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Side-by-side financial comparison of ESAB Corp (ESAB) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
ESAB Corp is the larger business by last-quarter revenue ($727.8M vs $625.1M, roughly 1.2× WATTS WATER TECHNOLOGIES INC). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs 7.5%, a 5.9% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs 8.5%). WATTS WATER TECHNOLOGIES INC produced more free cash flow last quarter ($140.3M vs $70.3M). Over the past eight quarters, WATTS WATER TECHNOLOGIES INC's revenue compounded faster (4.6% CAGR vs 2.8%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
ESAB vs WTS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $625.1M |
| Net Profit | $54.8M | $83.7M |
| Gross Margin | 37.0% | 49.5% |
| Operating Margin | 14.6% | 18.2% |
| Net Margin | 7.5% | 13.4% |
| Revenue YoY | 8.5% | 15.7% |
| Net Profit YoY | 2.1% | 24.0% |
| EPS (diluted) | $0.90 | $2.50 |
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 | $625.1M | ||
| Q3 25 | $715.6M | $611.7M | ||
| Q2 25 | $678.1M | $643.7M | ||
| Q1 25 | — | $558.0M | ||
| Q4 24 | $670.8M | $540.4M | ||
| Q3 24 | $673.3M | $543.6M | ||
| Q2 24 | $707.1M | $597.3M | ||
| Q1 24 | $689.7M | $570.9M |
| Q4 25 | $54.8M | $83.7M | ||
| Q3 25 | $66.9M | $82.2M | ||
| Q2 25 | $67.4M | $100.9M | ||
| Q1 25 | — | $74.0M | ||
| Q4 24 | $53.7M | $67.5M | ||
| Q3 24 | $68.2M | $69.1M | ||
| Q2 24 | $82.9M | $82.0M | ||
| Q1 24 | $60.0M | $72.6M |
| Q4 25 | 37.0% | 49.5% | ||
| Q3 25 | 37.2% | 48.8% | ||
| Q2 25 | 37.6% | 50.6% | ||
| Q1 25 | — | 48.8% | ||
| Q4 24 | 38.5% | 46.7% | ||
| Q3 24 | 37.7% | 47.3% | ||
| Q2 24 | 38.2% | 47.7% | ||
| Q1 24 | 37.0% | 46.9% |
| Q4 25 | 14.6% | 18.2% | ||
| Q3 25 | 15.2% | 18.2% | ||
| Q2 25 | 16.2% | 21.0% | ||
| Q1 25 | — | 15.7% | ||
| Q4 24 | 16.6% | 16.5% | ||
| Q3 24 | 15.7% | 17.1% | ||
| Q2 24 | 16.9% | 18.7% | ||
| Q1 24 | 16.0% | 16.9% |
| Q4 25 | 7.5% | 13.4% | ||
| Q3 25 | 9.3% | 13.4% | ||
| Q2 25 | 9.9% | 15.7% | ||
| Q1 25 | — | 13.3% | ||
| Q4 24 | 8.0% | 12.5% | ||
| Q3 24 | 10.1% | 12.7% | ||
| Q2 24 | 11.7% | 13.7% | ||
| Q1 24 | 8.7% | 12.7% |
| Q4 25 | $0.90 | $2.50 | ||
| Q3 25 | $1.09 | $2.45 | ||
| Q2 25 | $1.10 | $3.01 | ||
| Q1 25 | — | $2.21 | ||
| Q4 24 | $0.87 | $2.02 | ||
| Q3 24 | $1.11 | $2.06 | ||
| Q2 24 | $1.35 | $2.44 | ||
| Q1 24 | $0.98 | $2.17 |
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 | $405.5M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $2.1B | $2.0B |
| Total Assets | $4.9B | $2.9B |
| Debt / EquityLower = less leverage | 0.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $405.5M | ||
| Q3 25 | $258.2M | $457.7M | ||
| Q2 25 | $291.3M | $369.3M | ||
| Q1 25 | — | $336.8M | ||
| Q4 24 | $249.4M | $386.9M | ||
| Q3 24 | $253.7M | $303.9M | ||
| Q2 24 | $228.5M | $279.4M | ||
| Q1 24 | $76.5M | $237.1M |
| 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 | $2.0B | ||
| Q3 25 | $2.1B | $2.0B | ||
| Q2 25 | $1.9B | $1.9B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $1.8B | $1.7B | ||
| Q2 24 | $1.7B | $1.6B | ||
| Q1 24 | $1.6B | $1.6B |
| Q4 25 | $4.9B | $2.9B | ||
| Q3 25 | $4.4B | $2.7B | ||
| Q2 25 | $4.2B | $2.6B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | $4.0B | $2.4B | ||
| Q3 24 | $4.1B | $2.4B | ||
| Q2 24 | $4.0B | $2.4B | ||
| Q1 24 | $3.8B | $2.3B |
| 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 | $154.7M |
| Free Cash FlowOCF − Capex | $70.3M | $140.3M |
| FCF MarginFCF / Revenue | 9.7% | 22.4% |
| Capex IntensityCapex / Revenue | 1.5% | 2.3% |
| Cash ConversionOCF / Net Profit | 1.49× | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $154.7M | ||
| Q3 25 | $46.6M | $122.4M | ||
| Q2 25 | $35.4M | $69.7M | ||
| Q1 25 | — | $55.2M | ||
| Q4 24 | $126.9M | $139.5M | ||
| Q3 24 | $101.0M | $90.7M | ||
| Q2 24 | $83.0M | $85.3M | ||
| Q1 24 | $44.5M | $45.6M |
| Q4 25 | $70.3M | $140.3M | ||
| Q3 25 | $37.4M | $110.9M | ||
| Q2 25 | $28.1M | $59.5M | ||
| Q1 25 | — | $45.6M | ||
| Q4 24 | $102.2M | $127.5M | ||
| Q3 24 | $90.4M | $84.3M | ||
| Q2 24 | $74.0M | $78.5M | ||
| Q1 24 | $37.1M | $35.5M |
| Q4 25 | 9.7% | 22.4% | ||
| Q3 25 | 5.2% | 18.1% | ||
| Q2 25 | 4.1% | 9.2% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | 15.2% | 23.6% | ||
| Q3 24 | 13.4% | 15.5% | ||
| Q2 24 | 10.5% | 13.1% | ||
| Q1 24 | 5.4% | 6.2% |
| Q4 25 | 1.5% | 2.3% | ||
| Q3 25 | 1.3% | 1.9% | ||
| Q2 25 | 1.1% | 1.6% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | 3.7% | 2.2% | ||
| Q3 24 | 1.6% | 1.2% | ||
| Q2 24 | 1.3% | 1.1% | ||
| Q1 24 | 1.1% | 1.8% |
| Q4 25 | 1.49× | 1.85× | ||
| Q3 25 | 0.70× | 1.49× | ||
| Q2 25 | 0.53× | 0.69× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 2.36× | 2.07× | ||
| Q3 24 | 1.48× | 1.31× | ||
| Q2 24 | 1.00× | 1.04× | ||
| Q1 24 | 0.74× | 0.63× |
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% |
WTS
Segment breakdown not available.
