | Form | |
| 5 | Valentin, Gapontsev Trust I | Direct | Sell | 12162025 | 77.63 | 39,384 | 3,057,380 | 534,615,685 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.