vs
Side-by-side financial comparison of Compass Diversified Holdings (CODI) and ESAB Corp (ESAB). Click either name above to swap in a different company.
ESAB Corp is the larger business by last-quarter revenue ($745.6M vs $468.6M, roughly 1.6× Compass Diversified Holdings). ESAB Corp runs the higher net margin — 6.6% vs -16.8%, a 23.4% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (9.9% vs -5.1%). Over the past eight quarters, Compass Diversified Holdings's revenue compounded faster (6.8% CAGR vs 4.0%).
Compass Diversified Holdings is a publicly traded holding firm that acquires and operates a diverse portfolio of middle-market businesses across sectors including consumer goods, industrial manufacturing, outdoor recreation, and food & beverage. It partners with portfolio company leadership teams to drive long-term operational growth and value creation, primarily serving North American markets.
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
CODI vs ESAB — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $468.6M | $745.6M |
| Net Profit | $-78.8M | $49.2M |
| Gross Margin | 43.1% | 36.9% |
| Operating Margin | 9.8% | 12.1% |
| Net Margin | -16.8% | 6.6% |
| Revenue YoY | -5.1% | 9.9% |
| Net Profit YoY | -14.4% | -29.3% |
| EPS (diluted) | $-0.91 | $0.78 |
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.
| Q1 26 | — | $745.6M | ||
| Q4 25 | $468.6M | $727.8M | ||
| Q3 25 | $472.6M | $715.6M | ||
| Q2 25 | $478.7M | $678.1M | ||
| Q1 25 | $453.8M | — | ||
| Q4 24 | $493.9M | $670.8M | ||
| Q3 24 | $456.6M | $673.3M | ||
| Q2 24 | $426.7M | $707.1M |
| Q1 26 | — | $49.2M | ||
| Q4 25 | $-78.8M | $54.8M | ||
| Q3 25 | $-74.0M | $66.9M | ||
| Q2 25 | $-51.2M | $67.4M | ||
| Q1 25 | $-30.0M | — | ||
| Q4 24 | $-68.9M | $53.7M | ||
| Q3 24 | $-36.0M | $68.2M | ||
| Q2 24 | $-73.1M | $82.9M |
| Q1 26 | — | 36.9% | ||
| Q4 25 | 43.1% | 37.0% | ||
| Q3 25 | 44.0% | 37.2% | ||
| Q2 25 | 43.6% | 37.6% | ||
| Q1 25 | 43.2% | — | ||
| Q4 24 | 38.6% | 38.5% | ||
| Q3 24 | 43.1% | 37.7% | ||
| Q2 24 | 44.1% | 38.2% |
| Q1 26 | — | 12.1% | ||
| Q4 25 | 9.8% | 14.6% | ||
| Q3 25 | -2.3% | 15.2% | ||
| Q2 25 | -5.7% | 16.2% | ||
| Q1 25 | 0.8% | — | ||
| Q4 24 | -3.8% | 16.6% | ||
| Q3 24 | 1.8% | 15.7% | ||
| Q2 24 | 1.8% | 16.9% |
| Q1 26 | — | 6.6% | ||
| Q4 25 | -16.8% | 7.5% | ||
| Q3 25 | -15.7% | 9.3% | ||
| Q2 25 | -10.7% | 9.9% | ||
| Q1 25 | -6.6% | — | ||
| Q4 24 | -13.9% | 8.0% | ||
| Q3 24 | -7.9% | 10.1% | ||
| Q2 24 | -17.1% | 11.7% |
| Q1 26 | — | $0.78 | ||
| Q4 25 | $-0.91 | $0.90 | ||
| Q3 25 | $-1.21 | $1.09 | ||
| Q2 25 | $-0.88 | $1.10 | ||
| Q1 25 | $-0.59 | — | ||
| Q4 24 | $-0.57 | $0.87 | ||
| Q3 24 | $-0.62 | $1.11 | ||
| Q2 24 | $-1.12 | $1.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $68.0M | $1.0B |
| Total DebtLower is stronger | $1.9B | $2.0B |
| Stockholders' EquityBook value | $442.0M | $2.2B |
| Total Assets | $3.0B | $5.6B |
| Debt / EquityLower = less leverage | 4.25× | 0.91× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.0B | ||
| Q4 25 | $68.0M | $218.2M | ||
| Q3 25 | $61.1M | $258.2M | ||
| Q2 25 | $73.8M | $291.3M | ||
| Q1 25 | $146.2M | — | ||
| Q4 24 | $59.7M | $249.4M | ||
| Q3 24 | $64.9M | $253.7M | ||
| Q2 24 | $61.5M | $228.5M |
| Q1 26 | — | $2.0B | ||
| Q4 25 | $1.9B | $1.3B | ||
| Q3 25 | $1.9B | $1.1B | ||
| Q2 25 | $1.9B | $1.1B | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.8B | $1.1B | ||
| Q3 24 | $1.8B | $1.1B | ||
| Q2 24 | $1.7B | $1.1B |
| Q1 26 | — | $2.2B | ||
| Q4 25 | $442.0M | $2.1B | ||
| Q3 25 | $519.2M | $2.1B | ||
| Q2 25 | $601.9M | $1.9B | ||
| Q1 25 | $680.7M | — | ||
| Q4 24 | $678.6M | $1.8B | ||
| Q3 24 | $672.2M | $1.8B | ||
| Q2 24 | $711.3M | $1.7B |
| Q1 26 | — | $5.6B | ||
| Q4 25 | $3.0B | $4.9B | ||
| Q3 25 | $3.2B | $4.4B | ||
| Q2 25 | $3.3B | $4.2B | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.3B | $4.0B | ||
| Q3 24 | $3.3B | $4.1B | ||
| Q2 24 | $3.2B | $4.0B |
| Q1 26 | — | 0.91× | ||
| Q4 25 | 4.25× | 0.63× | ||
| Q3 25 | 3.62× | 0.51× | ||
| Q2 25 | 3.09× | 0.55× | ||
| Q1 25 | 2.73× | — | ||
| Q4 24 | 2.61× | 0.60× | ||
| Q3 24 | 2.64× | 0.59× | ||
| Q2 24 | 2.42× | 0.63× |
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 | $47.0M | $46.9M |
| Free Cash FlowOCF − Capex | $36.9M | — |
| FCF MarginFCF / Revenue | 7.9% | — |
| Capex IntensityCapex / Revenue | 2.2% | — |
| Cash ConversionOCF / Net Profit | — | 0.95× |
| TTM Free Cash FlowTrailing 4 quarters | $-51.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $46.9M | ||
| Q4 25 | $47.0M | $81.5M | ||
| Q3 25 | $10.7M | $46.6M | ||
| Q2 25 | $-35.2M | $35.4M | ||
| Q1 25 | $-29.3M | — | ||
| Q4 24 | $-16.1M | $126.9M | ||
| Q3 24 | $-48.4M | $101.0M | ||
| Q2 24 | $-61.3M | $83.0M |
| Q1 26 | — | — | ||
| Q4 25 | $36.9M | $70.3M | ||
| Q3 25 | $481.0K | $37.4M | ||
| Q2 25 | $-46.0M | $28.1M | ||
| Q1 25 | $-42.4M | — | ||
| Q4 24 | $-39.0M | $102.2M | ||
| Q3 24 | $-63.5M | $90.4M | ||
| Q2 24 | $-72.2M | $74.0M |
| Q1 26 | — | — | ||
| Q4 25 | 7.9% | 9.7% | ||
| Q3 25 | 0.1% | 5.2% | ||
| Q2 25 | -9.6% | 4.1% | ||
| Q1 25 | -9.4% | — | ||
| Q4 24 | -7.9% | 15.2% | ||
| Q3 24 | -13.9% | 13.4% | ||
| Q2 24 | -16.9% | 10.5% |
| Q1 26 | — | — | ||
| Q4 25 | 2.2% | 1.5% | ||
| Q3 25 | 2.2% | 1.3% | ||
| Q2 25 | 2.3% | 1.1% | ||
| Q1 25 | 2.9% | — | ||
| Q4 24 | 4.6% | 3.7% | ||
| Q3 24 | 3.3% | 1.6% | ||
| Q2 24 | 2.6% | 1.3% |
| Q1 26 | — | 0.95× | ||
| Q4 25 | — | 1.49× | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | — | 0.53× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.36× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 1.00× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CODI
| Other | $119.5M | 26% |
| A5.11Tactical | $113.9M | 24% |
| Sterno Products | $85.9M | 18% |
| Altor | $60.8M | 13% |
| The Honey Pot | $36.0M | 8% |
| Arnold | $25.4M | 5% |
| Velocity Outdoor | $18.7M | 4% |
| Lugano | $8.3M | 2% |
ESAB
Segment breakdown not available.
