ESAB Corp ESAB
Founded in 1904, ESAB Corporation ("ESAB," "we" or the "Company"), is a focused premier industrial compounder. ESAB provides its partners with fabrication technology advanced equipment, consumables, gas control equipment, robotics and digital solutions. The Company's rich history of innovative products and workflow solutions and our business management system, ESAB Business Excellence ("EBXai"), enables the Company's purpose of Shaping the world we imagineTM. We formulate, develop, manufacture and supply consumable products and equipment, including cutting, joining and welding robotics, as well as gas control equipment. Our products are marketed under several brand names, most notably ESAB, providing a wide range of products with innovative technologies to solve challenges in virtually any industry. Our sales channels include both independent distributors and direct salespeople that, depending on geography and end market, sell our products to our end users. ESAB is based in North Bethesda, Maryland and employs approximately 10,300 associates and serves customers in approximately 150 countries.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $2.84B | $2.74B | $2.77B | $2.59B | $2.43B | $1.95B | — |
| Cost of revenue | $1.79B | $1.70B | $1.76B | $1.71B | $1.59B | $1.27B | — |
| Gross profit | $1.05B | $1.04B | $1.02B | $885.5M | $838.0M | $682.5M | — |
| R&D | $44.0M | $39.2M | $38.8M | $36.0M | $39.7M | $34.8M | — |
| SG&A | $608.4M | $579.8M | $587.5M | $533.4M | $512.8M | $458.7M | — |
| Total operating expenses | $144.8M | $162.3M | $168.7M | $140.9M | — | — | — |
| Operating income | $412.2M | $447.4M | $404.2M | $329.1M | $306.2M | $202.1M | — |
| Pre-tax income | $328.3M | $370.4M | $319.1M | $300.3M | $319.1M | $205.8M | — |
| Income tax | $69.2M | $77.3M | $95.7M | $69.2M | $80.4M | $46.0M | — |
| Net income | $226.8M | $264.8M | $211.0M | $228.0M | $238.7M | $157.4M | — |
| EPS, basic | 3.71 | 4.36 | 3.39 | 3.70 | 3.92 | 2.62 | — |
| EPS, diluted | 3.67 | 4.31 | 3.36 | 3.69 | 3.92 | 2.62 | — |
| Shares, diluted (wtd. avg.) | $61.3M | $61.1M | $60.7M | $60.2M | $60.0M | $60.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $185.9M | $249.4M | $102.0M | $72.0M | $41.2M | $49.2M | $104.8M |
| Receivables | $451.3M | $370.3M | $385.2M | $374.3M | $383.5M | — | — |
| Inventory | $481.8M | $403.7M | $392.9M | $416.8M | $420.1M | — | — |
| Total current assets | $1.26B | $1.15B | $997.7M | $988.7M | $964.1M | — | — |
| Property, plant and equipment | $381.9M | $298.3M | $294.3M | $284.2M | $286.3M | — | — |
| Goodwill | $1.95B | $1.65B | $1.59B | $1.53B | $1.53B | $1.55B | — |
| Other intangibles | $673.0M | $488.0M | $499.5M | $517.2M | $521.4M | — | — |
| Total assets | $4.77B | $4.03B | $3.83B | $3.75B | $3.46B | — | — |
| Accounts payable | $360.4M | $318.5M | $306.6M | $316.3M | $345.5M | — | — |
| Short-term debt | $2.4M | $15.0M | $0 | — | — | — | — |
| Total current liabilities | $664.8M | $632.1M | $620.1M | $601.6M | $596.6M | — | — |
| Long-term debt | $1.23B | $1.06B | $1.02B | $1.22B | $0 | — | — |
| Total liabilities | $2.55B | $2.23B | $2.18B | $2.37B | $959.5M | — | — |
| Retained earnings | $800.8M | $597.2M | $350.6M | $159.2M | $0 | — | — |
| Total equity | $2.17B | $1.77B | $1.65B | $1.39B | $2.50B | $2.54B | $2.68B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $260.6M | $355.4M | $330.5M | $214.4M | $250.7M | $309.2M | — |
| Depreciation and amortisation | $84.1M | $66.8M | $75.0M | $66.0M | $75.9M | $76.6M | — |
| Stock-based compensation | $16.9M | $19.8M | $16.1M | $13.0M | $6.3M | $6.4M | — |
| Capital expenditure | $47.3M | $51.8M | $48.2M | $40.2M | $35.6M | $40.1M | — |
| Investing cash flow | -$479.9M | -$205.7M | -$62.2M | -$184.4M | -$35.3M | -$34.6M | — |
| Financing cash flow | $113.7M | $31.7M | -$219.7M | $7.6M | -$221.6M | -$326.4M | — |
| Dividends paid | $21.9M | $17.0M | $13.3M | $6.1M | $0 | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001877322-26-000007.
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