IPG Photonics Corporation

NasdaqGS:IPGP Stock Report

Market Cap: US$4.9b

IPG Photonics Past Earnings Performance

Past criteria checks 1/6

IPG Photonics's earnings have been declining at an average annual rate of -46.5%, while the Electronic industry saw earnings growing at 3.8% annually. Revenues have been declining at an average rate of 9.3% per year. IPG Photonics's return on equity is 1.4%, and it has net margins of 2.8%.

Key information

-46.54%

Earnings growth rate

-44.76%

EPS growth rate

Electronic Industry Growth15.34%
Revenue growth rate-9.27%
Return on equity1.37%
Net Margin2.78%
Last Earnings Update31 Mar 2026

Recent past performance updates

Recent updates

Narrative Update • May 25

IPGP: Updated Management And New Markets Will Drive Long Term Earnings Power

The updated analyst fair value estimate for IPG Photonics has shifted from $180.00 to $162.00, as analysts factor in revised discount rate and growth assumptions while still highlighting progress under the refreshed management team and the company’s broader product reach into markets considered to have higher growth potential. Analyst Commentary Bullish analysts are highlighting the refreshed management team and broader product reach as key factors behind their optimistic stance on IPG Photonics.
Narrative Update • May 01

IPGP: Defense And Laser Collaborations Will Drive Long Term Earnings Power

IPG Photonics' analyst price target has shifted to $180.00. This reflects updated views as analysts factor in recent target changes from Stifel and Roth Capital, along with a downgrade from Raymond James.
Seeking Alpha • Apr 20

IPG Photonics: Stock Could Outperform On Above-Average Long-Term Growth

Summary IPG Photonics is positioned for above-average long-term growth, supported by margin expansion and a reasonable PEG valuation. IPGP's growth is driven by strong demand in welding, medical, and defense applications, with recent FDA clearance and new product launches. Gross margin improved from 34.6% to 38% in 2025, and net income margin turned positive, reflecting successful operational streamlining. IPGP's strong balance sheet and technical bull flag formation suggest a potential near-term breakout, with the Q1 2026 earnings call as a key catalyst. Read the full article on Seeking Alpha
Narrative Update • Apr 16

IPGP: Business Recovery And Higher P/E Assumptions Will Support Future Upside

The analyst price target for IPG Photonics has moved from $96.08 to $144.75, with analysts citing updated assumptions around revenue growth, profit margins and future P/E. These revisions are informed by recent research that includes both higher targets from some firms and a downgrade from others.
Narrative Update • Apr 02

IPGP: Defense And Industrial Laser Demand Will Drive Long Term Earnings Power

Analysts have raised their blended price target on IPG Photonics, reflecting a $73 increase at Stifel, a $12.50 increase at BofA, and a $5 increase at Roth Capital, while refining assumptions on revenue growth, profit margins, discount rate, and future P/E. Analyst Commentary Recent Street research on IPG Photonics shows a clear split in views, with some cautious voices alongside a group of bullish analysts who are becoming more constructive on the stock and its long term setup.
Narrative Update • Mar 19

IPGP: Elevated P E Assumptions Will Pressure Returns If Margins Disappoint

The analyst fair value estimate for IPG Photonics has shifted from $65.00 to $92.50, with analysts pointing to updated assumptions around revenue growth, profitability, and future P/E multiples in light of recent price target changes from firms covering the stock. Analyst Commentary Recent Street research around IPG Photonics shows a mix of updated price targets and rating changes that point to a more cautious tone from some bearish analysts, even as others review their assumptions.
Narrative Update • Mar 05

IPGP: Defense And Industrial Laser Demand Will Support Higher Long Term Earnings Power

Narrative Update on IPG Photonics The analyst price target for IPG Photonics has been raised by $73, with supporting research pointing to updated assumptions for discount rates, revenue growth, profit margins, and future P/E. Several firms have recently lifted their targets, although opinions on the stock's rating remain mixed.
Narrative Update • Feb 19

IPGP: Defense And Industrial Laser Demand Will Support Higher Future Earnings Multiple

Analysts have raised their implied fair value estimate for IPG Photonics from $110.00 to $180.00, reflecting updated assumptions on growth, profitability and future P/E that align with several recent price target increases across the Street and incorporate both the latest upgrades and a fresh downgrade. Analyst Commentary Recent Street research on IPG Photonics reflects a mix of views, but the higher implied fair value estimate to $180.00 is broadly in line with several bullish target moves clustered over the past few weeks.
Narrative Update • Feb 05

IPGP: Defense And Industrial Laser Demand Will Support Measured Multiyear Upside Potential

Narrative Update on IPG Photonics The analyst price target for IPG Photonics moves from US$105 to US$110. Analysts point to updated assumptions on discount rate, revenue growth, profit margin and future P/E, alongside recent price target increases from multiple firms, as the key drivers of this shift.
Analysis Article • Jan 29

There's Reason For Concern Over IPG Photonics Corporation's (NASDAQ:IPGP) Massive 27% Price Jump

IPG Photonics Corporation ( NASDAQ:IPGP ) shares have had a really impressive month, gaining 27% after a shaky period...
Narrative Update • Jan 21

IPGP: Business Recovery In Welding And Micromachining Will Support Higher Future Multiple

Analysts have nudged their price expectations for IPG Photonics higher, with our fair value estimate moving from about $94 to roughly $96, citing recent target increases and upgrades that highlight improving demand trends and a slightly richer assumed future P/E multiple. Analyst Commentary Bullish Takeaways Bullish analysts point to the recent upgrade and higher price target of US$105, up from US$68, as support for a higher assumed P/E.
Narrative Update • Jan 06

IPGP: Welding And Micromachining Recovery Will Drive Multiyear Upside Potential

Analysts have raised their price target on IPG Photonics to US$105, citing signs of business recovery in welding and micromachining, as well as a shift to positive year over year revenue growth after an extended period of declines. Analyst Commentary Recent Street research shows a clear shift in tone from bearish to more constructive, with bullish analysts citing early signs of business recovery as the key driver behind their updated views on IPG Photonics.
Narrative Update • Dec 18

IPGP: Urology And Defense Expansion Will Drive Multiyear Upside Potential

Analysts have raised their price target on IPG Photonics from $97 to $105 per share, citing a nascent business recovery with improving welding and micromachining demand, a return to year over year revenue growth after a prolonged downturn, and expectations for multi year expansion driven by urology, directed energy, and broader fiber laser adoption. Analyst Commentary Bullish analysts are framing the recent price target increase to $105 as a validation of IPG Photonics renewed growth trajectory and improving execution.
Narrative Update • Dec 04

IPGP: Business Recovery Will Drive Demand In Welding And Micromachining

Analysts have raised their price target on IPG Photonics to $105 from $68, reflecting renewed confidence in the companys return to growth, improving demand in welding and micromachining, and expanding opportunities in urology and directed energy applications. Analyst Commentary Recent rating changes and initiations reflect a notable shift in sentiment toward IPG Photonics, with bullish analysts emphasizing a clear inflection in fundamentals and a more supportive demand backdrop across key end markets.
Narrative Update • Nov 19

IPGP: Sustained Business Recovery Will Support Gains in Key Application Markets

Analysts have raised their price target for IPG Photonics from $82.83 to $94.00. They cite signs of a business turnaround, improved revenue growth, and expectations for ongoing demand recovery across key markets.
Narrative Update • Nov 05

IPGP: Business Recovery and Expanding Margins Will Drive Measured Opportunity Ahead

IPG Photonics' analyst price target has risen sharply from $68 to $105. This reflects analysts' optimism following signs of business recovery, improved revenue growth, and expanding margins.
Narrative Update • Oct 22

Analysts Highlight Growth Drivers and Risks as IPG Photonics Updates Valuation and Guidance

Analysts have raised their price target for IPG Photonics by $16, citing renewed revenue growth, margin expansion, and strengthening positions in emerging end markets as key drivers for improved valuation. Analyst Commentary Recent analyst research on IPG Photonics highlights both the company's strengthening fundamentals and areas where caution may be warranted.
Narrative Update • Oct 08

Global Automation And Electric Trends Will Expand Advanced Laser Adoption

IPG Photonics' analyst fair value price target has increased from $80.20 to $82.83. Analysts cite renewed growth, margin expansion, and opportunities in emerging markets as key drivers of the revised outlook.
Narrative Update • Aug 07

Global Automation And Electric Trends Will Expand Advanced Laser Adoption

With consensus analyst forecasts for both revenue growth (6.3% per annum) and the discount rate (8.06%) remaining stable, the fair value estimate for IPG Photonics is unchanged at $75.80. What's in the News Completed repurchase of 3,600,367 shares (8.13%) for $279.93 million under 2024 buyback plan.
Analysis Article • Jul 11

The Returns On Capital At IPG Photonics (NASDAQ:IPGP) Don't Inspire Confidence

What underlying fundamental trends can indicate that a company might be in decline? When we see a declining return on...
Seeking Alpha • Feb 14

IPG Photonics Corporation: A Further Decline Is Still Possible

Summary The latest report from IPGP was a letdown overall and the stock dropped to new lows, but it may now be at a crossroad in terms of the charts. The charts suggest what the stock does in the short term could encourage the bulls, but also the bears, depending on the moves the stock makes. IPGP tried to put a positive spin on the current state of affairs by talking about future prospects, but it is telling that the market was not buying it. Trends can change, but with IPGP yet to solve its main problems, it is hard to see the stock not sticking with the existing trend for a while longer. Read the full article on Seeking Alpha
Seeking Alpha • Nov 03

IPG Photonics: Cheap, Only If Execution Returns

Summary IPG Photonics is a former growth darling in lasers, having lost real momentum in recent years. Most of this is self-inflicted as execution is the issue, as the company has changed its leadership this year. Margin and sales momentum can unleash great potential, yet few green shoots are seen here. Read the full article on Seeking Alpha
User avatar
New Narrative • Sep 05

Innovative R&D And Decisive Partnerships Set To Enhance Competitiveness And Revenue Growth

Focusing on R&D and launching innovative products along with expanding into new applications like EV battery welding and 3D printing to boost demand and revenue.
Seeking Alpha • Aug 27

IPG Photonics Corporation: The Possibility Of A Further Decline Cannot Be Excluded

Summary IPG Photonics stock has recovered lately after several factors led to a big drop in the preceding weeks, but there is reason to believe IPGP has yet to hit bottom. The charts suggest that with the loss of support that held for a long time, the stock price could fall further. IPGP was once targeting a return to growth in H2, but the latest outlook no longer considers that possibility with guidance much worse than expected. While some may want to bet on a further bounce in the stock, another drop in the stock price is possible with IPGP yet to resolve the challenges it faces. Read the full article on Seeking Alpha

Revenue & Expenses Breakdown

How IPG Photonics makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NasdaqGS:IPGP Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 261,04129250116
31 Dec 251,00431247111
30 Sep 2596426227114
30 Jun 25946-215223111
31 Mar 25953-202223102
31 Dec 24977-182220103
30 Sep 241,042-148220112
30 Jun 241,110141219109
31 Mar 241,192183214105
31 Dec 231,28721921694
30 Sep 231,3228520698
30 Jun 231,37010620698
31 Mar 231,407100208105
31 Dec 221,430110208116
30 Sep 221,460268208126
30 Jun 221,491267208135
31 Mar 221,485280206140
31 Dec 211,461278204140
30 Sep 211,433263197135
30 Jun 211,372223190132
31 Mar 211,297191184128
31 Dec 201,201160181127
30 Sep 201,171106180126
30 Jun 201,181127179126
31 Mar 201,249161185129
31 Dec 191,315180185130
30 Sep 191,338260185131
30 Jun 191,365304178130
31 Mar 191,415353168127
31 Dec 181,460404160123
30 Sep 181,491381151118
30 Jun 181,527397147112
31 Mar 181,483379141107
31 Dec 171,409348130101
30 Sep 171,32837012296
30 Jun 171,20132311591
31 Mar 171,08528610984
31 Dec 161,00626110279
30 Sep 169502469874
30 Jun 169272409470
31 Mar 169102349167
31 Dec 159012428963
30 Sep 158852388959
30 Jun 158412308857

Quality Earnings: IPGP has a large one-off loss of $14.1M impacting its last 12 months of financial results to 31st March, 2026.

Growing Profit Margin: IPGP became profitable in the past.

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: IPGP's earnings have declined by 46.5% per year over the past 5 years.

Accelerating Growth: IPGP has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: IPGP has become profitable in the last year, making it difficult to compare its past year earnings growth to the Electronic industry (10.6%).

Return on Equity

High ROE: IPGP's Return on Equity (1.4%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/02 21:58
End of Day Share Price 2026/06/02 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

IPG Photonics Corporation is covered by 25 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Christopher MuseBarclays
Andrew DeGasperiBerenberg
Paretosh MisraBerenberg