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Side-by-side financial comparison of ESAB Corp (ESAB) and Sally Beauty Holdings, Inc. (SBH). Click either name above to swap in a different company.
Sally Beauty Holdings, Inc. is the larger business by last-quarter revenue ($943.2M vs $727.8M, roughly 1.3× ESAB Corp). ESAB Corp runs the higher net margin — 7.5% vs 4.8%, a 2.7% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs 0.6%). ESAB Corp produced more free cash flow last quarter ($70.3M vs $57.5M). Over the past eight quarters, ESAB Corp's revenue compounded faster (2.8% CAGR vs 1.9%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Sally Beauty Holdings, Inc. is an American international specialty retailer and distributor of professional beauty supplies with revenues of more than $3.9 billion annually.
ESAB vs SBH — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $943.2M |
| Net Profit | $54.8M | $45.6M |
| Gross Margin | 37.0% | 51.2% |
| Operating Margin | 14.6% | 8.1% |
| Net Margin | 7.5% | 4.8% |
| Revenue YoY | 8.5% | 0.6% |
| Net Profit YoY | 2.1% | -25.3% |
| EPS (diluted) | $0.90 | $0.45 |
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 | $943.2M | ||
| Q3 25 | $715.6M | $947.1M | ||
| Q2 25 | $678.1M | $933.3M | ||
| Q1 25 | — | $883.1M | ||
| Q4 24 | $670.8M | $937.9M | ||
| Q3 24 | $673.3M | $935.0M | ||
| Q2 24 | $707.1M | $942.3M | ||
| Q1 24 | $689.7M | $908.4M |
| Q4 25 | $54.8M | $45.6M | ||
| Q3 25 | $66.9M | $49.9M | ||
| Q2 25 | $67.4M | $45.7M | ||
| Q1 25 | — | $39.2M | ||
| Q4 24 | $53.7M | $61.0M | ||
| Q3 24 | $68.2M | $48.1M | ||
| Q2 24 | $82.9M | $37.7M | ||
| Q1 24 | $60.0M | $29.2M |
| Q4 25 | 37.0% | 51.2% | ||
| Q3 25 | 37.2% | 52.2% | ||
| Q2 25 | 37.6% | 51.5% | ||
| Q1 25 | — | 52.0% | ||
| Q4 24 | 38.5% | 50.8% | ||
| Q3 24 | 37.7% | 51.2% | ||
| Q2 24 | 38.2% | 51.0% | ||
| Q1 24 | 37.0% | 51.0% |
| Q4 25 | 14.6% | 8.1% | ||
| Q3 25 | 15.2% | 8.4% | ||
| Q2 25 | 16.2% | 8.4% | ||
| Q1 25 | — | 7.9% | ||
| Q4 24 | 16.6% | 10.7% | ||
| Q3 24 | 15.7% | 8.8% | ||
| Q2 24 | 16.9% | 7.6% | ||
| Q1 24 | 16.0% | 6.6% |
| Q4 25 | 7.5% | 4.8% | ||
| Q3 25 | 9.3% | 5.3% | ||
| Q2 25 | 9.9% | 4.9% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | 8.0% | 6.5% | ||
| Q3 24 | 10.1% | 5.1% | ||
| Q2 24 | 11.7% | 4.0% | ||
| Q1 24 | 8.7% | 3.2% |
| Q4 25 | $0.90 | $0.45 | ||
| Q3 25 | $1.09 | $0.49 | ||
| Q2 25 | $1.10 | $0.44 | ||
| Q1 25 | — | $0.38 | ||
| Q4 24 | $0.87 | $0.58 | ||
| Q3 24 | $1.11 | $0.45 | ||
| Q2 24 | $1.35 | $0.36 | ||
| Q1 24 | $0.98 | $0.27 |
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 | $157.2M |
| Total DebtLower is stronger | $1.3B | $842.5M |
| Stockholders' EquityBook value | $2.1B | $823.6M |
| Total Assets | $4.9B | $2.9B |
| Debt / EquityLower = less leverage | 0.63× | 1.02× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $157.2M | ||
| Q3 25 | $258.2M | $149.2M | ||
| Q2 25 | $291.3M | $112.8M | ||
| Q1 25 | — | $92.2M | ||
| Q4 24 | $249.4M | $105.5M | ||
| Q3 24 | $253.7M | $108.0M | ||
| Q2 24 | $228.5M | $97.4M | ||
| Q1 24 | $76.5M | $97.2M |
| Q4 25 | $1.3B | $842.5M | ||
| Q3 25 | $1.1B | $862.0M | ||
| Q2 25 | $1.1B | $882.4M | ||
| Q1 25 | — | $902.8M | ||
| Q4 24 | $1.1B | $938.1M | ||
| Q3 24 | $1.1B | $978.3M | ||
| Q2 24 | $1.1B | $978.9M | ||
| Q1 24 | $992.8M | $978.4M |
| Q4 25 | $2.1B | $823.6M | ||
| Q3 25 | $2.1B | $794.2M | ||
| Q2 25 | $1.9B | $762.9M | ||
| Q1 25 | — | $699.8M | ||
| Q4 24 | $1.8B | $656.5M | ||
| Q3 24 | $1.8B | $628.5M | ||
| Q2 24 | $1.7B | $577.7M | ||
| Q1 24 | $1.6B | $550.9M |
| Q4 25 | $4.9B | $2.9B | ||
| Q3 25 | $4.4B | $2.9B | ||
| Q2 25 | $4.2B | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | $4.0B | $2.7B | ||
| Q3 24 | $4.1B | $2.8B | ||
| Q2 24 | $4.0B | $2.7B | ||
| Q1 24 | $3.8B | $2.7B |
| Q4 25 | 0.63× | 1.02× | ||
| Q3 25 | 0.51× | 1.09× | ||
| Q2 25 | 0.55× | 1.16× | ||
| Q1 25 | — | 1.29× | ||
| Q4 24 | 0.60× | 1.43× | ||
| Q3 24 | 0.59× | 1.56× | ||
| Q2 24 | 0.63× | 1.69× | ||
| Q1 24 | 0.61× | 1.78× |
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 | $93.2M |
| Free Cash FlowOCF − Capex | $70.3M | $57.5M |
| FCF MarginFCF / Revenue | 9.7% | 6.1% |
| Capex IntensityCapex / Revenue | 1.5% | 3.8% |
| Cash ConversionOCF / Net Profit | 1.49× | 2.05× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $216.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $93.2M | ||
| Q3 25 | $46.6M | $120.9M | ||
| Q2 25 | $35.4M | $69.4M | ||
| Q1 25 | — | $51.1M | ||
| Q4 24 | $126.9M | $33.5M | ||
| Q3 24 | $101.0M | $110.7M | ||
| Q2 24 | $83.0M | $47.9M | ||
| Q1 24 | $44.5M | $36.9M |
| Q4 25 | $70.3M | $57.5M | ||
| Q3 25 | $37.4M | $78.0M | ||
| Q2 25 | $28.1M | $49.1M | ||
| Q1 25 | — | $32.2M | ||
| Q4 24 | $102.2M | $13.4M | ||
| Q3 24 | $90.4M | $73.3M | ||
| Q2 24 | $74.0M | $28.7M | ||
| Q1 24 | $37.1M | $22.8M |
| Q4 25 | 9.7% | 6.1% | ||
| Q3 25 | 5.2% | 8.2% | ||
| Q2 25 | 4.1% | 5.3% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | 15.2% | 1.4% | ||
| Q3 24 | 13.4% | 7.8% | ||
| Q2 24 | 10.5% | 3.1% | ||
| Q1 24 | 5.4% | 2.5% |
| Q4 25 | 1.5% | 3.8% | ||
| Q3 25 | 1.3% | 4.5% | ||
| Q2 25 | 1.1% | 2.2% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | 3.7% | 2.1% | ||
| Q3 24 | 1.6% | 4.0% | ||
| Q2 24 | 1.3% | 2.0% | ||
| Q1 24 | 1.1% | 1.6% |
| Q4 25 | 1.49× | 2.05× | ||
| Q3 25 | 0.70× | 2.42× | ||
| Q2 25 | 0.53× | 1.52× | ||
| Q1 25 | — | 1.30× | ||
| Q4 24 | 2.36× | 0.55× | ||
| Q3 24 | 1.48× | 2.30× | ||
| Q2 24 | 1.00× | 1.27× | ||
| Q1 24 | 0.74× | 1.26× |
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% |
SBH
| Sally Beauty Supply | $531.6M | 56% |
| Beauty Systems Group | $411.6M | 44% |
