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ESAB Corp (ESAB) stock

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NYSE: ESAB NYSE Industrial Machinery & Supplies & Components Next results ~November 4, 2026

C+ Fundamentals grade

ESAB Corp is a US-listed company in the industrial machinery & supplies & components industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$53

Cash-flow model

Base case. Range ~$30–$82 across our lower- and higher-growth cases (1.7%–11.7% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 44% above our base value.

Price used: $76.30, November 2, 2026

ESAB Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter ESAB files

Where Esab stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $3.00bn, up 9.7% on a year earlier, faster than 6.6% a quarter earlier. Free-cash-flow margin fell to 6.5% from 9.4% a year earlier. Operating margin narrowed to 12.1% from 15.9%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 1 of our 6 financial-health checks. Our cash-flow model value is $52.85 a share, against a share price of $64.97. At that price, our model says the market is pricing in about 9.0% a year of cash-flow growth for five years, faster than the 4.3% a year revenue growth it has delivered.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

ESAB Corp's trailing-twelve-month revenue grew 9.7% year on year, with a free-cash-flow margin of 6.5%. Where it stands out: stock pay as % of revenue of 0.6% ranks 14 of 70 industrial machinery & supplies & components companies we cover. Where it lags: long-term debt as % of assets of 36.4% ranks 51 of 59 industrial machinery & supplies & components companies we cover.

Our discounted-cash-flow model values the business at ~$53 per share in the base case (~$30–$82 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 9.7% (+3.0pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 3.0 points higher than a quarter earlier.

Things to watch

  • Priced above our value. The share price of $76.30 is 31% above our value per share of $53.
  • Margins narrowing. Operating margin is down 3.9 points on a year ago.
  • Volatile shares. Over the past year the shares showed annualised volatility of 47% and a beta of 1.8 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 36.4% ranks 51 of 59 industrial machinery & supplies & components companies we cover (median 23.4%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$1.33 against an average estimate of $1.37: missed by 3.0%
Revenue
$808m, up 12.9% on a year earlier
Share reaction
-0.7% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
total core sales growth growth 11% to 14% (Full Year 2026); core organic sales growth growth 2% to 4% (Full Year 2026)
Next report
November 4, 2026; average EPS estimate $1.33

ESAB's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+9.4%
  • 1 week+13.4%
  • 1 month+9.2%
  • This year-31.4%
  • 1 year-34.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3B
Operating margin
12.1%
Net margin
5.7%
EPS (TTM, diluted)
$2.81

Growth

Revenue growth
+9.7%
Change in growth rate
+3.0 pts
Share count change
+0.2%

Cash

Free cash flow (TTM)
$197M
FCF margin
6.5%
Stock pay % of revenue
0.6%

Earnings

Last results
August 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Dividend
  3. Results
  4. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

ESAB Corp valuation models and calculator

What the price is pricing in

The share price implies about 11.6% a year of cash-flow growth for five years.That is faster than the 4.3% a year revenue growth ESAB has delivered.

  • Priced in11.6%
  • Last 12 months9.7%
  • 3 years a year3.7%
  • 5 years a year4.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($75.98, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$53
Price used
$75.98close November 3, 2026
Implied change
▼ 30%
Uncertainty
High

How we got here: a discounted-cash-flow model of ESAB Corp's free cash flow after stock-based pay with after-tax interest added back ($250M, FY2026 Q2 TTM), growing 10.4% and 7.5% in the next two years (forecasts, guidance and its record), then back to 6.7% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$30–~$82 ; that spread sets a 35% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of ESAB Corp's free cash flow after stock-based pay ( $250M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value ESAB Corp as an operating company, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.09 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$53 ~$30–$82 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$110 ~$100–$150 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$58 ~$40–$84 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$57 ~$50–$67 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$66 ~$53–$110 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare ESAB Corp with Industrial Machinery & Supplies & Components in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −47%
  • Revenue growth 5 points higher ▲ +61%
  • Free-cash-flow margin 1 point lower ▼ −29%
  • Last year's free-cash-flow margin change, if it persists ▼ −46%
  • Discount rate 1 point higher ▼ −29%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $19$40$67$104$151$212
8.5% $6$21$40$66$100$143
10% —$9$24$44$70$103

Valuation multiples over time Market data may be delayed

At fiscal year end 2022202320242025Now
Share price$46.29$85.74$119.06$111.27$76.30
Market value$2.8bn$5.2bn$7.3bn$6.8bn$4.7bn
+ Net debt (− = net cash)$1.1bn$917m$836m$1.1bn$2.2bn
Enterprise value$3.9bn$6.1bn$8.1bn$7.9bn$6.9bn
Multiples
Price / sales 1.1x1.9x2.7x2.4x1.6x
Price / earnings 12.4x25.3x27.5x30.1x27.1x
Price / free cash flow 16.0x18.4x24.0x32.0x23.8x
EV / EBITDA 10.0x12.8x15.8x15.9x14.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

60 /100

Moderate moat

How hard ESAB's competitive advantage looks for rivals to wear away, judged from 5 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 8 / 20

    Net income has been a median 5.7% of total assets over 5 years.

  • Pricing power 13 / 20

    Gross margin has been a median 37.0%, moving by 1.3 percentage points (standard deviation) across 5 years.

  • Durability 13 / 20

    Operating margin has been a median 13.3%; its worst year was 12.1%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 5 of 5 years, at a median 8.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, before the open. Analysts expect revenue of $787m and EPS of $1.33 (range $1.24 to $1.42) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $5.39 +2% $3.1bn +13%
Next $6.38 +18% $3.3bn +9%

Next year's EPS estimate has moved −4.3% in 90 days, across 11 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −5.5% on 90 days ago. In the last 30 days, 0 analysts raised ESAB Corp's forecast and 3 cut it.

Consensus EPS forecast ESAB Corp, last 90 days
$5.00 $5.50 $6.00 $6.50 $7.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $5.70 Current fiscal year, 60 days ago: $5.46 Current fiscal year, 30 days ago: $5.45 Current fiscal year, 7 days ago: $5.42 Current fiscal year, Now: $5.39 $5.39 Next fiscal year, 90 days ago: $6.67 Next fiscal year, 60 days ago: $6.53 Next fiscal year, 30 days ago: $6.49 Next fiscal year, 7 days ago: $6.44 Next fiscal year, Now: $6.38 $6.38

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $5.70$6.67
60 days ago $5.46$6.53
30 days ago $5.45$6.49
7 days ago $5.42$6.44
Now $5.39$6.38

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.37 $1.33 −3.0%
Mar 2026 $1.34 $1.31 −1.9%
Dec 2025 $1.34 $1.35 +0.6%
Sept 2025 $1.27 $1.32 +3.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • total core sales growth Full Year 2026 11% growth to 14% growth Non-GAAP Raised
    “ESAB has updated its full-year 2026 outlook, which now projects total core sales growth of 11.0% to 14.0%, an increase from the previous guidance of 6.0% to 9.0%.” source
  • core organic sales growth Full Year 2026 2% growth to 4% growth Non-GAAP Maintained
    “Within this growth, core organic sales remains 2.0% to 4.0%, while the contribution from M&A has been revised upward to approximately 9.0% from 4.0%, and the anticipated FX impact has remained the same with the prior range of 0.0% to 1.0%.” source
  • core adjusted EPS Full Year 2026 $5.40 to $5.50 Non-GAAP
    “Consequently, the company has raised its core adjusted EBITDA forecast to a range of $615 million to $625 million, up from the previous $575 million to $595 million, while the outlook for core adjusted EPS has been adjusted to a range of $5.40 to $5.50.” source
  • contribution from M&A to core sales growth Full Year 2026 about 9% growth Non-GAAP Raised
    “Within this growth, core organic sales remains 2.0% to 4.0%, while the contribution from M&A has been revised upward to approximately 9.0% from 4.0%, and the anticipated FX impact has remained the same with the prior range of 0.0% to 1.0%.” source
  • anticipated FX impact on core sales growth Full Year 2026 0% growth to 1% growth Non-GAAP Maintained
    “Within this growth, core organic sales remains 2.0% to 4.0%, while the contribution from M&A has been revised upward to approximately 9.0% from 4.0%, and the anticipated FX impact has remained the same with the prior range of 0.0% to 1.0%.” source
  • core adjusted EBITDA Full Year 2026 $615m to $625m Non-GAAP Raised
    “Consequently, the company has raised its core adjusted EBITDA forecast to a range of $615 million to $625 million, up from the previous $575 million to $595 million, while the outlook for core adjusted EPS has been adjusted to a range of $5.40 to $5.50.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows ESAB Corp's revenue by +10.4% next year and +7.5% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+12.2%, weight 68%) and the company's own record (+6.7%, weight 32%) . How the weights are set.

Analyst recommendations

11 analysts, Oct 2026
Buy1091%
Hold19%
Sell00%

Monthly trend

  1. Oct 202619111
  2. Sep 202619111
  3. Aug 202619111
  4. Jul 20262810

Counts of recommendations published by analysts covering ESAB Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.3%
of tradable shares
Days to cover
4.08
at average volume
Short interest, 1 month
−1%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
6.5%
of shares
Employees
10,300
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −34.4%

$116.24 on October 31, 2025 to $76.30

ThenNowEffect
Revenue (last 12 months) $2.7bn $3.0bn +9.7%
Net margin 9.4% 5.7% −38.6%
P/E multiple 27.8x 27.1x −2.3%
Share count 61m 61m −0.2%

Biggest factor: net margin.

Last 3 years +2.7%

$74.26 on November 3, 2023 to $76.30

ThenNowEffect
Revenue (last 12 months) $2.7bn $3.0bn +11.6%
Net margin 7.8% 5.7% −26.6%
P/E multiple 21.3x 27.1x +27.4%
Share count 60m 61m −1.6%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 2023202420252026 to date
Return
ESAB+85%+39%−7%−31%
Industry peers (median)+19%+2%+13%+5%
S&P 500+26%+25%+18%+11%
Months that ended higher
ESAB75%58%50%55%
S&P 50067%75%75%46%
Largest fall from a high during the year
ESAB−15%−19%−22%−52%
S&P 500−10%−8%−19%−9%

Worst fall since March 29, 2022: 52% from February 13, 2026 to October 19, 2026. Getting back needed a 108% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$64.51 – $134.27
From 52-week high
−43.2%
vs 50-day average
+9.1%
vs 200-day average
−17.8%
Volatility (1 year)
47%
Beta vs S&P 500
1.84

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±4.5%
After a week
5 up, 7 down
typical move ±6.8%
After a month
4 up, 8 down
typical move ±9.9%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −0.7% +0.5% −7.9% −18.9%
May 7, 2026 −0.6% +0.5% −10.2% −13.4%
February 20, 2026 −6.1% −0.3% −3.4% −26.7%
February 2, 2026 −2.7% −0.4% +9.7% −2.8%
October 29, 2025 −2.5% −1.1% −7.1% −7.3%
August 6, 2025 −12.2% +0.7% −13.3% −10.8%
May 1, 2025 +3.0% +2.2% +4.8% +1.7%
February 20, 2025 −4.0% −2.1% −0.8% −4.9%
October 29, 2024 +12.6% −0.1% +13.7% +15.1%
August 2, 2024 −5.5% −4.7% −3.7% +0.1%
May 1, 2024 −2.2% +0.6% +3.4% −2.9%
February 29, 2024 +2.0% +1.3% +3.0% +13.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How ESAB Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

ESAB Corp in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) ESAB Corp
$2.7B $2.8B $2.9B $3B $3.1B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $2.7B Revenue (TTM), FY23 Q4: $2.8B Revenue (TTM), FY24 Q1: $2.8B Revenue (TTM), FY24 Q2: $2.8B Revenue (TTM), FY24 Q3: $2.8B Revenue (TTM), FY24 Q4: $2.7B Revenue (TTM), FY25 Q1: $2.7B Revenue (TTM), FY25 Q2: $2.7B Revenue (TTM), FY25 Q3: $2.8B Revenue (TTM), FY25 Q4: $2.8B Revenue (TTM), FY26 Q1: $2.9B Revenue (TTM), FY26 Q2: $3B $3B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $2.7B
FY23 Q4 $2.8B
FY24 Q1 $2.8B
FY24 Q2 $2.8B
FY24 Q3 $2.8B
FY24 Q4 $2.7B
FY25 Q1 $2.7B
FY25 Q2 $2.7B
FY25 Q3 $2.8B
FY25 Q4 $2.8B
FY26 Q1 $2.9B
FY26 Q2 $3B
Revenue growth, TTM YoY ESAB Corp
-5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 7.7% Revenue growth, TTM YoY, FY23 Q4: 7.0% Revenue growth, TTM YoY, FY24 Q1: 5.7% Revenue growth, TTM YoY, FY24 Q2: 2.9% Revenue growth, TTM YoY, FY24 Q3: 0.4% Revenue growth, TTM YoY, FY24 Q4: -1.2% Revenue growth, TTM YoY, FY25 Q1: -1.8% Revenue growth, TTM YoY, FY25 Q2: -1.1% Revenue growth, TTM YoY, FY25 Q3: 1.2% Revenue growth, TTM YoY, FY25 Q4: 3.7% Revenue growth, TTM YoY, FY26 Q1: 6.6% Revenue growth, TTM YoY, FY26 Q2: 9.7% 9.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 7.7%
FY23 Q4 7.0%
FY24 Q1 5.7%
FY24 Q2 2.9%
FY24 Q3 0.4%
FY24 Q4 -1.2%
FY25 Q1 -1.8%
FY25 Q2 -1.1%
FY25 Q3 1.2%
FY25 Q4 3.7%
FY26 Q1 6.6%
FY26 Q2 9.7%
Operating margin (TTM) ESAB Corp
12% 14% 16% 18% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 13.8% Operating margin (TTM), FY23 Q4: 14.6% Operating margin (TTM), FY24 Q1: 15.3% Operating margin (TTM), FY24 Q2: 15.7% Operating margin (TTM), FY24 Q3: 15.9% Operating margin (TTM), FY24 Q4: 16.3% Operating margin (TTM), FY25 Q1: 16.4% Operating margin (TTM), FY25 Q2: 15.9% Operating margin (TTM), FY25 Q3: 15.6% Operating margin (TTM), FY25 Q4: 14.5% Operating margin (TTM), FY26 Q1: 13.5% Operating margin (TTM), FY26 Q2: 12.1% 12.1%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 13.8%
FY23 Q4 14.6%
FY24 Q1 15.3%
FY24 Q2 15.7%
FY24 Q3 15.9%
FY24 Q4 16.3%
FY25 Q1 16.4%
FY25 Q2 15.9%
FY25 Q3 15.6%
FY25 Q4 14.5%
FY26 Q1 13.5%
FY26 Q2 12.1%
FCF margin (TTM) ESAB Corp
6% 8% 10% 12% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 9.2% FCF margin (TTM), FY23 Q4: 10.2% FCF margin (TTM), FY24 Q1: 10.4% FCF margin (TTM), FY24 Q2: 11.2% FCF margin (TTM), FY24 Q3: 11.0% FCF margin (TTM), FY24 Q4: 11.1% FCF margin (TTM), FY25 Q1: 10.8% FCF margin (TTM), FY25 Q2: 9.4% FCF margin (TTM), FY25 Q3: 8.5% FCF margin (TTM), FY25 Q4: 7.5% FCF margin (TTM), FY26 Q1: 7.5% FCF margin (TTM), FY26 Q2: 6.5% 6.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 9.2%
FY23 Q4 10.2%
FY24 Q1 10.4%
FY24 Q2 11.2%
FY24 Q3 11.0%
FY24 Q4 11.1%
FY25 Q1 10.8%
FY25 Q2 9.4%
FY25 Q3 8.5%
FY25 Q4 7.5%
FY26 Q1 7.5%
FY26 Q2 6.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar ESAB took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $2.8B
  2. Cost of revenue $1.8B · 63.1%
  3. Gross profit $1B · 36.9%
  4. Research and development $44M · 1.5%
  5. Selling, general and admin $608M · 21.4%
  6. Operating income $412M · 14.5%
  7. Income tax $69.2M · 2.4%
  8. Interest and other $116M · 4.1%
  9. Net income $227M · 8.0%

Shares of revenue. Source: ESAB's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jul 2026
Income
Revenue 1,950 2,428 2,593 2,775 2,741 2,843 3,002
Gross profit 682 838 886 1,016 1,037 1,048 1,109
EBITDA 279 382 395 479 514 496 461
Operating income 202 306 329 404 447 412 362
Net income 157 235 224 205 265 227 173
Diluted EPS $2.62 $3.92 $3.69 $3.36 $4.31 $3.67 $2.81
Growth (year on year)
Revenue — +24.5% +6.8% +7.0% −1.2% +3.7% +9.7%
EBITDA — +37.1% +3.4% +21.3% +7.3% −3.5% −9.0%
Operating income — +51.5% +7.5% +22.8% +10.7% −7.9% −16.9%
Net income — +49.4% −4.8% −8.3% +29.0% −14.4% −32.7%
Diluted EPS — +49.6% −5.9% −8.9% +28.3% −14.8% −32.8%
Margins
Gross margin 35.0% 34.5% 34.1% 36.6% 37.9% 36.9% 37.0%
EBITDA margin 14.3% 15.7% 15.2% 17.3% 18.8% 17.5% 15.4%
Operating margin 10.4% 12.6% 12.7% 14.6% 16.3% 14.5% 12.1%
Net margin 8.1% 9.7% 8.6% 7.4% 9.7% 8.0% 5.7%
Free-cash-flow margin 13.8% 8.9% 6.7% 10.2% 11.1% 7.5% 6.5%
Cash flow
Cash from operations 309 251 214 330 355 261 259
Capital spending 40 36 40 48 52 47 62
Free cash flow 269 215 174 282 304 213 197
Stock-based pay 6 6 13 16 20 17 17
Free cash flow after stock pay 263 209 161 266 284 196 179
Balance sheet
Cash 49 41 72 102 249 186 217
Total debt 0 0 1,221 1,020 1,085 1,243 2,417
Net debt (negative = net cash) −49 −41 1,149 917 836 1,057 2,199
Diluted shares 60m 60m 60m 61m 61m 61m 61m
Returned to shareholders
Dividends 0 0 6 13 17 22 24
Total returned 0 0 6 13 17 22 24

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 6 checks passed · July 3, 2026
What it owns · $6.6bn
Short-term assets $1.5bnLonger-term assets $5.0bn
What it owes, and who funded it · $6.5bn
Short-term liabilities $779mLonger-term liabilities $3.2bnShareholders' equity $2.5bn
  • Short-term assets cover short-term liabilities $1.5bn of assets due within a year against $779m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.5bn short-term assets against $3.2bn of longer-dated liabilities.
  • More cash than debt $217m of cash against $2.4bn of debt.
  • Debt below 40% of shareholders' equity Debt is 94% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 0% to 94% over five years.
  • A year's operating cash flow covers at least 20% of debt $259m of operating cash flow against $2.4bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From ESAB Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$24.4M
Returned to shareholders
12%
of free cash flow
Diluted share count
+0.2%
year over year
Total shareholder yield
0.5%
dividends 0.5% + buybacks 0.0% of market value
Dividend payout ratio
14%
of net income paid out
R&D spending
1.6%
of revenue
Sales & admin spending
23.2%
of revenue
Days sales outstanding
67 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in industrial machinery & supplies & components
Last 12 months unless stated ESAB NDSN CR MIDD SYM GTES Median
Revenue, last 12 months $3.0bn $3.0bn $2.8bn $3.4bn $2.6bn $3.6bn $1.4bn
Revenue growth, last 12 months 9.7% 7.0% 21.5% 8.4% 20.6% 4.0% 8.3%
Revenue growth, 3-year average 3.7% 4.7% 19.7% −5.9% 37.0% −0.4% 4.0%
Revenue growth, latest quarter 12.9% 10.3% 28.1% 9.9% 21.7% 5.6% 9.1%
Gross margin 37.0% 55.3% 41.5% 38.4% 21.3% 40.3% 35.2%
Operating margin 12.1% 26.9% 17.7% 16.5% −0.0% 13.5% 13.1%
Operating margin, 3-year average 14.6% 25.6% 17.2% 19.5% −4.6% 13.8% 13.7%
Net margin 5.7% 18.6% 12.4% −13.9% 0.3% 10.4% 8.9%
Cash from operations / revenue 8.6% 26.0% 15.5% 15.6% 33.8% 12.4% 11.9%
Free-cash-flow margin 6.5% 24.3% 13.8% 14.2% 32.6% 10.3% 8.8%
Free-cash-flow margin, 3-year average 9.1% 21.7% 11.9% 20.1% 14.6% 9.5% 9.8%
Stock pay / revenue 0.6% 0.8% 0.7% 0.7% 9.0% 0.8% 0.8%
Change in share count 0.2% −1.8% 0.4% −10.5% 18.8% −1.7% −0.0%

Median of all 76 companies we cover in industrial machinery & supplies & components. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

76 industrial machinery & supplies & components companies
Measure Company Peer median Rank
Revenue growth Growth 9.7% 8.3% 34 of 75
Change in growth rate Growth +3.0pp +1.2pp 25 of 75
Gross margin Profitability 37.0% 35.4% 31 of 70
Operating margin Profitability 12.1% 13.0% 40 of 75
Net margin Profitability 5.7% 8.9% 45 of 76
Free-cash-flow margin Cash generation 6.5% 9.1% 47 of 76
Stock pay as % of revenue Cash generation 0.6% 0.8% 14 of 70
Long-term debt as % of assets Balance sheet 36.4% 23.4% 51 of 59
Change in share count Balance sheet 0.2% -0.0% 44 of 73
Days sales outstanding Balance sheet 67 days 63 days 41 of 65

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
EMEA and APAC $1.7B 60.2% ▲ 9.5%
Americas $1.1B 39.8% ▼ 3.9%
Products and services
Line of business Revenue Share YoY
Equipment Products $1.9B 65.8% ▲ 109.4%
Consumable Products $972M 34.2% ▼ 47.4%

From ESAB Corp's 10-K filed February 20, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$6.4B
Institutions reporting
344
Shares held vs prior quarter
▲ 10.4%
Positions opened / closed
50 / 58

Top buyers and sellers, Q2 2026: 175 institutions bought and 169 sold ; the biggest buyer was Invesco Ltd (+2.0M shares) and the biggest seller Millennium Management LLC (−903K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Price T Rowe Associates Inc $801M 8.1M 12.5% ▲ 22.1%
T. Rowe Price Investment Management, Inc. $752M 7.6M 11.7% ▼ 6.6%
Blackrock, Inc. $525M 5.3M 8.2% ▲ 2.6%
Invesco Ltd. $273M 2.8M 4.3% ▲ 238.6%
Vanguard Capital Management LLC $257M 2.6M 4.0% ▲ 0.6%
Vanguard Portfolio Management LLC $244M 2.5M 3.8% ▼ 0.6%
Fil Ltd $231M 2.3M 3.6% ▲ 67.9%
Capital Research Global Investors $184M 1.9M 2.9% ▲ 201.2%
State Street Corp $180M 1.8M 2.8% ▲ 4.8%
Neuberger Berman Group LLC $152M 1.5M 2.4% ▼ 8.9%
FMR LLC $152M 1.5M 2.4% ▲ 24.2%
Dimensional Fund Advisors LP $144M 1.5M 2.2% ▲ 19.8%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not ESAB Corp's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $8.9M 11 trades by 5 insiders · 95% under pre-set plans
Net ▼ $8.9M net selling
Insider Date Trade Shares Price Value
Jordan Rhonda L Director August 7, 2026 Sell 1,000 $95.00 $95,000
Campion Michele Chief Human Resources Officer February 27, 2026 Sell pre-set plan 2,896 $122.63 $355,136
Campion Michele Chief Human Resources Officer February 27, 2026 Sell pre-set plan 2,200 $122.63 $269,786
Kambeyanda Shyam President and CEO February 23, 2026 Sell pre-set plan 1,300 $125.79 $163,527
Kambeyanda Shyam President and CEO February 23, 2026 Sell pre-set plan 10,813 $125.00 $1.4M
Kambeyanda Shyam President and CEO February 23, 2026 Sell pre-set plan 32,286 $123.00 $4M
Kambeyanda Shyam President and CEO February 23, 2026 Sell pre-set plan 600 $127.86 $76,716
Kambeyanda Shyam President and CEO February 23, 2026 Sell pre-set plan 1,700 $128.75 $218,875
Kambeyanda Shyam President and CEO February 23, 2026 Sell pre-set plan 12,705 $123.72 $1.6M
Johnson Kevin J Chief Financial Officer February 6, 2026 Sell pre-set plan 3,494 $134.62 $470,362
Vinnakota Rajiv Director November 11, 2025 Sell 2,783 $114.50 $318,654

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 4 trades and filings

In the last 12 months, 1 member of Congress disclosed 4 purchases and 0 sales of ESAB Corp shares.

  • Thomas H. Kean, Jr.(R-NJ 7):Purchase, $1,001 - $15,000, traded September 29, 2026, filed October 30, 2026
  • Thomas H. Kean, Jr.(R-NJ 7):Purchase, $1,001 - $15,000, traded July 7, 2026, filed August 18, 2026
  • Thomas H. Kean, Jr.(R-NJ 7):Purchase, $1,001 - $15,000, traded June 24, 2026, filed July 15, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 2, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 20, 2026
  • February 2, 2026
  • October 29, 2025
  • August 6, 2025

Recent SEC filings

Data status

When each part of this page on ESAB Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

ESAB Corp in brief

What does ESAB Corp do?
ESAB Corp is a US-listed company in the industrial machinery & supplies & components industry. Its financial year ends in December.
What is ESAB Corp's stock ticker?
ESAB Corp trades under the ticker ESAB on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is ESAB Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, ESAB Corp reported revenue of $3B, 9.7% higher than a year earlier, according to its SEC filings.
What is ESAB Corp's free cash flow?
ESAB Corp's free-cash-flow margin is 6.5% of revenue over the trailing twelve months, ranking 47 of the 76 industrial machinery & supplies & components companies we cover.
What is ESAB Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of ESAB Corp's free cash flow after stock-based pay gives ~$53 per share in the base case, and ~$30–$82 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are ESAB Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Price T Rowe Associates Inc, T. Rowe Price Investment Management, Inc. and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is ESAB Corp's market cap?
On November 2, 2026, ESAB Corp's market capitalisation was about $4.7B, with a price-to-earnings ratio of 27.1 and net debt of $2.2B. Market figures come from third-party market data and may be delayed.
Does ESAB Corp pay a dividend?
Yes: ESAB Corp paid $24.4M in dividends over the trailing twelve months, a dividend yield of 0.51% and a payout ratio of 14.1%.
How much debt does ESAB Corp have?
ESAB Corp's debt-to-equity ratio is 94.4%, from its latest balance sheet (0.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are ESAB Corp's competitors?
In our Industrial Machinery & Supplies & Components peer group, the companies closest to ESAB Corp are Nordson Corporation, Crane Co, Middleby Corp, Symbotic Inc. and Gates Industrial Corp Ltd. The side-by-side comparison below sets their revenue, margins and growth against ESAB Corp's.
Are insiders buying or selling ESAB Corp stock?
Over the last 12 months, ESAB Corp's directors and officers reported 0 open-market purchases and 11 sales on Form 4. The insider trading page charts every trade.
When is ESAB Corp's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — ESAB Corp announces its own schedule.