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Side-by-side financial comparison of ESAB Corp (ESAB) and MSCI Inc. (MSCI). Click either name above to swap in a different company.
MSCI Inc. is the larger business by last-quarter revenue ($822.5M vs $727.8M, roughly 1.1× ESAB Corp). MSCI Inc. runs the higher net margin — 34.6% vs 7.5%, a 27.1% gap on every dollar of revenue. On growth, MSCI Inc. posted the faster year-over-year revenue change (10.6% vs 8.5%). MSCI Inc. produced more free cash flow last quarter ($488.7M vs $70.3M). Over the past eight quarters, MSCI Inc.'s revenue compounded faster (10.0% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
MSCI Inc. is an American finance company headquartered in New York City. MSCI is a global provider of equity, fixed income, real estate indices, multi-asset portfolio analysis tools, ESG and climate finance products. It operates the MSCI World, MSCI Emerging Markets, and MSCI All Country World (ACWI) indices, among others.
ESAB vs MSCI — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $822.5M |
| Net Profit | $54.8M | $284.7M |
| Gross Margin | 37.0% | — |
| Operating Margin | 14.6% | 56.4% |
| Net Margin | 7.5% | 34.6% |
| Revenue YoY | 8.5% | 10.6% |
| Net Profit YoY | 2.1% | -6.8% |
| EPS (diluted) | $0.90 | $3.81 |
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 | $822.5M | ||
| Q3 25 | $715.6M | $793.4M | ||
| Q2 25 | $678.1M | $772.7M | ||
| Q1 25 | — | $745.8M | ||
| Q4 24 | $670.8M | $743.5M | ||
| Q3 24 | $673.3M | $724.7M | ||
| Q2 24 | $707.1M | $707.9M | ||
| Q1 24 | $689.7M | $680.0M |
| Q4 25 | $54.8M | $284.7M | ||
| Q3 25 | $66.9M | $325.4M | ||
| Q2 25 | $67.4M | $303.6M | ||
| Q1 25 | — | $288.6M | ||
| Q4 24 | $53.7M | $305.5M | ||
| Q3 24 | $68.2M | $280.9M | ||
| Q2 24 | $82.9M | $266.8M | ||
| Q1 24 | $60.0M | $256.0M |
| 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% | 56.4% | ||
| Q3 25 | 15.2% | 56.4% | ||
| Q2 25 | 16.2% | 55.0% | ||
| Q1 25 | — | 50.6% | ||
| Q4 24 | 16.6% | 54.5% | ||
| Q3 24 | 15.7% | 55.4% | ||
| Q2 24 | 16.9% | 54.0% | ||
| Q1 24 | 16.0% | 49.9% |
| Q4 25 | 7.5% | 34.6% | ||
| Q3 25 | 9.3% | 41.0% | ||
| Q2 25 | 9.9% | 39.3% | ||
| Q1 25 | — | 38.7% | ||
| Q4 24 | 8.0% | 41.1% | ||
| Q3 24 | 10.1% | 38.8% | ||
| Q2 24 | 11.7% | 37.7% | ||
| Q1 24 | 8.7% | 37.6% |
| Q4 25 | $0.90 | $3.81 | ||
| Q3 25 | $1.09 | $4.25 | ||
| Q2 25 | $1.10 | $3.92 | ||
| Q1 25 | — | $3.71 | ||
| Q4 24 | $0.87 | $3.89 | ||
| Q3 24 | $1.11 | $3.57 | ||
| Q2 24 | $1.35 | $3.37 | ||
| Q1 24 | $0.98 | $3.22 |
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 | $515.3M |
| Total DebtLower is stronger | $1.3B | $6.2B |
| Stockholders' EquityBook value | $2.1B | $-2.7B |
| Total Assets | $4.9B | $5.7B |
| Debt / EquityLower = less leverage | 0.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $515.3M | ||
| Q3 25 | $258.2M | $400.1M | ||
| Q2 25 | $291.3M | $347.3M | ||
| Q1 25 | — | $360.7M | ||
| Q4 24 | $249.4M | $409.4M | ||
| Q3 24 | $253.7M | $501.0M | ||
| Q2 24 | $228.5M | $451.4M | ||
| Q1 24 | $76.5M | $519.3M |
| Q4 25 | $1.3B | $6.2B | ||
| Q3 25 | $1.1B | $5.5B | ||
| Q2 25 | $1.1B | $4.5B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | $1.1B | $4.5B | ||
| Q3 24 | $1.1B | $4.5B | ||
| Q2 24 | $1.1B | $4.5B | ||
| Q1 24 | $992.8M | $4.5B |
| Q4 25 | $2.1B | $-2.7B | ||
| Q3 25 | $2.1B | $-1.9B | ||
| Q2 25 | $1.9B | $-886.2M | ||
| Q1 25 | — | $-958.6M | ||
| Q4 24 | $1.8B | $-940.0M | ||
| Q3 24 | $1.8B | $-751.0M | ||
| Q2 24 | $1.7B | $-734.5M | ||
| Q1 24 | $1.6B | $-650.5M |
| Q4 25 | $4.9B | $5.7B | ||
| Q3 25 | $4.4B | $5.4B | ||
| Q2 25 | $4.2B | $5.4B | ||
| Q1 25 | — | $5.3B | ||
| Q4 24 | $4.0B | $5.4B | ||
| Q3 24 | $4.1B | $5.4B | ||
| Q2 24 | $4.0B | $5.5B | ||
| Q1 24 | $3.8B | $5.5B |
| 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 | $501.1M |
| Free Cash FlowOCF − Capex | $70.3M | $488.7M |
| FCF MarginFCF / Revenue | 9.7% | 59.4% |
| Capex IntensityCapex / Revenue | 1.5% | 1.5% |
| Cash ConversionOCF / Net Profit | 1.49× | 1.76× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $1.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $501.1M | ||
| Q3 25 | $46.6M | $449.4M | ||
| Q2 25 | $35.4M | $336.1M | ||
| Q1 25 | — | $301.7M | ||
| Q4 24 | $126.9M | $430.6M | ||
| Q3 24 | $101.0M | $421.6M | ||
| Q2 24 | $83.0M | $349.2M | ||
| Q1 24 | $44.5M | $300.1M |
| Q4 25 | $70.3M | $488.7M | ||
| Q3 25 | $37.4M | $445.5M | ||
| Q2 25 | $28.1M | $324.7M | ||
| Q1 25 | — | $290.2M | ||
| Q4 24 | $102.2M | $416.4M | ||
| Q3 24 | $90.4M | $415.0M | ||
| Q2 24 | $74.0M | $340.6M | ||
| Q1 24 | $37.1M | $295.9M |
| Q4 25 | 9.7% | 59.4% | ||
| Q3 25 | 5.2% | 56.2% | ||
| Q2 25 | 4.1% | 42.0% | ||
| Q1 25 | — | 38.9% | ||
| Q4 24 | 15.2% | 56.0% | ||
| Q3 24 | 13.4% | 57.3% | ||
| Q2 24 | 10.5% | 48.1% | ||
| Q1 24 | 5.4% | 43.5% |
| Q4 25 | 1.5% | 1.5% | ||
| Q3 25 | 1.3% | 0.5% | ||
| Q2 25 | 1.1% | 1.5% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | 3.7% | 1.9% | ||
| Q3 24 | 1.6% | 0.9% | ||
| Q2 24 | 1.3% | 1.2% | ||
| Q1 24 | 1.1% | 0.6% |
| Q4 25 | 1.49× | 1.76× | ||
| Q3 25 | 0.70× | 1.38× | ||
| Q2 25 | 0.53× | 1.11× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | 2.36× | 1.41× | ||
| Q3 24 | 1.48× | 1.50× | ||
| Q2 24 | 1.00× | 1.31× | ||
| Q1 24 | 0.74× | 1.17× |
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% |
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
