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Side-by-side financial comparison of ESCO TECHNOLOGIES INC (ESE) and IPG PHOTONICS CORP (IPGP). Click either name above to swap in a different company.
ESCO TECHNOLOGIES INC is the larger business by last-quarter revenue ($289.7M vs $274.5M, roughly 1.1× IPG PHOTONICS CORP). ESCO TECHNOLOGIES INC runs the higher net margin — 9.9% vs 4.8%, a 5.1% gap on every dollar of revenue. On growth, ESCO TECHNOLOGIES INC posted the faster year-over-year revenue change (17.3% vs 17.1%). ESCO TECHNOLOGIES INC produced more free cash flow last quarter ($63.0M vs $10.9M). Over the past eight quarters, ESCO TECHNOLOGIES INC's revenue compounded faster (7.8% CAGR vs 4.4%).
Esco is a Singaporean brand that develops, manufactures, and sells products and services for laboratories.
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.
ESE vs IPGP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $289.7M | $274.5M |
| Net Profit | $28.7M | $13.3M |
| Gross Margin | 41.4% | 36.1% |
| Operating Margin | 13.2% | 1.2% |
| Net Margin | 9.9% | 4.8% |
| Revenue YoY | 17.3% | 17.1% |
| Net Profit YoY | 22.2% | 69.8% |
| EPS (diluted) | $1.11 | $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 | $289.7M | $274.5M | ||
| Q3 25 | $286.5M | $250.8M | ||
| Q2 25 | $296.3M | $250.7M | ||
| Q1 25 | $265.5M | $227.8M | ||
| Q4 24 | $247.0M | $234.3M | ||
| Q3 24 | $298.5M | $233.1M | ||
| Q2 24 | $260.8M | $257.6M | ||
| Q1 24 | $249.1M | $252.0M |
| Q4 25 | $28.7M | $13.3M | ||
| Q3 25 | $218.7M | $7.5M | ||
| Q2 25 | $26.1M | $6.6M | ||
| Q1 25 | $31.0M | $3.8M | ||
| Q4 24 | $23.5M | $7.8M | ||
| Q3 24 | $34.3M | $-233.6M | ||
| Q2 24 | $29.2M | $20.2M | ||
| Q1 24 | $23.2M | $24.1M |
| Q4 25 | 41.4% | 36.1% | ||
| Q3 25 | 45.9% | 39.5% | ||
| Q2 25 | 41.2% | 37.3% | ||
| Q1 25 | 41.1% | 39.4% | ||
| Q4 24 | 39.8% | 38.6% | ||
| Q3 24 | 40.1% | 23.2% | ||
| Q2 24 | 39.6% | 37.3% | ||
| Q1 24 | 38.8% | 38.7% |
| Q4 25 | 13.2% | 1.2% | ||
| Q3 25 | 17.2% | 3.1% | ||
| Q2 25 | 11.2% | 0.0% | ||
| Q1 25 | 15.3% | 0.8% | ||
| Q4 24 | 11.4% | 6.0% | ||
| Q3 24 | 14.8% | -108.7% | ||
| Q2 24 | 14.3% | 4.7% | ||
| Q1 24 | 11.7% | 7.6% |
| Q4 25 | 9.9% | 4.8% | ||
| Q3 25 | 76.3% | 3.0% | ||
| Q2 25 | 8.8% | 2.6% | ||
| Q1 25 | 11.7% | 1.6% | ||
| Q4 24 | 9.5% | 3.3% | ||
| Q3 24 | 11.5% | -100.2% | ||
| Q2 24 | 11.2% | 7.8% | ||
| Q1 24 | 9.3% | 9.6% |
| Q4 25 | $1.11 | $0.30 | ||
| Q3 25 | $8.43 | $0.18 | ||
| Q2 25 | $1.01 | $0.16 | ||
| Q1 25 | $1.20 | $0.09 | ||
| Q4 24 | $0.91 | $0.27 | ||
| Q3 24 | $1.32 | $-5.33 | ||
| Q2 24 | $1.13 | $0.45 | ||
| Q1 24 | $0.90 | $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 | $103.8M | $839.3M |
| Total DebtLower is stronger | $145.5M | — |
| Stockholders' EquityBook value | $1.6B | $2.1B |
| Total Assets | $2.4B | $2.4B |
| Debt / EquityLower = less leverage | 0.09× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $103.8M | $839.3M | ||
| Q3 25 | $101.3M | $870.4M | ||
| Q2 25 | $78.7M | $899.6M | ||
| Q1 25 | $57.4M | $926.9M | ||
| Q4 24 | $71.3M | $930.2M | ||
| Q3 24 | $66.0M | $1.0B | ||
| Q2 24 | $63.0M | $1.1B | ||
| Q1 24 | $59.4M | $1.1B |
| Q4 25 | $145.5M | — | ||
| Q3 25 | $186.0M | — | ||
| Q2 25 | $525.0M | — | ||
| Q1 25 | $88.0M | — | ||
| Q4 24 | $112.0M | — | ||
| Q3 24 | $122.0M | — | ||
| Q2 24 | $173.0M | — | ||
| Q1 24 | $191.0M | — |
| Q4 25 | $1.6B | $2.1B | ||
| Q3 25 | $1.5B | $2.1B | ||
| Q2 25 | $1.3B | $2.1B | ||
| Q1 25 | $1.3B | $2.1B | ||
| Q4 24 | $1.2B | $2.0B | ||
| Q3 24 | $1.2B | $2.1B | ||
| Q2 24 | $1.2B | $2.3B | ||
| Q1 24 | $1.2B | $2.3B |
| Q4 25 | $2.4B | $2.4B | ||
| Q3 25 | $2.4B | $2.4B | ||
| Q2 25 | $2.5B | $2.4B | ||
| Q1 25 | $1.8B | $2.3B | ||
| Q4 24 | $1.8B | $2.3B | ||
| Q3 24 | $1.8B | $2.4B | ||
| Q2 24 | $1.8B | $2.5B | ||
| Q1 24 | $1.8B | $2.6B |
| Q4 25 | 0.09× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.40× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 0.09× | — | ||
| Q3 24 | 0.10× | — | ||
| Q2 24 | 0.14× | — | ||
| Q1 24 | 0.16× | — |
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 | $68.9M | $28.8M |
| Free Cash FlowOCF − Capex | $63.0M | $10.9M |
| FCF MarginFCF / Revenue | 21.7% | 4.0% |
| Capex IntensityCapex / Revenue | 2.0% | 6.5% |
| Cash ConversionOCF / Net Profit | 2.40× | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $239.6M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $68.9M | $28.8M | ||
| Q3 25 | $109.9M | $35.3M | ||
| Q2 25 | $73.7M | $-2.2M | ||
| Q1 25 | $24.1M | $13.4M | ||
| Q4 24 | $34.2M | $73.8M | ||
| Q3 24 | $72.1M | $66.1M | ||
| Q2 24 | $36.2M | $53.5M | ||
| Q1 24 | $10.5M | $54.6M |
| Q4 25 | $63.0M | $10.9M | ||
| Q3 25 | $97.8M | $14.6M | ||
| Q2 25 | $64.9M | $-17.6M | ||
| Q1 25 | $14.0M | $-11.4M | ||
| Q4 24 | $29.0M | $50.6M | ||
| Q3 24 | $60.9M | $43.0M | ||
| Q2 24 | $27.6M | $29.2M | ||
| Q1 24 | $2.0M | $26.5M |
| Q4 25 | 21.7% | 4.0% | ||
| Q3 25 | 34.1% | 5.8% | ||
| Q2 25 | 21.9% | -7.0% | ||
| Q1 25 | 5.3% | -5.0% | ||
| Q4 24 | 11.7% | 21.6% | ||
| Q3 24 | 20.4% | 18.4% | ||
| Q2 24 | 10.6% | 11.3% | ||
| Q1 24 | 0.8% | 10.5% |
| Q4 25 | 2.0% | 6.5% | ||
| Q3 25 | 4.2% | 8.3% | ||
| Q2 25 | 3.0% | 6.1% | ||
| Q1 25 | 3.8% | 10.9% | ||
| Q4 24 | 2.1% | 9.9% | ||
| Q3 24 | 3.8% | 9.9% | ||
| Q2 24 | 3.3% | 9.4% | ||
| Q1 24 | 3.4% | 11.1% |
| Q4 25 | 2.40× | 2.17× | ||
| Q3 25 | 0.50× | 4.73× | ||
| Q2 25 | 2.83× | -0.34× | ||
| Q1 25 | 0.78× | 3.58× | ||
| Q4 24 | 1.46× | 9.44× | ||
| Q3 24 | 2.10× | — | ||
| Q2 24 | 1.24× | 2.65× | ||
| Q1 24 | 0.45× | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESE
| US Government | $98.0M | 34% |
| Utility Solutions Group | $87.5M | 30% |
| RF Shielding And Test | $58.3M | 20% |
| Commercial | $45.8M | 16% |
| Related Party | $1.3M | 0% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
