vs
Side-by-side financial comparison of Great Lakes Dredge & Dock CORP (GLDD) 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 $256.5M, roughly 1.1× Great Lakes Dredge & Dock CORP). Great Lakes Dredge & Dock CORP runs the higher net margin — 4.9% vs 4.8%, a 0.1% gap on every dollar of revenue. On growth, Great Lakes Dredge & Dock CORP posted the faster year-over-year revenue change (26.5% vs 17.1%). Great Lakes Dredge & Dock CORP produced more free cash flow last quarter ($50.3M vs $10.9M). Over the past eight quarters, Great Lakes Dredge & Dock CORP's revenue compounded faster (13.6% CAGR vs 4.4%).
Great Lakes Dredge and Dock Company is an American company providing construction services in dredging and land reclamation, currently the largest such provider in the United States. GLD&D operates primarily in the United States but conducts one-quarter of its business overseas. The company was based in Oak Brook, Illinois, but in October 2020 relocated its corporate headquarters to Houston, Texas.
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.
GLDD vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $256.5M | $274.5M |
| Net Profit | $12.6M | $13.3M |
| Gross Margin | 20.9% | 36.1% |
| Operating Margin | 12.7% | 1.2% |
| Net Margin | 4.9% | 4.8% |
| Revenue YoY | 26.5% | 17.1% |
| Net Profit YoY | -35.9% | 69.8% |
| EPS (diluted) | $0.19 | $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 | $256.5M | $274.5M | ||
| Q3 25 | $195.2M | $250.8M | ||
| Q2 25 | $193.8M | $250.7M | ||
| Q1 25 | $242.9M | $227.8M | ||
| Q4 24 | $202.8M | $234.3M | ||
| Q3 24 | $191.2M | $233.1M | ||
| Q2 24 | $170.1M | $257.6M | ||
| Q1 24 | $198.7M | $252.0M |
| Q4 25 | $12.6M | $13.3M | ||
| Q3 25 | $17.7M | $7.5M | ||
| Q2 25 | $9.7M | $6.6M | ||
| Q1 25 | $33.4M | $3.8M | ||
| Q4 24 | $19.7M | $7.8M | ||
| Q3 24 | $8.9M | $-233.6M | ||
| Q2 24 | $7.7M | $20.2M | ||
| Q1 24 | $21.0M | $24.1M |
| Q4 25 | 20.9% | 36.1% | ||
| Q3 25 | 22.4% | 39.5% | ||
| Q2 25 | 18.9% | 37.3% | ||
| Q1 25 | 28.6% | 39.4% | ||
| Q4 24 | 24.1% | 38.6% | ||
| Q3 24 | 19.0% | 23.2% | ||
| Q2 24 | 17.5% | 37.3% | ||
| Q1 24 | 22.9% | 38.7% |
| Q4 25 | 12.7% | 1.2% | ||
| Q3 25 | 14.4% | 3.1% | ||
| Q2 25 | 8.8% | 0.0% | ||
| Q1 25 | 20.6% | 0.8% | ||
| Q4 24 | 14.8% | 6.0% | ||
| Q3 24 | 8.7% | -108.7% | ||
| Q2 24 | 8.6% | 4.7% | ||
| Q1 24 | 15.8% | 7.6% |
| Q4 25 | 4.9% | 4.8% | ||
| Q3 25 | 9.1% | 3.0% | ||
| Q2 25 | 5.0% | 2.6% | ||
| Q1 25 | 13.8% | 1.6% | ||
| Q4 24 | 9.7% | 3.3% | ||
| Q3 24 | 4.6% | -100.2% | ||
| Q2 24 | 4.5% | 7.8% | ||
| Q1 24 | 10.6% | 9.6% |
| Q4 25 | $0.19 | $0.30 | ||
| Q3 25 | $0.26 | $0.18 | ||
| Q2 25 | $0.14 | $0.16 | ||
| Q1 25 | $0.49 | $0.09 | ||
| Q4 24 | $0.29 | $0.27 | ||
| Q3 24 | $0.13 | $-5.33 | ||
| Q2 24 | $0.11 | $0.45 | ||
| Q1 24 | $0.31 | $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 | $13.4M | $839.3M |
| Total DebtLower is stronger | $378.2M | — |
| Stockholders' EquityBook value | $517.1M | $2.1B |
| Total Assets | $1.3B | $2.4B |
| Debt / EquityLower = less leverage | 0.73× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.4M | $839.3M | ||
| Q3 25 | $12.7M | $870.4M | ||
| Q2 25 | $2.9M | $899.6M | ||
| Q1 25 | $11.3M | $926.9M | ||
| Q4 24 | $10.2M | $930.2M | ||
| Q3 24 | $12.0M | $1.0B | ||
| Q2 24 | $23.1M | $1.1B | ||
| Q1 24 | $22.8M | $1.1B |
| Q4 25 | $378.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $448.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $517.1M | $2.1B | ||
| Q3 25 | $502.1M | $2.1B | ||
| Q2 25 | $481.9M | $2.1B | ||
| Q1 25 | $479.9M | $2.1B | ||
| Q4 24 | $448.9M | $2.0B | ||
| Q3 24 | $425.4M | $2.1B | ||
| Q2 24 | $418.0M | $2.3B | ||
| Q1 24 | $409.0M | $2.3B |
| Q4 25 | $1.3B | $2.4B | ||
| Q3 25 | $1.3B | $2.4B | ||
| Q2 25 | $1.2B | $2.4B | ||
| Q1 25 | $1.2B | $2.3B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $1.1B | $2.4B | ||
| Q2 24 | $1.1B | $2.5B | ||
| Q1 24 | $1.1B | $2.6B |
| Q4 25 | 0.73× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $79.7M | $28.8M |
| Free Cash FlowOCF − Capex | $50.3M | $10.9M |
| FCF MarginFCF / Revenue | 19.6% | 4.0% |
| Capex IntensityCapex / Revenue | 11.5% | 6.5% |
| Cash ConversionOCF / Net Profit | 6.31× | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $99.5M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $79.7M | $28.8M | ||
| Q3 25 | $49.2M | $35.3M | ||
| Q2 25 | $56.9M | $-2.2M | ||
| Q1 25 | $60.9M | $13.4M | ||
| Q4 24 | $-13.5M | $73.8M | ||
| Q3 24 | $26.8M | $66.1M | ||
| Q2 24 | $18.4M | $53.5M | ||
| Q1 24 | $38.4M | $54.6M |
| Q4 25 | $50.3M | $10.9M | ||
| Q3 25 | $13.2M | $14.6M | ||
| Q2 25 | $-3.7M | $-17.6M | ||
| Q1 25 | $39.6M | $-11.4M | ||
| Q4 24 | $-36.1M | $50.6M | ||
| Q3 24 | $-11.5M | $43.0M | ||
| Q2 24 | $-34.0M | $29.2M | ||
| Q1 24 | $26.5M | $26.5M |
| Q4 25 | 19.6% | 4.0% | ||
| Q3 25 | 6.8% | 5.8% | ||
| Q2 25 | -1.9% | -7.0% | ||
| Q1 25 | 16.3% | -5.0% | ||
| Q4 24 | -17.8% | 21.6% | ||
| Q3 24 | -6.0% | 18.4% | ||
| Q2 24 | -20.0% | 11.3% | ||
| Q1 24 | 13.4% | 10.5% |
| Q4 25 | 11.5% | 6.5% | ||
| Q3 25 | 18.4% | 8.3% | ||
| Q2 25 | 31.3% | 6.1% | ||
| Q1 25 | 8.7% | 10.9% | ||
| Q4 24 | 11.2% | 9.9% | ||
| Q3 24 | 20.0% | 9.9% | ||
| Q2 24 | 30.8% | 9.4% | ||
| Q1 24 | 6.0% | 11.1% |
| Q4 25 | 6.31× | 2.17× | ||
| Q3 25 | 2.77× | 4.73× | ||
| Q2 25 | 5.87× | -0.34× | ||
| Q1 25 | 1.82× | 3.58× | ||
| Q4 24 | -0.69× | 9.44× | ||
| Q3 24 | 3.02× | — | ||
| Q2 24 | 2.39× | 2.65× | ||
| Q1 24 | 1.83× | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GLDD
Segment breakdown not available.
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
