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Side-by-side financial comparison of ESAB Corp (ESAB) and Pinnacle West Capital (PNW). Click either name above to swap in a different company.
Pinnacle West Capital is the larger business by last-quarter revenue ($1.1B vs $727.8M, roughly 1.6× ESAB Corp). ESAB Corp runs the higher net margin — 7.5% vs 1.6%, a 6.0% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs 3.0%). ESAB Corp produced more free cash flow last quarter ($70.3M vs $-192.7M). Over the past eight quarters, Pinnacle West Capital's revenue compounded faster (8.9% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Pinnacle West Capital Corporation is an American utility holding company that owns Arizona Public Service (APS). It is publicly traded on the New York Stock exchange and a component of the S&P 500 stock market index. APS is the largest utility company in Arizona and is regulated by the Arizona Corporation Commission (ACC).
ESAB vs PNW — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $1.1B |
| Net Profit | $54.8M | $17.6M |
| Gross Margin | 37.0% | — |
| Operating Margin | 14.6% | 10.7% |
| Net Margin | 7.5% | 1.6% |
| Revenue YoY | 8.5% | 3.0% |
| Net Profit YoY | 2.1% | 798.0% |
| EPS (diluted) | $0.90 | $0.12 |
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 | $1.1B | ||
| Q3 25 | $715.6M | $1.8B | ||
| Q2 25 | $678.1M | $1.4B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | $670.8M | $1.1B | ||
| Q3 24 | $673.3M | $1.8B | ||
| Q2 24 | $707.1M | $1.3B | ||
| Q1 24 | $689.7M | $951.7M |
| Q4 25 | $54.8M | $17.6M | ||
| Q3 25 | $66.9M | $417.5M | ||
| Q2 25 | $67.4M | $196.9M | ||
| Q1 25 | — | $-338.0K | ||
| Q4 24 | $53.7M | $-2.5M | ||
| Q3 24 | $68.2M | $399.3M | ||
| Q2 24 | $82.9M | $208.1M | ||
| Q1 24 | $60.0M | $21.2M |
| 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% | 10.7% | ||
| Q3 25 | 15.2% | 32.0% | ||
| Q2 25 | 16.2% | 22.6% | ||
| Q1 25 | — | 5.5% | ||
| Q4 24 | 16.6% | 7.7% | ||
| Q3 24 | 15.7% | 30.9% | ||
| Q2 24 | 16.9% | 24.0% | ||
| Q1 24 | 16.0% | 7.0% |
| Q4 25 | 7.5% | 1.6% | ||
| Q3 25 | 9.3% | 22.9% | ||
| Q2 25 | 9.9% | 14.5% | ||
| Q1 25 | — | -0.0% | ||
| Q4 24 | 8.0% | -0.2% | ||
| Q3 24 | 10.1% | 22.6% | ||
| Q2 24 | 11.7% | 15.9% | ||
| Q1 24 | 8.7% | 2.2% |
| Q4 25 | $0.90 | $0.12 | ||
| Q3 25 | $1.09 | $3.39 | ||
| Q2 25 | $1.10 | $1.58 | ||
| Q1 25 | — | $-0.04 | ||
| Q4 24 | $0.87 | $-0.04 | ||
| Q3 24 | $1.11 | $3.37 | ||
| Q2 24 | $1.35 | $1.76 | ||
| Q1 24 | $0.98 | $0.15 |
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 | $6.6M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $2.1B | $7.0B |
| Total Assets | $4.9B | $30.0B |
| Debt / EquityLower = less leverage | 0.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $6.6M | ||
| Q3 25 | $258.2M | $30.9M | ||
| Q2 25 | $291.3M | $18.8M | ||
| Q1 25 | — | $10.0M | ||
| Q4 24 | $249.4M | $3.8M | ||
| Q3 24 | $253.7M | $49.2M | ||
| Q2 24 | $228.5M | $4.0M | ||
| Q1 24 | $76.5M | $9.6M |
| 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 | $7.0B | ||
| Q3 25 | $2.1B | $7.2B | ||
| Q2 25 | $1.9B | $6.7B | ||
| Q1 25 | — | $6.7B | ||
| Q4 24 | $1.8B | $6.8B | ||
| Q3 24 | $1.8B | $6.6B | ||
| Q2 24 | $1.7B | $6.2B | ||
| Q1 24 | $1.6B | $6.2B |
| Q4 25 | $4.9B | $30.0B | ||
| Q3 25 | $4.4B | $29.9B | ||
| Q2 25 | $4.2B | $29.2B | ||
| Q1 25 | — | $27.2B | ||
| Q4 24 | $4.0B | $26.1B | ||
| Q3 24 | $4.1B | $26.3B | ||
| Q2 24 | $4.0B | $25.7B | ||
| Q1 24 | $3.8B | $24.8B |
| 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 | $476.8M |
| Free Cash FlowOCF − Capex | $70.3M | $-192.7M |
| FCF MarginFCF / Revenue | 9.7% | -17.1% |
| Capex IntensityCapex / Revenue | 1.5% | 59.3% |
| Cash ConversionOCF / Net Profit | 1.49× | 27.09× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $-819.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $476.8M | ||
| Q3 25 | $46.6M | $665.0M | ||
| Q2 25 | $35.4M | $261.4M | ||
| Q1 25 | — | $401.9M | ||
| Q4 24 | $126.9M | $439.5M | ||
| Q3 24 | $101.0M | $633.2M | ||
| Q2 24 | $83.0M | $189.8M | ||
| Q1 24 | $44.5M | $347.4M |
| Q4 25 | $70.3M | $-192.7M | ||
| Q3 25 | $37.4M | $42.0M | ||
| Q2 25 | $28.1M | $-448.1M | ||
| Q1 25 | — | $-220.7M | ||
| Q4 24 | $102.2M | $-92.1M | ||
| Q3 24 | $90.4M | $-32.7M | ||
| Q2 24 | $74.0M | $-344.2M | ||
| Q1 24 | $37.1M | $-170.4M |
| Q4 25 | 9.7% | -17.1% | ||
| Q3 25 | 5.2% | 2.3% | ||
| Q2 25 | 4.1% | -33.0% | ||
| Q1 25 | — | -21.4% | ||
| Q4 24 | 15.2% | -8.4% | ||
| Q3 24 | 13.4% | -1.8% | ||
| Q2 24 | 10.5% | -26.3% | ||
| Q1 24 | 5.4% | -17.9% |
| Q4 25 | 1.5% | 59.3% | ||
| Q3 25 | 1.3% | 34.2% | ||
| Q2 25 | 1.1% | 52.2% | ||
| Q1 25 | — | 60.3% | ||
| Q4 24 | 3.7% | 48.5% | ||
| Q3 24 | 1.6% | 37.6% | ||
| Q2 24 | 1.3% | 40.8% | ||
| Q1 24 | 1.1% | 54.4% |
| Q4 25 | 1.49× | 27.09× | ||
| Q3 25 | 0.70× | 1.59× | ||
| Q2 25 | 0.53× | 1.33× | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.36× | — | ||
| Q3 24 | 1.48× | 1.59× | ||
| Q2 24 | 1.00× | 0.91× | ||
| Q1 24 | 0.74× | 16.41× |
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% |
PNW
| Electricand Transmission Service | $1.1B | 100% |
| Other Services | $4.4M | 0% |
