vs
Side-by-side financial comparison of Claritev Corp (CTEV) 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 $246.6M, roughly 1.1× Claritev Corp). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs -32.7%, a 37.5% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs 6.2%). Claritev Corp produced more free cash flow last quarter ($36.4M vs $10.9M). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs 2.5%).
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.
CTEV vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $246.6M | $274.5M |
| Net Profit | $-80.6M | $13.3M |
| Gross Margin | — | 36.1% |
| Operating Margin | -3.1% | 1.2% |
| Net Margin | -32.7% | 4.8% |
| Revenue YoY | 6.2% | 17.1% |
| Net Profit YoY | 41.6% | 69.8% |
| EPS (diluted) | $-4.88 | $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 | $246.6M | $274.5M | ||
| Q3 25 | $246.0M | $250.8M | ||
| Q2 25 | $241.6M | $250.7M | ||
| Q1 25 | $231.3M | $227.8M | ||
| Q4 24 | $232.1M | $234.3M | ||
| Q3 24 | $230.5M | $233.1M | ||
| Q2 24 | $233.5M | $257.6M | ||
| Q1 24 | $234.5M | $252.0M |
| Q4 25 | $-80.6M | $13.3M | ||
| Q3 25 | $-69.8M | $7.5M | ||
| Q2 25 | $-62.6M | $6.6M | ||
| Q1 25 | $-71.3M | $3.8M | ||
| Q4 24 | $-138.0M | $7.8M | ||
| Q3 24 | $-391.4M | $-233.6M | ||
| Q2 24 | $-576.7M | $20.2M | ||
| Q1 24 | $-539.7M | $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 | -3.1% | 1.2% | ||
| Q3 25 | 4.1% | 3.1% | ||
| Q2 25 | 6.9% | 0.0% | ||
| Q1 25 | 4.2% | 0.8% | ||
| Q4 24 | -17.8% | 6.0% | ||
| Q3 24 | -146.7% | -108.7% | ||
| Q2 24 | -224.4% | 4.7% | ||
| Q1 24 | -207.4% | 7.6% |
| Q4 25 | -32.7% | 4.8% | ||
| Q3 25 | -28.4% | 3.0% | ||
| Q2 25 | -25.9% | 2.6% | ||
| Q1 25 | -30.8% | 1.6% | ||
| Q4 24 | -59.4% | 3.3% | ||
| Q3 24 | -169.8% | -100.2% | ||
| Q2 24 | -247.0% | 7.8% | ||
| Q1 24 | -230.1% | 9.6% |
| Q4 25 | $-4.88 | $0.30 | ||
| Q3 25 | $-4.23 | $0.18 | ||
| Q2 25 | $-3.81 | $0.16 | ||
| Q1 25 | $-4.38 | $0.09 | ||
| Q4 24 | $-8.49 | $0.27 | ||
| Q3 24 | $-24.25 | $-5.33 | ||
| Q2 24 | $-35.78 | $0.45 | ||
| Q1 24 | $-33.40 | $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 | $16.8M | $839.3M |
| Total DebtLower is stronger | $4.6B | — |
| Stockholders' EquityBook value | $-173.9M | $2.1B |
| Total Assets | $4.9B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.8M | $839.3M | ||
| Q3 25 | $39.2M | $870.4M | ||
| Q2 25 | $56.4M | $899.6M | ||
| Q1 25 | $23.1M | $926.9M | ||
| Q4 24 | $16.8M | $930.2M | ||
| Q3 24 | $86.6M | $1.0B | ||
| Q2 24 | $48.8M | $1.1B | ||
| Q1 24 | $58.7M | $1.1B |
| Q4 25 | $4.6B | — | ||
| Q3 25 | $4.5B | — | ||
| Q2 25 | $4.5B | — | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $4.5B | — | ||
| Q1 24 | $4.5B | — |
| Q4 25 | $-173.9M | $2.1B | ||
| Q3 25 | $-101.8M | $2.1B | ||
| Q2 25 | $-39.9M | $2.1B | ||
| Q1 25 | $14.8M | $2.1B | ||
| Q4 24 | $84.0M | $2.0B | ||
| Q3 24 | $207.6M | $2.1B | ||
| Q2 24 | $603.4M | $2.3B | ||
| Q1 24 | $1.2B | $2.3B |
| Q4 25 | $4.9B | $2.4B | ||
| Q3 25 | $5.0B | $2.4B | ||
| Q2 25 | $5.1B | $2.4B | ||
| Q1 25 | $5.1B | $2.3B | ||
| Q4 24 | $5.2B | $2.3B | ||
| Q3 24 | $5.3B | $2.4B | ||
| Q2 24 | $5.7B | $2.5B | ||
| Q1 24 | $6.4B | $2.6B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 304.87× | — | ||
| Q4 24 | 53.67× | — | ||
| Q3 24 | 21.73× | — | ||
| Q2 24 | 7.48× | — | ||
| Q1 24 | 3.85× | — |
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 | $66.3M | $28.8M |
| Free Cash FlowOCF − Capex | $36.4M | $10.9M |
| FCF MarginFCF / Revenue | 14.8% | 4.0% |
| Capex IntensityCapex / Revenue | 12.1% | 6.5% |
| Cash ConversionOCF / Net Profit | — | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $-12.3M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.3M | $28.8M | ||
| Q3 25 | $19.9M | $35.3M | ||
| Q2 25 | $61.2M | $-2.2M | ||
| Q1 25 | $-30.1M | $13.4M | ||
| Q4 24 | $-33.4M | $73.8M | ||
| Q3 24 | $72.8M | $66.1M | ||
| Q2 24 | $18.5M | $53.5M | ||
| Q1 24 | $49.7M | $54.6M |
| Q4 25 | $36.4M | $10.9M | ||
| Q3 25 | $-16.3M | $14.6M | ||
| Q2 25 | $36.6M | $-17.6M | ||
| Q1 25 | $-68.9M | $-11.4M | ||
| Q4 24 | $-63.8M | $50.6M | ||
| Q3 24 | $41.1M | $43.0M | ||
| Q2 24 | $-7.0M | $29.2M | ||
| Q1 24 | $19.2M | $26.5M |
| Q4 25 | 14.8% | 4.0% | ||
| Q3 25 | -6.6% | 5.8% | ||
| Q2 25 | 15.2% | -7.0% | ||
| Q1 25 | -29.8% | -5.0% | ||
| Q4 24 | -27.5% | 21.6% | ||
| Q3 24 | 17.8% | 18.4% | ||
| Q2 24 | -3.0% | 11.3% | ||
| Q1 24 | 8.2% | 10.5% |
| Q4 25 | 12.1% | 6.5% | ||
| Q3 25 | 14.7% | 8.3% | ||
| Q2 25 | 10.2% | 6.1% | ||
| Q1 25 | 16.8% | 10.9% | ||
| Q4 24 | 13.1% | 9.9% | ||
| Q3 24 | 13.8% | 9.9% | ||
| Q2 24 | 10.9% | 9.4% | ||
| Q1 24 | 13.0% | 11.1% |
| Q4 25 | — | 2.17× | ||
| Q3 25 | — | 4.73× | ||
| Q2 25 | — | -0.34× | ||
| Q1 25 | — | 3.58× | ||
| Q4 24 | — | 9.44× | ||
| Q3 24 | — | — | ||
| 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
CTEV
Segment breakdown not available.
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
