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Side-by-side financial comparison of Distribution Solutions Group, Inc. (DSGR) and IPG PHOTONICS CORP (IPGP). Click either name above to swap in a different company.
Distribution Solutions Group, Inc. is the larger business by last-quarter revenue ($518.0M vs $274.5M, roughly 1.9× IPG PHOTONICS CORP). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs 1.2%, a 3.6% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs 10.7%). Distribution Solutions Group, Inc. produced more free cash flow last quarter ($32.9M vs $10.9M). Over the past eight quarters, Distribution Solutions Group, Inc.'s revenue compounded faster (13.1% CAGR vs 4.4%).
Univar Solutions Inc. is a global chemical and ingredients distributor and provider of value-added services.
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.
DSGR vs IPGP — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $518.0M | $274.5M |
| Net Profit | $6.5M | $13.3M |
| Gross Margin | 32.9% | 36.1% |
| Operating Margin | 4.6% | 1.2% |
| Net Margin | 1.2% | 4.8% |
| Revenue YoY | 10.7% | 17.1% |
| Net Profit YoY | -70.6% | 69.8% |
| EPS (diluted) | $0.14 | $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 | — | $274.5M | ||
| Q3 25 | $518.0M | $250.8M | ||
| Q2 25 | $502.4M | $250.7M | ||
| Q1 25 | $478.0M | $227.8M | ||
| Q4 24 | $480.5M | $234.3M | ||
| Q3 24 | $468.0M | $233.1M | ||
| Q2 24 | $439.5M | $257.6M | ||
| Q1 24 | $416.1M | $252.0M |
| Q4 25 | — | $13.3M | ||
| Q3 25 | $6.5M | $7.5M | ||
| Q2 25 | $5.0M | $6.6M | ||
| Q1 25 | $3.3M | $3.8M | ||
| Q4 24 | $-25.9M | $7.8M | ||
| Q3 24 | $21.9M | $-233.6M | ||
| Q2 24 | $1.9M | $20.2M | ||
| Q1 24 | $-5.2M | $24.1M |
| Q4 25 | — | 36.1% | ||
| Q3 25 | 32.9% | 39.5% | ||
| Q2 25 | 33.9% | 37.3% | ||
| Q1 25 | 34.3% | 39.4% | ||
| Q4 24 | 33.3% | 38.6% | ||
| Q3 24 | 33.9% | 23.2% | ||
| Q2 24 | 34.5% | 37.3% | ||
| Q1 24 | 34.5% | 38.7% |
| Q4 25 | — | 1.2% | ||
| Q3 25 | 4.6% | 3.1% | ||
| Q2 25 | 5.3% | 0.0% | ||
| Q1 25 | 4.2% | 0.8% | ||
| Q4 24 | 4.2% | 6.0% | ||
| Q3 24 | 4.0% | -108.7% | ||
| Q2 24 | 3.2% | 4.7% | ||
| Q1 24 | 0.7% | 7.6% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | 1.2% | 3.0% | ||
| Q2 25 | 1.0% | 2.6% | ||
| Q1 25 | 0.7% | 1.6% | ||
| Q4 24 | -5.4% | 3.3% | ||
| Q3 24 | 4.7% | -100.2% | ||
| Q2 24 | 0.4% | 7.8% | ||
| Q1 24 | -1.3% | 9.6% |
| Q4 25 | — | $0.30 | ||
| Q3 25 | $0.14 | $0.18 | ||
| Q2 25 | $0.11 | $0.16 | ||
| Q1 25 | $0.07 | $0.09 | ||
| Q4 24 | $-0.55 | $0.27 | ||
| Q3 24 | $0.46 | $-5.33 | ||
| Q2 24 | $0.04 | $0.45 | ||
| Q1 24 | $-0.11 | $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 | $69.2M | $839.3M |
| Total DebtLower is stronger | $665.5M | — |
| Stockholders' EquityBook value | $653.9M | $2.1B |
| Total Assets | $1.8B | $2.4B |
| Debt / EquityLower = less leverage | 1.02× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $839.3M | ||
| Q3 25 | $69.2M | $870.4M | ||
| Q2 25 | $47.4M | $899.6M | ||
| Q1 25 | $65.4M | $926.9M | ||
| Q4 24 | $66.5M | $930.2M | ||
| Q3 24 | $61.3M | $1.0B | ||
| Q2 24 | $46.8M | $1.1B | ||
| Q1 24 | $73.1M | $1.1B |
| Q4 25 | — | — | ||
| Q3 25 | $665.5M | — | ||
| Q2 25 | $675.0M | — | ||
| Q1 25 | $712.4M | — | ||
| Q4 24 | $693.9M | — | ||
| Q3 24 | $704.1M | — | ||
| Q2 24 | $573.7M | — | ||
| Q1 24 | $535.7M | — |
| Q4 25 | — | $2.1B | ||
| Q3 25 | $653.9M | $2.1B | ||
| Q2 25 | $649.4M | $2.1B | ||
| Q1 25 | $636.7M | $2.1B | ||
| Q4 24 | $640.5M | $2.0B | ||
| Q3 24 | $680.8M | $2.1B | ||
| Q2 24 | $653.3M | $2.3B | ||
| Q1 24 | $654.7M | $2.3B |
| Q4 25 | — | $2.4B | ||
| Q3 25 | $1.8B | $2.4B | ||
| Q2 25 | $1.8B | $2.4B | ||
| Q1 25 | $1.8B | $2.3B | ||
| Q4 24 | $1.7B | $2.3B | ||
| Q3 24 | $1.8B | $2.4B | ||
| Q2 24 | $1.6B | $2.5B | ||
| Q1 24 | $1.5B | $2.6B |
| Q4 25 | — | — | ||
| Q3 25 | 1.02× | — | ||
| Q2 25 | 1.04× | — | ||
| Q1 25 | 1.12× | — | ||
| Q4 24 | 1.08× | — | ||
| Q3 24 | 1.03× | — | ||
| Q2 24 | 0.88× | — | ||
| Q1 24 | 0.82× | — |
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 | $38.4M | $28.8M |
| Free Cash FlowOCF − Capex | $32.9M | $10.9M |
| FCF MarginFCF / Revenue | 6.3% | 4.0% |
| Capex IntensityCapex / Revenue | 1.1% | 6.5% |
| Cash ConversionOCF / Net Profit | 5.95× | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $92.2M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $28.8M | ||
| Q3 25 | $38.4M | $35.3M | ||
| Q2 25 | $33.3M | $-2.2M | ||
| Q1 25 | $-4.8M | $13.4M | ||
| Q4 24 | $45.7M | $73.8M | ||
| Q3 24 | $-17.3M | $66.1M | ||
| Q2 24 | $21.4M | $53.5M | ||
| Q1 24 | $6.6M | $54.6M |
| Q4 25 | — | $10.9M | ||
| Q3 25 | $32.9M | $14.6M | ||
| Q2 25 | $28.7M | $-17.6M | ||
| Q1 25 | $-10.4M | $-11.4M | ||
| Q4 24 | $41.1M | $50.6M | ||
| Q3 24 | $-20.5M | $43.0M | ||
| Q2 24 | $18.0M | $29.2M | ||
| Q1 24 | $4.2M | $26.5M |
| Q4 25 | — | 4.0% | ||
| Q3 25 | 6.3% | 5.8% | ||
| Q2 25 | 5.7% | -7.0% | ||
| Q1 25 | -2.2% | -5.0% | ||
| Q4 24 | 8.6% | 21.6% | ||
| Q3 24 | -4.4% | 18.4% | ||
| Q2 24 | 4.1% | 11.3% | ||
| Q1 24 | 1.0% | 10.5% |
| Q4 25 | — | 6.5% | ||
| Q3 25 | 1.1% | 8.3% | ||
| Q2 25 | 0.9% | 6.1% | ||
| Q1 25 | 1.2% | 10.9% | ||
| Q4 24 | 1.0% | 9.9% | ||
| Q3 24 | 0.7% | 9.9% | ||
| Q2 24 | 0.8% | 9.4% | ||
| Q1 24 | 0.6% | 11.1% |
| Q4 25 | — | 2.17× | ||
| Q3 25 | 5.95× | 4.73× | ||
| Q2 25 | 6.66× | -0.34× | ||
| Q1 25 | -1.46× | 3.58× | ||
| Q4 24 | — | 9.44× | ||
| Q3 24 | -0.79× | — | ||
| Q2 24 | 11.28× | 2.65× | ||
| Q1 24 | — | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DSGR
| Test Equity Segment | $206.5M | 40% |
| Gexpro Services Segment | $130.5M | 25% |
| Lawson Segment | $121.5M | 23% |
| Canada Branch Division Segment | $60.0M | 12% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
