IPGP FY 2020 Earnings Report — IPG Photonics Corporation Revenue & Financial Results | Market Cap Arena

IPG Photonics CorporationIPGP

FY 2020 Earnings

Reported February 22, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$1.2B	—	$1.3B	—	-8.7%
Op. Income	$199M	—	$234M	—	-15.0%
Gross Margin	44.9%	—	46.1%	—	-1.2pp
Net Margin	13.3%	—	13.7%	—	-0.4pp
EPS (Diluted)	$2.97	—	$3.35	—	-11.3%
Free Cash Flow	$198M	—	$190M	—	4.0%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$662M
GROSS PROFIT	$539M
R&D Expenses	$127M
Selling & Marketing	$71M
General & Administrative	$110M
SG&A Expenses	$181M
Other Expenses	$33M
Operating Expenses	$340M
Cost & Expenses	$1.0B
OPERATING INCOME	$199M
Interest Income	$6M
Interest Expense	$0
Other Income/Expenses	$7M
INCOME BEFORE TAX	$206M
Income Tax Expense	$45M
Net Income from Continuing Ops	$160M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$160M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$160M
D&A	$95M
EBIT	$232M
EBITDA	$326M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$662M
GROSS PROFIT	$539M
R&D Expenses	$127M
Selling & Marketing	$71M
General & Administrative	$110M
SG&A Expenses	$181M
Other Expenses	$33M
Operating Expenses	$340M
Cost & Expenses	$1.0B
OPERATING INCOME	$199M
Interest Income	$6M
Interest Expense	$0
Other Income/Expenses	$7M
INCOME BEFORE TAX	$206M
Income Tax Expense	$45M
Net Income from Continuing Ops	$160M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$160M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$160M
D&A	$95M
EBIT	$232M
EBITDA	$326M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$160M
Depreciation & Amortization	$95M
Stock-Based Compensation	$35M
Deferred Income Tax	-$13M
Other Non-Cash Items	$105M
Change in Working Capital	-$97M
OPERATING CASH FLOW	$285M
Capital Expenditure	-$88M
Acquisitions (Net)	-$429.0K
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$1.1B
Other Investing Activities	$882.0K
NET CASH FROM INVESTING	-$100M
Net Debt Issuance	-$4M
Common Stock Repurchased	-$38M
Common Dividends Paid	$0
Other Financing Activities	$32M
NET CASH FROM FINANCING	-$10M
FREE CASH FLOW	$198M
Net Change in Cash	$196M

Balance Sheet

Item	Amount
Cash & Equivalents	$876M
Short-Term Investments	$515M
Net Receivables	$264M
Inventory	$365M
Other Current Assets	$58M
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$598M
Goodwill	$41M
Intangible Assets	$62M
Long-Term Investments	$0
Tax Assets	$43M
Other Non-Current Assets	$43M
TOTAL NON-CURRENT ASSETS	$788M
TOTAL ASSETS	$2.9B
Account Payables	$26M
Short-Term Debt	$4M
Deferred Revenue	$71M
Other Current Liabilities	$63M
TOTAL CURRENT LIABILITIES	$215M
Long-Term Debt	$34M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$93M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$127M
TOTAL LIABILITIES	$342M
Common Stock	$6.0K
Additional Paid-In Capital	$854M
Retained Earnings	$2.2B
Treasury Stock	-$304M
Accum. Other Comp. Income	-$146M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.6B
Minority Interest	$1M
TOTAL EQUITY	$2.6B
TOTAL LIABILITIES & EQUITY	$2.9B
Total Debt	$44M
Net Debt	-$832M