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Side-by-side financial comparison of ESAB Corp (ESAB) and Koppers Holdings Inc. (KOP). Click either name above to swap in a different company.
ESAB Corp is the larger business by last-quarter revenue ($727.8M vs $432.7M, roughly 1.7× Koppers Holdings Inc.). ESAB Corp runs the higher net margin — 7.5% vs 6.9%, a 0.7% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs -9.3%). ESAB Corp produced more free cash flow last quarter ($70.3M vs $28.5M). Over the past eight quarters, ESAB Corp's revenue compounded faster (2.8% CAGR vs -6.7%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Koppers is a global chemical and materials company based in Pittsburgh, Pennsylvania, United States. Its headquarters is an art-deco 1920s skyscraper, the Koppers Tower.
ESAB vs KOP — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $432.7M |
| Net Profit | $54.8M | $29.7M |
| Gross Margin | 37.0% | 25.6% |
| Operating Margin | 14.6% | 11.5% |
| Net Margin | 7.5% | 6.9% |
| Revenue YoY | 8.5% | -9.3% |
| Net Profit YoY | 2.1% | 391.2% |
| EPS (diluted) | $0.90 | $1.44 |
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 | $432.7M | ||
| Q3 25 | $715.6M | $485.3M | ||
| Q2 25 | $678.1M | $504.8M | ||
| Q1 25 | — | $456.5M | ||
| Q4 24 | $670.8M | $477.0M | ||
| Q3 24 | $673.3M | $554.3M | ||
| Q2 24 | $707.1M | $563.2M | ||
| Q1 24 | $689.7M | $497.6M |
| Q4 25 | $54.8M | $29.7M | ||
| Q3 25 | $66.9M | $23.8M | ||
| Q2 25 | $67.4M | $16.4M | ||
| Q1 25 | — | $-13.9M | ||
| Q4 24 | $53.7M | $-10.2M | ||
| Q3 24 | $68.2M | $22.8M | ||
| Q2 24 | $82.9M | $26.8M | ||
| Q1 24 | $60.0M | $13.0M |
| Q4 25 | 37.0% | 25.6% | ||
| Q3 25 | 37.2% | 24.1% | ||
| Q2 25 | 37.6% | 22.6% | ||
| Q1 25 | — | 23.2% | ||
| Q4 24 | 38.5% | 17.5% | ||
| Q3 24 | 37.7% | 21.9% | ||
| Q2 24 | 38.2% | 21.6% | ||
| Q1 24 | 37.0% | 19.3% |
| Q4 25 | 14.6% | 11.5% | ||
| Q3 25 | 15.2% | 10.7% | ||
| Q2 25 | 16.2% | 7.7% | ||
| Q1 25 | — | 5.9% | ||
| Q4 24 | 16.6% | 1.3% | ||
| Q3 24 | 15.7% | 9.0% | ||
| Q2 24 | 16.9% | 10.2% | ||
| Q1 24 | 16.0% | 7.0% |
| Q4 25 | 7.5% | 6.9% | ||
| Q3 25 | 9.3% | 4.9% | ||
| Q2 25 | 9.9% | 3.2% | ||
| Q1 25 | — | -3.0% | ||
| Q4 24 | 8.0% | -2.1% | ||
| Q3 24 | 10.1% | 4.1% | ||
| Q2 24 | 11.7% | 4.8% | ||
| Q1 24 | 8.7% | 2.6% |
| Q4 25 | $0.90 | $1.44 | ||
| Q3 25 | $1.09 | $1.17 | ||
| Q2 25 | $1.10 | $0.81 | ||
| Q1 25 | — | $-0.68 | ||
| Q4 24 | $0.87 | $-0.47 | ||
| Q3 24 | $1.11 | $1.09 | ||
| Q2 24 | $1.35 | $1.25 | ||
| Q1 24 | $0.98 | $0.59 |
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 | $928.3M |
| Stockholders' EquityBook value | $2.1B | $574.0M |
| Total Assets | $4.9B | $1.9B |
| Debt / EquityLower = less leverage | 0.63× | 1.62× |
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 | $928.3M | ||
| Q3 25 | $1.1B | $932.9M | ||
| Q2 25 | $1.1B | $977.5M | ||
| Q1 25 | — | $989.0M | ||
| Q4 24 | $1.1B | $939.5M | ||
| Q3 24 | $1.1B | $989.4M | ||
| Q2 24 | $1.1B | $1.0B | ||
| Q1 24 | $992.8M | $877.6M |
| Q4 25 | $2.1B | $574.0M | ||
| Q3 25 | $2.1B | $545.6M | ||
| Q2 25 | $1.9B | $526.8M | ||
| Q1 25 | — | $498.0M | ||
| Q4 24 | $1.8B | $488.7M | ||
| Q3 24 | $1.8B | $532.3M | ||
| Q2 24 | $1.7B | $509.2M | ||
| Q1 24 | $1.6B | $505.8M |
| Q4 25 | $4.9B | $1.9B | ||
| Q3 25 | $4.4B | $1.9B | ||
| Q2 25 | $4.2B | $1.9B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | $4.0B | $1.9B | ||
| Q3 24 | $4.1B | $2.0B | ||
| Q2 24 | $4.0B | $1.9B | ||
| Q1 24 | $3.8B | $1.8B |
| Q4 25 | 0.63× | 1.62× | ||
| Q3 25 | 0.51× | 1.71× | ||
| Q2 25 | 0.55× | 1.86× | ||
| Q1 25 | — | 1.99× | ||
| Q4 24 | 0.60× | 1.92× | ||
| Q3 24 | 0.59× | 1.86× | ||
| Q2 24 | 0.63× | 1.97× | ||
| Q1 24 | 0.61× | 1.74× |
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 | $45.1M |
| Free Cash FlowOCF − Capex | $70.3M | $28.5M |
| FCF MarginFCF / Revenue | 9.7% | 6.6% |
| Capex IntensityCapex / Revenue | 1.5% | 3.8% |
| Cash ConversionOCF / Net Profit | 1.49× | 1.52× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $67.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $45.1M | ||
| Q3 25 | $46.6M | $49.6M | ||
| Q2 25 | $35.4M | $50.5M | ||
| Q1 25 | — | $-22.7M | ||
| Q4 24 | $126.9M | $74.7M | ||
| Q3 24 | $101.0M | $29.8M | ||
| Q2 24 | $83.0M | $27.2M | ||
| Q1 24 | $44.5M | $-12.3M |
| Q4 25 | $70.3M | $28.5M | ||
| Q3 25 | $37.4M | $37.6M | ||
| Q2 25 | $28.1M | $38.4M | ||
| Q1 25 | — | $-37.0M | ||
| Q4 24 | $102.2M | $56.1M | ||
| Q3 24 | $90.4M | $14.4M | ||
| Q2 24 | $74.0M | $10.1M | ||
| Q1 24 | $37.1M | $-38.6M |
| Q4 25 | 9.7% | 6.6% | ||
| Q3 25 | 5.2% | 7.7% | ||
| Q2 25 | 4.1% | 7.6% | ||
| Q1 25 | — | -8.1% | ||
| Q4 24 | 15.2% | 11.8% | ||
| Q3 24 | 13.4% | 2.6% | ||
| Q2 24 | 10.5% | 1.8% | ||
| Q1 24 | 5.4% | -7.8% |
| Q4 25 | 1.5% | 3.8% | ||
| Q3 25 | 1.3% | 2.5% | ||
| Q2 25 | 1.1% | 2.4% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | 3.7% | 3.9% | ||
| Q3 24 | 1.6% | 2.8% | ||
| Q2 24 | 1.3% | 3.0% | ||
| Q1 24 | 1.1% | 5.3% |
| Q4 25 | 1.49× | 1.52× | ||
| Q3 25 | 0.70× | 2.08× | ||
| Q2 25 | 0.53× | 3.08× | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.36× | — | ||
| Q3 24 | 1.48× | 1.31× | ||
| Q2 24 | 1.00× | 1.01× | ||
| Q1 24 | 0.74× | -0.95× |
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% |
KOP
| Other | $127.8M | 30% |
| Railroad Treated Products | $119.0M | 28% |
| Utility Poles | $79.8M | 18% |
| Pitch And Related Products | $74.1M | 17% |
| Carbon Black Feedstock And Distillates | $14.4M | 3% |
| Railroad Infrastructure Products And Services | $9.9M | 2% |
| Phthalic Anhydride Naphthalene And Other Chemicals | $7.7M | 2% |
