What is IPG Photonics's net debt?

IPG Photonics (IPGP) reported net debt of -$464.45M in Q1 2026.

How has IPG Photonics's net debt changed year-over-year?

IPG Photonics's net debt decreased by 34.0% year-over-year, from -$346.73M to -$464.45M.

What is the long-term trend for IPG Photonics's net debt?

Over 5 years (2020 to 2025), IPG Photonics's net debt has grown at a -13.9% compound annual growth rate (CAGR), from -$816.36M to -$386.54M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

IPG Photonics IPGP Net debt

Discontinued — last reported Q1 '26

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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

See full

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.

$16.3Mtotal debt−$480.8Mcash and equivalents=-$464.45M

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 net debt?: IPG Photonics (IPGP) reported net debt of -$464.45M in Q1 2026.
How has IPG Photonics's net debt changed year-over-year?: IPG Photonics's net debt decreased by 34.0% year-over-year, from -$346.73M to -$464.45M.
What is the long-term trend for IPG Photonics's net debt?: Over 5 years (2020 to 2025), IPG Photonics's net debt has grown at a -13.9% compound annual growth rate (CAGR), from -$816.36M to -$386.54M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.