ESAB Corporation (ESAB) 10-Year Financial Performance & Capital Metrics

ESAB • • Industrial / General

IndustrialsMetal FabricationIndustrial Equipment & ComponentsWelding & Cutting Equipment

AboutESAB Corporation formulates, develops, manufactures, and supplies consumable products and equipment for use in cutting, joining, and automated welding, as well as gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables, including electrodes, nozzles, shields, and tips. The company's fabrication technology equipment ranges from portable welding machines to large customized automated cutting and welding systems. It also offers a range of digital software and solutions to help its customers increase their productivity, remotely monitor their welding operations, and digitize their documentation. The company sells its products under the ESAB brand to various end markets, including general industry, construction, infrastructure, transportation, energy, renewable energy, and medical and life sciences. It offers its products through independent distributors and direct salespeople. ESAB Corporation was incorporated in 2021 and is based in Wilmington, Delaware.Show more

Revenue $2.74B -1.2%
EBITDA $514M +8.5%
Net Income $265M +29.0%
EPS (Diluted) 4.31 +28.3%
Gross Margin 37.85% +3.4%
EBITDA Margin 18.76% +9.8%
Operating Margin 16.33% +12.1%
Net Margin 9.66% +30.6%
ROE 15.33% +13.3%
ROIC 12.46% +8.8%
Debt/Equity 0.64 -5.1%
Interest Coverage 6.90 +45.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y4.05%

3Y4.12%

TTM1.19%

Profit (Net Income) CAGR

10Y-

5Y8.9%

3Y4.05%

TTM-7.08%

EPS CAGR

10Y-

5Y8.4%

3Y3.21%

TTM-7.46%

ROCE

10Y Avg10.48%

5Y Avg10.9%

3Y Avg12.39%

Latest13.54%

Peer Comparison

Welding & Cutting Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ESABESAB Corporation	7.4B	121.81	28.26	-1.22%	8.7%	11.23%	4.11%	0.64

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.25B	1.95B	2.43B	2.59B	2.77B	2.74B
Revenue Growth %	-	-0.13%	0.25%	0.07%	0.07%	-0.01%
Cost of Goods Sold+	1.45B	1.27B	1.59B	1.71B	1.76B	1.7B
COGS % of Revenue	0.65%	0.65%	0.65%	0.66%	0.63%	0.62%
Gross Profit+	796.44M	682.47M	837.98M	885.53M	1.02B	1.04B
Gross Margin %	0.35%	0.35%	0.35%	0.34%	0.37%	0.38%
Gross Profit Growth %	-	-0.14%	0.23%	0.06%	0.15%	0.02%
Operating Expenses+	540.36M	480.34M	531.77M	556.47M	611.59M	590M
OpEx % of Revenue	0.24%	0.25%	0.22%	0.21%	0.22%	0.22%
Selling, General & Admin	444.48M	381.32M	425.95M	443.63M	497.59M	497.44M
SG&A % of Revenue	0.2%	0.2%	0.18%	0.17%	0.18%	0.18%
Research & Development	32.2M	34.8M	39.7M	36M	38.8M	39.2M
R&D % of Revenue	0.01%	0.02%	0.02%	0.01%	0.01%	0.01%
Other Operating Expenses	63.68M	64.22M	66.11M	76.84M	75.2M	53.36M
Operating Income+	256.08M	202.13M	306.21M	329.06M	404.17M	447.45M
Operating Margin %	0.11%	0.1%	0.13%	0.13%	0.15%	0.16%
Operating Income Growth %	-	-0.21%	0.51%	0.07%	0.23%	0.11%
EBITDA+	332.68M	276.83M	380.81M	394.17M	473.87M	514.05M
EBITDA Margin %	0.15%	0.14%	0.16%	0.15%	0.17%	0.19%
EBITDA Growth %	-	-0.17%	0.38%	0.04%	0.2%	0.08%
D&A (Non-Cash Add-back)	76.6M	74.7M	74.6M	65.1M	69.7M	66.6M
EBIT	278.16M	224.55M	330.23M	370.3M	439.67M	464.81M
Net Interest Income+	-997K	3.71M	1.67M	-37.95M	-85.07M	-64.89M
Interest Income	997K	3.71M	1.67M	0	0	0
Interest Expense	0	0	0	37.95M	85.07M	64.89M
Other Income/Expense	-34.61M	3.71M	12.87M	-28.81M	-85.07M	-77.05M
Pretax Income+	221.47M	205.84M	319.09M	300.25M	319.09M	370.4M
Pretax Margin %	0.1%	0.11%	0.13%	0.12%	0.11%	0.14%
Income Tax+	44.74M	45.97M	80.41M	69.17M	95.73M	77.35M
Effective Tax Rate %	0.78%	0.76%	0.74%	0.75%	0.64%	0.72%
Net Income+	172.91M	157.41M	235.11M	223.75M	205.28M	264.84M
Net Margin %	0.08%	0.08%	0.1%	0.09%	0.07%	0.1%
Net Income Growth %	-	-0.09%	0.49%	-0.05%	-0.08%	0.29%
Net Income (Continuing)	176.73M	159.87M	238.68M	231.08M	223.37M	293.06M
Discontinued Operations	0	0	0	-3.07M	-12.34M	-22.31M
Minority Interest	46.06M	42.14M	40.99M	38.25M	40.26M	39.24M
EPS (Diluted)+	2.88	2.62	3.92	3.72	3.36	4.31
EPS Growth %	-	-0.09%	0.5%	-0.05%	-0.1%	0.28%
EPS (Basic)	2.88	2.62	3.92	3.73	3.38	4.36
Diluted Shares Outstanding	60M	60.03M	60.03M	60.15M	60.66M	61.1M
Basic Shares Outstanding	60M	60.03M	60.03M	60.05M	60.23M	60.43M
Dividend Payout Ratio	-	-	-	0.03%	0.06%	0.06%

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	933.9M	804.95M	964.07M	988.67M	997.72M	1.15B
Cash & Short-Term Investments	104.83M	49.21M	41.21M	72.02M	102M	249.36M
Cash Only	104.83M	49.21M	41.21M	72.02M	102M	249.36M
Short-Term Investments	0	0	0	0	0	0
Accounts Receivable	364.15M	329.56M	383.5M	374.33M	385.2M	370.32M
Days Sales Outstanding	59.15	61.69	57.65	52.68	50.67	49.32
Inventory	349.47M	313.39M	420.06M	416.83M	392.86M	403.71M
Days Inventory Outstanding	87.94	90.24	96.42	89.08	81.52	86.51
Other Current Assets	115.44M	63.51M	67.36M	68.85M	55.89M	69.33M
Total Non-Current Assets+	2.56B	2.58B	2.5B	2.77B	2.83B	2.89B
Property, Plant & Equipment	400.25M	395.87M	394.22M	376.26M	389.91M	388.21M
Fixed Asset Turnover	5.61x	4.93x	6.16x	6.89x	7.12x	7.06x
Goodwill	1.53B	1.55B	1.53B	1.53B	1.59B	1.65B
Intangible Assets	582.47M	577.35M	521.43M	517.17M	499.54M	487.99M
Long-Term Investments	0	0	0	14.34M	9.52M	17.8M
Other Non-Current Assets	44.72M	54.43M	48.54M	342.15M	343.61M	339.6M
Total Assets+	3.49B	3.39B	3.46B	3.75B	3.83B	4.03B
Asset Turnover	0.64x	0.58x	0.70x	0.69x	0.72x	0.68x
Asset Growth %	-	-0.03%	0.02%	0.08%	0.02%	0.05%
Total Current Liabilities+	435.83M	460.84M	596.59M	601.58M	620.08M	632.05M
Accounts Payable	235.29M	241.27M	345.48M	316.26M	306.59M	318.49M
Days Payables Outstanding	59.21	69.47	79.3	67.59	63.62	68.25
Short-Term Debt	0	0	0	0	0	15M
Deferred Revenue (Current)	0	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	200.53M	104.39M	74.87M	116.34M	182.45M	178.89M
Current Ratio	2.14x	1.75x	1.62x	1.64x	1.61x	1.82x
Quick Ratio	1.34x	1.07x	0.91x	0.95x	0.98x	1.18x
Cash Conversion Cycle	87.88	82.45	74.77	74.17	68.57	67.58
Total Non-Current Liabilities+	373.89M	380.22M	362.94M	1.76B	1.56B	1.59B
Long-Term Debt	75.7M	0	0	1.22B	1.02B	1.06B
Capital Lease Obligations	0	78.41M	88.78M	76.16M	76.61M	66.04M
Deferred Tax Liabilities	0	0	0	0	0	0
Other Non-Current Liabilities	298.19M	301.81M	274.17M	469.18M	466.22M	466.89M
Total Liabilities	809.72M	841.06M	959.53M	2.37B	2.18B	2.23B
Total Debt+	75.7M	97.04M	109.24M	1.31B	1.12B	1.16B
Net Debt	-29.13M	47.83M	68.03M	1.24B	1.02B	913.88M
Debt / Equity	0.03x	0.04x	0.04x	0.95x	0.68x	0.64x
Debt / EBITDA	0.23x	0.35x	0.29x	3.33x	2.36x	2.26x
Net Debt / EBITDA	-0.09x	0.17x	0.18x	3.15x	2.14x	1.78x
Interest Coverage	-	-	-	8.67x	4.75x	6.90x
Total Equity+	2.68B	2.54B	2.5B	1.39B	1.65B	1.81B
Equity Growth %	-	-0.05%	-0.02%	-0.45%	0.19%	0.1%
Book Value per Share	44.69	42.39	41.67	23.08	27.16	29.59
Total Shareholders' Equity	2.64B	2.5B	2.46B	1.35B	1.61B	1.77B
Common Stock	3.06B	2.9B	0	60K	60K	61K
Retained Earnings	0	0	0	159.23M	350.56M	597.18M
Treasury Stock	0	0	0	0	0	0
Accumulated OCI	-423.53M	-396.2M	-460.89M	-674.99M	-624.27M	-729.57M
Minority Interest	46.06M	42.14M	40.99M	38.25M	40.26M	39.24M

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	249.83M	309.18M	250.74M	214.36M	330.49M	355.4M
Operating CF Margin %	0.11%	0.16%	0.1%	0.08%	0.12%	0.13%
Operating CF Growth %	-	0.24%	-0.19%	-0.15%	0.54%	0.08%
Net Income	176.73M	159.87M	238.68M	228.01M	216.07M	270.75M
Depreciation & Amortization	80.07M	76.64M	75.9M	65.98M	69.7M	66.79M
Stock-Based Compensation	5.88M	6.44M	6.27M	12.96M	16.12M	19.78M
Deferred Taxes	-22.62M	-14.03M	-8.64M	-20.2M	-25.41M	-2.6M
Other Non-Cash Items	32.95M	-3.37M	-11.65M	-6.92M	1.48M	15.04M
Working Capital Changes	-23.17M	83.63M	-49.81M	-65.47M	52.53M	-14.36M
Change in Receivables	16.98M	27.73M	-67.85M	-8.14M	-6.01M	-4.85M
Change in Inventory	4.66M	34.84M	-117.35M	-10.07M	17.96M	-22.5M
Change in Payables	-37.82M	7.06M	114.5M	-28.79M	-19.82M	31.86M
Cash from Investing+	-37.46M	-34.57M	-35.27M	-184.42M	-62.24M	-205.7M
Capital Expenditures	-44.45M	-40.14M	-35.58M	-40.24M	-48.18M	-51.78M
CapEx % of Revenue	0.02%	0.02%	0.01%	0.02%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-
Investments	-	-	-	-	-	-
Other Investing	6.99M	5.57M	5.2M	4.85M	4.6M	-4.06M
Cash from Financing+	-176.45M	-326.42M	-221.57M	7.56M	-219.72M	31.67M
Debt Issued (Net)	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-
Dividends Paid	0	0	0	-6.05M	-13.34M	-16.99M
Share Repurchases	-	-	-	-	-	-
Other Financing	-171.56M	-326.23M	-222.24M	-1.21B	-3.88M	-16.83M
Net Change in Cash	-	-	-	-	-	-
Free Cash Flow+	205.38M	269.04M	215.15M	174.12M	282.32M	303.62M
FCF Margin %	0.09%	0.14%	0.09%	0.07%	0.1%	0.11%
FCF Growth %	-	0.31%	-0.2%	-0.19%	0.62%	0.08%
FCF per Share	3.42	4.48	3.58	2.89	4.65	4.97
FCF Conversion (FCF/Net Income)	1.44x	1.96x	1.07x	0.96x	1.61x	1.34x
Interest Paid	0	0	0	34.68M	79.15M	62.28M
Taxes Paid	0	0	0	85.66M	132.9M	94.53M

Key Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6.45%	6.02%	9.32%	11.5%	13.52%	15.33%
Return on Invested Capital (ROIC)	7.24%	5.78%	8.9%	9.49%	11.45%	12.46%
Gross Margin	35.44%	35%	34.51%	34.14%	36.61%	37.85%
Net Margin	7.7%	8.07%	9.68%	8.63%	7.4%	9.66%
Debt / Equity	0.03x	0.04x	0.04x	0.95x	0.68x	0.64x
Interest Coverage	-	-	-	8.67x	4.75x	6.90x
FCF Conversion	1.44x	1.96x	1.07x	0.96x	1.61x	1.34x
Revenue Growth	-	-13.22%	24.51%	6.81%	6.99%	-1.22%

Revenue by Segment

	2022	2023	2024
Equipment Products	1.85B	1.92B	1.85B
Equipment Products Growth	-	3.63%	-3.77%
Consumable Products	740.82M	854.95M	893.31M
Consumable Products Growth	-	15.41%	4.49%

Revenue by Geography

	2022	2023	2024
EMEA and APAC	1.47B	1.56B	1.56B
EMEA and APAC Growth	-	6.46%	0.28%
Americas	1.13B	1.21B	1.18B
Americas Growth	-	7.68%	-3.15%

Frequently Asked Questions

Valuation & Price

ESAB Corporation (ESAB) has a price-to-earnings (P/E) ratio of 28.3x. This suggests investors expect higher future growth.

Growth & Financials

ESAB Corporation (ESAB) reported $2.79B in revenue for fiscal year 2024. This represents a 24% increase from $2.25B in 2019.

ESAB Corporation (ESAB) saw revenue decline by 1.2% over the past year.

Yes, ESAB Corporation (ESAB) is profitable, generating $242.8M in net income for fiscal year 2024 (9.7% net margin).

Dividend & Returns

Yes, ESAB Corporation (ESAB) pays a dividend with a yield of 0.23%. This makes it attractive for income-focused investors.

ESAB Corporation (ESAB) has a return on equity (ROE) of 15.3%. This is reasonable for most industries.

ESAB Corporation (ESAB) generated $238.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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ESAB Corporation (ESAB) 10-Year Financial Performance & Capital Metrics

ESAB • • Industrial / General

IndustrialsMetal FabricationIndustrial Equipment & ComponentsWelding & Cutting Equipment

Revenue $2.74B -1.2%
EBITDA $514M +8.5%
Net Income $265M +29.0%
EPS (Diluted) 4.31 +28.3%
Gross Margin 37.85% +3.4%
EBITDA Margin 18.76% +9.8%
Operating Margin 16.33% +12.1%
Net Margin 9.66% +30.6%
ROE 15.33% +13.3%
ROIC 12.46% +8.8%
Debt/Equity 0.64 -5.1%
Interest Coverage 6.90 +45.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y4.05%

3Y4.12%

TTM1.19%

Profit (Net Income) CAGR

10Y-

5Y8.9%

3Y4.05%

TTM-7.08%

EPS CAGR

10Y-

5Y8.4%

3Y3.21%

TTM-7.46%

ROCE

10Y Avg10.48%

5Y Avg10.9%

3Y Avg12.39%

Latest13.54%

Peer Comparison

Welding & Cutting Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ESABESAB Corporation	7.4B	121.81	28.26	-1.22%	8.7%	11.23%	4.11%	0.64

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.25B	1.95B	2.43B	2.59B	2.77B	2.74B
Revenue Growth %	-	-0.13%	0.25%	0.07%	0.07%	-0.01%
Cost of Goods Sold+	1.45B	1.27B	1.59B	1.71B	1.76B	1.7B
COGS % of Revenue	0.65%	0.65%	0.65%	0.66%	0.63%	0.62%
Gross Profit+	796.44M	682.47M	837.98M	885.53M	1.02B	1.04B
Gross Margin %	0.35%	0.35%	0.35%	0.34%	0.37%	0.38%
Gross Profit Growth %	-	-0.14%	0.23%	0.06%	0.15%	0.02%
Operating Expenses+	540.36M	480.34M	531.77M	556.47M	611.59M	590M
OpEx % of Revenue	0.24%	0.25%	0.22%	0.21%	0.22%	0.22%
Selling, General & Admin	444.48M	381.32M	425.95M	443.63M	497.59M	497.44M
SG&A % of Revenue	0.2%	0.2%	0.18%	0.17%	0.18%	0.18%
Research & Development	32.2M	34.8M	39.7M	36M	38.8M	39.2M
R&D % of Revenue	0.01%	0.02%	0.02%	0.01%	0.01%	0.01%
Other Operating Expenses	63.68M	64.22M	66.11M	76.84M	75.2M	53.36M
Operating Income+	256.08M	202.13M	306.21M	329.06M	404.17M	447.45M
Operating Margin %	0.11%	0.1%	0.13%	0.13%	0.15%	0.16%
Operating Income Growth %	-	-0.21%	0.51%	0.07%	0.23%	0.11%
EBITDA+	332.68M	276.83M	380.81M	394.17M	473.87M	514.05M
EBITDA Margin %	0.15%	0.14%	0.16%	0.15%	0.17%	0.19%
EBITDA Growth %	-	-0.17%	0.38%	0.04%	0.2%	0.08%
D&A (Non-Cash Add-back)	76.6M	74.7M	74.6M	65.1M	69.7M	66.6M
EBIT	278.16M	224.55M	330.23M	370.3M	439.67M	464.81M
Net Interest Income+	-997K	3.71M	1.67M	-37.95M	-85.07M	-64.89M
Interest Income	997K	3.71M	1.67M	0	0	0
Interest Expense	0	0	0	37.95M	85.07M	64.89M
Other Income/Expense	-34.61M	3.71M	12.87M	-28.81M	-85.07M	-77.05M
Pretax Income+	221.47M	205.84M	319.09M	300.25M	319.09M	370.4M
Pretax Margin %	0.1%	0.11%	0.13%	0.12%	0.11%	0.14%
Income Tax+	44.74M	45.97M	80.41M	69.17M	95.73M	77.35M
Effective Tax Rate %	0.78%	0.76%	0.74%	0.75%	0.64%	0.72%
Net Income+	172.91M	157.41M	235.11M	223.75M	205.28M	264.84M
Net Margin %	0.08%	0.08%	0.1%	0.09%	0.07%	0.1%
Net Income Growth %	-	-0.09%	0.49%	-0.05%	-0.08%	0.29%
Net Income (Continuing)	176.73M	159.87M	238.68M	231.08M	223.37M	293.06M
Discontinued Operations	0	0	0	-3.07M	-12.34M	-22.31M
Minority Interest	46.06M	42.14M	40.99M	38.25M	40.26M	39.24M
EPS (Diluted)+	2.88	2.62	3.92	3.72	3.36	4.31
EPS Growth %	-	-0.09%	0.5%	-0.05%	-0.1%	0.28%
EPS (Basic)	2.88	2.62	3.92	3.73	3.38	4.36
Diluted Shares Outstanding	60M	60.03M	60.03M	60.15M	60.66M	61.1M
Basic Shares Outstanding	60M	60.03M	60.03M	60.05M	60.23M	60.43M
Dividend Payout Ratio	-	-	-	0.03%	0.06%	0.06%

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	933.9M	804.95M	964.07M	988.67M	997.72M	1.15B
Cash & Short-Term Investments	104.83M	49.21M	41.21M	72.02M	102M	249.36M
Cash Only	104.83M	49.21M	41.21M	72.02M	102M	249.36M
Short-Term Investments	0	0	0	0	0	0
Accounts Receivable	364.15M	329.56M	383.5M	374.33M	385.2M	370.32M
Days Sales Outstanding	59.15	61.69	57.65	52.68	50.67	49.32
Inventory	349.47M	313.39M	420.06M	416.83M	392.86M	403.71M
Days Inventory Outstanding	87.94	90.24	96.42	89.08	81.52	86.51
Other Current Assets	115.44M	63.51M	67.36M	68.85M	55.89M	69.33M
Total Non-Current Assets+	2.56B	2.58B	2.5B	2.77B	2.83B	2.89B
Property, Plant & Equipment	400.25M	395.87M	394.22M	376.26M	389.91M	388.21M
Fixed Asset Turnover	5.61x	4.93x	6.16x	6.89x	7.12x	7.06x
Goodwill	1.53B	1.55B	1.53B	1.53B	1.59B	1.65B
Intangible Assets	582.47M	577.35M	521.43M	517.17M	499.54M	487.99M
Long-Term Investments	0	0	0	14.34M	9.52M	17.8M
Other Non-Current Assets	44.72M	54.43M	48.54M	342.15M	343.61M	339.6M
Total Assets+	3.49B	3.39B	3.46B	3.75B	3.83B	4.03B
Asset Turnover	0.64x	0.58x	0.70x	0.69x	0.72x	0.68x
Asset Growth %	-	-0.03%	0.02%	0.08%	0.02%	0.05%
Total Current Liabilities+	435.83M	460.84M	596.59M	601.58M	620.08M	632.05M
Accounts Payable	235.29M	241.27M	345.48M	316.26M	306.59M	318.49M
Days Payables Outstanding	59.21	69.47	79.3	67.59	63.62	68.25
Short-Term Debt	0	0	0	0	0	15M
Deferred Revenue (Current)	0	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	200.53M	104.39M	74.87M	116.34M	182.45M	178.89M
Current Ratio	2.14x	1.75x	1.62x	1.64x	1.61x	1.82x
Quick Ratio	1.34x	1.07x	0.91x	0.95x	0.98x	1.18x
Cash Conversion Cycle	87.88	82.45	74.77	74.17	68.57	67.58
Total Non-Current Liabilities+	373.89M	380.22M	362.94M	1.76B	1.56B	1.59B
Long-Term Debt	75.7M	0	0	1.22B	1.02B	1.06B
Capital Lease Obligations	0	78.41M	88.78M	76.16M	76.61M	66.04M
Deferred Tax Liabilities	0	0	0	0	0	0
Other Non-Current Liabilities	298.19M	301.81M	274.17M	469.18M	466.22M	466.89M
Total Liabilities	809.72M	841.06M	959.53M	2.37B	2.18B	2.23B
Total Debt+	75.7M	97.04M	109.24M	1.31B	1.12B	1.16B
Net Debt	-29.13M	47.83M	68.03M	1.24B	1.02B	913.88M
Debt / Equity	0.03x	0.04x	0.04x	0.95x	0.68x	0.64x
Debt / EBITDA	0.23x	0.35x	0.29x	3.33x	2.36x	2.26x
Net Debt / EBITDA	-0.09x	0.17x	0.18x	3.15x	2.14x	1.78x
Interest Coverage	-	-	-	8.67x	4.75x	6.90x
Total Equity+	2.68B	2.54B	2.5B	1.39B	1.65B	1.81B
Equity Growth %	-	-0.05%	-0.02%	-0.45%	0.19%	0.1%
Book Value per Share	44.69	42.39	41.67	23.08	27.16	29.59
Total Shareholders' Equity	2.64B	2.5B	2.46B	1.35B	1.61B	1.77B
Common Stock	3.06B	2.9B	0	60K	60K	61K
Retained Earnings	0	0	0	159.23M	350.56M	597.18M
Treasury Stock	0	0	0	0	0	0
Accumulated OCI	-423.53M	-396.2M	-460.89M	-674.99M	-624.27M	-729.57M
Minority Interest	46.06M	42.14M	40.99M	38.25M	40.26M	39.24M

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	249.83M	309.18M	250.74M	214.36M	330.49M	355.4M
Operating CF Margin %	0.11%	0.16%	0.1%	0.08%	0.12%	0.13%
Operating CF Growth %	-	0.24%	-0.19%	-0.15%	0.54%	0.08%
Net Income	176.73M	159.87M	238.68M	228.01M	216.07M	270.75M
Depreciation & Amortization	80.07M	76.64M	75.9M	65.98M	69.7M	66.79M
Stock-Based Compensation	5.88M	6.44M	6.27M	12.96M	16.12M	19.78M
Deferred Taxes	-22.62M	-14.03M	-8.64M	-20.2M	-25.41M	-2.6M
Other Non-Cash Items	32.95M	-3.37M	-11.65M	-6.92M	1.48M	15.04M
Working Capital Changes	-23.17M	83.63M	-49.81M	-65.47M	52.53M	-14.36M
Change in Receivables	16.98M	27.73M	-67.85M	-8.14M	-6.01M	-4.85M
Change in Inventory	4.66M	34.84M	-117.35M	-10.07M	17.96M	-22.5M
Change in Payables	-37.82M	7.06M	114.5M	-28.79M	-19.82M	31.86M
Cash from Investing+	-37.46M	-34.57M	-35.27M	-184.42M	-62.24M	-205.7M
Capital Expenditures	-44.45M	-40.14M	-35.58M	-40.24M	-48.18M	-51.78M
CapEx % of Revenue	0.02%	0.02%	0.01%	0.02%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-
Investments	-	-	-	-	-	-
Other Investing	6.99M	5.57M	5.2M	4.85M	4.6M	-4.06M
Cash from Financing+	-176.45M	-326.42M	-221.57M	7.56M	-219.72M	31.67M
Debt Issued (Net)	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-
Dividends Paid	0	0	0	-6.05M	-13.34M	-16.99M
Share Repurchases	-	-	-	-	-	-
Other Financing	-171.56M	-326.23M	-222.24M	-1.21B	-3.88M	-16.83M
Net Change in Cash	-	-	-	-	-	-
Free Cash Flow+	205.38M	269.04M	215.15M	174.12M	282.32M	303.62M
FCF Margin %	0.09%	0.14%	0.09%	0.07%	0.1%	0.11%
FCF Growth %	-	0.31%	-0.2%	-0.19%	0.62%	0.08%
FCF per Share	3.42	4.48	3.58	2.89	4.65	4.97
FCF Conversion (FCF/Net Income)	1.44x	1.96x	1.07x	0.96x	1.61x	1.34x
Interest Paid	0	0	0	34.68M	79.15M	62.28M
Taxes Paid	0	0	0	85.66M	132.9M	94.53M

Key Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6.45%	6.02%	9.32%	11.5%	13.52%	15.33%
Return on Invested Capital (ROIC)	7.24%	5.78%	8.9%	9.49%	11.45%	12.46%
Gross Margin	35.44%	35%	34.51%	34.14%	36.61%	37.85%
Net Margin	7.7%	8.07%	9.68%	8.63%	7.4%	9.66%
Debt / Equity	0.03x	0.04x	0.04x	0.95x	0.68x	0.64x
Interest Coverage	-	-	-	8.67x	4.75x	6.90x
FCF Conversion	1.44x	1.96x	1.07x	0.96x	1.61x	1.34x
Revenue Growth	-	-13.22%	24.51%	6.81%	6.99%	-1.22%

Revenue by Segment

	2022	2023	2024
Equipment Products	1.85B	1.92B	1.85B
Equipment Products Growth	-	3.63%	-3.77%
Consumable Products	740.82M	854.95M	893.31M
Consumable Products Growth	-	15.41%	4.49%

Revenue by Geography

	2022	2023	2024
EMEA and APAC	1.47B	1.56B	1.56B
EMEA and APAC Growth	-	6.46%	0.28%
Americas	1.13B	1.21B	1.18B
Americas Growth	-	7.68%	-3.15%

Frequently Asked Questions

Valuation & Price

ESAB Corporation (ESAB) has a price-to-earnings (P/E) ratio of 28.3x. This suggests investors expect higher future growth.

Growth & Financials

ESAB Corporation (ESAB) reported $2.79B in revenue for fiscal year 2024. This represents a 24% increase from $2.25B in 2019.

ESAB Corporation (ESAB) saw revenue decline by 1.2% over the past year.

Yes, ESAB Corporation (ESAB) is profitable, generating $242.8M in net income for fiscal year 2024 (9.7% net margin).

Dividend & Returns

Yes, ESAB Corporation (ESAB) pays a dividend with a yield of 0.23%. This makes it attractive for income-focused investors.

ESAB Corporation (ESAB) has a return on equity (ROE) of 15.3%. This is reasonable for most industries.

ESAB Corporation (ESAB) generated $238.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.