vs
Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and Nutex Health, Inc. (NUTX). Click either name above to swap in a different company.
IPG PHOTONICS CORP is the larger business by last-quarter revenue ($274.5M vs $151.7M, roughly 1.8× Nutex Health, Inc.). Nutex Health, Inc. runs the higher net margin — 7.8% vs 4.8%, a 3.0% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -41.1%). Nutex Health, Inc. produced more free cash flow last quarter ($69.0M vs $10.9M). Over the past eight quarters, Nutex Health, Inc.'s revenue compounded faster (50.0% CAGR vs 4.4%).
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.
Nutex Health Inc. is an American for-profit health care company and operator of healthcare facilities headquartered in Houston, Texas.
IPGP vs NUTX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $151.7M |
| Net Profit | $13.3M | $11.8M |
| Gross Margin | 36.1% | 30.4% |
| Operating Margin | 1.2% | 20.4% |
| Net Margin | 4.8% | 7.8% |
| Revenue YoY | 17.1% | -41.1% |
| Net Profit YoY | 69.8% | -80.8% |
| EPS (diluted) | $0.30 | $2.34 |
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 | $151.7M | ||
| Q3 25 | $250.8M | $267.8M | ||
| Q2 25 | $250.7M | $244.0M | ||
| Q1 25 | $227.8M | $211.8M | ||
| Q4 24 | $234.3M | $257.6M | ||
| Q3 24 | $233.1M | $78.8M | ||
| Q2 24 | $257.6M | $76.1M | ||
| Q1 24 | $252.0M | $67.5M |
| Q4 25 | $13.3M | $11.8M | ||
| Q3 25 | $7.5M | $55.4M | ||
| Q2 25 | $6.6M | $-17.7M | ||
| Q1 25 | $3.8M | $21.2M | ||
| Q4 24 | $7.8M | $61.6M | ||
| Q3 24 | $-233.6M | $-8.8M | ||
| Q2 24 | $20.2M | $-364.0K | ||
| Q1 24 | $24.1M | $-364.0K |
| Q4 25 | 36.1% | 30.4% | ||
| Q3 25 | 39.5% | 57.8% | ||
| Q2 25 | 37.3% | 51.2% | ||
| Q1 25 | 39.4% | 55.9% | ||
| Q4 24 | 38.6% | 55.0% | ||
| Q3 24 | 23.2% | 27.8% | ||
| Q2 24 | 37.3% | 29.7% | ||
| Q1 24 | 38.7% | 15.1% |
| Q4 25 | 1.2% | 20.4% | ||
| Q3 25 | 3.1% | 48.7% | ||
| Q2 25 | 0.0% | 13.8% | ||
| Q1 25 | 0.8% | 38.1% | ||
| Q4 24 | 6.0% | 44.4% | ||
| Q3 24 | -108.7% | 12.3% | ||
| Q2 24 | 4.7% | 7.0% | ||
| Q1 24 | 7.6% | 2.1% |
| Q4 25 | 4.8% | 7.8% | ||
| Q3 25 | 3.0% | 20.7% | ||
| Q2 25 | 2.6% | -7.3% | ||
| Q1 25 | 1.6% | 10.0% | ||
| Q4 24 | 3.3% | 23.9% | ||
| Q3 24 | -100.2% | -11.2% | ||
| Q2 24 | 7.8% | -0.5% | ||
| Q1 24 | 9.6% | -0.5% |
| Q4 25 | $0.30 | $2.34 | ||
| Q3 25 | $0.18 | $7.76 | ||
| Q2 25 | $0.16 | $-2.95 | ||
| Q1 25 | $0.09 | $3.33 | ||
| Q4 24 | $0.27 | $11.56 | ||
| Q3 24 | $-5.33 | $-1.72 | ||
| Q2 24 | $0.45 | $-0.07 | ||
| Q1 24 | $0.52 | $-0.08 |
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 | $185.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $329.4M |
| Total Assets | $2.4B | $918.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $839.3M | $185.6M | ||
| Q3 25 | $870.4M | $166.0M | ||
| Q2 25 | $899.6M | $96.7M | ||
| Q1 25 | $926.9M | $84.7M | ||
| Q4 24 | $930.2M | $40.6M | ||
| Q3 24 | $1.0B | $46.9M | ||
| Q2 24 | $1.1B | $40.8M | ||
| Q1 24 | $1.1B | $30.0M |
| Q4 25 | $2.1B | $329.4M | ||
| Q3 25 | $2.1B | $317.2M | ||
| Q2 25 | $2.1B | $235.3M | ||
| Q1 25 | $2.1B | $176.9M | ||
| Q4 24 | $2.0B | $132.4M | ||
| Q3 24 | $2.1B | $60.4M | ||
| Q2 24 | $2.3B | $62.7M | ||
| Q1 24 | $2.3B | $63.0M |
| Q4 25 | $2.4B | $918.5M | ||
| Q3 25 | $2.4B | $964.5M | ||
| Q2 25 | $2.4B | $841.0M | ||
| Q1 25 | $2.3B | $761.9M | ||
| Q4 24 | $2.3B | $655.3M | ||
| Q3 24 | $2.4B | $438.5M | ||
| Q2 24 | $2.5B | $422.4M | ||
| Q1 24 | $2.6B | $404.3M |
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 | $70.4M |
| Free Cash FlowOCF − Capex | $10.9M | $69.0M |
| FCF MarginFCF / Revenue | 4.0% | 45.5% |
| Capex IntensityCapex / Revenue | 6.5% | 0.9% |
| Cash ConversionOCF / Net Profit | 2.17× | 5.95× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.5M | $245.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.8M | $70.4M | ||
| Q3 25 | $35.3M | $99.5M | ||
| Q2 25 | $-2.2M | $27.3M | ||
| Q1 25 | $13.4M | $51.0M | ||
| Q4 24 | $73.8M | $54.0K | ||
| Q3 24 | $66.1M | $6.8M | ||
| Q2 24 | $53.5M | $13.3M | ||
| Q1 24 | $54.6M | $3.1M |
| Q4 25 | $10.9M | $69.0M | ||
| Q3 25 | $14.6M | $99.2M | ||
| Q2 25 | $-17.6M | $26.5M | ||
| Q1 25 | $-11.4M | $50.9M | ||
| Q4 24 | $50.6M | $-341.0K | ||
| Q3 24 | $43.0M | $6.2M | ||
| Q2 24 | $29.2M | $12.7M | ||
| Q1 24 | $26.5M | $2.3M |
| Q4 25 | 4.0% | 45.5% | ||
| Q3 25 | 5.8% | 37.0% | ||
| Q2 25 | -7.0% | 10.9% | ||
| Q1 25 | -5.0% | 24.0% | ||
| Q4 24 | 21.6% | -0.1% | ||
| Q3 24 | 18.4% | 7.8% | ||
| Q2 24 | 11.3% | 16.7% | ||
| Q1 24 | 10.5% | 3.4% |
| Q4 25 | 6.5% | 0.9% | ||
| Q3 25 | 8.3% | 0.1% | ||
| Q2 25 | 6.1% | 0.3% | ||
| Q1 25 | 10.9% | 0.0% | ||
| Q4 24 | 9.9% | 0.2% | ||
| Q3 24 | 9.9% | 0.8% | ||
| Q2 24 | 9.4% | 0.7% | ||
| Q1 24 | 11.1% | 1.1% |
| Q4 25 | 2.17× | 5.95× | ||
| Q3 25 | 4.73× | 1.80× | ||
| Q2 25 | -0.34× | — | ||
| Q1 25 | 3.58× | 2.40× | ||
| Q4 24 | 9.44× | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.65× | — | ||
| Q1 24 | 2.27× | — |
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% |
NUTX
| Hospital Division | $143.7M | 95% |
| Population Health Management Division | $8.0M | 5% |
