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Side-by-side financial comparison of ESAB Corp (ESAB) and Under Armour, Inc. (UAA). Click either name above to swap in a different company.
Under Armour, Inc. is the larger business by last-quarter revenue ($1.3B vs $745.6M, roughly 1.8× ESAB Corp). ESAB Corp runs the higher net margin — 6.6% vs -32.4%, a 39.1% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (9.9% vs -5.2%). Over the past eight quarters, ESAB Corp's revenue compounded faster (4.0% CAGR vs -0.2%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Under Armour, Inc. is an American sportswear company that manufactures footwear and apparel headquartered in Baltimore, Maryland, United States.
ESAB vs UAA — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $745.6M | $1.3B |
| Net Profit | $49.2M | $-430.8M |
| Gross Margin | 36.9% | 44.4% |
| Operating Margin | 12.1% | -11.3% |
| Net Margin | 6.6% | -32.4% |
| Revenue YoY | 9.9% | -5.2% |
| Net Profit YoY | -29.3% | -35013.0% |
| EPS (diluted) | $0.78 | $-1.01 |
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 | $745.6M | — | ||
| Q4 25 | $727.8M | $1.3B | ||
| Q3 25 | $715.6M | $1.3B | ||
| Q2 25 | $678.1M | $1.1B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $670.8M | $1.4B | ||
| Q3 24 | $673.3M | $1.4B | ||
| Q2 24 | $707.1M | $1.2B |
| Q1 26 | $49.2M | — | ||
| Q4 25 | $54.8M | $-430.8M | ||
| Q3 25 | $66.9M | $-18.8M | ||
| Q2 25 | $67.4M | $-2.6M | ||
| Q1 25 | — | $-67.5M | ||
| Q4 24 | $53.7M | $1.2M | ||
| Q3 24 | $68.2M | $170.4M | ||
| Q2 24 | $82.9M | $-305.4M |
| Q1 26 | 36.9% | — | ||
| Q4 25 | 37.0% | 44.4% | ||
| Q3 25 | 37.2% | 47.3% | ||
| Q2 25 | 37.6% | 48.2% | ||
| Q1 25 | — | 46.7% | ||
| Q4 24 | 38.5% | 47.5% | ||
| Q3 24 | 37.7% | 49.8% | ||
| Q2 24 | 38.2% | 47.5% |
| Q1 26 | 12.1% | — | ||
| Q4 25 | 14.6% | -11.3% | ||
| Q3 25 | 15.2% | 1.3% | ||
| Q2 25 | 16.2% | 0.3% | ||
| Q1 25 | — | -6.1% | ||
| Q4 24 | 16.6% | 1.0% | ||
| Q3 24 | 15.7% | 12.4% | ||
| Q2 24 | 16.9% | -25.3% |
| Q1 26 | 6.6% | — | ||
| Q4 25 | 7.5% | -32.4% | ||
| Q3 25 | 9.3% | -1.4% | ||
| Q2 25 | 9.9% | -0.2% | ||
| Q1 25 | — | -5.7% | ||
| Q4 24 | 8.0% | 0.1% | ||
| Q3 24 | 10.1% | 12.2% | ||
| Q2 24 | 11.7% | -25.8% |
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.90 | $-1.01 | ||
| Q3 25 | $1.09 | $-0.04 | ||
| Q2 25 | $1.10 | $-0.01 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | $0.87 | $0.00 | ||
| Q3 24 | $1.11 | $0.39 | ||
| Q2 24 | $1.35 | $-0.70 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.0B | $464.6M |
| Total DebtLower is stronger | $2.0B | $989.7M |
| Stockholders' EquityBook value | $2.2B | $1.4B |
| Total Assets | $5.6B | $4.6B |
| Debt / EquityLower = less leverage | 0.91× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.0B | — | ||
| Q4 25 | $218.2M | $464.6M | ||
| Q3 25 | $258.2M | $396.0M | ||
| Q2 25 | $291.3M | $911.0M | ||
| Q1 25 | — | $501.4M | ||
| Q4 24 | $249.4M | $726.9M | ||
| Q3 24 | $253.7M | $530.7M | ||
| Q2 24 | $228.5M | $884.6M |
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.3B | $989.7M | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.1B | $989.2M | ||
| Q1 25 | — | $595.1M | ||
| Q4 24 | $1.1B | $595.2M | ||
| Q3 24 | $1.1B | $594.6M | ||
| Q2 24 | $1.1B | $595.4M |
| Q1 26 | $2.2B | — | ||
| Q4 25 | $2.1B | $1.4B | ||
| Q3 25 | $2.1B | $1.9B | ||
| Q2 25 | $1.9B | $1.9B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | $1.8B | $2.0B | ||
| Q3 24 | $1.8B | $2.0B | ||
| Q2 24 | $1.7B | $1.8B |
| Q1 26 | $5.6B | — | ||
| Q4 25 | $4.9B | $4.6B | ||
| Q3 25 | $4.4B | $4.9B | ||
| Q2 25 | $4.2B | $4.9B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | $4.0B | $4.6B | ||
| Q3 24 | $4.1B | $4.5B | ||
| Q2 24 | $4.0B | $4.9B |
| Q1 26 | 0.91× | — | ||
| Q4 25 | 0.63× | 0.69× | ||
| Q3 25 | 0.51× | 0.64× | ||
| Q2 25 | 0.55× | 0.53× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | 0.60× | 0.30× | ||
| Q3 24 | 0.59× | 0.30× | ||
| Q2 24 | 0.63× | 0.33× |
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 | $46.9M | $278.1M |
| Free Cash FlowOCF − Capex | — | $261.9M |
| FCF MarginFCF / Revenue | — | 19.7% |
| Capex IntensityCapex / Revenue | — | 1.2% |
| Cash ConversionOCF / Net Profit | 0.95× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-45.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $46.9M | — | ||
| Q4 25 | $81.5M | $278.1M | ||
| Q3 25 | $46.6M | $-69.8M | ||
| Q2 25 | $35.4M | $48.9M | ||
| Q1 25 | — | $-202.2M | ||
| Q4 24 | $126.9M | $311.3M | ||
| Q3 24 | $101.0M | $-321.4M | ||
| Q2 24 | $83.0M | $153.0M |
| Q1 26 | — | — | ||
| Q4 25 | $70.3M | $261.9M | ||
| Q3 25 | $37.4M | $-90.3M | ||
| Q2 25 | $28.1M | $13.5M | ||
| Q1 25 | — | $-231.0M | ||
| Q4 24 | $102.2M | $262.9M | ||
| Q3 24 | $90.4M | $-367.2M | ||
| Q2 24 | $74.0M | $107.3M |
| Q1 26 | — | — | ||
| Q4 25 | 9.7% | 19.7% | ||
| Q3 25 | 5.2% | -6.8% | ||
| Q2 25 | 4.1% | 1.2% | ||
| Q1 25 | — | -19.6% | ||
| Q4 24 | 15.2% | 18.8% | ||
| Q3 24 | 13.4% | -26.2% | ||
| Q2 24 | 10.5% | 9.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.5% | 1.2% | ||
| Q3 25 | 1.3% | 1.5% | ||
| Q2 25 | 1.1% | 3.1% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | 3.7% | 3.5% | ||
| Q3 24 | 1.6% | 3.3% | ||
| Q2 24 | 1.3% | 3.9% |
| Q1 26 | 0.95× | — | ||
| Q4 25 | 1.49× | — | ||
| Q3 25 | 0.70× | — | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.36× | 252.26× | ||
| Q3 24 | 1.48× | -1.89× | ||
| Q2 24 | 1.00× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESAB
Segment breakdown not available.
UAA
| Apparel | $934.0M | 70% |
| Footwear | $265.1M | 20% |
| Accessories | $107.7M | 8% |
| License | $27.2M | 2% |
