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Side-by-side financial comparison of ESAB Corp (ESAB) and Element Solutions Inc (ESI). Click either name above to swap in a different company.
Element Solutions Inc is the larger business by last-quarter revenue ($840.0M vs $727.8M, roughly 1.2× ESAB Corp). ESAB Corp runs the higher net margin — 7.5% vs 6.7%, a 0.9% gap on every dollar of revenue. On growth, Element Solutions Inc posted the faster year-over-year revenue change (41.0% vs 8.5%). ESAB Corp produced more free cash flow last quarter ($70.3M vs $-74.2M). Over the past eight quarters, Element Solutions Inc's revenue compounded faster (17.1% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Element Solutions Inc is an American specialty chemicals production corporation listed on the New York Stock Exchange.
ESAB vs ESI — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $840.0M |
| Net Profit | $54.8M | $56.0M |
| Gross Margin | 37.0% | 38.4% |
| Operating Margin | 14.6% | 13.3% |
| Net Margin | 7.5% | 6.7% |
| Revenue YoY | 8.5% | 41.0% |
| Net Profit YoY | 2.1% | -43.0% |
| EPS (diluted) | $0.90 | $0.23 |
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 | — | $840.0M | ||
| Q4 25 | $727.8M | $676.2M | ||
| Q3 25 | $715.6M | $656.1M | ||
| Q2 25 | $678.1M | $625.2M | ||
| Q1 25 | — | $593.7M | ||
| Q4 24 | $670.8M | $624.2M | ||
| Q3 24 | $673.3M | $645.0M | ||
| Q2 24 | $707.1M | $612.7M |
| Q1 26 | — | $56.0M | ||
| Q4 25 | $54.8M | $6.2M | ||
| Q3 25 | $66.9M | $39.3M | ||
| Q2 25 | $67.4M | $47.4M | ||
| Q1 25 | — | $98.0M | ||
| Q4 24 | $53.7M | $54.7M | ||
| Q3 24 | $68.2M | $40.3M | ||
| Q2 24 | $82.9M | $93.2M |
| Q1 26 | — | 38.4% | ||
| Q4 25 | 37.0% | 40.9% | ||
| Q3 25 | 37.2% | 42.2% | ||
| Q2 25 | 37.6% | 42.6% | ||
| Q1 25 | — | 42.2% | ||
| Q4 24 | 38.5% | 41.0% | ||
| Q3 24 | 37.7% | 41.5% | ||
| Q2 24 | 38.2% | 43.6% |
| Q1 26 | — | 13.3% | ||
| Q4 25 | 14.6% | 10.3% | ||
| Q3 25 | 15.2% | 15.4% | ||
| Q2 25 | 16.2% | 15.1% | ||
| Q1 25 | — | 13.0% | ||
| Q4 24 | 16.6% | 12.0% | ||
| Q3 24 | 15.7% | 14.7% | ||
| Q2 24 | 16.9% | 15.7% |
| Q1 26 | — | 6.7% | ||
| Q4 25 | 7.5% | 0.9% | ||
| Q3 25 | 9.3% | 6.0% | ||
| Q2 25 | 9.9% | 7.6% | ||
| Q1 25 | — | 16.5% | ||
| Q4 24 | 8.0% | 8.8% | ||
| Q3 24 | 10.1% | 6.2% | ||
| Q2 24 | 11.7% | 15.2% |
| Q1 26 | — | $0.23 | ||
| Q4 25 | $0.90 | $0.03 | ||
| Q3 25 | $1.09 | $0.16 | ||
| Q2 25 | $1.10 | $0.20 | ||
| Q1 25 | — | $0.40 | ||
| Q4 24 | $0.87 | $0.22 | ||
| Q3 24 | $1.11 | $0.17 | ||
| Q2 24 | $1.35 | $0.39 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $218.2M | $177.3M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $2.1B | $2.7B |
| Total Assets | $4.9B | $5.7B |
| Debt / EquityLower = less leverage | 0.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $177.3M | ||
| Q4 25 | $218.2M | $626.5M | ||
| Q3 25 | $258.2M | $594.3M | ||
| Q2 25 | $291.3M | $529.9M | ||
| Q1 25 | — | $499.2M | ||
| Q4 24 | $249.4M | $359.4M | ||
| Q3 24 | $253.7M | $376.0M | ||
| Q2 24 | $228.5M | $309.3M |
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $1.6B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $1.1B | $1.6B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | $1.1B | $1.8B | ||
| Q3 24 | $1.1B | $1.9B | ||
| Q2 24 | $1.1B | $1.9B |
| Q1 26 | — | $2.7B | ||
| Q4 25 | $2.1B | $2.7B | ||
| Q3 25 | $2.1B | $2.7B | ||
| Q2 25 | $1.9B | $2.6B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | $1.8B | $2.4B | ||
| Q3 24 | $1.8B | $2.4B | ||
| Q2 24 | $1.7B | $2.4B |
| Q1 26 | — | $5.7B | ||
| Q4 25 | $4.9B | $5.1B | ||
| Q3 25 | $4.4B | $5.0B | ||
| Q2 25 | $4.2B | $5.0B | ||
| Q1 25 | — | $4.8B | ||
| Q4 24 | $4.0B | $4.9B | ||
| Q3 24 | $4.1B | $5.1B | ||
| Q2 24 | $4.0B | $5.0B |
| Q1 26 | — | — | ||
| Q4 25 | 0.63× | 0.61× | ||
| Q3 25 | 0.51× | 0.61× | ||
| Q2 25 | 0.55× | 0.62× | ||
| Q1 25 | — | 0.64× | ||
| Q4 24 | 0.60× | 0.76× | ||
| Q3 24 | 0.59× | 0.78× | ||
| Q2 24 | 0.63× | 0.81× |
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 | $81.5M | — |
| Free Cash FlowOCF − Capex | $70.3M | $-74.2M |
| FCF MarginFCF / Revenue | 9.7% | -8.8% |
| Capex IntensityCapex / Revenue | 1.5% | 3.0% |
| Cash ConversionOCF / Net Profit | 1.49× | — |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $81.5M | — | ||
| Q3 25 | $46.6M | $100.1M | ||
| Q2 25 | $35.4M | — | ||
| Q1 25 | — | $26.0M | ||
| Q4 24 | $126.9M | — | ||
| Q3 24 | $101.0M | $98.5M | ||
| Q2 24 | $83.0M | — |
| Q1 26 | — | $-74.2M | ||
| Q4 25 | $70.3M | — | ||
| Q3 25 | $37.4M | $83.6M | ||
| Q2 25 | $28.1M | — | ||
| Q1 25 | — | $15.0M | ||
| Q4 24 | $102.2M | — | ||
| Q3 24 | $90.4M | $85.9M | ||
| Q2 24 | $74.0M | — |
| Q1 26 | — | -8.8% | ||
| Q4 25 | 9.7% | — | ||
| Q3 25 | 5.2% | 12.7% | ||
| Q2 25 | 4.1% | — | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | 15.2% | — | ||
| Q3 24 | 13.4% | 13.3% | ||
| Q2 24 | 10.5% | — |
| Q1 26 | — | 3.0% | ||
| Q4 25 | 1.5% | 2.5% | ||
| Q3 25 | 1.3% | 2.5% | ||
| Q2 25 | 1.1% | 2.8% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | 3.7% | 3.6% | ||
| Q3 24 | 1.6% | 2.0% | ||
| Q2 24 | 1.3% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.49× | — | ||
| Q3 25 | 0.70× | 2.55× | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | 2.36× | — | ||
| Q3 24 | 1.48× | 2.44× | ||
| Q2 24 | 1.00× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESAB
| Consumable Products | $477.9M | 66% |
| Equipment Products | $249.9M | 34% |
ESI
| Electronics ex-Metals | $377.8M | 45% |
| Pass-through Metals | $255.7M | 30% |
| Other | $206.5M | 25% |
