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Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and Smith Douglas Homes Corp. (SDHC). Click either name above to swap in a different company.
IPG PHOTONICS CORP is the larger business by last-quarter revenue ($274.5M vs $260.4M, roughly 1.1× Smith Douglas Homes Corp.). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs 1.4%, a 3.5% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -9.4%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $8.7M). Over the past eight quarters, Smith Douglas Homes Corp.'s revenue compounded faster (17.3% 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.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
IPGP vs SDHC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $260.4M |
| Net Profit | $13.3M | $3.5M |
| Gross Margin | 36.1% | 19.9% |
| Operating Margin | 1.2% | 6.5% |
| Net Margin | 4.8% | 1.4% |
| Revenue YoY | 17.1% | -9.4% |
| Net Profit YoY | 69.8% | -14.3% |
| EPS (diluted) | $0.30 | $0.39 |
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 | $260.4M | ||
| Q3 25 | $250.8M | $262.0M | ||
| Q2 25 | $250.7M | $223.9M | ||
| Q1 25 | $227.8M | $224.7M | ||
| Q4 24 | $234.3M | $287.5M | ||
| Q3 24 | $233.1M | $277.8M | ||
| Q2 24 | $257.6M | $220.9M | ||
| Q1 24 | $252.0M | $189.2M |
| Q4 25 | $13.3M | $3.5M | ||
| Q3 25 | $7.5M | $2.1M | ||
| Q2 25 | $6.6M | $2.4M | ||
| Q1 25 | $3.8M | $2.7M | ||
| Q4 24 | $7.8M | $4.1M | ||
| Q3 24 | $-233.6M | $5.3M | ||
| Q2 24 | $20.2M | $3.6M | ||
| Q1 24 | $24.1M | $3.0M |
| Q4 25 | 36.1% | 19.9% | ||
| Q3 25 | 39.5% | 21.0% | ||
| Q2 25 | 37.3% | 23.2% | ||
| Q1 25 | 39.4% | 23.8% | ||
| Q4 24 | 38.6% | 25.5% | ||
| Q3 24 | 23.2% | 26.5% | ||
| Q2 24 | 37.3% | 26.7% | ||
| Q1 24 | 38.7% | 26.1% |
| Q4 25 | 1.2% | 6.5% | ||
| Q3 25 | 3.1% | 6.6% | ||
| Q2 25 | 0.0% | 7.7% | ||
| Q1 25 | 0.8% | 8.7% | ||
| Q4 24 | 6.0% | 10.4% | ||
| Q3 24 | -108.7% | 14.2% | ||
| Q2 24 | 4.7% | 11.7% | ||
| Q1 24 | 7.6% | 11.3% |
| Q4 25 | 4.8% | 1.4% | ||
| Q3 25 | 3.0% | 0.8% | ||
| Q2 25 | 2.6% | 1.1% | ||
| Q1 25 | 1.6% | 1.2% | ||
| Q4 24 | 3.3% | 1.4% | ||
| Q3 24 | -100.2% | 1.9% | ||
| Q2 24 | 7.8% | 1.7% | ||
| Q1 24 | 9.6% | 1.6% |
| Q4 25 | $0.30 | $0.39 | ||
| Q3 25 | $0.18 | $0.24 | ||
| Q2 25 | $0.16 | $0.26 | ||
| Q1 25 | $0.09 | $0.30 | ||
| Q4 24 | $0.27 | $0.50 | ||
| Q3 24 | $-5.33 | $0.58 | ||
| Q2 24 | $0.45 | $0.40 | ||
| Q1 24 | $0.52 | $0.33 |
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 | $12.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $86.7M |
| Total Assets | $2.4B | $557.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $839.3M | $12.7M | ||
| Q3 25 | $870.4M | $14.8M | ||
| Q2 25 | $899.6M | $16.8M | ||
| Q1 25 | $926.9M | $12.7M | ||
| Q4 24 | $930.2M | $22.4M | ||
| Q3 24 | $1.0B | $23.7M | ||
| Q2 24 | $1.1B | $17.3M | ||
| Q1 24 | $1.1B | $32.8M |
| Q4 25 | $2.1B | $86.7M | ||
| Q3 25 | $2.1B | $82.2M | ||
| Q2 25 | $2.1B | $80.0M | ||
| Q1 25 | $2.1B | $76.9M | ||
| Q4 24 | $2.0B | $73.6M | ||
| Q3 24 | $2.1B | $68.4M | ||
| Q2 24 | $2.3B | $62.1M | ||
| Q1 24 | $2.3B | $59.7M |
| Q4 25 | $2.4B | $557.6M | ||
| Q3 25 | $2.4B | $571.6M | ||
| Q2 25 | $2.4B | $570.2M | ||
| Q1 25 | $2.3B | $513.9M | ||
| Q4 24 | $2.3B | $475.9M | ||
| Q3 24 | $2.4B | $460.1M | ||
| Q2 24 | $2.5B | $429.3M | ||
| Q1 24 | $2.6B | $401.3M |
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 | $9.8M |
| Free Cash FlowOCF − Capex | $10.9M | $8.7M |
| FCF MarginFCF / Revenue | 4.0% | 3.4% |
| Capex IntensityCapex / Revenue | 6.5% | 0.4% |
| Cash ConversionOCF / Net Profit | 2.17× | 2.77× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.5M | $-36.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.8M | $9.8M | ||
| Q3 25 | $35.3M | $22.8M | ||
| Q2 25 | $-2.2M | $-28.9M | ||
| Q1 25 | $13.4M | $-34.9M | ||
| Q4 24 | $73.8M | $5.5M | ||
| Q3 24 | $66.1M | $22.9M | ||
| Q2 24 | $53.5M | $39.0K | ||
| Q1 24 | $54.6M | $-9.3M |
| Q4 25 | $10.9M | $8.7M | ||
| Q3 25 | $14.6M | $21.4M | ||
| Q2 25 | $-17.6M | $-31.1M | ||
| Q1 25 | $-11.4M | $-35.9M | ||
| Q4 24 | $50.6M | $4.8M | ||
| Q3 24 | $43.0M | $22.3M | ||
| Q2 24 | $29.2M | $-2.1M | ||
| Q1 24 | $26.5M | $-9.7M |
| Q4 25 | 4.0% | 3.4% | ||
| Q3 25 | 5.8% | 8.2% | ||
| Q2 25 | -7.0% | -13.9% | ||
| Q1 25 | -5.0% | -16.0% | ||
| Q4 24 | 21.6% | 1.7% | ||
| Q3 24 | 18.4% | 8.0% | ||
| Q2 24 | 11.3% | -1.0% | ||
| Q1 24 | 10.5% | -5.1% |
| Q4 25 | 6.5% | 0.4% | ||
| Q3 25 | 8.3% | 0.5% | ||
| Q2 25 | 6.1% | 0.9% | ||
| Q1 25 | 10.9% | 0.5% | ||
| Q4 24 | 9.9% | 0.2% | ||
| Q3 24 | 9.9% | 0.2% | ||
| Q2 24 | 9.4% | 1.0% | ||
| Q1 24 | 11.1% | 0.2% |
| Q4 25 | 2.17× | 2.77× | ||
| Q3 25 | 4.73× | 10.70× | ||
| Q2 25 | -0.34× | -12.24× | ||
| Q1 25 | 3.58× | -13.01× | ||
| Q4 24 | 9.44× | 1.33× | ||
| Q3 24 | — | 4.28× | ||
| Q2 24 | 2.65× | 0.01× | ||
| Q1 24 | 2.27× | -3.12× |
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% |
SDHC
| Southeast | $164.7M | 63% |
| Central | $95.8M | 37% |
