Pulling SEC filings + quote and writing the call…

IPG PHOTONICS CORP
Next earnings Aug 3, 2026 · consensus $0.40 EPS, $286M rev
Last earnings -25.7% on 2026-05-05
A debt-free fiber-laser leader at a deep earnings trough — fortress balance sheet, but margins are near zero and demand soft.
Sources: SEC EDGAR (CIK 0001111928, latest 10-Q filed 2026-05-05) · EODHD · analysis by claude-code · as of 6/21/2026, 9:00:31 PM.
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Middling fundamentals and a rich price (~76% above fair value) leave little margin of safety — a wait-and-see.
IPG Photonics is the leading maker of high-power fiber lasers used in industrial cutting, welding and materials processing. The company is in a deep cyclical and structural trough. Revenue of $1.00B is far below the $1.46B FY2021 peak, and although it edged up 2.7% YoY, profitability is barely positive: a 1.3% operating margin, 3.1% net margin and net income of just $31.1M produced a 1.5% ROE. The 161.7 P/E is therefore not a meaningful valuation — it reflects collapsed trough earnings. The pressure stems from weak industrial-laser demand, softness in China and competition that has eroded the high margins IPG once enjoyed (gross margin is now 38.0%, well below historical levels).
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.46B | $1.43B | $1.29B | $977M | $1.00B |
| Gross profit | $696M | $555M | $542M | $338M | $381M |
| Operating income | $368M | $170M | $232M | -$208M | $13.1M |
| Net income | $278M | $110M | $219M | -$182M | $31.1M |
| Diluted EPS | $5.16 | $2.16 | $4.63 | -$4.09 | $0.73 |
| Net margin | 19.1% | 7.7% | 17.0% | -18.6% | 3.1% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Source: EODHD. Yield = trailing-12-month dividends ÷ price.
1048 tracked peers · median
Disclosed under the STOCK Act
Self-reported periodic transaction reports (STOCK Act). Amounts are disclosed ranges; a trade may be a spouse's. Disclosures lag the trade by up to ~45 days. Source: House Clerk + Senate eFD.
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
Last 90 days: 0 open-market buys · 6 sales
| 2026-06-22 | Agnes Tang Director | Sell | 775.00 @ $117.32 | $90.9K |
| 2026-06-22 | Agnes Tang Director | Sell | 536.00 @ $118.08 | $63.3K |
| 2026-06-22 | Agnes Tang Director | Sell | 200.00 @ $119.32 | $23.9K |
| 2026-06-05 | Gitin Mark Milton CEO | Tax | 4.64K @ $107.37 | $498K |
| 2026-05-22 | Mammen Timothy PV SVP, Chief Financial Officer | Sell | 7.26K @ $119.60 | $869K |
| 2026-05-22 | Mammen Timothy PV SVP, Chief Financial Officer | Sell | 2.71K @ $120.37 | $326K |
| 2026-05-14 | Desmond Jeanmarie F. Director | Sell | 1.69K @ $105.58 | $178K |
| 2026-05-12 | KENNEDY KOLLEEN T Director | Award | 2.44K | |
| 2026-05-12 | PEELER JOHN R Director | Award | 2.44K | |
| 2026-05-12 | Dougherty Greg Director | Award | 2.44K | |
| 2026-05-12 | Desmond Jeanmarie F. Director | Award | 2.44K |
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.