IPG Photonics Stock: Just Going Through The Motions (NASDAQ:IPGP)


The fiber laser cutting machine cutting machine cut the metal plate.

Phuchit

The Q3 FY2023 report from IPG Photonics Corporation (NASDAQ:IPGP) arrived just in time on October 31 to stem the slide in the stock. The stock was in the midst of a major decline that wiped out all of

(GAAP)

Q4 FY2023 (guidance)

Q4 FY2022

YoY (midpoint)

Revenue

$270-300M

$333.5M

(14.54%)

EPS

$0.80-1.10

($1.91)

(Unit: $1000, except EPS, margins and shares)

(GAAP)

Q3 FY2023

Q2 FY2023

Q3 FY2022

QoQ

YoY

Net sales

301,401

339,971

349,006

(11.35%)

(13.64%)

Gross margin

44.1%

43.4%

43.1%

70bps

100bps

Operating margin

18.5%

21.2%

26.7%

(270bps)

(820bps)

Operating expenses

77,196

75,628

57,262

2.07%

34.81%

Operating income

55,706

72,063

93,162

(22.70%)

(40.21%)

Net income (attributable to IPGP)

54,994

62,321

76,264

(11.76%)

(27.89%)

EPS

1.16

1.31

1.47

(11.45%)

(21.09%)

Weighted-average shares outstanding

47,388K

47,453K

51,737K

(0.14%)

(8.41%)

IPGP

5-years average

Market cap

$4.31B

Enterprise value

$3.19B

Revenue (“ttm”)

$1,322.1M

EBITDA

$258.6M

Trailing GAAP P/E

52.05

42.91

Forward GAAP P/E

19.59

32.24

PEG GAAP

N/A

N/A

P/S

3.31

5.68

P/B

1.81

3.03

EV/sales

2.41

4.76

Trailing EV/EBITDA

12.34

16.56

Forward EV/EBITDA

9.74

15.59



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