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Side-by-side financial comparison of DONEGAL GROUP INC (DGICA) 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 $236.0M, roughly 1.2× DONEGAL GROUP INC). DONEGAL GROUP INC runs the higher net margin — 4.9% vs 4.8%, a 0.0% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -3.7%). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -2.2%).
Donegal Group Inc. is a regional US insurance holding company offering personal and commercial property and casualty insurance products. It serves Mid-Atlantic, Midwest, and Southern US customers, delivering tailored coverage for individuals, families, and small to medium businesses.
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.
DGICA vs IPGP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $236.0M | $274.5M |
| Net Profit | $11.5M | $13.3M |
| Gross Margin | — | 36.1% |
| Operating Margin | — | 1.2% |
| Net Margin | 4.9% | 4.8% |
| Revenue YoY | -3.7% | 17.1% |
| Net Profit YoY | -54.3% | 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.
| Q1 26 | $236.0M | — | ||
| Q4 25 | $239.8M | $274.5M | ||
| Q3 25 | $245.9M | $250.8M | ||
| Q2 25 | $247.1M | $250.7M | ||
| Q1 25 | $245.2M | $227.8M | ||
| Q4 24 | $250.0M | $234.3M | ||
| Q3 24 | $251.7M | $233.1M | ||
| Q2 24 | $246.8M | $257.6M |
| Q1 26 | $11.5M | — | ||
| Q4 25 | $17.2M | $13.3M | ||
| Q3 25 | $20.1M | $7.5M | ||
| Q2 25 | $16.9M | $6.6M | ||
| Q1 25 | $25.2M | $3.8M | ||
| Q4 24 | $24.0M | $7.8M | ||
| Q3 24 | $16.8M | $-233.6M | ||
| Q2 24 | $4.2M | $20.2M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 8.7% | 1.2% | ||
| Q3 25 | 10.2% | 3.1% | ||
| Q2 25 | 8.3% | 0.0% | ||
| Q1 25 | 12.7% | 0.8% | ||
| Q4 24 | 11.9% | 6.0% | ||
| Q3 24 | 8.1% | -108.7% | ||
| Q2 24 | 2.0% | 4.7% |
| Q1 26 | 4.9% | — | ||
| Q4 25 | 7.2% | 4.8% | ||
| Q3 25 | 8.2% | 3.0% | ||
| Q2 25 | 6.8% | 2.6% | ||
| Q1 25 | 10.3% | 1.6% | ||
| Q4 24 | 9.6% | 3.3% | ||
| Q3 24 | 6.7% | -100.2% | ||
| Q2 24 | 1.7% | 7.8% |
| Q1 26 | — | — | ||
| 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 | — | $0.45 |
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 | — | — |
| Stockholders' EquityBook value | $649.1M | $2.1B |
| Total Assets | $2.4B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| 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 26 | $649.1M | — | ||
| Q4 25 | $640.4M | $2.1B | ||
| Q3 25 | $627.4M | $2.1B | ||
| Q2 25 | $605.7M | $2.1B | ||
| Q1 25 | $584.7M | $2.1B | ||
| Q4 24 | $545.8M | $2.0B | ||
| Q3 24 | $513.4M | $2.1B | ||
| Q2 24 | $484.1M | $2.3B |
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.4B | $2.4B | ||
| Q3 25 | $2.4B | $2.4B | ||
| Q2 25 | $2.4B | $2.4B | ||
| Q1 25 | $2.4B | $2.3B | ||
| Q4 24 | $2.3B | $2.3B | ||
| Q3 24 | $2.3B | $2.4B | ||
| Q2 24 | $2.3B | $2.5B |
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 | — | $28.8M |
| Free Cash FlowOCF − Capex | — | $10.9M |
| FCF MarginFCF / Revenue | — | 4.0% |
| Capex IntensityCapex / Revenue | — | 6.5% |
| Cash ConversionOCF / Net Profit | — | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $70.2M | $28.8M | ||
| Q3 25 | $22.4M | $35.3M | ||
| Q2 25 | $12.1M | $-2.2M | ||
| Q1 25 | $25.7M | $13.4M | ||
| Q4 24 | $67.4M | $73.8M | ||
| Q3 24 | $12.7M | $66.1M | ||
| Q2 24 | $21.7M | $53.5M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 4.08× | 2.17× | ||
| Q3 25 | 1.11× | 4.73× | ||
| Q2 25 | 0.72× | -0.34× | ||
| Q1 25 | 1.02× | 3.58× | ||
| Q4 24 | 2.81× | 9.44× | ||
| Q3 24 | 0.76× | — | ||
| Q2 24 | 5.22× | 2.65× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DGICA
Segment breakdown not available.
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
