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Side-by-side financial comparison of ESAB Corp (ESAB) and Graham Holdings Co (GHC). Click either name above to swap in a different company.
Graham Holdings Co is the larger business by last-quarter revenue ($1.3B vs $727.8M, roughly 1.7× ESAB Corp). Graham Holdings Co runs the higher net margin — 8.7% vs 7.5%, a 1.2% 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 $5.0M). Over the past eight quarters, Graham Holdings Co's revenue compounded faster (4.2% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Graham Holdings Company is a diversified American conglomerate holding company. Headquartered in Arlington County, Virginia, and incorporated in Delaware, it was formerly the owner of The Washington Post newspaper and Newsweek magazine.
ESAB vs GHC — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $1.3B |
| Net Profit | $54.8M | $108.7M |
| Gross Margin | 37.0% | — |
| Operating Margin | 14.6% | 3.8% |
| Net Margin | 7.5% | 8.7% |
| Revenue YoY | 8.5% | 0.4% |
| Net Profit YoY | 2.1% | -80.2% |
| EPS (diluted) | $0.90 | $24.76 |
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 | $1.3B | ||
| Q3 25 | $715.6M | $1.3B | ||
| Q2 25 | $678.1M | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $670.8M | $1.2B | ||
| Q3 24 | $673.3M | $1.2B | ||
| Q2 24 | $707.1M | $1.2B | ||
| Q1 24 | $689.7M | $1.2B |
| Q4 25 | $54.8M | $108.7M | ||
| Q3 25 | $66.9M | $122.9M | ||
| Q2 25 | $67.4M | $36.7M | ||
| Q1 25 | — | $23.9M | ||
| Q4 24 | $53.7M | $548.8M | ||
| Q3 24 | $68.2M | $72.5M | ||
| Q2 24 | $82.9M | $-21.0M | ||
| Q1 24 | $60.0M | $124.4M |
| 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% | 3.8% | ||
| Q3 25 | 15.2% | 5.2% | ||
| Q2 25 | 16.2% | 6.0% | ||
| Q1 25 | — | 4.1% | ||
| Q4 24 | 16.6% | 5.8% | ||
| Q3 24 | 15.7% | 6.8% | ||
| Q2 24 | 16.9% | 2.2% | ||
| Q1 24 | 16.0% | 3.1% |
| Q4 25 | 7.5% | 8.7% | ||
| Q3 25 | 9.3% | 9.6% | ||
| Q2 25 | 9.9% | 3.0% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | 8.0% | 44.1% | ||
| Q3 24 | 10.1% | 6.0% | ||
| Q2 24 | 11.7% | -1.8% | ||
| Q1 24 | 8.7% | 10.8% |
| Q4 25 | $0.90 | $24.76 | ||
| Q3 25 | $1.09 | $27.91 | ||
| Q2 25 | $1.10 | $8.35 | ||
| Q1 25 | — | $5.45 | ||
| Q4 24 | $0.87 | $124.05 | ||
| Q3 24 | $1.11 | $16.42 | ||
| Q2 24 | $1.35 | $-4.79 | ||
| Q1 24 | $0.98 | $27.72 |
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 | $267.0M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $2.1B | $4.8B |
| Total Assets | $4.9B | $8.4B |
| Debt / EquityLower = less leverage | 0.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $267.0M | ||
| Q3 25 | $258.2M | $190.8M | ||
| Q2 25 | $291.3M | $176.2M | ||
| Q1 25 | — | $156.7M | ||
| Q4 24 | $249.4M | $260.9M | ||
| Q3 24 | $253.7M | $244.4M | ||
| Q2 24 | $228.5M | $140.7M | ||
| Q1 24 | $76.5M | $130.9M |
| 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 | $4.8B | ||
| Q3 25 | $2.1B | $4.5B | ||
| Q2 25 | $1.9B | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | $1.8B | $4.3B | ||
| Q3 24 | $1.8B | $4.0B | ||
| Q2 24 | $1.7B | $4.0B | ||
| Q1 24 | $1.6B | $4.0B |
| Q4 25 | $4.9B | $8.4B | ||
| Q3 25 | $4.4B | $7.9B | ||
| Q2 25 | $4.2B | $7.6B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | $4.0B | $7.7B | ||
| Q3 24 | $4.1B | $7.4B | ||
| Q2 24 | $4.0B | $7.2B | ||
| Q1 24 | $3.8B | $7.3B |
| 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 | $28.3M |
| Free Cash FlowOCF − Capex | $70.3M | $5.0M |
| FCF MarginFCF / Revenue | 9.7% | 0.4% |
| Capex IntensityCapex / Revenue | 1.5% | 1.9% |
| Cash ConversionOCF / Net Profit | 1.49× | 0.26× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $275.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $28.3M | ||
| Q3 25 | $46.6M | $178.1M | ||
| Q2 25 | $35.4M | $94.8M | ||
| Q1 25 | — | $46.0M | ||
| Q4 24 | $126.9M | $116.3M | ||
| Q3 24 | $101.0M | $237.6M | ||
| Q2 24 | $83.0M | $52.0M | ||
| Q1 24 | $44.5M | $1.1M |
| Q4 25 | $70.3M | $5.0M | ||
| Q3 25 | $37.4M | $161.8M | ||
| Q2 25 | $28.1M | $78.0M | ||
| Q1 25 | — | $30.5M | ||
| Q4 24 | $102.2M | $91.1M | ||
| Q3 24 | $90.4M | $219.4M | ||
| Q2 24 | $74.0M | $33.7M | ||
| Q1 24 | $37.1M | $-20.2M |
| Q4 25 | 9.7% | 0.4% | ||
| Q3 25 | 5.2% | 12.6% | ||
| Q2 25 | 4.1% | 6.4% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | 15.2% | 7.3% | ||
| Q3 24 | 13.4% | 18.2% | ||
| Q2 24 | 10.5% | 2.8% | ||
| Q1 24 | 5.4% | -1.8% |
| Q4 25 | 1.5% | 1.9% | ||
| Q3 25 | 1.3% | 1.3% | ||
| Q2 25 | 1.1% | 1.4% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | 3.7% | 2.0% | ||
| Q3 24 | 1.6% | 1.5% | ||
| Q2 24 | 1.3% | 1.5% | ||
| Q1 24 | 1.1% | 1.8% |
| Q4 25 | 1.49× | 0.26× | ||
| Q3 25 | 0.70× | 1.45× | ||
| Q2 25 | 0.53× | 2.58× | ||
| Q1 25 | — | 1.93× | ||
| Q4 24 | 2.36× | 0.21× | ||
| Q3 24 | 1.48× | 3.28× | ||
| Q2 24 | 1.00× | — | ||
| Q1 24 | 0.74× | 0.01× |
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% |
GHC
| Products | $602.7M | 48% |
| Kaplan International | $251.9M | 20% |
| Manufacturing | $117.8M | 9% |
| Television Broadcasting | $110.5M | 9% |
| Higher Education | $83.8M | 7% |
| Supplemental Education | $74.9M | 6% |
| Related Party | $4.4M | 0% |
