The company's debt-to-equity ratio has climbed to 0.96 as of 2026Q1, reflecting a strategic shift toward debt-funded expansion that has increased total debt to $2.1 billion.
| Total Current Assets | 2.17B | 1.26B | 1.15B | 997.72M | 988.67M | 964.07M | 804.95M | 933.9M |
| Cash & Short-Term Investments | 1B | 185.86M | 249.36M | 102M | 72.02M | 41.21M | 49.21M | 104.83M |
| Cash Only | 1B | 185.86M | 249.36M | 102M | 72.02M | 41.21M | 49.21M | 104.83M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 488.46M | 451.3M | 370.32M | 385.2M | 374.33M | 383.5M | 329.56M | 364.15M |
| Days Sales Outstanding | 58.21 | 57.95 | 49.32 | 50.67 | 52.68 | 57.65 | 61.69 | 59.15 |
| Inventory | 520.6M | 481.76M | 403.71M | 392.86M | 416.83M | 420.06M | 313.39M | 349.47M |
| Days Inventory Outstanding | 96.12 | 95.97 | 86.51 | 81.52 | 89.08 | 96.42 | 90.24 | 87.94 |
| Other Current Assets | 77.29M | 76.88M | 69.33M | 55.89M | 68.85M | 67.36M | 63.51M | 115.44M |
| Total Non-Current Assets | 3.45B | 3.5B | 2.89B | 2.83B | 2.77B | 2.5B | 2.58B | 2.56B |
| Property, Plant & Equipment | 483.53M | 495.19M | 388.21M | 389.91M | 376.26M | 394.22M | 395.87M | 400.25M |
| Fixed Asset Turnover | 6.17x | 5.74x | 7.06x | 7.12x | 6.89x | 6.16x | 4.93x | 5.61x |
| Goodwill | 1.93B | 1.95B | 1.65B | 1.59B | 1.53B | 1.53B | 1.55B | 1.53B |
| Intangible Assets | 655.92M | 673.01M | 487.99M | 499.54M | 517.17M | 521.43M | 577.35M | 582.47M |
| Long-Term Investments | 68.85M | 16.81M | 17.8M | 9.52M | 14.34M | 0 | 0 | 0 |
| Other Non-Current Assets | 368.12M | 311.27M | 339.6M | 343.61M | 342.15M | 48.54M | 54.43M | 44.72M |
| Total Assets | 5.62B | 4.77B | 4.03B | 3.83B | 3.75B | 3.46B | 3.39B | 3.49B |
| Asset Turnover | 0.59x | 0.60x | 0.68x | 0.72x | 0.69x | 0.70x | 0.58x | 0.64x |
| Asset Growth % | 82.46% | 18.15% | 5.36% | 1.99% | 8.46% | 2.23% | -3.01% | - |
| Total Current Liabilities | 730M | 664.79M | 632.05M | 620.08M | 601.58M | 596.59M | 460.84M | 435.83M |
| Accounts Payable | 398.5M | 360.39M | 318.49M | 306.59M | 316.26M | 345.48M | 241.27M | 235.29M |
| Days Payables Outstanding | 71.39 | 71.79 | 68.25 | 63.62 | 67.59 | 79.3 | 69.47 | 59.21 |
| Short-Term Debt | 26.11M | 24.49M | 15M | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 105.87M | 19.66M | 26.39M | 31.25M | 25.9M | 22.27M | 21.6M | 0 |
| Other Current Liabilities | 146.55M | 131.88M | 178.89M | 182.45M | 116.34M | 74.87M | 104.39M | 200.53M |
| Current Ratio | 2.97x | 1.90x | 1.82x | 1.61x | 1.64x | 1.62x | 1.75x | 2.14x |
| Quick Ratio | 2.26x | 1.17x | 1.18x | 0.98x | 0.95x | 0.91x | 1.07x | 1.34x |
| Cash Conversion Cycle | 82.94 | 82.13 | 67.58 | 68.57 | 74.17 | 74.77 | 82.45 | 87.88 |
| Total Non-Current Liabilities | 2.66B | 1.89B | 1.59B | 1.56B | 1.76B | 362.94M | 380.22M | 373.89M |
| Long-Term Debt | 2.03B | 1.32B | 1.06B | 1.02B | 1.22B | 0 | 0 | 75.7M |
| Capital Lease Obligations | 343.2M | 88.14M | 66.04M | 76.61M | 76.16M | 88.78M | 78.41M | 0 |
| Deferred Tax Liabilities | 158.78M | 158.78M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 545.03M | 322.18M | 466.89M | 466.22M | 469.18M | 274.17M | 301.81M | 298.19M |
| Total Liabilities | 3.39B | 2.55B | 2.23B | 2.18B | 2.37B | 959.53M | 841.06M | 809.72M |
| Total Debt | 2.14B | 1.43B | 1.16B | 1.12B | 1.31B | 109.24M | 97.04M | 75.7M |
| Net Debt | 1.14B | 1.25B | 913.88M | 1.02B | 1.24B | 68.03M | 47.83M | -29.13M |
| Debt / Equity | 0.96x | 0.65x | 0.64x | 0.68x | 0.95x | 0.04x | 0.04x | 0.03x |
| Debt / EBITDA | 3.66x | 2.49x | 2.26x | 2.36x | 3.33x | 0.29x | 0.35x | 0.23x |
| Net Debt / EBITDA | 1.94x | 2.17x | 1.78x | 2.14x | 3.15x | 0.18x | 0.17x | -0.09x |
| Interest Coverage | 4.54x | 5.14x | 7.16x | 5.17x | 9.76x | - | - | - |
| Total Equity | 2.24B | 2.21B | 1.81B | 1.65B | 1.39B | 2.5B | 2.54B | 2.68B |
| Equity Growth % | 72.78% | 22.3% | 9.75% | 18.67% | -44.5% | -1.69% | -5.09% | - |
| Book Value per Share | 36.69 | 36.29 | 29.59 | 27.16 | 23.08 | 41.67 | 42.39 | 44.69 |
| Total Shareholders' Equity | 2.19B | 2.17B | 1.77B | 1.61B | 1.35B | 2.46B | 2.5B | 2.64B |
| Common Stock | 61K | 61K | 61K | 60K | 60K | 0 | 2.9B | 3.06B |
| Retained Earnings | 842.34M | 800.81M | 597.18M | 350.56M | 159.23M | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -557.01M | -539.72M | -729.57M | -624.27M | -674.99M | -460.89M | -396.2M | -423.53M |
| Minority Interest | 44.88M | 45.49M | 39.24M | 40.26M | 38.25M | 40.99M | 42.14M | 46.06M |
Leverage and acquisition integration
According to the latest quarterly financial data, ESAB's total assets have expanded to $5.6 billion in 2026Q1 from $3.8 billion in 2023Q4, a trend that appears to be driven by aggressive acquisition activity rather than organic accumulation of retained earnings or internal capital reinvestment.
The rapid growth in the asset base relative to equity suggests that the company is utilizing external financing to scale its footprint. Investors should monitor whether this asset expansion translates into commensurate returns on invested capital or if it merely reflects the integration of high-priced intangible assets.
As reported in recent balance sheet filings, ESAB's total debt increased to $2.1 billion in 2026Q1, pushing the debt-to-equity ratio to 0.96, which represents a notable shift from the 0.68 level observed in 2023Q4 and indicates a more aggressive approach to funding corporate growth.
While the current leverage remains manageable, the upward trajectory in debt levels warrants caution regarding the company's ability to service these obligations if industrial demand softens. The reliance on debt to fuel expansion may limit financial flexibility during periods of macroeconomic volatility.
Based on the provided balance sheet figures, goodwill has climbed to $1.9 billion as of 2026Q1, representing a significant portion of the $5.6 billion total asset base, which suggests that the company's valuation is increasingly sensitive to the long-term performance of its recent strategic acquisitions.
The high concentration of goodwill relative to tangible assets like PPE, which sits at $483.5 million, implies that the company's competitive position is heavily reliant on the successful integration of acquired entities. Any impairment of these intangibles could materially impact the company's book value and overall financial health.
As indicated by the company's quarterly reports, ESAB's cash reserves surged to $1.0 billion in 2026Q1, significantly improving the current ratio to 2.97, which provides a substantial liquidity buffer against potential short-term operational shocks or fluctuations in the global industrial fabrication cycle.
This liquidity improvement appears to be a strategic move to enhance the company's resilience, potentially providing the dry powder necessary for future bolt-on acquisitions or debt reduction. The increased cash position suggests a more conservative approach to managing near-term obligations compared to the 2023Q4 period.
Quick answers to the most common questions about buying ESAB stock.
As of 2025, ESAB Corporation (ESAB) had total assets of $4.77B including $1.26B in current assets.
ESAB Corporation (ESAB) carries total debt of $1.43B, offset by $185.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
ESAB Corporation (ESAB) has total shareholders' equity (book value) of $2.17B ($36.29 book value per share). Book value represents the net worth of the company belonging to common stock holders.
ESAB Corporation (ESAB) reported a current ratio of 1.90x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.