vs
Side-by-side financial comparison of HighPeak Energy, Inc. (HPK) 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 $216.6M, roughly 1.3× HighPeak Energy, Inc.). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs -11.6%, a 16.5% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -23.3%). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -13.2%).
Duke Energy Corporation is an American electric power and natural gas holding company headquartered in Charlotte, North Carolina. The company serves over 7 million customers in the eastern United States. In 2024 it ranked as the 141st largest company in the United States – its highest-ever placement on the Fortune 500 list.
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.
HPK vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $216.6M | $274.5M |
| Net Profit | $-25.2M | $13.3M |
| Gross Margin | — | 36.1% |
| Operating Margin | -7.6% | 1.2% |
| Net Margin | -11.6% | 4.8% |
| Revenue YoY | -23.3% | 17.1% |
| Net Profit YoY | -380.7% | 69.8% |
| EPS (diluted) | $-0.16 | $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 | $216.6M | $274.5M | ||
| Q3 25 | $188.9M | $250.8M | ||
| Q2 25 | $200.4M | $250.7M | ||
| Q1 25 | $257.4M | $227.8M | ||
| Q4 24 | $282.6M | $234.3M | ||
| Q3 24 | $271.6M | $233.1M | ||
| Q2 24 | $275.3M | $257.6M | ||
| Q1 24 | $287.8M | $252.0M |
| Q4 25 | $-25.2M | $13.3M | ||
| Q3 25 | $-18.3M | $7.5M | ||
| Q2 25 | $26.2M | $6.6M | ||
| Q1 25 | $36.3M | $3.8M | ||
| Q4 24 | $9.0M | $7.8M | ||
| Q3 24 | $49.9M | $-233.6M | ||
| Q2 24 | $29.7M | $20.2M | ||
| Q1 24 | $6.4M | $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 | -7.6% | 1.2% | ||
| Q3 25 | 17.3% | 3.1% | ||
| Q2 25 | 21.7% | 0.0% | ||
| Q1 25 | 35.1% | 0.8% | ||
| Q4 24 | 26.1% | 6.0% | ||
| Q3 24 | 27.0% | -108.7% | ||
| Q2 24 | 31.7% | 4.7% | ||
| Q1 24 | 35.8% | 7.6% |
| Q4 25 | -11.6% | 4.8% | ||
| Q3 25 | -9.7% | 3.0% | ||
| Q2 25 | 13.1% | 2.6% | ||
| Q1 25 | 14.1% | 1.6% | ||
| Q4 24 | 3.2% | 3.3% | ||
| Q3 24 | 18.4% | -100.2% | ||
| Q2 24 | 10.8% | 7.8% | ||
| Q1 24 | 2.2% | 9.6% |
| Q4 25 | $-0.16 | $0.30 | ||
| Q3 25 | $-0.15 | $0.18 | ||
| Q2 25 | $0.19 | $0.16 | ||
| Q1 25 | $0.26 | $0.09 | ||
| Q4 24 | $0.06 | $0.27 | ||
| Q3 24 | $0.35 | $-5.33 | ||
| Q2 24 | $0.21 | $0.45 | ||
| Q1 24 | $0.05 | $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 | $162.1M | $839.3M |
| Total DebtLower is stronger | $1.2B | — |
| Stockholders' EquityBook value | $1.6B | $2.1B |
| Total Assets | $3.2B | $2.4B |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $162.1M | $839.3M | ||
| Q3 25 | $164.9M | $870.4M | ||
| Q2 25 | $21.9M | $899.6M | ||
| Q1 25 | $51.6M | $926.9M | ||
| Q4 24 | $86.6M | $930.2M | ||
| Q3 24 | $135.6M | $1.0B | ||
| Q2 24 | $157.9M | $1.1B | ||
| Q1 24 | $173.4M | $1.1B |
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $1.6B | $2.1B | ||
| Q3 25 | $1.6B | $2.1B | ||
| Q2 25 | $1.7B | $2.1B | ||
| Q1 25 | $1.6B | $2.1B | ||
| Q4 24 | $1.6B | $2.0B | ||
| Q3 24 | $1.6B | $2.1B | ||
| Q2 24 | $1.6B | $2.3B | ||
| Q1 24 | $1.5B | $2.3B |
| Q4 25 | $3.2B | $2.4B | ||
| Q3 25 | $3.2B | $2.4B | ||
| Q2 25 | $3.1B | $2.4B | ||
| Q1 25 | $3.1B | $2.3B | ||
| Q4 24 | $3.1B | $2.3B | ||
| Q3 24 | $3.1B | $2.4B | ||
| Q2 24 | $3.1B | $2.5B | ||
| Q1 24 | $3.1B | $2.6B |
| Q4 25 | 0.75× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | 0.63× | — | ||
| Q4 24 | 0.65× | — | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.70× | — | ||
| Q1 24 | 0.73× | — |
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 | $93.1M | $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.
| Q4 25 | $93.1M | $28.8M | ||
| Q3 25 | $120.2M | $35.3M | ||
| Q2 25 | $141.2M | $-2.2M | ||
| Q1 25 | $157.1M | $13.4M | ||
| Q4 24 | $139.5M | $73.8M | ||
| Q3 24 | $177.1M | $66.1M | ||
| Q2 24 | $202.3M | $53.5M | ||
| Q1 24 | $171.4M | $54.6M |
| 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 24 | — | $26.5M |
| 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 24 | — | 10.5% |
| 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 24 | — | 11.1% |
| Q4 25 | — | 2.17× | ||
| Q3 25 | — | 4.73× | ||
| Q2 25 | 5.39× | -0.34× | ||
| Q1 25 | 4.32× | 3.58× | ||
| Q4 24 | 15.53× | 9.44× | ||
| Q3 24 | 3.55× | — | ||
| Q2 24 | 6.81× | 2.65× | ||
| Q1 24 | 26.63× | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HPK
| Crude Oil Sales | $152.1M | 70% |
| Natural Gas And NGL Sales | $60.8M | 28% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
