NYSE : ESAB
ESAB Corporation — Financial statements
Industrials · Metal Fabrication · United States
Last price 69.76 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.34B
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Financial statements
ESAB Corporation (ESAB) reported revenue of 3.00B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 3.00B | 2.84B | 2.74B | 2.77B | 2.59B | 2.43B |
| Cost of Revenue | 1.89B | 1.79B | 1.70B | 1.76B | 1.71B | 1.59B |
| Gross Profit | 1.11B | 1.05B | 1.04B | 1.02B | 885.53M | 837.98M |
| Selling, General & Admin | 577.15M | 494.13M | 495.60M | 497.35M | 443.63M | 425.95M |
| Research & Development | 49.20M | 44.00M | 39.20M | 38.80M | 36.00M | 39.70M |
| Amortization of Goodwill & Intangibles | 43.30M | 43.30M | 36.00M | 39.70M | 35.60M | 42.10M |
| Operating Expenses | 669.65M | 581.43M | 570.80M | 575.85M | 515.23M | 507.75M |
| Operating Income | 439.77M | 466.91M | 466.65M | 439.90M | 370.30M | 330.23M |
| Interest Expense | -94.46M | -76.04M | -62.39M | -54.79M | ||
| Interest & Investment Income | 7.12M | |||||
| Currency Exchange Gain (Loss) | -3.35M | -3.35M | -7.28M | -39.31M | -5.11M | -7.65M |
| Other Non Operating Income (Expenses) | -35.44M | |||||
| EBT Excluding Unusual Items | 341.95M | 387.52M | 396.99M | 345.80M | 329.76M | 329.70M |
| Merger & Restructuring Charges | -81.84M | -59.26M | -14.43M | -26.71M | -23.10M | -18.95M |
| Other Unusual Items | -12.15M | -6.41M | 8.34M | |||
| Pretax Income | 260.11M | 328.26M | 370.40M | 319.09M | 300.25M | 319.09M |
| Income Tax Expense | 55.19M | 69.16M | 77.35M | 95.73M | 69.17M | 80.41M |
| Earnings From Continuing Operations | 204.92M | 259.10M | 293.06M | 223.37M | 231.08M | 238.68M |
| Earnings From Discontinued Operations | -26.40M | -25.87M | -22.31M | -12.34M | -3.07M | |
| Net Income to Company | 178.52M | 233.23M | 270.75M | 211.02M | 228.01M | 238.68M |
| Minority Interest in Earnings | -6.00M | -6.47M | -5.91M | -5.74M | -4.27M | -3.57M |
| Net Income | 172.52M | 226.77M | 264.84M | 205.28M | 223.75M | 235.11M |
| Preferred Dividends & Other Adjustments | 1.22M | 1.22M | 1.37M | 1.55M | 1.60M | |
| Net Income to Common | 171.30M | 225.55M | 263.47M | 203.73M | 222.15M | 235.11M |
| Shares Outstanding (Basic) | 60.88M | 60.68M | 60.43M | 60.23M | 60.05M | 60.03M |
| Shares Outstanding (Diluted) | 61.34M | 61.27M | 61.10M | 60.66M | 60.15M | 60.03M |
| EPS (Basic) | 2.81 | 3.72 | 4.36 | 3.38 | 3.70 | 3.92 |
| EPS (Diluted) | 2.76 | 3.68 | 4.31 | 3.36 | 3.69 | 3.92 |
| Free Cash Flow | 196.61M | 213.28M | 303.62M | 282.32M | 174.12M | 215.15M |
| Free Cash Flow Per Share | 3.21 | 3.48 | 4.97 | 4.65 | 2.90 | 3.58 |
| Dividend Per Share | 0.42 | 0.38 | 0.30 | 0.23 | 0.15 | |
| Gross Margin | 36.95% | 36.88% | 37.85% | 36.61% | 34.14% | 34.51% |
| Operating Margin | 14.65% | 16.43% | 17.03% | 15.85% | 14.28% | 13.60% |
| Profit Margin | 5.71% | 7.94% | 9.61% | 7.34% | 8.57% | 9.68% |
| Free Cash Flow Margin | 6.55% | 7.50% | 11.08% | 10.17% | 6.71% | 8.86% |
| EBITDA | 538.66M | 550.91M | 533.25M | 509.60M | 435.40M | 404.83M |
| EBITDA Margin | 17.94% | 19.38% | 19.46% | 18.37% | 16.79% | 16.67% |
| D&A For EBITDA | 98.89M | 84.00M | 66.60M | 69.70M | 65.10M | 74.60M |
| EBIT | 439.77M | 466.91M | 466.65M | 439.90M | 370.30M | 330.23M |
| EBIT Margin | 14.65% | 16.43% | 17.03% | 15.85% | 14.28% | 13.60% |
| Effective Tax Rate | 21.22% | 21.07% | 20.88% | 30.00% | 23.04% | 25.20% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 217.49M | 185.86M | 249.36M | 102.00M | 72.02M | 41.21M |
| Cash & Short-Term Investments | 217.49M | 185.86M | 249.36M | 102.00M | 72.02M | 41.21M |
| Receivables | 554.15M | 451.30M | 370.32M | 385.20M | 374.33M | 383.50M |
| Inventory | 581.54M | 481.76M | 403.71M | 392.86M | 416.83M | 420.06M |
| Prepaid Expenses | 84.48M | 66.10M | 55.66M | 61.77M | 56.64M | 51.95M |
| Other Current Assets | 90.80M | 76.88M | 69.33M | 55.89M | 68.85M | 67.36M |
| Total Current Assets | 1.53B | 1.26B | 1.15B | 997.72M | 988.67M | 964.07M |
| Property, Plant & Equipment | 533.23M | 495.19M | 388.21M | 389.91M | 376.26M | 394.22M |
| Long-Term Investments | 842.00K | 9.52M | 14.34M | |||
| Goodwill | 2.75B | 1.95B | 1.65B | 1.59B | 1.53B | 1.53B |
| Other Intangible Assets | 1.37B | 673.01M | 487.99M | 499.54M | 517.17M | 521.43M |
| Long-Term Deferred Tax Assets | 58.22M | 44.82M | 46.60M | 42.86M | 9.36M | |
| Long-Term Deferred Charges | 3.60M | 4.20M | ||||
| Other Long-Term Assets | 379.02M | 323.88M | 311.74M | 297.01M | 284.95M | 39.18M |
| Total Assets | 6.56B | 4.77B | 4.03B | 3.83B | 3.75B | 3.46B |
| Accounts Payable | 407.43M | 360.39M | 318.49M | 306.59M | 316.26M | 345.48M |
| Accrued Expenses | 163.84M | 134.40M | 146.01M | 162.91M | 140.54M | 126.67M |
| Current Portion of Long-Term Debt | 5.94M | 2.41M | 15.00M | |||
| Current Portion of Leases | 26.11M | 22.08M | 21.46M | 22.79M | 18.66M | 20.47M |
| Current Income Taxes Payable | 57.26M | 53.73M | 46.40M | 45.68M | 49.62M | 58.92M |
| Current Unearned Revenue | 40.69M | 19.66M | 26.39M | 31.25M | 25.90M | 22.27M |
| Other Current Liabilities | 77.75M | 72.11M | 58.30M | 50.86M | 50.59M | 22.79M |
| Total Current Liabilities | 779.01M | 664.79M | 632.05M | 620.08M | 601.58M | 596.59M |
| Long-Term Debt | 2.39B | 1.23B | 1.06B | 1.02B | 1.22B | |
| Long-Term Leases | 116.10M | 88.14M | 66.04M | 76.61M | 76.16M | 88.78M |
| Other Long-Term Liabilities | 691.94M | 569.10M | 466.89M | 466.22M | 469.18M | 274.17M |
| Total Liabilities | 3.98B | 2.55B | 2.23B | 2.18B | 2.37B | 959.53M |
| Common Stock | 62.00K | 61.00K | 61.00K | 60.00K | 60.00K | 2.92B |
| Additional Paid-In Capital | 2.05B | 1.90B | 1.90B | 1.88B | 1.87B | |
| Retained Earnings | 865.81M | 800.81M | 597.18M | 350.56M | 159.23M | |
| Comprehensive Income & Other | -548.17M | -539.72M | -729.57M | -624.27M | -674.99M | -460.89M |
| Total Common Equity | 2.37B | 2.17B | 1.77B | 1.61B | 1.35B | 2.46B |
| Minority Interest | 45.54M | 45.49M | 39.24M | 40.26M | 38.25M | 40.99M |
| Shareholders' Equity | 2.58B | 2.21B | 1.81B | 1.65B | 1.39B | 2.50B |
| Total Liabilities & Equity | 6.56B | 4.77B | 4.03B | 3.83B | 3.75B | 3.46B |
| Total Debt | 2.54B | 1.35B | 1.16B | 1.12B | 1.31B | 109.24M |
| Net Cash (Debt) | -2.32B | -1.16B | -913.88M | -1.02B | -1.24B | -68.03M |
| Net Cash Per Share | -37.85 | -18.92 | -14.96 | -16.74 | -20.64 | -1.13 |
| Filing Date Shares Outstanding | 62.17M | 60.73M | 60.53M | 60.34M | 60.19M | 60.03M |
| Total Common Shares Outstanding | 62.17M | 60.72M | 60.52M | 60.30M | 60.09M | 60.03M |
| Working Capital | 749.46M | 597.12M | 516.33M | 377.64M | 387.10M | 367.48M |
| Book Value Per Share | 38.08 | 35.67 | 29.23 | 26.66 | 22.47 | 40.99 |
| Tangible Book Value | -1.75B | -456.67M | -370.98M | -480.47M | -696.73M | 406.31M |
| Tangible Book Value Per Share | -28.16 | -7.52 | -6.13 | -7.97 | -11.59 | 6.77 |
| Land | 23.48M | 14.48M | 15.10M | 15.84M | 16.03M | |
| Buildings | 233.85M | 176.08M | 178.68M | 164.47M | 172.84M | |
| Machinery | 486.68M | 409.05M | 394.32M | 382.83M | 362.07M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 172.52M | 226.77M | 264.84M | 205.28M | 223.75M | 235.11M |
| Depreciation & Amortization | 98.89M | 84.00M | 66.60M | 69.70M | 65.10M | 74.60M |
| Loss (Gain) From Sale of Assets | -2.00K | -5.64M | -986.00K | -1.57M | ||
| Asset Writedown & Restructuring Costs | 105.00K | 105.00K | 190.00K | 5.33M | 878.00K | 1.30M |
| Stock-Based Compensation | 17.42M | 16.94M | 19.78M | 16.12M | 12.96M | 6.27M |
| Other Operating Activities | -35.22M | -26.33M | 18.35M | -18.47M | -23.10M | -16.28M |
| Change in Accounts Receivable | -30.39M | -40.01M | -4.85M | -6.01M | -8.14M | -67.85M |
| Change in Inventory | -19.68M | -5.57M | -22.50M | 17.96M | -10.07M | -117.35M |
| Change in Accounts Payable | 19.85M | 6.69M | 31.86M | -19.82M | -28.79M | 114.50M |
| Change in Other Net Operating Assets | 29.34M | 3.63M | -17.89M | 61.96M | -18.23M | 20.44M |
| Operating Cash Flow | 258.87M | 260.57M | 355.40M | 330.49M | 214.36M | 250.74M |
| Capital Expenditures | -62.26M | -47.29M | -51.78M | -48.18M | -40.24M | -35.58M |
| Sale of Property, Plant & Equipment | 2.16M | 6.54M | 3.81M | 4.60M | 4.85M | 5.20M |
| Cash Acquisitions | -1.82B | -438.31M | -153.66M | -18.66M | -149.03M | -4.88M |
| Other Investing Activities | -316.00K | -816.00K | -4.06M | |||
| Investing Cash Flow | -1.88B | -479.88M | -205.70M | -62.24M | -184.42M | -35.27M |
| Long-Term Debt Issued | 760.72M | 905.00M | 574.15M | 1.81B | 673.00K | |
| Long-Term Debt Repaid | -602.15M | -839.50M | -775.67M | -585.49M | ||
| Total Debt Repaid | -1.33B | -602.15M | -839.50M | -775.67M | -585.49M | |
| Net Debt Issued (Repaid) | 1.33B | 158.57M | 65.50M | -201.52M | 1.22B | 673.00K |
| Common Dividends Paid | -24.39M | -21.91M | -16.99M | -13.34M | -6.05M | |
| Other Financing Activities | -33.49M | -22.95M | -16.83M | -4.85M | -1.21B | -222.24M |
| Financing Cash Flow | 1.58B | 113.70M | 31.67M | -219.72M | 7.56M | -221.57M |
| Foreign Exchange Rate Adjustments | 886.00K | 42.12M | -34.02M | -18.55M | -6.68M | -1.90M |
| Net Cash Flow | -40.73M | -63.49M | 147.35M | 29.98M | 30.82M | -8.00M |
| Free Cash Flow | 196.61M | 213.28M | 303.62M | 282.32M | 174.12M | 215.15M |
| Free Cash Flow Margin | 6.55% | 7.50% | 11.08% | 10.17% | 6.71% | 8.86% |
| Free Cash Flow Per Share | 3.21 | 3.48 | 4.97 | 4.65 | 2.90 | 3.58 |
| Levered Free Cash Flow | 146.13M | 165.63M | 282.26M | 313.64M | 282.27M | 218.47M |
| Unlevered Free Cash Flow | 199.12M | 213.16M | 321.25M | 347.89M | 282.27M | 218.47M |
| Cash Income Tax Paid | 92.69M | 92.69M | 94.53M | 132.90M | 85.66M | |
| Change in Working Capital | -892.00K | -35.26M | -13.37M | 54.10M | -65.23M | -50.26M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.34B | 6.78B | 7.25B | 5.22B | 2.82B | |
| Enterprise Value | 6.66B | 8.08B | 8.21B | 6.36B | 4.02B | |
| Last Close Price | 69.76 | 111.27 | 119.06 | 85.74 | 46.29 | |
| PE Ratio | 25.29 | 30.07 | 27.52 | 25.62 | 12.69 | |
| Forward PE | 11.95 | 19.17 | 22.85 | 18.84 | 11.24 | |
| PS Ratio | 1.44 | 2.39 | 2.65 | 1.88 | 1.09 | |
| PB Ratio | 1.83 | 3.07 | 4.01 | 3.17 | 2.03 | |
| P/FCF Ratio | 22.06 | 31.80 | 23.88 | 18.49 | 16.19 | |
| P/OCF Ratio | 16.75 | 26.03 | 20.40 | 15.80 | 13.15 | |
| PEG Ratio | 1.06 | 1.97 | 1.97 | 1.60 | ||
| EV/Sales Ratio | 2.22 | 2.84 | 3.00 | 2.29 | 1.55 | |
| EV/EBITDA Ratio | 12.36 | 14.66 | 15.39 | 12.48 | 9.24 | |
| EV/EBIT Ratio | 15.14 | 17.30 | 17.59 | 14.46 | 10.86 | |
| EV/FCF Ratio | 33.87 | 37.87 | 27.04 | 22.54 | 23.10 | |
| Debt / Equity Ratio | 0.98 | 0.61 | 0.64 | 0.68 | 0.95 | 0.04 |
| Debt / EBITDA Ratio | 4.46 | 2.32 | 2.08 | 2.09 | 2.88 | 0.26 |
| Debt / FCF Ratio | 12.92 | 6.31 | 3.83 | 3.96 | 7.54 | 0.51 |
| Net Debt / Equity Ratio | 0.90 | 0.52 | 0.51 | 0.62 | 0.89 | 0.03 |
| Net Debt / EBITDA Ratio | 4.31 | 2.10 | 1.71 | 1.99 | 2.85 | 0.17 |
| Net Debt / FCF Ratio | 11.81 | 5.44 | 3.01 | 3.60 | 7.13 | 0.32 |
| Asset Turnover | 0.55 | 0.65 | 0.70 | 0.73 | 0.72 | 0.71 |
| Inventory Turnover | 3.59 | 4.05 | 4.28 | 4.34 | 4.08 | 4.34 |
| Quick Ratio | 0.99 | 0.96 | 0.98 | 0.79 | 0.74 | 0.71 |
| Current Ratio | 1.96 | 1.90 | 1.82 | 1.61 | 1.64 | 1.62 |
| Return on Equity (ROE) | 8.73% | 12.89% | 16.96% | 14.71% | 11.88% | 9.46% |
| Return on Assets (ROA) | 5.00% | 6.63% | 7.42% | 7.25% | 6.42% | 6.03% |
| Return on Invested Capital (ROIC) | 8.37% | 12.10% | 13.71% | 11.63% | 10.96% | 9.57% |
| Return on Capital Employed (ROCE) | 7.60% | 11.40% | 13.70% | 13.70% | 11.70% | 11.50% |
| Earnings Yield | 3.95% | 3.34% | 3.65% | 3.93% | 7.94% | |
| FCF Yield | 4.53% | 3.15% | 4.19% | 5.41% | 6.18% | |
| Dividend Yield | 0.69% | 0.34% | 0.25% | 0.27% | 0.32% | |
| Payout Ratio | 15.95% | 9.66% | 6.42% | 6.50% | 2.71% | |
| Buyback Yield / Dilution | -0.18% | -0.27% | -0.74% | -0.84% | -0.20% | |
| Total Shareholder Return | 0.51% | 0.07% | -0.49% | -0.57% | 0.12% |