What is IPG Photonics's net debt / EBITDA?

IPG Photonics (IPGP) reported net debt / EBITDA of -6.5× in Q1 2026.

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

Over 3 years (2020 to 2025), IPG Photonics's net debt / EBITDA has grown at a 20.2% compound annual growth rate (CAGR), from -2.8× to -4.8×.

What does net debt / EBITDA mean?

Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.

IPG Photonics IPGP Net debt / EBITDA

Net debt / EBITDA at other companies

CoherentCOHR

3.4×-4.7×

MKS InstrumentsMKSI

3.8×-0.7×

Lumentum Holdings Inc.LITE

17×—

FabrinetFN

-0.7×-0.1×

MACOM Technology SolutionsMTSI

24.6×+22.2×

Veeco InstrumentsVECO

2×+0.7×

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×

Current ratio5.8×-1.5×

Where this comes from

Calculated from IPG Photonics’s reported figures.

net debt/ebitda=-6.5×

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 net debt / EBITDA?: IPG Photonics (IPGP) reported net debt / EBITDA of -6.5× in Q1 2026.
What is the long-term trend for IPG Photonics's net debt / EBITDA?: Over 3 years (2020 to 2025), IPG Photonics's net debt / EBITDA has grown at a 20.2% compound annual growth rate (CAGR), from -2.8× to -4.8×.
What does net debt / EBITDA mean?: Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.