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Side-by-side financial comparison of Douglas Elliman Inc. (DOUG) 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 $245.4M, roughly 1.1× Douglas Elliman Inc.). Douglas Elliman Inc. runs the higher net margin — 27.9% vs 4.8%, a 23.1% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs 0.9%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $-14.7M). Over the past eight quarters, Douglas Elliman Inc.'s revenue compounded faster (10.7% CAGR vs 4.4%).
Douglas Elliman Inc. is a leading U.S.-based residential real estate brokerage firm. It offers luxury property sales, rentals, property management, and advisory solutions, serving high-net-worth clients across key metro markets including New York, California, Florida, and Texas.
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.
DOUG vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $245.4M | $274.5M |
| Net Profit | $68.6M | $13.3M |
| Gross Margin | — | 36.1% |
| Operating Margin | 27.3% | 1.2% |
| Net Margin | 27.9% | 4.8% |
| Revenue YoY | 0.9% | 17.1% |
| Net Profit YoY | 1243.4% | 69.8% |
| EPS (diluted) | $0.80 | $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 | $245.4M | $274.5M | ||
| Q3 25 | $262.8M | $250.8M | ||
| Q2 25 | $271.4M | $250.7M | ||
| Q1 25 | $253.4M | $227.8M | ||
| Q4 24 | $243.3M | $234.3M | ||
| Q3 24 | $266.3M | $233.1M | ||
| Q2 24 | $285.8M | $257.6M | ||
| Q1 24 | $200.2M | $252.0M |
| Q4 25 | $68.6M | $13.3M | ||
| Q3 25 | $-24.7M | $7.5M | ||
| Q2 25 | $-22.7M | $6.6M | ||
| Q1 25 | $-6.0M | $3.8M | ||
| Q4 24 | $-6.0M | $7.8M | ||
| Q3 24 | $-27.2M | $-233.6M | ||
| Q2 24 | $-1.7M | $20.2M | ||
| Q1 24 | $-41.5M | $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 | 27.3% | 1.2% | ||
| Q3 25 | -4.1% | 3.1% | ||
| Q2 25 | -2.0% | 0.0% | ||
| Q1 25 | -2.1% | 0.8% | ||
| Q4 24 | -6.7% | 6.0% | ||
| Q3 24 | -2.8% | -108.7% | ||
| Q2 24 | -1.3% | 4.7% | ||
| Q1 24 | -20.7% | 7.6% |
| Q4 25 | 27.9% | 4.8% | ||
| Q3 25 | -9.4% | 3.0% | ||
| Q2 25 | -8.4% | 2.6% | ||
| Q1 25 | -2.4% | 1.6% | ||
| Q4 24 | -2.5% | 3.3% | ||
| Q3 24 | -10.2% | -100.2% | ||
| Q2 24 | -0.6% | 7.8% | ||
| Q1 24 | -20.7% | 9.6% |
| Q4 25 | $0.80 | $0.30 | ||
| Q3 25 | $-0.29 | $0.18 | ||
| Q2 25 | $-0.27 | $0.16 | ||
| Q1 25 | $-0.07 | $0.09 | ||
| Q4 24 | $-0.06 | $0.27 | ||
| Q3 24 | $-0.33 | $-5.33 | ||
| Q2 24 | $-0.02 | $0.45 | ||
| Q1 24 | $-0.50 | $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 | $115.5M | $839.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $183.9M | $2.1B |
| Total Assets | $444.4M | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $115.5M | $839.3M | ||
| Q3 25 | $143.0M | $870.4M | ||
| Q2 25 | $136.3M | $899.6M | ||
| Q1 25 | $136.8M | $926.9M | ||
| Q4 24 | $145.5M | $930.2M | ||
| Q3 24 | $151.4M | $1.0B | ||
| Q2 24 | $92.9M | $1.1B | ||
| Q1 24 | $91.5M | $1.1B |
| Q4 25 | $183.9M | $2.1B | ||
| Q3 25 | $115.1M | $2.1B | ||
| Q2 25 | $137.6M | $2.1B | ||
| Q1 25 | $158.2M | $2.1B | ||
| Q4 24 | $162.2M | $2.0B | ||
| Q3 24 | $173.6M | $2.1B | ||
| Q2 24 | $196.9M | $2.3B | ||
| Q1 24 | $195.1M | $2.3B |
| Q4 25 | $444.4M | $2.4B | ||
| Q3 25 | $480.6M | $2.4B | ||
| Q2 25 | $489.0M | $2.4B | ||
| Q1 25 | $493.9M | $2.3B | ||
| Q4 24 | $493.9M | $2.3B | ||
| Q3 24 | $502.7M | $2.4B | ||
| Q2 24 | $463.9M | $2.5B | ||
| Q1 24 | $461.1M | $2.6B |
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 | $-14.4M | $28.8M |
| Free Cash FlowOCF − Capex | $-14.7M | $10.9M |
| FCF MarginFCF / Revenue | -6.0% | 4.0% |
| Capex IntensityCapex / Revenue | 0.1% | 6.5% |
| Cash ConversionOCF / Net Profit | -0.21× | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $-17.2M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-14.4M | $28.8M | ||
| Q3 25 | $5.5M | $35.3M | ||
| Q2 25 | $642.0K | $-2.2M | ||
| Q1 25 | $-5.6M | $13.4M | ||
| Q4 24 | $-9.0M | $73.8M | ||
| Q3 24 | $9.0M | $66.1M | ||
| Q2 24 | $1.3M | $53.5M | ||
| Q1 24 | $-27.3M | $54.6M |
| Q4 25 | $-14.7M | $10.9M | ||
| Q3 25 | $4.7M | $14.6M | ||
| Q2 25 | $-575.0K | $-17.6M | ||
| Q1 25 | $-6.7M | $-11.4M | ||
| Q4 24 | $-10.2M | $50.6M | ||
| Q3 24 | $7.7M | $43.0M | ||
| Q2 24 | $432.0K | $29.2M | ||
| Q1 24 | $-29.4M | $26.5M |
| Q4 25 | -6.0% | 4.0% | ||
| Q3 25 | 1.8% | 5.8% | ||
| Q2 25 | -0.2% | -7.0% | ||
| Q1 25 | -2.6% | -5.0% | ||
| Q4 24 | -4.2% | 21.6% | ||
| Q3 24 | 2.9% | 18.4% | ||
| Q2 24 | 0.2% | 11.3% | ||
| Q1 24 | -14.7% | 10.5% |
| Q4 25 | 0.1% | 6.5% | ||
| Q3 25 | 0.3% | 8.3% | ||
| Q2 25 | 0.4% | 6.1% | ||
| Q1 25 | 0.4% | 10.9% | ||
| Q4 24 | 0.5% | 9.9% | ||
| Q3 24 | 0.5% | 9.9% | ||
| Q2 24 | 0.3% | 9.4% | ||
| Q1 24 | 1.0% | 11.1% |
| Q4 25 | -0.21× | 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
DOUG
| Commissions And Other Brokerage Income | $240.3M | 98% |
| Property Management Income | $2.8M | 1% |
| Property Management | $2.2M | 1% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
