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Side-by-side financial comparison of FOX FACTORY HOLDING CORP (FOXF) and IPG PHOTONICS CORP (IPGP). Click either name above to swap in a different company.
FOX FACTORY HOLDING CORP is the larger business by last-quarter revenue ($376.4M vs $274.5M, roughly 1.4× IPG PHOTONICS CORP). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs -0.2%, a 5.0% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs 4.8%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $-2.5M). Over the past eight quarters, FOX FACTORY HOLDING CORP's revenue compounded faster (6.4% CAGR vs 4.4%).
Fox Factory Holding Corp. is an American company best known for their Fox Racing Shox brand of off-road racing suspension components.
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.
FOXF vs IPGP — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $376.4M | $274.5M |
| Net Profit | $-634.0K | $13.3M |
| Gross Margin | 30.4% | 36.1% |
| Operating Margin | 4.0% | 1.2% |
| Net Margin | -0.2% | 4.8% |
| Revenue YoY | 4.8% | 17.1% |
| Net Profit YoY | -113.3% | 69.8% |
| EPS (diluted) | $-0.02 | $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 | $376.4M | $274.5M | ||
| Q3 25 | $374.9M | $250.8M | ||
| Q2 25 | $355.0M | $250.7M | ||
| Q1 25 | $352.8M | $227.8M | ||
| Q4 24 | — | $234.3M | ||
| Q3 24 | $359.1M | $233.1M | ||
| Q2 24 | $348.5M | $257.6M | ||
| Q1 24 | $333.5M | $252.0M |
| Q4 25 | $-634.0K | $13.3M | ||
| Q3 25 | $2.7M | $7.5M | ||
| Q2 25 | $-259.7M | $6.6M | ||
| Q1 25 | $-141.0K | $3.8M | ||
| Q4 24 | — | $7.8M | ||
| Q3 24 | $4.8M | $-233.6M | ||
| Q2 24 | $5.4M | $20.2M | ||
| Q1 24 | $-3.5M | $24.1M |
| Q4 25 | 30.4% | 36.1% | ||
| Q3 25 | 31.2% | 39.5% | ||
| Q2 25 | 30.9% | 37.3% | ||
| Q1 25 | 28.9% | 39.4% | ||
| Q4 24 | — | 38.6% | ||
| Q3 24 | 29.9% | 23.2% | ||
| Q2 24 | 31.8% | 37.3% | ||
| Q1 24 | 30.9% | 38.7% |
| Q4 25 | 4.0% | 1.2% | ||
| Q3 25 | 4.9% | 3.1% | ||
| Q2 25 | -70.6% | 0.0% | ||
| Q1 25 | 3.2% | 0.8% | ||
| Q4 24 | — | 6.0% | ||
| Q3 24 | 5.2% | -108.7% | ||
| Q2 24 | 5.3% | 4.7% | ||
| Q1 24 | 2.7% | 7.6% |
| Q4 25 | -0.2% | 4.8% | ||
| Q3 25 | 0.7% | 3.0% | ||
| Q2 25 | -73.1% | 2.6% | ||
| Q1 25 | -0.0% | 1.6% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | 1.3% | -100.2% | ||
| Q2 24 | 1.6% | 7.8% | ||
| Q1 24 | -1.0% | 9.6% |
| Q4 25 | $-0.02 | $0.30 | ||
| Q3 25 | $0.07 | $0.18 | ||
| Q2 25 | $-6.23 | $0.16 | ||
| Q1 25 | $0.00 | $0.09 | ||
| Q4 24 | — | $0.27 | ||
| Q3 24 | $0.11 | $-5.33 | ||
| Q2 24 | $0.13 | $0.45 | ||
| Q1 24 | $-0.08 | $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 | — | $839.3M |
| Total DebtLower is stronger | $536.7M | — |
| Stockholders' EquityBook value | $956.0M | $2.1B |
| Total Assets | $2.0B | $2.4B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $839.3M | ||
| Q3 25 | — | $870.4M | ||
| Q2 25 | — | $899.6M | ||
| Q1 25 | $71.7M | $926.9M | ||
| Q4 24 | — | $930.2M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $536.7M | — | ||
| Q3 25 | $541.8M | — | ||
| Q2 25 | $546.9M | — | ||
| Q1 25 | $552.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $558.4M | — | ||
| Q2 24 | $564.1M | — | ||
| Q1 24 | $370.4M | — |
| Q4 25 | $956.0M | $2.1B | ||
| Q3 25 | $958.7M | $2.1B | ||
| Q2 25 | $939.9M | $2.1B | ||
| Q1 25 | $1.2B | $2.1B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | $1.2B | $2.1B | ||
| Q2 24 | $1.2B | $2.3B | ||
| Q1 24 | $1.2B | $2.3B |
| Q4 25 | $2.0B | $2.4B | ||
| Q3 25 | $2.0B | $2.4B | ||
| Q2 25 | $1.9B | $2.4B | ||
| Q1 25 | $2.2B | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | $2.3B | $2.4B | ||
| Q2 24 | $2.3B | $2.5B | ||
| Q1 24 | $2.2B | $2.6B |
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.58× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.47× | — | ||
| Q1 24 | 0.31× | — |
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 | $5.3M | $28.8M |
| Free Cash FlowOCF − Capex | $-2.5M | $10.9M |
| FCF MarginFCF / Revenue | -0.7% | 4.0% |
| Capex IntensityCapex / Revenue | 2.1% | 6.5% |
| Cash ConversionOCF / Net Profit | — | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $85.4M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.3M | $28.8M | ||
| Q3 25 | $36.8M | $35.3M | ||
| Q2 25 | $680.0K | $-2.2M | ||
| Q1 25 | $81.7M | $13.4M | ||
| Q4 24 | — | $73.8M | ||
| Q3 24 | $14.1M | $66.1M | ||
| Q2 24 | $26.7M | $53.5M | ||
| Q1 24 | $9.4M | $54.6M |
| Q4 25 | $-2.5M | $10.9M | ||
| Q3 25 | $24.6M | $14.6M | ||
| Q2 25 | $-6.5M | $-17.6M | ||
| Q1 25 | $69.8M | $-11.4M | ||
| Q4 24 | — | $50.6M | ||
| Q3 24 | $3.2M | $43.0M | ||
| Q2 24 | $15.4M | $29.2M | ||
| Q1 24 | $-555.0K | $26.5M |
| Q4 25 | -0.7% | 4.0% | ||
| Q3 25 | 6.6% | 5.8% | ||
| Q2 25 | -1.8% | -7.0% | ||
| Q1 25 | 19.8% | -5.0% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | 0.9% | 18.4% | ||
| Q2 24 | 4.4% | 11.3% | ||
| Q1 24 | -0.2% | 10.5% |
| Q4 25 | 2.1% | 6.5% | ||
| Q3 25 | 3.3% | 8.3% | ||
| Q2 25 | 2.0% | 6.1% | ||
| Q1 25 | 3.4% | 10.9% | ||
| Q4 24 | — | 9.9% | ||
| Q3 24 | 3.0% | 9.9% | ||
| Q2 24 | 3.2% | 9.4% | ||
| Q1 24 | 3.0% | 11.1% |
| Q4 25 | — | 2.17× | ||
| Q3 25 | 13.41× | 4.73× | ||
| Q2 25 | — | -0.34× | ||
| Q1 25 | — | 3.58× | ||
| Q4 24 | — | 9.44× | ||
| Q3 24 | 2.94× | — | ||
| Q2 24 | 4.94× | 2.65× | ||
| Q1 24 | — | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FOXF
| Specialty Sports Group | $132.7M | 35% |
| Powered Vehicles Group | $125.9M | 33% |
| Aftermarket Applications Group | $117.8M | 31% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
