Esab Corporation (ESAB) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$1.37	$1.33	-2.9%	—	—	—
Q2 26	$1.34	$1.31	-2.2%	—	—	—
Q1 26	$0.59	$0.66	+11.9%	—	$745.6M	—
Q3 25	$1.27	$1.32	+3.9%	—	$727.8M	—
Q2 25	$1.35	$1.36	+0.7%	—	$715.6M	—
Q1 25	$1.21	$1.25	+3.3%	—	$678.1M	—
Q4 24	$1.16	$1.28	+10.3%	—	$670.8M	—
Q3 24	$1.12	$1.25	+11.6%	—	$673.3M	—
Q2 24	$1.27	$1.32	+3.9%	—	$707.1M	—
Q1 24	$1.1	$1.2	+9.1%	—	$689.7M	—
Q4 23	$1.04	$1.13	+8.7%	—	$689.3M	—
Q3 23	$0.95	$1.08	+13.7%	—	$681M	—
Q2 23	$1.04	$1.21	+16.3%	—	$720.4M	—
Q1 23	$0.93	$1.04	+11.8%	—	$684M	—
Q4 22	$0.91	$1.05	+15.4%	—	$664.1M	—
Q3 22	$0.84	$0.92	+9.5%	—	$620.3M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.71	—	—	$2.8B	—
FY24	—	$4.36	—	—	$2.7B	—
FY23	—	$3.39	—	—	$2.8B	—
FY22	—	$3.7	—	—	$2.6B	—
FY21	—	$3.92

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2.2B	$2B	$2.4B	$2.6B	$2.8B	$2.7B	$2.8B
YoY change	—	-13.2%	+24.5%	+6.81%	+6.99%	-1.22%	+3.71%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2.2B	2B	2.4B	2.6B	2.8B	2.7B	2.8B
Cost of revenue	1.5B	1.3B	1.6B	1.7B	1.8B	1.7B	1.8B
Gross profit	796.4M	682.5M	838M	885.5M	1B	1B	1B
Gross margin	35.4%	35%	34.5%	34.1%	36.6%	37.9%	36.9%
Research & development	—	—	—	—	—	—	—
Selling, general & administrative	517.3M	458.7M	512.8M	533.4M	587.5M	579.8M	608.4M
Operating expenses	517.3M	458.7M	512.8M	533.4M	587.5M	579.8M	608.4M
Operating income	279.1M	223.8M	325.2M	352.2M	428.3M	457.7M	439.9M
Operating margin	12.4%	11.5%	13.4%	13.6%	15.4%	16.7%	15.5%
Non-operating income, net	-56.7M	-21.6M	-7.7M	-14M	-24.1M	-22.4M	-27.8M
Pretax income	221.5M	205.8M	319.1M	300.3M	319.1M	370.4M	328.3M
Income tax	44.7M	46M	80.4M	69.2M	95.7M	77.3M	69.2M
Net income	176.7M	159.9M	238.7M	228M	211M	270.7M	233.2M
Net margin	7.87%	8.2%	9.83%	8.79%	7.61%	9.88%	8.21%
EBITDA	415.8M	322M	420M	418.1M	503.3M	512.3M	524M
EPS	2.88	2.62	3.92	3.7	3.39	4.36	3.71
Diluted EPS	2.88	2.62	3.92	3.69	3.36	4.31	3.67

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	681M	689.3M	689.7M	707.1M	673.3M	670.8M	678.1M	715.6M	727.8M	721M	745.6M	807.6M
Cost of revenue	431.3M	434.6M	434.7M	436.7M	419.5M	412.4M	422.9M	449.5M	458.5M	463.2M	470.5M	500.4M
Gross profit	249.7M	254.7M	255M	270.3M	253.8M	258.3M	255.2M	266M	269.3M	257.8M	275.1M	307.2M
Gross margin	36.7%	37%	37%	38.2%	37.7%	38.5%	37.6%	37.2%	37%	35.8%	36.9%	38%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	145.4M	144.6M	142.4M	146.2M	145.9M	145.2M	140.9M	155.6M	158.3M	153.7M	174.5M	210.2M
Operating expenses	145.4M	144.6M	142.4M	146.2M	145.9M	145.2M	140.9M	155.6M	158.3M	153.7M	174.5M	210.2M
Operating income	104.3M	110.1M	112.6M	124.1M	107.9M	113.1M	114.3M	110.5M	111M	104.1M	100.6M	97M
Operating margin	15.3%	16%	16.3%	17.6%	16%	16.9%	16.9%	15.4%	15.2%	14.4%	13.5%	12%
Non-operating income, net	-3.1M	-6.4M	-14.1M	-4.8M	-1.9M	-1.7M	-4.5M	-1.4M	-4.3M	-17.5M	-10.2M	-18.3M
Pretax income	80.6M	77.5M	81.4M	103.4M	89.1M	96.5M	93.1M	88.1M	83M	64.1M	64.9M	48.1M
Income tax	19.8M	17.9M	18.5M	17.9M	18.1M	22.9M	20.5M	18.3M	17.7M	12.7M	13.1M	11.7M
Net income	59.1M	51.5M	61.6M	84.4M	69.8M	55M	69.8M	68.1M	56.5M	38.8M	49.2M	34M
Net margin	8.68%	7.47%	8.93%	11.9%	10.4%	8.19%	10.3%	9.52%	7.77%	5.38%	6.6%	4.21%
EBITDA	121.8M	134.4M	129M	140.7M	125M	129.8M	131.8M	129.8M	132.8M	129.5M	124.5M	124.9M
EPS	0.95	—	0.99	1.36	1.12	0.88	1.1	1.1	0.9	0.61	0.78	0.5
Diluted EPS	0.94	—	0.98	1.35	1.11	0.88	1.1	1.09	0.9	0.61	0.78	0.5

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	2.8B	5.2B	7.3B	6.8B	4.2B
Enterprise value	—	—	—	4.1B	6.2B	8.2B	8B	7B
Shares outstanding	60M	60M	60M	60.1M	60.2M	60.7M	61.1M	61.1M

Valuation

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	12.4	24.7	26.9	29.3	22.5
P/S	—	—	—	1.09	1.88	2.66	2.4	1.49
P/B	—	—	—	2.03	3.17	4.03	3.09	1.89
EV/EBITDA	—	—	—	9.71	12.4	16	15.2	13
EV/Sales	—	—	—	1.57	2.25	2.99	2.81	2.33
Earnings yield	—	—	—	8.09%	4.04%	3.72%	3.42%	4.44%
FCF yield	—	—	—	6.18%	5.41%	4.17%	3.12%	3.5%
PEG	—	—	—	—	—	—	—	-0.41

Profitability

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	35.4%	35%	34.5%	34.1%	36.6%	37.9%	36.9%	38%
Operating margin	12.4%	11.5%	13.4%	13.6%	15.4%	16.7%	15.5%	12%
Net margin	7.87%	8.2%	9.83%	8.79%	7.61%	9.88%	8.21%	5.75%
ROE	—	6.28%	9.54%	16.4%	12.8%	15%	10.5%	8.73%
ROA	—	4.72%	6.9%	6.07%	5.51%	6.71%	4.89%	5%
ROIC	—	6.7%	9.46%	10.3%	11.3%	13.3%	10.3%	6.63%
Return on tangible assets	—	-18.3%	-36.9%	-67.1%	-60.8%	-110.1%	-48.7%	-10.7%

Financial health

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	1.75	1.62	1.64	1.61	1.82	1.9	1.96
Quick ratio	—	1.07	0.91	0.95	0.98	1.18	1.17	1.22
Debt / equity	—	0.04	0.04	0.95	0.68	0.64	0.61	0.98
Debt / assets	—	0.03	0.03	0.35	0.29	0.29	0.28	0.39
Net debt / EBITDA	—	0.15	0.16	2.97	2.02	1.78	2.21	4.54
Interest coverage	—	—	—	8.91	4.75	6.71	4.91	3.54
Effective tax rate	20.2%	22.3%	25.2%	23%	30%	20.9%	21.1%	21.2%

Per share

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	37.5	32.5	40.5	43.2	46.1	45.1	46.5	49.3
EPS (basic)	2.88	2.62	3.92	3.7	3.39	4.36	3.71	3.71
EPS (diluted)	2.88	2.62	3.92	3.69	3.36	4.31	3.67	3.19
Book value per share	—	42.4	41.7	23.1	27.4	29.8	36.2	38.1
FCF per share	3.42	4.48	3.59	2.9	4.69	5	3.49	3.04
Cash per share	—	0.82	0.69	1.2	1.69	4.11	3.04	3.5
Capex per share	0.62	0.58	0.51	0.59	0.72	0.79	—	—

Capital allocation

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.67%	1.77%	1.25%	1.36%	1.57%	1.75%	—	—
Capex / operating cash flow	17.3%	11.1%	11.6%	15.8%	13.2%	14%	—	—
Payout ratio	—	0%	0%	2.66%	6.32%	6.28%	9.4%	13.2%
Dividend yield	—	—	—	0.21%	0.26%	0.23%	0.32%	0.71%

Yield

0.71%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.12

ex-dividend Jul 2, 2026

Payout ratio

13%

of earnings

Dividend growth

3 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 2, 2026	$0.12
Apr 2, 2026	$0.10
Dec 31, 2025	$0.10
Oct 3, 2025	$0.10
Jul 3, 2025	$0.10
Apr 4, 2025	$0.08
Dec 31, 2024	$0.08
Sep 27, 2024	$0.08

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	49.2M	41.2M	72M	102M	249.4M	185.9M
Receivables	329.6M	383.5M	374.3M	385.2M	370.3M	451.3M
Inventory	313.4M	420.1M	416.8M	392.9M	403.7M	481.8M
Total current assets	804.9M	964.1M	988.7M	997.7M	1.1B	1.3B
Property, plant & equipment	226.2M	221.4M	211.8M	211.2M	212.1M	261.3M
Goodwill & intangibles	4.3B	4.1B	4.1B	4.2B	4.3B	5.2B
Total assets	3.4B	3.5B	3.8B	3.8B	4B	4.8B
Accounts payable	241.3M	345.5M	316.3M	306.6M	318.5M	360.4M
Short-term debt	18.6M	20.5M	18.7M	22.8M	36.5M	24.5M
Total current liabilities	460.8M	596.6M	601.6M	620.1M	632.1M	664.8M
Long-term debt	78.4M	88.8M	1.3B	1.1B	1.1B	1.3B
Total liabilities	841.1M	959.5M	2.4B	2.2B	2.2B	2.6B
Shareholders' equity	2.5B	2.5B	1.4B	1.6B	1.8B	2.2B
Total debt	97M	109.2M	1.3B	1.1B	1.2B	1.3B
Net debt	47.8M	68M	1.2B	1B	913.9M	1.2B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	82.8M	—	—	—	—	—	—	—	218.2M	185.9M	1B	217.5M
Receivables	388.5M	—	—	—	—	—	—	—	460.5M	451.3M	488.5M	554.1M
Inventory	425.7M	392.9M	405.6M	426.5M	422.7M	403.7M	450.7M	474.1M	503.7M	481.8M	520.6M	581.5M
Total current assets	1B	—	—	—	—	—	—	—	1.3B	1.3B	2.2B	1.5B
Property, plant & equipment	368M	—	—	—	—	—	—	—	491.7M	261.3M	483.5M	533.2M
Goodwill & intangibles	4.1B	—	—	—	—	—	—	—	5.3B	5.2B	5.2B	8.2B
Total assets	3.8B	—	—	—	—	—	—	—	4.9B	4.8B	5.6B	6.6B
Accounts payable	302.6M	—	—	—	—	—	—	—	342.2M	360.4M	398.5M	407.4M
Short-term debt	20.3M	—	—	—	—	—	—	—	24.7M	24.5M	26.1M	32M
Total current liabilities	610.4M	—	—	—	—	—	—	—	669.1M	664.8M	730M	779M
Long-term debt	1.2B	—	—	—	—	—	—	—	1.4B	1.3B	2.1B	2.5B
Total liabilities	2.2B	—	—	—	—	—	—	—	2.7B	2.6B	3.4B	4B
Shareholders' equity	1.5B	1.6B	1.7B	1.7B	1.9B	1.8B	2B	2.1B	2.2B	2.2B	2.2B	2.6B
Total debt	1.2B	—	—	—	—	—	—	—	1.5B	1.3B	2.1B	2.5B
Net debt	1.1B	—	—	—	—	—	—	—	1.2B	1.2B	1.1B	2.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	176.7M	159.9M	238.7M	228M	211M	270.7M	233.2M
Depreciation & amortization	80.1M	76.6M	75.9M	66M	75M	66.8M	84.1M
Stock-based compensation	5.9M	6.4M	6.3M	13M	16.1M	19.8M	16.9M
Change in working capital	-23.2M	83.6M	-50.3M	-65.2M	52.5M	-14.4M	-35.3M
Operating cash flow	216.9M	312.6M	261.9M	223.5M	330.5M	343.2M	260.6M
Capital expenditure	-37.5M	-34.6M	-30.4M	-35.4M	-43.6M	-48M	—
Investing cash flow	-37.5M	-34.6M	-35.3M	-184.4M	-62.2M	-205.7M	-439.1M
Dividends paid	—	0	0	-6.1M	-13.3M	-17M	-21.9M
Share repurchases	—	—	—	—	—	—	—
Financing cash flow	-181.3M	-326.6M	-220.9M	7.6M	-219.7M	31.7M	113.7M
Net change in cash	-1.9M	-48.6M	5.8M	46.6M	48.5M	169.2M	-64.9M
Free cash flow	205.4M	269M	215.2M	174.1M	282.3M	303.6M	213.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	59.1M	51.5M	61.6M	84.4M	69.8M	55M	69.8M	68.1M	56.5M	38.8M	49.2M	34M
Depreciation & amortization	17.5M	17.9M	16.4M	16.5M	17.1M	16.8M	17.5M	19.4M	21.9M	25.4M	23.9M	27.9M
Stock-based compensation	3.7M	5M	4.1M	5.8M	4.6M	5.3M	5.4M	4.5M	2.6M	4.4M	3.9M	6.4M
Change in working capital	27M	73.9M	-50.2M	-26.6M	8.3M	54.2M	-49.5M	-42M	742K	55.4M	-31.1M	-26M
Operating cash flow	107.4M	122.4M	32.3M	83M	101.1M	126.9M	41.1M	46.6M	81.5M	97.1M	46.9M	33.4M
Capital expenditure	-8.6M	-19.9M	-7M	-8.8M	-7.8M	-24.4M	-2.7M	—	—	—	—	—
Investing cash flow	-9.1M	-19.9M	-26.6M	-10.3M	-77.3M	-91.5M	-2.7M	-86.3M	-352.4M	0	—	—
Dividends paid	-3.6M	-3.6M	-3.6M	-3.6M	-4.9M	-4.9M	-4.9M	-4.9M	-6.1M	-6.1M	-6.1M	-6.1M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-74.3M	-77.5M	-33.9M	97.1M	-5.7M	-8.9M	-13.1M	-6.5M	246.9M	-113.6M	786.2M	350.9M
Net change in cash	24M	25M	-28.2M	169.8M	18.1M	26.5M	25.3M	-46.2M	-24M	-16.5M	833.1M	384.4M
Free cash flow	95.5M	103.1M	37.1M	74M	90.4M	102.2M	28.1M	37.4M	70.3M	77.4M	33.2M	15.7M

Esab Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement