vs
Side-by-side financial comparison of WARRIOR MET COAL, INC. (HCC) and IPG PHOTONICS CORP (IPGP). Click either name above to swap in a different company.
WARRIOR MET COAL, INC. is the larger business by last-quarter revenue ($458.6M vs $274.5M, roughly 1.7× IPG PHOTONICS CORP). WARRIOR MET COAL, INC. runs the higher net margin — 15.8% vs 4.8%, a 10.9% gap on every dollar of revenue. On growth, WARRIOR MET COAL, INC. posted the faster year-over-year revenue change (52.1% vs 17.1%). Over the past eight quarters, WARRIOR MET COAL, INC.'s revenue compounded faster (7.5% CAGR vs 4.4%).
Warrior Met Coal, Inc. (ticker HCC) is a U.S.-headquartered mining enterprise that produces and distributes high-grade metallurgical coal, a key raw material for steel production. It serves steel manufacturers and industrial clients across core markets including North America, Europe, and Asia.
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.
HCC vs IPGP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $458.6M | $274.5M |
| Net Profit | $72.3M | $13.3M |
| Gross Margin | 36.7% | 36.1% |
| Operating Margin | 17.3% | 1.2% |
| Net Margin | 15.8% | 4.8% |
| Revenue YoY | 52.1% | 17.1% |
| Net Profit YoY | — | 69.8% |
| EPS (diluted) | $1.37 | $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.
| Q1 26 | $458.6M | — | ||
| Q4 25 | $384.0M | $274.5M | ||
| Q3 25 | $328.6M | $250.8M | ||
| Q2 25 | $297.5M | $250.7M | ||
| Q1 25 | $299.9M | $227.8M | ||
| Q4 24 | $297.5M | $234.3M | ||
| Q3 24 | $327.7M | $233.1M | ||
| Q2 24 | $396.5M | $257.6M |
| Q1 26 | $72.3M | — | ||
| Q4 25 | $23.0M | $13.3M | ||
| Q3 25 | $36.6M | $7.5M | ||
| Q2 25 | $5.6M | $6.6M | ||
| Q1 25 | $-8.2M | $3.8M | ||
| Q4 24 | $1.1M | $7.8M | ||
| Q3 24 | $41.8M | $-233.6M | ||
| Q2 24 | $70.7M | $20.2M |
| Q1 26 | 36.7% | — | ||
| Q4 25 | 29.5% | 36.1% | ||
| Q3 25 | 27.1% | 39.5% | ||
| Q2 25 | 23.9% | 37.3% | ||
| Q1 25 | 18.1% | 39.4% | ||
| Q4 24 | 23.1% | 38.6% | ||
| Q3 24 | 29.3% | 23.2% | ||
| Q2 24 | 34.1% | 37.3% |
| Q1 26 | 17.3% | — | ||
| Q4 25 | 9.0% | 1.2% | ||
| Q3 25 | 6.3% | 3.1% | ||
| Q2 25 | 2.6% | 0.0% | ||
| Q1 25 | -5.8% | 0.8% | ||
| Q4 24 | -1.4% | 6.0% | ||
| Q3 24 | 11.9% | -108.7% | ||
| Q2 24 | 17.9% | 4.7% |
| Q1 26 | 15.8% | — | ||
| Q4 25 | 6.0% | 4.8% | ||
| Q3 25 | 11.1% | 3.0% | ||
| Q2 25 | 1.9% | 2.6% | ||
| Q1 25 | -2.7% | 1.6% | ||
| Q4 24 | 0.4% | 3.3% | ||
| Q3 24 | 12.7% | -100.2% | ||
| Q2 24 | 17.8% | 7.8% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $0.43 | $0.30 | ||
| Q3 25 | $0.70 | $0.18 | ||
| Q2 25 | $0.11 | $0.16 | ||
| Q1 25 | $-0.16 | $0.09 | ||
| Q4 24 | $0.02 | $0.27 | ||
| Q3 24 | $0.80 | $-5.33 | ||
| Q2 24 | $1.35 | $0.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $233.2M | $839.3M |
| Total DebtLower is stronger | $154.4M | — |
| Stockholders' EquityBook value | — | $2.1B |
| Total Assets | $2.8B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $233.2M | — | ||
| Q4 25 | $300.0M | $839.3M | ||
| Q3 25 | $336.3M | $870.4M | ||
| Q2 25 | $383.3M | $899.6M | ||
| Q1 25 | $454.9M | $926.9M | ||
| Q4 24 | $491.5M | $930.2M | ||
| Q3 24 | $583.2M | $1.0B | ||
| Q2 24 | $709.0M | $1.1B |
| Q1 26 | $154.4M | — | ||
| Q4 25 | $154.3M | — | ||
| Q3 25 | $154.1M | — | ||
| Q2 25 | $153.9M | — | ||
| Q1 25 | $153.8M | — | ||
| Q4 24 | $153.6M | — | ||
| Q3 24 | $153.5M | — | ||
| Q2 24 | $153.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | $2.1B | $2.1B | ||
| Q3 25 | $2.1B | $2.1B | ||
| Q2 25 | $2.1B | $2.1B | ||
| Q1 25 | $2.1B | $2.1B | ||
| Q4 24 | $2.1B | $2.0B | ||
| Q3 24 | $2.1B | $2.1B | ||
| Q2 24 | $2.0B | $2.3B |
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.8B | $2.4B | ||
| Q3 25 | $2.7B | $2.4B | ||
| Q2 25 | $2.6B | $2.4B | ||
| Q1 25 | $2.6B | $2.3B | ||
| Q4 24 | $2.6B | $2.3B | ||
| Q3 24 | $2.6B | $2.4B | ||
| Q2 24 | $2.6B | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.07× | — | ||
| Q2 25 | 0.07× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 0.07× | — | ||
| Q3 24 | 0.07× | — | ||
| Q2 24 | 0.07× | — |
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 | — | $28.8M |
| Free Cash FlowOCF − Capex | — | $10.9M |
| FCF MarginFCF / Revenue | — | 4.0% |
| Capex IntensityCapex / Revenue | — | 6.5% |
| Cash ConversionOCF / Net Profit | — | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $76.1M | $28.8M | ||
| Q3 25 | $104.7M | $35.3M | ||
| Q2 25 | $37.5M | $-2.2M | ||
| Q1 25 | $10.9M | $13.4M | ||
| Q4 24 | $54.2M | $73.8M | ||
| Q3 24 | $62.2M | $66.1M | ||
| Q2 24 | $147.0M | $53.5M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 3.31× | 2.17× | ||
| Q3 25 | 2.86× | 4.73× | ||
| Q2 25 | 6.70× | -0.34× | ||
| Q1 25 | — | 3.58× | ||
| Q4 24 | 47.68× | 9.44× | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 2.08× | 2.65× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCC
| Sales | $448.5M | 98% |
| Other revenues | $10.1M | 2% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
