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Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and UNIVERSAL TECHNICAL INSTITUTE INC (UTI). Click either name above to swap in a different company.
IPG PHOTONICS CORP is the larger business by last-quarter revenue ($274.5M vs $220.8M, roughly 1.2× UNIVERSAL TECHNICAL INSTITUTE INC). UNIVERSAL TECHNICAL INSTITUTE INC runs the higher net margin — 5.8% vs 4.8%, a 1.0% gap on every dollar of revenue. On growth, IPG PHOTONICS CORP posted the faster year-over-year revenue change (17.1% vs 9.6%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $-19.2M). Over the past eight quarters, UNIVERSAL TECHNICAL INSTITUTE INC's revenue compounded faster (9.5% 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.
Universal Technical Institute, Inc. (UTI) is a private for-profit system of technical colleges in the United States. It was established in 1965 by Robert Sweet.
IPGP vs UTI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $220.8M |
| Net Profit | $13.3M | $12.8M |
| Gross Margin | 36.1% | — |
| Operating Margin | 1.2% | 7.1% |
| Net Margin | 4.8% | 5.8% |
| Revenue YoY | 17.1% | 9.6% |
| Net Profit YoY | 69.8% | -42.1% |
| EPS (diluted) | $0.30 | $0.23 |
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 | $220.8M | ||
| Q3 25 | $250.8M | $222.4M | ||
| Q2 25 | $250.7M | $204.3M | ||
| Q1 25 | $227.8M | $207.4M | ||
| Q4 24 | $234.3M | $201.4M | ||
| Q3 24 | $233.1M | $196.4M | ||
| Q2 24 | $257.6M | $177.5M | ||
| Q1 24 | $252.0M | $184.2M |
| Q4 25 | $13.3M | $12.8M | ||
| Q3 25 | $7.5M | $18.8M | ||
| Q2 25 | $6.6M | $10.7M | ||
| Q1 25 | $3.8M | $11.4M | ||
| Q4 24 | $7.8M | $22.2M | ||
| Q3 24 | $-233.6M | $18.8M | ||
| Q2 24 | $20.2M | $5.0M | ||
| Q1 24 | $24.1M | $7.8M |
| 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% | 7.1% | ||
| Q3 25 | 3.1% | 11.2% | ||
| Q2 25 | 0.0% | 6.9% | ||
| Q1 25 | 0.8% | 8.1% | ||
| Q4 24 | 6.0% | 13.6% | ||
| Q3 24 | -108.7% | 13.3% | ||
| Q2 24 | 4.7% | 4.2% | ||
| Q1 24 | 7.6% | 6.1% |
| Q4 25 | 4.8% | 5.8% | ||
| Q3 25 | 3.0% | 8.4% | ||
| Q2 25 | 2.6% | 5.2% | ||
| Q1 25 | 1.6% | 5.5% | ||
| Q4 24 | 3.3% | 11.0% | ||
| Q3 24 | -100.2% | 9.6% | ||
| Q2 24 | 7.8% | 2.8% | ||
| Q1 24 | 9.6% | 4.2% |
| Q4 25 | $0.30 | $0.23 | ||
| Q3 25 | $0.18 | $0.33 | ||
| Q2 25 | $0.16 | $0.19 | ||
| Q1 25 | $0.09 | $0.21 | ||
| Q4 24 | $0.27 | $0.40 | ||
| Q3 24 | $-5.33 | $0.35 | ||
| Q2 24 | $0.45 | $0.09 | ||
| Q1 24 | $0.52 | $0.14 |
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 | $162.8M |
| Total DebtLower is stronger | — | $101.4M |
| Stockholders' EquityBook value | $2.1B | $335.9M |
| Total Assets | $2.4B | $834.0M |
| Debt / EquityLower = less leverage | — | 0.30× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $839.3M | $162.8M | ||
| Q3 25 | $870.4M | $169.1M | ||
| Q2 25 | $899.6M | $70.7M | ||
| Q1 25 | $926.9M | $96.0M | ||
| Q4 24 | $930.2M | $172.0M | ||
| Q3 24 | $1.0B | $161.9M | ||
| Q2 24 | $1.1B | $115.5M | ||
| Q1 24 | $1.1B | $116.1M |
| Q4 25 | — | $101.4M | ||
| Q3 25 | — | $87.1M | ||
| Q2 25 | — | $73.8M | ||
| Q1 25 | — | $94.4M | ||
| Q4 24 | — | $120.1M | ||
| Q3 24 | — | $125.7M | ||
| Q2 24 | — | $137.3M | ||
| Q1 24 | — | $141.9M |
| Q4 25 | $2.1B | $335.9M | ||
| Q3 25 | $2.1B | $328.1M | ||
| Q2 25 | $2.1B | $306.8M | ||
| Q1 25 | $2.1B | $293.9M | ||
| Q4 24 | $2.0B | $280.0M | ||
| Q3 24 | $2.1B | $260.2M | ||
| Q2 24 | $2.3B | $239.4M | ||
| Q1 24 | $2.3B | $232.6M |
| Q4 25 | $2.4B | $834.0M | ||
| Q3 25 | $2.4B | $826.1M | ||
| Q2 25 | $2.4B | $740.8M | ||
| Q1 25 | $2.3B | $720.4M | ||
| Q4 24 | $2.3B | $753.8M | ||
| Q3 24 | $2.4B | $744.6M | ||
| Q2 24 | $2.5B | $706.0M | ||
| Q1 24 | $2.6B | $702.1M |
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | — | 0.61× |
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 | $3.1M |
| Free Cash FlowOCF − Capex | $10.9M | $-19.2M |
| FCF MarginFCF / Revenue | 4.0% | -8.7% |
| Capex IntensityCapex / Revenue | 6.5% | 10.1% |
| Cash ConversionOCF / Net Profit | 2.17× | 0.24× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.5M | $16.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.8M | $3.1M | ||
| Q3 25 | $35.3M | $57.1M | ||
| Q2 25 | $-2.2M | $18.1M | ||
| Q1 25 | $13.4M | $-789.0K | ||
| Q4 24 | $73.8M | $23.0M | ||
| Q3 24 | $66.1M | $67.5M | ||
| Q2 24 | $53.5M | $10.0M | ||
| Q1 24 | $54.6M | $-2.5M |
| Q4 25 | $10.9M | $-19.2M | ||
| Q3 25 | $14.6M | $40.6M | ||
| Q2 25 | $-17.6M | $6.8M | ||
| Q1 25 | $-11.4M | $-11.7M | ||
| Q4 24 | $50.6M | $19.6M | ||
| Q3 24 | $43.0M | $60.0M | ||
| Q2 24 | $29.2M | $3.0M | ||
| Q1 24 | $26.5M | $-8.4M |
| Q4 25 | 4.0% | -8.7% | ||
| Q3 25 | 5.8% | 18.3% | ||
| Q2 25 | -7.0% | 3.4% | ||
| Q1 25 | -5.0% | -5.7% | ||
| Q4 24 | 21.6% | 9.7% | ||
| Q3 24 | 18.4% | 30.6% | ||
| Q2 24 | 11.3% | 1.7% | ||
| Q1 24 | 10.5% | -4.6% |
| Q4 25 | 6.5% | 10.1% | ||
| Q3 25 | 8.3% | 7.4% | ||
| Q2 25 | 6.1% | 5.5% | ||
| Q1 25 | 10.9% | 5.3% | ||
| Q4 24 | 9.9% | 1.7% | ||
| Q3 24 | 9.9% | 3.8% | ||
| Q2 24 | 9.4% | 4.0% | ||
| Q1 24 | 11.1% | 3.2% |
| Q4 25 | 2.17× | 0.24× | ||
| Q3 25 | 4.73× | 3.04× | ||
| Q2 25 | -0.34× | 1.69× | ||
| Q1 25 | 3.58× | -0.07× | ||
| Q4 24 | 9.44× | 1.04× | ||
| Q3 24 | — | 3.58× | ||
| Q2 24 | 2.65× | 2.01× | ||
| Q1 24 | 2.27× | -0.32× |
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% |
UTI
| UTI | $142.8M | 65% |
| Concorde | $78.0M | 35% |
