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Side-by-side financial comparison of ICF International, Inc. (ICFI) and IPG PHOTONICS CORP (IPGP). Click either name above to swap in a different company.
ICF International, Inc. is the larger business by last-quarter revenue ($437.5M vs $274.5M, roughly 1.6× IPG PHOTONICS CORP). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs 4.7%, a 0.1% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -10.3%). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -7.6%).
ICF International, Inc. is an American publicly traded consulting and technology services company based in Reston, Virginia.
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.
ICFI vs IPGP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $437.5M | $274.5M |
| Net Profit | $20.5M | $13.3M |
| Gross Margin | — | 36.1% |
| Operating Margin | 8.0% | 1.2% |
| Net Margin | 4.7% | 4.8% |
| Revenue YoY | -10.3% | 17.1% |
| Net Profit YoY | -23.6% | 69.8% |
| EPS (diluted) | $1.12 | $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 | $437.5M | — | ||
| Q4 25 | $443.7M | $274.5M | ||
| Q3 25 | $465.4M | $250.8M | ||
| Q2 25 | $476.2M | $250.7M | ||
| Q1 25 | $487.6M | $227.8M | ||
| Q4 24 | $496.3M | $234.3M | ||
| Q3 24 | $517.0M | $233.1M | ||
| Q2 24 | $512.0M | $257.6M |
| Q1 26 | $20.5M | — | ||
| Q4 25 | $17.3M | $13.3M | ||
| Q3 25 | $23.8M | $7.5M | ||
| Q2 25 | $23.7M | $6.6M | ||
| Q1 25 | $26.9M | $3.8M | ||
| Q4 24 | $24.6M | $7.8M | ||
| Q3 24 | $32.7M | $-233.6M | ||
| Q2 24 | $25.6M | $20.2M |
| Q1 26 | — | — | ||
| Q4 25 | 35.7% | 36.1% | ||
| Q3 25 | 37.6% | 39.5% | ||
| Q2 25 | 37.3% | 37.3% | ||
| Q1 25 | 38.0% | 39.4% | ||
| Q4 24 | 36.1% | 38.6% | ||
| Q3 24 | 37.1% | 23.2% | ||
| Q2 24 | 35.7% | 37.3% |
| Q1 26 | 8.0% | — | ||
| Q4 25 | 6.5% | 1.2% | ||
| Q3 25 | 8.3% | 3.1% | ||
| Q2 25 | 8.4% | 0.0% | ||
| Q1 25 | 7.9% | 0.8% | ||
| Q4 24 | 7.3% | 6.0% | ||
| Q3 24 | 8.9% | -108.7% | ||
| Q2 24 | 8.3% | 4.7% |
| Q1 26 | 4.7% | — | ||
| Q4 25 | 3.9% | 4.8% | ||
| Q3 25 | 5.1% | 3.0% | ||
| Q2 25 | 5.0% | 2.6% | ||
| Q1 25 | 5.5% | 1.6% | ||
| Q4 24 | 4.9% | 3.3% | ||
| Q3 24 | 6.3% | -100.2% | ||
| Q2 24 | 5.0% | 7.8% |
| Q1 26 | $1.12 | — | ||
| Q4 25 | $0.95 | $0.30 | ||
| Q3 25 | $1.28 | $0.18 | ||
| Q2 25 | $1.28 | $0.16 | ||
| Q1 25 | $1.44 | $0.09 | ||
| Q4 24 | $1.29 | $0.27 | ||
| Q3 24 | $1.73 | $-5.33 | ||
| Q2 24 | $1.36 | $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 | $3.9M | $839.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $2.1B |
| Total Assets | $2.1B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.9M | — | ||
| Q4 25 | $5.3M | $839.3M | ||
| Q3 25 | $4.0M | $870.4M | ||
| Q2 25 | $7.0M | $899.6M | ||
| Q1 25 | $5.7M | $926.9M | ||
| Q4 24 | $5.0M | $930.2M | ||
| Q3 24 | $6.9M | $1.0B | ||
| Q2 24 | $4.1M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | $401.4M | — | ||
| Q3 25 | $449.4M | — | ||
| Q2 25 | $462.3M | — | ||
| Q1 25 | $502.0M | — | ||
| Q4 24 | $411.7M | — | ||
| Q3 24 | $419.1M | — | ||
| Q2 24 | $433.9M | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $2.1B | ||
| Q3 25 | $1.0B | $2.1B | ||
| Q2 25 | $1.0B | $2.1B | ||
| Q1 25 | $968.9M | $2.1B | ||
| Q4 24 | $982.5M | $2.0B | ||
| Q3 24 | $976.3M | $2.1B | ||
| Q2 24 | $943.3M | $2.3B |
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | $2.4B | ||
| Q3 25 | $2.1B | $2.4B | ||
| Q2 25 | $2.1B | $2.4B | ||
| Q1 25 | $2.1B | $2.3B | ||
| Q4 24 | $2.1B | $2.3B | ||
| Q3 24 | $2.0B | $2.4B | ||
| Q2 24 | $2.0B | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.39× | — | ||
| Q3 25 | 0.44× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.52× | — | ||
| Q4 24 | 0.42× | — | ||
| Q3 24 | 0.43× | — | ||
| Q2 24 | 0.46× | — |
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 | $75.6M | $28.8M | ||
| Q3 25 | $47.3M | $35.3M | ||
| Q2 25 | $52.0M | $-2.2M | ||
| Q1 25 | $-33.0M | $13.4M | ||
| Q4 24 | $95.4M | $73.8M | ||
| Q3 24 | $25.5M | $66.1M | ||
| Q2 24 | $60.6M | $53.5M |
| Q1 26 | — | — | ||
| Q4 25 | $68.7M | $10.9M | ||
| Q3 25 | $41.8M | $14.6M | ||
| Q2 25 | $46.2M | $-17.6M | ||
| Q1 25 | $-36.5M | $-11.4M | ||
| Q4 24 | $89.5M | $50.6M | ||
| Q3 24 | $20.4M | $43.0M | ||
| Q2 24 | $55.5M | $29.2M |
| Q1 26 | — | — | ||
| Q4 25 | 15.5% | 4.0% | ||
| Q3 25 | 9.0% | 5.8% | ||
| Q2 25 | 9.7% | -7.0% | ||
| Q1 25 | -7.5% | -5.0% | ||
| Q4 24 | 18.0% | 21.6% | ||
| Q3 24 | 3.9% | 18.4% | ||
| Q2 24 | 10.8% | 11.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.6% | 6.5% | ||
| Q3 25 | 1.2% | 8.3% | ||
| Q2 25 | 1.2% | 6.1% | ||
| Q1 25 | 0.7% | 10.9% | ||
| Q4 24 | 1.2% | 9.9% | ||
| Q3 24 | 1.0% | 9.9% | ||
| Q2 24 | 1.0% | 9.4% |
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | 2.17× | ||
| Q3 25 | 1.99× | 4.73× | ||
| Q2 25 | 2.20× | -0.34× | ||
| Q1 25 | -1.23× | 3.58× | ||
| Q4 24 | 3.88× | 9.44× | ||
| Q3 24 | 0.78× | — | ||
| Q2 24 | 2.37× | 2.65× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ICFI
Segment breakdown not available.
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
