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Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and WESBANCO INC (WSBC). Click either name above to swap in a different company.
IPG PHOTONICS CORP is the larger business by last-quarter revenue ($274.5M vs $257.2M, roughly 1.1× WESBANCO INC). WESBANCO INC runs the higher net margin — 34.5% vs 4.8%, a 29.6% gap on every dollar of revenue. Over the past eight quarters, WESBANCO INC's revenue compounded faster (31.9% 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.
WesBanco, Inc., is a bank holding company headquartered in Wheeling, West Virginia, United States. It has over 200 branches in West Virginia, Ohio, Western Pennsylvania, Kentucky, Maryland, and Southern Indiana.
IPGP vs WSBC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $257.2M |
| Net Profit | $13.3M | $88.6M |
| Gross Margin | 36.1% | — |
| Operating Margin | 1.2% | — |
| Net Margin | 4.8% | 34.5% |
| Revenue YoY | 17.1% | — |
| Net Profit YoY | 69.8% | 54.4% |
| EPS (diluted) | $0.30 | $0.88 |
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 | — | $257.2M | ||
| Q4 25 | $274.5M | $265.6M | ||
| Q3 25 | $250.8M | $261.6M | ||
| Q2 25 | $250.7M | $260.7M | ||
| Q1 25 | $227.8M | $193.2M | ||
| Q4 24 | $234.3M | $162.9M | ||
| Q3 24 | $233.1M | $150.8M | ||
| Q2 24 | $257.6M | $147.9M |
| Q1 26 | — | $88.6M | ||
| Q4 25 | $13.3M | $91.1M | ||
| Q3 25 | $7.5M | $83.6M | ||
| Q2 25 | $6.6M | $57.4M | ||
| Q1 25 | $3.8M | $-9.0M | ||
| Q4 24 | $7.8M | $49.6M | ||
| Q3 24 | $-233.6M | $37.3M | ||
| Q2 24 | $20.2M | $28.9M |
| 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% | 43.2% | ||
| Q3 25 | 3.1% | 39.5% | ||
| Q2 25 | 0.0% | 27.2% | ||
| Q1 25 | 0.8% | -5.0% | ||
| Q4 24 | 6.0% | 38.0% | ||
| Q3 24 | -108.7% | 29.7% | ||
| Q2 24 | 4.7% | 23.7% |
| Q1 26 | — | 34.5% | ||
| Q4 25 | 4.8% | 34.3% | ||
| Q3 25 | 3.0% | 31.9% | ||
| Q2 25 | 2.6% | 22.0% | ||
| Q1 25 | 1.6% | -4.7% | ||
| Q4 24 | 3.3% | 30.5% | ||
| Q3 24 | -100.2% | 24.7% | ||
| Q2 24 | 7.8% | 19.5% |
| Q1 26 | — | $0.88 | ||
| Q4 25 | $0.30 | $0.97 | ||
| Q3 25 | $0.18 | $0.84 | ||
| Q2 25 | $0.16 | $0.57 | ||
| Q1 25 | $0.09 | $-0.15 | ||
| Q4 24 | $0.27 | $0.72 | ||
| Q3 24 | $-5.33 | $0.54 | ||
| Q2 24 | $0.45 | $0.44 |
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 | — | — |
| Stockholders' EquityBook value | $2.1B | $4.1B |
| Total Assets | $2.4B | $27.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $839.3M | $956.1M | ||
| Q3 25 | $870.4M | $1.0B | ||
| Q2 25 | $899.6M | $1.2B | ||
| Q1 25 | $926.9M | $1.1B | ||
| Q4 24 | $930.2M | $568.1M | ||
| Q3 24 | $1.0B | $620.9M | ||
| Q2 24 | $1.1B | $486.8M |
| Q1 26 | — | $4.1B | ||
| Q4 25 | $2.1B | $4.0B | ||
| Q3 25 | $2.1B | $4.1B | ||
| Q2 25 | $2.1B | $3.8B | ||
| Q1 25 | $2.1B | $3.8B | ||
| Q4 24 | $2.0B | $2.8B | ||
| Q3 24 | $2.1B | $2.8B | ||
| Q2 24 | $2.3B | $2.5B |
| Q1 26 | — | $27.5B | ||
| Q4 25 | $2.4B | $27.7B | ||
| Q3 25 | $2.4B | $27.5B | ||
| Q2 25 | $2.4B | $27.6B | ||
| Q1 25 | $2.3B | $27.4B | ||
| Q4 24 | $2.3B | $18.7B | ||
| Q3 24 | $2.4B | $18.5B | ||
| Q2 24 | $2.5B | $18.1B |
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 | $290.4M | ||
| Q3 25 | $35.3M | $116.9M | ||
| Q2 25 | $-2.2M | $105.0M | ||
| Q1 25 | $13.4M | $-26.4M | ||
| Q4 24 | $73.8M | $211.0M | ||
| Q3 24 | $66.1M | $60.7M | ||
| Q2 24 | $53.5M | $18.2M |
| Q1 26 | — | — | ||
| Q4 25 | $10.9M | $280.0M | ||
| Q3 25 | $14.6M | $114.9M | ||
| Q2 25 | $-17.6M | $98.3M | ||
| Q1 25 | $-11.4M | $-30.7M | ||
| Q4 24 | $50.6M | $200.7M | ||
| Q3 24 | $43.0M | $56.9M | ||
| Q2 24 | $29.2M | $17.3M |
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 105.4% | ||
| Q3 25 | 5.8% | 43.9% | ||
| Q2 25 | -7.0% | 37.7% | ||
| Q1 25 | -5.0% | -15.9% | ||
| Q4 24 | 21.6% | 123.2% | ||
| Q3 24 | 18.4% | 37.7% | ||
| Q2 24 | 11.3% | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | 6.5% | 3.9% | ||
| Q3 25 | 8.3% | 0.8% | ||
| Q2 25 | 6.1% | 2.6% | ||
| Q1 25 | 10.9% | 2.2% | ||
| Q4 24 | 9.9% | 6.3% | ||
| Q3 24 | 9.9% | 2.5% | ||
| Q2 24 | 9.4% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 2.17× | 3.19× | ||
| Q3 25 | 4.73× | 1.40× | ||
| Q2 25 | -0.34× | 1.83× | ||
| Q1 25 | 3.58× | — | ||
| Q4 24 | 9.44× | 4.25× | ||
| Q3 24 | — | 1.63× | ||
| Q2 24 | 2.65× | 0.63× |
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% |
WSBC
| Net Interest Income | $215.4M | 84% |
| Noninterest Income | $41.8M | 16% |
