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Side-by-side financial comparison of HEARTLAND EXPRESS INC (HTLD) 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 $179.4M, roughly 1.5× HEARTLAND EXPRESS INC). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs -10.8%, a 15.7% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -26.1%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $-44.2M). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -18.5%).
Heartland Express is an American trucking company headquartered in North Liberty, Iowa. The company offers truckload shipping services across the United States.
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.
HTLD vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $179.4M | $274.5M |
| Net Profit | $-19.4M | $13.3M |
| Gross Margin | — | 36.1% |
| Operating Margin | -12.7% | 1.2% |
| Net Margin | -10.8% | 4.8% |
| Revenue YoY | -26.1% | 17.1% |
| Net Profit YoY | -949.2% | 69.8% |
| EPS (diluted) | $-0.24 | $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 | $179.4M | $274.5M | ||
| Q3 25 | $196.5M | $250.8M | ||
| Q2 25 | $210.4M | $250.7M | ||
| Q1 25 | $219.4M | $227.8M | ||
| Q4 24 | $242.6M | $234.3M | ||
| Q3 24 | $259.9M | $233.1M | ||
| Q2 24 | $274.8M | $257.6M | ||
| Q1 24 | $270.3M | $252.0M |
| Q4 25 | $-19.4M | $13.3M | ||
| Q3 25 | $-8.3M | $7.5M | ||
| Q2 25 | $-10.9M | $6.6M | ||
| Q1 25 | $-13.9M | $3.8M | ||
| Q4 24 | $-1.9M | $7.8M | ||
| Q3 24 | $-9.3M | $-233.6M | ||
| Q2 24 | $-3.5M | $20.2M | ||
| Q1 24 | $-15.1M | $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 | -12.7% | 1.2% | ||
| Q3 25 | -3.7% | 3.1% | ||
| Q2 25 | -5.9% | 0.0% | ||
| Q1 25 | -6.8% | 0.8% | ||
| Q4 24 | 0.4% | 6.0% | ||
| Q3 24 | -2.7% | -108.7% | ||
| Q2 24 | 0.1% | 4.7% | ||
| Q1 24 | -5.3% | 7.6% |
| Q4 25 | -10.8% | 4.8% | ||
| Q3 25 | -4.2% | 3.0% | ||
| Q2 25 | -5.2% | 2.6% | ||
| Q1 25 | -6.3% | 1.6% | ||
| Q4 24 | -0.8% | 3.3% | ||
| Q3 24 | -3.6% | -100.2% | ||
| Q2 24 | -1.3% | 7.8% | ||
| Q1 24 | -5.6% | 9.6% |
| Q4 25 | $-0.24 | $0.30 | ||
| Q3 25 | $-0.11 | $0.18 | ||
| Q2 25 | $-0.14 | $0.16 | ||
| Q1 25 | $-0.18 | $0.09 | ||
| Q4 24 | $-0.03 | $0.27 | ||
| Q3 24 | $-0.12 | $-5.33 | ||
| Q2 24 | $-0.04 | $0.45 | ||
| Q1 24 | $-0.19 | $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 | $18.5M | $839.3M |
| Total DebtLower is stronger | $154.1M | — |
| Stockholders' EquityBook value | $755.3M | $2.1B |
| Total Assets | $1.2B | $2.4B |
| Debt / EquityLower = less leverage | 0.20× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.5M | $839.3M | ||
| Q3 25 | $32.7M | $870.4M | ||
| Q2 25 | $22.9M | $899.6M | ||
| Q1 25 | $23.9M | $926.9M | ||
| Q4 24 | $12.8M | $930.2M | ||
| Q3 24 | $30.7M | $1.0B | ||
| Q2 24 | $23.9M | $1.1B | ||
| Q1 24 | $23.8M | $1.1B |
| Q4 25 | $154.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $187.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $755.3M | $2.1B | ||
| Q3 25 | $775.6M | $2.1B | ||
| Q2 25 | $786.7M | $2.1B | ||
| Q1 25 | $807.7M | $2.1B | ||
| Q4 24 | $822.6M | $2.0B | ||
| Q3 24 | $825.7M | $2.1B | ||
| Q2 24 | $836.8M | $2.3B | ||
| Q1 24 | $848.8M | $2.3B |
| Q4 25 | $1.2B | $2.4B | ||
| Q3 25 | $1.3B | $2.4B | ||
| Q2 25 | $1.3B | $2.4B | ||
| Q1 25 | $1.3B | $2.3B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $1.4B | $2.4B | ||
| Q2 24 | $1.4B | $2.5B | ||
| Q1 24 | $1.5B | $2.6B |
| Q4 25 | 0.20× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.23× | — | ||
| 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 | $14.9M | $28.8M |
| Free Cash FlowOCF − Capex | $-44.2M | $10.9M |
| FCF MarginFCF / Revenue | -24.6% | 4.0% |
| Capex IntensityCapex / Revenue | 33.0% | 6.5% |
| Cash ConversionOCF / Net Profit | — | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $-66.9M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.9M | $28.8M | ||
| Q3 25 | $27.5M | $35.3M | ||
| Q2 25 | $21.0M | $-2.2M | ||
| Q1 25 | $25.8M | $13.4M | ||
| Q4 24 | $37.8M | $73.8M | ||
| Q3 24 | $35.6M | $66.1M | ||
| Q2 24 | $40.0M | $53.5M | ||
| Q1 24 | $31.0M | $54.6M |
| Q4 25 | $-44.2M | $10.9M | ||
| Q3 25 | $-12.2M | $14.6M | ||
| Q2 25 | $-12.8M | $-17.6M | ||
| Q1 25 | $2.3M | $-11.4M | ||
| Q4 24 | $-45.5M | $50.6M | ||
| Q3 24 | $24.6M | $43.0M | ||
| Q2 24 | $29.4M | $29.2M | ||
| Q1 24 | $26.3M | $26.5M |
| Q4 25 | -24.6% | 4.0% | ||
| Q3 25 | -6.2% | 5.8% | ||
| Q2 25 | -6.1% | -7.0% | ||
| Q1 25 | 1.0% | -5.0% | ||
| Q4 24 | -18.8% | 21.6% | ||
| Q3 24 | 9.5% | 18.4% | ||
| Q2 24 | 10.7% | 11.3% | ||
| Q1 24 | 9.7% | 10.5% |
| Q4 25 | 33.0% | 6.5% | ||
| Q3 25 | 20.2% | 8.3% | ||
| Q2 25 | 16.1% | 6.1% | ||
| Q1 25 | 10.7% | 10.9% | ||
| Q4 24 | 34.3% | 9.9% | ||
| Q3 24 | 4.2% | 9.9% | ||
| Q2 24 | 3.8% | 9.4% | ||
| Q1 24 | 1.7% | 11.1% |
| Q4 25 | — | 2.17× | ||
| Q3 25 | — | 4.73× | ||
| Q2 25 | — | -0.34× | ||
| Q1 25 | — | 3.58× | ||
| Q4 24 | — | 9.44× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.65× | ||
| Q1 24 | — | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTLD
Segment breakdown not available.
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
