vs
Side-by-side financial comparison of ESAB Corp (ESAB) and EAGLE MATERIALS INC (EXP). Click either name above to swap in a different company.
ESAB Corp is the larger business by last-quarter revenue ($727.8M vs $556.0M, roughly 1.3× EAGLE MATERIALS INC). EAGLE MATERIALS INC runs the higher net margin — 18.5% vs 7.5%, a 11.0% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs -0.4%). ESAB Corp produced more free cash flow last quarter ($70.3M vs $60.8M). Over the past eight quarters, EAGLE MATERIALS INC's revenue compounded faster (8.0% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Eagle Materials Inc. is an American producer of building materials based in Dallas, Texas. The company produces cement, concrete, construction aggregate, gypsum, wallboard, paperboard, and sand for hydraulic fracturing.
ESAB vs EXP — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $556.0M |
| Net Profit | $54.8M | $102.9M |
| Gross Margin | 37.0% | 28.9% |
| Operating Margin | 14.6% | — |
| Net Margin | 7.5% | 18.5% |
| Revenue YoY | 8.5% | -0.4% |
| Net Profit YoY | 2.1% | -13.9% |
| EPS (diluted) | $0.90 | $3.22 |
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 | $727.8M | $556.0M | ||
| Q3 25 | $715.6M | $638.9M | ||
| Q2 25 | $678.1M | $634.7M | ||
| Q1 25 | — | $470.2M | ||
| Q4 24 | $670.8M | $558.0M | ||
| Q3 24 | $673.3M | $623.6M | ||
| Q2 24 | $707.1M | $608.7M | ||
| Q1 24 | $689.7M | $476.7M |
| Q4 25 | $54.8M | $102.9M | ||
| Q3 25 | $66.9M | $137.4M | ||
| Q2 25 | $67.4M | $123.4M | ||
| Q1 25 | — | $66.5M | ||
| Q4 24 | $53.7M | $119.6M | ||
| Q3 24 | $68.2M | $143.5M | ||
| Q2 24 | $82.9M | $133.8M | ||
| Q1 24 | $60.0M | $77.1M |
| Q4 25 | 37.0% | 28.9% | ||
| Q3 25 | 37.2% | 31.3% | ||
| Q2 25 | 37.6% | 29.2% | ||
| Q1 25 | — | 22.2% | ||
| Q4 24 | 38.5% | 31.9% | ||
| Q3 24 | 37.7% | 32.7% | ||
| Q2 24 | 38.2% | 30.7% | ||
| Q1 24 | 37.0% | 25.1% |
| Q4 25 | 14.6% | — | ||
| Q3 25 | 15.2% | — | ||
| Q2 25 | 16.2% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 16.6% | 32.8% | ||
| Q3 24 | 15.7% | 34.2% | ||
| Q2 24 | 16.9% | 32.0% | ||
| Q1 24 | 16.0% | 26.9% |
| Q4 25 | 7.5% | 18.5% | ||
| Q3 25 | 9.3% | 21.5% | ||
| Q2 25 | 9.9% | 19.4% | ||
| Q1 25 | — | 14.1% | ||
| Q4 24 | 8.0% | 21.4% | ||
| Q3 24 | 10.1% | 23.0% | ||
| Q2 24 | 11.7% | 22.0% | ||
| Q1 24 | 8.7% | 16.2% |
| Q4 25 | $0.90 | $3.22 | ||
| Q3 25 | $1.09 | $4.23 | ||
| Q2 25 | $1.10 | $3.76 | ||
| Q1 25 | — | $2.01 | ||
| Q4 24 | $0.87 | $3.56 | ||
| Q3 24 | $1.11 | $4.26 | ||
| Q2 24 | $1.35 | $3.94 | ||
| Q1 24 | $0.98 | $2.23 |
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 | $419.0M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $2.1B | $1.5B |
| Total Assets | $4.9B | $3.8B |
| Debt / EquityLower = less leverage | 0.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $419.0M | ||
| Q3 25 | $258.2M | $35.0M | ||
| Q2 25 | $291.3M | $59.7M | ||
| Q1 25 | — | $20.4M | ||
| Q4 24 | $249.4M | $31.2M | ||
| Q3 24 | $253.7M | $93.9M | ||
| Q2 24 | $228.5M | $46.5M | ||
| Q1 24 | $76.5M | $34.9M |
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $992.8M | $1.1B |
| Q4 25 | $2.1B | $1.5B | ||
| Q3 25 | $2.1B | $1.5B | ||
| Q2 25 | $1.9B | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | $1.8B | $1.5B | ||
| Q3 24 | $1.8B | $1.4B | ||
| Q2 24 | $1.7B | $1.4B | ||
| Q1 24 | $1.6B | $1.3B |
| Q4 25 | $4.9B | $3.8B | ||
| Q3 25 | $4.4B | $3.4B | ||
| Q2 25 | $4.2B | $3.4B | ||
| Q1 25 | — | $3.3B | ||
| Q4 24 | $4.0B | $3.0B | ||
| Q3 24 | $4.1B | $3.1B | ||
| Q2 24 | $4.0B | $3.0B | ||
| Q1 24 | $3.8B | $2.9B |
| Q4 25 | 0.63× | — | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 0.55× | — | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | 0.60× | — | ||
| Q3 24 | 0.59× | — | ||
| Q2 24 | 0.63× | — | ||
| Q1 24 | 0.61× | 0.84× |
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 | $170.8M |
| Free Cash FlowOCF − Capex | $70.3M | $60.8M |
| FCF MarginFCF / Revenue | 9.7% | 10.9% |
| Capex IntensityCapex / Revenue | 1.5% | 19.8% |
| Cash ConversionOCF / Net Profit | 1.49× | 1.66× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $231.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $170.8M | ||
| Q3 25 | $46.6M | $204.6M | ||
| Q2 25 | $35.4M | $136.6M | ||
| Q1 25 | — | $62.8M | ||
| Q4 24 | $126.9M | $119.9M | ||
| Q3 24 | $101.0M | $233.3M | ||
| Q2 24 | $83.0M | $132.6M | ||
| Q1 24 | $44.5M | $63.4M |
| Q4 25 | $70.3M | $60.8M | ||
| Q3 25 | $37.4M | $96.1M | ||
| Q2 25 | $28.1M | $60.5M | ||
| Q1 25 | — | $14.5M | ||
| Q4 24 | $102.2M | $72.5M | ||
| Q3 24 | $90.4M | $166.8M | ||
| Q2 24 | $74.0M | $99.5M | ||
| Q1 24 | $37.1M | $30.9M |
| Q4 25 | 9.7% | 10.9% | ||
| Q3 25 | 5.2% | 15.0% | ||
| Q2 25 | 4.1% | 9.5% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | 15.2% | 13.0% | ||
| Q3 24 | 13.4% | 26.7% | ||
| Q2 24 | 10.5% | 16.3% | ||
| Q1 24 | 5.4% | 6.5% |
| Q4 25 | 1.5% | 19.8% | ||
| Q3 25 | 1.3% | 17.0% | ||
| Q2 25 | 1.1% | 12.0% | ||
| Q1 25 | — | 10.3% | ||
| Q4 24 | 3.7% | 8.5% | ||
| Q3 24 | 1.6% | 10.7% | ||
| Q2 24 | 1.3% | 5.4% | ||
| Q1 24 | 1.1% | 6.8% |
| Q4 25 | 1.49× | 1.66× | ||
| Q3 25 | 0.70× | 1.49× | ||
| Q2 25 | 0.53× | 1.11× | ||
| Q1 25 | — | 0.94× | ||
| Q4 24 | 2.36× | 1.00× | ||
| Q3 24 | 1.48× | 1.63× | ||
| Q2 24 | 1.00× | 0.99× | ||
| Q1 24 | 0.74× | 0.82× |
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% |
EXP
| External Customers | $283.5M | 51% |
| Gypsum Wallboard | $175.9M | 32% |
| Recycled Paperboard | $47.8M | 9% |
| Corporate Joint Venture | $29.4M | 5% |
| Other | $11.8M | 2% |
| Western Pennsylvania Acquisition | $7.6M | 1% |
