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Side-by-side financial comparison of ESAB Corp (ESAB) and Serve Robotics Inc. (SERV). Click either name above to swap in a different company.
ESAB Corp is the larger business by last-quarter revenue ($727.8M vs $881.5K, roughly 825.7× Serve Robotics Inc.). ESAB Corp runs the higher net margin — 7.5% vs -3888.1%, a 3895.6% gap on every dollar of revenue. On growth, Serve Robotics Inc. posted the faster year-over-year revenue change (400.1% vs 8.5%). ESAB Corp produced more free cash flow last quarter ($70.3M vs $-46.1M). Over the past eight quarters, ESAB Corp's revenue compounded faster (2.8% CAGR vs -3.5%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Ecovacs Robotics is a Chinese technology company. It is best known for developing in-home robotic appliances. The company was founded in 1998 by Qian Dongqi and is headquartered in Suzhou, China. According to Global Asia, Ecovacs Robotics had more than 60% of the Chinese market for robots by 2013. In 2023, Nikkei Asia had reported that the market capitalisation of Ecovacs Robotics has grown to near $6.38 billion, which is "roughly 5 times" that of the market capitalisation of rivalling US bas...
ESAB vs SERV — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $881.5K |
| Net Profit | $54.8M | $-34.3M |
| Gross Margin | 37.0% | -757.3% |
| Operating Margin | 14.6% | -4572.1% |
| Net Margin | 7.5% | -3888.1% |
| Revenue YoY | 8.5% | 400.1% |
| Net Profit YoY | 2.1% | -161.3% |
| EPS (diluted) | $0.90 | $-0.50 |
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 | $881.5K | ||
| Q3 25 | $715.6M | $687.0K | ||
| Q2 25 | $678.1M | $642.0K | ||
| Q1 25 | — | $440.5K | ||
| Q4 24 | $670.8M | $176.3K | ||
| Q3 24 | $673.3M | $222.0K | ||
| Q2 24 | $707.1M | $468.0K | ||
| Q1 24 | $689.7M | $946.7K |
| Q4 25 | $54.8M | $-34.3M | ||
| Q3 25 | $66.9M | $-33.0M | ||
| Q2 25 | $67.4M | $-20.9M | ||
| Q1 25 | — | $-13.2M | ||
| Q4 24 | $53.7M | $-13.1M | ||
| Q3 24 | $68.2M | $-8.0M | ||
| Q2 24 | $82.9M | $-9.0M | ||
| Q1 24 | $60.0M | $-9.0M |
| Q4 25 | 37.0% | -757.3% | ||
| Q3 25 | 37.2% | -637.4% | ||
| Q2 25 | 37.6% | -445.3% | ||
| Q1 25 | — | -333.4% | ||
| Q4 24 | 38.5% | -371.7% | ||
| Q3 24 | 37.7% | -70.3% | ||
| Q2 24 | 38.2% | 30.3% | ||
| Q1 24 | 37.0% | 62.8% |
| Q4 25 | 14.6% | -4572.1% | ||
| Q3 25 | 15.2% | -5067.8% | ||
| Q2 25 | 16.2% | -3527.1% | ||
| Q1 25 | — | -3406.6% | ||
| Q4 24 | 16.6% | -7701.3% | ||
| Q3 24 | 15.7% | -3804.1% | ||
| Q2 24 | 16.9% | -1828.2% | ||
| Q1 24 | 16.0% | -814.6% |
| Q4 25 | 7.5% | -3888.1% | ||
| Q3 25 | 9.3% | -4806.4% | ||
| Q2 25 | 9.9% | -3247.7% | ||
| Q1 25 | — | -3000.5% | ||
| Q4 24 | 8.0% | -7441.8% | ||
| Q3 24 | 10.1% | -3601.8% | ||
| Q2 24 | 11.7% | -1931.2% | ||
| Q1 24 | 8.7% | -954.7% |
| Q4 25 | $0.90 | $-0.50 | ||
| Q3 25 | $1.09 | $-0.54 | ||
| Q2 25 | $1.10 | $-0.36 | ||
| Q1 25 | — | $-0.23 | ||
| Q4 24 | $0.87 | $-0.23 | ||
| Q3 24 | $1.11 | $-0.20 | ||
| Q2 24 | $1.35 | $-0.27 | ||
| Q1 24 | $0.98 | $-0.37 |
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 | $106.2M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $2.1B | $350.7M |
| Total Assets | $4.9B | $367.8M |
| Debt / EquityLower = less leverage | 0.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $106.2M | ||
| Q3 25 | $258.2M | $116.8M | ||
| Q2 25 | $291.3M | $116.7M | ||
| Q1 25 | — | $197.8M | ||
| Q4 24 | $249.4M | $123.3M | ||
| Q3 24 | $253.7M | $50.9M | ||
| Q2 24 | $228.5M | $28.8M | ||
| Q1 24 | $76.5M | — |
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $992.8M | — |
| Q4 25 | $2.1B | $350.7M | ||
| Q3 25 | $2.1B | $283.9M | ||
| Q2 25 | $1.9B | $207.2M | ||
| Q1 25 | — | $210.2M | ||
| Q4 24 | $1.8B | $131.7M | ||
| Q3 24 | $1.8B | $56.2M | ||
| Q2 24 | $1.7B | $28.5M | ||
| Q1 24 | $1.6B | $-8.8M |
| Q4 25 | $4.9B | $367.8M | ||
| Q3 25 | $4.4B | $299.1M | ||
| Q2 25 | $4.2B | $214.3M | ||
| Q1 25 | — | $216.6M | ||
| Q4 24 | $4.0B | $139.6M | ||
| Q3 24 | $4.1B | $61.5M | ||
| Q2 24 | $4.0B | $32.8M | ||
| Q1 24 | $3.8B | $4.2M |
| Q4 25 | 0.63× | — | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 0.55× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.60× | — | ||
| Q3 24 | 0.59× | — | ||
| Q2 24 | 0.63× | — | ||
| Q1 24 | 0.61× | — |
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 | $-29.6M |
| Free Cash FlowOCF − Capex | $70.3M | $-46.1M |
| FCF MarginFCF / Revenue | 9.7% | -5234.4% |
| Capex IntensityCapex / Revenue | 1.5% | 1872.1% |
| Cash ConversionOCF / Net Profit | 1.49× | — |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $-117.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $-29.6M | ||
| Q3 25 | $46.6M | $-25.2M | ||
| Q2 25 | $35.4M | $-16.0M | ||
| Q1 25 | — | $-9.5M | ||
| Q4 24 | $126.9M | $-6.3M | ||
| Q3 24 | $101.0M | $-5.5M | ||
| Q2 24 | $83.0M | $-5.7M | ||
| Q1 24 | $44.5M | $-4.1M |
| Q4 25 | $70.3M | $-46.1M | ||
| Q3 25 | $37.4M | $-36.5M | ||
| Q2 25 | $28.1M | $-22.0M | ||
| Q1 25 | — | $-12.9M | ||
| Q4 24 | $102.2M | $-11.1M | ||
| Q3 24 | $90.4M | $-10.1M | ||
| Q2 24 | $74.0M | $-6.5M | ||
| Q1 24 | $37.1M | $-4.1M |
| Q4 25 | 9.7% | -5234.4% | ||
| Q3 25 | 5.2% | -5314.1% | ||
| Q2 25 | 4.1% | -3426.8% | ||
| Q1 25 | — | -2934.1% | ||
| Q4 24 | 15.2% | -6307.8% | ||
| Q3 24 | 13.4% | -4529.7% | ||
| Q2 24 | 10.5% | -1396.6% | ||
| Q1 24 | 5.4% | -431.1% |
| Q4 25 | 1.5% | 1872.1% | ||
| Q3 25 | 1.3% | 1649.6% | ||
| Q2 25 | 1.1% | 940.4% | ||
| Q1 25 | — | 785.7% | ||
| Q4 24 | 3.7% | 2755.1% | ||
| Q3 24 | 1.6% | 2070.7% | ||
| Q2 24 | 1.3% | 169.8% | ||
| Q1 24 | 1.1% | 0.4% |
| 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× | — | ||
| Q1 24 | 0.74× | — |
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% |
SERV
Segment breakdown not available.
