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Side-by-side financial comparison of ESAB Corp (ESAB) and SELECT MEDICAL HOLDINGS CORP (SEM). Click either name above to swap in a different company.
SELECT MEDICAL HOLDINGS CORP is the larger business by last-quarter revenue ($1.4B vs $727.8M, roughly 2.0× ESAB Corp). ESAB Corp runs the higher net margin — 7.5% vs 4.5%, a 3.0% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs 5.0%). Over the past eight quarters, SELECT MEDICAL HOLDINGS CORP's revenue compounded faster (5.3% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Select Medical is a healthcare company based in Pennsylvania. It owns long-term acute care and inpatient rehabilitation hospitals, as well as occupational health and physical therapy clinics. Select Medical is a subsidiary of Select Medical Holdings, which is listed on the New York Stock Exchange.
ESAB vs SEM — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $1.4B |
| Net Profit | $54.8M | $63.8M |
| Gross Margin | 37.0% | — |
| Operating Margin | 14.6% | 6.9% |
| Net Margin | 7.5% | 4.5% |
| Revenue YoY | 8.5% | 5.0% |
| Net Profit YoY | 2.1% | -14.7% |
| EPS (diluted) | $0.90 | $0.35 |
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 | — | $1.4B | ||
| Q4 25 | $727.8M | $1.4B | ||
| Q3 25 | $715.6M | $1.4B | ||
| Q2 25 | $678.1M | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | $670.8M | $1.3B | ||
| Q3 24 | $673.3M | $1.3B | ||
| Q2 24 | $707.1M | $1.3B |
| Q1 26 | — | $63.8M | ||
| Q4 25 | $54.8M | $20.2M | ||
| Q3 25 | $66.9M | $28.8M | ||
| Q2 25 | $67.4M | $40.6M | ||
| Q1 25 | — | $56.7M | ||
| Q4 24 | $53.7M | $-16.1M | ||
| Q3 24 | $68.2M | $55.6M | ||
| Q2 24 | $82.9M | $77.6M |
| Q1 26 | — | — | ||
| 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 | — | 6.9% | ||
| Q4 25 | 14.6% | 4.6% | ||
| Q3 25 | 15.2% | 5.4% | ||
| Q2 25 | 16.2% | 6.5% | ||
| Q1 25 | — | 8.3% | ||
| Q4 24 | 16.6% | 1.6% | ||
| Q3 24 | 15.7% | 4.3% | ||
| Q2 24 | 16.9% | 5.8% |
| Q1 26 | — | 4.5% | ||
| Q4 25 | 7.5% | 1.4% | ||
| Q3 25 | 9.3% | 2.1% | ||
| Q2 25 | 9.9% | 3.0% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | 8.0% | -1.2% | ||
| Q3 24 | 10.1% | 4.4% | ||
| Q2 24 | 11.7% | 6.1% |
| Q1 26 | — | $0.35 | ||
| Q4 25 | $0.90 | $0.17 | ||
| Q3 25 | $1.09 | $0.23 | ||
| Q2 25 | $1.10 | $0.32 | ||
| Q1 25 | — | $0.44 | ||
| Q4 24 | $0.87 | $-0.12 | ||
| Q3 24 | $1.11 | $0.43 | ||
| Q2 24 | $1.35 | $0.60 |
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 | $25.7M |
| Total DebtLower is stronger | $1.3B | $1.8B |
| Stockholders' EquityBook value | $2.1B | $2.1B |
| Total Assets | $4.9B | $6.0B |
| Debt / EquityLower = less leverage | 0.63× | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $25.7M | ||
| Q4 25 | $218.2M | $26.5M | ||
| Q3 25 | $258.2M | $60.1M | ||
| Q2 25 | $291.3M | $52.3M | ||
| Q1 25 | — | $53.2M | ||
| Q4 24 | $249.4M | $59.7M | ||
| Q3 24 | $253.7M | $191.5M | ||
| Q2 24 | $228.5M | $111.2M |
| Q1 26 | — | $1.8B | ||
| Q4 25 | $1.3B | $1.8B | ||
| Q3 25 | $1.1B | $1.7B | ||
| Q2 25 | $1.1B | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $1.1B | $3.1B | ||
| Q2 24 | $1.1B | $3.6B |
| Q1 26 | — | $2.1B | ||
| Q4 25 | $2.1B | $1.7B | ||
| Q3 25 | $2.1B | $1.7B | ||
| Q2 25 | $1.9B | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $1.8B | $1.9B | ||
| Q2 24 | $1.7B | $1.4B |
| Q1 26 | — | $6.0B | ||
| Q4 25 | $4.9B | $5.9B | ||
| Q3 25 | $4.4B | $5.7B | ||
| Q2 25 | $4.2B | $5.7B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | $4.0B | $5.6B | ||
| Q3 24 | $4.1B | $8.0B | ||
| Q2 24 | $4.0B | $7.9B |
| Q1 26 | — | 0.88× | ||
| Q4 25 | 0.63× | 1.06× | ||
| Q3 25 | 0.51× | 1.03× | ||
| Q2 25 | 0.55× | 1.10× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | 0.60× | 1.01× | ||
| Q3 24 | 0.59× | 1.62× | ||
| Q2 24 | 0.63× | 2.54× |
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 | — |
| Free Cash FlowOCF − Capex | $70.3M | — |
| FCF MarginFCF / Revenue | 9.7% | — |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | 1.49× | — |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $81.5M | $64.3M | ||
| Q3 25 | $46.6M | $175.3M | ||
| Q2 25 | $35.4M | $110.3M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | $126.9M | $125.4M | ||
| Q3 24 | $101.0M | $181.0M | ||
| Q2 24 | $83.0M | $278.2M |
| Q1 26 | — | — | ||
| Q4 25 | $70.3M | $5.2M | ||
| Q3 25 | $37.4M | $122.2M | ||
| Q2 25 | $28.1M | $45.6M | ||
| Q1 25 | — | $-55.8M | ||
| Q4 24 | $102.2M | $62.0M | ||
| Q3 24 | $90.4M | $130.3M | ||
| Q2 24 | $74.0M | $222.6M |
| Q1 26 | — | — | ||
| Q4 25 | 9.7% | 0.4% | ||
| Q3 25 | 5.2% | 9.0% | ||
| Q2 25 | 4.1% | 3.4% | ||
| Q1 25 | — | -4.1% | ||
| Q4 24 | 15.2% | 4.7% | ||
| Q3 24 | 13.4% | 10.2% | ||
| Q2 24 | 10.5% | 17.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.5% | 4.2% | ||
| Q3 25 | 1.3% | 3.9% | ||
| Q2 25 | 1.1% | 4.8% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | 3.7% | 4.8% | ||
| Q3 24 | 1.6% | 4.0% | ||
| Q2 24 | 1.3% | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.49× | 3.19× | ||
| Q3 25 | 0.70× | 6.09× | ||
| Q2 25 | 0.53× | 2.72× | ||
| Q1 25 | — | -0.06× | ||
| Q4 24 | 2.36× | — | ||
| Q3 24 | 1.48× | 3.25× | ||
| Q2 24 | 1.00× | 3.59× |
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% |
SEM
Segment breakdown not available.
