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Side-by-side financial comparison of Donnelley Financial Solutions, Inc. (DFIN) 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 $172.5M, roughly 1.6× Donnelley Financial Solutions, Inc.). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs 3.6%, a 1.2% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs 10.4%). Donnelley Financial Solutions, Inc. produced more free cash flow last quarter ($47.9M vs $10.9M). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -7.9%).
Donnelley Financial Solutions (DFIN) is a financial compliance company based in Chicago, Illinois, United States. The company provides software as a service (SaaS) products, software-enabled services (SeS), print, and compliance services related to US Securities and Exchange Commission regulations to companies in capital and investment markets.
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.
DFIN vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $172.5M | $274.5M |
| Net Profit | $6.2M | $13.3M |
| Gross Margin | — | 36.1% |
| Operating Margin | 8.3% | 1.2% |
| Net Margin | 3.6% | 4.8% |
| Revenue YoY | 10.4% | 17.1% |
| Net Profit YoY | -1.6% | 69.8% |
| EPS (diluted) | $0.31 | $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 | $172.5M | $274.5M | ||
| Q3 25 | $175.3M | $250.8M | ||
| Q2 25 | $218.1M | $250.7M | ||
| Q1 25 | $201.1M | $227.8M | ||
| Q4 24 | $156.3M | $234.3M | ||
| Q3 24 | $179.5M | $233.1M | ||
| Q2 24 | $242.7M | $257.6M | ||
| Q1 24 | $203.4M | $252.0M |
| Q4 25 | $6.2M | $13.3M | ||
| Q3 25 | $-40.9M | $7.5M | ||
| Q2 25 | $36.1M | $6.6M | ||
| Q1 25 | $31.0M | $3.8M | ||
| Q4 24 | $6.3M | $7.8M | ||
| Q3 24 | $8.7M | $-233.6M | ||
| Q2 24 | $44.1M | $20.2M | ||
| Q1 24 | $33.3M | $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 | 8.3% | 1.2% | ||
| Q3 25 | 16.1% | 3.1% | ||
| Q2 25 | 24.2% | 0.0% | ||
| Q1 25 | 22.8% | 0.8% | ||
| Q4 24 | 6.0% | 6.0% | ||
| Q3 24 | 10.1% | -108.7% | ||
| Q2 24 | 26.6% | 4.7% | ||
| Q1 24 | 21.9% | 7.6% |
| Q4 25 | 3.6% | 4.8% | ||
| Q3 25 | -23.3% | 3.0% | ||
| Q2 25 | 16.6% | 2.6% | ||
| Q1 25 | 15.4% | 1.6% | ||
| Q4 24 | 4.0% | 3.3% | ||
| Q3 24 | 4.8% | -100.2% | ||
| Q2 24 | 18.2% | 7.8% | ||
| Q1 24 | 16.4% | 9.6% |
| Q4 25 | $0.31 | $0.30 | ||
| Q3 25 | $-1.49 | $0.18 | ||
| Q2 25 | $1.28 | $0.16 | ||
| Q1 25 | $1.05 | $0.09 | ||
| Q4 24 | $0.21 | $0.27 | ||
| Q3 24 | $0.29 | $-5.33 | ||
| Q2 24 | $1.47 | $0.45 | ||
| Q1 24 | $1.09 | $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 | $24.5M | $839.3M |
| Total DebtLower is stronger | $171.3M | — |
| Stockholders' EquityBook value | $379.2M | $2.1B |
| Total Assets | $800.4M | $2.4B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.5M | $839.3M | ||
| Q3 25 | $22.7M | $870.4M | ||
| Q2 25 | $33.8M | $899.6M | ||
| Q1 25 | $16.2M | $926.9M | ||
| Q4 24 | $57.3M | $930.2M | ||
| Q3 24 | $33.6M | $1.0B | ||
| Q2 24 | $35.0M | $1.1B | ||
| Q1 24 | $43.7M | $1.1B |
| Q4 25 | $171.3M | — | ||
| Q3 25 | $154.7M | — | ||
| Q2 25 | $190.1M | — | ||
| Q1 25 | $189.5M | — | ||
| Q4 24 | $124.7M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $379.2M | $2.1B | ||
| Q3 25 | $423.1M | $2.1B | ||
| Q2 25 | $432.1M | $2.1B | ||
| Q1 25 | $419.9M | $2.1B | ||
| Q4 24 | $436.1M | $2.0B | ||
| Q3 24 | $444.5M | $2.1B | ||
| Q2 24 | $441.5M | $2.3B | ||
| Q1 24 | $408.9M | $2.3B |
| Q4 25 | $800.4M | $2.4B | ||
| Q3 25 | $816.3M | $2.4B | ||
| Q2 25 | $874.7M | $2.4B | ||
| Q1 25 | $852.8M | $2.3B | ||
| Q4 24 | $841.6M | $2.3B | ||
| Q3 24 | $843.6M | $2.4B | ||
| Q2 24 | $882.9M | $2.5B | ||
| Q1 24 | $867.8M | $2.6B |
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.45× | — | ||
| Q4 24 | 0.29× | — | ||
| 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 | $59.8M | $28.8M |
| Free Cash FlowOCF − Capex | $47.9M | $10.9M |
| FCF MarginFCF / Revenue | 27.8% | 4.0% |
| Capex IntensityCapex / Revenue | 6.9% | 6.5% |
| Cash ConversionOCF / Net Profit | 9.65× | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $107.8M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $59.8M | $28.8M | ||
| Q3 25 | $74.4M | $35.3M | ||
| Q2 25 | $68.4M | $-2.2M | ||
| Q1 25 | $-37.7M | $13.4M | ||
| Q4 24 | $56.4M | $73.8M | ||
| Q3 24 | $86.4M | $66.1M | ||
| Q2 24 | $56.2M | $53.5M | ||
| Q1 24 | $-27.9M | $54.6M |
| Q4 25 | $47.9M | $10.9M | ||
| Q3 25 | $59.2M | $14.6M | ||
| Q2 25 | $51.7M | $-17.6M | ||
| Q1 25 | $-51.0M | $-11.4M | ||
| Q4 24 | $41.3M | $50.6M | ||
| Q3 24 | $67.3M | $43.0M | ||
| Q2 24 | $36.8M | $29.2M | ||
| Q1 24 | $-40.2M | $26.5M |
| Q4 25 | 27.8% | 4.0% | ||
| Q3 25 | 33.8% | 5.8% | ||
| Q2 25 | 23.7% | -7.0% | ||
| Q1 25 | -25.4% | -5.0% | ||
| Q4 24 | 26.4% | 21.6% | ||
| Q3 24 | 37.5% | 18.4% | ||
| Q2 24 | 15.2% | 11.3% | ||
| Q1 24 | -19.8% | 10.5% |
| Q4 25 | 6.9% | 6.5% | ||
| Q3 25 | 8.7% | 8.3% | ||
| Q2 25 | 7.7% | 6.1% | ||
| Q1 25 | 6.6% | 10.9% | ||
| Q4 24 | 9.7% | 9.9% | ||
| Q3 24 | 10.6% | 9.9% | ||
| Q2 24 | 8.0% | 9.4% | ||
| Q1 24 | 6.0% | 11.1% |
| Q4 25 | 9.65× | 2.17× | ||
| Q3 25 | — | 4.73× | ||
| Q2 25 | 1.89× | -0.34× | ||
| Q1 25 | -1.22× | 3.58× | ||
| Q4 24 | 8.95× | 9.44× | ||
| Q3 24 | 9.93× | — | ||
| Q2 24 | 1.27× | 2.65× | ||
| Q1 24 | -0.84× | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DFIN
| Technology Service | $68.0M | 39% |
| Capital Markets Compliance And Communications Management | $61.6M | 36% |
| Investment Companies Software Solutions | $30.9M | 18% |
| Print And Distribution Service | $13.6M | 8% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
