vs
Side-by-side financial comparison of Hillman Solutions Corp. (HLMN) and IPG PHOTONICS CORP (IPGP). Click either name above to swap in a different company.
Hillman Solutions Corp. is the larger business by last-quarter revenue ($370.1M vs $274.5M, roughly 1.3× IPG PHOTONICS CORP). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs -1.3%, a 6.1% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs 3.0%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $-34.3M). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -1.2%).
Hillman Solutions is an American hardware manufacturing, distribution and consumer fabrication services company.
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.
HLMN vs IPGP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $370.1M | $274.5M |
| Net Profit | $-4.7M | $13.3M |
| Gross Margin | — | 36.1% |
| Operating Margin | 1.9% | 1.2% |
| Net Margin | -1.3% | 4.8% |
| Revenue YoY | 3.0% | 17.1% |
| Net Profit YoY | — | 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.
| Q1 26 | $370.1M | — | ||
| Q4 25 | $365.1M | $274.5M | ||
| Q3 25 | $424.9M | $250.8M | ||
| Q2 25 | $402.8M | $250.7M | ||
| Q1 25 | $359.3M | $227.8M | ||
| Q4 24 | $349.6M | $234.3M | ||
| Q3 24 | $393.3M | $233.1M | ||
| Q2 24 | $379.4M | $257.6M |
| Q1 26 | $-4.7M | — | ||
| Q4 25 | $1.6M | $13.3M | ||
| Q3 25 | $23.2M | $7.5M | ||
| Q2 25 | $15.8M | $6.6M | ||
| Q1 25 | $-317.0K | $3.8M | ||
| Q4 24 | $-1.2M | $7.8M | ||
| Q3 24 | $7.4M | $-233.6M | ||
| Q2 24 | $12.5M | $20.2M |
| Q1 26 | — | — | ||
| 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 26 | 1.9% | — | ||
| Q4 25 | 4.6% | 1.2% | ||
| Q3 25 | 10.8% | 3.1% | ||
| Q2 25 | 9.0% | 0.0% | ||
| Q1 25 | 4.2% | 0.8% | ||
| Q4 24 | 4.0% | 6.0% | ||
| Q3 24 | 6.8% | -108.7% | ||
| Q2 24 | 8.3% | 4.7% |
| Q1 26 | -1.3% | — | ||
| Q4 25 | 0.4% | 4.8% | ||
| Q3 25 | 5.5% | 3.0% | ||
| Q2 25 | 3.9% | 2.6% | ||
| Q1 25 | -0.1% | 1.6% | ||
| Q4 24 | -0.3% | 3.3% | ||
| Q3 24 | 1.9% | -100.2% | ||
| Q2 24 | 3.3% | 7.8% |
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $0.00 | $0.30 | ||
| Q3 25 | $0.12 | $0.18 | ||
| Q2 25 | $0.08 | $0.16 | ||
| Q1 25 | $0.00 | $0.09 | ||
| Q4 24 | $-0.00 | $0.27 | ||
| Q3 24 | $0.04 | $-5.33 | ||
| Q2 24 | $0.06 | $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 | $27.7M | $839.3M |
| Total DebtLower is stronger | $714.1M | — |
| Stockholders' EquityBook value | $1.2B | $2.1B |
| Total Assets | $2.4B | $2.4B |
| Debt / EquityLower = less leverage | 0.59× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $27.7M | — | ||
| Q4 25 | $27.3M | $839.3M | ||
| Q3 25 | $37.7M | $870.4M | ||
| Q2 25 | $34.2M | $899.6M | ||
| Q1 25 | $36.3M | $926.9M | ||
| Q4 24 | $44.5M | $930.2M | ||
| Q3 24 | $59.8M | $1.0B | ||
| Q2 24 | $54.0M | $1.1B |
| Q1 26 | $714.1M | — | ||
| Q4 25 | $668.3M | — | ||
| Q3 25 | $683.2M | — | ||
| Q2 25 | $683.1M | — | ||
| Q1 25 | $713.5M | — | ||
| Q4 24 | $691.7M | — | ||
| Q3 24 | $730.7M | — | ||
| Q2 24 | $732.1M | — |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $2.1B | ||
| Q3 25 | $1.2B | $2.1B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | $1.2B | $2.1B | ||
| Q4 24 | $1.2B | $2.0B | ||
| Q3 24 | $1.2B | $2.1B | ||
| Q2 24 | $1.2B | $2.3B |
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.4B | $2.4B | ||
| Q3 25 | $2.4B | $2.4B | ||
| Q2 25 | $2.4B | $2.4B | ||
| Q1 25 | $2.3B | $2.3B | ||
| Q4 24 | $2.3B | $2.3B | ||
| Q3 24 | $2.4B | $2.4B | ||
| Q2 24 | $2.4B | $2.5B |
| Q1 26 | 0.59× | — | ||
| Q4 25 | 0.54× | — | ||
| Q3 25 | 0.56× | — | ||
| Q2 25 | 0.57× | — | ||
| Q1 25 | 0.60× | — | ||
| Q4 24 | 0.59× | — | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.62× | — |
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 | $-34.3M | $10.9M |
| FCF MarginFCF / Revenue | -9.3% | 4.0% |
| Capex IntensityCapex / Revenue | 4.0% | 6.5% |
| Cash ConversionOCF / Net Profit | — | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $22.1M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $30.9M | $28.8M | ||
| Q3 25 | $26.2M | $35.3M | ||
| Q2 25 | $48.7M | $-2.2M | ||
| Q1 25 | $-655.0K | $13.4M | ||
| Q4 24 | $43.1M | $73.8M | ||
| Q3 24 | $63.7M | $66.1M | ||
| Q2 24 | $64.8M | $53.5M |
| Q1 26 | $-34.3M | — | ||
| Q4 25 | $16.1M | $10.9M | ||
| Q3 25 | $9.1M | $14.6M | ||
| Q2 25 | $31.2M | $-17.6M | ||
| Q1 25 | $-21.3M | $-11.4M | ||
| Q4 24 | $22.1M | $50.6M | ||
| Q3 24 | $39.6M | $43.0M | ||
| Q2 24 | $42.5M | $29.2M |
| Q1 26 | -9.3% | — | ||
| Q4 25 | 4.4% | 4.0% | ||
| Q3 25 | 2.1% | 5.8% | ||
| Q2 25 | 7.7% | -7.0% | ||
| Q1 25 | -5.9% | -5.0% | ||
| Q4 24 | 6.3% | 21.6% | ||
| Q3 24 | 10.1% | 18.4% | ||
| Q2 24 | 11.2% | 11.3% |
| Q1 26 | 4.0% | — | ||
| Q4 25 | 4.0% | 6.5% | ||
| Q3 25 | 4.0% | 8.3% | ||
| Q2 25 | 4.3% | 6.1% | ||
| Q1 25 | 5.7% | 10.9% | ||
| Q4 24 | 6.0% | 9.9% | ||
| Q3 24 | 6.1% | 9.9% | ||
| Q2 24 | 5.9% | 9.4% |
| Q1 26 | — | — | ||
| Q4 25 | 19.33× | 2.17× | ||
| Q3 25 | 1.13× | 4.73× | ||
| Q2 25 | 3.08× | -0.34× | ||
| Q1 25 | — | 3.58× | ||
| Q4 24 | — | 9.44× | ||
| Q3 24 | 8.57× | — | ||
| Q2 24 | 5.17× | 2.65× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HLMN
Segment breakdown not available.
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
