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Side-by-side financial comparison of ESAB Corp (ESAB) and Public Storage (PSA). Click either name above to swap in a different company.
Public Storage is the larger business by last-quarter revenue ($1.2B vs $727.8M, roughly 1.7× ESAB Corp). Public Storage runs the higher net margin — 41.7% vs 7.5%, a 34.2% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs 3.3%). Over the past eight quarters, ESAB Corp's revenue compounded faster (2.8% CAGR vs 2.5%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Public Storage, headquartered in Glendale, California, is a real estate investment trust that invests in self storage. It is the largest brand of self-storage services in the US and owns approximately 9% of the self storage square footage in the U.S. As of December 31, 2024, the company operated 3,073 self-storage facilities containing an aggregate of 221 million net rentable square feet of space.
ESAB vs PSA — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $1.2B |
| Net Profit | $54.8M | $507.1M |
| Gross Margin | 37.0% | — |
| Operating Margin | 14.6% | 40.7% |
| Net Margin | 7.5% | 41.7% |
| Revenue YoY | 8.5% | 3.3% |
| Net Profit YoY | 2.1% | -17.5% |
| EPS (diluted) | $0.90 | $2.59 |
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 | $1.2B | ||
| Q3 25 | $715.6M | $1.2B | ||
| Q2 25 | $678.1M | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $670.8M | $1.2B | ||
| Q3 24 | $673.3M | $1.2B | ||
| Q2 24 | $707.1M | $1.2B | ||
| Q1 24 | $689.7M | $1.2B |
| Q4 25 | $54.8M | $507.1M | ||
| Q3 25 | $66.9M | $511.1M | ||
| Q2 25 | $67.4M | $358.4M | ||
| Q1 25 | — | $407.8M | ||
| Q4 24 | $53.7M | $614.6M | ||
| Q3 24 | $68.2M | $430.3M | ||
| Q2 24 | $82.9M | $518.1M | ||
| Q1 24 | $60.0M | $508.9M |
| 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% | 40.7% | ||
| Q3 25 | 15.2% | 42.3% | ||
| Q2 25 | 16.2% | 30.4% | ||
| Q1 25 | — | 34.8% | ||
| Q4 24 | 16.6% | 52.4% | ||
| Q3 24 | 15.7% | 36.7% | ||
| Q2 24 | 16.9% | 44.6% | ||
| Q1 24 | 16.0% | 44.3% |
| Q4 25 | 7.5% | 41.7% | ||
| Q3 25 | 9.3% | 41.8% | ||
| Q2 25 | 9.9% | 29.8% | ||
| Q1 25 | — | 34.5% | ||
| Q4 24 | 8.0% | 52.2% | ||
| Q3 24 | 10.1% | 36.2% | ||
| Q2 24 | 11.7% | 44.2% | ||
| Q1 24 | 8.7% | 44.0% |
| Q4 25 | $0.90 | $2.59 | ||
| Q3 25 | $1.09 | $2.62 | ||
| Q2 25 | $1.10 | $1.76 | ||
| Q1 25 | — | $2.04 | ||
| Q4 24 | $0.87 | $3.22 | ||
| Q3 24 | $1.11 | $2.16 | ||
| Q2 24 | $1.35 | $2.66 | ||
| Q1 24 | $0.98 | $2.60 |
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 | $318.1M |
| Total DebtLower is stronger | $1.3B | $10.3B |
| Stockholders' EquityBook value | $2.1B | $9.2B |
| Total Assets | $4.9B | $20.2B |
| Debt / EquityLower = less leverage | 0.63× | 1.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $318.1M | ||
| Q3 25 | $258.2M | $296.5M | ||
| Q2 25 | $291.3M | $1.1B | ||
| Q1 25 | — | $287.2M | ||
| Q4 24 | $249.4M | $447.4M | ||
| Q3 24 | $253.7M | $599.0M | ||
| Q2 24 | $228.5M | $542.3M | ||
| Q1 24 | $76.5M | $271.6M |
| Q4 25 | $1.3B | $10.3B | ||
| Q3 25 | $1.1B | $10.0B | ||
| Q2 25 | $1.1B | $10.4B | ||
| Q1 25 | — | $9.4B | ||
| Q4 24 | $1.1B | $9.4B | ||
| Q3 24 | $1.1B | $9.5B | ||
| Q2 24 | $1.1B | $9.4B | ||
| Q1 24 | $992.8M | $9.1B |
| Q4 25 | $2.1B | $9.2B | ||
| Q3 25 | $2.1B | $9.3B | ||
| Q2 25 | $1.9B | $9.4B | ||
| Q1 25 | — | $9.6B | ||
| Q4 24 | $1.8B | $9.7B | ||
| Q3 24 | $1.8B | $9.6B | ||
| Q2 24 | $1.7B | $9.7B | ||
| Q1 24 | $1.6B | $9.9B |
| Q4 25 | $4.9B | $20.2B | ||
| Q3 25 | $4.4B | $20.1B | ||
| Q2 25 | $4.2B | $20.5B | ||
| Q1 25 | — | $19.6B | ||
| Q4 24 | $4.0B | $19.8B | ||
| Q3 24 | $4.1B | $19.8B | ||
| Q2 24 | $4.0B | $19.8B | ||
| Q1 24 | $3.8B | $19.6B |
| Q4 25 | 0.63× | 1.11× | ||
| Q3 25 | 0.51× | 1.08× | ||
| Q2 25 | 0.55× | 1.11× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | 0.60× | 0.96× | ||
| Q3 24 | 0.59× | 0.99× | ||
| Q2 24 | 0.63× | 0.97× | ||
| Q1 24 | 0.61× | 0.91× |
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 | $733.6M |
| Free Cash FlowOCF − Capex | $70.3M | — |
| FCF MarginFCF / Revenue | 9.7% | — |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | 1.49× | 1.45× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $733.6M | ||
| Q3 25 | $46.6M | $875.1M | ||
| Q2 25 | $35.4M | $872.7M | ||
| Q1 25 | — | $705.1M | ||
| Q4 24 | $126.9M | $768.6M | ||
| Q3 24 | $101.0M | $798.8M | ||
| Q2 24 | $83.0M | $895.3M | ||
| Q1 24 | $44.5M | $665.6M |
| 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 24 | $37.1M | — |
| 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 24 | 5.4% | — |
| 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 24 | 1.1% | — |
| Q4 25 | 1.49× | 1.45× | ||
| Q3 25 | 0.70× | 1.71× | ||
| Q2 25 | 0.53× | 2.43× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | 2.36× | 1.25× | ||
| Q3 24 | 1.48× | 1.86× | ||
| Q2 24 | 1.00× | 1.73× | ||
| Q1 24 | 0.74× | 1.31× |
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% |
PSA
| Self Storage Operations | $1.1B | 93% |
| Ancillary Operations | $86.9M | 7% |
