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Side-by-side financial comparison of Essex Property Trust (ESS) and IPG PHOTONICS CORP (IPGP). Click either name above to swap in a different company.
Essex Property Trust is the larger business by last-quarter revenue ($479.6M vs $274.5M, roughly 1.7× IPG PHOTONICS CORP). Essex Property Trust runs the higher net margin — 17.9% vs 4.8%, a 13.0% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs 5.5%). Over the past eight quarters, Essex Property Trust's revenue compounded faster (6.0% CAGR vs 4.4%).
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
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.
ESS vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $479.6M | $274.5M |
| Net Profit | $85.7M | $13.3M |
| Gross Margin | 70.0% | 36.1% |
| Operating Margin | 31.7% | 1.2% |
| Net Margin | 17.9% | 4.8% |
| Revenue YoY | 5.5% | 17.1% |
| Net Profit YoY | -71.6% | 69.8% |
| EPS (diluted) | $1.24 | $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 | $479.6M | $274.5M | ||
| Q3 25 | $473.3M | $250.8M | ||
| Q2 25 | $469.8M | $250.7M | ||
| Q1 25 | $464.6M | $227.8M | ||
| Q4 24 | $454.5M | $234.3M | ||
| Q3 24 | $450.7M | $233.1M | ||
| Q2 24 | $442.4M | $257.6M | ||
| Q1 24 | $426.9M | $252.0M |
| Q4 25 | $85.7M | $13.3M | ||
| Q3 25 | $172.7M | $7.5M | ||
| Q2 25 | $231.5M | $6.6M | ||
| Q1 25 | $212.8M | $3.8M | ||
| Q4 24 | $301.7M | $7.8M | ||
| Q3 24 | $125.5M | $-233.6M | ||
| Q2 24 | $99.0M | $20.2M | ||
| Q1 24 | $285.1M | $24.1M |
| Q4 25 | 70.0% | 36.1% | ||
| Q3 25 | 69.2% | 39.5% | ||
| Q2 25 | 70.7% | 37.3% | ||
| Q1 25 | 69.6% | 39.4% | ||
| Q4 24 | 70.0% | 38.6% | ||
| Q3 24 | 69.5% | 23.2% | ||
| Q2 24 | 70.8% | 37.3% | ||
| Q1 24 | 69.7% | 38.7% |
| Q4 25 | 31.7% | 1.2% | ||
| Q3 25 | 44.5% | 3.1% | ||
| Q2 25 | 59.5% | 0.0% | ||
| Q1 25 | 55.3% | 0.8% | ||
| Q4 24 | 67.0% | 6.0% | ||
| Q3 24 | 28.6% | -108.7% | ||
| Q2 24 | 31.1% | 4.7% | ||
| Q1 24 | 31.0% | 7.6% |
| Q4 25 | 17.9% | 4.8% | ||
| Q3 25 | 36.5% | 3.0% | ||
| Q2 25 | 49.3% | 2.6% | ||
| Q1 25 | 45.8% | 1.6% | ||
| Q4 24 | 66.4% | 3.3% | ||
| Q3 24 | 27.8% | -100.2% | ||
| Q2 24 | 22.4% | 7.8% | ||
| Q1 24 | 66.8% | 9.6% |
| Q4 25 | $1.24 | $0.30 | ||
| Q3 25 | $2.56 | $0.18 | ||
| Q2 25 | $3.44 | $0.16 | ||
| Q1 25 | $3.16 | $0.09 | ||
| Q4 24 | $4.00 | $0.27 | ||
| Q3 24 | $1.84 | $-5.33 | ||
| Q2 24 | $1.45 | $0.45 | ||
| Q1 24 | $4.25 | $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 | $76.2M | $839.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.5B | $2.1B |
| Total Assets | $13.2B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $76.2M | $839.3M | ||
| Q3 25 | $66.0M | $870.4M | ||
| Q2 25 | $58.7M | $899.6M | ||
| Q1 25 | $98.7M | $926.9M | ||
| Q4 24 | $66.8M | $930.2M | ||
| Q3 24 | $71.3M | $1.0B | ||
| Q2 24 | $55.2M | $1.1B | ||
| Q1 24 | $499.0M | $1.1B |
| Q4 25 | — | — | ||
| Q3 25 | $6.4B | — | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.8B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $6.4B | — | ||
| Q2 24 | $6.2B | — | ||
| Q1 24 | $6.6B | — |
| Q4 25 | $5.5B | $2.1B | ||
| Q3 25 | $5.6B | $2.1B | ||
| Q2 25 | $5.6B | $2.1B | ||
| Q1 25 | $5.6B | $2.1B | ||
| Q4 24 | $5.5B | $2.0B | ||
| Q3 24 | $5.4B | $2.1B | ||
| Q2 24 | $5.5B | $2.3B | ||
| Q1 24 | $5.5B | $2.3B |
| Q4 25 | $13.2B | $2.4B | ||
| Q3 25 | $13.2B | $2.4B | ||
| Q2 25 | $13.2B | $2.4B | ||
| Q1 25 | $13.2B | $2.3B | ||
| Q4 24 | $12.9B | $2.3B | ||
| Q3 24 | $12.6B | $2.4B | ||
| Q2 24 | $12.5B | $2.5B | ||
| Q1 24 | $12.9B | $2.6B |
| Q4 25 | — | — | ||
| Q3 25 | 1.15× | — | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.18× | — | ||
| Q2 24 | 1.13× | — | ||
| Q1 24 | 1.19× | — |
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 | $1.1B | $28.8M |
| Free Cash FlowOCF − Capex | — | $10.9M |
| FCF MarginFCF / Revenue | — | 4.0% |
| Capex IntensityCapex / Revenue | — | 6.5% |
| Cash ConversionOCF / Net Profit | 12.53× | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $28.8M | ||
| Q3 25 | $342.6M | $35.3M | ||
| Q2 25 | $216.1M | $-2.2M | ||
| Q1 25 | $281.5M | $13.4M | ||
| Q4 24 | $1.1B | $73.8M | ||
| Q3 24 | $316.2M | $66.1M | ||
| Q2 24 | $218.9M | $53.5M | ||
| Q1 24 | $314.9M | $54.6M |
| Q4 25 | — | $10.9M | ||
| Q3 25 | — | $14.6M | ||
| Q2 25 | — | $-17.6M | ||
| Q1 25 | — | $-11.4M | ||
| Q4 24 | — | $50.6M | ||
| Q3 24 | — | $43.0M | ||
| Q2 24 | — | $29.2M | ||
| Q1 24 | — | $26.5M |
| Q4 25 | — | 4.0% | ||
| Q3 25 | — | 5.8% | ||
| Q2 25 | — | -7.0% | ||
| Q1 25 | — | -5.0% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | — | 18.4% | ||
| Q2 24 | — | 11.3% | ||
| Q1 24 | — | 10.5% |
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | 8.3% | ||
| Q2 25 | — | 6.1% | ||
| Q1 25 | — | 10.9% | ||
| Q4 24 | — | 9.9% | ||
| Q3 24 | — | 9.9% | ||
| Q2 24 | — | 9.4% | ||
| Q1 24 | — | 11.1% |
| Q4 25 | 12.53× | 2.17× | ||
| Q3 25 | 1.98× | 4.73× | ||
| Q2 25 | 0.93× | -0.34× | ||
| Q1 25 | 1.32× | 3.58× | ||
| Q4 24 | 3.54× | 9.44× | ||
| Q3 24 | 2.52× | — | ||
| Q2 24 | 2.21× | 2.65× | ||
| Q1 24 | 1.10× | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESS
Segment breakdown not available.
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
