vs
Side-by-side financial comparison of BALCHEM CORP (BCPC) 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 $263.6M, roughly 1.0× BALCHEM CORP). BALCHEM CORP runs the higher net margin — 14.9% vs 4.8%, a 10.0% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs 9.8%). Over the past eight quarters, BALCHEM CORP's revenue compounded faster (4.9% CAGR vs 4.4%).
Balchem Corp is a global specialty chemicals and nutritional ingredients provider that develops, manufactures and distributes application-specific products for human nutrition, animal health, pharmaceutical and industrial end markets, serving customers across North America, Europe and Asia Pacific.
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.
BCPC vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $263.6M | $274.5M |
| Net Profit | $39.2M | $13.3M |
| Gross Margin | 35.6% | 36.1% |
| Operating Margin | 19.8% | 1.2% |
| Net Margin | 14.9% | 4.8% |
| Revenue YoY | 9.8% | 17.1% |
| Net Profit YoY | 16.8% | 69.8% |
| EPS (diluted) | $1.21 | $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 | $263.6M | $274.5M | ||
| Q3 25 | $267.6M | $250.8M | ||
| Q2 25 | $255.5M | $250.7M | ||
| Q1 25 | $250.5M | $227.8M | ||
| Q4 24 | $240.0M | $234.3M | ||
| Q3 24 | $239.9M | $233.1M | ||
| Q2 24 | $234.1M | $257.6M | ||
| Q1 24 | $239.7M | $252.0M |
| Q4 25 | $39.2M | $13.3M | ||
| Q3 25 | $40.3M | $7.5M | ||
| Q2 25 | $38.3M | $6.6M | ||
| Q1 25 | $37.1M | $3.8M | ||
| Q4 24 | $33.6M | $7.8M | ||
| Q3 24 | $33.8M | $-233.6M | ||
| Q2 24 | $32.1M | $20.2M | ||
| Q1 24 | $29.0M | $24.1M |
| Q4 25 | 35.6% | 36.1% | ||
| Q3 25 | 35.7% | 39.5% | ||
| Q2 25 | 36.4% | 37.3% | ||
| Q1 25 | 35.2% | 39.4% | ||
| Q4 24 | 36.0% | 38.6% | ||
| Q3 24 | 35.6% | 23.2% | ||
| Q2 24 | 35.5% | 37.3% | ||
| Q1 24 | 34.0% | 38.7% |
| Q4 25 | 19.8% | 1.2% | ||
| Q3 25 | 20.4% | 3.1% | ||
| Q2 25 | 20.1% | 0.0% | ||
| Q1 25 | 20.4% | 0.8% | ||
| Q4 24 | 19.8% | 6.0% | ||
| Q3 24 | 20.0% | -108.7% | ||
| Q2 24 | 19.6% | 4.7% | ||
| Q1 24 | 17.4% | 7.6% |
| Q4 25 | 14.9% | 4.8% | ||
| Q3 25 | 15.1% | 3.0% | ||
| Q2 25 | 15.0% | 2.6% | ||
| Q1 25 | 14.8% | 1.6% | ||
| Q4 24 | 14.0% | 3.3% | ||
| Q3 24 | 14.1% | -100.2% | ||
| Q2 24 | 13.7% | 7.8% | ||
| Q1 24 | 12.1% | 9.6% |
| Q4 25 | $1.21 | $0.30 | ||
| Q3 25 | $1.24 | $0.18 | ||
| Q2 25 | $1.17 | $0.16 | ||
| Q1 25 | $1.13 | $0.09 | ||
| Q4 24 | $1.03 | $0.27 | ||
| Q3 24 | $1.03 | $-5.33 | ||
| Q2 24 | $0.98 | $0.45 | ||
| Q1 24 | $0.89 | $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 | $74.6M | $839.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3B | $2.1B |
| Total Assets | $1.7B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.6M | $839.3M | ||
| Q3 25 | $65.1M | $870.4M | ||
| Q2 25 | $65.4M | $899.6M | ||
| Q1 25 | $49.9M | $926.9M | ||
| Q4 24 | $49.5M | $930.2M | ||
| Q3 24 | $73.7M | $1.0B | ||
| Q2 24 | $63.7M | $1.1B | ||
| Q1 24 | $60.3M | $1.1B |
| Q4 25 | $1.3B | $2.1B | ||
| Q3 25 | $1.3B | $2.1B | ||
| Q2 25 | $1.3B | $2.1B | ||
| Q1 25 | $1.2B | $2.1B | ||
| Q4 24 | $1.1B | $2.0B | ||
| Q3 24 | $1.2B | $2.1B | ||
| Q2 24 | $1.1B | $2.3B | ||
| Q1 24 | $1.1B | $2.3B |
| Q4 25 | $1.7B | $2.4B | ||
| Q3 25 | $1.7B | $2.4B | ||
| Q2 25 | $1.7B | $2.4B | ||
| Q1 25 | $1.6B | $2.3B | ||
| Q4 24 | $1.6B | $2.3B | ||
| Q3 24 | $1.6B | $2.4B | ||
| Q2 24 | $1.6B | $2.5B | ||
| Q1 24 | $1.6B | $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 | $67.3M | $28.8M |
| Free Cash FlowOCF − Capex | — | $10.9M |
| FCF MarginFCF / Revenue | — | 4.0% |
| Capex IntensityCapex / Revenue | — | 6.5% |
| Cash ConversionOCF / Net Profit | 1.72× | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $67.3M | $28.8M | ||
| Q3 25 | $65.6M | $35.3M | ||
| Q2 25 | $47.3M | $-2.2M | ||
| Q1 25 | $36.5M | $13.4M | ||
| Q4 24 | $52.3M | $73.8M | ||
| Q3 24 | $51.3M | $66.1M | ||
| Q2 24 | $45.0M | $53.5M | ||
| Q1 24 | $33.4M | $54.6M |
| 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 |
| 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% |
| 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% |
| Q4 25 | 1.72× | 2.17× | ||
| Q3 25 | 1.63× | 4.73× | ||
| Q2 25 | 1.23× | -0.34× | ||
| Q1 25 | 0.98× | 3.58× | ||
| Q4 24 | 1.56× | 9.44× | ||
| Q3 24 | 1.52× | — | ||
| Q2 24 | 1.40× | 2.65× | ||
| Q1 24 | 1.15× | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BCPC
| Human Nutrition And Health | $166.1M | 63% |
| Animal Nutrition And Health | $61.2M | 23% |
| Specialty Products | $34.8M | 13% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
