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Side-by-side financial comparison of ESAB Corp (ESAB) and NCR Voyix Corp (VYX). Click either name above to swap in a different company.
ESAB Corp is the larger business by last-quarter revenue ($727.8M vs $720.0M, roughly 1.0× NCR Voyix Corp). NCR Voyix Corp runs the higher net margin — 13.6% vs 7.5%, a 6.1% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs 6.2%). Over the past eight quarters, ESAB Corp's revenue compounded faster (2.8% CAGR vs 0.7%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It manufactured self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners.
ESAB vs VYX — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $720.0M |
| Net Profit | $54.8M | $98.0M |
| Gross Margin | 37.0% | — |
| Operating Margin | 14.6% | 2.4% |
| Net Margin | 7.5% | 13.6% |
| Revenue YoY | 8.5% | 6.2% |
| Net Profit YoY | 2.1% | 990.9% |
| EPS (diluted) | $0.90 | $0.64 |
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 | $720.0M | ||
| Q3 25 | $715.6M | $684.0M | ||
| Q2 25 | $678.1M | $666.0M | ||
| Q1 25 | — | $617.0M | ||
| Q4 24 | $670.8M | $678.0M | ||
| Q3 24 | $673.3M | $708.0M | ||
| Q2 24 | $707.1M | $722.0M | ||
| Q1 24 | $689.7M | $710.0M |
| Q4 25 | $54.8M | $98.0M | ||
| Q3 25 | $66.9M | $-19.0M | ||
| Q2 25 | $67.4M | $0 | ||
| Q1 25 | — | $-17.0M | ||
| Q4 24 | $53.7M | $-11.0M | ||
| Q3 24 | $68.2M | $1.1B | ||
| Q2 24 | $82.9M | $-73.0M | ||
| Q1 24 | $60.0M | $-40.0M |
| Q4 25 | 37.0% | — | ||
| Q3 25 | 37.2% | — | ||
| Q2 25 | 37.6% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 38.5% | — | ||
| Q3 24 | 37.7% | 23.4% | ||
| Q2 24 | 38.2% | 17.5% | ||
| Q1 24 | 37.0% | 19.4% |
| Q4 25 | 14.6% | 2.4% | ||
| Q3 25 | 15.2% | 2.2% | ||
| Q2 25 | 16.2% | 2.1% | ||
| Q1 25 | — | -3.2% | ||
| Q4 24 | 16.6% | -0.1% | ||
| Q3 24 | 15.7% | 2.3% | ||
| Q2 24 | 16.9% | -4.7% | ||
| Q1 24 | 16.0% | -2.7% |
| Q4 25 | 7.5% | 13.6% | ||
| Q3 25 | 9.3% | -2.8% | ||
| Q2 25 | 9.9% | — | ||
| Q1 25 | — | -2.8% | ||
| Q4 24 | 8.0% | -1.6% | ||
| Q3 24 | 10.1% | 152.8% | ||
| Q2 24 | 11.7% | -10.1% | ||
| Q1 24 | 8.7% | -5.6% |
| Q4 25 | $0.90 | $0.64 | ||
| Q3 25 | $1.09 | $-0.16 | ||
| Q2 25 | $1.10 | $-0.03 | ||
| Q1 25 | — | $-0.15 | ||
| Q4 24 | $0.87 | $-0.05 | ||
| Q3 24 | $1.11 | $7.41 | ||
| Q2 24 | $1.35 | $-0.53 | ||
| Q1 24 | $0.98 | $-0.31 |
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 | $231.0M |
| Total DebtLower is stronger | $1.3B | $1.1B |
| Stockholders' EquityBook value | $2.1B | $948.0M |
| Total Assets | $4.9B | $3.9B |
| Debt / EquityLower = less leverage | 0.63× | 1.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $231.0M | ||
| Q3 25 | $258.2M | $282.0M | ||
| Q2 25 | $291.3M | $276.0M | ||
| Q1 25 | — | $573.0M | ||
| Q4 24 | $249.4M | $722.0M | ||
| Q3 24 | $253.7M | $792.0M | ||
| Q2 24 | $228.5M | $203.0M | ||
| Q1 24 | $76.5M | $241.0M |
| Q4 25 | $1.3B | $1.1B | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $992.8M | — |
| Q4 25 | $2.1B | $948.0M | ||
| Q3 25 | $2.1B | $848.0M | ||
| Q2 25 | $1.9B | $867.0M | ||
| Q1 25 | — | $857.0M | ||
| Q4 24 | $1.8B | $933.0M | ||
| Q3 24 | $1.8B | $1.0B | ||
| Q2 24 | $1.7B | $-85.0M | ||
| Q1 24 | $1.6B | $-34.0M |
| Q4 25 | $4.9B | $3.9B | ||
| Q3 25 | $4.4B | $4.0B | ||
| Q2 25 | $4.2B | $4.0B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | $4.0B | $4.5B | ||
| Q3 24 | $4.1B | $4.7B | ||
| Q2 24 | $4.0B | $4.8B | ||
| Q1 24 | $3.8B | $5.0B |
| Q4 25 | 0.63× | 1.17× | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 0.55× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.60× | 1.18× | ||
| 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 | $60.0M |
| Free Cash FlowOCF − Capex | $70.3M | — |
| FCF MarginFCF / Revenue | 9.7% | — |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | 1.49× | 0.61× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $60.0M | ||
| Q3 25 | $46.6M | $14.0M | ||
| Q2 25 | $35.4M | $-242.0M | ||
| Q1 25 | — | $-42.0M | ||
| Q4 24 | $126.9M | $-170.0M | ||
| Q3 24 | $101.0M | $11.0M | ||
| Q2 24 | $83.0M | $62.0M | ||
| Q1 24 | $44.5M | $-35.0M |
| Q4 25 | $70.3M | — | ||
| Q3 25 | $37.4M | $10.0M | ||
| Q2 25 | $28.1M | $-249.0M | ||
| Q1 25 | — | $-50.0M | ||
| Q4 24 | $102.2M | $-177.0M | ||
| Q3 24 | $90.4M | $9.0M | ||
| Q2 24 | $74.0M | $49.0M | ||
| Q1 24 | $37.1M | $-43.0M |
| Q4 25 | 9.7% | — | ||
| Q3 25 | 5.2% | 1.5% | ||
| Q2 25 | 4.1% | -37.4% | ||
| Q1 25 | — | -8.1% | ||
| Q4 24 | 15.2% | -26.1% | ||
| Q3 24 | 13.4% | 1.3% | ||
| Q2 24 | 10.5% | 6.8% | ||
| Q1 24 | 5.4% | -6.1% |
| Q4 25 | 1.5% | — | ||
| Q3 25 | 1.3% | 0.6% | ||
| Q2 25 | 1.1% | 1.1% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | 3.7% | 1.0% | ||
| Q3 24 | 1.6% | 0.3% | ||
| Q2 24 | 1.3% | 1.8% | ||
| Q1 24 | 1.1% | 1.1% |
| Q4 25 | 1.49× | 0.61× | ||
| Q3 25 | 0.70× | — | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.36× | — | ||
| Q3 24 | 1.48× | 0.01× | ||
| 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% |
VYX
| Services | $484.0M | 67% |
| Products | $236.0M | 33% |
