IPGP FY 2023 Earnings Report — IPG Photonics Corporation Revenue & Financial Results | Market Cap Arena

IPG Photonics CorporationIPGP

FY 2023 Earnings

Reported February 21, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.3B	—	—	—	—
Op. Income	$232M	—	—	—	—
Gross Margin	42.1%	—	—	—	—
Net Margin	17.0%	—	—	—	—
EPS (Diluted)	$4.63	—	—	—	—
Free Cash Flow	$186M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$746M
GROSS PROFIT	$542M
R&D Expenses	$99M
Selling & Marketing	$86M
General & Administrative	$126M
SG&A Expenses	$211M
Other Expenses	-$407.0K
Operating Expenses	$310M
Cost & Expenses	$1.1B
OPERATING INCOME	$232M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$43M
INCOME BEFORE TAX	$275M
Income Tax Expense	$56M
Net Income from Continuing Ops	$219M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$219M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$219M
D&A	$70M
EBIT	$232M
EBITDA	$301M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$746M
GROSS PROFIT	$542M
R&D Expenses	$99M
Selling & Marketing	$86M
General & Administrative	$126M
SG&A Expenses	$211M
Other Expenses	-$407.0K
Operating Expenses	$310M
Cost & Expenses	$1.1B
OPERATING INCOME	$232M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$43M
INCOME BEFORE TAX	$275M
Income Tax Expense	$56M
Net Income from Continuing Ops	$219M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$219M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$219M
D&A	$70M
EBIT	$232M
EBITDA	$301M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$219M
Depreciation & Amortization	$70M
Stock-Based Compensation	$40M
Deferred Income Tax	-$14M
Other Non-Cash Items	$36M
Change in Working Capital	-$55M
OPERATING CASH FLOW	$296M
Capital Expenditure	-$110M
Acquisitions (Net)	$0
Purchases of Investments	-$1.2B
Sales/Maturities of Investments	$1.1B
Other Investing Activities	$32M
NET CASH FROM INVESTING	-$238M
Net Debt Issuance	-$16M
Common Stock Repurchased	-$223M
Common Dividends Paid	$0
Other Financing Activities	$3M
NET CASH FROM FINANCING	-$236M
FREE CASH FLOW	$186M
Net Change in Cash	-$184M

Balance Sheet

Item	Amount
Cash & Equivalents	$515M
Short-Term Investments	$663M
Net Receivables	$219M
Inventory	$454M
Other Current Assets	$38M
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$602M
Goodwill	$39M
Intangible Assets	$26M
Long-Term Investments	$0
Tax Assets	$89M
Other Non-Current Assets	$28M
TOTAL NON-CURRENT ASSETS	$784M
TOTAL ASSETS	$2.7B
Account Payables	$29M
Short-Term Debt	$0
Deferred Revenue	$69M
Other Current Liabilities	$80M
TOTAL CURRENT LIABILITIES	$215M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$53M
TOTAL NON-CURRENT LIABILITIES	$69M
TOTAL LIABILITIES	$284M
Common Stock	$6.0K
Additional Paid-In Capital	$994M
Retained Earnings	$2.8B
Treasury Stock	-$1.2B
Accum. Other Comp. Income	-$213M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.4B
Minority Interest	$0
TOTAL EQUITY	$2.4B
TOTAL LIABILITIES & EQUITY	$2.7B
Total Debt	$18M
Net Debt	-$496M