IPG Photonics Corporation (IPGP) Financial Statements (2024 and earlier)

Company Profile

Business Address 377 SIMARANO DRIVE
MARLBOROUGH, MA 01752
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3674 - Semiconductors and Related Devices (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,096,4121,069,6101,177,5831,234,6831,234,6531,416,678
Cash and cash equivalents573,071521,137698,209869,274771,788642,517
Short-term investments523,341548,473479,374365,409462,865774,161
Receivables281,873283,629252,281244,690299,789298,352
Inventory, net of allowances, customer advances and progress billings491,301506,149509,363555,537556,747484,971
Inventory491,301506,149509,363555,537556,747484,971
Contract with customer, asset, after allowance for credit loss17,46013,8068,6208,99510,8969,842
Other undisclosed current assets37,02242,39338,42775,18268,76672,991
Total current assets:1,924,0681,915,5871,986,2742,119,0872,170,8512,282,834
Noncurrent Assets
Property, plant and equipment609,344594,273580,561661,510680,321625,366
Intangible assets, net (including goodwill)68,58070,49272,44574,13486,15189,758
Goodwill38,49438,38838,32537,96339,28539,741
Intangible assets, net (excluding goodwill)30,08632,10434,12036,17146,86650,017
Deferred income tax assets69,64459,08975,15269,32360,56349,942
Other noncurrent assets24,78131,71528,84838,46650,88350,569
Total noncurrent assets:772,349755,569757,006843,433877,918815,635
TOTAL ASSETS:2,696,4172,671,1562,743,2802,962,5203,048,7693,098,469
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities221,574230,688248,997352,784358,889262,377
Taxes payable24,75215,58812,317
Employee-related liabilities73,32475,212
Accounts payable37,41840,90246,23355,07257,27646,481
Accrued liabilities184,156189,786202,764199,636210,813203,579
Debt  15,73416,03116,32832,22517,459
Other undisclosed current liabilities6,6133,1009,618(73,324)(75,212) 
Total current liabilities:228,187249,522274,646295,788315,902279,836
Noncurrent Liabilities
Long-term debt and lease obligation      15,734
Long-term debt, excluding current maturities      15,734
Liabilities, other than long-term debt56,60961,19761,59725,88926,64726,301
Accounts payable and accrued liabilities23,20625,02624,35823,17823,91923,531
Deferred revenue3,0543,0203,1422,7112,7282,770
Deferred income tax liabilities1,4771,4771,469   
Liability for uncertainty in income taxes15,03615,80515,841   
Operating lease, liability13,83615,86916,787   
Other undisclosed noncurrent liabilities13,07121,91221,67760,33465,86968,349
Total noncurrent liabilities:69,68083,10983,27486,22392,516110,384
Total liabilities:297,867332,631357,920382,011408,418390,220
Equity
Equity, attributable to parent2,398,5502,338,5252,385,3602,580,5092,639,2162,707,249
Common stock666666
Treasury stock, value(1,051,040)(1,051,103)(938,009)(821,388)(750,109)(517,260)
Additional paid in capital969,889957,103951,371939,040930,950917,693
Accumulated other comprehensive loss(219,277)(204,132)(204,524)(206,560)(134,778)(229,369)
Retained earnings2,698,9722,636,6512,576,5162,669,4112,593,1472,536,179
Equity, attributable to noncontrolling interest     1,1351,000
Total equity:2,398,5502,338,5252,385,3602,580,5092,640,3512,708,249
TOTAL LIABILITIES AND EQUITY:2,696,4172,671,1562,743,2802,962,5203,048,7693,098,469

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues339,971347,174333,539349,006377,023369,979
Cost of revenue(192,280)(200,236)(272,715)(198,582)(204,679)(198,158)
Cost of goods and services sold(11,218)(12,096)(89,597)(12,883)(14,700)(10,781)
Gross profit:147,691146,93860,824150,424172,344171,821
Operating expenses(75,628)(71,512)(149,304)(57,262)(100,669)(78,678)
Operating income (loss):72,06375,426(88,480)93,16271,67593,143
Nonoperating income (expense)9,5497,8648,4363,9261,795(306)
Other nonoperating income (expense)285331548301618(236)
Income (loss) from continuing operations before income taxes:81,61283,290(80,044)97,08873,47092,837
Income tax expense(19,291)(23,155)(12,851)(20,390)(16,139)(23,209)
Income (loss) from continuing operations:62,32160,135(92,895)76,69857,33169,628
Income before gain (loss) on sale of properties:76,69857,33169,628
Net income (loss):62,32160,135(92,895)76,69857,33169,628
Net loss attributable to noncontrolling interest    (434)(363)(56)
Net income (loss) available to common stockholders, diluted:62,32160,135(92,895)76,26456,96869,572

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):62,32160,135(92,895)76,69857,33169,628
Other comprehensive income (loss)(15,145)3922,036(71,788)94,363(39,113)
Comprehensive income (loss):47,17660,527(90,859)4,910151,69430,515
Comprehensive loss, net of tax, attributable to noncontrolling interest    (428)(135)(361)
Comprehensive income (loss), net of tax, attributable to parent:47,17660,527(90,859)4,482151,55930,154

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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