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Side-by-side financial comparison of ESAB Corp (ESAB) and Microchip Technology (MCHP). Click either name above to swap in a different company.
Microchip Technology is the larger business by last-quarter revenue ($1.2B vs $727.8M, roughly 1.6× ESAB Corp). ESAB Corp runs the higher net margin — 7.5% vs 5.3%, a 2.2% gap on every dollar of revenue. On growth, Microchip Technology posted the faster year-over-year revenue change (15.6% vs 8.5%). Microchip Technology produced more free cash flow last quarter ($318.9M vs $70.3M). Over the past eight quarters, ESAB Corp's revenue compounded faster (2.8% CAGR vs -5.4%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Microchip Technology Incorporated is an American publicly traded semiconductor corporation that manufactures microcontroller, mixed-signal, analog, and Flash-IP integrated circuits.
ESAB vs MCHP — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $1.2B |
| Net Profit | $54.8M | $62.7M |
| Gross Margin | 37.0% | 59.6% |
| Operating Margin | 14.6% | 12.8% |
| Net Margin | 7.5% | 5.3% |
| Revenue YoY | 8.5% | 15.6% |
| Net Profit YoY | 2.1% | 217.0% |
| EPS (diluted) | $0.90 | $0.06 |
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 | $1.2B | ||
| Q3 25 | $715.6M | $1.1B | ||
| Q2 25 | $678.1M | $1.1B | ||
| Q1 25 | — | $970.5M | ||
| Q4 24 | $670.8M | $1.0B | ||
| Q3 24 | $673.3M | $1.2B | ||
| Q2 24 | $707.1M | $1.2B | ||
| Q1 24 | $689.7M | $1.3B |
| Q4 25 | $54.8M | $62.7M | ||
| Q3 25 | $66.9M | $41.7M | ||
| Q2 25 | $67.4M | $-18.6M | ||
| Q1 25 | — | $-154.6M | ||
| Q4 24 | $53.7M | $-53.6M | ||
| Q3 24 | $68.2M | $78.4M | ||
| Q2 24 | $82.9M | $129.3M | ||
| Q1 24 | $60.0M | $154.7M |
| Q4 25 | 37.0% | 59.6% | ||
| Q3 25 | 37.2% | 55.9% | ||
| Q2 25 | 37.6% | 53.6% | ||
| Q1 25 | — | 51.6% | ||
| Q4 24 | 38.5% | 54.7% | ||
| Q3 24 | 37.7% | 57.4% | ||
| Q2 24 | 38.2% | 59.4% | ||
| Q1 24 | 37.0% | 59.6% |
| Q4 25 | 14.6% | 12.8% | ||
| Q3 25 | 15.2% | 7.8% | ||
| Q2 25 | 16.2% | 3.0% | ||
| Q1 25 | — | -10.3% | ||
| Q4 24 | 16.6% | 3.0% | ||
| Q3 24 | 15.7% | 12.6% | ||
| Q2 24 | 16.9% | 17.7% | ||
| Q1 24 | 16.0% | 19.1% |
| Q4 25 | 7.5% | 5.3% | ||
| Q3 25 | 9.3% | 3.7% | ||
| Q2 25 | 9.9% | -1.7% | ||
| Q1 25 | — | -15.9% | ||
| Q4 24 | 8.0% | -5.2% | ||
| Q3 24 | 10.1% | 6.7% | ||
| Q2 24 | 11.7% | 10.4% | ||
| Q1 24 | 8.7% | 11.7% |
| Q4 25 | $0.90 | $0.06 | ||
| Q3 25 | $1.09 | $0.03 | ||
| Q2 25 | $1.10 | $-0.09 | ||
| Q1 25 | — | $-0.29 | ||
| Q4 24 | $0.87 | $-0.10 | ||
| Q3 24 | $1.11 | $0.14 | ||
| Q2 24 | $1.35 | $0.24 | ||
| Q1 24 | $0.98 | $0.29 |
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 | $250.7M |
| Total DebtLower is stronger | $1.3B | $5.4B |
| Stockholders' EquityBook value | $2.1B | $6.6B |
| Total Assets | $4.9B | $14.3B |
| Debt / EquityLower = less leverage | 0.63× | 0.82× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $250.7M | ||
| Q3 25 | $258.2M | $236.8M | ||
| Q2 25 | $291.3M | $566.5M | ||
| Q1 25 | — | $771.7M | ||
| Q4 24 | $249.4M | $586.0M | ||
| Q3 24 | $253.7M | $286.1M | ||
| Q2 24 | $228.5M | $315.1M | ||
| Q1 24 | $76.5M | $319.7M |
| Q4 25 | $1.3B | $5.4B | ||
| Q3 25 | $1.1B | $5.4B | ||
| Q2 25 | $1.1B | $5.5B | ||
| Q1 25 | — | $5.6B | ||
| Q4 24 | $1.1B | $6.7B | ||
| Q3 24 | $1.1B | $6.4B | ||
| Q2 24 | $1.1B | $6.2B | ||
| Q1 24 | $992.8M | $6.0B |
| Q4 25 | $2.1B | $6.6B | ||
| Q3 25 | $2.1B | $6.7B | ||
| Q2 25 | $1.9B | $6.9B | ||
| Q1 25 | — | $7.1B | ||
| Q4 24 | $1.8B | $6.0B | ||
| Q3 24 | $1.8B | $6.3B | ||
| Q2 24 | $1.7B | $6.4B | ||
| Q1 24 | $1.6B | $6.7B |
| Q4 25 | $4.9B | $14.3B | ||
| Q3 25 | $4.4B | $14.5B | ||
| Q2 25 | $4.2B | $15.0B | ||
| Q1 25 | — | $15.4B | ||
| Q4 24 | $4.0B | $15.6B | ||
| Q3 24 | $4.1B | $15.6B | ||
| Q2 24 | $4.0B | $15.8B | ||
| Q1 24 | $3.8B | $15.9B |
| Q4 25 | 0.63× | 0.82× | ||
| Q3 25 | 0.51× | 0.80× | ||
| Q2 25 | 0.55× | 0.80× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | 0.60× | 1.12× | ||
| Q3 24 | 0.59× | 1.02× | ||
| Q2 24 | 0.63× | 0.96× | ||
| Q1 24 | 0.61× | 0.90× |
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 | $341.4M |
| Free Cash FlowOCF − Capex | $70.3M | $318.9M |
| FCF MarginFCF / Revenue | 9.7% | 26.9% |
| Capex IntensityCapex / Revenue | 1.5% | 1.9% |
| Cash ConversionOCF / Net Profit | 1.49× | 5.44× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $819.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $341.4M | ||
| Q3 25 | $46.6M | $88.1M | ||
| Q2 25 | $35.4M | $275.6M | ||
| Q1 25 | — | $205.9M | ||
| Q4 24 | $126.9M | $271.5M | ||
| Q3 24 | $101.0M | $43.6M | ||
| Q2 24 | $83.0M | $377.1M | ||
| Q1 24 | $44.5M | $430.0M |
| Q4 25 | $70.3M | $318.9M | ||
| Q3 25 | $37.4M | $51.6M | ||
| Q2 25 | $28.1M | $257.7M | ||
| Q1 25 | — | $191.7M | ||
| Q4 24 | $102.2M | $253.4M | ||
| Q3 24 | $90.4M | $22.8M | ||
| Q2 24 | $74.0M | $304.2M | ||
| Q1 24 | $37.1M | $389.9M |
| Q4 25 | 9.7% | 26.9% | ||
| Q3 25 | 5.2% | 4.5% | ||
| Q2 25 | 4.1% | 24.0% | ||
| Q1 25 | — | 19.8% | ||
| Q4 24 | 15.2% | 24.7% | ||
| Q3 24 | 13.4% | 2.0% | ||
| Q2 24 | 10.5% | 24.5% | ||
| Q1 24 | 5.4% | 29.4% |
| Q4 25 | 1.5% | 1.9% | ||
| Q3 25 | 1.3% | 3.2% | ||
| Q2 25 | 1.1% | 1.7% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | 3.7% | 1.8% | ||
| Q3 24 | 1.6% | 1.8% | ||
| Q2 24 | 1.3% | 5.9% | ||
| Q1 24 | 1.1% | 3.0% |
| Q4 25 | 1.49× | 5.44× | ||
| Q3 25 | 0.70× | 2.11× | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.36× | — | ||
| Q3 24 | 1.48× | 0.56× | ||
| Q2 24 | 1.00× | 2.92× | ||
| Q1 24 | 0.74× | 2.78× |
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% |
MCHP
| Mixed Signal Microcontrollers | $586.5M | 49% |
| Analog | $322.9M | 27% |
| Other Product Line | $276.6M | 23% |
