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Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and Koppers Holdings Inc. (KOP). Click either name above to swap in a different company.
Koppers Holdings Inc. is the larger business by last-quarter revenue ($432.7M vs $274.5M, roughly 1.6× IPG PHOTONICS CORP). Koppers Holdings Inc. runs the higher net margin — 6.9% vs 4.8%, a 2.0% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -9.3%). Koppers Holdings Inc. produced more free cash flow last quarter ($28.5M vs $10.9M). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -6.7%).
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.
Koppers is a global chemical and materials company based in Pittsburgh, Pennsylvania, United States. Its headquarters is an art-deco 1920s skyscraper, the Koppers Tower.
IPGP vs KOP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $432.7M |
| Net Profit | $13.3M | $29.7M |
| Gross Margin | 36.1% | 25.6% |
| Operating Margin | 1.2% | 11.5% |
| Net Margin | 4.8% | 6.9% |
| Revenue YoY | 17.1% | -9.3% |
| Net Profit YoY | 69.8% | 391.2% |
| EPS (diluted) | $0.30 | $1.44 |
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 | $432.7M | ||
| Q3 25 | $250.8M | $485.3M | ||
| Q2 25 | $250.7M | $504.8M | ||
| Q1 25 | $227.8M | $456.5M | ||
| Q4 24 | $234.3M | $477.0M | ||
| Q3 24 | $233.1M | $554.3M | ||
| Q2 24 | $257.6M | $563.2M | ||
| Q1 24 | $252.0M | $497.6M |
| Q4 25 | $13.3M | $29.7M | ||
| Q3 25 | $7.5M | $23.8M | ||
| Q2 25 | $6.6M | $16.4M | ||
| Q1 25 | $3.8M | $-13.9M | ||
| Q4 24 | $7.8M | $-10.2M | ||
| Q3 24 | $-233.6M | $22.8M | ||
| Q2 24 | $20.2M | $26.8M | ||
| Q1 24 | $24.1M | $13.0M |
| Q4 25 | 36.1% | 25.6% | ||
| Q3 25 | 39.5% | 24.1% | ||
| Q2 25 | 37.3% | 22.6% | ||
| Q1 25 | 39.4% | 23.2% | ||
| Q4 24 | 38.6% | 17.5% | ||
| Q3 24 | 23.2% | 21.9% | ||
| Q2 24 | 37.3% | 21.6% | ||
| Q1 24 | 38.7% | 19.3% |
| Q4 25 | 1.2% | 11.5% | ||
| Q3 25 | 3.1% | 10.7% | ||
| Q2 25 | 0.0% | 7.7% | ||
| Q1 25 | 0.8% | 5.9% | ||
| Q4 24 | 6.0% | 1.3% | ||
| Q3 24 | -108.7% | 9.0% | ||
| Q2 24 | 4.7% | 10.2% | ||
| Q1 24 | 7.6% | 7.0% |
| Q4 25 | 4.8% | 6.9% | ||
| Q3 25 | 3.0% | 4.9% | ||
| Q2 25 | 2.6% | 3.2% | ||
| Q1 25 | 1.6% | -3.0% | ||
| Q4 24 | 3.3% | -2.1% | ||
| Q3 24 | -100.2% | 4.1% | ||
| Q2 24 | 7.8% | 4.8% | ||
| Q1 24 | 9.6% | 2.6% |
| Q4 25 | $0.30 | $1.44 | ||
| Q3 25 | $0.18 | $1.17 | ||
| Q2 25 | $0.16 | $0.81 | ||
| Q1 25 | $0.09 | $-0.68 | ||
| Q4 24 | $0.27 | $-0.47 | ||
| Q3 24 | $-5.33 | $1.09 | ||
| Q2 24 | $0.45 | $1.25 | ||
| Q1 24 | $0.52 | $0.59 |
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 | — | $928.3M |
| Stockholders' EquityBook value | $2.1B | $574.0M |
| Total Assets | $2.4B | $1.9B |
| Debt / EquityLower = less leverage | — | 1.62× |
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 | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | — | $928.3M | ||
| Q3 25 | — | $932.9M | ||
| Q2 25 | — | $977.5M | ||
| Q1 25 | — | $989.0M | ||
| Q4 24 | — | $939.5M | ||
| Q3 24 | — | $989.4M | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $877.6M |
| Q4 25 | $2.1B | $574.0M | ||
| Q3 25 | $2.1B | $545.6M | ||
| Q2 25 | $2.1B | $526.8M | ||
| Q1 25 | $2.1B | $498.0M | ||
| Q4 24 | $2.0B | $488.7M | ||
| Q3 24 | $2.1B | $532.3M | ||
| Q2 24 | $2.3B | $509.2M | ||
| Q1 24 | $2.3B | $505.8M |
| Q4 25 | $2.4B | $1.9B | ||
| Q3 25 | $2.4B | $1.9B | ||
| Q2 25 | $2.4B | $1.9B | ||
| Q1 25 | $2.3B | $1.9B | ||
| Q4 24 | $2.3B | $1.9B | ||
| Q3 24 | $2.4B | $2.0B | ||
| Q2 24 | $2.5B | $1.9B | ||
| Q1 24 | $2.6B | $1.8B |
| Q4 25 | — | 1.62× | ||
| Q3 25 | — | 1.71× | ||
| Q2 25 | — | 1.86× | ||
| Q1 25 | — | 1.99× | ||
| Q4 24 | — | 1.92× | ||
| Q3 24 | — | 1.86× | ||
| Q2 24 | — | 1.97× | ||
| Q1 24 | — | 1.74× |
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 | $45.1M |
| Free Cash FlowOCF − Capex | $10.9M | $28.5M |
| FCF MarginFCF / Revenue | 4.0% | 6.6% |
| Capex IntensityCapex / Revenue | 6.5% | 3.8% |
| Cash ConversionOCF / Net Profit | 2.17× | 1.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.5M | $67.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.8M | $45.1M | ||
| Q3 25 | $35.3M | $49.6M | ||
| Q2 25 | $-2.2M | $50.5M | ||
| Q1 25 | $13.4M | $-22.7M | ||
| Q4 24 | $73.8M | $74.7M | ||
| Q3 24 | $66.1M | $29.8M | ||
| Q2 24 | $53.5M | $27.2M | ||
| Q1 24 | $54.6M | $-12.3M |
| Q4 25 | $10.9M | $28.5M | ||
| Q3 25 | $14.6M | $37.6M | ||
| Q2 25 | $-17.6M | $38.4M | ||
| Q1 25 | $-11.4M | $-37.0M | ||
| Q4 24 | $50.6M | $56.1M | ||
| Q3 24 | $43.0M | $14.4M | ||
| Q2 24 | $29.2M | $10.1M | ||
| Q1 24 | $26.5M | $-38.6M |
| Q4 25 | 4.0% | 6.6% | ||
| Q3 25 | 5.8% | 7.7% | ||
| Q2 25 | -7.0% | 7.6% | ||
| Q1 25 | -5.0% | -8.1% | ||
| Q4 24 | 21.6% | 11.8% | ||
| Q3 24 | 18.4% | 2.6% | ||
| Q2 24 | 11.3% | 1.8% | ||
| Q1 24 | 10.5% | -7.8% |
| Q4 25 | 6.5% | 3.8% | ||
| Q3 25 | 8.3% | 2.5% | ||
| Q2 25 | 6.1% | 2.4% | ||
| Q1 25 | 10.9% | 3.1% | ||
| Q4 24 | 9.9% | 3.9% | ||
| Q3 24 | 9.9% | 2.8% | ||
| Q2 24 | 9.4% | 3.0% | ||
| Q1 24 | 11.1% | 5.3% |
| Q4 25 | 2.17× | 1.52× | ||
| Q3 25 | 4.73× | 2.08× | ||
| Q2 25 | -0.34× | 3.08× | ||
| Q1 25 | 3.58× | — | ||
| Q4 24 | 9.44× | — | ||
| Q3 24 | — | 1.31× | ||
| Q2 24 | 2.65× | 1.01× | ||
| Q1 24 | 2.27× | -0.95× |
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% |
KOP
| Other | $127.8M | 30% |
| Railroad Treated Products | $119.0M | 28% |
| Utility Poles | $79.8M | 18% |
| Pitch And Related Products | $74.1M | 17% |
| Carbon Black Feedstock And Distillates | $14.4M | 3% |
| Railroad Infrastructure Products And Services | $9.9M | 2% |
| Phthalic Anhydride Naphthalene And Other Chemicals | $7.7M | 2% |
