What is IPG Photonics's price / book?

IPG Photonics (IPGP) reported price / book of 2.3× in Q1 2026.

How has IPG Photonics's price / book changed year-over-year?

IPG Photonics's price / book increased by 75.3% year-over-year, from 1.3× to 2.3×.

What is the long-term trend for IPG Photonics's price / book?

Over 5 years (2020 to 2025), IPG Photonics's price / book has grown at a -21.0% compound annual growth rate (CAGR), from 4.6× to 1.4×.

What does price / book mean?

Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.

IPG Photonics IPGP Price / book

Price / book at other companies

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4.2×+2.3×

MKS InstrumentsMKSI

5.5×+3.2×

Lumentum Holdings Inc.LITE

16.9×+12.0×

FabrinetFN

8.1×+4.4×

MACOM Technology SolutionsMTSI

14.9×+8.4×

Veeco InstrumentsVECO

2.3×+0.9×

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.

market cap/total stockholders equity=2.3×

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 price / book?: IPG Photonics (IPGP) reported price / book of 2.3× in Q1 2026.
How has IPG Photonics's price / book changed year-over-year?: IPG Photonics's price / book increased by 75.3% year-over-year, from 1.3× to 2.3×.
What is the long-term trend for IPG Photonics's price / book?: Over 5 years (2020 to 2025), IPG Photonics's price / book has grown at a -21.0% compound annual growth rate (CAGR), from 4.6× to 1.4×.
What does price / book mean?: Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.