ESAB Corp (ESAB) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q3 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ESAB SEC filings page.
ESAB Corp (ESAB) reported $2.8B in revenue for fiscal year 2025, up 3.7% from the prior fiscal year. This page shows its 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).
Cash-generative operations are funding heavy non-capital investment while margins and returns reset from FY2024.
In FY2025, operating cash flow fell to$260.6M even as revenue reached$2.84B , showing weaker cash conversion behind the reported growth. Investing cash flow used$479.9M against capital expenditures of$47.3M , indicating that deployment outside routine operating reinvestment became the main cash-use mechanic.
Gross margin eased to
Debt climbed to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of ESAB Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
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 82/100, reflecting efficient cost management and pricing power. This is down from 16.3% the prior year.
ESAB Corp's revenue grew a modest 3.7% year-over-year to $2.8B. This slow but positive growth earns a score of 34/100.
ESAB Corp has a moderate D/E ratio of 0.57. This balance of debt and equity financing earns a leverage score of 31/100.
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.
ESAB Corp has a free cash flow margin of 7.5%, earning a moderate score of 64/100. The company generates positive cash flow after capital investments, but with room for improvement.
ESAB Corp earns a strong 10.5% return on equity (ROE), meaning it generates $10 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 78/100. This is down from 15.0% the prior year.
ESAB Corp scores 2.36, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
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.
For every $1 of reported earnings, ESAB Corp generates $1.15 in operating cash flow ($260.6M OCF vs $226.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
ESAB Corp generated $807.6M in revenue in Q3 2026. This represents an increase of 12.9% from the same quarter a year earlier. Against the prior quarter it is up 8.3%.
ESAB Corp's EBITDA was $106.6M in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 17.0% from the same quarter a year earlier. Against the prior quarter it is down 6.8%.
ESAB Corp reported $32.4M in net income in Q3 2026. This represents a decrease of 51.6% from the same quarter a year earlier. Against the prior quarter it is down 32.1%.
ESAB Corp earned $0.50 per diluted share (EPS) in Q3 2026. This represents a decrease of 54.1% from the same quarter a year earlier. Against the prior quarter it is down 35.9%.
Cash & Balance Sheet
ESAB Corp generated $15.7M in free cash flow in Q3 2026, representing cash available after capex. This represents a decrease of 58.1% from the same quarter a year earlier. Against the prior quarter it is down 52.8%.
ESAB Corp held $217.5M in cash against $2.4B in long-term debt as of Q3 2026.
ESAB Corp paid $0.12 per share in dividends in Q3 2026. This represents an increase of 20.0% from the same quarter a year earlier. Against the prior quarter it is up 20.0%.
Margins & Returns
ESAB Corp's gross margin was 38.0% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is up 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.1 percentage points.
ESAB Corp's operating margin was 9.8% in Q3 2026, reflecting core business profitability. This is down 5.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.4 percentage points.
ESAB Corp's net profit margin was 4.0% in Q3 2026, showing the share of revenue converted to profit. This is down 5.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.4 percentage points.
ESAB Corp's ROE was 1.3% in Q3 2026, measuring profit generated per dollar of shareholder equity. This is down 2.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.9 percentage points.
Capital Allocation
ESAB Corp invested $13.3M in research and development in Q3 2026. This represents an increase of 26.7% from the same quarter a year earlier. Against the prior quarter it is up 6.4%.
ESAB Corp invested $17.7M in capex in Q3 2026, funding long-term assets and infrastructure. This represents an increase of 93.3% from the same quarter a year earlier. Against the prior quarter it is up 29.5%.
Not reported for Q3 2026.
ESAB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $807.6M+12.9% | $745.6M+9.9% | $727.8M+8.5% | $715.6M+6.3% | $678.1M-4.1% | $670.8M-2.7% | $673.3M-1.1% | $707.1M-1.9% |
| Cost of Revenue | $500.4M+11.3% | $470.5M+11.2% | $458.5M+11.2% | $449.5M+7.2% | $422.9M-3.2% | $412.4M-5.1% | $419.5M-2.7% | $436.7M-4.3% |
| Gross Profit | $307.2M+15.5% | $275.1M+7.8% | $269.3M+4.2% | $266.0M+4.8% | $255.2M-5.6% | $258.3M+1.4% | $253.8M+1.6% | $270.3M+2.4% |
| R&D Expenses | $13.3M+26.7% | $12.5M+23.8% | $10.5M+2.9% | $10.5M+14.1% | $10.1M+4.1% | $10.2M-4.7% | $9.2M+2.2% | $9.7M+2.1% |
| SG&A Expenses | $210.2M+35.1% | $174.5M+23.9% | $158.3M+9.0% | $155.6M+6.6% | $140.9M-3.6% | $145.2M+0.4% | $145.9M+0.3% | $146.2M-2.6% |
| Operating Income | $78.7M-27.8% | $90.5M-17.6% | $106.6M-4.3% | $109.1M+2.9% | $109.8M-8.0% | $111.4M+7.4% | $106.0M+4.8% | $119.4M+9.9% |
| EBITDA | $106.6M-17.0% | $114.3M-10.2% | $128.5M+0.2% | $128.4M+4.3% | $127.3M-6.3% | $128.2M+5.4% | $123.1M+3.7% | $135.9M+7.6% |
| Income Tax | $11.7M-36.0% | $13.1M-36.0% | $17.7M-22.7% | $18.3M+1.2% | $20.5M+14.6% | $22.9M+27.7% | $18.1M-8.8% | $17.9M-14.7% |
| Net Income | $32.4M-51.6% | $47.6M-29.3% | $54.8M+2.1% | $66.9M-2.0% | $67.4M-18.7% | $53.7M+7.0% | $68.2M+18.5% | $82.9M+26.4% |
| EPS (Basic) | $0.50-54.5% | $0.78-29.1% | $0.90+2.3% | $1.10-1.8% | $1.10-19.1% | $0.88+6.0% | $1.12+17.9% | $1.36+25.9% |
| EPS (Diluted) | $0.50-54.1% | $0.78-29.1% | $0.90+3.4% | $1.09-1.8% | $1.10-18.5% | $0.87+6.1% | $1.11+18.1% | $1.35+26.2% |
| Diluted Shares (Avg) | 62M+0.5% | 61M0.0% | 61M | 61M+0.4% | 61M+0.3% | N/A | 61M+0.6% | 61M+0.9% |
Not reported in any period shown, so not listed: Interest Expense.
ESAB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.6B+48.1% | $5.6B+33.4% | $4.9B+20.7% | $4.4B+8.5% | $4.2B+6.3% | $4.0B+5.4% | $4.1B+8.7% | $4.0B+2.7% |
| Current Assets | $1.5B+14.4% | $2.2B+68.7% | $1.3B+16.1% | $1.3B+9.4% | $1.3B+6.1% | $1.1B+15.1% | $1.2B+18.6% | $1.2B+13.2% |
| Cash & Equivalents | $217.5M-15.8% | $1.0B+244.9% | $218.2M-12.5% | $258.2M+1.8% | $291.3M+27.5% | $249.4M+144.5% | $253.7M+206.2% | $228.5M+206.9% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $581.5M+22.7% | $520.6M+15.5% | $503.7M+24.8% | $474.1M+12.2% | $450.7M+5.7% | $403.7M+2.8% | $422.7M-0.7% | $426.5M-4.7% |
| Accounts Receivable | $554.1M+21.5% | $488.5M+17.8% | $460.5M+24.3% | $456.1M+8.4% | $414.8M-3.8% | $370.3M-3.9% | $420.9M+8.4% | $431.2M+4.5% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $2.7B+53.4% | $1.9B+14.6% | $2.0B+18.8% | $1.8B+7.3% | $1.7B+6.4% | $1.7B+4.0% | $1.7B+7.3% | $1.6B-0.1% |
| Total Liabilities | $4.0B+71.4% | $3.4B+49.5% | $2.7B+21.6% | $2.3B+5.2% | $2.3B+2.2% | $2.2B+2.1% | $2.2B-0.4% | $2.2B-4.2% |
| Current Liabilities | $779.0M+13.5% | $730.0M+8.6% | $669.1M+5.9% | $686.5M+7.8% | $672.0M+3.2% | $632.1M+1.9% | $637.1M+4.4% | $651.1M+5.3% |
| Non-Current Liabilities | $3.2B+95.8% | $2.7B+66.7% | $2.0B+27.9% | $1.6B+4.1% | $1.6B+1.8% | $1.6B+2.1% | $1.6B-2.2% | $1.6B-7.7% |
| Long-Term Debt | $2.4B+125.8% | $2.0B+92.4% | $1.3B+25.8% | $1.1B-2.0% | $1.1B-2.2% | $1.1B+4.2% | $1.1B-0.8% | $1.1B-6.9% |
| Total Equity | $2.5B+22.7% | $2.2B+14.7% | $2.1B+19.6% | $2.1B+12.7% | $1.9B+11.8% | $1.8B+10.1% | $1.8B+22.4% | $1.7B+13.4% |
| Retained Earnings | $865.8M+20.2% | $842.3M+27.7% | $769.2M+28.8% | $720.5M+31.4% | $659.7M+36.0% | $597.2M+70.4% | $548.3M+80.4% | $484.9M+93.9% |
ESAB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $33.4M-28.3% | $46.9M+32.5% | $81.5M-35.8% | $46.6M-53.9% | $35.4M-57.3% | $126.9M+3.7% | $101.0M-5.9% | $83.0M+32.5% |
| Depreciation & Amortization | $27.9M+44.0% | $23.9M+36.5% | $21.9M+30.6% | $19.4M+13.2% | $17.5M+5.7% | $16.8M-6.6% | $17.1M-2.5% | $16.5M-6.5% |
| Stock-Based Compensation | N/A | $3.9M-26.4% | N/A | N/A | $5.4M | N/A | N/A | N/A |
| Capital Expenditures | $17.7M+93.3% | $13.7M+87.9% | $11.2M-54.8% | $9.2M-13.7% | $7.3M-19.2% | $24.7M+27.9% | $10.6M-10.4% | $9.0M-2.9% |
| Free Cash Flow | $15.7M-58.1% | $33.2M+18.1% | $70.3M-31.2% | $37.4M-58.6% | $28.1M-62.0% | $102.2M-0.9% | $90.4M-5.3% | $74.0M+38.7% |
| Investing Cash Flow | -$1.5B-1452.1% | -$13.4M-399.4% | -$363.6M-297.4% | -$95.8M-24.0% | -$2.7M+74.0% | -$91.5M-360.1% | -$77.3M-752.8% | -$10.3M-36.8% |
| Financing Cash Flow | $661.8M+10238.4% | $786.2M+6092.7% | $246.9M+2872.1% | -$6.5M-14.4% | -$13.1M-116.4% | -$8.9M+88.5% | -$5.7M+92.3% | $80.2M+231.9% |
| Dividends Paid | $6.1M+25.5% | $6.1M+25.3% | $6.1M+25.4% | $4.9M+0.2% | $4.9M+33.4% | $4.9M+33.4% | $4.9M+33.4% | $3.6M+20.3% |
Not reported in any period shown, so not listed: Share Buybacks.
ESAB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.0%+0.9pp | 36.9%-0.7pp | 37.0%-1.5pp | 37.2%-0.5pp | 37.6%-0.6pp | 38.5%+1.6pp | 37.7%+1.0pp | 38.2%+1.6pp |
| Operating Margin | 9.8%-5.5pp | 12.1%-4.1pp | 14.6%-2.0pp | 15.3%-0.5pp | 16.2%-0.7pp | 16.6%+1.6pp | 15.8%+0.9pp | 16.9%+1.8pp |
| Net Margin | 4.0%-5.3pp | 6.4%-3.5pp | 7.5%-0.5pp | 9.3%-0.8pp | 9.9%-1.8pp | 8.0%+0.7pp | 10.1%+1.7pp | 11.7%+2.6pp |
| Return on Equity | 1.3%-2.0pp | 2.2%-1.4pp | 2.6%-0.5pp | 3.2%-0.5pp | 3.5%-1.3pp | 3.0%-0.1pp | 3.7%-0.1pp | 4.9%+0.5pp |
| Return on Assets | 0.5%-1.0pp | 0.9%-0.8pp | 1.1%-0.2pp | 1.5%-0.2pp | 1.6%-0.5pp | 1.3%0.0pp | 1.7%+0.1pp | 2.1%+0.4pp |
| Current Ratio | 1.960.0x | 2.97+1.1x | 1.99+0.2x | 1.950.0x | 1.91+0.1x | 1.82+0.2x | 1.92+0.2x | 1.86+0.1x |
| Debt-to-Equity | 0.94+0.4x | 0.93+0.4x | 0.630.0x | 0.51-0.1x | 0.55-0.1x | 0.600.0x | 0.59-0.1x | 0.63-0.1x |
| Asset Turnover | 0.120.0x | 0.130.0x | 0.150.0x | 0.160.0x | 0.160.0x | 0.170.0x | 0.160.0x | 0.180.0x |
| FCF Margin | 1.9%-3.3pp | 4.5%+0.3pp | 9.7%-5.6pp | 5.2%-8.2pp | 4.2%-6.3pp | 15.2%+0.3pp | 13.4%-0.6pp | 10.5%+3.0pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| ESAB Corp ESAB | FY2025 | $2.8B | $226.8M | 8.0% | $4.7B | 58/100 |
| Worthington WOR | FY2026 | $1.4B | $156.1M | 11.3% | $3.1B | 47/100 |
| Allegheny Tech ATI | FY2025 | $4.6B | $404.3M | 8.8% | $28.7B | 58/100 |
| Carpenter Technology Corp CRS | FY2026 | $3.1B | $529.8M | 17.0% | $23.6B | 70/100 |
| Mueller Inds MLI | FY2025 | $4.2B | $765.2M | 18.3% | $14.1B | 86/100 |
| Insteel Inds IIIN | FY2025 | $647.7M | $41.0M | 6.3% | $605.1M | 41/100 |
Where ESAB Corp Ranks
Frequently Asked Questions
What is ESAB Corp's annual revenue?
ESAB Corp (ESAB) reported $2.8B in total revenue for fiscal year 2025. This represents a 3.7% 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 grew by 3.7% year-over-year, from $2.7B to $2.8B in fiscal year 2025.
Is ESAB Corp profitable?
Yes, ESAB Corp (ESAB) reported a net income of $226.8M in fiscal year 2025, with a net profit margin of 8.0%.
What is ESAB Corp's EBITDA?
ESAB Corp (ESAB) had EBITDA of $496.3M 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 $185.9M in cash and equivalents against $1.2B 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 $0.38 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 $213.3M in free cash flow during fiscal year 2025. This represents a -29.8% 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 $260.6M 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 $4.8B 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 $47.3M 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 $44.0M in research and development during 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 P/E ratio?
ESAB Corp (ESAB) trades at 20.6x earnings, its market capitalization divided by net income of $226.8M net income, FY2025. The market capitalization is $4.7B as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is ESAB Corp's price-to-sales ratio?
ESAB Corp (ESAB) trades at 1.6x sales, its market capitalization divided by revenue of $2.8B revenue, FY2025. The market capitalization is $4.7B as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is ESAB Corp's Altman Z-Score?
ESAB Corp (ESAB) has an Altman Z-Score of 2.36, placing it in the Grey Zone (moderate 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 to 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 58 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.