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Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and Janus International Group, Inc. (JBI). Click either name above to swap in a different company.
IPG PHOTONICS CORP is the larger business by last-quarter revenue ($274.5M vs $219.3M, roughly 1.3× Janus International Group, Inc.). Janus International Group, Inc. runs the higher net margin — 6.9% vs 4.8%, a 2.1% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -4.7%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $8.3M). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -8.8%).
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.
Janus Henderson is a British-American global asset management group headquartered in the City of London, United Kingdom. It offers a range of financial products to individuals, intermediary advisors, and institutional investors globally under the trade name Janus Henderson Investors.
IPGP vs JBI — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $219.3M |
| Net Profit | $13.3M | $15.2M |
| Gross Margin | 36.1% | 39.1% |
| Operating Margin | 1.2% | 13.4% |
| Net Margin | 4.8% | 6.9% |
| Revenue YoY | 17.1% | -4.7% |
| Net Profit YoY | 69.8% | 28.8% |
| EPS (diluted) | $0.30 | $0.11 |
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 | $274.5M | — | ||
| Q3 25 | $250.8M | $219.3M | ||
| Q2 25 | $250.7M | $228.1M | ||
| Q1 25 | $227.8M | $210.5M | ||
| Q4 24 | $234.3M | $230.8M | ||
| Q3 24 | $233.1M | $230.1M | ||
| Q2 24 | $257.6M | $248.4M | ||
| Q1 24 | $252.0M | $254.5M |
| Q4 25 | $13.3M | — | ||
| Q3 25 | $7.5M | $15.2M | ||
| Q2 25 | $6.6M | $20.7M | ||
| Q1 25 | $3.8M | $10.8M | ||
| Q4 24 | $7.8M | $300.0K | ||
| Q3 24 | $-233.6M | $11.8M | ||
| Q2 24 | $20.2M | $27.6M | ||
| Q1 24 | $24.1M | $30.7M |
| Q4 25 | 36.1% | — | ||
| Q3 25 | 39.5% | 39.1% | ||
| Q2 25 | 37.3% | 40.9% | ||
| Q1 25 | 39.4% | 38.9% | ||
| Q4 24 | 38.6% | 37.8% | ||
| Q3 24 | 23.2% | 39.6% | ||
| Q2 24 | 37.3% | 43.9% | ||
| Q1 24 | 38.7% | 43.4% |
| Q4 25 | 1.2% | — | ||
| Q3 25 | 3.1% | 13.4% | ||
| Q2 25 | 0.0% | 15.8% | ||
| Q1 25 | 0.8% | 12.0% | ||
| Q4 24 | 6.0% | 5.5% | ||
| Q3 24 | -108.7% | 11.6% | ||
| Q2 24 | 4.7% | 20.8% | ||
| Q1 24 | 7.6% | 21.8% |
| Q4 25 | 4.8% | — | ||
| Q3 25 | 3.0% | 6.9% | ||
| Q2 25 | 2.6% | 9.1% | ||
| Q1 25 | 1.6% | 5.1% | ||
| Q4 24 | 3.3% | 0.1% | ||
| Q3 24 | -100.2% | 5.1% | ||
| Q2 24 | 7.8% | 11.1% | ||
| Q1 24 | 9.6% | 12.1% |
| Q4 25 | $0.30 | — | ||
| Q3 25 | $0.18 | $0.11 | ||
| Q2 25 | $0.16 | $0.15 | ||
| Q1 25 | $0.09 | $0.08 | ||
| Q4 24 | $0.27 | $0.01 | ||
| Q3 24 | $-5.33 | $0.08 | ||
| Q2 24 | $0.45 | $0.19 | ||
| Q1 24 | $0.52 | $0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $839.3M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $560.8M |
| Total Assets | $2.4B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $839.3M | — | ||
| Q3 25 | $870.4M | — | ||
| Q2 25 | $899.6M | — | ||
| Q1 25 | $926.9M | — | ||
| Q4 24 | $930.2M | — | ||
| Q3 24 | $1.0B | $102.1M | ||
| Q2 24 | $1.1B | $110.1M | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | $560.8M | ||
| Q2 25 | $2.1B | $543.8M | ||
| Q1 25 | $2.1B | $526.8M | ||
| Q4 24 | $2.0B | $518.8M | ||
| Q3 24 | $2.1B | $526.6M | ||
| Q2 24 | $2.3B | $556.3M | ||
| Q1 24 | $2.3B | $535.4M |
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | $1.3B | ||
| Q2 25 | $2.4B | $1.3B | ||
| Q1 25 | $2.3B | $1.3B | ||
| Q4 24 | $2.3B | $1.3B | ||
| Q3 24 | $2.4B | $1.3B | ||
| Q2 24 | $2.5B | $1.3B | ||
| Q1 24 | $2.6B | $1.4B |
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 | $15.0M |
| Free Cash FlowOCF − Capex | $10.9M | $8.3M |
| FCF MarginFCF / Revenue | 4.0% | 3.8% |
| Capex IntensityCapex / Revenue | 6.5% | 3.1% |
| Cash ConversionOCF / Net Profit | 2.17× | 0.99× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.5M | $140.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.8M | — | ||
| Q3 25 | $35.3M | $15.0M | ||
| Q2 25 | $-2.2M | $51.4M | ||
| Q1 25 | $13.4M | $48.3M | ||
| Q4 24 | $73.8M | $51.4M | ||
| Q3 24 | $66.1M | $43.0M | ||
| Q2 24 | $53.5M | $31.0M | ||
| Q1 24 | $54.6M | $28.6M |
| Q4 25 | $10.9M | — | ||
| Q3 25 | $14.6M | $8.3M | ||
| Q2 25 | $-17.6M | $44.6M | ||
| Q1 25 | $-11.4M | $41.9M | ||
| Q4 24 | $50.6M | $45.3M | ||
| Q3 24 | $43.0M | $39.3M | ||
| Q2 24 | $29.2M | $25.3M | ||
| Q1 24 | $26.5M | $24.0M |
| Q4 25 | 4.0% | — | ||
| Q3 25 | 5.8% | 3.8% | ||
| Q2 25 | -7.0% | 19.6% | ||
| Q1 25 | -5.0% | 19.9% | ||
| Q4 24 | 21.6% | 19.6% | ||
| Q3 24 | 18.4% | 17.1% | ||
| Q2 24 | 11.3% | 10.2% | ||
| Q1 24 | 10.5% | 9.4% |
| Q4 25 | 6.5% | — | ||
| Q3 25 | 8.3% | 3.1% | ||
| Q2 25 | 6.1% | 3.0% | ||
| Q1 25 | 10.9% | 3.0% | ||
| Q4 24 | 9.9% | 2.6% | ||
| Q3 24 | 9.9% | 1.6% | ||
| Q2 24 | 9.4% | 2.3% | ||
| Q1 24 | 11.1% | 1.8% |
| Q4 25 | 2.17× | — | ||
| Q3 25 | 4.73× | 0.99× | ||
| Q2 25 | -0.34× | 2.48× | ||
| Q1 25 | 3.58× | 4.47× | ||
| Q4 24 | 9.44× | 171.33× | ||
| Q3 24 | — | 3.64× | ||
| Q2 24 | 2.65× | 1.12× | ||
| Q1 24 | 2.27× | 0.93× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
JBI
| Self Storage New Construction | $72.3M | 33% |
| Commercial And Others | $65.5M | 30% |
| Self Storage R3 | $54.0M | 25% |
| Transferred At Point In Time | $15.5M | 7% |
| Transferred Over Time | $12.8M | 6% |
