IPG Photonics (IPGP) FY2021 results: revenue $1.5 billion, up 21.7% on the year
IPG Photonics Corp. (IPGP) reported revenue of $1.5 billion for fiscal 2021, the year ended 31 December 2021, up 21.7% on the year before. Net income was $278 million, up 74.5%, and diluted earnings per share $5.16. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2022.
Revenue
$1.5 billion
+21.7% on the year
FY2014FY2021
Operating margin
25.2%
16.5% a year earlier
FY2014FY2021
Net income
$278 million
+74.5% on the year
FY2014FY2021
Diluted EPS
$5.16
+73.7% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
390
285
324
+36.6%
Capital expenditure
123
87.7
134
+40.4%
Free cash flow
267
198
190
+34.9%
Free cash flow margin
18.2%
16.5%
14.5%
Cash from investing
-416
-99.6
-140
Cash from financing
-125
-10.1
-37.1
Depreciation and amortisation
96.3
94.6
96.3
+1.9%
Share-based compensation
37.9
35.5
33.4
+6.7%
Buybacks
135
37.9
40.7
+256.1%
Diluted shares, weighted
54m
54m
54m
+0.3%
Shares outstanding at period end
53m
53m
53m
-0.8%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,747
2,593
2,402
+5.9%
Non-controlling interest
0.6
1.3
0.7
-50.5%
Debt
34.2
38.0
41.7
-10.0%
Operating lease liabilities
18.5
18.4
20.4
+0.4%
Other liabilities
371
285
266
+30.0%
Total liabilities and equity
3,171
2,936
2,730
+8.0%
Fixed assets
635
598
601
+6.3%
Goodwill
38.6
41.4
82.1
-6.7%
Intangible assets
52.7
62.1
74.3
-15.2%
Investments
805
515
503
+56.4%
Cash and equivalents
709
876
680
-19.1%
Receivables
262
264
238
-0.8%
Inventory
461
365
381
+26.2%
Other assets
207
214
171
-3.6%
Total assets
3,171
2,936
2,730
+8.0%
10-K for the year ended 31 December 2021, filed 22 February 2022: the filing.