Tearsheet
IPGP Home Investment Highlights Valuation, Metrics & Events Price Chart Why The Stock Moved Return vs. Risk About IPGP Interactive Breakdown Better Bets vs. IPGP Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Trade Sentinel Industry Resource Links External Quote Links

IPG Photonics (IPGP)

Market Price (5/12/2026): $103.49 | Market Cap: $4.4 Bil
Sector: Information Technology | Industry: Semiconductor Materials & Equipment

IPG Photonics (IPGP)

Market Price (5/12/2026): $103.49
Market Cap: $4.4 Bil
Sector: Information Technology
Industry: Semiconductor Materials & Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -18%

Megatrend and thematic drivers
Megatrends include Automation & Robotics, and Electric Vehicles & Autonomous Driving. Themes include Factory Automation, Industrial Robotics, Show more.

Weak multi-year price returns
2Y Excs Rtn is -26%, 3Y Excs Rtn is -94%

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 179x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 77x, P/EPrice/Earnings or Price/(Net Income) is 151x

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -8.7%

Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.3%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.7%

Key risks
IPGP key risks include [1] weak demand in its core industrial markets, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -18%
1 Megatrend and thematic drivers
Megatrends include Automation & Robotics, and Electric Vehicles & Autonomous Driving. Themes include Factory Automation, Industrial Robotics, Show more.
2 Weak multi-year price returns
2Y Excs Rtn is -26%, 3Y Excs Rtn is -94%
3 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 179x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 77x, P/EPrice/Earnings or Price/(Net Income) is 151x
4 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -8.7%
5 Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.3%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.7%
7 Key risks
IPGP key risks include [1] weak demand in its core industrial markets, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

IPG Photonics (IPGP) stock has gained about 10% since 1/31/2026 because of the following key factors:

1. IPG Photonics exceeded Q4 2025 earnings expectations and initiated a share repurchase program.

On February 12, 2026, IPG Photonics reported fourth-quarter 2025 revenue of $274.5 million, a 17% year-over-year increase, surpassing analyst estimates. Adjusted earnings per diluted share reached $0.46, significantly beating the consensus estimate of $0.20. Concurrently, the company announced a new share repurchase program, authorizing the buyback of up to $100 million of its common stock.

2. The company demonstrated sustained growth in its Industrial Solutions segment and emerging growth products.

IPG Photonics reported continued strong demand across its Industrial Solutions, with sales increasing 21% year-over-year in the first quarter of 2026, driven by applications in welding, cutting, marking, and cleaning. Emerging growth products consistently accounted for a significant portion of total revenue, reaching 54% in Q4 2025 and 53% in Q1 2026, indicating successful diversification and market penetration.

Show more
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →

Stock Movement Drivers

Fundamental Drivers

The 12.0% change in IPGP stock from 1/31/2026 to 5/11/2026 was primarily driven by a 8.1% change in the company's Total Revenues ($ Mil).
(LTM values as of)13120265112026Change
Stock Price ($)92.41103.4812.0%
Change Contribution By: 
Total Revenues ($ Mil)9641,0418.1%
Net Income Margin (%)2.7%2.8%4.4%
P/E Multiple152.1151.1-0.6%
Shares Outstanding (Mil)4242-0.1%
Cumulative Contribution12.0%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/11/2026
ReturnCorrelation
IPGP12.0% 
Market (SPY)3.6%16.6%
Sector (XLK)23.8%11.8%

Fundamental Drivers

The 21.6% change in IPGP stock from 10/31/2025 to 5/11/2026 was primarily driven by a 10.1% change in the company's Total Revenues ($ Mil).
(LTM values as of)103120255112026Change
Stock Price ($)85.12103.4821.6%
Change Contribution By: 
Total Revenues ($ Mil)9461,04110.1%
P/S Multiple3.84.29.8%
Shares Outstanding (Mil)42420.6%
Cumulative Contribution21.6%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/11/2026
ReturnCorrelation
IPGP21.6% 
Market (SPY)5.5%26.8%
Sector (XLK)18.6%20.8%

Fundamental Drivers

The 72.8% change in IPGP stock from 4/30/2025 to 5/11/2026 was primarily driven by a 60.6% change in the company's P/S Multiple.
(LTM values as of)43020255112026Change
Stock Price ($)59.89103.4872.8%
Change Contribution By: 
Total Revenues ($ Mil)9771,0416.6%
P/S Multiple2.64.260.6%
Shares Outstanding (Mil)43420.9%
Cumulative Contribution72.8%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/11/2026
ReturnCorrelation
IPGP72.8% 
Market (SPY)30.4%37.1%
Sector (XLK)70.4%29.8%

Fundamental Drivers

The -10.0% change in IPGP stock from 4/30/2023 to 5/11/2026 was primarily driven by a -63.9% change in the company's Net Income Margin (%).
(LTM values as of)43020235112026Change
Stock Price ($)114.98103.48-10.0%
Change Contribution By: 
Total Revenues ($ Mil)1,4301,041-27.1%
Net Income Margin (%)7.7%2.8%-63.9%
P/E Multiple50.9151.1196.7%
Shares Outstanding (Mil)494215.3%
Cumulative Contribution-10.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/11/2026
ReturnCorrelation
IPGP-10.0% 
Market (SPY)78.7%48.5%
Sector (XLK)140.8%42.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
IPGP Return-23%-45%15%-33%-2%46%-53%
Peers Return8%-46%21%30%145%87%318%
S&P 500 Return27%-19%24%23%16%8%97%

Monthly Win Rates [3]
IPGP Win Rate58%42%50%33%58%60% 
Peers Win Rate52%35%48%53%62%84% 
S&P 500 Win Rate75%42%67%75%67%60% 

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%-7% 

[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 5/11/2026 (YTD)

How Low Can It Go

EventIPGPS&P 500
2025 US Tariff Shock
  % Loss-23.4%-18.8%
  % Gain to Breakeven30.5%23.1%
  Time to Breakeven35 days79 days
2024 Yen Carry Trade Unwind
  % Loss-23.7%-7.8%
  % Gain to Breakeven31.0%8.5%
  Time to Breakeven420 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-34.6%-9.5%
  % Gain to Breakeven52.9%10.5%
  Time to Breakeven836 days24 days
2020 COVID-19 Crash
  % Loss-28.6%-33.7%
  % Gain to Breakeven40.1%50.9%
  Time to Breakeven32 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-32.9%-19.2%
  % Gain to Breakeven49.0%23.7%
  Time to Breakeven63 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-21.4%-12.2%
  % Gain to Breakeven27.2%13.9%
  Time to Breakeven64 days62 days

Compare to COHR, LITE, MKSI, LASR, NOVT

In The Past

IPG Photonics's stock fell -23.4% during the 2025 US Tariff Shock. Such a loss loss requires a 30.5% 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.

EventIPGPS&P 500
2025 US Tariff Shock
  % Loss-23.4%-18.8%
  % Gain to Breakeven30.5%23.1%
  Time to Breakeven35 days79 days
2024 Yen Carry Trade Unwind
  % Loss-23.7%-7.8%
  % Gain to Breakeven31.0%8.5%
  Time to Breakeven420 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-34.6%-9.5%
  % Gain to Breakeven52.9%10.5%
  Time to Breakeven836 days24 days
2020 COVID-19 Crash
  % Loss-28.6%-33.7%
  % Gain to Breakeven40.1%50.9%
  Time to Breakeven32 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-32.9%-19.2%
  % Gain to Breakeven49.0%23.7%
  Time to Breakeven63 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-21.4%-12.2%
  % Gain to Breakeven27.2%13.9%
  Time to Breakeven64 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-38.1%-17.9%
  % Gain to Breakeven61.5%21.8%
  Time to Breakeven455 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-21.9%-15.4%
  % Gain to Breakeven28.0%18.2%
  Time to Breakeven28 days125 days
2008-2009 Global Financial Crisis
  % Loss-66.9%-53.4%
  % Gain to Breakeven202.1%114.4%
  Time to Breakeven514 days1085 days

Compare to COHR, LITE, MKSI, LASR, NOVT

In The Past

IPG Photonics's stock fell -23.4% during the 2025 US Tariff Shock. Such a loss loss requires a 30.5% 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)

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.

AI Analysis | Feedback

Analogies:

  • Intel for high-power lasers
  • Qualcomm for industrial photonics

AI Analysis | Feedback

  • Fiber Lasers: Develops and sells various high-performance fiber lasers, including hybrid, pulsed, multi-wavelength, tunable, single-polarization, and single-frequency types, primarily for materials processing.
  • Fiber Amplifiers: Manufactures fiber amplifiers, such as erbium-doped, Raman, ytterbium, and thulium specialty amplifiers, used in communications and other advanced applications.
  • Diode Lasers & Systems: Provides diode lasers, including fiber pigtailed packaged diodes and fiber-coupled direct diode laser systems.
  • Integrated Laser Systems: Offers integrated laser systems and tools like 2D flat sheet cutters, multi-axis systems, welding seam steppers/pickers, and high-precision laser systems.
  • Laser Components & Accessories: Supplies optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories that complement their laser products.
  • Optical Transceiver & Transponder Modules: Manufactures optical transceiver and transponder modules for interconnecting electronic equipment in telecommunications, cable, and data center networks.

AI Analysis | Feedback

Major Customers of IPG Photonics (IPGP)

Based on the provided company description, IPG Photonics primarily sells its high-performance fiber lasers, fiber amplifiers, and diode lasers to other businesses rather than individuals. While specific customer company names are not listed in the background information, the company markets its products to the following major categories of business customers:

  • Original Equipment Manufacturers (OEMs): Companies that integrate IPG Photonics' laser products and components into their own finished goods or machinery.
  • System Integrators: Businesses that combine IPG Photonics' products with other hardware and software to create complete, specialized laser systems or solutions for various industrial and advanced applications.
  • End Users: Companies that directly utilize IPG Photonics' laser technology in their own operations across diverse sectors, including materials processing (e.g., cutting, welding, marking), communications (e.g., broadband networks, data center networking), and medical and advanced applications.

AI Analysis | Feedback

null

AI Analysis | Feedback

Mark M. Gitin, Ph.D. Chief Executive Officer and Director

Dr. Gitin became the Chief Executive Officer of IPG and a member of IPG's Board of Directors on June 5, 2024. Prior to IPG, he served as Executive Vice President and General Manager, Photonics Solutions Division of MKS Instruments, Inc. Dr. Gitin joined MKS in September 2017 as Vice President and General Manager of the Photonics Business Unit, later taking responsibility for the Instruments and Motion Business Unit. From March 1995 to September 2017, he 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.

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. Between May 1999 and July 2000, he served as the Group Finance Director and General Manager of the United Kingdom operations for IPFD, an early version of IPG. From 1995 to 1999, Mr. Mammen was Finance Director and General Manager of United Partners Plc, a commodity trading firm. He previously worked in the finance department of E.I. du Pont de Nemours and Company.

Igor Samartsev, Ph.D. Senior Vice President, Chief Scientist

Dr. Samartsev has served as IPG's Senior Vice President, Chief Scientist since February 2022, and as Chief Technology Officer since 2011. He was a member of IPG's Board from February 2006 to January 2021. From 2005 to 2018, he also served as the Deputy General Manager of IPG's Russian subsidiary, NTO IRE-Polus. Dr. Samartsev co-founded IPG in 1990 with Valentin P. Gapontsev.

Eugene Scherbakov, Ph.D. Director

Dr. Scherbakov served as the Chief Executive Officer of IPG Photonics from May 2021 to June 2024. He has been a director since September 2000. He previously served as Chief Operating Officer from February 2017, Managing Director of IPG Laser GmbH (IPG's German subsidiary) since August 2000, and Senior Vice President-Europe since February 2013. Dr. Scherbakov controls approximately 33% of the common stock as managing director of IP Fibre Devices, an early version of the company, giving him significant influence in the publicly traded company.

Dr. Alexander (Alex) Schoenfelder Senior Vice President, Global Laser Components

Dr. Schoenfelder joined IPG in June 2025 as Senior Vice President, Global Laser Components. Prior to IPG, he held senior leadership roles, including General Manager positions across multiple laser and photonics business units, at Lumentum, JDSU, and SDL. Most recently, he served as Senior Vice President at Lumentum, where he led global teams focused on commercial laser systems, integrated photonics, and passive optical products.

AI Analysis | Feedback

Here are the key risks to IPG Photonics' business:

  1. Geopolitical Trade Friction and Economic Conditions: IPG Photonics is highly exposed to changes in the global trade environment, including trade controls, tariffs, and general economic uncertainty, particularly in China, a major market for the company. For example, tariffs can directly impact the company's gross margins and revenue guidance. The divestiture of Russian operations in 2024 due to geopolitical volatility also underscores this risk.
  2. Intense Market Competition and Declining Average Selling Prices: The fiber laser industry in which IPG Photonics operates is intensely competitive, characterized by significant price and technological competition from both larger and smaller rivals. This competitive pressure often leads to declining average selling prices (ASPs), which in turn negatively impacts the company's gross margins even when demand for its products is stable.
  3. Concentration in Cyclical Materials Processing Markets and Operational Risks: A substantial portion of IPG Photonics' revenue, approximately 85.7% in 2025, is derived from the materials processing segment. A downturn in core applications within this market, such as cutting and welding, poses a significant risk. Additionally, the company faces operational risks related to its vertically integrated model, including the potential for lower-than-expected manufacturing yields, high inventory levels, and reliance on single or limited-source suppliers for key components. The high-fixed-cost structure associated with vertical integration also presents an ongoing operational challenge.

AI Analysis | Feedback

null

AI Analysis | Feedback

IPG Photonics (IPGP) operates in several significant global markets related to its fiber lasers, fiber amplifiers, diode lasers, integrated laser systems, and optical transceiver and transponder modules.

Fiber Lasers

The global fiber laser market was valued at approximately USD 4.63 billion in 2025 and is projected to grow to USD 13.08 billion by 2034, exhibiting a compound annual growth rate (CAGR) of 12.3% during the forecast period. Another estimate places the market at USD 5.1 billion in 2026, with a projection to reach USD 15.1 billion by 2036 at a CAGR of 11.5%.

Diode Lasers

The global laser diode market was estimated at USD 9.15 billion in 2024 and is predicted to attain around USD 25.84 billion by 2034, with a CAGR of 10.94% from 2025 to 2034. Another report valued the market at USD 7.28 billion in 2025 and expects it to reach USD 25.64 billion by 2035, growing at a CAGR of 13.42% from 2026-2035.

Fiber Amplifiers

The global optical amplifier market, which includes fiber amplifiers, was valued at USD 916.4 million in 2021 and is projected to reach USD 1.8 billion by 2031, growing at a CAGR of 6.9%. The fiber amplifier segment dominated this market in 2021.

Integrated Laser Systems (for Materials Processing)

The global market for industrial laser systems was valued at USD 23.64 billion in 2024 and is projected to grow to USD 48.05 billion by 2033, growing at a CAGR of 8.20%. Another source estimates the global laser processing equipment market size was valued at USD 28.51 billion in 2025 and is projected to grow to USD 88.83 billion by 2034, exhibiting a CAGR of 14%. The global market for laser systems for materials processing reached approximately USD 23.5 billion in 2023.

Optical Transceiver and Transponder Modules

The global optical transceiver market was valued at USD 13.6 billion in 2024 and is projected to grow to USD 25.0 billion by 2029, at a CAGR of 13.0%. Other estimates place the market size at USD 14.7 billion in 2025, projected to reach USD 46.12 billion by 2034 with a CAGR of 17.00%. The market size is also projected to reach USD 29.26 billion by 2031, reflecting a 13.67% CAGR.

AI Analysis | Feedback

IPG Photonics (NASDAQ: IPGP) is expected to drive future revenue growth over the next two to three years through several key initiatives and market trends: * **Growth in Emerging Applications and Products**: IPG Photonics is experiencing significant growth in its emerging product lines, which constituted 54% of total sales in Q4 2025. This growth is particularly notable in handheld welding, medical, beam delivery, cleaning, and 3D printing applications. The company is actively diversifying its revenue streams away from traditional cutting applications by expanding into these higher-growth areas. * **Expansion into New Markets and Use Cases**: The company is strategically expanding its fiber laser technology into new high-potential markets. This includes electric vehicle (EV) battery welding, micromachining, and defense segments. These new applications represent opportunities to displace legacy technologies with more efficient and environmentally beneficial fiber laser solutions. * **Technological Innovation and New Product Development**: IPG Photonics continues to invest in its research and development pipeline to introduce differentiated and innovative products. Recent successes include the launch of an 8-kilowatt single-mode laser and a breakthrough in ultraviolet spectrum technology with a compact 148-nanometer vacuum ultraviolet laser. These advancements aim to extend the company's industry leadership and enable entry into new application spaces, further driving revenue growth. * **Targeted Geographic Market Recovery and Demand Stabilization**: While some regions have faced challenges, there are signs of stabilization and growth in key geographic markets. North America demonstrated strong sequential and year-over-year growth in Q4 2025, particularly in cutting, cleaning, medical, and advanced applications. Asia, especially China, also showed improving trends with increased welding sales driven by strong demand in battery applications.

AI Analysis | Feedback

Share Repurchases

  • In February 2026, IPG Photonics authorized a new share repurchase program of up to $100 million of its common stock.
  • The company completed a prior share repurchase program, under which approximately $300.23 million of shares were repurchased by February 2026.
  • In 2024, IPG Photonics repurchased $343.8 million of its own shares under an authorization that allowed for purchases of up to $300 million of common stock.

Share Issuance

  • On May 20, 2025, shareholders approved the 2025 Incentive Compensation Plan, authorizing the issuance of 2,100,000 shares for employee awards.

Outbound Investments

  • In October 2024, IPG Photonics acquired Clean-Lasersysteme GmbH (cleanLASER), a developer of laser cleaning systems, for approximately $75 million.

Capital Expenditures

  • IPG Photonics' capital expenditures were $78.8 million in 2025, $98.5 million in 2024, and $110.5 million in 2023.
  • For 2025, the company had planned to invest approximately $105 million to $115 million in capital expenditures, with a focus on replacing capacity in Russia, increasing redundant capacity for critical components, and upgrading equipment at other facilities.
  • These investments primarily relate to the expansion of manufacturing capacity, and to a lesser extent, research and development and sales-related facilities.

Better Bets vs. IPG Photonics (IPGP)

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1IPG Photonics Stock Falls 12% In A Single Week, Now Is Not The Time To Buy The Stock03/11/2026
2Is IPG Photonics Stock Built to Withstand a Pullback?02/25/2026
3IPG Photonics Stock (+35%): Earnings Surprise Ignites Massive Short Squeeze02/13/2026
4IPG Photonics Earnings Notes12/29/2026
5How Does IPG Photonics Stock Stack Up Against Its Peers?08/13/2025
6IPGP Dip Buy Analysis07/10/2025
7IPG Photonics Total Shareholder Return (TSR): -33.0% in 2024 and ...% 3-yr compounded annual returns (below peer average)03/07/2025
8ARTICLES 
9IPG Photonics Stock To $84?03/11/2026
10IPG Photonics Stock Jump Looks Great, But How Secure Is That Gain?02/25/2026
11IPG Photonics Stock (+35%): Earnings Beat & Diversification Ignites Squeeze02/13/2026
12Demand Revival Could Drive IPG Photonics Stock To $26005/28/2021
13Up 2x Since March, Is It Time To Exit IPG Photonics Stock?12/11/2020

Trade Ideas

Select ideas related to IPGP.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
PLTR_4302026_Monopoly_xInd_xCD_Getting_Cheaper04302026PLTRPalantir TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		0.0%0.0%0.0%
ADSK_4102026_Dip_Buyer_FCFYield04102026ADSKAutodeskDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		8.5%8.5%0.0%
BSY_4102026_Dip_Buyer_FCFYield04102026BSYBentley SystemsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		4.2%4.2%0.0%
ENPH_4102026_Dip_Buyer_ValueBuy04102026ENPHEnphase EnergyDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		5.7%5.7%0.0%
BL_4102026_Dip_Buyer_High_CFO_Margins_ExInd_DE04102026BLBlackLineDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		3.2%3.2%-3.0%
IPGP_2292024_Dip_Buyer_ValueBuy02292024IPGPIPG PhotonicsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-19.9%-32.6%-33.0%
IPGP_12312022_Dip_Buyer_ValueBuy12312022IPGPIPG PhotonicsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		43.5%14.7%-11.6%

Recent Active Movers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Peers to compare with:

Financials

IPGPCOHRLITEMKSILASRNOVTMedian
NameIPG Phot.Coherent Lumentum MKS nLight Novanta  
Mkt Price103.48379.691,053.09319.7184.95139.98229.84
Mkt Cap4.472.275.321.54.65.413.5
Rev LTM1,0416,6022,4884,0722909811,765
Op Inc LTM24742251593-15117184
FCF LTM-14-538114402224835
FCF 3Y Avg102-19-3338259751
CFO LTM561404525573164102
CFO 3Y Avg19245719650313114194

Growth & Margins

IPGPCOHRLITEMKSILASRNOVTMedian
NameIPG Phot.Coherent Lumentum MKS nLight Novanta  
Rev Chg LTM9.3%18.0%69.0%11.5%40.9%3.3%14.7%
Rev Chg 3Y Avg-8.7%11.5%16.9%4.3%10.0%4.5%7.2%
Rev Chg Q16.6%20.5%90.1%15.2%55.2%8.5%18.5%
QoQ Delta Rev Chg LTM3.8%4.9%18.2%3.6%10.9%2.1%4.3%
Op Inc Chg LTM417.1%58.8%187.9%11.0%73.3%-6.1%66.1%
Op Inc Chg 3Y Avg99.8%1,555.0%-485.7%5.7%21.2%3.1%13.4%
Op Mgn LTM2.3%11.2%10.1%14.6%-5.2%11.9%10.7%
Op Mgn 3Y Avg5.8%6.6%-10.5%14.1%-19.6%13.0%6.2%
QoQ Delta Op Mgn LTM0.0%0.7%9.6%0.2%4.1%-0.5%0.5%
CFO/Rev LTM5.4%2.1%18.2%13.7%10.7%6.5%8.6%
CFO/Rev 3Y Avg17.8%8.8%9.2%13.2%4.8%12.3%10.7%
FCF/Rev LTM-1.3%-8.2%4.6%9.9%7.6%4.9%4.8%
FCF/Rev 3Y Avg9.3%0.4%-3.4%10.1%1.3%10.4%5.3%

Valuation

IPGPCOHRLITEMKSILASRNOVTMedian
NameIPG Phot.Coherent Lumentum MKS nLight Novanta  
Mkt Cap4.472.275.321.54.65.413.5
P/S4.210.930.35.315.95.58.2
P/Op Inc179.397.3299.636.3-306.246.071.7
P/EBIT179.3101.7252.938.5-359.846.073.9
P/E151.1154.0171.265.9-312.199.7125.4
P/CFO77.5514.6166.438.7148.283.8116.0
Total Yield0.7%0.6%0.6%1.8%-0.3%1.0%0.7%
Dividend Yield0.0%0.0%0.0%0.3%0.0%0.0%0.0%
FCF Yield 3Y Avg3.0%1.3%-1.9%4.8%-0.9%1.8%1.5%
D/E0.00.00.00.20.00.10.0
Net D/E-0.20.00.00.2-0.1-0.0-0.0

Returns

IPGPCOHRLITEMKSILASRNOVTMedian
NameIPG Phot.Coherent Lumentum MKS nLight Novanta  
1M Rtn-18.7%23.5%17.4%19.0%30.0%11.8%18.2%
3M Rtn-7.1%56.6%82.5%27.7%55.6%-2.9%41.7%
6M Rtn19.5%127.7%305.2%101.7%132.9%34.6%114.7%
12M Rtn72.0%438.0%1,523.4%302.3%627.9%14.0%370.2%
3Y Rtn-6.4%1,265.3%2,394.3%299.4%598.0%-13.3%448.7%
1M Excs Rtn-27.5%14.7%8.6%10.2%21.2%3.0%9.4%
3M Excs Rtn-13.5%50.2%76.0%21.3%49.2%-9.3%35.2%
6M Excs Rtn5.0%128.0%329.1%96.1%174.9%20.2%112.1%
12M Excs Rtn45.3%407.0%1,473.0%285.8%855.8%-16.1%346.4%
3Y Excs Rtn-93.8%1,026.3%2,034.5%206.6%737.8%-94.2%472.2%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
High Power Continuous Wave (CW) Lasers333525614687646
Other Revenue including Other Lasers, Amplifiers, Service, Parts, and Accessories247295284265201
Pulsed Lasers147186251241158
Laser and Non-Laser Systems13916115312794
Medium Power Continuous Wave (CW) Lasers6472778151
Quasi-Continuous Wave (QCW) Lasers4849506150
Total9771,2871,4301,4611,201


Price Behavior

Price Behavior
Market Price$103.48 
Market Cap ($ Bil)4.4 
First Trading Date12/13/2006 
Distance from 52W High-32.8% 
   50 Days200 Days
DMA Price$118.23$94.31
DMA Trendupup
Distance from DMA-12.5%9.7%
 3M1YR
Volatility110.1%64.1%
Downside Capture0.640.72
Upside Capture70.76165.18
Correlation (SPY)11.3%32.0%
IPGP Betas & Captures as of 4/30/2026

 1M2M3M6M1Y3Y
Beta1.912.141.071.501.751.52
Up Beta2.892.533.342.632.401.56
Down Beta6.544.17-0.760.851.481.41
Up Capture52%96%122%194%263%291%
Bmk +ve Days15223166141428
Stock +ve Days12233770144399
Down Capture-49%199%28%105%127%111%
Bmk -ve Days4183056108321
Stock -ve Days9192654106352

[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
IPGP81.6%64.3%1.18-
Sector ETF (XLK)64.5%20.8%2.2928.6%
Equity (SPY)28.1%12.5%1.7835.6%
Gold (GLD)42.9%26.9%1.307.3%
Commodities (DBC)48.6%18.0%2.14-13.7%
Real Estate (VNQ)13.6%13.5%0.7020.4%
Bitcoin (BTCUSD)-22.4%41.7%-0.5021.7%

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-10.9%46.5%-0.09-
Sector ETF (XLK)22.0%24.8%0.7848.2%
Equity (SPY)12.9%17.1%0.5951.2%
Gold (GLD)21.2%17.9%0.967.7%
Commodities (DBC)13.5%19.1%0.584.8%
Real Estate (VNQ)3.6%18.8%0.0935.9%
Bitcoin (BTCUSD)8.5%56.0%0.3622.4%

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
IPGP2.1%44.7%0.21-
Sector ETF (XLK)25.1%24.4%0.9351.8%
Equity (SPY)15.0%17.9%0.7252.0%
Gold (GLD)13.4%15.9%0.704.2%
Commodities (DBC)9.5%17.7%0.4514.2%
Real Estate (VNQ)5.6%20.7%0.2431.8%
Bitcoin (BTCUSD)68.1%66.9%1.0713.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date4302026
Short Interest: Shares Quantity2.2 Mil
Short Interest: % Change Since 41520269.3%
Average Daily Volume0.5 Mil
Days-to-Cover Short Interest4.9 days
Basic Shares Quantity42.2 Mil
Short % of Basic Shares5.3%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/2026-25.7%  
2/12/202635.5%17.2%0.0%
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%
10/29/20247.3%1.6%-2.7%
7/30/2024-7.3%-23.0%-21.1%
...
SUMMARY STATS   
# Positive9119
# Negative161315
Median Positive7.7%4.4%6.3%
Median Negative-6.5%-9.3%-11.4%
Max Positive35.5%29.1%36.8%
Max Negative-25.7%-23.0%-21.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/05/202610-Q
12/31/202502/23/202610-K
09/30/202511/04/202510-Q
06/30/202508/05/202510-Q
03/31/202505/06/202510-Q
12/31/202402/20/202510-K
09/30/202410/29/202410-Q
06/30/202407/30/202410-Q
03/31/202404/30/202410-Q
12/31/202302/21/202410-K
09/30/202310/31/202310-Q
06/30/202308/01/202310-Q
03/31/202305/02/202310-Q
12/31/202202/27/202310-K
09/30/202211/01/202210-Q
06/30/202208/03/202210-Q

Recent Forward Guidance [BETA]

Latest: Q1 2026 Earnings Reported 5/5/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Revenue260.00 Mil275.00 Mil290.00 Mil10.0% RaisedGuidance: 250.00 Mil for Q1 2026
Q2 2026 Adjusted Gross Margin37.0%38.5%40.0%1.3%0.5%RaisedGuidance: 38.0% for Q1 2026
Q2 2026 Adjusted Operating Expenses92.00 Mil93.50 Mil95.00 Mil2.7% RaisedGuidance: 91.00 Mil for Q1 2026
Q2 2026 Adjusted EPS0.250.40.5560.0% RaisedGuidance: 0.25 for Q1 2026
Q2 2026 Adjusted EBITDA32.00 Mil40.00 Mil48.00 Mil23.1% RaisedGuidance: 32.50 Mil for Q1 2026

Prior: Q4 2025 Earnings Reported 2/12/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Revenue235.00 Mil250.00 Mil265.00 Mil2.0% Higher NewGuidance: 245.00 Mil for Q4 2025
Q1 2026 Adjusted Gross Margin37.0%38.0%39.0%1.3%0.5%Higher NewGuidance: 37.5% for Q4 2025
Q1 2026 Operating Expenses90.00 Mil91.00 Mil92.00 Mil0 Same NewGuidance: 91.00 Mil for Q4 2025
Q1 2026 Adjusted EPS0.10.250.425.0% Higher NewGuidance: 0.2 for Q4 2025
Q1 2026 Adjusted EBITDA25.00 Mil32.50 Mil40.00 Mil10.2% Higher NewGuidance: 29.50 Mil for Q4 2025

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Buttarazzi, Mary EVP, Corp Controller and CAODirectSell3172026116.2250058,110551,929Form
2Ip, Fibre Devices Ltd DirectSell2242026136.891,620221,768893,780,071Form
3Scherbakov, Eugene A DirectSell2242026137.832,700372,1418,062,366Form
4Ip, Fibre Devices Ltd DirectSell2242026133.5233,3804,456,899871,968,872Form
5Ip, Fibre Devices Ltd DirectSell2242026131.9429,1673,848,311866,058,319Form

External Quote Links


Prefer one of these to Trefis? Tell us why.