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Side-by-side financial comparison of ESAB Corp (ESAB) and FIRST HORIZON CORP (FHN). Click either name above to swap in a different company.
FIRST HORIZON CORP is the larger business by last-quarter revenue ($888.0M vs $727.8M, roughly 1.2× ESAB Corp). FIRST HORIZON CORP runs the higher net margin — 29.4% vs 7.5%, a 21.9% gap on every dollar of revenue. On growth, FIRST HORIZON CORP posted the faster year-over-year revenue change (21.8% vs 8.5%). FIRST HORIZON CORP produced more free cash flow last quarter ($389.0M vs $70.3M). Over the past eight quarters, FIRST HORIZON CORP's revenue compounded faster (20.0% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
ESAB vs FHN — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $888.0M |
| Net Profit | $54.8M | $261.0M |
| Gross Margin | 37.0% | — |
| Operating Margin | 14.6% | 38.5% |
| Net Margin | 7.5% | 29.4% |
| Revenue YoY | 8.5% | 21.8% |
| Net Profit YoY | 2.1% | 57.2% |
| EPS (diluted) | $0.90 | $0.51 |
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 | $888.0M | ||
| Q3 25 | $715.6M | $889.0M | ||
| Q2 25 | $678.1M | $830.0M | ||
| Q1 25 | — | $812.0M | ||
| Q4 24 | $670.8M | $729.0M | ||
| Q3 24 | $673.3M | $827.0M | ||
| Q2 24 | $707.1M | — | ||
| Q1 24 | $689.7M | $819.0M |
| Q4 25 | $54.8M | $261.0M | ||
| Q3 25 | $66.9M | $262.0M | ||
| Q2 25 | $67.4M | $241.0M | ||
| Q1 25 | — | $218.0M | ||
| Q4 24 | $53.7M | $166.0M | ||
| Q3 24 | $68.2M | $218.0M | ||
| Q2 24 | $82.9M | — | ||
| Q1 24 | $60.0M | $192.0M |
| Q4 25 | 37.0% | — | ||
| Q3 25 | 37.2% | — | ||
| Q2 25 | 37.6% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 38.5% | — | ||
| Q3 24 | 37.7% | — | ||
| Q2 24 | 38.2% | — | ||
| Q1 24 | 37.0% | — |
| Q4 25 | 14.6% | 38.5% | ||
| Q3 25 | 15.2% | 38.7% | ||
| Q2 25 | 16.2% | 37.2% | ||
| Q1 25 | — | 35.1% | ||
| Q4 24 | 16.6% | 28.8% | ||
| Q3 24 | 15.7% | 34.0% | ||
| Q2 24 | 16.9% | — | ||
| Q1 24 | 16.0% | 31.0% |
| Q4 25 | 7.5% | 29.4% | ||
| Q3 25 | 9.3% | 29.5% | ||
| Q2 25 | 9.9% | 29.0% | ||
| Q1 25 | — | 26.8% | ||
| Q4 24 | 8.0% | 22.8% | ||
| Q3 24 | 10.1% | 26.4% | ||
| Q2 24 | 11.7% | — | ||
| Q1 24 | 8.7% | 23.4% |
| Q4 25 | $0.90 | $0.51 | ||
| Q3 25 | $1.09 | $0.50 | ||
| Q2 25 | $1.10 | $0.45 | ||
| Q1 25 | — | $0.41 | ||
| Q4 24 | $0.87 | $0.29 | ||
| Q3 24 | $1.11 | $0.40 | ||
| Q2 24 | $1.35 | — | ||
| Q1 24 | $0.98 | $0.33 |
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 | — |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $2.1B | $8.8B |
| Total Assets | $4.9B | $83.9B |
| Debt / EquityLower = less leverage | 0.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | — | ||
| Q3 25 | $258.2M | — | ||
| Q2 25 | $291.3M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $249.4M | — | ||
| Q3 24 | $253.7M | — | ||
| Q2 24 | $228.5M | — | ||
| Q1 24 | $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 | $2.1B | $8.8B | ||
| Q3 25 | $2.1B | $8.9B | ||
| Q2 25 | $1.9B | $9.0B | ||
| Q1 25 | — | $8.7B | ||
| Q4 24 | $1.8B | $8.8B | ||
| Q3 24 | $1.8B | $9.0B | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.6B | $8.9B |
| Q4 25 | $4.9B | $83.9B | ||
| Q3 25 | $4.4B | $83.2B | ||
| Q2 25 | $4.2B | $82.1B | ||
| Q1 25 | — | $81.5B | ||
| Q4 24 | $4.0B | $82.2B | ||
| Q3 24 | $4.1B | $82.6B | ||
| Q2 24 | $4.0B | — | ||
| Q1 24 | $3.8B | $81.8B |
| 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 | $81.5M | $396.0M |
| Free Cash FlowOCF − Capex | $70.3M | $389.0M |
| FCF MarginFCF / Revenue | 9.7% | 43.8% |
| Capex IntensityCapex / Revenue | 1.5% | 0.8% |
| Cash ConversionOCF / Net Profit | 1.49× | 1.52× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $595.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $396.0M | ||
| Q3 25 | $46.6M | $-200.0M | ||
| Q2 25 | $35.4M | $83.0M | ||
| Q1 25 | — | $349.0M | ||
| Q4 24 | $126.9M | $191.0M | ||
| Q3 24 | $101.0M | $389.0M | ||
| Q2 24 | $83.0M | — | ||
| Q1 24 | $44.5M | $838.0M |
| Q4 25 | $70.3M | $389.0M | ||
| Q3 25 | $37.4M | $-208.0M | ||
| Q2 25 | $28.1M | $74.0M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | $102.2M | $174.0M | ||
| Q3 24 | $90.4M | $383.0M | ||
| Q2 24 | $74.0M | — | ||
| Q1 24 | $37.1M | $828.0M |
| Q4 25 | 9.7% | 43.8% | ||
| Q3 25 | 5.2% | -23.4% | ||
| Q2 25 | 4.1% | 8.9% | ||
| Q1 25 | — | 41.9% | ||
| Q4 24 | 15.2% | 23.9% | ||
| Q3 24 | 13.4% | 46.3% | ||
| Q2 24 | 10.5% | — | ||
| Q1 24 | 5.4% | 101.1% |
| Q4 25 | 1.5% | 0.8% | ||
| Q3 25 | 1.3% | 0.9% | ||
| Q2 25 | 1.1% | 1.1% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | 3.7% | 2.3% | ||
| Q3 24 | 1.6% | 0.7% | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 1.1% | 1.2% |
| Q4 25 | 1.49× | 1.52× | ||
| Q3 25 | 0.70× | -0.76× | ||
| Q2 25 | 0.53× | 0.34× | ||
| Q1 25 | — | 1.60× | ||
| Q4 24 | 2.36× | 1.15× | ||
| Q3 24 | 1.48× | 1.78× | ||
| Q2 24 | 1.00× | — | ||
| Q1 24 | 0.74× | 4.36× |
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% |
FHN
| Commercial Consumer And Wealth Segment | $776.0M | 87% |
| Other | $88.0M | 10% |
| Corporate | $24.0M | 3% |
