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Side-by-side financial comparison of ESAB Corp (ESAB) and SEALED AIR CORP (SEE). Click either name above to swap in a different company.
SEALED AIR CORP is the larger business by last-quarter revenue ($1.4B vs $727.8M, roughly 1.9× ESAB Corp). ESAB Corp runs the higher net margin — 7.5% vs 3.1%, a 4.4% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs 2.6%). SEALED AIR CORP produced more free cash flow last quarter ($257.7M vs $70.3M). Over the past eight quarters, ESAB Corp's revenue compounded faster (2.8% CAGR vs 2.7%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Sealed Air Corporation is a global provider of innovative packaging and protective solutions. Its core offerings include cushioning materials, food safety and preservation packaging, and sustainable waste-reducing packaging systems, serving retail, e-commerce, food and beverage, and industrial manufacturing markets worldwide.
ESAB vs SEE — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $1.4B |
| Net Profit | $54.8M | $43.8M |
| Gross Margin | 37.0% | 28.6% |
| Operating Margin | 14.6% | 11.4% |
| Net Margin | 7.5% | 3.1% |
| Revenue YoY | 8.5% | 2.6% |
| Net Profit YoY | 2.1% | 700.0% |
| EPS (diluted) | $0.90 | $0.30 |
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 | $1.4B | ||
| Q3 25 | $715.6M | $1.3B | ||
| Q2 25 | $678.1M | $1.3B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $670.8M | $1.4B | ||
| Q3 24 | $673.3M | $1.3B | ||
| Q2 24 | $707.1M | $1.3B | ||
| Q1 24 | $689.7M | $1.3B |
| Q4 25 | $54.8M | $43.8M | ||
| Q3 25 | $66.9M | $255.1M | ||
| Q2 25 | $67.4M | $93.1M | ||
| Q1 25 | — | $113.5M | ||
| Q4 24 | $53.7M | $-7.3M | ||
| Q3 24 | $68.2M | $91.7M | ||
| Q2 24 | $82.9M | $98.3M | ||
| Q1 24 | $60.0M | $82.0M |
| Q4 25 | 37.0% | 28.6% | ||
| Q3 25 | 37.2% | 29.8% | ||
| Q2 25 | 37.6% | 30.7% | ||
| Q1 25 | — | 30.9% | ||
| Q4 24 | 38.5% | 30.0% | ||
| Q3 24 | 37.7% | 30.1% | ||
| Q2 24 | 38.2% | 31.2% | ||
| Q1 24 | 37.0% | 30.3% |
| Q4 25 | 14.6% | 11.4% | ||
| Q3 25 | 15.2% | 13.8% | ||
| Q2 25 | 16.2% | 15.0% | ||
| Q1 25 | — | 14.5% | ||
| Q4 24 | 16.6% | 11.7% | ||
| Q3 24 | 15.7% | 13.9% | ||
| Q2 24 | 16.9% | 15.4% | ||
| Q1 24 | 16.0% | 14.0% |
| Q4 25 | 7.5% | 3.1% | ||
| Q3 25 | 9.3% | 19.0% | ||
| Q2 25 | 9.9% | 7.0% | ||
| Q1 25 | — | 9.0% | ||
| Q4 24 | 8.0% | -0.5% | ||
| Q3 24 | 10.1% | 6.9% | ||
| Q2 24 | 11.7% | 7.4% | ||
| Q1 24 | 8.7% | 6.2% |
| Q4 25 | $0.90 | $0.30 | ||
| Q3 25 | $1.09 | $1.73 | ||
| Q2 25 | $1.10 | $0.63 | ||
| Q1 25 | — | $0.77 | ||
| Q4 24 | $0.87 | $-0.05 | ||
| Q3 24 | $1.11 | $0.63 | ||
| Q2 24 | $1.35 | $0.67 | ||
| Q1 24 | $0.98 | $0.56 |
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 | $344.0M |
| Total DebtLower is stronger | $1.3B | $3.3B |
| Stockholders' EquityBook value | $2.1B | $1.2B |
| Total Assets | $4.9B | $7.0B |
| Debt / EquityLower = less leverage | 0.63× | 2.65× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $344.0M | ||
| Q3 25 | $258.2M | $282.5M | ||
| Q2 25 | $291.3M | $354.4M | ||
| Q1 25 | — | $335.2M | ||
| Q4 24 | $249.4M | $371.8M | ||
| Q3 24 | $253.7M | $386.0M | ||
| Q2 24 | $228.5M | $388.6M | ||
| Q1 24 | $76.5M | $352.8M |
| Q4 25 | $1.3B | $3.3B | ||
| Q3 25 | $1.1B | $4.0B | ||
| Q2 25 | $1.1B | $4.0B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | $1.1B | $4.2B | ||
| Q3 24 | $1.1B | $4.3B | ||
| Q2 24 | $1.1B | $4.4B | ||
| Q1 24 | $992.8M | $4.5B |
| Q4 25 | $2.1B | $1.2B | ||
| Q3 25 | $2.1B | $1.2B | ||
| Q2 25 | $1.9B | $953.1M | ||
| Q1 25 | — | $797.9M | ||
| Q4 24 | $1.8B | $624.5M | ||
| Q3 24 | $1.8B | $771.2M | ||
| Q2 24 | $1.7B | $650.1M | ||
| Q1 24 | $1.6B | $598.3M |
| Q4 25 | $4.9B | $7.0B | ||
| Q3 25 | $4.4B | $7.1B | ||
| Q2 25 | $4.2B | $7.2B | ||
| Q1 25 | — | $7.0B | ||
| Q4 24 | $4.0B | $7.0B | ||
| Q3 24 | $4.1B | $7.3B | ||
| Q2 24 | $4.0B | $7.3B | ||
| Q1 24 | $3.8B | $7.2B |
| Q4 25 | 0.63× | 2.65× | ||
| Q3 25 | 0.51× | 3.34× | ||
| Q2 25 | 0.55× | 4.18× | ||
| Q1 25 | — | 5.26× | ||
| Q4 24 | 0.60× | 6.72× | ||
| Q3 24 | 0.59× | 5.62× | ||
| Q2 24 | 0.63× | 6.81× | ||
| Q1 24 | 0.61× | 7.49× |
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 | $293.6M |
| Free Cash FlowOCF − Capex | $70.3M | $257.7M |
| FCF MarginFCF / Revenue | 9.7% | 18.5% |
| Capex IntensityCapex / Revenue | 1.5% | 2.6% |
| Cash ConversionOCF / Net Profit | 1.49× | 6.70× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $458.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $293.6M | ||
| Q3 25 | $46.6M | $165.9M | ||
| Q2 25 | $35.4M | $136.6M | ||
| Q1 25 | — | $31.9M | ||
| Q4 24 | $126.9M | $244.2M | ||
| Q3 24 | $101.0M | $170.5M | ||
| Q2 24 | $83.0M | $188.2M | ||
| Q1 24 | $44.5M | $125.1M |
| Q4 25 | $70.3M | $257.7M | ||
| Q3 25 | $37.4M | $119.6M | ||
| Q2 25 | $28.1M | $93.2M | ||
| Q1 25 | — | $-12.0M | ||
| Q4 24 | $102.2M | $185.1M | ||
| Q3 24 | $90.4M | $115.2M | ||
| Q2 24 | $74.0M | $129.5M | ||
| Q1 24 | $37.1M | $78.0M |
| Q4 25 | 9.7% | 18.5% | ||
| Q3 25 | 5.2% | 8.9% | ||
| Q2 25 | 4.1% | 7.0% | ||
| Q1 25 | — | -0.9% | ||
| Q4 24 | 15.2% | 13.6% | ||
| Q3 24 | 13.4% | 8.6% | ||
| Q2 24 | 10.5% | 9.7% | ||
| Q1 24 | 5.4% | 5.9% |
| Q4 25 | 1.5% | 2.6% | ||
| Q3 25 | 1.3% | 3.4% | ||
| Q2 25 | 1.1% | 3.3% | ||
| Q1 25 | — | 3.5% | ||
| Q4 24 | 3.7% | 4.4% | ||
| Q3 24 | 1.6% | 4.1% | ||
| Q2 24 | 1.3% | 4.4% | ||
| Q1 24 | 1.1% | 3.6% |
| Q4 25 | 1.49× | 6.70× | ||
| Q3 25 | 0.70× | 0.65× | ||
| Q2 25 | 0.53× | 1.47× | ||
| Q1 25 | — | 0.28× | ||
| Q4 24 | 2.36× | — | ||
| Q3 24 | 1.48× | 1.86× | ||
| Q2 24 | 1.00× | 1.91× | ||
| Q1 24 | 0.74× | 1.53× |
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% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
