Which has the lower trailing P/E, IPGP or VECO?

IPGP has the lower trailing P/E: IPGP trades at 129.00 and VECO at 153.60. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, IPGP or VECO?

Over the past five years, VECO grew revenue faster — IPGP at a -4.87% CAGR versus VECO at 5.15%.

Is IPGP or VECO more profitable?

VECO runs the higher net margin — IPGP at 2.58% versus VECO at 3.40%.

How have IPGP and VECO total returns compared?

Over the past 10 years, IPGP delivered 0.03% and VECO delivered 10.41% annualized total return. Past performance doesn't predict future results.

IPG Photonics Corporation (IPGP) vs Veeco Instruments Inc. (VECO)

A side-by-side comparison of IPG Photonics Corporation and Veeco Instruments Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 6, 2026. Differences are shown without an overall score or investment verdict.

IPGP

IPG Photonics Corporation

$3.56B

$83.85TechnologyDelayed quote: Oct 6, 2026, 3:55 PM EDT

VECO

Veeco Instruments Inc.

$3.40B

$55.71TechnologyDelayed quote: Oct 6, 2026, 3:55 PM EDT

Total return — IPGP vs VECO

growth of $100 · dividends reinvested · last 10y

IPGP -1.6% (-0.2%/yr)VECO +190.7% (+11.3%/yr)VECO compounded faster over this window

IPGP VECO

IPGP vs VECO: by the numbers

•IPGP is the larger company ($3.56B vs $3.40B market cap).
•IPGP trades at the lower trailing earnings multiple (129.00 vs 153.60 P/E), one valuation lens rather than an overall verdict.
•VECO converts more revenue to profit (3.40% vs 2.58% net margin).
•VECO grew revenue faster over the past five years (5.15% vs -4.87% CAGR).

Metrics side by side

Valuation

Metric	IPGP	VECO
P/E ratio	129.00	153.60
Forward P/E	75.97	N/A
P/S ratio	3.33	4.98
P/B ratio	1.67	3.77
EV / EBITDA	34.92	72.95
FCF yield	0.58%	2.50%

Profitability

Metric	IPGP	VECO
Gross margin	38.35%	37.81%
Operating margin	0.74%	3.26%
Net margin	2.58%	3.40%
ROE	1.30%	2.57%
ROIC	0.25%	1.89%

Growth (annualized)

Metric	IPGP	VECO
Revenue CAGR (5Y)	-4.87%	5.15%
EPS CAGR (5Y)	-24.63%	N/A
FCF CAGR (5Y)	-39.36%	21.42%
Total return CAGR (5Y)	-11.49%	20.05%

Frequently asked

Which has the lower trailing P/E, IPGP or VECO?: IPGP has the lower trailing P/E: IPGP trades at 129.00 and VECO at 153.60. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, IPGP or VECO?: Over the past five years, VECO grew revenue faster — IPGP at a -4.87% CAGR versus VECO at 5.15%.
Is IPGP or VECO more profitable?: VECO runs the higher net margin — IPGP at 2.58% versus VECO at 3.40%.
How have IPGP and VECO total returns compared?: Over the past 10 years, IPGP delivered 0.03% and VECO delivered 10.41% annualized total return. Past performance doesn't predict future results.

Go deeper

Full IPGP analysis Full VECO analysis Interactive comparison tool

Dig into the metrics

IPG Photonics P/E ratio Veeco Instruments P/E ratio IPG Photonics ROE Veeco Instruments ROE IPG Photonics operating margin Veeco Instruments operating margin IPG Photonics revenue growth Veeco Instruments revenue growth IPG Photonics free cash flow Veeco Instruments free cash flow

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 6, 2026.