vs
Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and RADIANT LOGISTICS, INC (RLGT). Click either name above to swap in a different company.
IPG PHOTONICS CORP is the larger business by last-quarter revenue ($274.5M vs $232.1M, roughly 1.2× RADIANT LOGISTICS, INC). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs 2.3%, a 2.5% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -12.3%). RADIANT LOGISTICS, INC produced more free cash flow last quarter ($11.6M vs $10.9M). Over the past eight quarters, RADIANT LOGISTICS, INC's revenue compounded faster (12.1% 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.
Radiant Logistics, Inc. is a leading third-party logistics provider offering end-to-end supply chain solutions, domestic and international freight forwarding, warehousing, and last-mile delivery services. It primarily serves North American markets, with key client segments including retail, manufacturing, e-commerce, and industrial sectors, helping businesses optimize logistics workflows and cut operational costs.
IPGP vs RLGT — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $232.1M |
| Net Profit | $13.3M | $5.3M |
| Gross Margin | 36.1% | — |
| Operating Margin | 1.2% | 3.2% |
| Net Margin | 4.8% | 2.3% |
| Revenue YoY | 17.1% | -12.3% |
| Net Profit YoY | 69.8% | -18.0% |
| EPS (diluted) | $0.30 | $0.11 |
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 | $232.1M | ||
| Q3 25 | $250.8M | $226.7M | ||
| Q2 25 | $250.7M | $220.6M | ||
| Q1 25 | $227.8M | $214.0M | ||
| Q4 24 | $234.3M | $264.5M | ||
| Q3 24 | $233.1M | $203.6M | ||
| Q2 24 | $257.6M | $206.0M | ||
| Q1 24 | $252.0M | $184.6M |
| Q4 25 | $13.3M | $5.3M | ||
| Q3 25 | $7.5M | $1.3M | ||
| Q2 25 | $6.6M | $4.9M | ||
| Q1 25 | $3.8M | $2.5M | ||
| Q4 24 | $7.8M | $6.5M | ||
| Q3 24 | $-233.6M | $3.4M | ||
| Q2 24 | $20.2M | $4.8M | ||
| Q1 24 | $24.1M | $-703.0K |
| 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% | 3.2% | ||
| Q3 25 | 3.1% | 0.9% | ||
| Q2 25 | 0.0% | 2.4% | ||
| Q1 25 | 0.8% | 1.6% | ||
| Q4 24 | 6.0% | 3.3% | ||
| Q3 24 | -108.7% | 1.9% | ||
| Q2 24 | 4.7% | 2.4% | ||
| Q1 24 | 7.6% | -0.5% |
| Q4 25 | 4.8% | 2.3% | ||
| Q3 25 | 3.0% | 0.6% | ||
| Q2 25 | 2.6% | 2.2% | ||
| Q1 25 | 1.6% | 1.2% | ||
| Q4 24 | 3.3% | 2.4% | ||
| Q3 24 | -100.2% | 1.7% | ||
| Q2 24 | 7.8% | 2.3% | ||
| Q1 24 | 9.6% | -0.4% |
| Q4 25 | $0.30 | $0.11 | ||
| Q3 25 | $0.18 | $0.03 | ||
| Q2 25 | $0.16 | $0.10 | ||
| Q1 25 | $0.09 | $0.05 | ||
| Q4 24 | $0.27 | $0.13 | ||
| Q3 24 | $-5.33 | $0.07 | ||
| Q2 24 | $0.45 | $0.11 | ||
| Q1 24 | $0.52 | $-0.02 |
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 | $31.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $229.8M |
| Total Assets | $2.4B | $439.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $839.3M | $31.9M | ||
| Q3 25 | $870.4M | $28.1M | ||
| Q2 25 | $899.6M | $22.9M | ||
| Q1 25 | $926.9M | $19.0M | ||
| Q4 24 | $930.2M | $19.9M | ||
| Q3 24 | $1.0B | $10.4M | ||
| Q2 24 | $1.1B | $24.9M | ||
| Q1 24 | $1.1B | $31.2M |
| Q4 25 | $2.1B | $229.8M | ||
| Q3 25 | $2.1B | $225.7M | ||
| Q2 25 | $2.1B | $226.0M | ||
| Q1 25 | $2.1B | $218.2M | ||
| Q4 24 | $2.0B | $214.4M | ||
| Q3 24 | $2.1B | $212.4M | ||
| Q2 24 | $2.3B | $209.4M | ||
| Q1 24 | $2.3B | $206.0M |
| Q4 25 | $2.4B | $439.4M | ||
| Q3 25 | $2.4B | $445.3M | ||
| Q2 25 | $2.4B | $426.8M | ||
| Q1 25 | $2.3B | $414.5M | ||
| Q4 24 | $2.3B | $386.8M | ||
| Q3 24 | $2.4B | $375.3M | ||
| Q2 24 | $2.5B | $371.2M | ||
| Q1 24 | $2.6B | $364.0M |
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 | $12.4M |
| Free Cash FlowOCF − Capex | $10.9M | $11.6M |
| FCF MarginFCF / Revenue | 4.0% | 5.0% |
| Capex IntensityCapex / Revenue | 6.5% | 0.3% |
| Cash ConversionOCF / Net Profit | 2.17× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.5M | $8.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.8M | $12.4M | ||
| Q3 25 | $35.3M | $2.5M | ||
| Q2 25 | $-2.2M | $3.1M | ||
| Q1 25 | $13.4M | $-5.7M | ||
| Q4 24 | $73.8M | $15.7M | ||
| Q3 24 | $66.1M | $205.0K | ||
| Q2 24 | $53.5M | $1.3M | ||
| Q1 24 | $54.6M | $3.9M |
| Q4 25 | $10.9M | $11.6M | ||
| Q3 25 | $14.6M | $977.0K | ||
| Q2 25 | $-17.6M | $2.2M | ||
| Q1 25 | $-11.4M | $-6.4M | ||
| Q4 24 | $50.6M | $14.1M | ||
| Q3 24 | $43.0M | $-1.9M | ||
| Q2 24 | $29.2M | $-185.0K | ||
| Q1 24 | $26.5M | $1.8M |
| Q4 25 | 4.0% | 5.0% | ||
| Q3 25 | 5.8% | 0.4% | ||
| Q2 25 | -7.0% | 1.0% | ||
| Q1 25 | -5.0% | -3.0% | ||
| Q4 24 | 21.6% | 5.3% | ||
| Q3 24 | 18.4% | -0.9% | ||
| Q2 24 | 11.3% | -0.1% | ||
| Q1 24 | 10.5% | 1.0% |
| Q4 25 | 6.5% | 0.3% | ||
| Q3 25 | 8.3% | 0.7% | ||
| Q2 25 | 6.1% | 0.4% | ||
| Q1 25 | 10.9% | 0.3% | ||
| Q4 24 | 9.9% | 0.6% | ||
| Q3 24 | 9.9% | 1.0% | ||
| Q2 24 | 9.4% | 0.7% | ||
| Q1 24 | 11.1% | 1.2% |
| Q4 25 | 2.17× | 2.33× | ||
| Q3 25 | 4.73× | 1.90× | ||
| Q2 25 | -0.34× | 0.63× | ||
| Q1 25 | 3.58× | -2.26× | ||
| Q4 24 | 9.44× | 2.43× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | 2.65× | 0.26× | ||
| 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% |
RLGT
| Transferred Over Time | $201.2M | 87% |
| Other | $25.0M | 11% |
| Value Added Services | $4.2M | 2% |
| Transferred At Point In Time | $1.8M | 1% |
