ESABNYSEGeneral Industrial Machinery & Equipment, NECFiscal year ends December 31
ESAB Corp
Financials through Q2 FY2026, quarter ended Jul 3, 2026Last filing: 10-Q on Aug 6, 2026
$64.51−0.84 (-1.29%)
Close on Oct 19, 2026
- Market cap
- $3.98B
- P/E (TTM)
- 21.6
- Dividend yield
- 0.59%
Margins
Share of revenue, fiscal years 2019 to 2025
Gross margin
36.9%+1.9 pts over 5 years
Operating margin
14.5%+4.1 pts over 5 years
Net margin
8.0%−0.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.7% | +3.1% | +7.8% | – | |
| Gross profit | +1.0% | +5.8% | +9.0% | – | |
| Operating income | -7.9% | +7.8% | +15.3% | – | |
| Net income | -14.4% | +0.4% | +7.6% | – | |
| EPS, diluted | -14.8% | -0.2% | +7.0% | – | |
| Free cash flow | -29.8% | +7.0% | -4.5% | – | |
| Dividend per share | +26.7% | +36.3% | – | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 11.5% | |
| Return on assets | – | – | 5.2% | |
| Current ratio | – | – | 1.90 | |
| Debt to equity | – | – | 0.57 | |
| Net debt to EBITDA | – | – | 2.11× | |
| Inventory turnover | – | – | 4.1× | |
| Capex to revenue | – | 2.1% | 1.7% | |
| Diluted shares | – | 60M | 61M |
Where the cash went
Fiscal 2021 to 2025, five years combined
ESAB generated $1.41B from operations and spent $281.37M on capital expenditure, dividends and share buybacks. 79% of that went back into the business.
Generated
$1.41B
Used
$281.37M
Capital expenditure$223.07M79%Dividends$58.30M21%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.0%
×Asset turnover0.65×
×Equity multiplier2.24×
=Return on equity, FY202511.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 8.0% | 0.65× | 2.24× | 11.5% |
| FY2024 | 9.7% | 0.70× | 2.33× | 15.7% |
| FY2023 | 7.4% | 0.73× | 2.56× | 13.9% |
| FY2022 | 8.6% | 0.72× | 1.89× | 11.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$226.77M
- Cash generatingOperating cash flow above zero$260.57M
- Return on assets improvedROA up on the prior year6.9% → 5.6%
- Earnings backed by cashOperating cash flow above net income$260.57M vs $226.77M
- Less leverageLong-term debt to assets fell26.3% → 25.9%
- Better liquidityCurrent ratio rose1.82 → 1.90
- No dilutionShare count did not rise61M → 61M
- Gross margin improvedGross margin up on the prior year37.85% → 36.88%
- More efficientAsset turnover rose0.72 → 0.70