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Side-by-side financial comparison of ESAB Corp (ESAB) and WERNER ENTERPRISES INC (WERN). Click either name above to swap in a different company.
WERNER ENTERPRISES INC is the larger business by last-quarter revenue ($808.6M vs $727.8M, roughly 1.1× ESAB Corp). ESAB Corp runs the higher net margin — 7.5% vs -0.5%, a 8.1% gap on every dollar of revenue. On growth, WERNER ENTERPRISES INC posted the faster year-over-year revenue change (13.6% vs 8.5%). Over the past eight quarters, WERNER ENTERPRISES INC's revenue compounded faster (4.3% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Werner Enterprises, Inc. is an American transportation and logistics company, serving the United States, Mexico and Canada. Werner Enterprises stated that it had 2023 revenues of $3.28 billion and over 14,000 employees and contractors.
ESAB vs WERN — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $808.6M |
| Net Profit | $54.8M | $-4.3M |
| Gross Margin | 37.0% | — |
| Operating Margin | 14.6% | — |
| Net Margin | 7.5% | -0.5% |
| Revenue YoY | 8.5% | 13.6% |
| Net Profit YoY | 2.1% | 57.8% |
| EPS (diluted) | $0.90 | $-0.07 |
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 | — | $808.6M | ||
| Q4 25 | $727.8M | $719.9M | ||
| Q3 25 | $715.6M | $752.2M | ||
| Q2 25 | $678.1M | $734.1M | ||
| Q1 25 | — | $693.4M | ||
| Q4 24 | $670.8M | $736.6M | ||
| Q3 24 | $673.3M | $726.3M | ||
| Q2 24 | $707.1M | $742.7M |
| Q1 26 | — | $-4.3M | ||
| Q4 25 | $54.8M | $-27.8M | ||
| Q3 25 | $66.9M | $-20.6M | ||
| Q2 25 | $67.4M | $44.1M | ||
| Q1 25 | — | $-10.1M | ||
| Q4 24 | $53.7M | $11.9M | ||
| Q3 24 | $68.2M | $6.6M | ||
| Q2 24 | $82.9M | $9.5M |
| 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 | — | — | ||
| Q4 25 | 14.6% | -5.0% | ||
| Q3 25 | 15.2% | -1.7% | ||
| Q2 25 | 16.2% | 9.0% | ||
| Q1 25 | — | -0.8% | ||
| Q4 24 | 16.6% | 1.8% | ||
| Q3 24 | 15.7% | 2.4% | ||
| Q2 24 | 16.9% | 2.6% |
| Q1 26 | — | -0.5% | ||
| Q4 25 | 7.5% | -3.9% | ||
| Q3 25 | 9.3% | -2.7% | ||
| Q2 25 | 9.9% | 6.0% | ||
| Q1 25 | — | -1.5% | ||
| Q4 24 | 8.0% | 1.6% | ||
| Q3 24 | 10.1% | 0.9% | ||
| Q2 24 | 11.7% | 1.3% |
| Q1 26 | — | $-0.07 | ||
| Q4 25 | $0.90 | $-0.46 | ||
| Q3 25 | $1.09 | $-0.34 | ||
| Q2 25 | $1.10 | $0.72 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | $0.87 | $0.19 | ||
| Q3 24 | $1.11 | $0.11 | ||
| Q2 24 | $1.35 | $0.15 |
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 | $61.5M |
| Total DebtLower is stronger | $1.3B | $878.2M |
| Stockholders' EquityBook value | $2.1B | $1.4B |
| Total Assets | $4.9B | $3.3B |
| Debt / EquityLower = less leverage | 0.63× | 0.65× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $61.5M | ||
| Q4 25 | $218.2M | $59.9M | ||
| Q3 25 | $258.2M | $51.0M | ||
| Q2 25 | $291.3M | $51.4M | ||
| Q1 25 | — | $52.0M | ||
| Q4 24 | $249.4M | $40.8M | ||
| Q3 24 | $253.7M | $54.7M | ||
| Q2 24 | $228.5M | $70.4M |
| Q1 26 | — | $878.2M | ||
| Q4 25 | $1.3B | $752.0M | ||
| Q3 25 | $1.1B | $725.0M | ||
| Q2 25 | $1.1B | $725.0M | ||
| Q1 25 | — | $640.0M | ||
| Q4 24 | $1.1B | $650.0M | ||
| Q3 24 | $1.1B | $690.0M | ||
| Q2 24 | $1.1B | $670.0M |
| Q1 26 | — | $1.4B | ||
| Q4 25 | $2.1B | $1.4B | ||
| Q3 25 | $2.1B | $1.4B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | $1.8B | $1.5B | ||
| Q3 24 | $1.8B | $1.4B | ||
| Q2 24 | $1.7B | $1.5B |
| Q1 26 | — | $3.3B | ||
| Q4 25 | $4.9B | $2.9B | ||
| Q3 25 | $4.4B | $3.0B | ||
| Q2 25 | $4.2B | $2.9B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | $4.0B | $3.1B | ||
| Q3 24 | $4.1B | $3.1B | ||
| Q2 24 | $4.0B | $3.1B |
| Q1 26 | — | 0.65× | ||
| Q4 25 | 0.63× | 0.55× | ||
| Q3 25 | 0.51× | 0.52× | ||
| Q2 25 | 0.55× | 0.51× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | 0.60× | 0.45× | ||
| Q3 24 | 0.59× | 0.48× | ||
| Q2 24 | 0.63× | 0.46× |
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% | 0.2% |
| 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 | $62.3M | ||
| Q3 25 | $46.6M | $44.1M | ||
| Q2 25 | $35.4M | $46.0M | ||
| Q1 25 | — | $29.4M | ||
| Q4 24 | $126.9M | $71.0M | ||
| Q3 24 | $101.0M | $61.0M | ||
| Q2 24 | $83.0M | $109.1M |
| Q1 26 | — | — | ||
| Q4 25 | $70.3M | $-23.5M | ||
| Q3 25 | $37.4M | $-8.6M | ||
| Q2 25 | $28.1M | $-42.3M | ||
| Q1 25 | — | $5.9M | ||
| Q4 24 | $102.2M | $-9.8M | ||
| Q3 24 | $90.4M | $-73.4M | ||
| Q2 24 | $74.0M | $-31.2M |
| Q1 26 | — | — | ||
| Q4 25 | 9.7% | -3.3% | ||
| Q3 25 | 5.2% | -1.1% | ||
| Q2 25 | 4.1% | -5.8% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | 15.2% | -1.3% | ||
| Q3 24 | 13.4% | -10.1% | ||
| Q2 24 | 10.5% | -4.2% |
| Q1 26 | — | 0.2% | ||
| Q4 25 | 1.5% | 11.9% | ||
| Q3 25 | 1.3% | 7.0% | ||
| Q2 25 | 1.1% | 12.0% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | 3.7% | 11.0% | ||
| Q3 24 | 1.6% | 18.5% | ||
| Q2 24 | 1.3% | 18.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.49× | — | ||
| Q3 25 | 0.70× | — | ||
| Q2 25 | 0.53× | 1.04× | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.36× | 5.97× | ||
| Q3 24 | 1.48× | 9.30× | ||
| Q2 24 | 1.00× | 11.52× |
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% |
WERN
Segment breakdown not available.
