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Side-by-side financial comparison of ESAB Corp (ESAB) and F5, Inc. (FFIV). Click either name above to swap in a different company.
F5, Inc. is the larger business by last-quarter revenue ($811.7M vs $727.8M, roughly 1.1× ESAB Corp). F5, Inc. runs the higher net margin — 18.2% vs 7.5%, a 10.7% gap on every dollar of revenue. On growth, F5, Inc. posted the faster year-over-year revenue change (11.0% vs 8.5%). Over the past eight quarters, F5, Inc.'s revenue compounded faster (8.0% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
F5, Inc. is an American technology company specializing in application security, multi-cloud management, online fraud prevention, application delivery networking (ADN), application availability and performance, and network security, access, and authorization.
ESAB vs FFIV — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $811.7M |
| Net Profit | $54.8M | $148.0M |
| Gross Margin | 37.0% | 81.4% |
| Operating Margin | 14.6% | 22.1% |
| Net Margin | 7.5% | 18.2% |
| Revenue YoY | 8.5% | 11.0% |
| Net Profit YoY | 2.1% | 1.5% |
| EPS (diluted) | $0.90 | $2.58 |
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 | — | $811.7M | ||
| Q4 25 | $727.8M | $822.5M | ||
| Q3 25 | $715.6M | $810.1M | ||
| Q2 25 | $678.1M | $780.4M | ||
| Q1 25 | — | $731.1M | ||
| Q4 24 | $670.8M | $766.5M | ||
| Q3 24 | $673.3M | $746.7M | ||
| Q2 24 | $707.1M | $695.5M |
| Q1 26 | — | $148.0M | ||
| Q4 25 | $54.8M | $180.1M | ||
| Q3 25 | $66.9M | $190.5M | ||
| Q2 25 | $67.4M | $189.9M | ||
| Q1 25 | — | $145.5M | ||
| Q4 24 | $53.7M | $166.4M | ||
| Q3 24 | $68.2M | $165.3M | ||
| Q2 24 | $82.9M | $144.1M |
| Q1 26 | — | 81.4% | ||
| Q4 25 | 37.0% | 81.5% | ||
| Q3 25 | 37.2% | 82.2% | ||
| Q2 25 | 37.6% | 81.0% | ||
| Q1 25 | — | 80.7% | ||
| Q4 24 | 38.5% | 81.7% | ||
| Q3 24 | 37.7% | 80.8% | ||
| Q2 24 | 38.2% | 80.4% |
| Q1 26 | — | 22.1% | ||
| Q4 25 | 14.6% | 26.0% | ||
| Q3 25 | 15.2% | 25.4% | ||
| Q2 25 | 16.2% | 25.2% | ||
| Q1 25 | — | 21.7% | ||
| Q4 24 | 16.6% | 26.8% | ||
| Q3 24 | 15.7% | 25.6% | ||
| Q2 24 | 16.9% | 23.4% |
| Q1 26 | — | 18.2% | ||
| Q4 25 | 7.5% | 21.9% | ||
| Q3 25 | 9.3% | 23.5% | ||
| Q2 25 | 9.9% | 24.3% | ||
| Q1 25 | — | 19.9% | ||
| Q4 24 | 8.0% | 21.7% | ||
| Q3 24 | 10.1% | 22.1% | ||
| Q2 24 | 11.7% | 20.7% |
| Q1 26 | — | $2.58 | ||
| Q4 25 | $0.90 | $3.10 | ||
| Q3 25 | $1.09 | $3.25 | ||
| Q2 25 | $1.10 | $3.25 | ||
| Q1 25 | — | $2.48 | ||
| Q4 24 | $0.87 | $2.82 | ||
| Q3 24 | $1.11 | $2.79 | ||
| Q2 24 | $1.35 | $2.44 |
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 | $1.4B |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $2.1B | $3.6B |
| Total Assets | $4.9B | $6.5B |
| Debt / EquityLower = less leverage | 0.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.4B | ||
| Q4 25 | $218.2M | $1.2B | ||
| Q3 25 | $258.2M | $1.3B | ||
| Q2 25 | $291.3M | $1.4B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $249.4M | $1.2B | ||
| Q3 24 | $253.7M | $1.1B | ||
| Q2 24 | $228.5M | $935.6M |
| Q1 26 | — | — | ||
| 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 26 | — | $3.6B | ||
| Q4 25 | $2.1B | $3.5B | ||
| Q3 25 | $2.1B | $3.6B | ||
| Q2 25 | $1.9B | $3.5B | ||
| Q1 25 | — | $3.3B | ||
| Q4 24 | $1.8B | $3.2B | ||
| Q3 24 | $1.8B | $3.1B | ||
| Q2 24 | $1.7B | $3.0B |
| Q1 26 | — | $6.5B | ||
| Q4 25 | $4.9B | $6.3B | ||
| Q3 25 | $4.4B | $6.3B | ||
| Q2 25 | $4.2B | $6.1B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | $4.0B | $5.9B | ||
| Q3 24 | $4.1B | $5.6B | ||
| Q2 24 | $4.0B | $5.4B |
| Q1 26 | — | — | ||
| 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× | — |
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 | $525.1M |
| Free Cash FlowOCF − Capex | $70.3M | — |
| FCF MarginFCF / Revenue | 9.7% | — |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | 1.49× | 3.55× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $525.1M | ||
| Q4 25 | $81.5M | $159.2M | ||
| Q3 25 | $46.6M | $208.1M | ||
| Q2 25 | $35.4M | $282.2M | ||
| Q1 25 | — | $256.6M | ||
| Q4 24 | $126.9M | $202.8M | ||
| Q3 24 | $101.0M | $246.5M | ||
| Q2 24 | $83.0M | $159.0M |
| Q1 26 | — | — | ||
| Q4 25 | $70.3M | $149.5M | ||
| Q3 25 | $37.4M | $191.9M | ||
| Q2 25 | $28.1M | $273.7M | ||
| Q1 25 | — | $246.1M | ||
| Q4 24 | $102.2M | $194.7M | ||
| Q3 24 | $90.4M | $240.4M | ||
| Q2 24 | $74.0M | $153.1M |
| Q1 26 | — | — | ||
| Q4 25 | 9.7% | 18.2% | ||
| Q3 25 | 5.2% | 23.7% | ||
| Q2 25 | 4.1% | 35.1% | ||
| Q1 25 | — | 33.7% | ||
| Q4 24 | 15.2% | 25.4% | ||
| Q3 24 | 13.4% | 32.2% | ||
| Q2 24 | 10.5% | 22.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.5% | 1.2% | ||
| Q3 25 | 1.3% | 2.0% | ||
| Q2 25 | 1.1% | 1.1% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | 3.7% | 1.1% | ||
| Q3 24 | 1.6% | 0.8% | ||
| Q2 24 | 1.3% | 0.8% |
| Q1 26 | — | 3.55× | ||
| Q4 25 | 1.49× | 0.88× | ||
| Q3 25 | 0.70× | 1.09× | ||
| Q2 25 | 0.53× | 1.49× | ||
| Q1 25 | — | 1.76× | ||
| Q4 24 | 2.36× | 1.22× | ||
| Q3 24 | 1.48× | 1.49× | ||
| Q2 24 | 1.00× | 1.10× |
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% |
FFIV
Segment breakdown not available.
