Financials IPG Photonics Corporation

Equities

IPGP

US44980X1090

Electronic Equipment & Parts

Market Closed - Nasdaq Other stock markets 04:00:00 2024-04-26 pm EDT			5-day change	1st Jan Change
88.4 ^USD	+0.18%		+4.90%	-18.56%

Mar. 05	Transcript : IPG Photonics Corporation Presents at 45th Annual Raymond James Institutional Investors Conference 2024, Mar-05-2024 02:15 PM
Feb. 21	Ipg Photonics Insider Sold Shares Worth $343,147, According to a Recent SEC Filing	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,691	11,928	9,177	4,612	5,093	4,075	-	-
Enterprise Value (EV) ¹	6,550	10,575	7,696	3,450	3,915	2,851	4,075	4,075
P/E ratio	43.3 x	75.4 x	33.4 x	43.8 x	23.4 x	27.9 x	18.8 x	14.6 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	5.85 x	9.93 x	6.28 x	3.23 x	3.96 x	3.49 x	3.04 x	2.86 x
EV / Revenue	4.98 x	8.81 x	5.27 x	2.41 x	3.04 x	2.44 x	3.04 x	2.86 x
EV / EBITDA	17.5 x	36.1 x	16.6 x	8.71 x	13 x	12 x	12.2 x	10.6 x
EV / FCF	34.5 x	53.5 x	28.9 x	33.7 x	21.1 x	11.3 x	19.8 x	24.4 x
FCF Yield	2.9%	1.87%	3.46%	2.97%	4.74%	8.82%	5.05%	4.1%
Price to Book	3.25 x	4.61 x	3.32 x	1.91 x	2.08 x	1.58 x	1.43 x	1.3 x
Nbr of stocks (in thousands)	53,070	53,301	53,309	48,714	46,922	46,098	-	-
Reference price ²	144.9	223.8	172.1	94.67	108.5	88.40	88.40	88.40
Announcement Date	2/13/20	2/16/21	2/15/22	2/14/23	2/13/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,315	1,201	1,461	1,430	1,287	1,169	1,342	1,426
EBITDA ¹	374.3	293.2	464.2	396	301.2	237.3	332.7	382.9
EBIT ¹	233.8	244.4	367.9	305.5	231.6	150.1	248.8	299.7
Operating Margin	17.78%	20.36%	25.18%	21.37%	17.99%	12.84%	18.55%	21.02%
Earnings before Tax (EBT) ¹	248.4	205.7	366.5	183.4	274.9	194.9	293.3	363.1
Net income ¹	180.2	159.6	278.4	109.9	218.9	146.1	221.4	279.8
Net margin	13.71%	13.29%	19.06%	7.69%	17%	12.5%	16.51%	19.63%
EPS ²	3.350	2.970	5.160	2.160	4.630	3.172	4.700	6.070
Free Cash Flow ¹	190	197.6	266.6	102.5	185.5	251.6	206	167
FCF margin	14.45%	16.46%	18.25%	7.17%	14.41%	21.52%	15.35%	11.71%
FCF Conversion (EBITDA)	50.76%	67.4%	57.43%	25.88%	61.59%	106.03%	61.91%	43.61%
FCF Conversion (Net income)	105.41%	123.86%	95.75%	93.27%	84.75%	172.18%	93.01%	59.68%
Dividend per Share ²	-	-	-	-	-	-	-	-
Announcement Date	2/13/20	2/16/21	2/15/22	2/14/23	2/13/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	379.2	364.5	370	377	349	333.5	347.2	340	301.4	298.9	253.7	273	305.9	320.9	304.2
EBITDA ¹	126.1	109	116.6	95.34	95.08	77.73	93.5	91.79	72.78	46.23	32.36	56.23	70.45	68.27	58.81
EBIT ¹	102	84.8	93.14	71.68	72.33	57.02	75.61	73.03	55.44	29.29	16.86	29.06	46.82	51.44	48.42
Operating Margin	26.9%	23.27%	25.18%	19.01%	20.73%	17.09%	21.78%	21.48%	18.39%	9.8%	6.64%	10.64%	15.31%	16.03%	15.92%
Earnings before Tax (EBT) ¹	101.5	84.52	92.84	73.47	97.09	-80.04	83.29	81.61	67.82	42.15	29.47	41.62	57.66	62.73	60.42
Net income ¹	75.4	65.09	69.57	56.97	76.26	-92.9	60.14	62.32	54.99	41.43	22.2	31.3	44.61	48	45.34
Net margin	19.89%	17.86%	18.8%	15.11%	21.85%	-27.85%	17.32%	18.33%	18.25%	13.86%	8.75%	11.46%	14.58%	14.96%	14.9%
EPS ²	1.400	1.210	1.310	1.100	1.470	-1.910	1.260	1.310	1.160	0.8900	0.4800	0.6786	0.9729	1.049	0.9140
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/2/21	2/15/22	5/3/22	8/2/22	11/1/22	2/14/23	5/2/23	8/1/23	10/31/23	2/13/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	1,141	1,353	1,480	1,162	1,177	1,224	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	190	198	267	103	186	252	206	167
ROE (net income / shareholders' equity)	9.21%	6.39%	10.4%	8.05%	9.15%	6.8%	8.73%	8.46%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	44.60	48.50	51.80	49.60	52.10	56.10	61.90	67.80
Cash Flow per Share ²	6.010	5.310	7.230	4.180	6.260	3.350	4.720	-
Capex ¹	134	87.7	123	110	110	123	109	160
Capex / Sales	10.16%	7.3%	8.43%	7.7%	8.58%	10.5%	8.15%	11.22%
Announcement Date	2/13/20	2/16/21	2/15/22	2/14/23	2/13/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for IPG Photonics Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

88.4 USD

Average target price

108.4 USD

Spread / Average Target

+22.58%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Electronic Component

	1st Jan change	Capi.
IPG PHOTONICS CORPORATION	-18.56%	4.08B
AMPHENOL CORPORATION	+21.55%	72.28B
HON HAI PRECISION INDUSTRY CO., LTD.	+48.33%	65.86B
MURATA MANUFACTURING CO., LTD	-4.21%	34.41B
LUXSHARE PRECISION INDUSTRY CO., LTD.	-16.43%	28.52B
JABIL INC.	-7.17%	14.26B
AVIC JONHON OPTRONIC TECHNOLOGY CO.,LTD.	-13.03%	9.92B
LENS TECHNOLOGY CO., LTD.	+5.83%	9.52B
SUZHOU TFC OPTICAL COMMUNICATION CO., LTD.	+71.16%	8.54B
YAGEO CORPORATION	+3.02%	7.91B

Electronic Component