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Side-by-side financial comparison of ANI PHARMACEUTICALS INC (ANIP) 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 $247.1M, roughly 1.1× ANI PHARMACEUTICALS INC). ANI PHARMACEUTICALS INC runs the higher net margin — 11.1% vs 4.8%, a 6.3% gap on every dollar of revenue. On growth, ANI PHARMACEUTICALS INC posted the faster year-over-year revenue change (29.6% vs 17.1%). ANI PHARMACEUTICALS INC produced more free cash flow last quarter ($29.1M vs $10.9M). Over the past eight quarters, ANI PHARMACEUTICALS INC's revenue compounded faster (34.1% CAGR vs 4.4%).
ANI Pharmaceuticals Inc is a U.S.-based specialty pharmaceutical firm that develops, manufactures and sells generic and branded prescription drugs. Its key segments cover dermatology, oncology, CNS therapies and anti-infectives, primarily serving U.S. healthcare providers, retail pharmacies and institutional medical clients.
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.
ANIP vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $247.1M | $274.5M |
| Net Profit | $27.5M | $13.3M |
| Gross Margin | — | 36.1% |
| Operating Margin | 14.1% | 1.2% |
| Net Margin | 11.1% | 4.8% |
| Revenue YoY | 29.6% | 17.1% |
| Net Profit YoY | 367.5% | 69.8% |
| EPS (diluted) | $1.14 | $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 | $247.1M | $274.5M | ||
| Q3 25 | $227.8M | $250.8M | ||
| Q2 25 | $211.4M | $250.7M | ||
| Q1 25 | $197.1M | $227.8M | ||
| Q4 24 | $190.6M | $234.3M | ||
| Q3 24 | $148.3M | $233.1M | ||
| Q2 24 | $138.0M | $257.6M | ||
| Q1 24 | $137.4M | $252.0M |
| Q4 25 | $27.5M | $13.3M | ||
| Q3 25 | $26.6M | $7.5M | ||
| Q2 25 | $8.5M | $6.6M | ||
| Q1 25 | $15.7M | $3.8M | ||
| Q4 24 | $-10.3M | $7.8M | ||
| Q3 24 | $-24.2M | $-233.6M | ||
| Q2 24 | $-2.3M | $20.2M | ||
| Q1 24 | $18.2M | $24.1M |
| Q4 25 | — | 36.1% | ||
| Q3 25 | — | 39.5% | ||
| Q2 25 | — | 37.3% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | — | 38.6% | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 37.3% | ||
| Q1 24 | — | 38.7% |
| Q4 25 | 14.1% | 1.2% | ||
| Q3 25 | 15.9% | 3.1% | ||
| Q2 25 | 6.6% | 0.0% | ||
| Q1 25 | 13.3% | 0.8% | ||
| Q4 24 | -2.3% | 6.0% | ||
| Q3 24 | -13.8% | -108.7% | ||
| Q2 24 | 3.7% | 4.7% | ||
| Q1 24 | 14.8% | 7.6% |
| Q4 25 | 11.1% | 4.8% | ||
| Q3 25 | 11.7% | 3.0% | ||
| Q2 25 | 4.0% | 2.6% | ||
| Q1 25 | 8.0% | 1.6% | ||
| Q4 24 | -5.4% | 3.3% | ||
| Q3 24 | -16.3% | -100.2% | ||
| Q2 24 | -1.7% | 7.8% | ||
| Q1 24 | 13.2% | 9.6% |
| Q4 25 | $1.14 | $0.30 | ||
| Q3 25 | $1.13 | $0.18 | ||
| Q2 25 | $0.36 | $0.16 | ||
| Q1 25 | $0.69 | $0.09 | ||
| Q4 24 | $-0.45 | $0.27 | ||
| Q3 24 | $-1.27 | $-5.33 | ||
| Q2 24 | $-0.14 | $0.45 | ||
| Q1 24 | $0.82 | $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 | $285.6M | $839.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $540.7M | $2.1B |
| Total Assets | $1.4B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $285.6M | $839.3M | ||
| Q3 25 | $262.6M | $870.4M | ||
| Q2 25 | $217.8M | $899.6M | ||
| Q1 25 | $149.8M | $926.9M | ||
| Q4 24 | $144.9M | $930.2M | ||
| Q3 24 | $145.0M | $1.0B | ||
| Q2 24 | $240.1M | $1.1B | ||
| Q1 24 | $228.6M | $1.1B |
| Q4 25 | $540.7M | $2.1B | ||
| Q3 25 | $505.8M | $2.1B | ||
| Q2 25 | $436.8M | $2.1B | ||
| Q1 25 | $418.6M | $2.1B | ||
| Q4 24 | $403.7M | $2.0B | ||
| Q3 24 | $405.9M | $2.1B | ||
| Q2 24 | $455.8M | $2.3B | ||
| Q1 24 | $452.0M | $2.3B |
| Q4 25 | $1.4B | $2.4B | ||
| Q3 25 | $1.4B | $2.4B | ||
| Q2 25 | $1.3B | $2.4B | ||
| Q1 25 | $1.3B | $2.3B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $1.3B | $2.4B | ||
| Q2 24 | $920.8M | $2.5B | ||
| Q1 24 | $914.5M | $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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $30.4M | $28.8M |
| Free Cash FlowOCF − Capex | $29.1M | $10.9M |
| FCF MarginFCF / Revenue | 11.8% | 4.0% |
| Capex IntensityCapex / Revenue | 0.5% | 6.5% |
| Cash ConversionOCF / Net Profit | 1.10× | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $171.4M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.4M | $28.8M | ||
| Q3 25 | $44.1M | $35.3M | ||
| Q2 25 | $75.8M | $-2.2M | ||
| Q1 25 | $35.0M | $13.4M | ||
| Q4 24 | $15.9M | $73.8M | ||
| Q3 24 | $12.5M | $66.1M | ||
| Q2 24 | $17.4M | $53.5M | ||
| Q1 24 | $18.3M | $54.6M |
| Q4 25 | $29.1M | $10.9M | ||
| Q3 25 | $38.0M | $14.6M | ||
| Q2 25 | $71.8M | $-17.6M | ||
| Q1 25 | $32.5M | $-11.4M | ||
| Q4 24 | $13.5M | $50.6M | ||
| Q3 24 | $7.7M | $43.0M | ||
| Q2 24 | $13.0M | $29.2M | ||
| Q1 24 | $13.7M | $26.5M |
| Q4 25 | 11.8% | 4.0% | ||
| Q3 25 | 16.7% | 5.8% | ||
| Q2 25 | 34.0% | -7.0% | ||
| Q1 25 | 16.5% | -5.0% | ||
| Q4 24 | 7.1% | 21.6% | ||
| Q3 24 | 5.2% | 18.4% | ||
| Q2 24 | 9.4% | 11.3% | ||
| Q1 24 | 10.0% | 10.5% |
| Q4 25 | 0.5% | 6.5% | ||
| Q3 25 | 2.7% | 8.3% | ||
| Q2 25 | 1.9% | 6.1% | ||
| Q1 25 | 1.3% | 10.9% | ||
| Q4 24 | 1.3% | 9.9% | ||
| Q3 24 | 3.2% | 9.9% | ||
| Q2 24 | 3.2% | 9.4% | ||
| Q1 24 | 3.3% | 11.1% |
| Q4 25 | 1.10× | 2.17× | ||
| Q3 25 | 1.66× | 4.73× | ||
| Q2 25 | 8.87× | -0.34× | ||
| Q1 25 | 2.23× | 3.58× | ||
| Q4 24 | — | 9.44× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.65× | ||
| Q1 24 | 1.00× | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANIP
| Sales Of Cortrophin Gel | $111.4M | 45% |
| Sales Of Generic Pharmaceutical Products | $100.8M | 41% |
| Sales Of ILUVIEN And YUTIQ | $19.8M | 8% |
| Sales Of Established Brands | $12.3M | 5% |
| Unapproved Products | $6.5M | 3% |
| Sales Of Royalties And Other Pharmaceutical Services | $2.7M | 1% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
