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Side-by-side financial comparison of Employers Holdings, Inc. (EIG) 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 $170.5M, roughly 1.6× Employers Holdings, Inc.). On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -21.3%). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -11.4%).
Employers Holdings, Inc. is a U.S.-headquartered insurance holding company that specializes in offering workers' compensation insurance and customized risk management services primarily for small and medium-sized enterprises across the United States. It mainly serves clients in low-to-medium hazard industries, helping them mitigate workplace safety risks and meet relevant regulatory requirements for employee protection.
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.
EIG vs IPGP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $170.5M | $274.5M |
| Net Profit | — | $13.3M |
| Gross Margin | — | 36.1% |
| Operating Margin | — | 1.2% |
| Net Margin | — | 4.8% |
| Revenue YoY | -21.3% | 17.1% |
| Net Profit YoY | — | 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 | $170.5M | — | ||
| Q4 25 | $188.5M | $274.5M | ||
| Q3 25 | $239.3M | $250.8M | ||
| Q2 25 | $246.3M | $250.7M | ||
| Q1 25 | $202.6M | $227.8M | ||
| Q4 24 | $216.6M | $234.3M | ||
| Q3 24 | $224.0M | $233.1M | ||
| Q2 24 | $217.0M | $257.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $13.3M | ||
| Q3 25 | $-8.3M | $7.5M | ||
| Q2 25 | $29.7M | $6.6M | ||
| Q1 25 | $12.8M | $3.8M | ||
| Q4 24 | — | $7.8M | ||
| Q3 24 | $30.3M | $-233.6M | ||
| Q2 24 | $31.7M | $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 | — | 1.2% | ||
| Q3 25 | -4.7% | 3.1% | ||
| Q2 25 | 15.0% | 0.0% | ||
| Q1 25 | 7.8% | 0.8% | ||
| Q4 24 | — | 6.0% | ||
| Q3 24 | 16.4% | -108.7% | ||
| Q2 24 | 18.4% | 4.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.8% | ||
| Q3 25 | -3.5% | 3.0% | ||
| Q2 25 | 12.1% | 2.6% | ||
| Q1 25 | 6.3% | 1.6% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | 13.5% | -100.2% | ||
| Q2 24 | 14.6% | 7.8% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $0.30 | ||
| Q3 25 | $-0.36 | $0.18 | ||
| Q2 25 | $1.23 | $0.16 | ||
| Q1 25 | $0.52 | $0.09 | ||
| Q4 24 | $1.14 | $0.27 | ||
| Q3 24 | $1.21 | $-5.33 | ||
| Q2 24 | $1.25 | $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 | $169.9M | $839.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $955.7M | $2.1B |
| Total Assets | $3.4B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $169.9M | — | ||
| Q4 25 | $169.9M | $839.3M | ||
| Q3 25 | $172.4M | $870.4M | ||
| Q2 25 | $78.1M | $899.6M | ||
| Q1 25 | $100.4M | $926.9M | ||
| Q4 24 | $68.4M | $930.2M | ||
| Q3 24 | $173.9M | $1.0B | ||
| Q2 24 | $126.4M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | $19.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $955.7M | — | ||
| Q4 25 | $955.7M | $2.1B | ||
| Q3 25 | $1.0B | $2.1B | ||
| Q2 25 | $1.1B | $2.1B | ||
| Q1 25 | $1.1B | $2.1B | ||
| Q4 24 | $1.1B | $2.0B | ||
| Q3 24 | $1.1B | $2.1B | ||
| Q2 24 | $1.0B | $2.3B |
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.4B | $2.4B | ||
| Q3 25 | $3.5B | $2.4B | ||
| Q2 25 | $3.5B | $2.4B | ||
| Q1 25 | $3.6B | $2.3B | ||
| Q4 24 | $3.5B | $2.3B | ||
| Q3 24 | $3.6B | $2.4B | ||
| Q2 24 | $3.5B | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.02× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $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 | $44.7M | $28.8M | ||
| Q3 25 | $29.4M | $35.3M | ||
| Q2 25 | $0 | $-2.2M | ||
| Q1 25 | $14.6M | $13.4M | ||
| Q4 24 | $76.4M | $73.8M | ||
| Q3 24 | $51.0M | $66.1M | ||
| Q2 24 | $11.7M | $53.5M |
| Q1 26 | — | — | ||
| Q4 25 | $44.6M | $10.9M | ||
| Q3 25 | — | $14.6M | ||
| Q2 25 | — | $-17.6M | ||
| Q1 25 | — | $-11.4M | ||
| Q4 24 | $76.3M | $50.6M | ||
| Q3 24 | — | $43.0M | ||
| Q2 24 | — | $29.2M |
| Q1 26 | — | — | ||
| Q4 25 | 23.7% | 4.0% | ||
| Q3 25 | — | 5.8% | ||
| Q2 25 | — | -7.0% | ||
| Q1 25 | — | -5.0% | ||
| Q4 24 | 35.2% | 21.6% | ||
| Q3 24 | — | 18.4% | ||
| Q2 24 | — | 11.3% |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 6.5% | ||
| Q3 25 | — | 8.3% | ||
| Q2 25 | — | 6.1% | ||
| Q1 25 | — | 10.9% | ||
| Q4 24 | 0.0% | 9.9% | ||
| Q3 24 | — | 9.9% | ||
| Q2 24 | — | 9.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.17× | ||
| Q3 25 | — | 4.73× | ||
| Q2 25 | 0.00× | -0.34× | ||
| Q1 25 | 1.14× | 3.58× | ||
| Q4 24 | — | 9.44× | ||
| Q3 24 | 1.68× | — | ||
| Q2 24 | 0.37× | 2.65× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EIG
Segment breakdown not available.
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
