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Side-by-side financial comparison of Commercial Vehicle Group, Inc. (CVGI) 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 $154.8M, roughly 1.8× Commercial Vehicle Group, Inc.). On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -5.2%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $8.7M). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -10.8%).
WABCO Holdings, Inc. was a U.S.-based provider of electronic braking, stability, suspension and transmission automation systems for heavy-duty commercial vehicles. In 2007, the Vehicle Control Systems was spun off as WABCO Holdings Inc., an American provider of electronic braking, stability, suspension and transmission automation systems for heavy-duty commercial vehicles. Their products are present in many commercial vehicles such as trucks, buses, trailers and off-highway vehicles but they ...
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.
CVGI vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $154.8M | $274.5M |
| Net Profit | — | $13.3M |
| Gross Margin | 9.7% | 36.1% |
| Operating Margin | -1.2% | 1.2% |
| Net Margin | — | 4.8% |
| Revenue YoY | -5.2% | 17.1% |
| Net Profit YoY | — | 69.8% |
| EPS (diluted) | — | $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 | $154.8M | $274.5M | ||
| Q3 25 | $152.5M | $250.8M | ||
| Q2 25 | $172.0M | $250.7M | ||
| Q1 25 | $169.8M | $227.8M | ||
| Q4 24 | $163.3M | $234.3M | ||
| Q3 24 | $171.8M | $233.1M | ||
| Q2 24 | $193.7M | $257.6M | ||
| Q1 24 | $194.6M | $252.0M |
| Q4 25 | — | $13.3M | ||
| Q3 25 | $-7.1M | $7.5M | ||
| Q2 25 | $-4.8M | $6.6M | ||
| Q1 25 | $-4.3M | $3.8M | ||
| Q4 24 | — | $7.8M | ||
| Q3 24 | $9.5M | $-233.6M | ||
| Q2 24 | $-1.6M | $20.2M | ||
| Q1 24 | $2.9M | $24.1M |
| Q4 25 | 9.7% | 36.1% | ||
| Q3 25 | 10.5% | 39.5% | ||
| Q2 25 | 11.4% | 37.3% | ||
| Q1 25 | 10.5% | 39.4% | ||
| Q4 24 | 8.0% | 38.6% | ||
| Q3 24 | 9.6% | 23.2% | ||
| Q2 24 | 10.6% | 37.3% | ||
| Q1 24 | 11.9% | 38.7% |
| Q4 25 | -1.2% | 1.2% | ||
| Q3 25 | -0.7% | 3.1% | ||
| Q2 25 | 0.5% | 0.0% | ||
| Q1 25 | 0.8% | 0.8% | ||
| Q4 24 | -3.2% | 6.0% | ||
| Q3 24 | -0.6% | -108.7% | ||
| Q2 24 | 0.5% | 4.7% | ||
| Q1 24 | 2.3% | 7.6% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | -4.6% | 3.0% | ||
| Q2 25 | -2.8% | 2.6% | ||
| Q1 25 | -2.5% | 1.6% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | 5.5% | -100.2% | ||
| Q2 24 | -0.8% | 7.8% | ||
| Q1 24 | 1.5% | 9.6% |
| Q4 25 | — | $0.30 | ||
| Q3 25 | — | $0.18 | ||
| Q2 25 | — | $0.16 | ||
| Q1 25 | — | $0.09 | ||
| Q4 24 | — | $0.27 | ||
| Q3 24 | — | $-5.33 | ||
| Q2 24 | $-0.05 | $0.45 | ||
| Q1 24 | $0.09 | $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 | — | $839.3M |
| Total DebtLower is stronger | $104.9M | — |
| Stockholders' EquityBook value | $133.4M | $2.1B |
| Total Assets | $391.7M | $2.4B |
| Debt / EquityLower = less leverage | 0.79× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $839.3M | ||
| Q3 25 | — | $870.4M | ||
| Q2 25 | — | $899.6M | ||
| Q1 25 | — | $926.9M | ||
| Q4 24 | — | $930.2M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $104.9M | — | ||
| Q3 25 | $108.2M | — | ||
| Q2 25 | $118.2M | — | ||
| Q1 25 | $117.4M | — | ||
| Q4 24 | $135.5M | — | ||
| Q3 24 | $128.8M | — | ||
| Q2 24 | $142.0M | — | ||
| Q1 24 | $155.7M | — |
| Q4 25 | $133.4M | $2.1B | ||
| Q3 25 | $136.5M | $2.1B | ||
| Q2 25 | $142.6M | $2.1B | ||
| Q1 25 | $136.7M | $2.1B | ||
| Q4 24 | $135.6M | $2.0B | ||
| Q3 24 | $179.3M | $2.1B | ||
| Q2 24 | $169.6M | $2.3B | ||
| Q1 24 | $175.5M | $2.3B |
| Q4 25 | $391.7M | $2.4B | ||
| Q3 25 | $400.3M | $2.4B | ||
| Q2 25 | $429.8M | $2.4B | ||
| Q1 25 | $419.8M | $2.3B | ||
| Q4 24 | $424.6M | $2.3B | ||
| Q3 24 | $495.3M | $2.4B | ||
| Q2 24 | $503.2M | $2.5B | ||
| Q1 24 | $509.2M | $2.6B |
| Q4 25 | 0.79× | — | ||
| Q3 25 | 0.79× | — | ||
| Q2 25 | 0.83× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 1.00× | — | ||
| Q3 24 | 0.72× | — | ||
| Q2 24 | 0.84× | — | ||
| Q1 24 | 0.89× | — |
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 | $12.3M | $28.8M |
| Free Cash FlowOCF − Capex | $8.7M | $10.9M |
| FCF MarginFCF / Revenue | 5.6% | 4.0% |
| Capex IntensityCapex / Revenue | 2.3% | 6.5% |
| Cash ConversionOCF / Net Profit | — | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $34.0M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.3M | $28.8M | ||
| Q3 25 | $-1.7M | $35.3M | ||
| Q2 25 | $18.9M | $-2.2M | ||
| Q1 25 | $15.2M | $13.4M | ||
| Q4 24 | $-26.6M | $73.8M | ||
| Q3 24 | $-17.1M | $66.1M | ||
| Q2 24 | $12.6M | $53.5M | ||
| Q1 24 | $-2.4M | $54.6M |
| Q4 25 | $8.7M | $10.9M | ||
| Q3 25 | $-3.5M | $14.6M | ||
| Q2 25 | $17.4M | $-17.6M | ||
| Q1 25 | $11.4M | $-11.4M | ||
| Q4 24 | $-30.6M | $50.6M | ||
| Q3 24 | $-20.3M | $43.0M | ||
| Q2 24 | $6.4M | $29.2M | ||
| Q1 24 | $-7.4M | $26.5M |
| Q4 25 | 5.6% | 4.0% | ||
| Q3 25 | -2.3% | 5.8% | ||
| Q2 25 | 10.1% | -7.0% | ||
| Q1 25 | 6.7% | -5.0% | ||
| Q4 24 | -18.7% | 21.6% | ||
| Q3 24 | -11.8% | 18.4% | ||
| Q2 24 | 3.3% | 11.3% | ||
| Q1 24 | -3.8% | 10.5% |
| Q4 25 | 2.3% | 6.5% | ||
| Q3 25 | 1.2% | 8.3% | ||
| Q2 25 | 0.9% | 6.1% | ||
| Q1 25 | 2.2% | 10.9% | ||
| Q4 24 | 2.4% | 9.9% | ||
| Q3 24 | 1.9% | 9.9% | ||
| Q2 24 | 3.2% | 9.4% | ||
| Q1 24 | 2.6% | 11.1% |
| Q4 25 | — | 2.17× | ||
| Q3 25 | — | 4.73× | ||
| Q2 25 | — | -0.34× | ||
| Q1 25 | — | 3.58× | ||
| Q4 24 | — | 9.44× | ||
| Q3 24 | -1.79× | — | ||
| Q2 24 | — | 2.65× | ||
| Q1 24 | -0.80× | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CVGI
| Global Seating | $70.7M | 46% |
| Global Electrical Systems | $49.7M | 32% |
| Trim Systems And Components | $34.4M | 22% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
