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Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and OPKO HEALTH, INC. (OPK). Click either name above to swap in a different company.
IPG PHOTONICS CORP is the larger business by last-quarter revenue ($274.5M vs $148.5M, roughly 1.8× OPKO HEALTH, INC.). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs -21.1%, a 25.9% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -19.2%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $-28.6M). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -7.5%).
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.
OPKO Health, Inc. is a medical test and medication company focused on diagnostics and pharmaceuticals. The company is a publicly traded company on NASDAQ and TASE under the symbol "OPK".
IPGP vs OPK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $148.5M |
| Net Profit | $13.3M | $-31.3M |
| Gross Margin | 36.1% | 43.1% |
| Operating Margin | 1.2% | -25.8% |
| Net Margin | 4.8% | -21.1% |
| Revenue YoY | 17.1% | -19.2% |
| Net Profit YoY | 69.8% | -322.8% |
| EPS (diluted) | $0.30 | $-0.04 |
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 | $148.5M | ||
| Q3 25 | $250.8M | $151.7M | ||
| Q2 25 | $250.7M | $156.8M | ||
| Q1 25 | $227.8M | $150.0M | ||
| Q4 24 | $234.3M | $183.6M | ||
| Q3 24 | $233.1M | $173.6M | ||
| Q2 24 | $257.6M | $182.2M | ||
| Q1 24 | $252.0M | $173.7M |
| Q4 25 | $13.3M | $-31.3M | ||
| Q3 25 | $7.5M | $21.6M | ||
| Q2 25 | $6.6M | $-148.4M | ||
| Q1 25 | $3.8M | $-67.6M | ||
| Q4 24 | $7.8M | $14.0M | ||
| Q3 24 | $-233.6M | $24.9M | ||
| Q2 24 | $20.2M | $-10.3M | ||
| Q1 24 | $24.1M | $-81.8M |
| Q4 25 | 36.1% | 43.1% | ||
| Q3 25 | 39.5% | 32.9% | ||
| Q2 25 | 37.3% | 31.5% | ||
| Q1 25 | 39.4% | 28.4% | ||
| Q4 24 | 38.6% | 46.1% | ||
| Q3 24 | 23.2% | 23.1% | ||
| Q2 24 | 37.3% | 28.4% | ||
| Q1 24 | 38.7% | 24.2% |
| Q4 25 | 1.2% | -25.8% | ||
| Q3 25 | 3.1% | 31.7% | ||
| Q2 25 | 0.0% | -38.3% | ||
| Q1 25 | 0.8% | -44.8% | ||
| Q4 24 | 6.0% | -18.0% | ||
| Q3 24 | -108.7% | 8.2% | ||
| Q2 24 | 4.7% | -33.9% | ||
| Q1 24 | 7.6% | -41.2% |
| Q4 25 | 4.8% | -21.1% | ||
| Q3 25 | 3.0% | 14.3% | ||
| Q2 25 | 2.6% | -94.7% | ||
| Q1 25 | 1.6% | -45.1% | ||
| Q4 24 | 3.3% | 7.6% | ||
| Q3 24 | -100.2% | 14.3% | ||
| Q2 24 | 7.8% | -5.7% | ||
| Q1 24 | 9.6% | -47.1% |
| Q4 25 | $0.30 | $-0.04 | ||
| Q3 25 | $0.18 | $0.03 | ||
| Q2 25 | $0.16 | $-0.19 | ||
| Q1 25 | $0.09 | $-0.10 | ||
| Q4 24 | $0.27 | $0.02 | ||
| Q3 24 | $-5.33 | $0.03 | ||
| Q2 24 | $0.45 | $-0.01 | ||
| Q1 24 | $0.52 | $-0.12 |
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 | $364.4M |
| Total DebtLower is stronger | — | $344.0M |
| Stockholders' EquityBook value | $2.1B | $1.3B |
| Total Assets | $2.4B | $1.9B |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $839.3M | $364.4M | ||
| Q3 25 | $870.4M | $412.0M | ||
| Q2 25 | $899.6M | $267.3M | ||
| Q1 25 | $926.9M | $428.8M | ||
| Q4 24 | $930.2M | $426.6M | ||
| Q3 24 | $1.0B | $400.1M | ||
| Q2 24 | $1.1B | $40.6M | ||
| Q1 24 | $1.1B | $75.6M |
| Q4 25 | — | $344.0M | ||
| Q3 25 | — | $344.2M | ||
| Q2 25 | — | $343.3M | ||
| Q1 25 | — | $439.2M | ||
| Q4 24 | — | $437.2M | ||
| Q3 24 | — | $441.0M | ||
| Q2 24 | — | $201.9M | ||
| Q1 24 | — | $350.1M |
| Q4 25 | $2.1B | $1.3B | ||
| Q3 25 | $2.1B | $1.3B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $2.0B | $1.4B | ||
| Q3 24 | $2.1B | $1.4B | ||
| Q2 24 | $2.3B | $1.4B | ||
| Q1 24 | $2.3B | $1.3B |
| Q4 25 | $2.4B | $1.9B | ||
| Q3 25 | $2.4B | $2.0B | ||
| Q2 25 | $2.4B | $2.0B | ||
| Q1 25 | $2.3B | $2.1B | ||
| Q4 24 | $2.3B | $2.2B | ||
| Q3 24 | $2.4B | $2.3B | ||
| Q2 24 | $2.5B | $2.0B | ||
| Q1 24 | $2.6B | $2.0B |
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.28× |
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 | $-25.9M |
| Free Cash FlowOCF − Capex | $10.9M | $-28.6M |
| FCF MarginFCF / Revenue | 4.0% | -19.3% |
| Capex IntensityCapex / Revenue | 6.5% | 1.8% |
| Cash ConversionOCF / Net Profit | 2.17× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-3.5M | $-190.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.8M | $-25.9M | ||
| Q3 25 | $35.3M | $-34.6M | ||
| Q2 25 | $-2.2M | $-83.4M | ||
| Q1 25 | $13.4M | $-34.6M | ||
| Q4 24 | $73.8M | $-44.4M | ||
| Q3 24 | $66.1M | $-77.1M | ||
| Q2 24 | $53.5M | $-26.4M | ||
| Q1 24 | $54.6M | $-35.6M |
| Q4 25 | $10.9M | $-28.6M | ||
| Q3 25 | $14.6M | $-37.8M | ||
| Q2 25 | $-17.6M | $-86.7M | ||
| Q1 25 | $-11.4M | $-37.7M | ||
| Q4 24 | $50.6M | $-49.8M | ||
| Q3 24 | $43.0M | $-85.0M | ||
| Q2 24 | $29.2M | $-33.7M | ||
| Q1 24 | $26.5M | $-40.0M |
| Q4 25 | 4.0% | -19.3% | ||
| Q3 25 | 5.8% | -24.9% | ||
| Q2 25 | -7.0% | -55.3% | ||
| Q1 25 | -5.0% | -25.2% | ||
| Q4 24 | 21.6% | -27.1% | ||
| Q3 24 | 18.4% | -49.0% | ||
| Q2 24 | 11.3% | -18.5% | ||
| Q1 24 | 10.5% | -23.0% |
| Q4 25 | 6.5% | 1.8% | ||
| Q3 25 | 8.3% | 2.1% | ||
| Q2 25 | 6.1% | 2.1% | ||
| Q1 25 | 10.9% | 2.1% | ||
| Q4 24 | 9.9% | 2.9% | ||
| Q3 24 | 9.9% | 4.6% | ||
| Q2 24 | 9.4% | 4.0% | ||
| Q1 24 | 11.1% | 2.6% |
| Q4 25 | 2.17× | — | ||
| Q3 25 | 4.73× | -1.60× | ||
| Q2 25 | -0.34× | — | ||
| Q1 25 | 3.58× | — | ||
| Q4 24 | 9.44× | -3.17× | ||
| Q3 24 | — | -3.10× | ||
| 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% |
OPK
| Services | $71.1M | 48% |
| Transfer Of Intellectual Property And Other | $33.7M | 23% |
| IE | $22.1M | 15% |
| Rayaldee | $8.8M | 6% |
| Barda Agreement | $6.8M | 5% |
| MX | $6.3M | 4% |
