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Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and STONERIDGE INC (SRI). Click either name above to swap in a different company.
IPG PHOTONICS CORP is the larger business by last-quarter revenue ($274.5M vs $205.2M, roughly 1.3× STONERIDGE INC). On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs -6.0%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $2.6M). Over the past eight quarters, IPG PHOTONICS CORP's revenue compounded faster (4.4% CAGR vs -7.4%).
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.
Stoneridge Inc is a global designer and manufacturer of advanced electrical and electronic components, integrated systems, and sensor solutions. It serves automotive, commercial vehicle, off-highway, and aerospace sectors, delivering products that boost vehicle safety, efficiency, connectivity, and environmental performance across key global markets.
IPGP vs SRI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $205.2M |
| Net Profit | $13.3M | — |
| Gross Margin | 36.1% | 16.2% |
| Operating Margin | 1.2% | -14.4% |
| Net Margin | 4.8% | — |
| Revenue YoY | 17.1% | -6.0% |
| Net Profit YoY | 69.8% | — |
| EPS (diluted) | $0.30 | $-2.76 |
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 | $205.2M | ||
| Q3 25 | $250.8M | $210.3M | ||
| Q2 25 | $250.7M | $228.0M | ||
| Q1 25 | $227.8M | $217.9M | ||
| Q4 24 | $234.3M | $218.2M | ||
| Q3 24 | $233.1M | $213.8M | ||
| Q2 24 | $257.6M | $237.1M | ||
| Q1 24 | $252.0M | $239.2M |
| Q4 25 | $13.3M | — | ||
| Q3 25 | $7.5M | $-9.4M | ||
| Q2 25 | $6.6M | $-9.4M | ||
| Q1 25 | $3.8M | $-7.2M | ||
| Q4 24 | $7.8M | — | ||
| Q3 24 | $-233.6M | $-7.1M | ||
| Q2 24 | $20.2M | $2.8M | ||
| Q1 24 | $24.1M | $-6.1M |
| Q4 25 | 36.1% | 16.2% | ||
| Q3 25 | 39.5% | 20.3% | ||
| Q2 25 | 37.3% | 21.5% | ||
| Q1 25 | 39.4% | 21.2% | ||
| Q4 24 | 38.6% | 19.5% | ||
| Q3 24 | 23.2% | 20.8% | ||
| Q2 24 | 37.3% | 22.7% | ||
| Q1 24 | 38.7% | 20.2% |
| Q4 25 | 1.2% | -14.4% | ||
| Q3 25 | 3.1% | -1.6% | ||
| Q2 25 | 0.0% | -1.1% | ||
| Q1 25 | 0.8% | -1.5% | ||
| Q4 24 | 6.0% | -2.0% | ||
| Q3 24 | -108.7% | 0.1% | ||
| Q2 24 | 4.7% | 1.4% | ||
| Q1 24 | 7.6% | 0.1% |
| Q4 25 | 4.8% | — | ||
| Q3 25 | 3.0% | -4.5% | ||
| Q2 25 | 2.6% | -4.1% | ||
| Q1 25 | 1.6% | -3.3% | ||
| Q4 24 | 3.3% | — | ||
| Q3 24 | -100.2% | -3.3% | ||
| Q2 24 | 7.8% | 1.2% | ||
| Q1 24 | 9.6% | -2.6% |
| Q4 25 | $0.30 | $-2.76 | ||
| Q3 25 | $0.18 | $-0.34 | ||
| Q2 25 | $0.16 | $-0.34 | ||
| Q1 25 | $0.09 | $-0.26 | ||
| Q4 24 | $0.27 | $-0.22 | ||
| Q3 24 | $-5.33 | $-0.26 | ||
| Q2 24 | $0.45 | $0.10 | ||
| Q1 24 | $0.52 | $-0.22 |
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 | $66.3M |
| Total DebtLower is stronger | — | $180.9M |
| Stockholders' EquityBook value | $2.1B | $179.8M |
| Total Assets | $2.4B | $551.2M |
| Debt / EquityLower = less leverage | — | 1.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $839.3M | $66.3M | ||
| Q3 25 | $870.4M | $54.0M | ||
| Q2 25 | $899.6M | $49.8M | ||
| Q1 25 | $926.9M | $79.1M | ||
| Q4 24 | $930.2M | $71.8M | ||
| Q3 24 | $1.0B | $54.1M | ||
| Q2 24 | $1.1B | $42.1M | ||
| Q1 24 | $1.1B | $48.4M |
| Q4 25 | — | $180.9M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $201.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.1B | $179.8M | ||
| Q3 25 | $2.1B | $251.2M | ||
| Q2 25 | $2.1B | $260.5M | ||
| Q1 25 | $2.1B | $253.1M | ||
| Q4 24 | $2.0B | $245.3M | ||
| Q3 24 | $2.1B | $271.4M | ||
| Q2 24 | $2.3B | $270.5M | ||
| Q1 24 | $2.3B | $277.3M |
| Q4 25 | $2.4B | $551.2M | ||
| Q3 25 | $2.4B | $632.1M | ||
| Q2 25 | $2.4B | $639.4M | ||
| Q1 25 | $2.3B | $657.4M | ||
| Q4 24 | $2.3B | $621.6M | ||
| Q3 24 | $2.4B | $662.5M | ||
| Q2 24 | $2.5B | $666.7M | ||
| Q1 24 | $2.6B | $675.4M |
| Q4 25 | — | 1.01× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.82× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $8.8M |
| Free Cash FlowOCF − Capex | $10.9M | $2.6M |
| FCF MarginFCF / Revenue | 4.0% | 1.3% |
| Capex IntensityCapex / Revenue | 6.5% | 3.0% |
| Cash ConversionOCF / Net Profit | 2.17× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-3.5M | $12.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.8M | $8.8M | ||
| Q3 25 | $35.3M | $3.6M | ||
| Q2 25 | $-2.2M | $10.7M | ||
| Q1 25 | $13.4M | $10.9M | ||
| Q4 24 | $73.8M | $19.2M | ||
| Q3 24 | $66.1M | $10.8M | ||
| Q2 24 | $53.5M | $8.7M | ||
| Q1 24 | $54.6M | $9.1M |
| Q4 25 | $10.9M | $2.6M | ||
| Q3 25 | $14.6M | $-2.7M | ||
| Q2 25 | $-17.6M | $7.4M | ||
| Q1 25 | $-11.4M | $4.8M | ||
| Q4 24 | $50.6M | $14.0M | ||
| Q3 24 | $43.0M | $4.6M | ||
| Q2 24 | $29.2M | $1.5M | ||
| Q1 24 | $26.5M | $3.3M |
| Q4 25 | 4.0% | 1.3% | ||
| Q3 25 | 5.8% | -1.3% | ||
| Q2 25 | -7.0% | 3.3% | ||
| Q1 25 | -5.0% | 2.2% | ||
| Q4 24 | 21.6% | 6.4% | ||
| Q3 24 | 18.4% | 2.2% | ||
| Q2 24 | 11.3% | 0.6% | ||
| Q1 24 | 10.5% | 1.4% |
| Q4 25 | 6.5% | 3.0% | ||
| Q3 25 | 8.3% | 3.0% | ||
| Q2 25 | 6.1% | 1.4% | ||
| Q1 25 | 10.9% | 2.8% | ||
| Q4 24 | 9.9% | 2.4% | ||
| Q3 24 | 9.9% | 2.9% | ||
| Q2 24 | 9.4% | 3.0% | ||
| Q1 24 | 11.1% | 2.4% |
| Q4 25 | 2.17× | — | ||
| Q3 25 | 4.73× | — | ||
| Q2 25 | -0.34× | — | ||
| Q1 25 | 3.58× | — | ||
| Q4 24 | 9.44× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.65× | 3.11× | ||
| 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% |
SRI
| Control Devices | $51.7M | 25% |
| Electronics | $38.0M | 19% |
| EE | $34.2M | 17% |
| SE | $28.6M | 14% |
| NL | $24.5M | 12% |
| Stoneridge Brazil | $14.1M | 7% |
| Asia Pacific | $13.1M | 6% |
