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Side-by-side financial comparison of ESAB Corp (ESAB) and Howard Hughes Holdings Inc. (HHH). Click either name above to swap in a different company.
ESAB Corp is the larger business by last-quarter revenue ($727.8M vs $624.4M, roughly 1.2× Howard Hughes Holdings Inc.). ESAB Corp runs the higher net margin — 7.5% vs 1.0%, a 6.6% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs -33.2%). Howard Hughes Holdings Inc. produced more free cash flow last quarter ($348.6M vs $70.3M). Over the past eight quarters, Howard Hughes Holdings Inc.'s revenue compounded faster (91.0% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Howard Hughes Holdings Inc., formerly the Howard Hughes Corporation, is a real estate development and management company based in The Woodlands, Texas. It was formed in 2010 as a spin-off from General Growth Properties (GGP). Most of its holdings are focused on several master-planned communities. It took its name from the original Howard Hughes Corporation, which had developed the planned community of Summerlin, Nevada, and later became a subsidiary of GGP.
ESAB vs HHH — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $624.4M |
| Net Profit | $54.8M | $6.0M |
| Gross Margin | 37.0% | — |
| Operating Margin | 14.6% | 4.2% |
| Net Margin | 7.5% | 1.0% |
| Revenue YoY | 8.5% | -33.2% |
| Net Profit YoY | 2.1% | -96.2% |
| EPS (diluted) | $0.90 | $0.20 |
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 | $624.4M | ||
| Q3 25 | $715.6M | $390.2M | ||
| Q2 25 | $678.1M | $260.9M | ||
| Q1 25 | — | $199.3M | ||
| Q4 24 | $670.8M | $935.0M | ||
| Q3 24 | $673.3M | $327.1M | ||
| Q2 24 | $707.1M | $317.4M | ||
| Q1 24 | $689.7M | $171.1M |
| Q4 25 | $54.8M | $6.0M | ||
| Q3 25 | $66.9M | $119.5M | ||
| Q2 25 | $67.4M | $-12.1M | ||
| Q1 25 | — | $10.5M | ||
| Q4 24 | $53.7M | $156.3M | ||
| Q3 24 | $68.2M | $72.8M | ||
| Q2 24 | $82.9M | $21.1M | ||
| Q1 24 | $60.0M | $-52.5M |
| 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% | 4.2% | ||
| Q3 25 | 15.2% | 48.6% | ||
| Q2 25 | 16.2% | 26.0% | ||
| Q1 25 | — | 24.0% | ||
| Q4 24 | 16.6% | 33.5% | ||
| Q3 24 | 15.7% | 60.6% | ||
| Q2 24 | 16.9% | 20.4% | ||
| Q1 24 | 16.0% | -9.8% |
| Q4 25 | 7.5% | 1.0% | ||
| Q3 25 | 9.3% | 30.6% | ||
| Q2 25 | 9.9% | -4.7% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | 8.0% | 16.7% | ||
| Q3 24 | 10.1% | 22.2% | ||
| Q2 24 | 11.7% | 6.6% | ||
| Q1 24 | 8.7% | -30.7% |
| Q4 25 | $0.90 | $0.20 | ||
| Q3 25 | $1.09 | $2.02 | ||
| Q2 25 | $1.10 | $-0.22 | ||
| Q1 25 | — | $0.21 | ||
| Q4 24 | $0.87 | $3.14 | ||
| Q3 24 | $1.11 | $1.46 | ||
| Q2 24 | $1.35 | $0.42 | ||
| Q1 24 | $0.98 | $-1.06 |
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 | $1.5B |
| Total DebtLower is stronger | $1.3B | $5.1B |
| Stockholders' EquityBook value | $2.1B | $3.8B |
| Total Assets | $4.9B | $10.6B |
| Debt / EquityLower = less leverage | 0.63× | 1.35× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $1.5B | ||
| Q3 25 | $258.2M | $1.5B | ||
| Q2 25 | $291.3M | $1.4B | ||
| Q1 25 | — | $493.7M | ||
| Q4 24 | $249.4M | $596.1M | ||
| Q3 24 | $253.7M | $400.7M | ||
| Q2 24 | $228.5M | $436.8M | ||
| Q1 24 | $76.5M | $462.7M |
| Q4 25 | $1.3B | $5.1B | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.1B | $5.1B | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $992.8M | — |
| Q4 25 | $2.1B | $3.8B | ||
| Q3 25 | $2.1B | $3.8B | ||
| Q2 25 | $1.9B | $3.6B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $1.8B | $2.8B | ||
| Q3 24 | $1.8B | $2.6B | ||
| Q2 24 | $1.7B | $3.0B | ||
| Q1 24 | $1.6B | $2.9B |
| Q4 25 | $4.9B | $10.6B | ||
| Q3 25 | $4.4B | $10.7B | ||
| Q2 25 | $4.2B | $10.3B | ||
| Q1 25 | — | $9.3B | ||
| Q4 24 | $4.0B | $9.2B | ||
| Q3 24 | $4.1B | $9.4B | ||
| Q2 24 | $4.0B | $9.9B | ||
| Q1 24 | $3.8B | $9.6B |
| Q4 25 | 0.63× | 1.35× | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 0.55× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.60× | 1.85× | ||
| 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 | $360.3M |
| Free Cash FlowOCF − Capex | $70.3M | $348.6M |
| FCF MarginFCF / Revenue | 9.7% | 55.8% |
| Capex IntensityCapex / Revenue | 1.5% | 1.9% |
| Cash ConversionOCF / Net Profit | 1.49× | 60.04× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $417.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $360.3M | ||
| Q3 25 | $46.6M | $149.8M | ||
| Q2 25 | $35.4M | $177.3M | ||
| Q1 25 | — | $-224.9M | ||
| Q4 24 | $126.9M | $337.1M | ||
| Q3 24 | $101.0M | $248.3M | ||
| Q2 24 | $83.0M | $-17.5M | ||
| Q1 24 | $44.5M | $-171.2M |
| Q4 25 | $70.3M | $348.6M | ||
| Q3 25 | $37.4M | $137.7M | ||
| Q2 25 | $28.1M | $169.7M | ||
| Q1 25 | — | $-238.4M | ||
| Q4 24 | $102.2M | $317.1M | ||
| Q3 24 | $90.4M | $238.7M | ||
| Q2 24 | $74.0M | $-25.1M | ||
| Q1 24 | $37.1M | $-182.0M |
| Q4 25 | 9.7% | 55.8% | ||
| Q3 25 | 5.2% | 35.3% | ||
| Q2 25 | 4.1% | 65.1% | ||
| Q1 25 | — | -119.6% | ||
| Q4 24 | 15.2% | 33.9% | ||
| Q3 24 | 13.4% | 73.0% | ||
| Q2 24 | 10.5% | -7.9% | ||
| Q1 24 | 5.4% | -106.4% |
| Q4 25 | 1.5% | 1.9% | ||
| Q3 25 | 1.3% | 3.1% | ||
| Q2 25 | 1.1% | 2.9% | ||
| Q1 25 | — | 6.8% | ||
| Q4 24 | 3.7% | 2.1% | ||
| Q3 24 | 1.6% | 2.9% | ||
| Q2 24 | 1.3% | 2.4% | ||
| Q1 24 | 1.1% | 6.3% |
| Q4 25 | 1.49× | 60.04× | ||
| Q3 25 | 0.70× | 1.25× | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | — | -21.35× | ||
| Q4 24 | 2.36× | 2.16× | ||
| Q3 24 | 1.48× | 3.41× | ||
| Q2 24 | 1.00× | -0.83× | ||
| Q1 24 | 0.74× | — |
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% |
HHH
| Transferred At Point In Time | $499.8M | 80% |
| Operating Assets Segment | $117.9M | 19% |
| Builder Price Participation | $12.9M | 2% |
