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Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and Pediatrix Medical Group, Inc. (MD). Click either name above to swap in a different company.
Pediatrix Medical Group, Inc. is the larger business by last-quarter revenue ($493.8M vs $274.5M, roughly 1.8× IPG PHOTONICS CORP). Pediatrix Medical Group, Inc. runs the higher net margin — 6.8% 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 -1.7%). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -0.1%).
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.
Pediatrix Medical Group, Inc. is a leading U.S. specialized medical service provider focusing on maternal-fetal care, neonatology, pediatric cardiology and other pediatric subspecialties. It partners with U.S. healthcare facilities to deliver evidence-based care to women, newborns and children.
IPGP vs MD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $493.8M |
| Net Profit | $13.3M | $33.7M |
| Gross Margin | 36.1% | — |
| Operating Margin | 1.2% | 9.9% |
| Net Margin | 4.8% | 6.8% |
| Revenue YoY | 17.1% | -1.7% |
| Net Profit YoY | 69.8% | 10.5% |
| EPS (diluted) | $0.30 | $0.40 |
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 | $493.8M | ||
| Q3 25 | $250.8M | $492.9M | ||
| Q2 25 | $250.7M | $468.8M | ||
| Q1 25 | $227.8M | $458.4M | ||
| Q4 24 | $234.3M | $502.4M | ||
| Q3 24 | $233.1M | $511.2M | ||
| Q2 24 | $257.6M | $504.3M | ||
| Q1 24 | $252.0M | $495.1M |
| Q4 25 | $13.3M | $33.7M | ||
| Q3 25 | $7.5M | $71.7M | ||
| Q2 25 | $6.6M | $39.3M | ||
| Q1 25 | $3.8M | $20.7M | ||
| Q4 24 | $7.8M | $30.5M | ||
| Q3 24 | $-233.6M | $19.4M | ||
| Q2 24 | $20.2M | $-153.0M | ||
| Q1 24 | $24.1M | $4.0M |
| 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% | 9.9% | ||
| Q3 25 | 3.1% | 13.8% | ||
| Q2 25 | 0.0% | 12.8% | ||
| Q1 25 | 0.8% | 7.0% | ||
| Q4 24 | 6.0% | 7.8% | ||
| Q3 24 | -108.7% | 6.6% | ||
| Q2 24 | 4.7% | -31.3% | ||
| Q1 24 | 7.6% | 3.2% |
| Q4 25 | 4.8% | 6.8% | ||
| Q3 25 | 3.0% | 14.5% | ||
| Q2 25 | 2.6% | 8.4% | ||
| Q1 25 | 1.6% | 4.5% | ||
| Q4 24 | 3.3% | 6.1% | ||
| Q3 24 | -100.2% | 3.8% | ||
| Q2 24 | 7.8% | -30.3% | ||
| Q1 24 | 9.6% | 0.8% |
| Q4 25 | $0.30 | $0.40 | ||
| Q3 25 | $0.18 | $0.84 | ||
| Q2 25 | $0.16 | $0.46 | ||
| Q1 25 | $0.09 | $0.24 | ||
| Q4 24 | $0.27 | $0.37 | ||
| Q3 24 | $-5.33 | $0.23 | ||
| Q2 24 | $0.45 | $-1.84 | ||
| Q1 24 | $0.52 | $0.05 |
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 | $375.2M |
| Total DebtLower is stronger | — | $570.5M |
| Stockholders' EquityBook value | $2.1B | $865.9M |
| Total Assets | $2.4B | $2.2B |
| Debt / EquityLower = less leverage | — | 0.66× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $839.3M | $375.2M | ||
| Q3 25 | $870.4M | $340.1M | ||
| Q2 25 | $899.6M | $224.7M | ||
| Q1 25 | $926.9M | $99.0M | ||
| Q4 24 | $930.2M | $229.9M | ||
| Q3 24 | $1.0B | $103.8M | ||
| Q2 24 | $1.1B | $19.4M | ||
| Q1 24 | $1.1B | $8.0M |
| Q4 25 | — | $570.5M | ||
| Q3 25 | — | $577.2M | ||
| Q2 25 | — | $583.9M | ||
| Q1 25 | — | $590.5M | ||
| Q4 24 | — | $597.1M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.1B | $865.9M | ||
| Q3 25 | $2.1B | $890.7M | ||
| Q2 25 | $2.1B | $833.8M | ||
| Q1 25 | $2.1B | $789.2M | ||
| Q4 24 | $2.0B | $764.9M | ||
| Q3 24 | $2.1B | $732.5M | ||
| Q2 24 | $2.3B | $706.5M | ||
| Q1 24 | $2.3B | $856.2M |
| Q4 25 | $2.4B | $2.2B | ||
| Q3 25 | $2.4B | $2.2B | ||
| Q2 25 | $2.4B | $2.1B | ||
| Q1 25 | $2.3B | $2.0B | ||
| Q4 24 | $2.3B | $2.2B | ||
| Q3 24 | $2.4B | $2.1B | ||
| Q2 24 | $2.5B | $2.0B | ||
| Q1 24 | $2.6B | $2.2B |
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 0.78× | ||
| 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 | $28.8M | $114.1M |
| Free Cash FlowOCF − Capex | $10.9M | — |
| FCF MarginFCF / Revenue | 4.0% | — |
| Capex IntensityCapex / Revenue | 6.5% | — |
| Cash ConversionOCF / Net Profit | 2.17× | 3.39× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.8M | $114.1M | ||
| Q3 25 | $35.3M | $137.3M | ||
| Q2 25 | $-2.2M | $137.2M | ||
| Q1 25 | $13.4M | $-117.5M | ||
| Q4 24 | $73.8M | $133.0M | ||
| Q3 24 | $66.1M | $91.8M | ||
| Q2 24 | $53.5M | $107.0M | ||
| Q1 24 | $54.6M | $-125.2M |
| Q4 25 | $10.9M | — | ||
| Q3 25 | $14.6M | — | ||
| Q2 25 | $-17.6M | — | ||
| Q1 25 | $-11.4M | — | ||
| Q4 24 | $50.6M | — | ||
| Q3 24 | $43.0M | — | ||
| Q2 24 | $29.2M | — | ||
| Q1 24 | $26.5M | — |
| Q4 25 | 4.0% | — | ||
| Q3 25 | 5.8% | — | ||
| Q2 25 | -7.0% | — | ||
| Q1 25 | -5.0% | — | ||
| Q4 24 | 21.6% | — | ||
| Q3 24 | 18.4% | — | ||
| Q2 24 | 11.3% | — | ||
| Q1 24 | 10.5% | — |
| Q4 25 | 6.5% | — | ||
| Q3 25 | 8.3% | — | ||
| Q2 25 | 6.1% | — | ||
| Q1 25 | 10.9% | — | ||
| Q4 24 | 9.9% | — | ||
| Q3 24 | 9.9% | — | ||
| Q2 24 | 9.4% | — | ||
| Q1 24 | 11.1% | — |
| Q4 25 | 2.17× | 3.39× | ||
| Q3 25 | 4.73× | 1.91× | ||
| Q2 25 | -0.34× | 3.49× | ||
| Q1 25 | 3.58× | -5.66× | ||
| Q4 24 | 9.44× | 4.36× | ||
| Q3 24 | — | 4.72× | ||
| Q2 24 | 2.65× | — | ||
| Q1 24 | 2.27× | -31.03× |
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% |
MD
| Health Care Patient Service | $421.6M | 85% |
| Hospitals Contracts | $70.0M | 14% |
| Other | $2.2M | 0% |
