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Side-by-side financial comparison of DIVERSIFIED HEALTHCARE TRUST (DHC) and IPG PHOTONICS CORP (IPGP). Click either name above to swap in a different company.
DIVERSIFIED HEALTHCARE TRUST is the larger business by last-quarter revenue ($379.6M vs $274.5M, roughly 1.4× IPG PHOTONICS CORP). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs -5.6%, a 10.4% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -0.0%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $-166.4M). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs 1.2%).
GE Healthcare Technologies, Inc. is an American health technology company based in Chicago, Illinois. The company, which stylizes its own name as GE HealthCare, operates four divisions: Medical imaging, which includes molecular imaging, computed tomography, magnetic resonance, women’s health screening and X-ray systems; Ultrasound; Patient Care Solutions, which is focused on remote patient monitoring, anesthesia and respiratory care, diagnostic cardiology, and infant care; and Pharmaceutical ...
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.
DHC vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $379.6M | $274.5M |
| Net Profit | $-21.2M | $13.3M |
| Gross Margin | — | 36.1% |
| Operating Margin | -12.6% | 1.2% |
| Net Margin | -5.6% | 4.8% |
| Revenue YoY | -0.0% | 17.1% |
| Net Profit YoY | 75.7% | 69.8% |
| EPS (diluted) | $-0.09 | $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 | $379.6M | $274.5M | ||
| Q3 25 | $388.7M | $250.8M | ||
| Q2 25 | $382.7M | $250.7M | ||
| Q1 25 | $386.9M | $227.8M | ||
| Q4 24 | $379.6M | $234.3M | ||
| Q3 24 | $373.6M | $233.1M | ||
| Q2 24 | $371.4M | $257.6M | ||
| Q1 24 | $370.8M | $252.0M |
| Q4 25 | $-21.2M | $13.3M | ||
| Q3 25 | $-164.0M | $7.5M | ||
| Q2 25 | $-91.6M | $6.6M | ||
| Q1 25 | $-9.0M | $3.8M | ||
| Q4 24 | $-87.4M | $7.8M | ||
| Q3 24 | $-98.7M | $-233.6M | ||
| Q2 24 | $-97.9M | $20.2M | ||
| Q1 24 | $-86.3M | $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 | -12.6% | 1.2% | ||
| Q3 25 | -43.4% | 3.1% | ||
| Q2 25 | -24.5% | 0.0% | ||
| Q1 25 | -2.7% | 0.8% | ||
| Q4 24 | -26.1% | 6.0% | ||
| Q3 24 | -26.5% | -108.7% | ||
| Q2 24 | -23.0% | 4.7% | ||
| Q1 24 | -23.7% | 7.6% |
| Q4 25 | -5.6% | 4.8% | ||
| Q3 25 | -42.2% | 3.0% | ||
| Q2 25 | -23.9% | 2.6% | ||
| Q1 25 | -2.3% | 1.6% | ||
| Q4 24 | -23.0% | 3.3% | ||
| Q3 24 | -26.4% | -100.2% | ||
| Q2 24 | -26.3% | 7.8% | ||
| Q1 24 | -23.3% | 9.6% |
| Q4 25 | $-0.09 | $0.30 | ||
| Q3 25 | $-0.68 | $0.18 | ||
| Q2 25 | $-0.38 | $0.16 | ||
| Q1 25 | $-0.04 | $0.09 | ||
| Q4 24 | $-0.37 | $0.27 | ||
| Q3 24 | $-0.41 | $-5.33 | ||
| Q2 24 | $-0.41 | $0.45 | ||
| Q1 24 | $-0.36 | $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 | $105.4M | $839.3M |
| Total DebtLower is stronger | $2.4B | — |
| Stockholders' EquityBook value | $1.7B | $2.1B |
| Total Assets | $4.4B | $2.4B |
| Debt / EquityLower = less leverage | 1.47× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.4M | $839.3M | ||
| Q3 25 | $201.4M | $870.4M | ||
| Q2 25 | $141.8M | $899.6M | ||
| Q1 25 | $302.6M | $926.9M | ||
| Q4 24 | $144.6M | $930.2M | ||
| Q3 24 | $256.5M | $1.0B | ||
| Q2 24 | $265.6M | $1.1B | ||
| Q1 24 | $207.1M | $1.1B |
| Q4 25 | $2.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.7B | $2.1B | ||
| Q3 25 | $1.7B | $2.1B | ||
| Q2 25 | $1.9B | $2.1B | ||
| Q1 25 | $1.9B | $2.1B | ||
| Q4 24 | $2.0B | $2.0B | ||
| Q3 24 | $2.0B | $2.1B | ||
| Q2 24 | $2.1B | $2.3B | ||
| Q1 24 | $2.2B | $2.3B |
| Q4 25 | $4.4B | $2.4B | ||
| Q3 25 | $4.7B | $2.4B | ||
| Q2 25 | $4.8B | $2.4B | ||
| Q1 25 | $5.0B | $2.3B | ||
| Q4 24 | $5.1B | $2.3B | ||
| Q3 24 | $5.3B | $2.4B | ||
| Q2 24 | $5.3B | $2.5B | ||
| Q1 24 | $5.3B | $2.6B |
| Q4 25 | 1.47× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.56× | — | ||
| 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 | $-19.6M | $28.8M |
| Free Cash FlowOCF − Capex | $-166.4M | $10.9M |
| FCF MarginFCF / Revenue | -43.8% | 4.0% |
| Capex IntensityCapex / Revenue | 38.7% | 6.5% |
| Cash ConversionOCF / Net Profit | — | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $-280.3M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-19.6M | $28.8M | ||
| Q3 25 | $-49.3M | $35.3M | ||
| Q2 25 | $53.0M | $-2.2M | ||
| Q1 25 | $-3.2M | $13.4M | ||
| Q4 24 | $112.2M | $73.8M | ||
| Q3 24 | $21.1M | $66.1M | ||
| Q2 24 | $44.3M | $53.5M | ||
| Q1 24 | $28.6M | $54.6M |
| Q4 25 | $-166.4M | $10.9M | ||
| Q3 25 | $-89.8M | $14.6M | ||
| Q2 25 | $18.8M | $-17.6M | ||
| Q1 25 | $-42.9M | $-11.4M | ||
| Q4 24 | $-89.5M | $50.6M | ||
| Q3 24 | $-26.1M | $43.0M | ||
| Q2 24 | $3.3M | $29.2M | ||
| Q1 24 | $-18.1M | $26.5M |
| Q4 25 | -43.8% | 4.0% | ||
| Q3 25 | -23.1% | 5.8% | ||
| Q2 25 | 4.9% | -7.0% | ||
| Q1 25 | -11.1% | -5.0% | ||
| Q4 24 | -23.6% | 21.6% | ||
| Q3 24 | -7.0% | 18.4% | ||
| Q2 24 | 0.9% | 11.3% | ||
| Q1 24 | -4.9% | 10.5% |
| Q4 25 | 38.7% | 6.5% | ||
| Q3 25 | 10.4% | 8.3% | ||
| Q2 25 | 8.9% | 6.1% | ||
| Q1 25 | 10.2% | 10.9% | ||
| Q4 24 | 53.1% | 9.9% | ||
| Q3 24 | 12.6% | 9.9% | ||
| Q2 24 | 11.0% | 9.4% | ||
| Q1 24 | 12.6% | 11.1% |
| Q4 25 | — | 2.17× | ||
| Q3 25 | — | 4.73× | ||
| Q2 25 | — | -0.34× | ||
| Q1 25 | — | 3.58× | ||
| Q4 24 | — | 9.44× | ||
| Q3 24 | — | — | ||
| 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
DHC
| Senior Housing Operating Portfolio Segment | $323.4M | 85% |
| Rental Income | $56.2M | 15% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
