ESAB (ESAB) financial statements
ESAB reported revenue of $2.8B in fiscal 2025, up 7.8% a year over 5 years.
Net income was $227M and the operating margin 14.5%, against 10.4% in 2020.
Free cash flow was $213M, and the company returned $22M in dividends.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from ESAB's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $2.0B | $2.4B | $2.6B | $2.8B | $2.7B | $2.8B |
| Cost of revenue | $1.3B | $1.6B | $1.7B | $1.8B | $1.7B | $1.8B |
| Gross profit | $682M | $838M | $886M | $1.0B | $1.0B | $1.0B |
| Research and development | $35M | $40M | $36M | $39M | $39M | $44M |
| Selling, general and admin | $459M | $513M | $533M | $587M | $580M | $608M |
| Operating income | $202M | $306M | $329M | $404M | $447M | $412M |
| Pre-tax income | $206M | $319M | $300M | $319M | $370M | $328M |
| Income tax | $46M | $80M | $69M | $96M | $77M | $69M |
| Net income | $157M | $235M | $224M | $205M | $265M | $227M |
| EPS (diluted) | $2.62 | $3.92 | $3.69 | $3.36 | $4.31 | $3.67 |
| Diluted shares | 60M | 60M | 60M | 61M | 61M | 61M |
| 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% |
Balance sheet
Fiscal years, from ESAB's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $49M | $41M | $72M | $102M | $249M | $186M |
| Receivables | — | $383M | $374M | $385M | $370M | $451M |
| Inventory | — | $420M | $417M | $393M | $404M | $482M |
| Total current assets | — | $964M | $989M | $998M | $1.1B | $1.3B |
| Property, plant and equipment | — | $286M | $284M | $294M | $298M | $382M |
| Goodwill | $1.6B | $1.5B | $1.5B | $1.6B | $1.7B | $1.9B |
| Total assets | — | $3.5B | $3.8B | $3.8B | $4.0B | $4.8B |
| Total current liabilities | — | $597M | $602M | $620M | $632M | $665M |
| Long-term debt | — | $0 | $1.2B | $1.0B | $1.1B | $1.2B |
| Total liabilities | — | $960M | $2.4B | $2.2B | $2.2B | $2.6B |
| Shareholders' equity | $2.5B | $2.5B | $1.4B | $1.6B | $1.8B | $2.2B |
| Net debt | -$49M | -$41M | $1.1B | $916M | $826M | $1.0B |
Cash flow
Fiscal years, from ESAB's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | $309M | $251M | $214M | $330M | $355M | $261M |
| Capital spending | $40M | $36M | $40M | $48M | $52M | $47M |
| Free cash flow | $269M | $215M | $174M | $282M | $304M | $213M |
| Stock-based compensation | $6M | $6M | $13M | $16M | $20M | $17M |
| Dividends paid | $0 | $0 | $6M | $13M | $17M | $22M |
| Net borrowing | — | $0 | $1.0B | $0 | $0 | $350M |
| Free cash flow margin | 13.8% | 8.9% | 6.7% | 10.2% | 11.1% | 7.5% |
| Dividends per share | — | — | $0.10 | $0.22 | $0.28 | $0.36 |
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Open ESAB in InvestinglyQuestions
What was ESAB's revenue in 2025?
$2.8B in fiscal 2025, from its 10-K filing.
How much free cash flow does ESAB generate?
$213M in fiscal 2025 (operating cash flow minus capital spending).
From ESAB's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.