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Side-by-side financial comparison of ESAB Corp (ESAB) and Skyward Specialty Insurance Group, Inc. (SKWD). Click either name above to swap in a different company.
ESAB Corp is the larger business by last-quarter revenue ($727.8M vs $385.6M, roughly 1.9× Skyward Specialty Insurance Group, Inc.). Skyward Specialty Insurance Group, Inc. runs the higher net margin — 11.2% vs 7.5%, a 3.7% gap on every dollar of revenue. On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (26.7% vs 8.5%). Skyward Specialty Insurance Group, Inc. produced more free cash flow last quarter ($402.6M vs $70.3M). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (20.6% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Skyward Specialty Insurance Group, Inc. is a specialty property and casualty insurance provider offering tailored coverage solutions including commercial auto, general liability, professional indemnity, and specialty property policies. It primarily serves small-to-medium enterprises and niche industry segments across the United States, focusing on underwriting complex, hard-to-place risks for underserved client groups.
ESAB vs SKWD — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $385.6M |
| Net Profit | $54.8M | $43.2M |
| Gross Margin | 37.0% | — |
| Operating Margin | 14.6% | 14.2% |
| Net Margin | 7.5% | 11.2% |
| Revenue YoY | 8.5% | 26.7% |
| Net Profit YoY | 2.1% | 200.1% |
| EPS (diluted) | $0.90 | $1.03 |
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 | $385.6M | ||
| Q3 25 | $715.6M | $382.5M | ||
| Q2 25 | $678.1M | $319.9M | ||
| Q1 25 | — | $328.5M | ||
| Q4 24 | $670.8M | $304.4M | ||
| Q3 24 | $673.3M | $300.9M | ||
| Q2 24 | $707.1M | $279.9M | ||
| Q1 24 | $689.7M | $265.0M |
| Q4 25 | $54.8M | $43.2M | ||
| Q3 25 | $66.9M | $45.9M | ||
| Q2 25 | $67.4M | $38.8M | ||
| Q1 25 | — | $42.1M | ||
| Q4 24 | $53.7M | $14.4M | ||
| Q3 24 | $68.2M | $36.7M | ||
| Q2 24 | $82.9M | $31.0M | ||
| Q1 24 | $60.0M | $36.8M |
| 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% | 14.2% | ||
| Q3 25 | 15.2% | 15.8% | ||
| Q2 25 | 16.2% | 15.6% | ||
| Q1 25 | — | 15.7% | ||
| Q4 24 | 16.6% | 6.1% | ||
| Q3 24 | 15.7% | 15.6% | ||
| Q2 24 | 16.9% | 14.4% | ||
| Q1 24 | 16.0% | 17.7% |
| Q4 25 | 7.5% | 11.2% | ||
| Q3 25 | 9.3% | 12.0% | ||
| Q2 25 | 9.9% | 12.1% | ||
| Q1 25 | — | 12.8% | ||
| Q4 24 | 8.0% | 4.7% | ||
| Q3 24 | 10.1% | 12.2% | ||
| Q2 24 | 11.7% | 11.1% | ||
| Q1 24 | 8.7% | 13.9% |
| Q4 25 | $0.90 | $1.03 | ||
| Q3 25 | $1.09 | $1.10 | ||
| Q2 25 | $1.10 | $0.93 | ||
| Q1 25 | — | $1.01 | ||
| Q4 24 | $0.87 | $0.33 | ||
| Q3 24 | $1.11 | $0.89 | ||
| Q2 24 | $1.35 | $0.75 | ||
| Q1 24 | $0.98 | $0.90 |
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 | $168.5M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $2.1B | $1.0B |
| Total Assets | $4.9B | $4.8B |
| Debt / EquityLower = less leverage | 0.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $168.5M | ||
| Q3 25 | $258.2M | $160.1M | ||
| Q2 25 | $291.3M | $136.6M | ||
| Q1 25 | — | $112.9M | ||
| Q4 24 | $249.4M | $121.6M | ||
| Q3 24 | $253.7M | $105.6M | ||
| Q2 24 | $228.5M | $73.0M | ||
| Q1 24 | $76.5M | $85.1M |
| 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 | $1.0B | ||
| Q3 25 | $2.1B | $961.4M | ||
| Q2 25 | $1.9B | $899.9M | ||
| Q1 25 | — | $850.7M | ||
| Q4 24 | $1.8B | $794.0M | ||
| Q3 24 | $1.8B | $797.5M | ||
| Q2 24 | $1.7B | $723.6M | ||
| Q1 24 | $1.6B | $692.3M |
| Q4 25 | $4.9B | $4.8B | ||
| Q3 25 | $4.4B | $4.6B | ||
| Q2 25 | $4.2B | $4.3B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | $4.0B | $3.7B | ||
| Q3 24 | $4.1B | $3.6B | ||
| Q2 24 | $4.0B | $3.4B | ||
| Q1 24 | $3.8B | $3.2B |
| 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 | $408.1M |
| Free Cash FlowOCF − Capex | $70.3M | $402.6M |
| FCF MarginFCF / Revenue | 9.7% | 104.4% |
| Capex IntensityCapex / Revenue | 1.5% | 1.4% |
| Cash ConversionOCF / Net Profit | 1.49× | 9.44× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $755.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $408.1M | ||
| Q3 25 | $46.6M | $171.4M | ||
| Q2 25 | $35.4M | $88.2M | ||
| Q1 25 | — | $96.8M | ||
| Q4 24 | $126.9M | $305.1M | ||
| Q3 24 | $101.0M | $168.0M | ||
| Q2 24 | $83.0M | $21.0M | ||
| Q1 24 | $44.5M | $94.3M |
| Q4 25 | $70.3M | $402.6M | ||
| Q3 25 | $37.4M | $168.9M | ||
| Q2 25 | $28.1M | $87.1M | ||
| Q1 25 | — | $96.6M | ||
| Q4 24 | $102.2M | $300.9M | ||
| Q3 24 | $90.4M | $167.6M | ||
| Q2 24 | $74.0M | $18.4M | ||
| Q1 24 | $37.1M | $94.0M |
| Q4 25 | 9.7% | 104.4% | ||
| Q3 25 | 5.2% | 44.2% | ||
| Q2 25 | 4.1% | 27.2% | ||
| Q1 25 | — | 29.4% | ||
| Q4 24 | 15.2% | 98.8% | ||
| Q3 24 | 13.4% | 55.7% | ||
| Q2 24 | 10.5% | 6.6% | ||
| Q1 24 | 5.4% | 35.5% |
| Q4 25 | 1.5% | 1.4% | ||
| Q3 25 | 1.3% | 0.6% | ||
| Q2 25 | 1.1% | 0.3% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | 3.7% | 1.4% | ||
| Q3 24 | 1.6% | 0.1% | ||
| Q2 24 | 1.3% | 0.9% | ||
| Q1 24 | 1.1% | 0.1% |
| Q4 25 | 1.49× | 9.44× | ||
| Q3 25 | 0.70× | 3.73× | ||
| Q2 25 | 0.53× | 2.27× | ||
| Q1 25 | — | 2.30× | ||
| Q4 24 | 2.36× | 21.18× | ||
| Q3 24 | 1.48× | 4.58× | ||
| Q2 24 | 1.00× | 0.68× | ||
| Q1 24 | 0.74× | 2.56× |
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% |
SKWD
Segment breakdown not available.
