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Side-by-side financial comparison of ESAB Corp (ESAB) and PJT Partners Inc. (PJT). Click either name above to swap in a different company.
ESAB Corp is the larger business by last-quarter revenue ($727.8M vs $531.4M, roughly 1.4× PJT Partners Inc.). PJT Partners Inc. runs the higher net margin — 10.0% vs 7.5%, a 2.5% gap on every dollar of revenue. On growth, PJT Partners Inc. posted the faster year-over-year revenue change (12.9% vs 8.5%). PJT Partners Inc. produced more free cash flow last quarter ($138.6M vs $70.3M). Over the past eight quarters, PJT Partners Inc.'s revenue compounded faster (27.5% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
ESAB vs PJT — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $531.4M |
| Net Profit | $54.8M | $53.4M |
| Gross Margin | 37.0% | — |
| Operating Margin | 14.6% | 23.1% |
| Net Margin | 7.5% | 10.0% |
| Revenue YoY | 8.5% | 12.9% |
| Net Profit YoY | 2.1% | 4.0% |
| EPS (diluted) | $0.90 | — |
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 | $531.4M | ||
| Q3 25 | $715.6M | $442.3M | ||
| Q2 25 | $678.1M | $401.1M | ||
| Q1 25 | — | $321.9M | ||
| Q4 24 | $670.8M | $470.5M | ||
| Q3 24 | $673.3M | $320.3M | ||
| Q2 24 | $707.1M | $358.1M | ||
| Q1 24 | $689.7M | $327.1M |
| Q4 25 | $54.8M | $53.4M | ||
| Q3 25 | $66.9M | $39.8M | ||
| Q2 25 | $67.4M | $32.9M | ||
| Q1 25 | — | $54.0M | ||
| Q4 24 | $53.7M | $51.3M | ||
| Q3 24 | $68.2M | $22.1M | ||
| Q2 24 | $82.9M | $28.3M | ||
| Q1 24 | $60.0M | $32.6M |
| 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% | 23.1% | ||
| Q3 25 | 15.2% | 20.6% | ||
| Q2 25 | 16.2% | 19.1% | ||
| Q1 25 | — | 16.3% | ||
| Q4 24 | 16.6% | 21.9% | ||
| Q3 24 | 15.7% | 15.4% | ||
| Q2 24 | 16.9% | 18.0% | ||
| Q1 24 | 16.0% | 16.5% |
| Q4 25 | 7.5% | 10.0% | ||
| Q3 25 | 9.3% | 9.0% | ||
| Q2 25 | 9.9% | 8.2% | ||
| Q1 25 | — | 16.8% | ||
| Q4 24 | 8.0% | 10.9% | ||
| Q3 24 | 10.1% | 6.9% | ||
| Q2 24 | 11.7% | 7.9% | ||
| Q1 24 | 8.7% | 10.0% |
| 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 | — | ||
| Q1 24 | $0.98 | — |
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 | $538.9M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $2.1B | $308.2M |
| Total Assets | $4.9B | $1.8B |
| Debt / EquityLower = less leverage | 0.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $538.9M | ||
| Q3 25 | $258.2M | $400.5M | ||
| Q2 25 | $291.3M | $214.6M | ||
| Q1 25 | — | $194.3M | ||
| Q4 24 | $249.4M | $483.9M | ||
| Q3 24 | $253.7M | $148.8M | ||
| Q2 24 | $228.5M | $164.2M | ||
| Q1 24 | $76.5M | $215.5M |
| 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 | $308.2M | ||
| Q3 25 | $2.1B | $228.6M | ||
| Q2 25 | $1.9B | $167.4M | ||
| Q1 25 | — | $148.8M | ||
| Q4 24 | $1.8B | $187.0M | ||
| Q3 24 | $1.8B | $159.1M | ||
| Q2 24 | $1.7B | $133.8M | ||
| Q1 24 | $1.6B | $174.6M |
| Q4 25 | $4.9B | $1.8B | ||
| Q3 25 | $4.4B | $1.7B | ||
| Q2 25 | $4.2B | $1.5B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | $4.0B | $1.6B | ||
| Q3 24 | $4.1B | $1.6B | ||
| Q2 24 | $4.0B | $1.4B | ||
| Q1 24 | $3.8B | $1.3B |
| 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 | $155.7M |
| Free Cash FlowOCF − Capex | $70.3M | $138.6M |
| FCF MarginFCF / Revenue | 9.7% | 26.1% |
| Capex IntensityCapex / Revenue | 1.5% | 3.2% |
| Cash ConversionOCF / Net Profit | 1.49× | 2.92× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $480.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $155.7M | ||
| Q3 25 | $46.6M | $256.1M | ||
| Q2 25 | $35.4M | $190.4M | ||
| Q1 25 | — | $-75.9M | ||
| Q4 24 | $126.9M | $195.7M | ||
| Q3 24 | $101.0M | $180.5M | ||
| Q2 24 | $83.0M | $193.6M | ||
| Q1 24 | $44.5M | $-38.8M |
| Q4 25 | $70.3M | $138.6M | ||
| Q3 25 | $37.4M | $240.9M | ||
| Q2 25 | $28.1M | $178.9M | ||
| Q1 25 | — | $-77.9M | ||
| Q4 24 | $102.2M | $195.3M | ||
| Q3 24 | $90.4M | $178.5M | ||
| Q2 24 | $74.0M | $193.0M | ||
| Q1 24 | $37.1M | $-39.2M |
| Q4 25 | 9.7% | 26.1% | ||
| Q3 25 | 5.2% | 54.5% | ||
| Q2 25 | 4.1% | 44.6% | ||
| Q1 25 | — | -24.2% | ||
| Q4 24 | 15.2% | 41.5% | ||
| Q3 24 | 13.4% | 55.7% | ||
| Q2 24 | 10.5% | 53.9% | ||
| Q1 24 | 5.4% | -12.0% |
| Q4 25 | 1.5% | 3.2% | ||
| Q3 25 | 1.3% | 3.4% | ||
| Q2 25 | 1.1% | 2.9% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | 3.7% | 0.1% | ||
| Q3 24 | 1.6% | 0.6% | ||
| Q2 24 | 1.3% | 0.1% | ||
| Q1 24 | 1.1% | 0.1% |
| Q4 25 | 1.49× | 2.92× | ||
| Q3 25 | 0.70× | 6.43× | ||
| Q2 25 | 0.53× | 5.79× | ||
| Q1 25 | — | -1.41× | ||
| Q4 24 | 2.36× | 3.81× | ||
| Q3 24 | 1.48× | 8.15× | ||
| Q2 24 | 1.00× | 6.84× | ||
| Q1 24 | 0.74× | -1.19× |
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% |
PJT
Segment breakdown not available.
