vs
Side-by-side financial comparison of ESAB Corp (ESAB) and Lineage, Inc. (LINE). Click either name above to swap in a different company.
Lineage, Inc. is the larger business by last-quarter revenue ($1.4B vs $727.8M, roughly 1.9× ESAB Corp). ESAB Corp runs the higher net margin — 7.5% vs -7.3%, a 14.8% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs 3.1%). ESAB Corp produced more free cash flow last quarter ($70.3M vs $35.0M).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Norwegian Cruise Line Holdings (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.
ESAB vs LINE — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $1.4B |
| Net Profit | $54.8M | $-100.0M |
| Gross Margin | 37.0% | 32.3% |
| Operating Margin | 14.6% | 2.5% |
| Net Margin | 7.5% | -7.3% |
| Revenue YoY | 8.5% | 3.1% |
| Net Profit YoY | 2.1% | 79.4% |
| EPS (diluted) | $0.90 | $-0.44 |
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 | — | ||
| Q3 25 | $715.6M | $1.4B | ||
| Q2 25 | $678.1M | $1.4B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $670.8M | $1.3B | ||
| Q3 24 | $673.3M | $1.3B | ||
| Q2 24 | $707.1M | $1.3B | ||
| Q1 24 | $689.7M | $1.3B |
| Q4 25 | $54.8M | — | ||
| Q3 25 | $66.9M | $-100.0M | ||
| Q2 25 | $67.4M | $-6.0M | ||
| Q1 25 | — | $0 | ||
| Q4 24 | $53.7M | $-71.0M | ||
| Q3 24 | $68.2M | $-485.0M | ||
| Q2 24 | $82.9M | $-68.0M | ||
| Q1 24 | $60.0M | $-40.0M |
| Q4 25 | 37.0% | — | ||
| Q3 25 | 37.2% | 32.3% | ||
| Q2 25 | 37.6% | 31.9% | ||
| Q1 25 | — | 32.2% | ||
| Q4 24 | 38.5% | 32.3% | ||
| Q3 24 | 37.7% | 32.8% | ||
| Q2 24 | 38.2% | 33.4% | ||
| Q1 24 | 37.0% | 33.4% |
| Q4 25 | 14.6% | — | ||
| Q3 25 | 15.2% | 2.5% | ||
| Q2 25 | 16.2% | 1.7% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | 16.6% | -1.6% | ||
| Q3 24 | 15.7% | -38.6% | ||
| Q2 24 | 16.9% | 5.5% | ||
| Q1 24 | 16.0% | 7.6% |
| Q4 25 | 7.5% | — | ||
| Q3 25 | 9.3% | -7.3% | ||
| Q2 25 | 9.9% | -0.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | 8.0% | -5.3% | ||
| Q3 24 | 10.1% | -36.3% | ||
| Q2 24 | 11.7% | -5.1% | ||
| Q1 24 | 8.7% | -3.0% |
| Q4 25 | $0.90 | — | ||
| Q3 25 | $1.09 | $-0.44 | ||
| Q2 25 | $1.10 | $-0.03 | ||
| Q1 25 | — | $0.01 | ||
| Q4 24 | $0.87 | $-0.52 | ||
| Q3 24 | $1.11 | $-2.44 | ||
| Q2 24 | $1.35 | $-0.46 | ||
| Q1 24 | $0.98 | $-0.28 |
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 | $8.4B |
| Total Assets | $4.9B | $19.2B |
| 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 | $173.0M | ||
| Q3 24 | $253.7M | $409.0M | ||
| Q2 24 | $228.5M | $73.0M | ||
| 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 | — | ||
| Q3 25 | $2.1B | $8.4B | ||
| Q2 25 | $1.9B | $8.6B | ||
| Q1 25 | — | $8.6B | ||
| Q4 24 | $1.8B | $8.6B | ||
| Q3 24 | $1.8B | $9.0B | ||
| Q2 24 | $1.7B | $4.9B | ||
| Q1 24 | $1.6B | $5.6B |
| Q4 25 | $4.9B | — | ||
| Q3 25 | $4.4B | $19.2B | ||
| Q2 25 | $4.2B | $19.4B | ||
| Q1 25 | — | $18.8B | ||
| Q4 24 | $4.0B | $18.7B | ||
| Q3 24 | $4.1B | $19.3B | ||
| Q2 24 | $4.0B | $18.8B | ||
| Q1 24 | $3.8B | — |
| 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 | $230.0M |
| Free Cash FlowOCF − Capex | $70.3M | $35.0M |
| FCF MarginFCF / Revenue | 9.7% | 2.5% |
| Capex IntensityCapex / Revenue | 1.5% | 14.2% |
| Cash ConversionOCF / Net Profit | 1.49× | — |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | — | ||
| Q3 25 | $46.6M | $230.0M | ||
| Q2 25 | $35.4M | $258.0M | ||
| Q1 25 | — | $139.0M | ||
| Q4 24 | $126.9M | — | ||
| Q3 24 | $101.0M | $186.0M | ||
| Q2 24 | $83.0M | $155.0M | ||
| Q1 24 | $44.5M | $105.0M |
| Q4 25 | $70.3M | — | ||
| Q3 25 | $37.4M | $35.0M | ||
| Q2 25 | $28.1M | $95.0M | ||
| Q1 25 | — | $-12.0M | ||
| Q4 24 | $102.2M | — | ||
| Q3 24 | $90.4M | $33.0M | ||
| Q2 24 | $74.0M | $-31.0M | ||
| Q1 24 | $37.1M | $-42.0M |
| Q4 25 | 9.7% | — | ||
| Q3 25 | 5.2% | 2.5% | ||
| Q2 25 | 4.1% | 7.0% | ||
| Q1 25 | — | -0.9% | ||
| Q4 24 | 15.2% | — | ||
| Q3 24 | 13.4% | 2.5% | ||
| Q2 24 | 10.5% | -2.3% | ||
| Q1 24 | 5.4% | -3.2% |
| Q4 25 | 1.5% | — | ||
| Q3 25 | 1.3% | 14.2% | ||
| Q2 25 | 1.1% | 12.1% | ||
| Q1 25 | — | 11.7% | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 1.6% | 11.5% | ||
| Q2 24 | 1.3% | 13.9% | ||
| Q1 24 | 1.1% | 11.1% |
| Q4 25 | 1.49× | — | ||
| Q3 25 | 0.70× | — | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.36× | — | ||
| Q3 24 | 1.48× | — | ||
| Q2 24 | 1.00× | — | ||
| 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% |
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
