ESAB Corp Financials

ESAB

Source SEC Filings (10-K/10-Q) Updated Feb 20, 2026 Currency USD FYE February

This page shows ESAB Corp (ESAB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 50/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

ESAB Corp has an operating margin of 14.5%, meaning the company retains $14 of operating profit per $100 of revenue. This strong profitability earns a score of 72/100, reflecting efficient cost management and pricing power. This is down from 16.3% the prior year.

Growth

ESAB Corp's revenue declined 99.9% year-over-year, from $2.7B to $2.8M. This contraction results in a growth score of 0/100.

Leverage

ESAB Corp carries a low D/E ratio of 0.57, meaning only $0.57 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

ESAB Corp's current ratio of 1.90 indicates adequate short-term liquidity, earning a score of 56/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

ESAB Corp has a free cash flow margin of 7.5%, earning a moderate score of 37/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

ESAB Corp's ROE of 10.5% shows moderate profitability relative to equity, earning a score of 42/100. This is down from 15.0% the prior year.

Altman Z-Score Safe

1902.02

ESAB Corp scores 1902.02, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($8.1B) relative to total liabilities ($2.6M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral

5/9

ESAB Corp passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.15x

For every $1 of reported earnings, ESAB Corp generates $1.15 in operating cash flow ($261K OCF vs $227K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

Export CSV

Revenue

$2.8M

YoY-99.9%

5Y CAGR-72.9%

ESAB Corp generated $2.8M in revenue in fiscal year 2025. This represents a decrease of 99.9% from the prior year.

EBITDA

$446K

YoY-99.9%

5Y CAGR-72.4%

ESAB Corp's EBITDA was $446K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 99.9% from the prior year.

Free Cash Flow

$213K

YoY-99.9%

5Y CAGR-76.0%

ESAB Corp generated $213K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 99.9% from the prior year.

Net Income

$227K

YoY-99.9%

5Y CAGR-73.0%

ESAB Corp reported $227K in net income in fiscal year 2025. This represents a decrease of 99.9% from the prior year.

EPS (Diluted)

$3.67

YoY-14.8%

ESAB Corp earned $3.67 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 14.8% from the prior year.

Cash & Debt

$186K

YoY-99.9%

5Y CAGR-67.2%

ESAB Corp held $186K in cash against $1.2M in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.23

YoY-23.3%

ESAB Corp paid $0.23 per share in dividends in fiscal year 2025. This represents a decrease of 23.3% from the prior year.

Shares Outstanding

61M

YoY+0.3%

ESAB Corp had 61M shares outstanding in fiscal year 2025. This represents an increase of 0.3% from the prior year.

Gross Margin

36.9%

YoY-1.0pp

5Y CAGR+1.9pp

ESAB Corp's gross margin was 36.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.0 percentage points from the prior year.

Operating Margin

14.5%

YoY-1.8pp

5Y CAGR+4.1pp

ESAB Corp's operating margin was 14.5% in fiscal year 2025, reflecting core business profitability. This is down 1.8 percentage points from the prior year.

Net Margin

8.0%

YoY-1.7pp

5Y CAGR-0.1pp

ESAB Corp's net profit margin was 8.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.7 percentage points from the prior year.

Return on Equity

10.5%

YoY-4.5pp

5Y CAGR+4.3pp

ESAB Corp's ROE was 10.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.5 percentage points from the prior year.

R&D Spending

$44

YoY-100.0%

5Y CAGR-93.4%

ESAB Corp invested $44 in research and development in fiscal year 2025. This represents a decrease of 100.0% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$47K

YoY-99.9%

5Y CAGR-74.0%

ESAB Corp invested $47K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 99.9% from the prior year.

ESAB Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$2.8M-99.9%	$2.7B-1.2%	$2.8B+7.0%	$2.6B+6.8%	$2.4B+24.5%	$2.0B
Cost of Revenue	$1.8M-99.9%	$1.7B-3.2%	$1.8B+3.0%	$1.7B+7.4%	$1.6B+25.4%	$1.3B
Gross Profit	$1.0M-99.9%	$1.0B+2.1%	$1.0B+14.7%	$885.5M+5.7%	$838.0M+22.8%	$682.5M
R&D Expenses	$44-100.0%	$39.2M+1.0%	$38.8M+7.8%	$36.0M-9.3%	$39.7M+14.1%	$34.8M
SG&A Expenses	$608K-99.9%	$579.8M-1.3%	$587.5M+10.1%	$533.4M+4.0%	$512.8M+11.8%	$458.7M
Operating Income	$412K-99.9%	$447.4M+10.7%	$404.2M+22.8%	$329.1M+7.5%	$306.2M+51.5%	$202.1M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$69K-99.9%	$77.3M-19.2%	$95.7M+38.4%	$69.2M-14.0%	$80.4M+74.9%	$46.0M
Net Income	$227K-99.9%	$264.8M+29.0%	$205.3M-8.3%	$223.7M-4.8%	$235.1M+49.4%	$157.4M
EPS (Diluted)	$3.67-14.8%	$4.31+28.3%	$3.36-8.9%	$3.69	$3.92+49.6%	$2.62

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$727.8M+1.7%	$715.6M+5.5%	$678.1M+1.1%	$670.8M-5.1%	$707.1M+2.5%	$689.7M+0.1%	$689.3M+1.2%	$681.0M
Cost of Revenue	$458.5M+2.0%	$449.5M+6.3%	$422.9M+2.5%	$412.4M-5.6%	$436.7M+0.5%	$434.7M0.0%	$434.6M+0.8%	$431.3M
Gross Profit	$269.3M+1.2%	$266.0M+4.2%	$255.2M-1.2%	$258.3M-4.4%	$270.3M+6.0%	$255.0M+0.1%	$254.7M+2.0%	$249.7M
R&D Expenses	$10.5M0.0%	$10.5M+4.0%	$10.1M-1.0%	$10.2M+5.2%	$9.7M-4.0%	$10.1M-5.6%	$10.7M+18.9%	$9.0M
SG&A Expenses	$158.3M+1.8%	$155.6M+10.4%	$140.9M-3.0%	$145.2M-0.6%	$146.2M+2.6%	$142.4M-1.5%	$144.6M-0.6%	$145.4M
Operating Income	$106.6M-2.3%	$109.1M-0.7%	$109.8M-1.4%	$111.4M-6.6%	$119.4M+7.9%	$110.7M+6.7%	$103.7M+2.5%	$101.1M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$17.7M-3.2%	$18.3M-10.8%	$20.5M-10.4%	$22.9M+28.0%	$17.9M-3.3%	$18.5M+3.3%	$17.9M-9.5%	$19.8M
Net Income	$54.8M-18.0%	$66.9M-0.7%	$67.4M+25.3%	$53.7M-35.2%	$82.9M+38.3%	$60.0M+19.3%	$50.2M-12.7%	$57.6M
EPS (Diluted)	$0.90-17.4%	$1.09-0.9%	$1.10+26.4%	$0.87-35.6%	$1.35+37.8%	$0.98+18.1%	$0.83-11.7%	$0.94

ESAB Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$4.8M-99.9%	$4.0B+5.4%	$3.8B+2.0%	$3.8B+8.5%	$3.5B	N/A
Current Assets	$1.3M-99.9%	$1.1B+15.1%	$997.7M+0.9%	$988.7M+2.6%	$964.1M	N/A
Cash & Equivalents	$186K-99.9%	$249.4M+144.5%	$102.0M+41.6%	$72.0M+74.8%	$41.2M-16.3%	$49.2M
Inventory	$482K-99.9%	$403.7M+2.8%	$392.9M-5.8%	$416.8M-0.8%	$420.1M	N/A
Accounts Receivable	$451K-99.9%	$370.3M-3.9%	$385.2M+2.9%	$374.3M-2.4%	$383.5M	N/A
Goodwill	$1.9M-99.9%	$1.7B+4.0%	$1.6B+3.8%	$1.5B-0.2%	$1.5B-1.3%	$1.6B
Total Liabilities	$2.6M-99.9%	$2.2B+2.1%	$2.2B-7.8%	$2.4B+146.5%	$959.5M	N/A
Current Liabilities	$665K-99.9%	$632.1M+1.9%	$620.1M+3.1%	$601.6M+0.8%	$596.6M	N/A
Long-Term Debt	$1.2M-99.9%	$1.1B+4.2%	$1.0B-16.5%	$1.2B	$0	N/A
Total Equity	$2.2M-99.9%	$1.8B+10.1%	$1.6B+19.0%	$1.4B-45.1%	$2.5B-3.3%	$2.5B
Retained Earnings	$801K-99.9%	$597.2M+70.4%	$350.6M+120.2%	$159.2M	$0	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$4.9B+9.9%	$4.4B+5.1%	$4.2B+4.6%	$4.0B+1.7%	$4.0B+3.6%	$3.8B0.0%	$3.8B+1.9%	$3.8B
Current Assets	$1.3B-0.2%	$1.3B+3.9%	$1.3B+12.0%	$1.1B-5.3%	$1.2B+16.3%	$1.0B+4.5%	$997.7M-3.1%	$1.0B
Cash & Equivalents	$218.2M-15.5%	$258.2M-11.4%	$291.3M+16.8%	$249.4M+9.1%	$228.5M+198.7%	$76.5M-25.0%	$102.0M+23.1%	$82.8M
Inventory	$503.7M+6.2%	$474.1M+5.2%	$450.7M+11.6%	$403.7M-5.3%	$426.5M+5.2%	$405.6M+3.2%	$392.9M-7.7%	$425.7M
Accounts Receivable	$460.5M+1.0%	$456.1M+10.0%	$414.8M+12.0%	$370.3M-14.1%	$431.2M+0.2%	$430.1M+11.7%	$385.2M-0.8%	$388.5M
Goodwill	$2.0B+9.6%	$1.8B+6.2%	$1.7B+2.0%	$1.7B+4.3%	$1.6B-0.2%	$1.6B-0.1%	$1.6B+2.2%	$1.6B
Total Liabilities	$2.7B+16.7%	$2.3B+2.4%	$2.3B+1.9%	$2.2B+0.4%	$2.2B+3.4%	$2.1B-1.6%	$2.2B-1.5%	$2.2B
Current Liabilities	$669.1M-2.5%	$686.5M+2.2%	$672.0M+6.3%	$632.1M-2.9%	$651.1M+3.1%	$631.3M+1.8%	$620.1M+1.6%	$610.4M
Long-Term Debt	$1.3B+26.0%	$1.1B+0.2%	$1.1B-0.4%	$1.1B-1.7%	$1.1B+8.7%	$992.8M-2.5%	$1.0B-6.5%	$1.1B
Total Equity	$2.1B+2.2%	$2.1B+8.4%	$1.9B+8.0%	$1.8B+3.6%	$1.7B+4.1%	$1.6B+2.1%	$1.6B+7.1%	$1.5B
Retained Earnings	$769.2M+6.8%	$720.5M+9.2%	$659.7M+10.5%	$597.2M+23.2%	$484.9M+19.2%	$406.9M+16.1%	$350.6M+15.3%	$304.0M

ESAB Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$261K-99.9%	$355.4M+7.5%	$330.5M+54.2%	$214.4M-14.5%	$250.7M-18.9%	$309.2M
Capital Expenditures	$47K-99.9%	$51.8M+7.5%	$48.2M+19.7%	$40.2M+13.1%	$35.6M-11.3%	$40.1M
Free Cash Flow	$213K-99.9%	$303.6M+7.5%	$282.3M+62.1%	$174.1M-19.1%	$215.2M-20.0%	$269.0M
Investing Cash Flow	$480K+100.2%	-$205.7M-230.5%	-$62.2M+66.2%	-$184.4M-423.0%	-$35.3M-2.0%	-$34.6M
Financing Cash Flow	$114K-99.6%	$31.7M+114.4%	-$219.7M-3007.5%	$7.6M+103.4%	-$221.6M+32.1%	-$326.4M
Dividends Paid	$22K-99.9%	$17.0M+27.4%	$13.3M+120.4%	$6.1M	$0	$0
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$81.5M+74.7%	$46.6M+31.7%	$35.4M-72.1%	$126.9M+52.8%	$83.0M+86.7%	$44.5M-63.7%	$122.4M+14.0%	$107.4M
Capital Expenditures	$11.2M+21.8%	$9.2M+25.9%	$7.3M-70.5%	$24.7M+173.8%	$9.0M+21.7%	$7.4M-61.6%	$19.3M+62.8%	$11.9M
Free Cash Flow	$70.3M+87.7%	$37.4M+33.2%	$28.1M-72.5%	$102.2M+38.1%	$74.0M+99.7%	$37.1M-64.1%	$103.1M+7.9%	$95.5M
Investing Cash Flow	-$363.6M-279.5%	-$95.8M-3462.8%	-$2.7M+97.1%	-$91.5M-786.1%	-$10.3M+61.2%	-$26.6M-33.8%	-$19.9M-119.4%	-$9.1M
Financing Cash Flow	$246.9M+3882.3%	-$6.5M+50.2%	-$13.1M-47.3%	-$8.9M-111.1%	$80.2M+336.4%	-$33.9M+56.3%	-$77.5M-4.3%	-$74.3M
Dividends Paid	$6.1M+25.1%	$4.9M+0.1%	$4.9M+0.1%	$4.9M+33.3%	$3.6M+0.2%	$3.6M-0.1%	$3.6M0.0%	$3.6M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ESAB Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	36.9%-1.0pp	37.9%+1.2pp	36.6%+2.5pp	34.1%-0.4pp	34.5%-0.5pp	35.0%
Operating Margin	14.5%-1.8pp	16.3%+1.8pp	14.6%+1.9pp	12.7%+0.1pp	12.6%+2.2pp	10.4%
Net Margin	8.0%-1.7pp	9.7%+2.3pp	7.4%-1.2pp	8.6%-1.0pp	9.7%+1.6pp	8.1%
Return on Equity	10.5%-4.5pp	15.0%+2.2pp	12.8%-3.8pp	16.6%+7.0pp	9.6%+3.4pp	6.2%
Return on Assets	4.8%-1.8pp	6.6%+1.2pp	5.4%-0.6pp	6.0%-0.8pp	6.8%	N/A
Current Ratio	1.90+0.1	1.82+0.2	1.61-0.0	1.64+0.0	1.62	N/A
Debt-to-Equity	0.57-0.0	0.60-0.0	0.63-0.3	0.90+0.9	0.00	N/A
FCF Margin	7.5%-3.6pp	11.1%+0.9pp	10.2%+3.5pp	6.7%-2.1pp	8.9%-4.9pp	13.8%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	37.0%-0.2pp	37.2%-0.5pp	37.6%-0.9pp	38.5%+0.3pp	38.2%+1.3pp	37.0%+0.0pp	37.0%+0.3pp	36.7%
Operating Margin	14.6%-0.6pp	15.3%-1.0pp	16.2%-0.4pp	16.6%-0.3pp	16.9%+0.8pp	16.0%+1.0pp	15.0%+0.2pp	14.8%
Net Margin	7.5%-1.8pp	9.3%-0.6pp	9.9%+1.9pp	8.0%-3.7pp	11.7%+3.0pp	8.7%+1.4pp	7.3%-1.2pp	8.5%
Return on Equity	2.6%-0.6pp	3.2%-0.3pp	3.5%+0.5pp	3.0%-1.8pp	4.9%+1.2pp	3.6%+0.5pp	3.1%-0.7pp	3.8%
Return on Assets	1.1%-0.4pp	1.5%-0.1pp	1.6%+0.3pp	1.3%-0.8pp	2.1%+0.5pp	1.6%+0.3pp	1.3%-0.2pp	1.5%
Current Ratio	1.99+0.0	1.95+0.0	1.91+0.1	1.82-0.0	1.86+0.2	1.65+0.0	1.61-0.1	1.69
Debt-to-Equity	0.63+0.1	0.51-0.0	0.55-0.0	0.60-0.0	0.63+0.0	0.61-0.0	0.63-0.1	0.73
FCF Margin	9.7%+4.4pp	5.2%+1.1pp	4.2%-11.1pp	15.2%+4.8pp	10.5%+5.1pp	5.4%-9.6pp	14.9%+0.9pp	14.0%

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Frequently Asked Questions

What is ESAB Corp's annual revenue?

ESAB Corp (ESAB) reported $2.8M in total revenue for fiscal year 2025. This represents a -99.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is ESAB Corp's revenue growing?

ESAB Corp (ESAB) revenue declined by 99.9% year-over-year, from $2.7B to $2.8M in fiscal year 2025.

Is ESAB Corp profitable?

Yes, ESAB Corp (ESAB) reported a net income of $227K in fiscal year 2025, with a net profit margin of 8.0%.

What is ESAB Corp's earnings per share (EPS)?

ESAB Corp (ESAB) reported diluted earnings per share of $3.67 for fiscal year 2025. This represents a -14.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is ESAB Corp's EBITDA?

ESAB Corp (ESAB) had EBITDA of $446K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does ESAB Corp have?

As of fiscal year 2025, ESAB Corp (ESAB) had $186K in cash and equivalents against $1.2M in long-term debt.

What is ESAB Corp's gross margin?

ESAB Corp (ESAB) had a gross margin of 36.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is ESAB Corp's operating margin?

ESAB Corp (ESAB) had an operating margin of 14.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is ESAB Corp's net profit margin?

ESAB Corp (ESAB) had a net profit margin of 8.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does ESAB Corp pay dividends?

Yes, ESAB Corp (ESAB) paid $0.23 per share in dividends during fiscal year 2025.

What is ESAB Corp's return on equity (ROE)?

ESAB Corp (ESAB) has a return on equity of 10.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is ESAB Corp's free cash flow?

ESAB Corp (ESAB) generated $213K in free cash flow during fiscal year 2025. This represents a -99.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is ESAB Corp's operating cash flow?

ESAB Corp (ESAB) generated $261K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are ESAB Corp's total assets?

ESAB Corp (ESAB) had $4.8M in total assets as of fiscal year 2025, including both current and long-term assets.

What are ESAB Corp's capital expenditures?

ESAB Corp (ESAB) invested $47K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does ESAB Corp spend on research and development?

ESAB Corp (ESAB) invested $44 in research and development during fiscal year 2025.

How many shares does ESAB Corp have outstanding?

ESAB Corp (ESAB) had 61M shares outstanding as of fiscal year 2025.

What is ESAB Corp's current ratio?

ESAB Corp (ESAB) had a current ratio of 1.90 as of fiscal year 2025, which is generally considered healthy.

What is ESAB Corp's debt-to-equity ratio?

ESAB Corp (ESAB) had a debt-to-equity ratio of 0.57 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is ESAB Corp's return on assets (ROA)?

ESAB Corp (ESAB) had a return on assets of 4.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is ESAB Corp's Altman Z-Score?

ESAB Corp (ESAB) has an Altman Z-Score of 1902.02, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is ESAB Corp's Piotroski F-Score?

ESAB Corp (ESAB) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are ESAB Corp's earnings high quality?

ESAB Corp (ESAB) has an earnings quality ratio of 1.15x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is ESAB Corp?

ESAB Corp (ESAB) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.