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Side-by-side financial comparison of ESAB Corp (ESAB) and Insulet Corporation (PODD). Click either name above to swap in a different company.
Insulet Corporation is the larger business by last-quarter revenue ($783.7M vs $727.8M, roughly 1.1× ESAB Corp). Insulet Corporation runs the higher net margin — 13.0% vs 7.5%, a 5.4% gap on every dollar of revenue. On growth, Insulet Corporation posted the faster year-over-year revenue change (31.2% vs 8.5%). ESAB Corp produced more free cash flow last quarter ($70.3M vs $48.2M). Over the past eight quarters, Insulet Corporation's revenue compounded faster (33.2% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
An insulin pump is a medical device used for the administration of insulin in the treatment of diabetes mellitus, also known as continuous subcutaneous insulin therapy . The device configuration may vary depending on design. A traditional pump includes:the pump a disposable reservoir for insulin a disposable infusion set, including a cannula for subcutaneous insertion and a tubing system to connect the insulin reservoir to the cannula.
ESAB vs PODD — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $783.7M |
| Net Profit | $54.8M | $101.6M |
| Gross Margin | 37.0% | 72.6% |
| Operating Margin | 14.6% | 18.7% |
| Net Margin | 7.5% | 13.0% |
| Revenue YoY | 8.5% | 31.2% |
| Net Profit YoY | 2.1% | 0.9% |
| EPS (diluted) | $0.90 | $1.42 |
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 | $783.7M | ||
| Q3 25 | $715.6M | $706.3M | ||
| Q2 25 | $678.1M | $649.1M | ||
| Q1 25 | — | $569.0M | ||
| Q4 24 | $670.8M | $597.5M | ||
| Q3 24 | $673.3M | $543.9M | ||
| Q2 24 | $707.1M | $488.5M | ||
| Q1 24 | $689.7M | $441.7M |
| Q4 25 | $54.8M | $101.6M | ||
| Q3 25 | $66.9M | $87.6M | ||
| Q2 25 | $67.4M | $22.5M | ||
| Q1 25 | — | $35.4M | ||
| Q4 24 | $53.7M | $100.7M | ||
| Q3 24 | $68.2M | $77.5M | ||
| Q2 24 | $82.9M | $188.6M | ||
| Q1 24 | $60.0M | $51.5M |
| Q4 25 | 37.0% | 72.6% | ||
| Q3 25 | 37.2% | 72.2% | ||
| Q2 25 | 37.6% | 69.7% | ||
| Q1 25 | — | 71.9% | ||
| Q4 24 | 38.5% | 72.1% | ||
| Q3 24 | 37.7% | 69.3% | ||
| Q2 24 | 38.2% | 67.7% | ||
| Q1 24 | 37.0% | 69.5% |
| Q4 25 | 14.6% | 18.7% | ||
| Q3 25 | 15.2% | 16.7% | ||
| Q2 25 | 16.2% | 18.7% | ||
| Q1 25 | — | 15.6% | ||
| Q4 24 | 16.6% | 18.3% | ||
| Q3 24 | 15.7% | 16.2% | ||
| Q2 24 | 16.9% | 11.2% | ||
| Q1 24 | 16.0% | 12.9% |
| Q4 25 | 7.5% | 13.0% | ||
| Q3 25 | 9.3% | 12.4% | ||
| Q2 25 | 9.9% | 3.5% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | 8.0% | 16.9% | ||
| Q3 24 | 10.1% | 14.2% | ||
| Q2 24 | 11.7% | 38.6% | ||
| Q1 24 | 8.7% | 11.7% |
| Q4 25 | $0.90 | $1.42 | ||
| Q3 25 | $1.09 | $1.24 | ||
| Q2 25 | $1.10 | $0.32 | ||
| Q1 25 | — | $0.50 | ||
| Q4 24 | $0.87 | $1.38 | ||
| Q3 24 | $1.11 | $1.08 | ||
| Q2 24 | $1.35 | $2.59 | ||
| Q1 24 | $0.98 | $0.73 |
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 | — |
| Total DebtLower is stronger | $1.3B | $930.8M |
| Stockholders' EquityBook value | $2.1B | $1.5B |
| Total Assets | $4.9B | $3.2B |
| Debt / EquityLower = less leverage | 0.63× | 0.61× |
8-quarter trend — quarters aligned by calendar period.
| 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 24 | $76.5M | — |
| Q4 25 | $1.3B | $930.8M | ||
| Q3 25 | $1.1B | $934.9M | ||
| Q2 25 | $1.1B | $939.0M | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.4B | ||
| Q2 24 | $1.1B | $1.4B | ||
| Q1 24 | $992.8M | $1.4B |
| Q4 25 | $2.1B | $1.5B | ||
| Q3 25 | $2.1B | $1.4B | ||
| Q2 25 | $1.9B | $1.5B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $1.8B | $1.2B | ||
| Q3 24 | $1.8B | $1.1B | ||
| Q2 24 | $1.7B | $998.4M | ||
| Q1 24 | $1.6B | $790.7M |
| Q4 25 | $4.9B | $3.2B | ||
| Q3 25 | $4.4B | $3.0B | ||
| Q2 25 | $4.2B | $3.5B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | $4.0B | $3.1B | ||
| Q3 24 | $4.1B | $3.0B | ||
| Q2 24 | $4.0B | $2.9B | ||
| Q1 24 | $3.8B | $2.6B |
| Q4 25 | 0.63× | 0.61× | ||
| Q3 25 | 0.51× | 0.68× | ||
| Q2 25 | 0.55× | 0.64× | ||
| Q1 25 | — | 1.21× | ||
| Q4 24 | 0.60× | 1.07× | ||
| Q3 24 | 0.59× | 1.21× | ||
| Q2 24 | 0.63× | 1.36× | ||
| Q1 24 | 0.61× | 1.72× |
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 | $183.3M |
| Free Cash FlowOCF − Capex | $70.3M | $48.2M |
| FCF MarginFCF / Revenue | 9.7% | 6.2% |
| Capex IntensityCapex / Revenue | 1.5% | 17.2% |
| Cash ConversionOCF / Net Profit | 1.49× | 1.80× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $377.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $183.3M | ||
| Q3 25 | $46.6M | $125.7M | ||
| Q2 25 | $35.4M | $196.5M | ||
| Q1 25 | — | $63.8M | ||
| Q4 24 | $126.9M | $147.7M | ||
| Q3 24 | $101.0M | $98.5M | ||
| Q2 24 | $83.0M | $96.5M | ||
| Q1 24 | $44.5M | $87.6M |
| Q4 25 | $70.3M | $48.2M | ||
| Q3 25 | $37.4M | $100.1M | ||
| Q2 25 | $28.1M | $177.9M | ||
| Q1 25 | — | $51.5M | ||
| Q4 24 | $102.2M | $94.1M | ||
| Q3 24 | $90.4M | $71.8M | ||
| Q2 24 | $74.0M | $74.0M | ||
| Q1 24 | $37.1M | $65.5M |
| Q4 25 | 9.7% | 6.2% | ||
| Q3 25 | 5.2% | 14.2% | ||
| Q2 25 | 4.1% | 27.4% | ||
| Q1 25 | — | 9.1% | ||
| Q4 24 | 15.2% | 15.7% | ||
| Q3 24 | 13.4% | 13.2% | ||
| Q2 24 | 10.5% | 15.1% | ||
| Q1 24 | 5.4% | 14.8% |
| Q4 25 | 1.5% | 17.2% | ||
| Q3 25 | 1.3% | 3.6% | ||
| Q2 25 | 1.1% | 2.9% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | 3.7% | 9.0% | ||
| Q3 24 | 1.6% | 4.9% | ||
| Q2 24 | 1.3% | 4.6% | ||
| Q1 24 | 1.1% | 5.0% |
| Q4 25 | 1.49× | 1.80× | ||
| Q3 25 | 0.70× | 1.43× | ||
| Q2 25 | 0.53× | 8.73× | ||
| Q1 25 | — | 1.80× | ||
| Q4 24 | 2.36× | 1.47× | ||
| Q3 24 | 1.48× | 1.27× | ||
| Q2 24 | 1.00× | 0.51× | ||
| Q1 24 | 0.74× | 1.70× |
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% |
PODD
| U.S.Omnipod | $567.8M | 72% |
| International Omnipod | $214.0M | 27% |
| Drug Delivery | $1.9M | 0% |
