IPGP FY 2021 Earnings Report — IPG Photonics Corporation Revenue & Financial Results | Market Cap Arena

IPG Photonics CorporationIPGP

FY 2021 Earnings

Reported February 22, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$1.5B	—	$1.2B	—	21.7%
Op. Income	$368M	—	$199M	—	85.2%
Gross Margin	47.7%	—	44.9%	—	2.8pp
Net Margin	19.1%	—	13.3%	—	5.8pp
EPS (Diluted)	$5.16	—	$2.97	—	73.7%
Free Cash Flow	$267M	—	$198M	—	34.9%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$764M
GROSS PROFIT	$696M
R&D Expenses	$140M
Selling & Marketing	$78M
General & Administrative	$126M
SG&A Expenses	$204M
Other Expenses	-$15M
Operating Expenses	$329M
Cost & Expenses	$1.1B
OPERATING INCOME	$368M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$366M
Income Tax Expense	$89M
Net Income from Continuing Ops	$278M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$278M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$278M
D&A	$96M
EBIT	$353M
EBITDA	$449M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$764M
GROSS PROFIT	$696M
R&D Expenses	$140M
Selling & Marketing	$78M
General & Administrative	$126M
SG&A Expenses	$204M
Other Expenses	-$15M
Operating Expenses	$329M
Cost & Expenses	$1.1B
OPERATING INCOME	$368M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$366M
Income Tax Expense	$89M
Net Income from Continuing Ops	$278M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$278M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$278M
D&A	$96M
EBIT	$353M
EBITDA	$449M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$278M
Depreciation & Amortization	$96M
Stock-Based Compensation	$38M
Deferred Income Tax	-$7M
Other Non-Cash Items	$68M
Change in Working Capital	-$84M
OPERATING CASH FLOW	$390M
Capital Expenditure	-$123M
Acquisitions (Net)	$1M
Purchases of Investments	-$1.9B
Sales/Maturities of Investments	$1.6B
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$416M
Net Debt Issuance	-$4M
Common Stock Repurchased	-$135M
Common Dividends Paid	$0
Other Financing Activities	$14M
NET CASH FROM FINANCING	-$125M
FREE CASH FLOW	$267M
Net Change in Cash	-$169M

Balance Sheet

Item	Amount
Cash & Equivalents	$709M
Short-Term Investments	$805M
Net Receivables	$262M
Inventory	$461M
Other Current Assets	$73M
TOTAL CURRENT ASSETS	$2.3B
PP&E (Net)	$635M
Goodwill	$39M
Intangible Assets	$53M
Long-Term Investments	$0
Tax Assets	$48M
Other Non-Current Assets	$49M
TOTAL NON-CURRENT ASSETS	$823M
TOTAL ASSETS	$3.2B
Account Payables	$56M
Short-Term Debt	$18M
Deferred Revenue	$90M
Other Current Liabilities	$110M
TOTAL CURRENT LIABILITIES	$313M
Long-Term Debt	$16M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$74M
TOTAL NON-CURRENT LIABILITIES	$110M
TOTAL LIABILITIES	$423M
Common Stock	$6.0K
Additional Paid-In Capital	$908M
Retained Earnings	$2.5B
Treasury Stock	-$439M
Accum. Other Comp. Income	-$190M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.7B
Minority Interest	$639.0K
TOTAL EQUITY	$2.7B
TOTAL LIABILITIES & EQUITY	$3.2B
Total Debt	$58M
Net Debt	-$651M