$12.6 B

IPGP Mkt cap, 22-Jun-2018

$359.9 M

IPG Photonics Revenue Q1, 2018
IPG Photonics Gross profit (Q1, 2018)203.4 M
IPG Photonics Gross profit margin (Q1, 2018), %56.5%
IPG Photonics Net income (Q1, 2018)106.3 M
IPG Photonics EBIT (Q1, 2018)141.1 M
IPG Photonics Cash, 31-Mar-2018969.1 M
IPG Photonics EV11.7 B

IPG Photonics Revenue Breakdown

Embed Graph

IPG Photonics revenue breakdown by business segment: 93.6% from Materials Processing and 6.4% from Other

IPG Photonics Financials

IPG Photonics Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

769.8 m901.3 m1 b1.4 b

Revenue growth, %

19%17%12%

Cost of goods sold

409.4 m453.9 m612 m

Gross profit

491.9 m552.2 m796.9 m

Gross profit Margin, %

55%55%57%

Sales and marketing expense

38.4 m49.8 m

R&D expense

78.6 m100.9 m

General and administrative expense

66.5 m80.7 m

Operating expense total

183.4 m245.8 m

EBIT

283.8 m342 m364.3 m551.1 m

EBIT margin, %

37%38%36%39%

Interest expense

301 k1.3 m737 k

Interest income

1.3 m737 k

Pre tax profit

341.6 m366.6 m551.9 m

Income tax expense

(99.6 m)(105.8 m)(204.3 m)

Net Income

200.4 m242 m260.7 m347.6 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Revenue

235.1 m243.5 m207.2 m252.8 m266 m285.8 m369.4 m359.9 m

Cost of goods sold

106.4 m110.2 m92.8 m115.1 m121.2 m128.6 m163.1 m156.5 m

Gross profit

128.7 m133.3 m114.4 m137.7 m144.8 m157.3 m206.3 m203.4 m

Gross profit Margin, %

55%55%55%54%54%55%56%57%

Sales and marketing expense

8 m7.7 m8 m9.7 m10.5 m10.8 m12.1 m13.5 m

R&D expense

15.1 m16.2 m17.5 m18.4 m20.5 m22.8 m26 m28.5 m

General and administrative expense

15 m14.7 m13.9 m16.2 m16.8 m17.7 m19.9 m25.5 m

Operating expense total

41.3 m43.7 m44.4 m42.7 m50.7 m55.8 m65.2 m62.3 m

EBIT

87.4 m89.6 m70 m95 m94.1 m101.5 m141.1 m141.1 m

EBIT margin, %

37%37%34%38%35%36%38%39%

Interest expense

112 k40 k192 k270 k373 k

Interest income

192 k270 k373 k311 k

Pre tax profit

87.5 m89.7 m70.2 m95.4 m94.7 m101.3 m141.6 m141.9 m

Income tax expense

(26.2 m)(26.9 m)(20.9 m)(28.4 m)(25.4 m)(26.3 m)(37.5 m)(35.5 m)

Net Income

42.3 m40.5 m48.3 m55.2 m57.3 m61.2 m62.8 m49.3 m67 m69.2 m74.9 m104.1 m106.3 m

IPG Photonics Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

448.8 m522.2 m582.5 m623.9 m909.9 m

Accounts Receivable

103.8 m143.1 m150.5 m155.9 m237.3 m

Inventories

172.7 m171 m203.7 m239 m307.7 m

Current Assets

786.3 m893.8 m1.1 b1.3 b1.8 b

PP&E

252.2 m275.1 m288.6 m379.4 m460.2 m

Goodwill

455 k455 k505 k19.8 m55.8 m

Accounts Payable

18.8 m17.1 m26.3 m28 m35.1 m

Short-term debt

1.3 m13.3 m2 m3.2 m3.6 m

Current Liabilities

100.1 m122.1 m145 m158.3 m198.9 m

Long-term debt

11.3 m19.7 m17.7 m37.6 m45.4 m

Total Debt

12.7 m33 m19.7 m40.8 m49 m

Total Liabilities

232.3 m344.9 m

Additional Paid-in Capital

538.9 m567.6 m607.6 m651 m704.7 m

Retained Earnings

390.8 m591.2 m833.4 m1.1 b1.4 b

Total Equity

1.3 b1.6 b2 b

Debt to Equity Ratio

0 x0 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Cash

398.4 m480.6 m483.4 m487.5 m541.5 m571.5 m651.2 m613.7 m587.3 m645.6 m697.8 m808.1 m969.1 m

Accounts Receivable

120.6 m107.6 m124.1 m136.6 m149.8 m169.8 m154.8 m146.5 m151.5 m162.7 m180.2 m237.3 m235.5 m

Inventories

171.3 m170.6 m178.9 m179.5 m174.1 m190.8 m197.6 m226.9 m241.3 m242.4 m261.9 m260.7 m356.4 m

Current Assets

749.2 m825.1 m854.1 m863.3 m931 m1 b1.1 b1.2 b1.2 b1.3 b1.4 b1.5 b1.9 b

PP&E

236.5 m249.4 m268.1 m271.3 m274.1 m288.6 m286.5 m309.2 m350.4 m367.5 m395.9 m389.9 m483.9 m

Goodwill

455 k455 k455 k455 k519 k516 k508 k502 k20.5 m20.1 m19.8 m28.7 m55.7 m

Accounts Payable

14.3 m18.6 m15.1 m19 m15.9 m21.5 m20.9 m20.3 m20.4 m17.9 m25.4 m29 m33.4 m

Short-term debt

1.3 m1.3 m12 m11.7 m13 m2 m2 m2 m3.2 m3.2 m3.2 m1.2 m3.6 m

Current Liabilities

105.8 m103.3 m113.2 m128 m123.1 m125.8 m148.9 m150.7 m135 m155.6 m157.7 m156.8 m195.6 m

Long-term debt

11.7 m11 m19.2 m18.7 m18.2 m17.2 m39.2 m38.4 m36.8 m21.4 m44.5 m

Total Debt

13 m12.3 m12 m11.7 m32.2 m20.7 m20.2 m19.2 m42.4 m41.6 m40 m22.6 m48.1 m

Total Liabilities

134.1 m135.7 m134.5 m148.7 m168.7 m170.8 m192.3 m203.1 m206.1 m224.3 m236.3 m226.2 m352.6 m

Additional Paid-in Capital

526.5 m544.4 m551.9 m556.4 m580.9 m591.7 m597.8 m616.2 m629.7 m635.8 m668 m681.3 m714.3 m

Retained Earnings

354.2 m431.3 m479.6 m534.8 m648.6 m709.9 m772.7 m882.7 m949.7 m1 b1.2 b1.3 b1.6 b

Total Equity

1.1 b1.2 b1.2 b1.3 b1.4 b1.5 b1.7 b1.8 b

IPG Photonics Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

155.8 m200.4 m242 m260.7 m347.6 m

Depreciation and Amortization

31.5 m35.6 m42.4 m51.5 m64.6 m

Accounts Receivable

(10 m)(49 m)(19 m)(11.4 m)(63.2 m)

Inventories

(50 m)(42 m)(71 m)(53.6 m)(71.1 m)

Accounts Payable

974 k3.3 m9.8 m(407 k)2.3 m

Cash From Operating Activities

119.4 m180.1 m256.6 m292.3 m405.4 m

Purchases of PP&E

(70.9 m)(88.6 m)(70.1 m)(127 m)(126.5 m)

Cash From Investing Activities

(75.9 m)(90.1 m)(181.6 m)(274.4 m)(170.8 m)

Cash From Financing Activities

14.1 m11.5 m5.4 m32.9 m(3.4 m)

Interest Paid

208 k253 k873 k942 k2.6 m

Income Taxes Paid

89.6 m73.5 m91.3 m127 m155.6 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Net Income

119.2 m40.5 m88.8 m144 m57.3 m118.6 m181.3 m49.3 m116.4 m185.6 m74.9 m179 m106.3 m

Depreciation and Amortization

23.4 m8.1 m17.1 m26.4 m9.7 m20.2 m31.1 m11.4 m23.7 m37.6 m14.5 m29.7 m19.2 m

Accounts Receivable

(26.9 m)(4.4 m)(20.7 m)(37.9 m)(11.9 m)(31.7 m)(20 m)8.1 m2.9 m(10.9 m)(22.8 m)(73.6 m)7.9 m

Inventories

(43.7 m)(3.9 m)(15 m)(30.2 m)(13.9 m)(33.2 m)(52.2 m)(19.4 m)(34.7 m)(42.8 m)(22.4 m)(25.8 m)(49.7 m)

Accounts Payable

(2 m)516 k(2.7 m)1.3 m(1.2 m)4.4 m4.5 m(6.7 m)(8.4 m)(9.8 m)(1.6 m)1.9 m1.1 m

Cash From Operating Activities

61 m43.4 m76.9 m124.1 m52 m101.4 m194.6 m64 m105.3 m193 m50.8 m133.1 m99.7 m

Purchases of PP&E

(48.3 m)(11.5 m)

Cash From Investing Activities

(53.2 m)(11.3 m)(45.5 m)(74.2 m)(18.8 m)(37.3 m)(55.4 m)(44.7 m)(137.6 m)(166.9 m)20.4 m44.7 m(39.4 m)

Cash From Financing Activities

3.4 m871 k4.6 m4.6 m6.5 m2.1 m1.2 m3 m33.4 m29.6 m(3.7 m)(25.4 m)(17.9 m)

Interest Paid

190 k102 k223 k302 k293 k533 k688 k171 k349 k623 k447 k975 k799 k

Income Taxes Paid

74.1 m20.9 m41.5 m56.7 m11.9 m44.7 m65.4 m12 m66.5 m92.5 m31.4 m81 m19.5 m

IPG Photonics Ratios

USDY, 2018

EV/EBIT

82.6 x

EV/CFO

117 x
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IPG Photonics Operating Metrics

IPG Photonics's Patent Applications was reported to be 380 in FY, 2016. IPG Photonics's Backlog was reported to be $413.9m in FY, 2016.
FY, 2014FY, 2015FY, 2016

Backlog

$321 m$442.50 m$413.90 m

Countries

14 15 16

Patent Applications

260 320 380

Patents Issued

170 200 240
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