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Side-by-side financial comparison of ESAB Corp (ESAB) and North American Construction Group Ltd. (NOA). Click either name above to swap in a different company.
North American Construction Group Ltd. is the larger business by last-quarter revenue ($860.2M vs $745.6M, roughly 1.2× ESAB Corp). ESAB Corp runs the higher net margin — 6.6% vs 4.7%, a 1.9% gap on every dollar of revenue. Over the past eight quarters, North American Construction Group Ltd.'s revenue compounded faster (58.0% CAGR vs 4.0%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Shanghai Construction (Group) Corporation (SCG) is a Chinese construction and engineering company, ranked as the 16th largest construction company in the world based on 2011 revenues.
ESAB vs NOA — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $745.6M | $860.2M |
| Net Profit | $49.2M | $40.5M |
| Gross Margin | 36.9% | 19.7% |
| Operating Margin | 12.1% | 15.4% |
| Net Margin | 6.6% | 4.7% |
| Revenue YoY | 9.9% | — |
| Net Profit YoY | -29.3% | — |
| EPS (diluted) | $0.78 | — |
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.
| Q1 26 | $745.6M | — | ||
| Q4 25 | $727.8M | — | ||
| Q3 25 | $715.6M | $860.2M | ||
| Q2 25 | $678.1M | $573.3M | ||
| Q1 25 | — | $297.0M | ||
| Q4 24 | $670.8M | — | ||
| Q3 24 | $673.3M | $636.4M | ||
| Q2 24 | $707.1M | $439.5M |
| Q1 26 | $49.2M | — | ||
| Q4 25 | $54.8M | — | ||
| Q3 25 | $66.9M | $40.5M | ||
| Q2 25 | $67.4M | $26.0M | ||
| Q1 25 | — | $11.5M | ||
| Q4 24 | $53.7M | — | ||
| Q3 24 | $68.2M | $45.5M | ||
| Q2 24 | $82.9M | $34.1M |
| Q1 26 | 36.9% | — | ||
| Q4 25 | 37.0% | — | ||
| Q3 25 | 37.2% | 19.7% | ||
| Q2 25 | 37.6% | 18.1% | ||
| Q1 25 | — | 18.0% | ||
| Q4 24 | 38.5% | — | ||
| Q3 24 | 37.7% | 14.0% | ||
| Q2 24 | 38.2% | 14.3% |
| Q1 26 | 12.1% | — | ||
| Q4 25 | 14.6% | — | ||
| Q3 25 | 15.2% | 15.4% | ||
| Q2 25 | 16.2% | 13.6% | ||
| Q1 25 | — | 13.0% | ||
| Q4 24 | 16.6% | — | ||
| Q3 24 | 15.7% | 7.9% | ||
| Q2 24 | 16.9% | 8.2% |
| Q1 26 | 6.6% | — | ||
| Q4 25 | 7.5% | — | ||
| Q3 25 | 9.3% | 4.7% | ||
| Q2 25 | 9.9% | 4.5% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | 8.0% | — | ||
| Q3 24 | 10.1% | 7.1% | ||
| Q2 24 | 11.7% | 7.8% |
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.90 | — | ||
| Q3 25 | $1.09 | — | ||
| Q2 25 | $1.10 | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0.87 | — | ||
| Q3 24 | $1.11 | — | ||
| Q2 24 | $1.35 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.0B | — |
| Total DebtLower is stronger | $2.0B | — |
| Stockholders' EquityBook value | $2.2B | — |
| Total Assets | $5.6B | $1.7B |
| Debt / EquityLower = less leverage | 0.91× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.0B | — | ||
| 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 26 | $2.0B | — | ||
| 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 26 | $2.2B | — | ||
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.7B | — |
| Q1 26 | $5.6B | — | ||
| Q4 25 | $4.9B | — | ||
| Q3 25 | $4.4B | $1.7B | ||
| Q2 25 | $4.2B | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | $4.1B | $1.5B | ||
| Q2 24 | $4.0B | $1.5B |
| Q1 26 | 0.91× | — | ||
| 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× | — |
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 | $46.9M | $140.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.95× | 3.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $46.9M | — | ||
| Q4 25 | $81.5M | — | ||
| Q3 25 | $46.6M | $140.7M | ||
| Q2 25 | $35.4M | $85.4M | ||
| Q1 25 | — | $19.0M | ||
| Q4 24 | $126.9M | — | ||
| Q3 24 | $101.0M | $109.5M | ||
| Q2 24 | $83.0M | $72.0M |
| Q1 26 | — | — | ||
| Q4 25 | $70.3M | — | ||
| Q3 25 | $37.4M | — | ||
| Q2 25 | $28.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $102.2M | — | ||
| Q3 24 | $90.4M | — | ||
| Q2 24 | $74.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | 9.7% | — | ||
| Q3 25 | 5.2% | — | ||
| Q2 25 | 4.1% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 15.2% | — | ||
| Q3 24 | 13.4% | — | ||
| Q2 24 | 10.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.5% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 1.3% | — |
| Q1 26 | 0.95× | — | ||
| Q4 25 | 1.49× | — | ||
| Q3 25 | 0.70× | 3.47× | ||
| Q2 25 | 0.53× | 3.28× | ||
| Q1 25 | — | 1.65× | ||
| Q4 24 | 2.36× | — | ||
| Q3 24 | 1.48× | 2.41× | ||
| Q2 24 | 1.00× | 2.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
