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Side-by-side financial comparison of ESAB Corp (ESAB) and Virtu Financial, Inc. (VIRT). Click either name above to swap in a different company.
Virtu Financial, Inc. is the larger business by last-quarter revenue ($1.1B vs $727.8M, roughly 1.5× ESAB Corp). Virtu Financial, Inc. runs the higher net margin — 31.6% vs 7.5%, a 24.1% gap on every dollar of revenue. On growth, Virtu Financial, Inc. posted the faster year-over-year revenue change (30.7% vs 8.5%). Over the past eight quarters, Virtu Financial, Inc.'s revenue compounded faster (25.7% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Virtu Financial, Inc. is an American high-frequency trading company. The company went public on the Nasdaq in 2015.
ESAB vs VIRT — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $1.1B |
| Net Profit | $54.8M | $346.6M |
| Gross Margin | 37.0% | — |
| Operating Margin | 14.6% | 37.4% |
| Net Margin | 7.5% | 31.6% |
| Revenue YoY | 8.5% | 30.7% |
| Net Profit YoY | 2.1% | 82.8% |
| EPS (diluted) | $0.90 | $1.99 |
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 | — | $1.1B | ||
| Q4 25 | $727.8M | $969.9M | ||
| Q3 25 | $715.6M | $824.8M | ||
| Q2 25 | $678.1M | $999.6M | ||
| Q1 25 | — | $837.9M | ||
| Q4 24 | $670.8M | $834.3M | ||
| Q3 24 | $673.3M | $706.8M | ||
| Q2 24 | $707.1M | $693.0M |
| Q1 26 | — | $346.6M | ||
| Q4 25 | $54.8M | $139.9M | ||
| Q3 25 | $66.9M | $77.6M | ||
| Q2 25 | $67.4M | $151.2M | ||
| Q1 25 | — | $99.7M | ||
| Q4 24 | $53.7M | $94.1M | ||
| Q3 24 | $68.2M | $60.0M | ||
| Q2 24 | $82.9M | $66.6M |
| 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 | — | 37.4% | ||
| Q4 25 | 14.6% | 35.4% | ||
| Q3 25 | 15.2% | 21.8% | ||
| Q2 25 | 16.2% | 34.7% | ||
| Q1 25 | — | 26.7% | ||
| Q4 24 | 16.6% | 24.3% | ||
| Q3 24 | 15.7% | 20.8% | ||
| Q2 24 | 16.9% | 22.4% |
| Q1 26 | — | 31.6% | ||
| Q4 25 | 7.5% | 14.4% | ||
| Q3 25 | 9.3% | 9.4% | ||
| Q2 25 | 9.9% | 15.1% | ||
| Q1 25 | — | 11.9% | ||
| Q4 24 | 8.0% | 11.3% | ||
| Q3 24 | 10.1% | 8.5% | ||
| Q2 24 | 11.7% | 9.6% |
| Q1 26 | — | $1.99 | ||
| Q4 25 | $0.90 | $1.54 | ||
| Q3 25 | $1.09 | $0.86 | ||
| Q2 25 | $1.10 | $1.65 | ||
| Q1 25 | — | $1.08 | ||
| Q4 24 | $0.87 | $1.03 | ||
| Q3 24 | $1.11 | $0.64 | ||
| Q2 24 | $1.35 | $0.71 |
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 | $973.2M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $2.1B | $2.2B |
| Total Assets | $4.9B | $25.1B |
| Debt / EquityLower = less leverage | 0.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $973.2M | ||
| Q4 25 | $218.2M | $1.1B | ||
| Q3 25 | $258.2M | $707.9M | ||
| Q2 25 | $291.3M | $752.1M | ||
| Q1 25 | — | $723.6M | ||
| Q4 24 | $249.4M | $872.5M | ||
| Q3 24 | $253.7M | $701.4M | ||
| Q2 24 | $228.5M | $684.8M |
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $2.0B | ||
| Q3 25 | $1.1B | $2.0B | ||
| Q2 25 | $1.1B | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $1.1B | $1.7B |
| Q1 26 | — | $2.2B | ||
| Q4 25 | $2.1B | $1.6B | ||
| Q3 25 | $2.1B | $1.5B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $1.8B | $1.3B | ||
| Q3 24 | $1.8B | $1.2B | ||
| Q2 24 | $1.7B | $1.2B |
| Q1 26 | — | $25.1B | ||
| Q4 25 | $4.9B | $20.2B | ||
| Q3 25 | $4.4B | $21.3B | ||
| Q2 25 | $4.2B | $19.3B | ||
| Q1 25 | — | $17.5B | ||
| Q4 24 | $4.0B | $15.4B | ||
| Q3 24 | $4.1B | $14.4B | ||
| Q2 24 | $4.0B | $13.9B |
| Q1 26 | — | — | ||
| Q4 25 | 0.63× | 1.29× | ||
| Q3 25 | 0.51× | 1.40× | ||
| Q2 25 | 0.55× | 1.24× | ||
| Q1 25 | — | 1.33× | ||
| Q4 24 | 0.60× | 1.39× | ||
| Q3 24 | 0.59× | 1.41× | ||
| Q2 24 | 0.63× | 1.41× |
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 | $518.4M | ||
| Q3 25 | $46.6M | $-68.7M | ||
| Q2 25 | $35.4M | $62.8M | ||
| Q1 25 | — | $15.0M | ||
| Q4 24 | $126.9M | $599.0M | ||
| Q3 24 | $101.0M | $112.1M | ||
| Q2 24 | $83.0M | $490.8M |
| Q1 26 | — | — | ||
| Q4 25 | $70.3M | $495.6M | ||
| Q3 25 | $37.4M | $-76.7M | ||
| Q2 25 | $28.1M | $57.6M | ||
| Q1 25 | — | $9.2M | ||
| Q4 24 | $102.2M | $586.6M | ||
| Q3 24 | $90.4M | $106.2M | ||
| Q2 24 | $74.0M | $486.9M |
| Q1 26 | — | — | ||
| Q4 25 | 9.7% | 51.1% | ||
| Q3 25 | 5.2% | -9.3% | ||
| Q2 25 | 4.1% | 5.8% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | 15.2% | 70.3% | ||
| Q3 24 | 13.4% | 15.0% | ||
| Q2 24 | 10.5% | 70.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.5% | 2.4% | ||
| Q3 25 | 1.3% | 1.0% | ||
| Q2 25 | 1.1% | 0.5% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | 3.7% | 1.5% | ||
| Q3 24 | 1.6% | 0.8% | ||
| Q2 24 | 1.3% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.49× | 3.71× | ||
| Q3 25 | 0.70× | -0.89× | ||
| Q2 25 | 0.53× | 0.42× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | 2.36× | 6.37× | ||
| Q3 24 | 1.48× | 1.87× | ||
| Q2 24 | 1.00× | 7.37× |
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% |
VIRT
| Trading income, net | $789.1M | 72% |
| Commissions, net and technology services | $186.6M | 17% |
| Other | $119.6M | 11% |
