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Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and KILROY REALTY CORP (KRC). Click either name above to swap in a different company.
IPG PHOTONICS CORP is the larger business by last-quarter revenue ($274.5M vs $272.2M, roughly 1.0× KILROY REALTY CORP). KILROY REALTY CORP runs the higher net margin — 6.3% vs 4.8%, a 1.5% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -5.0%). KILROY REALTY CORP produced more free cash flow last quarter ($450.3M vs $10.9M). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -1.2%).
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.
Kilroy Realty Corp is a leading U.S. real estate investment trust that develops, owns, and operates premium office, life science, and mixed-use properties primarily across high-growth West Coast markets including Los Angeles, San Francisco, Seattle, and San Diego. It serves tenants across the technology, life sciences, media, and creative sectors, with a core focus on delivering sustainable, future-ready workspaces tailored to modern business needs.
IPGP vs KRC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $272.2M |
| Net Profit | $13.3M | $17.1M |
| Gross Margin | 36.1% | — |
| Operating Margin | 1.2% | — |
| Net Margin | 4.8% | 6.3% |
| Revenue YoY | 17.1% | -5.0% |
| Net Profit YoY | 69.8% | -73.7% |
| 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 | $272.2M | ||
| Q3 25 | $250.8M | $279.7M | ||
| Q2 25 | $250.7M | $289.9M | ||
| Q1 25 | $227.8M | $270.8M | ||
| Q4 24 | $234.3M | $286.4M | ||
| Q3 24 | $233.1M | $289.9M | ||
| Q2 24 | $257.6M | $280.7M | ||
| Q1 24 | $252.0M | $278.6M |
| Q4 25 | $13.3M | $17.1M | ||
| Q3 25 | $7.5M | $162.3M | ||
| Q2 25 | $6.6M | $79.6M | ||
| Q1 25 | $3.8M | $43.7M | ||
| Q4 24 | $7.8M | $65.0M | ||
| Q3 24 | $-233.6M | $57.7M | ||
| Q2 24 | $20.2M | $54.5M | ||
| Q1 24 | $24.1M | $55.7M |
| 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 | 1.2% | — | ||
| Q3 25 | 3.1% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.8% | — | ||
| Q4 24 | 6.0% | — | ||
| Q3 24 | -108.7% | — | ||
| Q2 24 | 4.7% | — | ||
| Q1 24 | 7.6% | — |
| Q4 25 | 4.8% | 6.3% | ||
| Q3 25 | 3.0% | 58.0% | ||
| Q2 25 | 2.6% | 27.4% | ||
| Q1 25 | 1.6% | 16.1% | ||
| Q4 24 | 3.3% | 22.7% | ||
| Q3 24 | -100.2% | 19.9% | ||
| Q2 24 | 7.8% | 19.4% | ||
| Q1 24 | 9.6% | 20.0% |
| Q4 25 | $0.30 | $0.11 | ||
| Q3 25 | $0.18 | $1.31 | ||
| Q2 25 | $0.16 | $0.57 | ||
| Q1 25 | $0.09 | $0.33 | ||
| Q4 24 | $0.27 | $0.50 | ||
| Q3 24 | $-5.33 | $0.44 | ||
| Q2 24 | $0.45 | $0.41 | ||
| Q1 24 | $0.52 | $0.42 |
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 | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $5.4B |
| Total Assets | $2.4B | $10.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $839.3M | $179.3M | ||
| Q3 25 | $870.4M | $372.4M | ||
| Q2 25 | $899.6M | $193.1M | ||
| Q1 25 | $926.9M | $146.7M | ||
| Q4 24 | $930.2M | $165.7M | ||
| Q3 24 | $1.0B | $625.4M | ||
| Q2 24 | $1.1B | $835.9M | ||
| Q1 24 | $1.1B | $855.0M |
| Q4 25 | $2.1B | $5.4B | ||
| Q3 25 | $2.1B | $5.5B | ||
| Q2 25 | $2.1B | $5.4B | ||
| Q1 25 | $2.1B | $5.4B | ||
| Q4 24 | $2.0B | $5.4B | ||
| Q3 24 | $2.1B | $5.4B | ||
| Q2 24 | $2.3B | $5.4B | ||
| Q1 24 | $2.3B | $5.4B |
| Q4 25 | $2.4B | $10.9B | ||
| Q3 25 | $2.4B | $11.0B | ||
| Q2 25 | $2.4B | $10.9B | ||
| Q1 25 | $2.3B | $10.9B | ||
| Q4 24 | $2.3B | $10.9B | ||
| Q3 24 | $2.4B | $11.4B | ||
| Q2 24 | $2.5B | $11.5B | ||
| Q1 24 | $2.6B | $11.6B |
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 | $566.3M |
| Free Cash FlowOCF − Capex | $10.9M | $450.3M |
| FCF MarginFCF / Revenue | 4.0% | 165.4% |
| Capex IntensityCapex / Revenue | 6.5% | 42.6% |
| Cash ConversionOCF / Net Profit | 2.17× | 33.10× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.5M | $833.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.8M | $566.3M | ||
| Q3 25 | $35.3M | $176.6M | ||
| Q2 25 | $-2.2M | $143.7M | ||
| Q1 25 | $13.4M | $136.9M | ||
| Q4 24 | $73.8M | $541.1M | ||
| Q3 24 | $66.1M | $176.3M | ||
| Q2 24 | $53.5M | $88.7M | ||
| Q1 24 | $54.6M | $167.9M |
| Q4 25 | $10.9M | $450.3M | ||
| Q3 25 | $14.6M | $148.7M | ||
| Q2 25 | $-17.6M | $118.4M | ||
| Q1 25 | $-11.4M | $115.6M | ||
| Q4 24 | $50.6M | $440.8M | ||
| Q3 24 | $43.0M | $147.2M | ||
| Q2 24 | $29.2M | $69.5M | ||
| Q1 24 | $26.5M | $151.9M |
| Q4 25 | 4.0% | 165.4% | ||
| Q3 25 | 5.8% | 53.1% | ||
| Q2 25 | -7.0% | 40.9% | ||
| Q1 25 | -5.0% | 42.7% | ||
| Q4 24 | 21.6% | 153.9% | ||
| Q3 24 | 18.4% | 50.8% | ||
| Q2 24 | 11.3% | 24.7% | ||
| Q1 24 | 10.5% | 54.5% |
| Q4 25 | 6.5% | 42.6% | ||
| Q3 25 | 8.3% | 10.0% | ||
| Q2 25 | 6.1% | 8.7% | ||
| Q1 25 | 10.9% | 7.9% | ||
| Q4 24 | 9.9% | 35.0% | ||
| Q3 24 | 9.9% | 10.1% | ||
| Q2 24 | 9.4% | 6.8% | ||
| Q1 24 | 11.1% | 5.7% |
| Q4 25 | 2.17× | 33.10× | ||
| Q3 25 | 4.73× | 1.09× | ||
| Q2 25 | -0.34× | 1.81× | ||
| Q1 25 | 3.58× | 3.13× | ||
| Q4 24 | 9.44× | 8.32× | ||
| Q3 24 | — | 3.06× | ||
| Q2 24 | 2.65× | 1.63× | ||
| Q1 24 | 2.27× | 3.01× |
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% |
KRC
Segment breakdown not available.
