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Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and BRC Group Holdings, Inc. (RILY). Click either name above to swap in a different company.
IPG PHOTONICS CORP is the larger business by last-quarter revenue ($274.5M vs $188.3M, roughly 1.5× BRC Group Holdings, Inc.). BRC Group Holdings, Inc. runs the higher net margin — 47.9% vs 4.8%, a 43.1% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -21.9%). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -15.4%).
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.
IPGP vs RILY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $188.3M |
| Net Profit | $13.3M | $90.3M |
| Gross Margin | 36.1% | 79.5% |
| Operating Margin | 1.2% | 32.3% |
| Net Margin | 4.8% | 47.9% |
| Revenue YoY | 17.1% | -21.9% |
| Net Profit YoY | 69.8% | 1710.8% |
| EPS (diluted) | $0.30 | $2.78 |
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 | $188.3M | ||
| Q3 25 | $250.8M | $215.3M | ||
| Q2 25 | $250.7M | $188.2M | ||
| Q1 25 | $227.8M | $197.2M | ||
| Q4 24 | $234.3M | $241.0M | ||
| Q3 24 | $233.1M | $225.5M | ||
| Q2 24 | $257.6M | $256.0M | ||
| Q1 24 | $252.0M | $263.4M |
| Q4 25 | $13.3M | $90.3M | ||
| Q3 25 | $7.5M | $91.1M | ||
| Q2 25 | $6.6M | $139.5M | ||
| Q1 25 | $3.8M | $-10.0M | ||
| Q4 24 | $7.8M | $-5.6M | ||
| Q3 24 | $-233.6M | $-284.4M | ||
| Q2 24 | $20.2M | $-433.6M | ||
| Q1 24 | $24.1M | $-49.2M |
| Q4 25 | 36.1% | 79.5% | ||
| Q3 25 | 39.5% | 83.7% | ||
| Q2 25 | 37.3% | 81.3% | ||
| Q1 25 | 39.4% | 81.4% | ||
| Q4 24 | 38.6% | 79.8% | ||
| Q3 24 | 23.2% | 82.1% | ||
| Q2 24 | 37.3% | 84.5% | ||
| Q1 24 | 38.7% | 85.3% |
| Q4 25 | 1.2% | 32.3% | ||
| Q3 25 | 3.1% | 30.4% | ||
| Q2 25 | 0.0% | 5.7% | ||
| Q1 25 | 0.8% | -31.2% | ||
| Q4 24 | 6.0% | -69.2% | ||
| Q3 24 | -108.7% | -36.4% | ||
| Q2 24 | 4.7% | -90.8% | ||
| Q1 24 | 7.6% | -6.1% |
| Q4 25 | 4.8% | 47.9% | ||
| Q3 25 | 3.0% | 42.3% | ||
| Q2 25 | 2.6% | 74.1% | ||
| Q1 25 | 1.6% | -5.1% | ||
| Q4 24 | 3.3% | -2.3% | ||
| Q3 24 | -100.2% | -126.1% | ||
| Q2 24 | 7.8% | -169.4% | ||
| Q1 24 | 9.6% | -18.7% |
| Q4 25 | $0.30 | $2.78 | ||
| Q3 25 | $0.18 | $2.91 | ||
| Q2 25 | $0.16 | $4.50 | ||
| Q1 25 | $0.09 | $-0.39 | ||
| Q4 24 | $0.27 | $-0.01 | ||
| Q3 24 | $-5.33 | $-9.39 | ||
| Q2 24 | $0.45 | $-14.35 | ||
| Q1 24 | $0.52 | $-1.71 |
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 | $226.6M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $2.1B | $-171.5M |
| Total Assets | $2.4B | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $839.3M | $226.6M | ||
| Q3 25 | $870.4M | $184.2M | ||
| Q2 25 | $899.6M | $267.4M | ||
| Q1 25 | $926.9M | $138.3M | ||
| Q4 24 | $930.2M | $146.9M | ||
| Q3 24 | $1.0B | $159.2M | ||
| Q2 24 | $1.1B | $236.9M | ||
| Q1 24 | $1.1B | $190.7M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.1B | $-171.5M | ||
| Q3 25 | $2.1B | $-260.5M | ||
| Q2 25 | $2.1B | $-351.7M | ||
| Q1 25 | $2.1B | $-496.8M | ||
| Q4 24 | $2.0B | $-488.2M | ||
| Q3 24 | $2.1B | $-497.6M | ||
| Q2 24 | $2.3B | $-218.3M | ||
| Q1 24 | $2.3B | $228.4M |
| Q4 25 | $2.4B | $1.7B | ||
| Q3 25 | $2.4B | $1.7B | ||
| Q2 25 | $2.4B | $1.5B | ||
| Q1 25 | $2.3B | $1.5B | ||
| Q4 24 | $2.3B | $1.8B | ||
| Q3 24 | $2.4B | $2.2B | ||
| Q2 24 | $2.5B | $3.2B | ||
| Q1 24 | $2.6B | $5.0B |
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 | $26.2M |
| Free Cash FlowOCF − Capex | $10.9M | — |
| FCF MarginFCF / Revenue | 4.0% | — |
| Capex IntensityCapex / Revenue | 6.5% | — |
| Cash ConversionOCF / Net Profit | 2.17× | 0.29× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.8M | $26.2M | ||
| Q3 25 | $35.3M | $-60.6M | ||
| Q2 25 | $-2.2M | $-25.6M | ||
| Q1 25 | $13.4M | $184.0K | ||
| Q4 24 | $73.8M | $-2.7M | ||
| Q3 24 | $66.1M | $19.5M | ||
| Q2 24 | $53.5M | $111.5M | ||
| Q1 24 | $54.6M | $135.4M |
| 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× | 0.29× | ||
| Q3 25 | 4.73× | -0.66× | ||
| Q2 25 | -0.34× | -0.18× | ||
| Q1 25 | 3.58× | — | ||
| Q4 24 | 9.44× | — | ||
| 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% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
