IPG Photonics Corporation (IPGP) is a publicly traded company in the Technology — Semiconductors industry listed on NASDAQ. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Established in 1990 and headquartered in Oxford, Massachusetts, IPG Photonics Corporation is a leading global developer and manufacturer of high-performance fiber, diode, and hybrid fiber-solid state lasers, along with fiber amplifiers. These advanced laser systems are primarily utilized across a wide range of materials processing applications worldwide.
Is IPG Photonics Corporation stock overvalued or undervalued in 2026?
On the earnings the consensus expects for 2027 ($2.25 per share), IPG Photonics Corporation (IPGP) trades at 32.3× earnings (P/E), above the median of the 317 technology companies over $2bn in Kaplio's universe. The P/E on the last twelve months (112×) is based on earnings per share of $0.65, far from what is expected; that is why this range uses expected earnings. At the decade median (33.8×) $76 (+5 %); at its sector median (31.5×) $71 (-2 %).
Kaplio overview: IPG Photonics Corporation
Market cap $3B · 52 weeks $69 – $154 (53 % below the high) · P/E 112× · 2027 est. P/E 32.2× · Dividend none · Next earnings November 3, 2026 · expected EPS $0.46 · Closing price, Oct 30 · accounts published Aug 4.
- Valuation: 2027 est. P/E 32.3× (fairly priced).
- Business: ROIC 0 % (weak).
- Balance sheet: Net cash/EBITDA 3.5× (solid).
- Earnings: 4 of 8 (uneven).
What would it be worth at its usual multiples?
On those earnings: at the decade median (33.8×) $76 (+5 %); at its sector median (31.5×) $71 (-2 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
Note: earnings per share over the last twelve months ($0.65) are far from the consensus for 2027 ($2.25); that is why this range uses expected earnings.
What matters in technology: 2 of 7 pass
- 3y revenue growth −5.8 %, fails.
- Gross margin 38.0 %, fails.
- FCF / Revenue −0.3 %, fails.
- ROIC 0.3 %, fails.
- EV/EBITDA vs own 5y 25.3×, fails.
- SBC / Revenue 4.3 %, passes.
- Net debt / EBITDA −3.5×, passes.
Against its peers (reference peers) — IPG Photonics Corporation: P/E 112×; EV/EBITDA 25.3×; ROIC 0.3 %; $3.1B. Novanta Inc. (P/E 93.4×; EV/EBITDA 32.9×; ROIC 4.3 %; $5.5B), Coherent, Inc. (P/E 51.2×; EV/EBITDA 28.1×; ROIC 5.1 %; $41.4B), Axcelis Technologies, Inc. (P/E 33.6×; EV/EBITDA 23.3×; ROIC 6.6 %; $3.1B).
Expensive or cheap against its last ten years?
P/E at each close: today 112× · median 33.8× · minimum 14.9× · maximum 196× · cheap below 21.2× · expensive above 58.6×. Earnings over the last 12 months are distorted: today's P/E compared with its history is not representative.
Profitability
| Return on Equity | 1.30% |
| Return on Invested Capital | 0.26% |
| Return on Assets | 1.14% |
| Gross Margin | 38.35% |
| Operating Margin | 0.74% |
| Net Margin | 2.58% |
Financial Health
| Debt / Equity | 0.01 |
| Current Ratio | 6.18 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 8.73 |
Price Performance
| 1 month | -13.63% |
| 3 months | -22.83% |
| Year-to-date | +1.38% |
| 1 year | -14.72% |
| 3 years | -21.04% |
| 5 years | -58.68% |
| 10 years | -22.66% |
Dividend History
| Date | Amount |
|---|---|
| December 19, 2012 | $0.65 |
Amounts adjusted for stock splits.
Related companies: LITE · NOVT · LASR · COHR
Explore sector: Technology · Semiconductors
More sections of IPGP: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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