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Side-by-side financial comparison of IPG PHOTONICS CORP (IPGP) and WOLVERINE WORLD WIDE INC (WWW). Click either name above to swap in a different company.
WOLVERINE WORLD WIDE INC is the larger business by last-quarter revenue ($517.5M vs $274.5M, roughly 1.9× IPG PHOTONICS CORP). WOLVERINE WORLD WIDE INC runs the higher net margin — 6.1% vs 4.8%, a 1.3% gap on every dollar of revenue. On growth, WOLVERINE WORLD WIDE INC posted the faster year-over-year revenue change (25.5% vs 17.1%). WOLVERINE WORLD WIDE INC produced more free cash flow last quarter ($145.6M vs $10.9M). Over the past eight quarters, WOLVERINE WORLD WIDE INC's revenue compounded faster (14.5% 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.
Wolverine World Wide is a global designer, manufacturer and marketer of branded footwear, apparel and accessories. It owns popular brands including Merrell, Sperry, Saucony and Hush Puppies, serving outdoor, casual, workwear and athletic segments via e-commerce, retail stores and global wholesale networks.
IPGP vs WWW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $274.5M | $517.5M |
| Net Profit | $13.3M | $31.8M |
| Gross Margin | 36.1% | 47.3% |
| Operating Margin | 1.2% | 9.7% |
| Net Margin | 4.8% | 6.1% |
| Revenue YoY | 17.1% | 25.5% |
| Net Profit YoY | 69.8% | 162.8% |
| EPS (diluted) | $0.30 | $0.37 |
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 | — | $517.5M | ||
| Q4 25 | $274.5M | — | ||
| Q3 25 | $250.8M | $470.3M | ||
| Q2 25 | $250.7M | $474.2M | ||
| Q1 25 | $227.8M | $412.3M | ||
| Q4 24 | $234.3M | $494.7M | ||
| Q3 24 | $233.1M | $440.2M | ||
| Q2 24 | $257.6M | $425.2M |
| Q1 26 | — | $31.8M | ||
| Q4 25 | $13.3M | — | ||
| Q3 25 | $7.5M | $25.1M | ||
| Q2 25 | $6.6M | $26.8M | ||
| Q1 25 | $3.8M | $12.1M | ||
| Q4 24 | $7.8M | $23.1M | ||
| Q3 24 | $-233.6M | $23.2M | ||
| Q2 24 | $20.2M | $13.8M |
| Q1 26 | — | 47.3% | ||
| Q4 25 | 36.1% | — | ||
| Q3 25 | 39.5% | 47.5% | ||
| Q2 25 | 37.3% | 47.2% | ||
| Q1 25 | 39.4% | 47.2% | ||
| Q4 24 | 38.6% | 43.4% | ||
| Q3 24 | 23.2% | 45.1% | ||
| Q2 24 | 37.3% | 43.1% |
| Q1 26 | — | 9.7% | ||
| Q4 25 | 1.2% | — | ||
| Q3 25 | 3.1% | 8.4% | ||
| Q2 25 | 0.0% | 8.6% | ||
| Q1 25 | 0.8% | 4.8% | ||
| Q4 24 | 6.0% | 7.4% | ||
| Q3 24 | -108.7% | 7.9% | ||
| Q2 24 | 4.7% | 6.8% |
| Q1 26 | — | 6.1% | ||
| Q4 25 | 4.8% | — | ||
| Q3 25 | 3.0% | 5.3% | ||
| Q2 25 | 2.6% | 5.7% | ||
| Q1 25 | 1.6% | 2.9% | ||
| Q4 24 | 3.3% | 4.7% | ||
| Q3 24 | -100.2% | 5.3% | ||
| Q2 24 | 7.8% | 3.2% |
| Q1 26 | — | $0.37 | ||
| Q4 25 | $0.30 | — | ||
| Q3 25 | $0.18 | $0.30 | ||
| Q2 25 | $0.16 | $0.32 | ||
| Q1 25 | $0.09 | $0.15 | ||
| Q4 24 | $0.27 | $0.29 | ||
| Q3 24 | $-5.33 | $0.28 | ||
| Q2 24 | $0.45 | $0.17 |
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 | — | $621.7M |
| Stockholders' EquityBook value | $2.1B | $408.0M |
| Total Assets | $2.4B | $1.7B |
| Debt / EquityLower = less leverage | — | 1.52× |
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 | — | $621.7M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $676.4M | ||
| Q2 25 | — | $708.5M | ||
| Q1 25 | — | $710.8M | ||
| Q4 24 | — | $648.0M | ||
| Q3 24 | — | $702.8M | ||
| Q2 24 | — | $814.7M |
| Q1 26 | — | $408.0M | ||
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | $376.7M | ||
| Q2 25 | $2.1B | $344.0M | ||
| Q1 25 | $2.1B | $310.6M | ||
| Q4 24 | $2.0B | $312.9M | ||
| Q3 24 | $2.1B | $295.2M | ||
| Q2 24 | $2.3B | $262.1M |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | $1.7B | ||
| Q2 25 | $2.4B | $1.8B | ||
| Q1 25 | $2.3B | $1.7B | ||
| Q4 24 | $2.3B | $1.7B | ||
| Q3 24 | $2.4B | $1.8B | ||
| Q2 24 | $2.5B | $1.8B |
| Q1 26 | — | 1.52× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 1.80× | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | — | 2.29× | ||
| Q4 24 | — | 2.07× | ||
| Q3 24 | — | 2.38× | ||
| Q2 24 | — | 3.11× |
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 | $146.2M |
| Free Cash FlowOCF − Capex | $10.9M | $145.6M |
| FCF MarginFCF / Revenue | 4.0% | 28.1% |
| Capex IntensityCapex / Revenue | 6.5% | 0.1% |
| Cash ConversionOCF / Net Profit | 2.17× | 4.60× |
| TTM Free Cash FlowTrailing 4 quarters | $-3.5M | $125.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $146.2M | ||
| Q4 25 | $28.8M | — | ||
| Q3 25 | $35.3M | $33.0M | ||
| Q2 25 | $-2.2M | $44.6M | ||
| Q1 25 | $13.4M | $-83.8M | ||
| Q4 24 | $73.8M | $82.4M | ||
| Q3 24 | $66.1M | $108.2M | ||
| Q2 24 | $53.5M | $26.7M |
| Q1 26 | — | $145.6M | ||
| Q4 25 | $10.9M | — | ||
| Q3 25 | $14.6M | $30.1M | ||
| Q2 25 | $-17.6M | $41.2M | ||
| Q1 25 | $-11.4M | $-91.4M | ||
| Q4 24 | $50.6M | $74.4M | ||
| Q3 24 | $43.0M | $104.1M | ||
| Q2 24 | $29.2M | $23.7M |
| Q1 26 | — | 28.1% | ||
| Q4 25 | 4.0% | — | ||
| Q3 25 | 5.8% | 6.4% | ||
| Q2 25 | -7.0% | 8.7% | ||
| Q1 25 | -5.0% | -22.2% | ||
| Q4 24 | 21.6% | 15.0% | ||
| Q3 24 | 18.4% | 23.6% | ||
| Q2 24 | 11.3% | 5.6% |
| Q1 26 | — | 0.1% | ||
| Q4 25 | 6.5% | — | ||
| Q3 25 | 8.3% | 0.6% | ||
| Q2 25 | 6.1% | 0.7% | ||
| Q1 25 | 10.9% | 1.8% | ||
| Q4 24 | 9.9% | 1.6% | ||
| Q3 24 | 9.9% | 0.9% | ||
| Q2 24 | 9.4% | 0.7% |
| Q1 26 | — | 4.60× | ||
| Q4 25 | 2.17× | — | ||
| Q3 25 | 4.73× | 1.31× | ||
| Q2 25 | -0.34× | 1.66× | ||
| Q1 25 | 3.58× | -6.93× | ||
| Q4 24 | 9.44× | 3.57× | ||
| Q3 24 | — | 4.66× | ||
| Q2 24 | 2.65× | 1.93× |
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% |
WWW
| Sales Channel Through Intermediary | $230.2M | 44% |
| Sales Channel Directly To Consumer | $142.6M | 28% |
| Work Group | $134.0M | 26% |
| Other | $10.7M | 2% |
