IPG Photonics Corporation (IPGP)
Fair ValueFundamental
53
Price
$82.33
Market Cap
$3.32B
Part 1 · What the company is worth
Overview
IPG Photonics Corporation develops, manufactures, and sells fiber lasers, fiber amplifiers, diode lasers, and laser-based systems used in materials processing, medical, and advanced applications. The company offers laser products, including hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; and high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers, as well as other versions. It also provides complementary products, such as optical fiber delivery cables, fiber couplers, beam switches, optical processing heads, process measuring and monitoring technologies, and in-line sensors and chillers. In addition, the company offers LightWELD, a handheld laser welding system; 2D compact flat sheet cutter systems; high precision laser systems for medical technology industry; multi axis Cartesian systems for fine welding, cutting, and drilling applications; laser and non-laser robotic welding and automation solutions; and related accessories for specific medical applications. The company sells and 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. It serves general manufacturing, automotive, consumer goods, medical devices, energy/renewable energy, micro electronics, original equipment manufacturers instrument manufacturing, scientific, as well as aerospace and defense, rail, and shipbuilding markets. IPG Photonics Corporation was founded in 1990 and is headquartered in Marlborough, Massachusetts.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
Generated on September 18, 2026 with claude-haiku-4-5 — shared with all users
Named by IPG in its 10-K, Coherent offers a broad range of fiber and solid-state lasers for industrial materials processing, competing for the same cutting, welding and marking applications.
Named by IPG in its 10-K, Lumentum's commercial lasers unit sells fiber and ultrafast sources for marking, micro-machining and precision materials processing, the same buyers IPG targets.
Named by IPG in its 10-K, the German family-owned group sells high-power industrial lasers and laser cutting and welding machines to the same metal-fabrication and automotive customers IPG supplies.
Named by IPG in its 10-K, Raycus is the leading Chinese fiber laser maker and takes share from IPG in China by selling comparable kilowatt-class sources at markedly lower prices.
Named by IPG in its 10-K, nLIGHT builds its own semiconductor and fiber lasers and competes directly in industrial cutting and welding as well as in defense-directed energy programmes.
Named by IPG in its 10-K, the Shenzhen manufacturer competes head-on in entry- and mid-power fiber laser sources sold to cutting and marking machine builders in Asia and, increasingly, Europe.
Balance Sheet & Liquidity
Revenue
$1.07B
Trailing 12 months (through 6/30/2026)
Net Income
$28M
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$-3M
Total Equity
$2.13B
Total Liabilities
$296M
Current Ratio
6.18
Interest Coverage
-
Debt/EBITDA
0.20
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$70.59
Current Price
$82.33
Margin of Safety
-16.6%
Fair Value Range
$45.89 - $95.30
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
122.31
ROE
1.5%
P/B Ratio
1.57
P/FCF
160.09
Gross Margin
38.4%
ROIC
0.3%
Profitability Radar
Value Creation (Economic Moat)
ROIC
0.3%
WACC
9.9%
ROIC − WACC
-9.6 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Fundamental Analysis Criteria
Passed (14)
- EPS shows upward trend
- EPS CAGR 11.95%
- Gross Margin 38.4%
- P/B Ratio 1.57
- Debt/Equity ratio
- Positive Free Cash Flow
- Current Ratio
- Debt/EBITDA
- Low reliance on intangibles
- Analyst Consensus 71% Buy
- Earnings Quality (OCF/NI) 3.50
- Share Dilution -4.0%
- Net Margin Trend 2.6% vs -22.8%
- Piotroski F-Score 6/9
Failed (11)
- Price CAGR -2.43%
- ROIC 0.3%
- P/FCF 160.09
- Operating Margin 0.7%
- CapEx intensity
- Return on Tangible Assets
- Price below Graham Number
- DCF valuation (Overvalued)
- ROE 1.3%
- Revenue Growth 5Y -3.5%
- Earnings Surprise avg -17.7%
Unavailable (3)
- Dividend Payout NaN%
- Interest Coverage
- PEG Ratio (need PE > 0 and growth > 0)
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Dr. Mark Milton Gitin Ph.D. | CEO & Director | 58 |
| Mr. Timothy P. V. Mammen | Senior VP & CFO | 55 |
| Dr. Paulus Bucher Ph.D. | Senior Vice President of Global Operations | 58 |
| Mr. Angelo P. Lopresti II, J.D. | Senior VP, General Counsel & Secretary | 61 |
| Mr. Trevor D. Ness | Senior Vice President & Chief Revenue Officer | 52 |
| Ms. Mary E. Buttarazzi | VP, Corporate Controller, Chief Accounting Officer & Principal Accounting Officer | 49 |
| Dr. Igor Samartsev Ph.D. | Senior VP & Chief Scientist | 62 |
| Mr. Eugene Fedotoff | Senior Director of Investor Relations | - |
| Ms. Jennifer Kartono | Senior VP & Chief Human Resources Officer | 55 |
| Dr. Eugene A. Scherbakov Ph.D. | Director & Advisor | 77 |
Audit Risk
5
Board Risk
2
Compensation Risk
9
Shareholder Rights Risk
2
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-23
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-04
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-09-08
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for IPGP, sourced from Markets Gazette.
- 3/6/2026POSITIVEHow IPG Photonics Stock Gained 42% Last Month
IPG Photonics Corporation (IPGP) experienced a significant surge of 42% in its stock price last month, outperforming analyst expectations. This substantial gain indicates strong positive market sentiment and potentially reflects robust operational performance or favorable market conditions for the company's products. Investors are likely reacting to news that suggests a brighter future outlook for the company, possibly related to increased demand for its fiber laser technology or successful product innovations. The impressive monthly performance suggests that IPG Photonics is a company to watch for continued growth.
via Markets Gazette