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Side-by-side financial comparison of CLOVER HEALTH INVESTMENTS, CORP. (CLOV) and ESAB Corp (ESAB). Click either name above to swap in a different company.
ESAB Corp is the larger business by last-quarter revenue ($727.8M vs $487.7M, roughly 1.5× CLOVER HEALTH INVESTMENTS, CORP.). ESAB Corp runs the higher net margin — 7.5% vs -10.1%, a 17.6% gap on every dollar of revenue. On growth, CLOVER HEALTH INVESTMENTS, CORP. posted the faster year-over-year revenue change (44.7% vs 8.5%). ESAB Corp produced more free cash flow last quarter ($70.3M vs $-69.0M). Over the past eight quarters, CLOVER HEALTH INVESTMENTS, CORP.'s revenue compounded faster (18.6% CAGR vs 2.8%).
Clover Health Investments, Corp. is an American health care company founded in 2014. The company provides Medicare Advantage (MA) insurance plans and operates as a direct contracting entity with the U.S. government. The company manages care for Medicare beneficiaries in 11 states and started trading publicly on January 8, 2021.
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
CLOV vs ESAB — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $487.7M | $727.8M |
| Net Profit | $-49.3M | $54.8M |
| Gross Margin | — | 37.0% |
| Operating Margin | -10.1% | 14.6% |
| Net Margin | -10.1% | 7.5% |
| Revenue YoY | 44.7% | 8.5% |
| Net Profit YoY | -123.2% | 2.1% |
| EPS (diluted) | — | $0.90 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $487.7M | $727.8M | ||
| Q3 25 | $496.6M | $715.6M | ||
| Q2 25 | $477.6M | $678.1M | ||
| Q1 25 | $462.3M | — | ||
| Q4 24 | $337.0M | $670.8M | ||
| Q3 24 | $331.0M | $673.3M | ||
| Q2 24 | $356.3M | $707.1M | ||
| Q1 24 | $346.9M | $689.7M |
| Q4 25 | $-49.3M | $54.8M | ||
| Q3 25 | $-24.4M | $66.9M | ||
| Q2 25 | $-10.6M | $67.4M | ||
| Q1 25 | $-1.3M | — | ||
| Q4 24 | $-22.1M | $53.7M | ||
| Q3 24 | $-9.2M | $68.2M | ||
| Q2 24 | $7.4M | $82.9M | ||
| Q1 24 | $-19.2M | $60.0M |
| Q4 25 | — | 37.0% | ||
| Q3 25 | — | 37.2% | ||
| Q2 25 | — | 37.6% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 38.5% | ||
| Q3 24 | 24.5% | 37.7% | ||
| Q2 24 | 30.3% | 38.2% | ||
| Q1 24 | 23.6% | 37.0% |
| Q4 25 | -10.1% | 14.6% | ||
| Q3 25 | -4.9% | 15.2% | ||
| Q2 25 | -2.2% | 16.2% | ||
| Q1 25 | -0.3% | — | ||
| Q4 24 | -6.4% | 16.6% | ||
| Q3 24 | -2.7% | 15.7% | ||
| Q2 24 | 2.0% | 16.9% | ||
| Q1 24 | -6.5% | 16.0% |
| Q4 25 | -10.1% | 7.5% | ||
| Q3 25 | -4.9% | 9.3% | ||
| Q2 25 | -2.2% | 9.9% | ||
| Q1 25 | -0.3% | — | ||
| Q4 24 | -6.6% | 8.0% | ||
| Q3 24 | -2.8% | 10.1% | ||
| Q2 24 | 2.1% | 11.7% | ||
| Q1 24 | -5.5% | 8.7% |
| Q4 25 | — | $0.90 | ||
| Q3 25 | — | $1.09 | ||
| Q2 25 | — | $1.10 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0.87 | ||
| Q3 24 | — | $1.11 | ||
| Q2 24 | — | $1.35 | ||
| Q1 24 | — | $0.98 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $78.3M | $218.2M |
| Total DebtLower is stronger | — | $1.3B |
| Stockholders' EquityBook value | $308.7M | $2.1B |
| Total Assets | $541.0M | $4.9B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.3M | $218.2M | ||
| Q3 25 | — | $258.2M | ||
| Q2 25 | — | $291.3M | ||
| Q1 25 | — | — | ||
| Q4 24 | $194.5M | $249.4M | ||
| Q3 24 | $288.0M | $253.7M | ||
| Q2 24 | $254.8M | $228.5M | ||
| Q1 24 | $208.3M | $76.5M |
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $992.8M |
| Q4 25 | $308.7M | $2.1B | ||
| Q3 25 | $340.9M | $2.1B | ||
| Q2 25 | $344.2M | $1.9B | ||
| Q1 25 | $336.1M | — | ||
| Q4 24 | $341.1M | $1.8B | ||
| Q3 24 | $342.2M | $1.8B | ||
| Q2 24 | $324.9M | $1.7B | ||
| Q1 24 | $292.5M | $1.6B |
| Q4 25 | $541.0M | $4.9B | ||
| Q3 25 | $559.7M | $4.4B | ||
| Q2 25 | $575.0M | $4.2B | ||
| Q1 25 | $583.7M | — | ||
| Q4 24 | $580.7M | $4.0B | ||
| Q3 24 | $653.0M | $4.1B | ||
| Q2 24 | $674.2M | $4.0B | ||
| Q1 24 | $671.8M | $3.8B |
| Q4 25 | — | 0.63× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.55× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.59× | ||
| Q2 24 | — | 0.63× | ||
| Q1 24 | — | 0.61× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-66.9M | $81.5M |
| Free Cash FlowOCF − Capex | $-69.0M | $70.3M |
| FCF MarginFCF / Revenue | -14.1% | 9.7% |
| Capex IntensityCapex / Revenue | 0.4% | 1.5% |
| Cash ConversionOCF / Net Profit | — | 1.49× |
| TTM Free Cash FlowTrailing 4 quarters | $-69.2M | $238.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-66.9M | $81.5M | ||
| Q3 25 | $12.1M | $46.6M | ||
| Q2 25 | $5.4M | $35.4M | ||
| Q1 25 | $-16.3M | — | ||
| Q4 24 | $34.8M | $126.9M | ||
| Q3 24 | $50.0M | $101.0M | ||
| Q2 24 | $44.8M | $83.0M | ||
| Q1 24 | $25.9M | $44.5M |
| Q4 25 | $-69.0M | $70.3M | ||
| Q3 25 | $11.4M | $37.4M | ||
| Q2 25 | $4.8M | $28.1M | ||
| Q1 25 | $-16.5M | — | ||
| Q4 24 | $33.3M | $102.2M | ||
| Q3 24 | $49.6M | $90.4M | ||
| Q2 24 | $44.4M | $74.0M | ||
| Q1 24 | $25.5M | $37.1M |
| Q4 25 | -14.1% | 9.7% | ||
| Q3 25 | 2.3% | 5.2% | ||
| Q2 25 | 1.0% | 4.1% | ||
| Q1 25 | -3.6% | — | ||
| Q4 24 | 9.9% | 15.2% | ||
| Q3 24 | 15.0% | 13.4% | ||
| Q2 24 | 12.5% | 10.5% | ||
| Q1 24 | 7.3% | 5.4% |
| Q4 25 | 0.4% | 1.5% | ||
| Q3 25 | 0.1% | 1.3% | ||
| Q2 25 | 0.1% | 1.1% | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.5% | 3.7% | ||
| Q3 24 | 0.1% | 1.6% | ||
| Q2 24 | 0.1% | 1.3% | ||
| Q1 24 | 0.1% | 1.1% |
| Q4 25 | — | 1.49× | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | — | 0.53× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.36× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | 6.04× | 1.00× | ||
| Q1 24 | — | 0.74× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLOV
Segment breakdown not available.
ESAB
| Consumable Products | $477.9M | 66% |
| Equipment Products | $249.9M | 34% |
