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Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and TEXAS CAPITAL BANCSHARES INC (TCBI). Click either name above to swap in a different company.
TEXAS CAPITAL BANCSHARES INC is the larger business by last-quarter revenue ($324.0M vs $274.5M, roughly 1.2× IPG PHOTONICS CORP). TEXAS CAPITAL BANCSHARES INC runs the higher net margin — 22.8% vs 4.8%, a 17.9% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs 15.5%). Over the past eight quarters, TEXAS CAPITAL BANCSHARES INC's revenue compounded faster (10.2% 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.
Texas Capital Bank is a bank headquartered in Dallas, Texas. The bank has branches located in every major city in Texas. Its parent bank holding company is Texas Capital Bancshares. It also operates an online-only banking division, Bask Bank.
IPGP vs TCBI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $324.0M |
| Net Profit | $13.3M | $73.8M |
| Gross Margin | 36.1% | — |
| Operating Margin | 1.2% | — |
| Net Margin | 4.8% | 22.8% |
| Revenue YoY | 17.1% | 15.5% |
| Net Profit YoY | 69.8% | 56.8% |
| EPS (diluted) | $0.30 | $1.56 |
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.
| Q1 26 | — | $324.0M | ||
| Q4 25 | $274.5M | $327.5M | ||
| Q3 25 | $250.8M | $340.4M | ||
| Q2 25 | $250.7M | $307.5M | ||
| Q1 25 | $227.8M | $280.5M | ||
| Q4 24 | $234.3M | $229.6M | ||
| Q3 24 | $233.1M | $125.3M | ||
| Q2 24 | $257.6M | $267.0M |
| Q1 26 | — | $73.8M | ||
| Q4 25 | $13.3M | $100.7M | ||
| Q3 25 | $7.5M | $105.2M | ||
| Q2 25 | $6.6M | $77.3M | ||
| Q1 25 | $3.8M | $47.0M | ||
| Q4 24 | $7.8M | $71.0M | ||
| Q3 24 | $-233.6M | $-61.3M | ||
| Q2 24 | $20.2M | $41.7M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 1.2% | 40.4% | ||
| Q3 25 | 3.1% | 40.5% | ||
| Q2 25 | 0.0% | 33.2% | ||
| Q1 25 | 0.8% | 21.6% | ||
| Q4 24 | 6.0% | 40.7% | ||
| Q3 24 | -108.7% | -63.8% | ||
| Q2 24 | 4.7% | 21.9% |
| Q1 26 | — | 22.8% | ||
| Q4 25 | 4.8% | 30.7% | ||
| Q3 25 | 3.0% | 30.9% | ||
| Q2 25 | 2.6% | 25.2% | ||
| Q1 25 | 1.6% | 16.8% | ||
| Q4 24 | 3.3% | 30.9% | ||
| Q3 24 | -100.2% | -48.9% | ||
| Q2 24 | 7.8% | 15.6% |
| Q1 26 | — | $1.56 | ||
| Q4 25 | $0.30 | $2.11 | ||
| Q3 25 | $0.18 | $2.18 | ||
| Q2 25 | $0.16 | $1.58 | ||
| Q1 25 | $0.09 | $0.92 | ||
| Q4 24 | $0.27 | $1.43 | ||
| Q3 24 | $-5.33 | $-1.41 | ||
| Q2 24 | $0.45 | $0.80 |
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 | — |
| Total DebtLower is stronger | — | $878.3M |
| Stockholders' EquityBook value | $2.1B | $3.6B |
| Total Assets | $2.4B | $33.5B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $839.3M | — | ||
| Q3 25 | $870.4M | — | ||
| Q2 25 | $899.6M | — | ||
| Q1 25 | $926.9M | — | ||
| Q4 24 | $930.2M | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.1B | — |
| Q1 26 | — | $878.3M | ||
| Q4 25 | — | $620.6M | ||
| Q3 25 | — | $620.4M | ||
| Q2 25 | — | $620.3M | ||
| Q1 25 | — | $660.5M | ||
| Q4 24 | — | $660.3M | ||
| Q3 24 | — | $660.2M | ||
| Q2 24 | — | $660.0M |
| Q1 26 | — | $3.6B | ||
| Q4 25 | $2.1B | $3.6B | ||
| Q3 25 | $2.1B | $3.6B | ||
| Q2 25 | $2.1B | $3.5B | ||
| Q1 25 | $2.1B | $3.4B | ||
| Q4 24 | $2.0B | $3.4B | ||
| Q3 24 | $2.1B | $3.4B | ||
| Q2 24 | $2.3B | $3.2B |
| Q1 26 | — | $33.5B | ||
| Q4 25 | $2.4B | $31.5B | ||
| Q3 25 | $2.4B | $32.5B | ||
| Q2 25 | $2.4B | $31.9B | ||
| Q1 25 | $2.3B | $31.4B | ||
| Q4 24 | $2.3B | $30.7B | ||
| Q3 24 | $2.4B | $31.6B | ||
| Q2 24 | $2.5B | $29.9B |
| Q1 26 | — | 0.24× | ||
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 0.20× | ||
| Q3 24 | — | 0.20× | ||
| Q2 24 | — | 0.21× |
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 | — |
| Free Cash FlowOCF − Capex | $10.9M | — |
| FCF MarginFCF / Revenue | 4.0% | — |
| Capex IntensityCapex / Revenue | 6.5% | — |
| Cash ConversionOCF / Net Profit | 2.17× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-3.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $28.8M | $360.2M | ||
| Q3 25 | $35.3M | $166.3M | ||
| Q2 25 | $-2.2M | $63.0M | ||
| Q1 25 | $13.4M | $368.0K | ||
| Q4 24 | $73.8M | $480.1M | ||
| Q3 24 | $66.1M | $332.8M | ||
| Q2 24 | $53.5M | $33.3M |
| Q1 26 | — | — | ||
| Q4 25 | $10.9M | $347.6M | ||
| Q3 25 | $14.6M | $161.3M | ||
| Q2 25 | $-17.6M | $57.5M | ||
| Q1 25 | $-11.4M | $-2.0M | ||
| Q4 24 | $50.6M | $415.2M | ||
| Q3 24 | $43.0M | $317.6M | ||
| Q2 24 | $29.2M | $11.1M |
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 106.1% | ||
| Q3 25 | 5.8% | 47.4% | ||
| Q2 25 | -7.0% | 18.7% | ||
| Q1 25 | -5.0% | -0.7% | ||
| Q4 24 | 21.6% | 180.9% | ||
| Q3 24 | 18.4% | 253.4% | ||
| Q2 24 | 11.3% | 4.1% |
| Q1 26 | — | — | ||
| Q4 25 | 6.5% | 3.8% | ||
| Q3 25 | 8.3% | 1.5% | ||
| Q2 25 | 6.1% | 1.8% | ||
| Q1 25 | 10.9% | 0.9% | ||
| Q4 24 | 9.9% | 28.2% | ||
| Q3 24 | 9.9% | 12.1% | ||
| Q2 24 | 9.4% | 8.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.17× | 3.58× | ||
| Q3 25 | 4.73× | 1.58× | ||
| Q2 25 | -0.34× | 0.81× | ||
| Q1 25 | 3.58× | 0.01× | ||
| Q4 24 | 9.44× | 6.76× | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.65× | 0.80× |
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% |
TCBI
Segment breakdown not available.
