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Side-by-side financial comparison of ESAB Corp (ESAB) and RLI CORP (RLI). Click either name above to swap in a different company.
ESAB Corp is the larger business by last-quarter revenue ($727.8M vs $465.7M, roughly 1.6× RLI CORP). RLI CORP runs the higher net margin — 19.6% vs 7.5%, a 12.0% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs 6.1%). RLI CORP produced more free cash flow last quarter ($155.0M vs $70.3M). Over the past eight quarters, ESAB Corp's revenue compounded faster (2.8% CAGR vs 2.3%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
RLI Corp. is an American insurance company specializing in property insurance and casualty insurance. It is headquartered in Peoria, Illinois.
ESAB vs RLI — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $465.7M |
| Net Profit | $54.8M | $91.2M |
| Gross Margin | 37.0% | — |
| Operating Margin | 14.6% | 24.4% |
| Net Margin | 7.5% | 19.6% |
| Revenue YoY | 8.5% | 6.1% |
| Net Profit YoY | 2.1% | 123.1% |
| EPS (diluted) | $0.90 | $1.00 |
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 | $465.7M | ||
| Q3 25 | $715.6M | $509.3M | ||
| Q2 25 | $678.1M | $499.8M | ||
| Q1 25 | — | $407.7M | ||
| Q4 24 | $670.8M | $439.1M | ||
| Q3 24 | $673.3M | $470.0M | ||
| Q2 24 | $707.1M | $416.4M | ||
| Q1 24 | $689.7M | $444.8M |
| Q4 25 | $54.8M | $91.2M | ||
| Q3 25 | $66.9M | $124.6M | ||
| Q2 25 | $67.4M | $124.3M | ||
| Q1 25 | — | $63.2M | ||
| Q4 24 | $53.7M | $40.9M | ||
| Q3 24 | $68.2M | $95.0M | ||
| Q2 24 | $82.9M | $82.0M | ||
| Q1 24 | $60.0M | $127.9M |
| 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% | 24.4% | ||
| Q3 25 | 15.2% | 30.9% | ||
| Q2 25 | 16.2% | 31.3% | ||
| Q1 25 | — | 19.3% | ||
| Q4 24 | 16.6% | 10.8% | ||
| Q3 24 | 15.7% | 24.9% | ||
| Q2 24 | 16.9% | 24.8% | ||
| Q1 24 | 16.0% | 36.0% |
| Q4 25 | 7.5% | 19.6% | ||
| Q3 25 | 9.3% | 24.5% | ||
| Q2 25 | 9.9% | 24.9% | ||
| Q1 25 | — | 15.5% | ||
| Q4 24 | 8.0% | 9.3% | ||
| Q3 24 | 10.1% | 20.2% | ||
| Q2 24 | 11.7% | 19.7% | ||
| Q1 24 | 8.7% | 28.8% |
| Q4 25 | $0.90 | $1.00 | ||
| Q3 25 | $1.09 | $1.35 | ||
| Q2 25 | $1.10 | $1.34 | ||
| Q1 25 | — | $0.68 | ||
| Q4 24 | $0.87 | $-2.87 | ||
| Q3 24 | $1.11 | $2.06 | ||
| Q2 24 | $1.35 | $1.78 | ||
| Q1 24 | $0.98 | $2.77 |
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 | — |
| Stockholders' EquityBook value | $2.1B | $1.8B |
| Total Assets | $4.9B | $6.2B |
| Debt / EquityLower = less leverage | 0.63× | — |
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 | — | ||
| Q3 25 | $1.1B | $100.0M | ||
| Q2 25 | $1.1B | $100.0M | ||
| Q1 25 | — | $100.0M | ||
| Q4 24 | $1.1B | $100.0M | ||
| Q3 24 | $1.1B | $100.0M | ||
| Q2 24 | $1.1B | $100.0M | ||
| Q1 24 | $992.8M | $100.0M |
| Q4 25 | $2.1B | $1.8B | ||
| Q3 25 | $2.1B | $1.9B | ||
| Q2 25 | $1.9B | $1.7B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | $1.8B | $1.5B | ||
| Q3 24 | $1.8B | $1.7B | ||
| Q2 24 | $1.7B | $1.6B | ||
| Q1 24 | $1.6B | $1.5B |
| Q4 25 | $4.9B | $6.2B | ||
| Q3 25 | $4.4B | $6.2B | ||
| Q2 25 | $4.2B | $6.0B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | $4.0B | $5.6B | ||
| Q3 24 | $4.1B | $5.8B | ||
| Q2 24 | $4.0B | $5.5B | ||
| Q1 24 | $3.8B | $5.3B |
| Q4 25 | 0.63× | — | ||
| Q3 25 | 0.51× | 0.05× | ||
| Q2 25 | 0.55× | 0.06× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | 0.60× | 0.07× | ||
| Q3 24 | 0.59× | 0.06× | ||
| Q2 24 | 0.63× | 0.06× | ||
| Q1 24 | 0.61× | 0.07× |
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 | $156.8M |
| Free Cash FlowOCF − Capex | $70.3M | $155.0M |
| FCF MarginFCF / Revenue | 9.7% | 33.3% |
| Capex IntensityCapex / Revenue | 1.5% | 0.4% |
| Cash ConversionOCF / Net Profit | 1.49× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $608.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $156.8M | ||
| Q3 25 | $46.6M | $179.2M | ||
| Q2 25 | $35.4M | $174.7M | ||
| Q1 25 | — | $103.5M | ||
| Q4 24 | $126.9M | $128.1M | ||
| Q3 24 | $101.0M | $219.4M | ||
| Q2 24 | $83.0M | $141.8M | ||
| Q1 24 | $44.5M | $70.9M |
| Q4 25 | $70.3M | $155.0M | ||
| Q3 25 | $37.4M | $177.8M | ||
| Q2 25 | $28.1M | $173.4M | ||
| Q1 25 | — | $102.5M | ||
| Q4 24 | $102.2M | $127.6M | ||
| Q3 24 | $90.4M | $219.0M | ||
| Q2 24 | $74.0M | $139.1M | ||
| Q1 24 | $37.1M | $69.9M |
| Q4 25 | 9.7% | 33.3% | ||
| Q3 25 | 5.2% | 34.9% | ||
| Q2 25 | 4.1% | 34.7% | ||
| Q1 25 | — | 25.1% | ||
| Q4 24 | 15.2% | 29.0% | ||
| Q3 24 | 13.4% | 46.6% | ||
| Q2 24 | 10.5% | 33.4% | ||
| Q1 24 | 5.4% | 15.7% |
| Q4 25 | 1.5% | 0.4% | ||
| Q3 25 | 1.3% | 0.3% | ||
| Q2 25 | 1.1% | 0.3% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | 3.7% | 0.1% | ||
| Q3 24 | 1.6% | 0.1% | ||
| Q2 24 | 1.3% | 0.7% | ||
| Q1 24 | 1.1% | 0.2% |
| Q4 25 | 1.49× | 1.72× | ||
| Q3 25 | 0.70× | 1.44× | ||
| Q2 25 | 0.53× | 1.41× | ||
| Q1 25 | — | 1.64× | ||
| Q4 24 | 2.36× | 3.13× | ||
| Q3 24 | 1.48× | 2.31× | ||
| Q2 24 | 1.00× | 1.73× | ||
| Q1 24 | 0.74× | 0.55× |
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% |
RLI
| Casualty Segment | $246.8M | 53% |
| Property Insurance Segment | $122.5M | 26% |
| Other | $59.3M | 13% |
| Surety Insurance Segment | $37.1M | 8% |
