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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and IPG PHOTONICS CORP (IPGP). Click either name above to swap in a different company.
IPG PHOTONICS CORP is the larger business by last-quarter revenue ($274.5M vs $139.2M, roughly 2.0× ADMA BIOLOGICS, INC.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs 4.8%, a 30.6% gap on every dollar of revenue. On growth, ADMA BIOLOGICS, INC. posted the faster year-over-year revenue change (18.4% vs 17.1%). ADMA BIOLOGICS, INC. produced more free cash flow last quarter ($34.6M vs $10.9M). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs 4.4%).
ADMA Biologics Inc. is a biopharmaceutical enterprise focused on the research, development, manufacturing and commercialization of specialty plasma-derived immunoglobulin therapies. It primarily operates in the United States, catering to patients with primary immunodeficiency and other immune-related disorders, healthcare providers and medical institutions across its core immune health therapeutic segment.
IPG Photonics Corporation is a manufacturer of fiber lasers. IPG Photonics developed and commercialized optical fiber lasers, which are used in a variety of applications including materials processing, medical applications and telecommunications. IPG has manufacturing facilities in the United States, Germany, Russia and Italy.
ADMA vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $274.5M |
| Net Profit | $49.4M | $13.3M |
| Gross Margin | 63.8% | 36.1% |
| Operating Margin | 45.1% | 1.2% |
| Net Margin | 35.5% | 4.8% |
| Revenue YoY | 18.4% | 17.1% |
| Net Profit YoY | -55.9% | 69.8% |
| EPS (diluted) | $0.20 | $0.30 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $139.2M | $274.5M | ||
| Q3 25 | $134.2M | $250.8M | ||
| Q2 25 | $122.0M | $250.7M | ||
| Q1 25 | $114.8M | $227.8M | ||
| Q4 24 | $117.5M | $234.3M | ||
| Q3 24 | $119.8M | $233.1M | ||
| Q2 24 | $107.2M | $257.6M | ||
| Q1 24 | $81.9M | $252.0M |
| Q4 25 | $49.4M | $13.3M | ||
| Q3 25 | $36.4M | $7.5M | ||
| Q2 25 | $34.2M | $6.6M | ||
| Q1 25 | $26.9M | $3.8M | ||
| Q4 24 | $111.9M | $7.8M | ||
| Q3 24 | $35.9M | $-233.6M | ||
| Q2 24 | $32.1M | $20.2M | ||
| Q1 24 | $17.8M | $24.1M |
| Q4 25 | 63.8% | 36.1% | ||
| Q3 25 | 56.3% | 39.5% | ||
| Q2 25 | 55.1% | 37.3% | ||
| Q1 25 | 53.2% | 39.4% | ||
| Q4 24 | 53.9% | 38.6% | ||
| Q3 24 | 49.8% | 23.2% | ||
| Q2 24 | 53.6% | 37.3% | ||
| Q1 24 | 47.8% | 38.7% |
| Q4 25 | 45.1% | 1.2% | ||
| Q3 25 | 38.0% | 3.1% | ||
| Q2 25 | 35.1% | 0.0% | ||
| Q1 25 | 30.4% | 0.8% | ||
| Q4 24 | 32.6% | 6.0% | ||
| Q3 24 | 33.1% | -108.7% | ||
| Q2 24 | 36.6% | 4.7% | ||
| Q1 24 | 26.7% | 7.6% |
| Q4 25 | 35.5% | 4.8% | ||
| Q3 25 | 27.1% | 3.0% | ||
| Q2 25 | 28.1% | 2.6% | ||
| Q1 25 | 23.4% | 1.6% | ||
| Q4 24 | 95.2% | 3.3% | ||
| Q3 24 | 30.0% | -100.2% | ||
| Q2 24 | 29.9% | 7.8% | ||
| Q1 24 | 21.7% | 9.6% |
| Q4 25 | $0.20 | $0.30 | ||
| Q3 25 | $0.15 | $0.18 | ||
| Q2 25 | $0.14 | $0.16 | ||
| Q1 25 | $0.11 | $0.09 | ||
| Q4 24 | $0.45 | $0.27 | ||
| Q3 24 | $0.15 | $-5.33 | ||
| Q2 24 | $0.13 | $0.45 | ||
| Q1 24 | $0.08 | $0.52 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $87.6M | $839.3M |
| Total DebtLower is stronger | $72.1M | — |
| Stockholders' EquityBook value | $477.3M | $2.1B |
| Total Assets | $624.2M | $2.4B |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.6M | $839.3M | ||
| Q3 25 | $61.4M | $870.4M | ||
| Q2 25 | $90.3M | $899.6M | ||
| Q1 25 | $71.6M | $926.9M | ||
| Q4 24 | $103.1M | $930.2M | ||
| Q3 24 | $86.7M | $1.0B | ||
| Q2 24 | $88.2M | $1.1B | ||
| Q1 24 | $45.3M | $1.1B |
| Q4 25 | $72.1M | — | ||
| Q3 25 | $72.4M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $72.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $477.3M | $2.1B | ||
| Q3 25 | $431.2M | $2.1B | ||
| Q2 25 | $398.3M | $2.1B | ||
| Q1 25 | $373.4M | $2.1B | ||
| Q4 24 | $349.0M | $2.0B | ||
| Q3 24 | $231.9M | $2.1B | ||
| Q2 24 | $188.3M | $2.3B | ||
| Q1 24 | $153.7M | $2.3B |
| Q4 25 | $624.2M | $2.4B | ||
| Q3 25 | $568.7M | $2.4B | ||
| Q2 25 | $558.4M | $2.4B | ||
| Q1 25 | $510.6M | $2.3B | ||
| Q4 24 | $488.7M | $2.3B | ||
| Q3 24 | $390.6M | $2.4B | ||
| Q2 24 | $376.4M | $2.5B | ||
| Q1 24 | $350.9M | $2.6B |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $35.6M | $28.8M |
| Free Cash FlowOCF − Capex | $34.6M | $10.9M |
| FCF MarginFCF / Revenue | 24.8% | 4.0% |
| Capex IntensityCapex / Revenue | 0.8% | 6.5% |
| Cash ConversionOCF / Net Profit | 0.72× | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.6M | $28.8M | ||
| Q3 25 | $13.3M | $35.3M | ||
| Q2 25 | $21.1M | $-2.2M | ||
| Q1 25 | $-19.7M | $13.4M | ||
| Q4 24 | $50.2M | $73.8M | ||
| Q3 24 | $25.0M | $66.1M | ||
| Q2 24 | $45.6M | $53.5M | ||
| Q1 24 | $-2.2M | $54.6M |
| Q4 25 | $34.6M | $10.9M | ||
| Q3 25 | $-1.1M | $14.6M | ||
| Q2 25 | $18.7M | $-17.6M | ||
| Q1 25 | $-24.4M | $-11.4M | ||
| Q4 24 | $47.5M | $50.6M | ||
| Q3 24 | $24.0M | $43.0M | ||
| Q2 24 | $43.6M | $29.2M | ||
| Q1 24 | $-4.6M | $26.5M |
| Q4 25 | 24.8% | 4.0% | ||
| Q3 25 | -0.8% | 5.8% | ||
| Q2 25 | 15.3% | -7.0% | ||
| Q1 25 | -21.2% | -5.0% | ||
| Q4 24 | 40.4% | 21.6% | ||
| Q3 24 | 20.0% | 18.4% | ||
| Q2 24 | 40.7% | 11.3% | ||
| Q1 24 | -5.6% | 10.5% |
| Q4 25 | 0.8% | 6.5% | ||
| Q3 25 | 10.7% | 8.3% | ||
| Q2 25 | 2.0% | 6.1% | ||
| Q1 25 | 4.1% | 10.9% | ||
| Q4 24 | 2.3% | 9.9% | ||
| Q3 24 | 0.9% | 9.9% | ||
| Q2 24 | 1.9% | 9.4% | ||
| Q1 24 | 2.9% | 11.1% |
| Q4 25 | 0.72× | 2.17× | ||
| Q3 25 | 0.36× | 4.73× | ||
| Q2 25 | 0.62× | -0.34× | ||
| Q1 25 | -0.73× | 3.58× | ||
| Q4 24 | 0.45× | 9.44× | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 1.42× | 2.65× | ||
| Q1 24 | -0.12× | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADMA
| ADMA Bio Manufacturing Segment | $123.1M | 88% |
| Other | $16.0M | 12% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
