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Side-by-side financial comparison of ESAB Corp (ESAB) and QuidelOrtho Corp (QDEL). Click either name above to swap in a different company.
ESAB Corp is the larger business by last-quarter revenue ($745.6M vs $619.8M, roughly 1.2× QuidelOrtho Corp). ESAB Corp runs the higher net margin — 6.6% vs -14.8%, a 21.4% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (9.9% vs -10.5%). Over the past eight quarters, ESAB Corp's revenue compounded faster (4.0% CAGR vs -6.6%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
QuidelOrtho Corporation is an American manufacturer of diagnostic healthcare products that are sold worldwide.
ESAB vs QDEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2027
| Metric | | |
|---|---|---|
| Revenue | $745.6M | $619.8M |
| Net Profit | $49.2M | $-91.8M |
| Gross Margin | 36.9% | — |
| Operating Margin | 12.1% | — |
| Net Margin | 6.6% | -14.8% |
| Revenue YoY | 9.9% | -10.5% |
| Net Profit YoY | -29.3% | — |
| EPS (diluted) | $0.78 | $-1.35 |
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 | $619.8M | ||
| Q4 25 | $727.8M | — | ||
| Q3 25 | $715.6M | $699.9M | ||
| Q2 25 | $678.1M | $613.9M | ||
| Q1 25 | — | $692.8M | ||
| Q4 24 | $670.8M | $707.8M | ||
| Q3 24 | $673.3M | $727.1M | ||
| Q2 24 | $707.1M | $637.0M |
| Q1 26 | $49.2M | $-91.8M | ||
| Q4 25 | $54.8M | — | ||
| Q3 25 | $66.9M | $-733.0M | ||
| Q2 25 | $67.4M | $-255.4M | ||
| Q1 25 | — | $-12.7M | ||
| Q4 24 | $53.7M | $-178.4M | ||
| Q3 24 | $68.2M | $-19.9M | ||
| Q2 24 | $82.9M | $-147.7M |
| Q1 26 | 36.9% | — | ||
| 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 26 | 12.1% | — | ||
| Q4 25 | 14.6% | — | ||
| Q3 25 | 15.2% | -100.7% | ||
| Q2 25 | 16.2% | -29.4% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | 16.6% | -14.2% | ||
| Q3 24 | 15.7% | 2.1% | ||
| Q2 24 | 16.9% | -18.4% |
| Q1 26 | 6.6% | -14.8% | ||
| Q4 25 | 7.5% | — | ||
| Q3 25 | 9.3% | -104.7% | ||
| Q2 25 | 9.9% | -41.6% | ||
| Q1 25 | — | -1.8% | ||
| Q4 24 | 8.0% | -25.2% | ||
| Q3 24 | 10.1% | -2.7% | ||
| Q2 24 | 11.7% | -23.2% |
| Q1 26 | $0.78 | $-1.35 | ||
| Q4 25 | $0.90 | — | ||
| Q3 25 | $1.09 | $-10.78 | ||
| Q2 25 | $1.10 | $-3.77 | ||
| Q1 25 | — | $-0.19 | ||
| Q4 24 | $0.87 | $-2.54 | ||
| Q3 24 | $1.11 | $-0.30 | ||
| Q2 24 | $1.35 | $-2.20 |
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 | $140.4M |
| Total DebtLower is stronger | $2.0B | $2.5B |
| Stockholders' EquityBook value | $2.2B | $1.9B |
| Total Assets | $5.6B | $5.6B |
| Debt / EquityLower = less leverage | 0.91× | 1.33× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.0B | $140.4M | ||
| Q4 25 | $218.2M | — | ||
| Q3 25 | $258.2M | $98.1M | ||
| Q2 25 | $291.3M | $151.7M | ||
| Q1 25 | — | $127.1M | ||
| Q4 24 | $249.4M | $98.3M | ||
| Q3 24 | $253.7M | $143.7M | ||
| Q2 24 | $228.5M | $107.0M |
| Q1 26 | $2.0B | $2.5B | ||
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.1B | $2.5B | ||
| Q2 25 | $1.1B | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | $1.1B | $2.1B | ||
| Q3 24 | $1.1B | $2.2B | ||
| Q2 24 | $1.1B | $2.2B |
| Q1 26 | $2.2B | $1.9B | ||
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | $2.0B | ||
| Q2 25 | $1.9B | $2.8B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | $1.8B | $3.0B | ||
| Q3 24 | $1.8B | $3.2B | ||
| Q2 24 | $1.7B | $3.2B |
| Q1 26 | $5.6B | $5.6B | ||
| Q4 25 | $4.9B | — | ||
| Q3 25 | $4.4B | $5.7B | ||
| Q2 25 | $4.2B | $6.4B | ||
| Q1 25 | — | $6.5B | ||
| Q4 24 | $4.0B | $6.4B | ||
| Q3 24 | $4.1B | $6.8B | ||
| Q2 24 | $4.0B | $6.7B |
| Q1 26 | 0.91× | 1.33× | ||
| Q4 25 | 0.63× | — | ||
| Q3 25 | 0.51× | 1.23× | ||
| Q2 25 | 0.55× | 0.74× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | 0.60× | 0.72× | ||
| Q3 24 | 0.59× | 0.68× | ||
| Q2 24 | 0.63× | 0.70× |
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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.95× | — |
| 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 | $-45.5M | ||
| Q2 25 | $35.4M | $-46.8M | ||
| Q1 25 | — | $65.6M | ||
| Q4 24 | $126.9M | $63.7M | ||
| Q3 24 | $101.0M | $117.9M | ||
| Q2 24 | $83.0M | $-97.9M |
| Q1 26 | — | — | ||
| Q4 25 | $70.3M | — | ||
| Q3 25 | $37.4M | $-94.7M | ||
| Q2 25 | $28.1M | $-84.3M | ||
| Q1 25 | — | $9.4M | ||
| Q4 24 | $102.2M | $16.5M | ||
| Q3 24 | $90.4M | $71.4M | ||
| Q2 24 | $74.0M | $-133.2M |
| Q1 26 | — | — | ||
| Q4 25 | 9.7% | — | ||
| Q3 25 | 5.2% | -13.5% | ||
| Q2 25 | 4.1% | -13.7% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | 15.2% | 2.3% | ||
| Q3 24 | 13.4% | 9.8% | ||
| Q2 24 | 10.5% | -20.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.5% | — | ||
| Q3 25 | 1.3% | 7.0% | ||
| Q2 25 | 1.1% | 6.1% | ||
| Q1 25 | — | 8.1% | ||
| Q4 24 | 3.7% | 6.7% | ||
| Q3 24 | 1.6% | 6.4% | ||
| Q2 24 | 1.3% | 5.5% |
| Q1 26 | 0.95× | — | ||
| Q4 25 | 1.49× | — | ||
| Q3 25 | 0.70× | — | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.36× | — | ||
| Q3 24 | 1.48× | — | ||
| Q2 24 | 1.00× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESAB
Segment breakdown not available.
QDEL
| Labs | $353.1M | 57% |
| Immunohematology | $138.3M | 22% |
| Point of Care | $112.8M | 18% |
| Molecular Diagnostics | $7.8M | 1% |
