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Side-by-side financial comparison of Civeo Corp (CVEO) 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 $161.6M, roughly 1.7× Civeo Corp). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs -4.0%, a 8.8% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs 7.1%). Civeo Corp produced more free cash flow last quarter ($14.5M vs $10.9M). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -1.4%).
The Civeo Corporation is an American accommodation services multinational corporation. It is a spin-off of Oil States International. It is a public company listed on the New York Stock Exchange.
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.
CVEO vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $161.6M | $274.5M |
| Net Profit | $-6.5M | $13.3M |
| Gross Margin | 22.7% | 36.1% |
| Operating Margin | -0.1% | 1.2% |
| Net Margin | -4.0% | 4.8% |
| Revenue YoY | 7.1% | 17.1% |
| Net Profit YoY | 58.1% | 69.8% |
| EPS (diluted) | $-0.58 | $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 | $161.6M | $274.5M | ||
| Q3 25 | $170.5M | $250.8M | ||
| Q2 25 | $162.7M | $250.7M | ||
| Q1 25 | $144.0M | $227.8M | ||
| Q4 24 | $151.0M | $234.3M | ||
| Q3 24 | $176.3M | $233.1M | ||
| Q2 24 | $188.7M | $257.6M | ||
| Q1 24 | $166.1M | $252.0M |
| Q4 25 | $-6.5M | $13.3M | ||
| Q3 25 | $-455.0K | $7.5M | ||
| Q2 25 | $-3.3M | $6.6M | ||
| Q1 25 | $-9.8M | $3.8M | ||
| Q4 24 | $-15.4M | $7.8M | ||
| Q3 24 | $-5.1M | $-233.6M | ||
| Q2 24 | $8.2M | $20.2M | ||
| Q1 24 | $-5.1M | $24.1M |
| Q4 25 | 22.7% | 36.1% | ||
| Q3 25 | 25.7% | 39.5% | ||
| Q2 25 | 25.3% | 37.3% | ||
| Q1 25 | 20.4% | 39.4% | ||
| Q4 24 | 18.6% | 38.6% | ||
| Q3 24 | 21.4% | 23.2% | ||
| Q2 24 | 25.4% | 37.3% | ||
| Q1 24 | 21.5% | 38.7% |
| Q4 25 | -0.1% | 1.2% | ||
| Q3 25 | 4.1% | 3.1% | ||
| Q2 25 | 1.7% | 0.0% | ||
| Q1 25 | -3.8% | 0.8% | ||
| Q4 24 | -6.7% | 6.0% | ||
| Q3 24 | 0.0% | -108.7% | ||
| Q2 24 | 6.9% | 4.7% | ||
| Q1 24 | -1.1% | 7.6% |
| Q4 25 | -4.0% | 4.8% | ||
| Q3 25 | -0.3% | 3.0% | ||
| Q2 25 | -2.0% | 2.6% | ||
| Q1 25 | -6.8% | 1.6% | ||
| Q4 24 | -10.2% | 3.3% | ||
| Q3 24 | -2.9% | -100.2% | ||
| Q2 24 | 4.4% | 7.8% | ||
| Q1 24 | -3.1% | 9.6% |
| Q4 25 | $-0.58 | $0.30 | ||
| Q3 25 | $-0.04 | $0.18 | ||
| Q2 25 | $-0.25 | $0.16 | ||
| Q1 25 | $-0.72 | $0.09 | ||
| Q4 24 | $-1.04 | $0.27 | ||
| Q3 24 | $-0.36 | $-5.33 | ||
| Q2 24 | $0.56 | $0.45 | ||
| Q1 24 | $-0.35 | $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 | $14.4M | $839.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $174.4M | $2.1B |
| Total Assets | $477.4M | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.4M | $839.3M | ||
| Q3 25 | $12.0M | $870.4M | ||
| Q2 25 | $14.6M | $899.6M | ||
| Q1 25 | $28.4M | $926.9M | ||
| Q4 24 | $5.2M | $930.2M | ||
| Q3 24 | $17.9M | $1.0B | ||
| Q2 24 | $7.4M | $1.1B | ||
| Q1 24 | $16.8M | $1.1B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $43.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $174.4M | $2.1B | ||
| Q3 25 | $182.5M | $2.1B | ||
| Q2 25 | $209.4M | $2.1B | ||
| Q1 25 | $220.7M | $2.1B | ||
| Q4 24 | $236.4M | $2.0B | ||
| Q3 24 | $282.2M | $2.1B | ||
| Q2 24 | $297.4M | $2.3B | ||
| Q1 24 | $297.4M | $2.3B |
| Q4 25 | $477.4M | $2.4B | ||
| Q3 25 | $491.1M | $2.4B | ||
| Q2 25 | $508.8M | $2.4B | ||
| Q1 25 | $423.8M | $2.3B | ||
| Q4 24 | $405.1M | $2.3B | ||
| Q3 24 | $477.6M | $2.4B | ||
| Q2 24 | $483.2M | $2.5B | ||
| Q1 24 | $513.1M | $2.6B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.18× | — | ||
| 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 | $19.3M | $28.8M |
| Free Cash FlowOCF − Capex | $14.5M | $10.9M |
| FCF MarginFCF / Revenue | 8.9% | 4.0% |
| Capex IntensityCapex / Revenue | 3.0% | 6.5% |
| Cash ConversionOCF / Net Profit | — | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $2.1M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.3M | $28.8M | ||
| Q3 25 | $13.8M | $35.3M | ||
| Q2 25 | $-2.3M | $-2.2M | ||
| Q1 25 | $-8.4M | $13.4M | ||
| Q4 24 | $9.5M | $73.8M | ||
| Q3 24 | $35.7M | $66.1M | ||
| Q2 24 | $32.4M | $53.5M | ||
| Q1 24 | $6.0M | $54.6M |
| Q4 25 | $14.5M | $10.9M | ||
| Q3 25 | $8.2M | $14.6M | ||
| Q2 25 | $-6.8M | $-17.6M | ||
| Q1 25 | $-13.7M | $-11.4M | ||
| Q4 24 | $1.8M | $50.6M | ||
| Q3 24 | $28.2M | $43.0M | ||
| Q2 24 | $27.0M | $29.2M | ||
| Q1 24 | $372.0K | $26.5M |
| Q4 25 | 8.9% | 4.0% | ||
| Q3 25 | 4.8% | 5.8% | ||
| Q2 25 | -4.2% | -7.0% | ||
| Q1 25 | -9.5% | -5.0% | ||
| Q4 24 | 1.2% | 21.6% | ||
| Q3 24 | 16.0% | 18.4% | ||
| Q2 24 | 14.3% | 11.3% | ||
| Q1 24 | 0.2% | 10.5% |
| Q4 25 | 3.0% | 6.5% | ||
| Q3 25 | 3.3% | 8.3% | ||
| Q2 25 | 2.8% | 6.1% | ||
| Q1 25 | 3.7% | 10.9% | ||
| Q4 24 | 5.1% | 9.9% | ||
| Q3 24 | 4.2% | 9.9% | ||
| Q2 24 | 2.8% | 9.4% | ||
| Q1 24 | 3.4% | 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 | 3.93× | 2.65× | ||
| Q1 24 | — | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CVEO
Segment breakdown not available.
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
