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Side-by-side financial comparison of ESAB Corp (ESAB) and EXPRO GROUP HOLDINGS N.V. (XPRO). Click either name above to swap in a different company.
ESAB Corp is the larger business by last-quarter revenue ($727.8M vs $382.1M, roughly 1.9× EXPRO GROUP HOLDINGS N.V.). ESAB Corp runs the higher net margin — 7.5% vs 1.5%, a 6.0% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs -12.5%). ESAB Corp produced more free cash flow last quarter ($70.3M vs $23.2M). Over the past eight quarters, ESAB Corp's revenue compounded faster (2.8% CAGR vs -0.2%).
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
Expro is an energy services provider headquartered in Houston, Texas, United States.
ESAB vs XPRO — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $727.8M | $382.1M |
| Net Profit | $54.8M | $5.8M |
| Gross Margin | 37.0% | — |
| Operating Margin | 14.6% | 3.1% |
| Net Margin | 7.5% | 1.5% |
| Revenue YoY | 8.5% | -12.5% |
| Net Profit YoY | 2.1% | -74.9% |
| EPS (diluted) | $0.90 | $0.05 |
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 | $382.1M | ||
| Q3 25 | $715.6M | $411.4M | ||
| Q2 25 | $678.1M | $422.7M | ||
| Q1 25 | — | $390.9M | ||
| Q4 24 | $670.8M | $436.8M | ||
| Q3 24 | $673.3M | $422.8M | ||
| Q2 24 | $707.1M | $469.6M | ||
| Q1 24 | $689.7M | $383.5M |
| Q4 25 | $54.8M | $5.8M | ||
| Q3 25 | $66.9M | $14.0M | ||
| Q2 25 | $67.4M | $18.0M | ||
| Q1 25 | — | $13.9M | ||
| Q4 24 | $53.7M | $23.0M | ||
| Q3 24 | $68.2M | $16.3M | ||
| Q2 24 | $82.9M | $15.3M | ||
| Q1 24 | $60.0M | $-2.7M |
| 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 24 | 37.0% | — |
| Q4 25 | 14.6% | 3.1% | ||
| Q3 25 | 15.2% | 6.4% | ||
| Q2 25 | 16.2% | 7.7% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | 16.6% | 7.3% | ||
| Q3 24 | 15.7% | 6.2% | ||
| Q2 24 | 16.9% | 5.9% | ||
| Q1 24 | 16.0% | 2.2% |
| Q4 25 | 7.5% | 1.5% | ||
| Q3 25 | 9.3% | 3.4% | ||
| Q2 25 | 9.9% | 4.3% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | 8.0% | 5.3% | ||
| Q3 24 | 10.1% | 3.8% | ||
| Q2 24 | 11.7% | 3.3% | ||
| Q1 24 | 8.7% | -0.7% |
| Q4 25 | $0.90 | $0.05 | ||
| Q3 25 | $1.09 | $0.12 | ||
| Q2 25 | $1.10 | $0.16 | ||
| Q1 25 | — | $0.12 | ||
| Q4 24 | $0.87 | $0.20 | ||
| Q3 24 | $1.11 | $0.14 | ||
| Q2 24 | $1.35 | $0.13 | ||
| Q1 24 | $0.98 | $-0.02 |
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 | $196.1M |
| Total DebtLower is stronger | $1.3B | $79.1M |
| Stockholders' EquityBook value | $2.1B | $1.5B |
| Total Assets | $4.9B | $2.3B |
| Debt / EquityLower = less leverage | 0.63× | 0.05× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.2M | $196.1M | ||
| Q3 25 | $258.2M | $197.9M | ||
| Q2 25 | $291.3M | $206.8M | ||
| Q1 25 | — | $179.3M | ||
| Q4 24 | $249.4M | $183.0M | ||
| Q3 24 | $253.7M | $165.7M | ||
| Q2 24 | $228.5M | $133.5M | ||
| Q1 24 | $76.5M | $163.2M |
| Q4 25 | $1.3B | $79.1M | ||
| Q3 25 | $1.1B | $99.1M | ||
| Q2 25 | $1.1B | $121.1M | ||
| Q1 25 | — | $121.1M | ||
| Q4 24 | $1.1B | $121.1M | ||
| Q3 24 | $1.1B | $121.1M | ||
| Q2 24 | $1.1B | $121.1M | ||
| Q1 24 | $992.8M | $40.0M |
| Q4 25 | $2.1B | $1.5B | ||
| Q3 25 | $2.1B | $1.5B | ||
| Q2 25 | $1.9B | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | $1.8B | $1.5B | ||
| Q3 24 | $1.8B | $1.5B | ||
| Q2 24 | $1.7B | $1.5B | ||
| Q1 24 | $1.6B | $1.3B |
| Q4 25 | $4.9B | $2.3B | ||
| Q3 25 | $4.4B | $2.3B | ||
| Q2 25 | $4.2B | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | $4.0B | $2.3B | ||
| Q3 24 | $4.1B | $2.3B | ||
| Q2 24 | $4.0B | $2.3B | ||
| Q1 24 | $3.8B | $2.0B |
| Q4 25 | 0.63× | 0.05× | ||
| Q3 25 | 0.51× | 0.07× | ||
| Q2 25 | 0.55× | 0.08× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | 0.60× | 0.08× | ||
| Q3 24 | 0.59× | 0.08× | ||
| Q2 24 | 0.63× | 0.08× | ||
| Q1 24 | 0.61× | 0.03× |
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 | $57.1M |
| Free Cash FlowOCF − Capex | $70.3M | $23.2M |
| FCF MarginFCF / Revenue | 9.7% | 6.1% |
| Capex IntensityCapex / Revenue | 1.5% | 8.9% |
| Cash ConversionOCF / Net Profit | 1.49× | 9.89× |
| TTM Free Cash FlowTrailing 4 quarters | $238.0M | $97.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.5M | $57.1M | ||
| Q3 25 | $46.6M | $63.2M | ||
| Q2 25 | $35.4M | $48.4M | ||
| Q1 25 | — | $41.5M | ||
| Q4 24 | $126.9M | $97.4M | ||
| Q3 24 | $101.0M | $55.3M | ||
| Q2 24 | $83.0M | $-13.2M | ||
| Q1 24 | $44.5M | $29.9M |
| Q4 25 | $70.3M | $23.2M | ||
| Q3 25 | $37.4M | $39.0M | ||
| Q2 25 | $28.1M | $27.2M | ||
| Q1 25 | — | $8.4M | ||
| Q4 24 | $102.2M | $53.0M | ||
| Q3 24 | $90.4M | $23.3M | ||
| Q2 24 | $74.0M | $-49.5M | ||
| Q1 24 | $37.1M | $-801.0K |
| Q4 25 | 9.7% | 6.1% | ||
| Q3 25 | 5.2% | 9.5% | ||
| Q2 25 | 4.1% | 6.4% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | 15.2% | 12.1% | ||
| Q3 24 | 13.4% | 5.5% | ||
| Q2 24 | 10.5% | -10.5% | ||
| Q1 24 | 5.4% | -0.2% |
| Q4 25 | 1.5% | 8.9% | ||
| Q3 25 | 1.3% | 5.9% | ||
| Q2 25 | 1.1% | 5.0% | ||
| Q1 25 | — | 8.5% | ||
| Q4 24 | 3.7% | 10.2% | ||
| Q3 24 | 1.6% | 7.6% | ||
| Q2 24 | 1.3% | 7.7% | ||
| Q1 24 | 1.1% | 8.0% |
| Q4 25 | 1.49× | 9.89× | ||
| Q3 25 | 0.70× | 4.52× | ||
| Q2 25 | 0.53× | 2.69× | ||
| Q1 25 | — | 2.98× | ||
| Q4 24 | 2.36× | 4.23× | ||
| Q3 24 | 1.48× | 3.40× | ||
| Q2 24 | 1.00× | -0.86× | ||
| 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% |
XPRO
| NLA | $130.3M | 34% |
| ESSA | $116.3M | 30% |
| MENA | $93.0M | 24% |
| Other | $42.5M | 11% |
