Ipg Photonics Corp
IPGP
Semiconductors & Related Devices
Mkt Cap
$3.816BPE
20.87Debt
-Cash
$496.5MEV
-FCF
$208.2MP/E Ratio
20.87Debt
-Cash
$496.5MEV
-FCF
$208.2MCharts data: {"Earnings":[{"time":"2014-12-30","value":200445000},{"time":"2015-12-30","value":242027000},{"time":"2016-12-30","value":260716000},{"time":"2017-12-30","value":347588000},{"time":"2018-12-30","value":404027000},{"time":"2019-12-30","value":180234000},{"time":"2020-12-30","value":159572000},{"time":"2021-12-30","value":277866000},{"time":"2022-12-30","value":109909000},{"time":"2023-12-30","value":218878000}],"Sales":[{"time":"2014-12-30","value":769832000},{"time":"2015-12-30","value":901265000},{"time":"2016-12-30","value":1006173000},{"time":"2017-12-30","value":1408889000},{"time":"2018-12-30","value":1459874000},{"time":"2019-12-30","value":1314581000},{"time":"2020-12-30","value":1200724000},{"time":"2021-12-30","value":1460860000},{"time":"2022-12-30","value":1429547000},{"time":"2023-12-30","value":1287439000}],"Net Margins":[{"time":"2014-12-30","value":0.26037499090710703},{"time":"2015-12-30","value":0.26854143897743726},{"time":"2016-12-30","value":0.2591164740059612},{"time":"2017-12-30","value":0.24671070609537019},{"time":"2018-12-30","value":0.27675470622807175},{"time":"2019-12-30","value":0.13710376157878443},{"time":"2020-12-30","value":0.13289648578690857},{"time":"2021-12-30","value":0.19020713826102434},{"time":"2022-12-30","value":0.07688379605567358},{"time":"2023-12-30","value":0.1700103849580446}],"Assets":[{"time":"2014-12-30","value":1210887000},{"time":"2015-12-30","value":1453429000},{"time":"2016-12-30","value":1789999000},{"time":"2017-12-30","value":2367255000},{"time":"2018-12-30","value":2574450000},{"time":"2019-12-30","value":2730436000},{"time":"2020-12-30","value":2935700000},{"time":"2021-12-30","value":3170540000},{"time":"2022-12-30","value":2743280000},{"time":"2023-12-30","value":2698898000}],"Stockholders Equity":[{"time":"2014-12-30","value":1046561000},{"time":"2015-12-30","value":1260665000},{"time":"2016-12-30","value":1557724000},{"time":"2017-12-30","value":2022322000},{"time":"2018-12-30","value":2206235000},{"time":"2019-12-30","value":2402443000},{"time":"2020-12-30","value":2594111000},{"time":"2021-12-30","value":2747221000},{"time":"2022-12-30","value":2385360000},{"time":"2023-12-30","value":2415385000}],"ROE":[{"time":"2014-12-30","value":0.19152729750105346},{"time":"2015-12-30","value":0.19198359595927547},{"time":"2016-12-30","value":0.16736982931507763},{"time":"2017-12-30","value":0.17187569536404193},{"time":"2018-12-30","value":0.18312963034309582},{"time":"2019-12-30","value":0.07502113473659937},{"time":"2020-12-30","value":0.061513173491805094},{"time":"2021-12-30","value":0.10114439282460348},{"time":"2022-12-30","value":0.04607648321427374},{"time":"2023-12-30","value":0.09061826582511691}],"ROA":[{"time":"2014-12-30","value":0.23486667211721654},{"time":"2015-12-30","value":0.2353351969721259},{"time":"2016-12-30","value":0.20551352263325287},{"time":"2017-12-30","value":0.2334383072377078},{"time":"2018-12-30","value":0.21109440851443997},{"time":"2019-12-30","value":0.0961802437412926},{"time":"2020-12-30","value":0.07220151922880404},{"time":"2021-12-30","value":0.11603165391384433},{"time":"2022-12-30","value":0.06683641480271792},{"time":"2023-12-30","value":0.10184712427072086}]}
IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories. It also provides erbium-doped fiber and Raman amplifiers, and integrated communications systems, which are deployed in broadband networks; and ytterbium and thulium specialty fiber amplifiers and broadband light sources. In addition, the company offers integrated laser systems; 2D compact flat sheet cutter systems and multi-axis systems; welding seam stepper and picker, a fiber laser welding tool; high precision laser systems; specialized fiber laser systems; and optical transceiver and transponder modules for data center, optical, and communications network of oil and gas utilities. Its laser solutions are also used in materials processing, communications, and medical and advanced applications. The company markets its products to original equipment manufacturers, system integrators, and end users through direct sales force, as well as through agreements with independent sales representatives and distributors. IPG Photonics Corporation was founded in 1990 and is headquartered in Oxford, Massachusetts.
Sector
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DCF
Discounted Cash Flow Valuation of Ipg Photonics Corp
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $208.2M | $204.3M | $200.5M | $196.8M | $193.2M | $189.6M | $186.1M | $182.7M | $179.3M | $176M | $172.7M | $1.727B |
| DCF | $177.7M | $151.6M | $129.4M | $110.5M | $94.28M | $80.47M | $68.68M | $58.62M | $50.03M | $42.7M | $427M | |
| Value | $1.391B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth -8%
Earnings Stability 27%
Competitiveness and MOAT
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 27% | 26% | 25% | 28% | 14% | 13% | 19% | 7.7% | 17% | 15% |
| ROA | 24% | 21% | 23% | 21% | 9.6% | 7.2% | 12% | 6.7% | 10% | 8.7% |
| ROE | 19% | 17% | 17% | 18% | 7.5% | 6.2% | 10% | 4.6% | 9.1% | 7.8% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +16.4%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is -1.88%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +11.07%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is -1.69%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +9.29%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is -1.46%.
Safety & Stabiliy
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | 0.11 | 0.25 | 0.18 | 0.21 | 0.24 | 0.21 | 0.20 | 0.31 | 0.00 | - |
| Debt Equity | 0.02 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | 0.00 | - |
| MIN | ||||||||||
| Graham Stability | - | - | 100% | 100% | 53% | 51% | 100% | 53% | 100% | 51% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is -.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is -0.02.
What is the Graham’s Stability?
Graham’s Stability measure stands at 0.51.
Growth
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
| Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 3.6% | -2.5% | 2.4% | -9.9% | -3.3% |
| Net Income | -2.5% | -12% | 11% | 99% | 2.7% |
| Stockholders Equity | 6.5% | 1.8% | -2.4% | 1.3% | -3.9% |
| FCF | 1.7% | -4.5% | -2.1% | 81% | -4.8% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is -2.48%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is -3.31%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is -11.54%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is +2.72%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is +1.83%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is -3.93%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is -4.45%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is -4.82%.