InsiderClue
Stocks · Industrials · General Industrial Machinery & Equipment, NEC

ESAB Corp

ESAB Clue Score37
United States Fiscal year ends December CIK 0001877322
$66.85 +3.04% Close, 9 Oct 2026
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Price $66.85 −4.89% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 29 Mar 2022. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2020Revenue1,950.1Operating income202.1Net income157.4EPS, diluted2.62Fiscal year 2021Revenue2,428.1 +24.5%Operating income306.2Net income235.1 +49.4%EPS, diluted3.92 +49.6%Fiscal year 2022Revenue2,593.5 +6.8%Operating income329.1Net income223.7 −4.8%EPS, diluted3.69 −5.9%Fiscal year 2023Revenue2,774.8 +7.0%Operating income404.2Net income205.3 −8.3%EPS, diluted3.36 −8.9%Fiscal year 2024Revenue2,740.8 −1.2%Operating income447.5Net income264.8 +29.0%EPS, diluted4.31 +28.3%Fiscal year 2025Revenue2,842.6 +3.7%Operating income412.2Net income226.8 −14.4%EPS, diluted3.67 −14.8%
FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1,950.1 2,428.1 2,593.5 2,774.8 2,740.8 2,842.6
Growth +24.5% +6.8% +7.0% −1.2% +3.7%
Operating income 202.1 306.2 329.1 404.2 447.5 412.2
Net income 157.4 235.1 223.7 205.3 264.8 226.8
Growth +49.4% −4.8% −8.3% +29.0% −14.4%
EPS, diluted 2.62 3.92 3.69 3.36 4.31 3.67
Growth +49.6% −5.9% −8.9% +28.3% −14.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2020Gross margin35.0%Operating margin10.4%Net margin8.1%Free cash flow margin13.8%Fiscal year 2021Gross margin34.5%Operating margin12.6%Net margin9.7%Free cash flow margin8.9%Fiscal year 2022Gross margin34.1%Operating margin12.7%Net margin8.6%Free cash flow margin6.7%Fiscal year 2023Gross margin36.6%Operating margin14.6%Net margin7.4%Free cash flow margin10.2%Fiscal year 2024Gross margin37.9%Operating margin16.3%Net margin9.7%Free cash flow margin11.1%Fiscal year 2025Gross margin36.9%Operating margin14.5%Net margin8.0%Free cash flow margin7.5%
FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 35.0% 34.5% 34.1% 36.6% 37.9% 36.9%
Operating margin 10.4% 12.6% 12.7% 14.6% 16.3% 14.5%
Net margin 8.1% 9.7% 8.6% 7.4% 9.7% 8.0%
Free cash flow margin 13.8% 8.9% 6.7% 10.2% 11.1% 7.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2020Operating cash flow309.2Capital expenditure−40.1Free cash flow269.0Dividends paid0.0Fiscal year 2021Operating cash flow250.7Capital expenditure−35.6Free cash flow215.2 −20.0%Dividends paid0.0Fiscal year 2022Operating cash flow214.4Capital expenditure−40.2Free cash flow174.1 −19.1%Dividends paid−6.1Fiscal year 2023Operating cash flow330.5Capital expenditure−48.2Free cash flow282.3 +62.1%Dividends paid−13.3Fiscal year 2024Operating cash flow355.4Capital expenditure−51.8Free cash flow303.6 +7.5%Dividends paid−17.0Fiscal year 2025Operating cash flow260.6Capital expenditure−47.3Free cash flow213.3 −29.8%Dividends paid−21.9
FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 309.2 250.7 214.4 330.5 355.4 260.6
Capital expenditure −40.1 −35.6 −40.2 −48.2 −51.8 −47.3
Free cash flow 269.0 215.2 174.1 282.3 303.6 213.3
Growth −20.0% −19.1% +62.1% +7.5% −29.8%
Dividends paid 0.0 0.0 −6.1 −13.3 −17.0 −21.9

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2020Cash49.2Shareholders’ equity2,544.8Fiscal year 2021Cash41.2Total debt0.0Net cash (debt)41.2Shareholders’ equity2,460.7Debt to equity0.00Fiscal year 2022Cash72.0Total debt1,218.6Net cash (debt)−1,146.6Shareholders’ equity1,350.2Debt to equity0.90Fiscal year 2023Cash102.0Total debt1,018.1Net cash (debt)−916.1Shareholders’ equity1,607.4Debt to equity0.63Fiscal year 2024Cash249.4Total debt1,075.7Net cash (debt)−826.4Shareholders’ equity1,769.0Debt to equity0.61Fiscal year 2025Cash185.9Total debt1,235.0Net cash (debt)−1,049.1Shareholders’ equity2,166.0Debt to equity0.57
FY2020FY2021FY2022FY2023FY2024FY2025
Cash 49.2 41.2 72.0 102.0 249.4 185.9
Total debt n/a 0.0 1,218.6 1,018.1 1,075.7 1,235.0
Net cash (debt) n/a 41.2 −1,146.6 −916.1 −826.4 −1,049.1
Shareholders’ equity 2,544.8 2,460.7 1,350.2 1,607.4 1,769.0 2,166.0
Debt to equity n/a 0.00 0.90 0.63 0.61 0.57

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
1,950.1 2,428.1 2,593.5 2,774.8 2,740.8 2,842.6
Growth +24.5% +6.8% +7.0% −1.2% +3.7%
1,267.6 1,590.1 1,708.0 1,759.0 1,703.3 1,794.2
682.5 838.0 885.5 1,015.8 1,037.5 1,048.3
Growth +22.8% +5.7% +14.7% +2.1% +1.0%
34.8 39.7 36.0 38.8 39.2 44.0
458.7 512.8 533.4 587.5 579.8 608.4
202.1 306.2 329.1 404.2 447.5 412.2
Growth +51.5% +7.5% +22.8% +10.7% −7.9%
205.8 319.1 300.3 319.1 370.4 328.3
46.0 80.4 69.2 95.7 77.3 69.2
157.4 235.1 223.7 205.3 264.8 226.8
Growth +49.4% −4.8% −8.3% +29.0% −14.4%
Per share
2.62 3.92 3.70 3.39 4.36 3.71
2.62 3.92 3.69 3.36 4.31 3.67
Growth +49.6% −5.9% −8.9% +28.3% −14.8%
60.0 60.0 60.1 60.2 60.4 60.7
60.0 60.0 60.2 60.7 61.1 61.3
Growth +0.0% +0.2% +0.8% +0.7% +0.3%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 7.8% a year over five years, and earnings per share grew 7.0% a year.
  • The diluted share count rose 2.1% in five years, which is dilution.
  • Operating margin is up 4.1 points on five years ago, at 14.5%.
  • Profitable in every one of the 6 years on file.