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IPG PHOTONICS CORP IPGP

Nasdaq · stock · Semiconductors & Related Devices · website · IPO 2006-12-13 · LEI

IPG PHOTONICS CORP statistics & valuation

Market cap$4.5B
P / E146.3×
P / S4.5×
P / B2.1×
Net margin3.1%
Return on equity1.5%
FCF margin-0.3%
Return on capital0.6%
Graham number -67.2%$28.63

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($28.63); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
25.90% 24.70% 27.70% 13.70% 13.30% 19.10% 7.70% 17.00% -18.60% 3.10% 2016201720182019202020212022202320242025
Gross margin (%)
54.90% 56.60% 54.80% 46.10% 44.90% 47.70% 38.90% 42.10% 34.60% 38.00% 2016201720182019202020212022202320242025
Operating margin (%)
36.20% 39.10% 35.90% 17.80% 16.50% 25.20% 11.90% 18.00% -21.30% 1.30% 2016201720182019202020212022202320242025
Return on equity (%)
16.70% 17.20% 18.30% 7.50% 6.20% 10.10% 4.60% 9.10% -9.00% 1.50% 2016201720182019202020212022202320242025
Shares outstanding
53.8M 54.7M 54.7M 53.8M 53.8M 53.9M 50.9M 47.3M 44.3M 42.6M 2016201720182019202020212022202320242025
Net debt ($)
-$586.2M -$864.5M -$499.0M -$638.4M -$838.3M -$674.9M -$682.2M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
14.60% 14.70% 15.70% 6.60% 5.40% 8.80% 4.00% 8.10% -7.90% 1.30% 2016201720182019202020212022202320242025
Free cash flow margin (%)
17.00% 19.80% 16.00% 14.50% 16.50% 18.20% 7.20% 14.40% 15.30% -0.30% 2016201720182019202020212022202320242025
Debt / equity (×)
0.02× 0.02× 0.02× 0.02× 0.01× 0.01× 0.01× 2016201720182019202020212022202320242025
EPS ($)
$4.85 $6.36 $7.38 $3.35 $2.97 $5.16 $2.16 $4.63 -$4.09 $0.73 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

IPG PHOTONICS CORP trades at about 119.6× earnings — above its 10-year norm (10-year range 17.8×–126.6×, median 38.1×).

17.8× 126.6×

Shaded band = 10-year range (17.8×–126.6×); dot = today's 119.6×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin38.0%34.6%42.1%38.9%47.7%44.9%46.1%54.8%56.6%54.9%
Operating margin1.3%-21.3%18.0%11.9%25.2%16.5%17.8%35.9%39.1%36.2%
Net margin3.1%-18.6%17.0%7.7%19.1%13.3%13.7%27.7%24.7%25.9%
FCF margin-0.3%15.3%14.4%7.2%18.2%16.5%14.5%16.0%19.8%17.0%
Return on assets1.3%-7.9%8.1%4.0%8.8%5.4%6.6%15.7%14.7%14.6%
Return on equity1.5%-9.0%9.1%4.6%10.1%6.2%7.5%18.3%17.2%16.7%
Debt / equity———0.01×0.01×0.01×0.02×0.02×0.02×0.02×
Current ratio6.086.988.917.237.4910.019.887.358.828.22

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.