What is IPG Photonics's cash ratio?

IPG Photonics (IPGP) reported cash ratio of 1.9× in Q1 2026.

How has IPG Photonics's cash ratio changed year-over-year?

IPG Photonics's cash ratio increased by 5.6% year-over-year, from 1.8× to 1.9×.

What is the long-term trend for IPG Photonics's cash ratio?

Over 5 years (2020 to 2025), IPG Photonics's cash ratio has grown at a -15.9% compound annual growth rate (CAGR), from 4.1× to 1.7×.

What does cash ratio mean?

Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.

IPG Photonics IPGP Cash ratio

Cash ratio at other companies

CoherentCOHR

1.1×0.0×

MKS InstrumentsMKSI

0.2×-0.6×

Lumentum Holdings Inc.LITE

0.1×-0.9×

FabrinetFN

0.3×-0.1×

MACOM Technology SolutionsMTSI

0.7×+0.3×

Veeco InstrumentsVECO

0.9×-0.1×

Other financials

Income statement

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Revenue$265.5M+16.6%

Gross profit$99.5M+10.8%

Operating income-$7.7M-523%

Net income$1.6M-57.8%

EPS (diluted)$0.04-55.6%

Balance sheet

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Cash & equivalents$480.8M+32.4%

Total debt$16.3M0.0%

Total equity$2.1B+2.7%

Total assets$2.4B+4.5%

Cash flow

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Operating cash flow-$5.5M-141%

CapEx$16.3M-34.3%

Free cash flow-$21.8M-91.5%

Valuation

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Market cap$5.01B+80.0%

Profitability

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Gross margin37.6%+2.9pp

Operating margin0.3%+0.2pp

Net margin2.8%+1.5pp

FCF margin6.8%-10.9pp

Returns & leverage

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Return on equity1.4%+0.7pp

Debt / equity0×0.0×

Current ratio5.8×-1.5×

Where this comes from

Calculated from IPG Photonics’s reported figures.

cash and equivalents/total current liabilities=1.9×

Based on the most recent quarter.

The official record: IPG Photonics’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is IPG Photonics's cash ratio?: IPG Photonics (IPGP) reported cash ratio of 1.9× in Q1 2026.
How has IPG Photonics's cash ratio changed year-over-year?: IPG Photonics's cash ratio increased by 5.6% year-over-year, from 1.8× to 1.9×.
What is the long-term trend for IPG Photonics's cash ratio?: Over 5 years (2020 to 2025), IPG Photonics's cash ratio has grown at a -15.9% compound annual growth rate (CAGR), from 4.1× to 1.7×.
What does cash ratio mean?: Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.