What is IPG Photonics's current ratio?

IPG Photonics (IPGP) reported current ratio of 5.8× in Q1 2026.

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

IPG Photonics's current ratio decreased by 20.9% year-over-year, from 7.3× to 5.8×.

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

Over 5 years (2020 to 2025), IPG Photonics's current ratio has grown at a -9.5% compound annual growth rate (CAGR), from 10× to 6.1×.

What does current ratio mean?

Current assets divided by current liabilities at the quarter end. Measures the company's ability to cover near-term obligations with near-term assets.

IPG Photonics IPGP Current ratio

Current ratio at other companies

CoherentCOHR

3×+0.6×

MKS InstrumentsMKSI

1.1×-2.0×

Lumentum Holdings Inc.LITE

1.1×-3.6×

FabrinetFN

2.5×-0.8×

MACOM Technology SolutionsMTSI

7.5×+4.0×

Veeco InstrumentsVECO

4.2×-0.2×

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%

Enterprise value$4.54B+86.8%

P/E173.2×—

P/S4.8×+1.9×

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×

Where this comes from

Calculated from IPG Photonics’s reported figures.

total current assets/total current liabilities=5.8×

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 current ratio?: IPG Photonics (IPGP) reported current ratio of 5.8× in Q1 2026.
How has IPG Photonics's current ratio changed year-over-year?: IPG Photonics's current ratio decreased by 20.9% year-over-year, from 7.3× to 5.8×.
What is the long-term trend for IPG Photonics's current ratio?: Over 5 years (2020 to 2025), IPG Photonics's current ratio has grown at a -9.5% compound annual growth rate (CAGR), from 10× to 6.1×.
What does current ratio mean?: Current assets divided by current liabilities at the quarter end. Measures the company's ability to cover near-term obligations with near-term assets.