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Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and UNITED FIRE GROUP INC (UFCS). Click either name above to swap in a different company.

UNITED FIRE GROUP INC is the larger business by last-quarter revenue ($365.8M vs $274.5M, roughly 1.3× IPG PHOTONICS CORP). On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs 9.8%). Over the past eight quarters, UNITED FIRE GROUP INC's revenue compounded faster (11.2% 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.

The United Fruit Company was an American multinational corporation that traded in tropical fruit grown on Latin American plantations and sold in the United States and Europe. The company was formed in 1899 from the merger of the Boston Fruit Company with Minor C. Keith's banana-trading enterprises. It flourished in the early and mid-20th century, and it came to control vast territories and transportation networks in Central America, the Caribbean coast of Colombia, and the West Indies. Althou...

IPGP vs UFCS — Head-to-Head

Bigger by revenue
UFCS
UFCS
1.3× larger
UFCS
$365.8M
$274.5M
IPGP
Growing faster (revenue YoY)
IPGP
IPGP
+7.3% gap
IPGP
17.1%
9.8%
UFCS
Faster 2-yr revenue CAGR
UFCS
UFCS
Annualised
UFCS
11.2%
4.4%
IPGP

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
IPGP
IPGP
UFCS
UFCS
Revenue
$274.5M
$365.8M
Net Profit
$13.3M
Gross Margin
36.1%
Operating Margin
1.2%
13.2%
Net Margin
4.8%
Revenue YoY
17.1%
9.8%
Net Profit YoY
69.8%
EPS (diluted)
$0.30
$1.45

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.

Revenue
IPGP
IPGP
UFCS
UFCS
Q4 25
$274.5M
$365.8M
Q3 25
$250.8M
$354.0M
Q2 25
$250.7M
$335.5M
Q1 25
$227.8M
$331.1M
Q4 24
$234.3M
$333.2M
Q3 24
$233.1M
$323.0M
Q2 24
$257.6M
$301.2M
Q1 24
$252.0M
$296.0M
Net Profit
IPGP
IPGP
UFCS
UFCS
Q4 25
$13.3M
Q3 25
$7.5M
$39.2M
Q2 25
$6.6M
$22.9M
Q1 25
$3.8M
$17.7M
Q4 24
$7.8M
Q3 24
$-233.6M
$19.7M
Q2 24
$20.2M
$-2.7M
Q1 24
$24.1M
$13.5M
Gross Margin
IPGP
IPGP
UFCS
UFCS
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%
Operating Margin
IPGP
IPGP
UFCS
UFCS
Q4 25
1.2%
13.2%
Q3 25
3.1%
13.7%
Q2 25
0.0%
8.7%
Q1 25
0.8%
6.6%
Q4 24
6.0%
11.9%
Q3 24
-108.7%
7.7%
Q2 24
4.7%
-1.3%
Q1 24
7.6%
5.5%
Net Margin
IPGP
IPGP
UFCS
UFCS
Q4 25
4.8%
Q3 25
3.0%
11.1%
Q2 25
2.6%
6.8%
Q1 25
1.6%
5.3%
Q4 24
3.3%
Q3 24
-100.2%
6.1%
Q2 24
7.8%
-0.9%
Q1 24
9.6%
4.6%
EPS (diluted)
IPGP
IPGP
UFCS
UFCS
Q4 25
$0.30
$1.45
Q3 25
$0.18
$1.49
Q2 25
$0.16
$0.87
Q1 25
$0.09
$0.67
Q4 24
$0.27
$1.22
Q3 24
$-5.33
$0.76
Q2 24
$0.45
$-0.11
Q1 24
$0.52
$0.52

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
IPGP
IPGP
UFCS
UFCS
Cash + ST InvestmentsLiquidity on hand
$839.3M
$156.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$2.1B
$941.2M
Total Assets
$2.4B
$3.8B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IPGP
IPGP
UFCS
UFCS
Q4 25
$839.3M
$156.3M
Q3 25
$870.4M
$233.7M
Q2 25
$899.6M
$202.1M
Q1 25
$926.9M
$183.7M
Q4 24
$930.2M
$200.9M
Q3 24
$1.0B
$197.4M
Q2 24
$1.1B
$153.4M
Q1 24
$1.1B
$217.8M
Stockholders' Equity
IPGP
IPGP
UFCS
UFCS
Q4 25
$2.1B
$941.2M
Q3 25
$2.1B
$898.7M
Q2 25
$2.1B
$845.7M
Q1 25
$2.1B
$817.7M
Q4 24
$2.0B
$781.5M
Q3 24
$2.1B
$785.8M
Q2 24
$2.3B
$726.6M
Q1 24
$2.3B
$736.8M
Total Assets
IPGP
IPGP
UFCS
UFCS
Q4 25
$2.4B
$3.8B
Q3 25
$2.4B
$3.8B
Q2 25
$2.4B
$3.7B
Q1 25
$2.3B
$3.5B
Q4 24
$2.3B
$3.5B
Q3 24
$2.4B
$3.5B
Q2 24
$2.5B
$3.4B
Q1 24
$2.6B
$3.2B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
IPGP
IPGP
UFCS
UFCS
Operating Cash FlowLast quarter
$28.8M
$269.7M
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.

Operating Cash Flow
IPGP
IPGP
UFCS
UFCS
Q4 25
$28.8M
$269.7M
Q3 25
$35.3M
$60.8M
Q2 25
$-2.2M
$53.4M
Q1 25
$13.4M
$35.7M
Q4 24
$73.8M
$340.3M
Q3 24
$66.1M
$56.5M
Q2 24
$53.5M
$91.3M
Q1 24
$54.6M
$36.2M
Free Cash Flow
IPGP
IPGP
UFCS
UFCS
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
FCF Margin
IPGP
IPGP
UFCS
UFCS
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%
Capex Intensity
IPGP
IPGP
UFCS
UFCS
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%
Cash Conversion
IPGP
IPGP
UFCS
UFCS
Q4 25
2.17×
Q3 25
4.73×
1.55×
Q2 25
-0.34×
2.33×
Q1 25
3.58×
2.02×
Q4 24
9.44×
Q3 24
2.86×
Q2 24
2.65×
Q1 24
2.27×
2.68×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

IPGP
IPGP

Materials Processing$232.8M85%
Laser And Non Laser Systems$38.8M14%
Transferred Over Time$5.3M2%

UFCS
UFCS

Segment breakdown not available.

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