IPGP FY 2019 Earnings Report — IPG Photonics Corporation Revenue & Financial Results | Market Cap Arena

IPG Photonics CorporationIPGP

FY 2019 Earnings

Reported February 24, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.5B	—	-10.0%
Op. Income	$234M	—	$523M	—	-55.3%
Gross Margin	46.1%	—	54.8%	—	-8.7pp
Net Margin	13.7%	—	27.7%	—	-14.0pp
EPS (Diluted)	$3.35	—	$7.38	—	-54.6%
Free Cash Flow	$190M	—	$233M	—	-18.4%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$708M
GROSS PROFIT	$606M
R&D Expenses	$130M
Selling & Marketing	$78M
General & Administrative	$108M
SG&A Expenses	$185M
Other Expenses	$57M
Operating Expenses	$372M
Cost & Expenses	$1.1B
OPERATING INCOME	$234M
Interest Income	$14M
Interest Expense	$0
Other Income/Expenses	$15M
INCOME BEFORE TAX	$248M
Income Tax Expense	$68M
Net Income from Continuing Ops	$180M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$180M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$180M
D&A	$96M
EBIT	$291M
EBITDA	$387M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$708M
GROSS PROFIT	$606M
R&D Expenses	$130M
Selling & Marketing	$78M
General & Administrative	$108M
SG&A Expenses	$185M
Other Expenses	$57M
Operating Expenses	$372M
Cost & Expenses	$1.1B
OPERATING INCOME	$234M
Interest Income	$14M
Interest Expense	$0
Other Income/Expenses	$15M
INCOME BEFORE TAX	$248M
Income Tax Expense	$68M
Net Income from Continuing Ops	$180M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$180M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$180M
D&A	$96M
EBIT	$291M
EBITDA	$387M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$180M
Depreciation & Amortization	$96M
Stock-Based Compensation	$33M
Deferred Income Tax	-$15M
Other Non-Cash Items	$121M
Change in Working Capital	-$91M
OPERATING CASH FLOW	$324M
Capital Expenditure	-$134M
Acquisitions (Net)	-$15M
Purchases of Investments	-$760M
Sales/Maturities of Investments	$768M
Other Investing Activities	$898.0K
NET CASH FROM INVESTING	-$140M
Net Debt Issuance	-$4M
Common Stock Repurchased	-$41M
Common Dividends Paid	$0
Other Financing Activities	$7M
NET CASH FROM FINANCING	-$37M
FREE CASH FLOW	$190M
Net Change in Cash	$139M

Balance Sheet

Item	Amount
Cash & Equivalents	$680M
Short-Term Investments	$503M
Net Receivables	$238M
Inventory	$381M
Other Current Assets	$56M
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$601M
Goodwill	$82M
Intangible Assets	$74M
Long-Term Investments	$0
Tax Assets	$31M
Other Non-Current Assets	$45M
TOTAL NON-CURRENT ASSETS	$834M
TOTAL ASSETS	$2.7B
Account Payables	$27M
Short-Term Debt	$4M
Deferred Revenue	$60M
Other Current Liabilities	$49M
TOTAL CURRENT LIABILITIES	$192M
Long-Term Debt	$38M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$98M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$136M
TOTAL LIABILITIES	$328M
Common Stock	$5.0K
Additional Paid-In Capital	$786M
Retained Earnings	$2.0B
Treasury Stock	-$266M
Accum. Other Comp. Income	-$147M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.4B
Minority Interest	$717.0K
TOTAL EQUITY	$2.4B
TOTAL LIABILITIES & EQUITY	$2.7B
Total Debt	$47M
Net Debt	-$633M