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Side-by-side financial comparison of Adecoagro S.A. (AGRO) and IPG PHOTONICS CORP (IPGP). Click either name above to swap in a different company.

Adecoagro S.A. is the larger business by last-quarter revenue ($304.2M vs $274.5M, roughly 1.1× IPG PHOTONICS CORP). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs 2.1%, a 2.7% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -35.5%).

Astra Agro Lestari Tbk. (AAL) is the second biggest palm oil company in Indonesia. It is a subsidiary of PT Astra International Tbk. At least in 2004, it controlled extensive land banks. It has two concessions on peatlands in Riau, with an estimated total area of 20,000 hectares.

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.

AGRO vs IPGP — Head-to-Head

Bigger by revenue
AGRO
AGRO
1.1× larger
AGRO
$304.2M
$274.5M
IPGP
Growing faster (revenue YoY)
IPGP
IPGP
+52.6% gap
IPGP
17.1%
-35.5%
AGRO
Higher net margin
IPGP
IPGP
2.7% more per $
IPGP
4.8%
2.1%
AGRO

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
AGRO
AGRO
IPGP
IPGP
Revenue
$304.2M
$274.5M
Net Profit
$6.4M
$13.3M
Gross Margin
35.1%
36.1%
Operating Margin
18.7%
1.2%
Net Margin
2.1%
4.8%
Revenue YoY
-35.5%
17.1%
Net Profit YoY
-65.7%
69.8%
EPS (diluted)
$0.07
$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.

Revenue
AGRO
AGRO
IPGP
IPGP
Q4 25
$274.5M
Q3 25
$304.2M
$250.8M
Q2 25
$250.7M
Q1 25
$227.8M
Q4 24
$234.3M
Q3 24
$471.5M
$233.1M
Q2 24
$257.6M
Q1 24
$252.0M
Net Profit
AGRO
AGRO
IPGP
IPGP
Q4 25
$13.3M
Q3 25
$6.4M
$7.5M
Q2 25
$6.6M
Q1 25
$3.8M
Q4 24
$7.8M
Q3 24
$18.7M
$-233.6M
Q2 24
$20.2M
Q1 24
$24.1M
Gross Margin
AGRO
AGRO
IPGP
IPGP
Q4 25
36.1%
Q3 25
35.1%
39.5%
Q2 25
37.3%
Q1 25
39.4%
Q4 24
38.6%
Q3 24
25.1%
23.2%
Q2 24
37.3%
Q1 24
38.7%
Operating Margin
AGRO
AGRO
IPGP
IPGP
Q4 25
1.2%
Q3 25
18.7%
3.1%
Q2 25
0.0%
Q1 25
0.8%
Q4 24
6.0%
Q3 24
6.3%
-108.7%
Q2 24
4.7%
Q1 24
7.6%
Net Margin
AGRO
AGRO
IPGP
IPGP
Q4 25
4.8%
Q3 25
2.1%
3.0%
Q2 25
2.6%
Q1 25
1.6%
Q4 24
3.3%
Q3 24
4.0%
-100.2%
Q2 24
7.8%
Q1 24
9.6%
EPS (diluted)
AGRO
AGRO
IPGP
IPGP
Q4 25
$0.30
Q3 25
$0.07
$0.18
Q2 25
$0.16
Q1 25
$0.09
Q4 24
$0.27
Q3 24
$0.19
$-5.33
Q2 24
$0.45
Q1 24
$0.52

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AGRO
AGRO
IPGP
IPGP
Cash + ST InvestmentsLiquidity on hand
$340.0M
$839.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.4B
$2.1B
Total Assets
$3.6B
$2.4B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AGRO
AGRO
IPGP
IPGP
Q4 25
$839.3M
Q3 25
$340.0M
$870.4M
Q2 25
$899.6M
Q1 25
$926.9M
Q4 24
$930.2M
Q3 24
$198.3M
$1.0B
Q2 24
$1.1B
Q1 24
$1.1B
Stockholders' Equity
AGRO
AGRO
IPGP
IPGP
Q4 25
$2.1B
Q3 25
$1.4B
$2.1B
Q2 25
$2.1B
Q1 25
$2.1B
Q4 24
$2.0B
Q3 24
$1.4B
$2.1B
Q2 24
$2.3B
Q1 24
$2.3B
Total Assets
AGRO
AGRO
IPGP
IPGP
Q4 25
$2.4B
Q3 25
$3.6B
$2.4B
Q2 25
$2.4B
Q1 25
$2.3B
Q4 24
$2.3B
Q3 24
$2.4B
Q2 24
$2.5B
Q1 24
$2.6B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AGRO
AGRO
IPGP
IPGP
Operating Cash FlowLast quarter
$138.7M
$28.8M
Free Cash FlowOCF − Capex
$10.9M
FCF MarginFCF / Revenue
4.0%
Capex IntensityCapex / Revenue
6.5%
Cash ConversionOCF / Net Profit
21.58×
2.17×
TTM Free Cash FlowTrailing 4 quarters
$-3.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AGRO
AGRO
IPGP
IPGP
Q4 25
$28.8M
Q3 25
$138.7M
$35.3M
Q2 25
$-2.2M
Q1 25
$13.4M
Q4 24
$73.8M
Q3 24
$164.9M
$66.1M
Q2 24
$53.5M
Q1 24
$54.6M
Free Cash Flow
AGRO
AGRO
IPGP
IPGP
Q4 25
$10.9M
Q3 25
$14.6M
Q2 25
$-17.6M
Q1 25
$-11.4M
Q4 24
$50.6M
Q3 24
$43.0M
Q2 24
$29.2M
Q1 24
$26.5M
FCF Margin
AGRO
AGRO
IPGP
IPGP
Q4 25
4.0%
Q3 25
5.8%
Q2 25
-7.0%
Q1 25
-5.0%
Q4 24
21.6%
Q3 24
18.4%
Q2 24
11.3%
Q1 24
10.5%
Capex Intensity
AGRO
AGRO
IPGP
IPGP
Q4 25
6.5%
Q3 25
8.3%
Q2 25
6.1%
Q1 25
10.9%
Q4 24
9.9%
Q3 24
9.9%
Q2 24
9.4%
Q1 24
11.1%
Cash Conversion
AGRO
AGRO
IPGP
IPGP
Q4 25
2.17×
Q3 25
21.58×
4.73×
Q2 25
-0.34×
Q1 25
3.58×
Q4 24
9.44×
Q3 24
8.81×
Q2 24
2.65×
Q1 24
2.27×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

AGRO
AGRO

Segment breakdown not available.

IPGP
IPGP

Materials Processing$232.8M85%
Laser And Non Laser Systems$38.8M14%
Transferred Over Time$5.3M2%

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