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Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and Northwest Bancshares, Inc. (NWBI). Click either name above to swap in a different company.
IPG PHOTONICS CORP is the larger business by last-quarter revenue ($274.5M vs $175.1M, roughly 1.6× Northwest Bancshares, Inc.). Northwest Bancshares, Inc. runs the higher net margin — 28.9% vs 4.8%, a 24.0% gap on every dollar of revenue. Over the past eight quarters, Northwest Bancshares, Inc.'s revenue compounded faster (33.7% 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.
Northwest Bank is a bank headquartered in Warren, Pennsylvania. It is the leading subsidiary of Northwest Bancshares, Inc., a bank holding company, and operates 151 branches in Pennsylvania, Western New York, Northeast Ohio, Appalachian Ohio, and Indiana.
IPGP vs NWBI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $175.1M |
| Net Profit | $13.3M | $50.5M |
| Gross Margin | 36.1% | — |
| Operating Margin | 1.2% | — |
| Net Margin | 4.8% | 28.9% |
| Revenue YoY | 17.1% | — |
| Net Profit YoY | 69.8% | — |
| EPS (diluted) | $0.30 | $0.34 |
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.
| Q1 26 | — | $175.1M | ||
| Q4 25 | $274.5M | $179.9M | ||
| Q3 25 | $250.8M | $168.2M | ||
| Q2 25 | $250.7M | $150.4M | ||
| Q1 25 | $227.8M | $156.2M | ||
| Q4 24 | $234.3M | $154.3M | ||
| Q3 24 | $233.1M | $139.1M | ||
| Q2 24 | $257.6M | $98.0M |
| Q1 26 | — | $50.5M | ||
| Q4 25 | $13.3M | — | ||
| Q3 25 | $7.5M | $3.2M | ||
| Q2 25 | $6.6M | $33.7M | ||
| Q1 25 | $3.8M | $43.5M | ||
| Q4 24 | $7.8M | — | ||
| Q3 24 | $-233.6M | $33.6M | ||
| Q2 24 | $20.2M | $4.7M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 1.2% | 32.6% | ||
| Q3 25 | 3.1% | 2.1% | ||
| Q2 25 | 0.0% | 29.3% | ||
| Q1 25 | 0.8% | 36.2% | ||
| Q4 24 | 6.0% | 27.5% | ||
| Q3 24 | -108.7% | 31.3% | ||
| Q2 24 | 4.7% | 6.1% |
| Q1 26 | — | 28.9% | ||
| Q4 25 | 4.8% | — | ||
| Q3 25 | 3.0% | 1.9% | ||
| Q2 25 | 2.6% | 22.4% | ||
| Q1 25 | 1.6% | 27.8% | ||
| Q4 24 | 3.3% | — | ||
| Q3 24 | -100.2% | 24.2% | ||
| Q2 24 | 7.8% | 4.8% |
| Q1 26 | — | $0.34 | ||
| Q4 25 | $0.30 | $0.30 | ||
| Q3 25 | $0.18 | $0.02 | ||
| Q2 25 | $0.16 | $0.26 | ||
| Q1 25 | $0.09 | $0.34 | ||
| Q4 24 | $0.27 | $0.26 | ||
| Q3 24 | $-5.33 | $0.26 | ||
| Q2 24 | $0.45 | $0.04 |
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 | $286.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $1.9B |
| Total Assets | $2.4B | $16.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $286.7M | ||
| 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 26 | — | $1.9B | ||
| Q4 25 | $2.1B | $1.9B | ||
| Q3 25 | $2.1B | $1.9B | ||
| Q2 25 | $2.1B | $1.6B | ||
| Q1 25 | $2.1B | $1.6B | ||
| Q4 24 | $2.0B | $1.6B | ||
| Q3 24 | $2.1B | $1.6B | ||
| Q2 24 | $2.3B | $1.6B |
| Q1 26 | — | $16.9B | ||
| Q4 25 | $2.4B | $16.8B | ||
| Q3 25 | $2.4B | $16.4B | ||
| Q2 25 | $2.4B | $14.5B | ||
| Q1 25 | $2.3B | $14.5B | ||
| Q4 24 | $2.3B | $14.4B | ||
| Q3 24 | $2.4B | $14.4B | ||
| Q2 24 | $2.5B | $14.4B |
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 | — |
| Free Cash FlowOCF − Capex | $10.9M | — |
| FCF MarginFCF / Revenue | 4.0% | — |
| Capex IntensityCapex / Revenue | 6.5% | — |
| Cash ConversionOCF / Net Profit | 2.17× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-3.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $28.8M | $153.4M | ||
| Q3 25 | $35.3M | $41.9M | ||
| Q2 25 | $-2.2M | $-2.3M | ||
| Q1 25 | $13.4M | $107.6M | ||
| Q4 24 | $73.8M | $127.7M | ||
| Q3 24 | $66.1M | $93.3M | ||
| Q2 24 | $53.5M | $40.7M |
| Q1 26 | — | — | ||
| Q4 25 | $10.9M | $141.8M | ||
| Q3 25 | $14.6M | $38.3M | ||
| Q2 25 | $-17.6M | $-6.0M | ||
| Q1 25 | $-11.4M | $105.8M | ||
| Q4 24 | $50.6M | $125.4M | ||
| Q3 24 | $43.0M | $93.2M | ||
| Q2 24 | $29.2M | $37.2M |
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 78.8% | ||
| Q3 25 | 5.8% | 22.8% | ||
| Q2 25 | -7.0% | -4.0% | ||
| Q1 25 | -5.0% | 67.7% | ||
| Q4 24 | 21.6% | 81.3% | ||
| Q3 24 | 18.4% | 67.0% | ||
| Q2 24 | 11.3% | 37.9% |
| Q1 26 | — | — | ||
| Q4 25 | 6.5% | 6.5% | ||
| Q3 25 | 8.3% | 2.2% | ||
| Q2 25 | 6.1% | 2.4% | ||
| Q1 25 | 10.9% | 1.2% | ||
| Q4 24 | 9.9% | 1.5% | ||
| Q3 24 | 9.9% | 0.1% | ||
| Q2 24 | 9.4% | 3.6% |
| Q1 26 | — | — | ||
| Q4 25 | 2.17× | — | ||
| Q3 25 | 4.73× | 13.24× | ||
| Q2 25 | -0.34× | -0.07× | ||
| Q1 25 | 3.58× | 2.48× | ||
| Q4 24 | 9.44× | — | ||
| Q3 24 | — | 2.77× | ||
| Q2 24 | 2.65× | 8.56× |
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% |
NWBI
| Net Interest Income | $142.5M | 81% |
| Noninterest Income | $32.6M | 19% |
