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Side-by-side financial comparison of HCI Group, Inc. (HCI) 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 $246.2M, roughly 1.1× HCI Group, Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs 4.8%, a 34.8% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs 17.1%). HCI Group, Inc. produced more free cash flow last quarter ($440.8M vs $10.9M). Over the past eight quarters, HCI Group, Inc.'s revenue compounded faster (9.2% CAGR vs 4.4%).
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
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.
HCI vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $246.2M | $274.5M |
| Net Profit | $97.7M | $13.3M |
| Gross Margin | — | 36.1% |
| Operating Margin | 58.5% | 1.2% |
| Net Margin | 39.7% | 4.8% |
| Revenue YoY | 52.1% | 17.1% |
| Net Profit YoY | 3679.2% | 69.8% |
| EPS (diluted) | $7.29 | $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 | $246.2M | $274.5M | ||
| Q3 25 | $216.3M | $250.8M | ||
| Q2 25 | $221.9M | $250.7M | ||
| Q1 25 | $216.4M | $227.8M | ||
| Q4 24 | $161.9M | $234.3M | ||
| Q3 24 | $175.3M | $233.1M | ||
| Q2 24 | $206.2M | $257.6M | ||
| Q1 24 | $206.6M | $252.0M |
| Q4 25 | $97.7M | $13.3M | ||
| Q3 25 | $65.5M | $7.5M | ||
| Q2 25 | $66.2M | $6.6M | ||
| Q1 25 | $69.7M | $3.8M | ||
| Q4 24 | $2.6M | $7.8M | ||
| Q3 24 | $5.7M | $-233.6M | ||
| Q2 24 | $54.1M | $20.2M | ||
| Q1 24 | $47.6M | $24.1M |
| Q4 25 | — | 36.1% | ||
| Q3 25 | — | 39.5% | ||
| Q2 25 | — | 37.3% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | — | 38.6% | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 37.3% | ||
| Q1 24 | — | 38.7% |
| Q4 25 | 58.5% | 1.2% | ||
| Q3 25 | 41.9% | 3.1% | ||
| Q2 25 | 42.5% | 0.0% | ||
| Q1 25 | 46.4% | 0.8% | ||
| Q4 24 | 3.6% | 6.0% | ||
| Q3 24 | 8.0% | -108.7% | ||
| Q2 24 | 36.9% | 4.7% | ||
| Q1 24 | 37.5% | 7.6% |
| Q4 25 | 39.7% | 4.8% | ||
| Q3 25 | 30.3% | 3.0% | ||
| Q2 25 | 29.8% | 2.6% | ||
| Q1 25 | 32.2% | 1.6% | ||
| Q4 24 | 1.6% | 3.3% | ||
| Q3 24 | 3.2% | -100.2% | ||
| Q2 24 | 26.2% | 7.8% | ||
| Q1 24 | 23.0% | 9.6% |
| Q4 25 | $7.29 | $0.30 | ||
| Q3 25 | $4.90 | $0.18 | ||
| Q2 25 | $5.18 | $0.16 | ||
| Q1 25 | $5.35 | $0.09 | ||
| Q4 24 | $0.32 | $0.27 | ||
| Q3 24 | $0.52 | $-5.33 | ||
| Q2 24 | $4.24 | $0.45 | ||
| Q1 24 | $3.81 | $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 | $1.2B | $839.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.0B | $2.1B |
| Total Assets | $2.5B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | $839.3M | ||
| Q3 25 | $987.9M | $870.4M | ||
| Q2 25 | $947.2M | $899.6M | ||
| Q1 25 | $754.5M | $926.9M | ||
| Q4 24 | $532.5M | $930.2M | ||
| Q3 24 | $518.8M | $1.0B | ||
| Q2 24 | $445.8M | $1.1B | ||
| Q1 24 | $655.4M | $1.1B |
| Q4 25 | $1.0B | $2.1B | ||
| Q3 25 | $821.8M | $2.1B | ||
| Q2 25 | $758.6M | $2.1B | ||
| Q1 25 | $522.7M | $2.1B | ||
| Q4 24 | $453.3M | $2.0B | ||
| Q3 24 | $455.3M | $2.1B | ||
| Q2 24 | $447.3M | $2.3B | ||
| Q1 24 | $395.7M | $2.3B |
| Q4 25 | $2.5B | $2.4B | ||
| Q3 25 | $2.3B | $2.4B | ||
| Q2 25 | $2.4B | $2.4B | ||
| Q1 25 | $2.3B | $2.3B | ||
| Q4 24 | $2.2B | $2.3B | ||
| Q3 24 | $2.0B | $2.4B | ||
| Q2 24 | $1.9B | $2.5B | ||
| Q1 24 | $1.8B | $2.6B |
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 | $444.4M | $28.8M |
| Free Cash FlowOCF − Capex | $440.8M | $10.9M |
| FCF MarginFCF / Revenue | 179.0% | 4.0% |
| Capex IntensityCapex / Revenue | 1.5% | 6.5% |
| Cash ConversionOCF / Net Profit | 4.55× | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $771.4M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $444.4M | $28.8M | ||
| Q3 25 | $26.7M | $35.3M | ||
| Q2 25 | $145.0M | $-2.2M | ||
| Q1 25 | $162.0M | $13.4M | ||
| Q4 24 | $331.8M | $73.8M | ||
| Q3 24 | $104.1M | $66.1M | ||
| Q2 24 | $-29.0M | $53.5M | ||
| Q1 24 | $182.0M | $54.6M |
| Q4 25 | $440.8M | $10.9M | ||
| Q3 25 | $25.9M | $14.6M | ||
| Q2 25 | $144.5M | $-17.6M | ||
| Q1 25 | $160.3M | $-11.4M | ||
| Q4 24 | $327.8M | $50.6M | ||
| Q3 24 | $103.2M | $43.0M | ||
| Q2 24 | $-30.1M | $29.2M | ||
| Q1 24 | $181.0M | $26.5M |
| Q4 25 | 179.0% | 4.0% | ||
| Q3 25 | 12.0% | 5.8% | ||
| Q2 25 | 65.1% | -7.0% | ||
| Q1 25 | 74.1% | -5.0% | ||
| Q4 24 | 202.5% | 21.6% | ||
| Q3 24 | 58.9% | 18.4% | ||
| Q2 24 | -14.6% | 11.3% | ||
| Q1 24 | 87.6% | 10.5% |
| Q4 25 | 1.5% | 6.5% | ||
| Q3 25 | 0.4% | 8.3% | ||
| Q2 25 | 0.2% | 6.1% | ||
| Q1 25 | 0.8% | 10.9% | ||
| Q4 24 | 2.5% | 9.9% | ||
| Q3 24 | 0.5% | 9.9% | ||
| Q2 24 | 0.5% | 9.4% | ||
| Q1 24 | 0.5% | 11.1% |
| Q4 25 | 4.55× | 2.17× | ||
| Q3 25 | 0.41× | 4.73× | ||
| Q2 25 | 2.19× | -0.34× | ||
| Q1 25 | 2.32× | 3.58× | ||
| Q4 24 | 128.41× | 9.44× | ||
| Q3 24 | 18.33× | — | ||
| Q2 24 | -0.54× | 2.65× | ||
| Q1 24 | 3.82× | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
