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Side-by-side financial comparison of Acushnet Holdings Corp. (GOLF) and IPG PHOTONICS CORP (IPGP). Click either name above to swap in a different company.
Acushnet Holdings Corp. is the larger business by last-quarter revenue ($477.2M vs $274.5M, roughly 1.7× IPG PHOTONICS CORP). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs -7.3%, a 12.1% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs 7.2%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $-23.3M). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -17.9%).
The Acushnet Company is an American company focused on the golf market. The company operates a series of brands that manufacture golf equipment, clothing and accessories.
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.
GOLF vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $477.2M | $274.5M |
| Net Profit | $-34.9M | $13.3M |
| Gross Margin | 44.1% | 36.1% |
| Operating Margin | -3.8% | 1.2% |
| Net Margin | -7.3% | 4.8% |
| Revenue YoY | 7.2% | 17.1% |
| Net Profit YoY | -3027.3% | 69.8% |
| EPS (diluted) | $-0.57 | $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 | $477.2M | $274.5M | ||
| Q3 25 | $657.7M | $250.8M | ||
| Q2 25 | $720.5M | $250.7M | ||
| Q1 25 | $703.4M | $227.8M | ||
| Q4 24 | $445.2M | $234.3M | ||
| Q3 24 | $620.5M | $233.1M | ||
| Q2 24 | $683.9M | $257.6M | ||
| Q1 24 | $707.6M | $252.0M |
| Q4 25 | $-34.9M | $13.3M | ||
| Q3 25 | $48.5M | $7.5M | ||
| Q2 25 | $75.6M | $6.6M | ||
| Q1 25 | $99.4M | $3.8M | ||
| Q4 24 | $-1.1M | $7.8M | ||
| Q3 24 | $56.2M | $-233.6M | ||
| Q2 24 | $71.4M | $20.2M | ||
| Q1 24 | $87.8M | $24.1M |
| Q4 25 | 44.1% | 36.1% | ||
| Q3 25 | 48.5% | 39.5% | ||
| Q2 25 | 49.2% | 37.3% | ||
| Q1 25 | 47.9% | 39.4% | ||
| Q4 24 | 22.6% | 38.6% | ||
| Q3 24 | 54.4% | 23.2% | ||
| Q2 24 | 54.4% | 37.3% | ||
| Q1 24 | 53.4% | 38.7% |
| Q4 25 | -3.8% | 1.2% | ||
| Q3 25 | 14.1% | 3.1% | ||
| Q2 25 | 15.2% | 0.0% | ||
| Q1 25 | 16.3% | 0.8% | ||
| Q4 24 | -1.2% | 6.0% | ||
| Q3 24 | 13.2% | -108.7% | ||
| Q2 24 | 15.5% | 4.7% | ||
| Q1 24 | 17.2% | 7.6% |
| Q4 25 | -7.3% | 4.8% | ||
| Q3 25 | 7.4% | 3.0% | ||
| Q2 25 | 10.5% | 2.6% | ||
| Q1 25 | 14.1% | 1.6% | ||
| Q4 24 | -0.3% | 3.3% | ||
| Q3 24 | 9.1% | -100.2% | ||
| Q2 24 | 10.4% | 7.8% | ||
| Q1 24 | 12.4% | 9.6% |
| Q4 25 | $-0.57 | $0.30 | ||
| Q3 25 | $0.81 | $0.18 | ||
| Q2 25 | $1.25 | $0.16 | ||
| Q1 25 | $1.62 | $0.09 | ||
| Q4 24 | $0.02 | $0.27 | ||
| Q3 24 | $0.89 | $-5.33 | ||
| Q2 24 | $1.11 | $0.45 | ||
| Q1 24 | $1.35 | $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 | $926.2M | — |
| Stockholders' EquityBook value | $783.6M | $2.1B |
| Total Assets | $2.3B | $2.4B |
| Debt / EquityLower = less leverage | 1.18× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $839.3M | ||
| Q3 25 | — | $870.4M | ||
| Q2 25 | — | $899.6M | ||
| Q1 25 | — | $926.9M | ||
| Q4 24 | — | $930.2M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $926.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $753.1M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $783.6M | $2.1B | ||
| Q3 25 | $852.3M | $2.1B | ||
| Q2 25 | $808.5M | $2.1B | ||
| Q1 25 | $780.3M | $2.1B | ||
| Q4 24 | $765.2M | $2.0B | ||
| Q3 24 | $863.9M | $2.1B | ||
| Q2 24 | $863.7M | $2.3B | ||
| Q1 24 | $883.7M | $2.3B |
| Q4 25 | $2.3B | $2.4B | ||
| Q3 25 | $2.4B | $2.4B | ||
| Q2 25 | $2.4B | $2.4B | ||
| Q1 25 | $2.4B | $2.3B | ||
| Q4 24 | $2.2B | $2.3B | ||
| Q3 24 | $2.3B | $2.4B | ||
| Q2 24 | $2.3B | $2.5B | ||
| Q1 24 | $2.4B | $2.6B |
| Q4 25 | 1.18× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.98× | — | ||
| 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 | $-338.0K | $28.8M |
| Free Cash FlowOCF − Capex | $-23.3M | $10.9M |
| FCF MarginFCF / Revenue | -4.9% | 4.0% |
| Capex IntensityCapex / Revenue | 4.8% | 6.5% |
| Cash ConversionOCF / Net Profit | — | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $120.0M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-338.0K | $28.8M | ||
| Q3 25 | $163.1M | $35.3M | ||
| Q2 25 | $151.9M | $-2.2M | ||
| Q1 25 | $-120.3M | $13.4M | ||
| Q4 24 | $-1.1M | $73.8M | ||
| Q3 24 | $144.1M | $66.1M | ||
| Q2 24 | $211.6M | $53.5M | ||
| Q1 24 | $-109.5M | $54.6M |
| Q4 25 | $-23.3M | $10.9M | ||
| Q3 25 | $136.9M | $14.6M | ||
| Q2 25 | $138.0M | $-17.6M | ||
| Q1 25 | $-131.5M | $-11.4M | ||
| Q4 24 | $-33.2M | $50.6M | ||
| Q3 24 | $123.7M | $43.0M | ||
| Q2 24 | $196.8M | $29.2M | ||
| Q1 24 | $-116.8M | $26.5M |
| Q4 25 | -4.9% | 4.0% | ||
| Q3 25 | 20.8% | 5.8% | ||
| Q2 25 | 19.2% | -7.0% | ||
| Q1 25 | -18.7% | -5.0% | ||
| Q4 24 | -7.5% | 21.6% | ||
| Q3 24 | 19.9% | 18.4% | ||
| Q2 24 | 28.8% | 11.3% | ||
| Q1 24 | -16.5% | 10.5% |
| Q4 25 | 4.8% | 6.5% | ||
| Q3 25 | 4.0% | 8.3% | ||
| Q2 25 | 1.9% | 6.1% | ||
| Q1 25 | 1.6% | 10.9% | ||
| Q4 24 | 7.2% | 9.9% | ||
| Q3 24 | 3.3% | 9.9% | ||
| Q2 24 | 2.2% | 9.4% | ||
| Q1 24 | 1.0% | 11.1% |
| Q4 25 | — | 2.17× | ||
| Q3 25 | 3.36× | 4.73× | ||
| Q2 25 | 2.01× | -0.34× | ||
| Q1 25 | -1.21× | 3.58× | ||
| Q4 24 | — | 9.44× | ||
| Q3 24 | 2.56× | — | ||
| Q2 24 | 2.96× | 2.65× | ||
| Q1 24 | -1.25× | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GOLF
| Titleist Golf Equipment | $293.8M | 62% |
| Footjoy Golf Wear | $102.0M | 21% |
| Other | $45.3M | 9% |
| Golf Gear | $36.1M | 8% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
